![](https://capedge.com/proxy/NPORT-P/0001145549-23-043926/imgdd0eef5b1.jpg)
U.S. Government Securities Fund®
Investment portfolio
May 31, 2023
Investment portfolio
May 31, 2023
unaudited
Bonds, notes & other debt instruments 95.13% Mortgage-backed obligations 53.85% Federal agency mortgage-backed obligations 53.85% | Principal amount (000) | Value (000) | |
Fannie Mae Pool #256708 6.50% 3/1/20271 | USD 8 | $8 | |
Fannie Mae Pool #256993 6.50% 11/1/20271 | 75 | 76 | |
Fannie Mae Pool #257055 6.50% 12/1/20271 | 136 | 139 | |
Fannie Mae Pool #AL9870 6.50% 2/1/20281 | 21 | 22 | |
Fannie Mae Pool #437138 6.50% 8/1/20281 | — 2 | — 2 | |
Fannie Mae Pool #AD0329 6.50% 9/1/20281 | 7 | 7 | |
Fannie Mae Pool #AL5156 6.50% 2/1/20291 | 319 | 327 | |
Fannie Mae Pool #AY1948 3.50% 1/1/20301 | 94 | 91 | |
Fannie Mae Pool #AZ0554 3.50% 10/1/20301 | 119 | 115 | |
Fannie Mae Pool #735571 8.00% 11/1/20311 | 46 | 46 | |
Fannie Mae Pool #555254 6.50% 1/1/20331 | — 2 | — 2 | |
Fannie Mae Pool #CA1442 3.00% 3/1/20331 | 435 | 412 | |
Fannie Mae Pool #BJ5302 3.00% 3/1/20331 | 292 | 277 | |
Fannie Mae Pool #695412 5.00% 6/1/20331 | 2 | 2 | |
Fannie Mae Pool #BN3172 4.00% 1/1/20341 | 10 | 9 | |
Fannie Mae Pool #BN1085 4.00% 1/1/20341 | 7 | 7 | |
Fannie Mae Pool #BO6247 2.50% 12/1/20341 | 4,115 | 3,813 | |
Fannie Mae Pool #AD3566 5.00% 10/1/20351 | 15 | 15 | |
Fannie Mae Pool #AS6870 4.00% 3/1/20361 | 2,087 | 2,014 | |
Fannie Mae Pool #MA2588 4.00% 4/1/20361 | 3,911 | 3,775 | |
Fannie Mae Pool #MA2717 4.00% 8/1/20361 | 3,403 | 3,285 | |
Fannie Mae Pool #MA2746 4.00% 9/1/20361 | 3,133 | 3,024 | |
Fannie Mae Pool #MA2787 4.00% 10/1/20361 | 6,311 | 6,091 | |
Fannie Mae Pool #898565 6.50% 10/1/20361 | — 2 | — 2 | |
Fannie Mae Pool #MA2819 4.00% 11/1/20361 | 365 | 352 | |
Fannie Mae Pool #MA2856 4.00% 12/1/20361 | 9 | 9 | |
Fannie Mae Pool #888372 6.50% 4/1/20371 | 12 | 13 | |
Fannie Mae Pool #256810 6.50% 7/1/20371 | 26 | 27 | |
Fannie Mae Pool #256828 7.00% 7/1/20371 | 14 | 14 | |
Fannie Mae Pool #MA3099 4.00% 8/1/20371 | 2,942 | 2,839 | |
Fannie Mae Pool #256860 6.50% 8/1/20371 | 35 | 37 | |
Fannie Mae Pool #888873 6.50% 8/1/20371 | — 2 | — 2 | |
Fannie Mae Pool #947337 6.50% 10/1/20371 | — 2 | — 2 | |
Fannie Mae Pool #888698 7.00% 10/1/20371 | 39 | 41 | |
Fannie Mae Pool #954832 6.50% 1/1/20381 | 1 | 1 | |
Fannie Mae Pool #970343 6.00% 2/1/20381 | 32 | 32 | |
Fannie Mae Pool #889388 7.00% 3/1/20381 | 133 | 138 | |
Fannie Mae Pool #AL1308 6.50% 5/1/20391 | 1 | 1 | |
Fannie Mae Pool #AC0794 5.00% 10/1/20391 | 88 | 89 | |
Fannie Mae Pool #932606 5.00% 2/1/20401 | 38 | 38 | |
Fannie Mae Pool #MA4093 2.00% 8/1/20401 | 2,896 | 2,512 | |
Fannie Mae Pool #MA4152 2.00% 10/1/20401 | 3,260 | 2,808 | |
Fannie Mae Pool #AH0351 4.50% 2/1/20411 | 219 | 217 | |
Fannie Mae Pool #MA4287 2.00% 3/1/20411 | 37,366 | 31,877 | |
Fannie Mae Pool #MA4333 2.00% 5/1/20411 | 30,538 | 26,288 |
U.S. Government Securities Fund — Page 1 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Fannie Mae Pool #AI1862 5.00% 5/1/20411 | USD641 | $647 | |
Fannie Mae Pool #AI3510 5.00% 6/1/20411 | 329 | 331 | |
Fannie Mae Pool #AE1248 5.00% 6/1/20411 | 145 | 147 | |
Fannie Mae Pool #MA4387 2.00% 7/1/20411 | 50,704 | 43,583 | |
Fannie Mae Pool #FM7690 2.00% 7/1/20411 | 14,578 | 12,540 | |
Fannie Mae Pool #BT5941 2.00% 7/1/20411 | 5,709 | 4,907 | |
Fannie Mae Pool #MA4407 2.00% 8/1/20411 | 109,403 | 93,963 | |
Fannie Mae Pool #FM8120 2.00% 8/1/20411 | 9,910 | 8,543 | |
Fannie Mae Pool #AJ0704 5.00% 9/1/20411 | 296 | 299 | |
Fannie Mae Pool #AJ1873 4.00% 10/1/20411 | 246 | 238 | |
Fannie Mae Pool #AJ5391 5.00% 11/1/20411 | 213 | 215 | |
Fannie Mae Pool #AE1277 5.00% 11/1/20411 | 68 | 68 | |
Fannie Mae Pool #MA4501 2.00% 12/1/20411 | 50,278 | 42,840 | |
Fannie Mae Pool #AE1283 5.00% 12/1/20411 | 41 | 42 | |
Fannie Mae Pool #AJ9327 3.50% 1/1/20421 | 25 | 24 | |
Fannie Mae Pool #MA4540 2.00% 2/1/20421 | 17,894 | 15,307 | |
Fannie Mae Pool #MA4570 2.00% 3/1/20421 | 10,113 | 8,647 | |
Fannie Mae Pool #MA4586 2.00% 4/1/20421 | 3,201 | 2,736 | |
Fannie Mae Pool #AR1512 3.50% 1/1/20431 | 270 | 255 | |
Fannie Mae Pool #AT0412 3.50% 3/1/20431 | 124 | 117 | |
Fannie Mae Pool #AT0300 3.50% 3/1/20431 | 46 | 43 | |
Fannie Mae Pool #AT3954 3.50% 4/1/20431 | 75 | 71 | |
Fannie Mae Pool #AT5898 3.00% 6/1/20431 | 7,843 | 7,144 | |
Fannie Mae Pool #AL3829 3.50% 6/1/20431 | 1,203 | 1,139 | |
Fannie Mae Pool #AT7161 3.50% 6/1/20431 | 292 | 276 | |
Fannie Mae Pool #AX8521 3.50% 12/1/20441 | 176 | 166 | |
Fannie Mae Pool #AY1829 3.50% 12/1/20441 | 72 | 68 | |
Fannie Mae Pool #BE5009 3.50% 1/1/20451 | 369 | 346 | |
Fannie Mae Pool #BE5017 3.50% 2/1/20451 | 670 | 626 | |
Fannie Mae Pool #FM9416 3.50% 7/1/20451 | 136,932 | 127,992 | |
Fannie Mae Pool #AY3880 4.00% 11/1/20451 | 74 | 72 | |
Fannie Mae Pool #BC3465 4.00% 2/1/20461 | 7 | 6 | |
Fannie Mae Pool #AS8310 3.00% 11/1/20461 | 136 | 124 | |
Fannie Mae Pool #MA2833 3.00% 12/1/20461 | 6,440 | 5,860 | |
Fannie Mae Pool #BD2440 3.50% 1/1/20471 | 380 | 354 | |
Fannie Mae Pool #AS8804 3.50% 2/1/20471 | 10,840 | 10,098 | |
Fannie Mae Pool #BM1179 3.00% 4/1/20471 | 137 | 125 | |
Fannie Mae Pool #BE8740 3.50% 5/1/20471 | 579 | 541 | |
Fannie Mae Pool #BE8742 3.50% 5/1/20471 | 176 | 165 | |
Fannie Mae Pool #BH2846 3.50% 5/1/20471 | 81 | 76 | |
Fannie Mae Pool #BH2848 3.50% 5/1/20471 | 72 | 67 | |
Fannie Mae Pool #BH2847 3.50% 5/1/20471 | 25 | 24 | |
Fannie Mae Pool #BH3122 4.00% 6/1/20471 | 51 | 49 | |
Fannie Mae Pool #CA0770 3.50% 11/1/20471 | 8,814 | 8,210 | |
Fannie Mae Pool #BJ5015 4.00% 12/1/20471 | 1,407 | 1,358 | |
Fannie Mae Pool #BJ4342 4.00% 1/1/20481 | 134 | 128 | |
Fannie Mae Pool #BJ6169 4.00% 1/1/20481 | 39 | 37 | |
Fannie Mae Pool #BJ8318 4.50% 1/1/20481 | 173 | 170 | |
Fannie Mae Pool #BJ4901 3.50% 3/1/20481 | 443 | 415 | |
Fannie Mae Pool #BK5232 4.00% 5/1/20481 | 749 | 723 | |
Fannie Mae Pool #BK6840 4.00% 6/1/20481 | 1,001 | 966 | |
Fannie Mae Pool #BK9743 4.00% 8/1/20481 | 311 | 300 | |
Fannie Mae Pool #BK9761 4.50% 8/1/20481 | 133 | 132 | |
Fannie Mae Pool #BN1172 4.50% 11/1/20481 | 148 | 146 |
U.S. Government Securities Fund — Page 2 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Fannie Mae Pool #CA2850 4.00% 12/1/20481 | USD1,868 | $1,812 | |
Fannie Mae Pool #FM2656 3.50% 1/1/20491 | 2,304 | 2,147 | |
Fannie Mae Pool #BF0320 5.50% 1/1/20491 | 3,504 | 3,660 | |
Fannie Mae Pool #FM3280 3.50% 5/1/20491 | 35,715 | 33,402 | |
Fannie Mae Pool #BN6708 3.50% 6/1/20491 | 11,214 | 10,500 | |
Fannie Mae Pool #FM1062 3.50% 6/1/20491 | 4,581 | 4,314 | |
Fannie Mae Pool #FM1220 3.50% 7/1/20491 | 2,864 | 2,679 | |
Fannie Mae Pool #BJ8411 3.50% 8/1/20491 | 1,204 | 1,131 | |
Fannie Mae Pool #FM1505 3.00% 9/1/20491 | 11,284 | 10,143 | |
Fannie Mae Pool #CA4151 3.50% 9/1/20491 | 6,039 | 5,699 | |
Fannie Mae Pool #FM1443 3.50% 9/1/20491 | 3,415 | 3,208 | |
Fannie Mae Pool #BO2264 3.00% 10/1/20491 | 37,749 | 33,798 | |
Fannie Mae Pool #BO2890 3.00% 11/1/20491 | 2,330 | 2,095 | |
Fannie Mae Pool #FM2179 3.00% 1/1/20501 | 10,884 | 9,803 | |
Fannie Mae Pool #FM2389 3.50% 2/1/20501 | 1,929 | 1,801 | |
Fannie Mae Pool #FM2822 3.00% 3/1/20501 | 6,888 | 6,183 | |
Fannie Mae Pool #CA5338 3.00% 3/1/20501 | 5,740 | 5,114 | |
Fannie Mae Pool #FM2777 3.00% 3/1/20501 | 3,282 | 2,944 | |
Fannie Mae Pool #FM2664 3.50% 3/1/20501 | 21,961 | 20,389 | |
Fannie Mae Pool #CA5539 3.00% 4/1/20501 | 13,768 | 12,358 | |
Fannie Mae Pool #CA5968 2.50% 6/1/20501 | 2,327 | 2,016 | |
Fannie Mae Pool #CA6593 2.50% 8/1/20501 | 10,811 | 9,364 | |
Fannie Mae Pool #BP6715 2.00% 9/1/20501 | 4 | 3 | |
Fannie Mae Pool #CA7325 2.00% 10/1/20501 | 4,525 | 3,777 | |
Fannie Mae Pool #CA7257 2.50% 10/1/20501 | 2,268 | 1,964 | |
Fannie Mae Pool #CA7606 3.00% 11/1/20501 | 43,228 | 38,953 | |
Fannie Mae Pool #MA4208 2.00% 12/1/20501 | 2,672 | 2,211 | |
Fannie Mae Pool #CA8044 2.50% 12/1/20501 | 31,726 | 27,333 | |
Fannie Mae Pool #CA8828 2.50% 2/1/20511 | 9,888 | 8,576 | |
Fannie Mae Pool #FM6548 2.00% 3/1/20511 | 10,890 | 9,088 | |
Fannie Mae Pool #CB0290 2.00% 4/1/20511 | 10,800 | 8,932 | |
Fannie Mae Pool #MA4305 2.00% 4/1/20511 | 126 | 104 | |
Fannie Mae Pool #CB0041 3.00% 4/1/20511 | 32,946 | 29,653 | |
Fannie Mae Pool #BR1035 2.00% 5/1/20511 | 74 | 61 | |
Fannie Mae Pool #CB0457 2.50% 5/1/20511 | 6,034 | 5,198 | |
Fannie Mae Pool #FM7694 3.00% 6/1/20511 | 33,323 | 29,865 | |
Fannie Mae Pool #FM7687 3.00% 6/1/20511 | 2,990 | 2,685 | |
Fannie Mae Pool #BR2095 2.50% 7/1/20511 | 20,513 | 17,634 | |
Fannie Mae Pool #FM7900 2.50% 7/1/20511 | 2,258 | 1,956 | |
Fannie Mae Pool #CB1304 3.00% 8/1/20511 | 336 | 302 | |
Fannie Mae Pool #CB1527 2.50% 9/1/20511 | 8,188 | 7,016 | |
Fannie Mae Pool #FS4628 3.00% 10/1/20511 | 10,072 | 8,971 | |
Fannie Mae Pool #FS0965 2.00% 11/1/20511 | 594 | 492 | |
Fannie Mae Pool #FM9492 2.50% 11/1/20511 | 14,102 | 12,202 | |
Fannie Mae Pool #FM9694 2.50% 11/1/20511 | 6,919 | 6,018 | |
Fannie Mae Pool #CB2292 3.00% 11/1/20511 | 20,098 | 18,052 | |
Fannie Mae Pool #FM9632 3.00% 11/1/20511 | 14,977 | 13,411 | |
Fannie Mae Pool #FM9631 3.00% 11/1/20511 | 6,371 | 5,713 | |
Fannie Mae Pool #FM9810 3.00% 11/1/20511 | 4,407 | 3,920 | |
Fannie Mae Pool #FS0433 2.50% 12/1/20511 | 43,308 | 37,869 | |
Fannie Mae Pool #CB2286 2.50% 12/1/20511 | 14,717 | 12,708 | |
Fannie Mae Pool #CB2371 2.50% 12/1/20511 | 8,093 | 6,984 | |
Fannie Mae Pool #FM9804 2.50% 12/1/20511 | 7,442 | 6,458 | |
Fannie Mae Pool #CB2319 2.50% 12/1/20511 | 3,159 | 2,728 |
U.S. Government Securities Fund — Page 3 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Fannie Mae Pool #CB2372 2.50% 12/1/20511 | USD1,514 | $1,307 | |
Fannie Mae Pool #BT9510 2.50% 12/1/20511 | 1,195 | 1,033 | |
Fannie Mae Pool #BT9483 2.50% 12/1/20511 | 1,195 | 1,032 | |
Fannie Mae Pool #CB2414 3.00% 12/1/20511 | 43,885 | 39,531 | |
Fannie Mae Pool #CB2293 3.00% 12/1/20511 | 19,948 | 17,885 | |
Fannie Mae Pool #FM9976 3.00% 12/1/20511 | 10,192 | 9,232 | |
Fannie Mae Pool #CB2544 3.00% 1/1/20521 | 21,063 | 18,831 | |
Fannie Mae Pool #FS0454 3.00% 1/1/20521 | 4,497 | 4,000 | |
Fannie Mae Pool #BV3076 2.00% 2/1/20521 | 9,352 | 7,718 | |
Fannie Mae Pool #CB2765 2.00% 2/1/20521 | 7,664 | 6,373 | |
Fannie Mae Pool #FS0523 2.50% 2/1/20521 | 2,333 | 2,012 | |
Fannie Mae Pool #FS0647 3.00% 2/1/20521 | 6,160 | 5,576 | |
Fannie Mae Pool #BV6617 3.50% 4/1/20521 | 1,461 | 1,344 | |
Fannie Mae Pool #CB3774 4.00% 6/1/20521 | 38,858 | 36,747 | |
Fannie Mae Pool #MA4732 4.00% 9/1/20521 | 107,190 | 101,332 | |
Fannie Mae Pool #BW8497 4.50% 9/1/20521 | 6,649 | 6,477 | |
Fannie Mae Pool #MA4820 6.50% 10/1/20521 | 268 | 276 | |
Fannie Mae Pool #CB5778 6.00% 12/1/20521 | 52 | 53 | |
Fannie Mae Pool #BT8034 4.50% 1/1/20531 | 161 | 156 | |
Fannie Mae Pool #MA4917 4.50% 2/1/20531 | 1,285 | 1,245 | |
Fannie Mae Pool #FS3759 6.00% 2/1/20531 | 11,720 | 12,086 | |
Fannie Mae Pool #BX7703 6.50% 2/1/20531 | 7,743 | 7,930 | |
Fannie Mae Pool #MA4977 4.50% 4/1/20531 | 1,173 | 1,136 | |
Fannie Mae Pool #CB6106 6.50% 4/1/20531 | 6,332 | 6,523 | |
Fannie Mae Pool #MA4981 6.50% 4/1/20531 | 4,873 | 4,991 | |
Fannie Mae Pool #BF0141 5.50% 9/1/20561 | 414 | 429 | |
Fannie Mae Pool #BF0379 3.50% 4/1/20591 | 19,484 | 17,925 | |
Fannie Mae Pool #BM6693 3.50% 8/1/20591 | 7,723 | 7,106 | |
Fannie Mae Pool #BF0481 3.50% 6/1/20601 | 13,416 | 12,344 | |
Fannie Mae Pool #BF0480 3.50% 6/1/20601 | 8,525 | 7,886 | |
Fannie Mae Pool #BF0497 3.00% 7/1/20601 | 26,011 | 22,416 | |
Fannie Mae Pool #BF0585 4.50% 12/1/20611 | 5,416 | 5,266 | |
Fannie Mae, Series 2001-4, Class NA, 9.00% 10/25/20251,3 | — 2 | — 2 | |
Fannie Mae, Series 2001-25, Class ZA, 6.50% 6/25/20311 | 76 | 76 | |
Fannie Mae, Series 2006-65, Class PF, (1-month USD-LIBOR + 0.28%) 5.418% 7/25/20361,3 | 262 | 260 | |
Fannie Mae, Series 1999-T2, Class A1, 7.50% 1/19/20391,3 | 83 | 83 | |
Fannie Mae, Series 2001-T10, Class A1, 7.00% 12/25/20411 | 31 | 32 | |
Fannie Mae, Series 2014-M1, Class A2, Multi Family, 2.903% 7/25/20231,3 | 251 | 250 | |
Fannie Mae, Series 2014-M3, Class A2, Multi Family, 3.501% 1/25/20241,3 | 1,313 | 1,291 | |
Fannie Mae, Series 2017-M3, Class AV2, Multi Family, 2.538% 5/25/20241,3 | 747 | 731 | |
Fannie Mae, Series 2017-M10, Class AV2, Multi Family, 2.54% 7/25/20241,3 | 1,388 | 1,347 | |
Fannie Mae, Series 2017-M15, Class AV2, Multi Family, 2.563% 11/25/20241,3 | 753 | 727 | |
Fannie Mae, Series 2006-56, Class OG, principal only, 0% 7/25/20361 | 236 | 201 | |
Fannie Mae, Series 2006-83, Class AO, principal only, 0% 9/25/20361 | 357 | 306 | |
Freddie Mac Pool #QS0124 1.50% 11/1/20301 | 410 | 378 | |
Freddie Mac Pool #ZS1044 6.50% 2/1/20361 | 1 | 1 | |
Freddie Mac Pool #ZI5486 6.50% 9/1/20361 | 2 | 2 | |
Freddie Mac Pool #C91909 4.00% 11/1/20361 | 56 | 54 | |
Freddie Mac Pool #1H1354 4.333% 11/1/20361,3 | 59 | 59 | |
Freddie Mac Pool #ZI7575 6.50% 6/1/20381 | 1 | 1 | |
Freddie Mac Pool #SC0113 2.00% 12/1/20401 | 2,643 | 2,278 | |
Freddie Mac Pool #RB5105 2.00% 3/1/20411 | 55,910 | 48,228 | |
Freddie Mac Pool #G06459 5.00% 5/1/20411 | 1,163 | 1,176 | |
Freddie Mac Pool #RB5114 2.00% 6/1/20411 | 51,898 | 44,638 |
U.S. Government Securities Fund — Page 4 of 17
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Freddie Mac Pool #SC0169 2.00% 6/1/20411 | USD4,613 | $3,965 | |
Freddie Mac Pool #RB5118 2.00% 7/1/20411 | 64,531 | 55,464 | |
Freddie Mac Pool #RB5121 2.00% 8/1/20411 | 100,560 | 86,368 | |
Freddie Mac Pool #SC0175 2.00% 9/1/20411 | 9,149 | 7,869 | |
Freddie Mac Pool #QK1181 2.00% 11/1/20411 | 7,051 | 6,041 | |
Freddie Mac Pool #RB5138 2.00% 12/1/20411 | 47,286 | 40,466 | |
Freddie Mac Pool #RB5145 2.00% 2/1/20421 | 9,571 | 8,187 | |
Freddie Mac Pool #RB5148 2.00% 3/1/20421 | 40,773 | 34,860 | |
Freddie Mac Pool #RB5153 2.00% 4/1/20421 | 12,458 | 10,645 | |
Freddie Mac Pool #RB5154 2.50% 4/1/20421 | 128,476 | 112,520 | |
Freddie Mac Pool #Q15874 4.00% 2/1/20431 | 33 | 32 | |
Freddie Mac Pool #Q17696 3.50% 4/1/20431 | 296 | 280 | |
Freddie Mac Pool #Q18236 3.50% 5/1/20431 | 423 | 400 | |
Freddie Mac Pool #Q19133 3.50% 6/1/20431 | 330 | 311 | |
Freddie Mac Pool #G61082 3.00% 7/1/20431 | 3,450 | 3,146 | |
Freddie Mac Pool #Q28558 3.50% 9/1/20441 | 1,435 | 1,349 | |
Freddie Mac Pool #760012 3.113% 4/1/20451,3 | 970 | 950 | |
Freddie Mac Pool #760013 3.208% 4/1/20451,3 | 555 | 546 | |
Freddie Mac Pool #760014 2.731% 8/1/20451,3 | 676 | 649 | |
Freddie Mac Pool #G60238 3.50% 10/1/20451 | 8,275 | 7,761 | |
Freddie Mac Pool #Z40130 3.00% 1/1/20461 | 1,543 | 1,396 | |
Freddie Mac Pool #G60744 3.50% 7/1/20461 | 1,801 | 1,684 | |
Freddie Mac Pool #G67700 3.50% 8/1/20461 | 3,059 | 2,869 | |
Freddie Mac Pool #760015 2.573% 1/1/20471,3 | 1,565 | 1,500 | |
Freddie Mac Pool #Q47615 3.50% 4/1/20471 | 534 | 498 | |
Freddie Mac Pool #Q51622 3.50% 10/1/20471 | 621 | 578 | |
Freddie Mac Pool #Q52069 3.50% 11/1/20471 | 772 | 722 | |
Freddie Mac Pool #ZT0538 3.50% 3/1/20481 | 1,608 | 1,491 | |
Freddie Mac Pool #Q54709 3.50% 3/1/20481 | 590 | 552 | |
Freddie Mac Pool #Q54701 3.50% 3/1/20481 | 571 | 533 | |
Freddie Mac Pool #Q55056 3.50% 3/1/20481 | 453 | 421 | |
Freddie Mac Pool #Q54700 3.50% 3/1/20481 | 418 | 392 | |
Freddie Mac Pool #Q54781 3.50% 3/1/20481 | 375 | 351 | |
Freddie Mac Pool #Q54782 3.50% 3/1/20481 | 339 | 317 | |
Freddie Mac Pool #Q54699 3.50% 3/1/20481 | 215 | 202 | |
Freddie Mac Pool #Q54831 3.50% 3/1/20481 | 183 | 172 | |
Freddie Mac Pool #Q54698 3.50% 3/1/20481 | 153 | 144 | |
Freddie Mac Pool #G67711 4.00% 3/1/20481 | 24,892 | 24,052 | |
Freddie Mac Pool #Q55060 3.50% 4/1/20481 | 148 | 138 | |
Freddie Mac Pool #Q55971 4.00% 5/1/20481 | 748 | 723 | |
Freddie Mac Pool #Q56175 4.00% 5/1/20481 | 655 | 633 | |
Freddie Mac Pool #Q55970 4.00% 5/1/20481 | 318 | 307 | |
Freddie Mac Pool #Q56590 3.50% 6/1/20481 | 291 | 272 | |
Freddie Mac Pool #Q56589 3.50% 6/1/20481 | 181 | 170 | |
Freddie Mac Pool #Q56591 3.50% 6/1/20481 | 128 | 119 | |
Freddie Mac Pool #Q56599 4.00% 6/1/20481 | 1,042 | 1,007 | |
Freddie Mac Pool #Q57242 4.50% 7/1/20481 | 320 | 314 | |
Freddie Mac Pool #Q58411 4.50% 9/1/20481 | 1,331 | 1,316 | |
Freddie Mac Pool #Q58436 4.50% 9/1/20481 | 739 | 730 | |
Freddie Mac Pool #Q58378 4.50% 9/1/20481 | 507 | 499 | |
Freddie Mac Pool #ZA6700 3.50% 4/1/20491 | 10,719 | 9,981 | |
Freddie Mac Pool #QA0284 3.50% 6/1/20491 | 1,999 | 1,877 | |
Freddie Mac Pool #SD7502 3.50% 7/1/20491 | 7,347 | 6,881 | |
Freddie Mac Pool #QA1442 3.50% 8/1/20491 | 4,092 | 3,828 |
U.S. Government Securities Fund — Page 5 of 17
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Freddie Mac Pool #RA1339 3.00% 9/1/20491 | USD1,698 | $1,526 | |
Freddie Mac Pool #QA2748 3.50% 9/1/20491 | 521 | 489 | |
Freddie Mac Pool #RA1580 3.50% 10/1/20491 | 4,215 | 3,978 | |
Freddie Mac Pool #RA1463 3.50% 10/1/20491 | 4,074 | 3,844 | |
Freddie Mac Pool #SD0187 3.00% 1/1/20501 | 6,659 | 6,017 | |
Freddie Mac Pool #RA2003 4.50% 1/1/20501 | 6,442 | 6,327 | |
Freddie Mac Pool #RA2319 3.00% 3/1/20501 | 9,248 | 8,239 | |
Freddie Mac Pool #SD7513 3.50% 4/1/20501 | 73,422 | 68,868 | |
Freddie Mac Pool #SD8106 2.00% 11/1/20501 | 34,083 | 28,199 | |
Freddie Mac Pool #SD8128 2.00% 2/1/20511 | 436 | 360 | |
Freddie Mac Pool #SD8134 2.00% 3/1/20511 | 725 | 598 | |
Freddie Mac Pool #RA5288 2.00% 5/1/20511 | 34,548 | 28,606 | |
Freddie Mac Pool #RA5259 2.50% 5/1/20511 | 5,950 | 5,126 | |
Freddie Mac Pool #SD7544 3.00% 7/1/20511 | 1,625 | 1,463 | |
Freddie Mac Pool #SD7545 2.50% 9/1/20511 | 6,616 | 5,737 | |
Freddie Mac Pool #RA5971 3.00% 9/1/20511 | 2,126 | 1,909 | |
Freddie Mac Pool #SD2880 3.00% 10/1/20511 | 19,636 | 17,473 | |
Freddie Mac Pool #SD0734 3.00% 10/1/20511 | 526 | 472 | |
Freddie Mac Pool #RA6406 2.00% 11/1/20511 | 5,725 | 4,747 | |
Freddie Mac Pool #SD1385 2.50% 11/1/20511 | 6,165 | 5,341 | |
Freddie Mac Pool #SD7548 2.50% 11/1/20511 | 4,527 | 3,918 | |
Freddie Mac Pool #SD7552 2.50% 1/1/20521 | 3,207 | 2,775 | |
Freddie Mac Pool #SD0813 3.00% 1/1/20521 | 1,022 | 917 | |
Freddie Mac Pool #SD7550 3.00% 2/1/20521 | 41,161 | 37,211 | |
Freddie Mac Pool #SD0873 3.50% 2/1/20521 | 30,786 | 28,752 | |
Freddie Mac Pool #QD7089 3.50% 2/1/20521 | 2,423 | 2,231 | |
Freddie Mac Pool #SD1450 2.50% 3/1/20521 | 2,465 | 2,134 | |
Freddie Mac Pool #SD7553 3.00% 3/1/20521 | 118,801 | 106,595 | |
Freddie Mac Pool #SD7554 2.50% 4/1/20521 | 1,450 | 1,254 | |
Freddie Mac Pool #8D0226 2.524% 5/1/20521,3 | 6,408 | 5,741 | |
Freddie Mac Pool #SD8214 3.50% 5/1/20521 | 68,706 | 63,172 | |
Freddie Mac Pool #RA7556 4.50% 6/1/20521 | 16,087 | 15,611 | |
Freddie Mac Pool #SD8251 5.50% 8/1/20521 | 958 | 961 | |
Freddie Mac Pool #RA7938 5.00% 9/1/20521 | 61,764 | 60,959 | |
Freddie Mac Pool #SD1968 4.00% 11/1/20521 | 50,601 | 47,844 | |
Freddie Mac Pool #SD1895 4.50% 11/1/20521 | 21,890 | 21,676 | |
Freddie Mac Pool #SD8288 5.00% 1/1/20531 | 228,629 | 225,317 | |
Freddie Mac Pool #SD8314 4.50% 4/1/20531 | 814 | 789 | |
Freddie Mac Pool #SD8325 6.00% 5/1/20531 | 110,815 | 112,154 | |
Freddie Mac Pool #SD8334 6.50% 5/1/20531 | 9,937 | 10,178 | |
Freddie Mac Pool #SD8332 6.00% 6/1/20531 | 244,533 | 247,488 | |
Freddie Mac, Series 1567, Class A, (1-month USD-LIBOR + 0.40%) 2.547% 8/15/20231,3 | — 2 | — 2 | |
Freddie Mac, Series 3156, Class PF, (1-month USD-LIBOR + 0.25%) 5.357% 5/15/20361,3 | 495 | 489 | |
Freddie Mac, Series K033, Class A2, Multi Family, 3.06% 7/25/20231,3 | 10,262 | 10,223 | |
Freddie Mac, Series K035, Class A2, Multi Family, 3.458% 8/25/20231,3 | 15,060 | 14,976 | |
Freddie Mac, Series K058, Class A2, Multi Family, 2.653% 8/25/20261 | 3,507 | 3,325 | |
Freddie Mac, Series K065, Class A2, Multi Family, 3.243% 4/25/20271 | 1,370 | 1,316 | |
Freddie Mac, Series K074, Class A2, Multi Family, 3.60% 1/25/20281 | 560 | 544 | |
Freddie Mac, Series K751, Class A2, Multi Family, 4.412% 3/25/20301 | 50,000 | 50,280 | |
Freddie Mac, Series 3146, Class PO, principal only, 0% 4/15/20361 | 171 | 143 | |
Freddie Mac, Series 3156, Class PO, principal only, 0% 5/15/20361 | 417 | 352 | |
Freddie Mac, Series 3213, Class OG, principal only, 0% 9/15/20361 | 183 | 164 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/20561,3 | 15,728 | 14,703 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 7/25/20561 | 9,651 | 8,575 |
U.S. Government Securities Fund — Page 6 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 7/25/20561 | USD1,950 | $1,759 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/20561,3 | 17,712 | 16,532 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/20561 | 17,472 | 16,277 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 5/25/20571 | 10,338 | 9,051 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/20571,3 | 10,864 | 9,905 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/20571 | 6,105 | 5,558 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/20571 | 4,009 | 3,804 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/20571 | 11,860 | 10,738 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-4, Class MT, 3.50% 11/25/20571 | 1,742 | 1,576 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MA, 3.50% 11/26/20571 | 3,177 | 3,017 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 7/25/20581 | 8,772 | 7,937 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 7/25/20581 | 3,573 | 3,382 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/20581 | 21,160 | 19,982 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 8/26/20581 | 10,134 | 9,171 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 10/25/20581 | 4,533 | 4,106 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 10/25/20581 | 503 | 476 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/20591 | 12,769 | 11,802 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 6/25/20281 | 12,886 | 12,321 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/20281 | 62,184 | 59,436 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 9/25/20291 | 39,807 | 36,919 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/20291 | 22,195 | 20,555 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A1D, 2.00% 7/25/20301 | 15,326 | 13,748 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A2D, 2.00% 7/25/20301 | 4,381 | 3,665 | |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/20321 | 58,235 | 55,251 | |
Government National Mortgage Assn. 2.00% 6/1/20531,4 | 20,900 | 17,723 | |
Government National Mortgage Assn. 2.50% 6/1/20531,4 | 40,702 | 35,618 | |
Government National Mortgage Assn. 3.00% 6/1/20531,4 | 18,927 | 17,038 | |
Government National Mortgage Assn. 3.50% 6/1/20531,4 | 263,621 | 244,581 | |
Government National Mortgage Assn. 4.00% 6/1/20531,4 | 63,399 | 60,258 | |
Government National Mortgage Assn. 4.50% 6/1/20531,4 | 29,859 | 29,017 | |
Government National Mortgage Assn. 5.50% 6/1/20531,4 | 26,070 | 26,056 | |
Government National Mortgage Assn. 4.00% 7/1/20531,4 | 54,203 | 51,332 | |
Government National Mortgage Assn. 4.50% 7/1/20531,4 | 97,407 | 94,696 | |
Government National Mortgage Assn. Pool #754335 6.50% 8/20/20291 | 122 | 122 | |
Government National Mortgage Assn. Pool #754334 6.50% 10/20/20321 | 266 | 266 | |
Government National Mortgage Assn. Pool #AH5901 3.75% 11/20/20341 | 807 | 790 | |
Government National Mortgage Assn. Pool #754319 6.50% 1/20/20371 | 105 | 106 | |
Government National Mortgage Assn. Pool #782365 6.00% 7/15/20381 | 118 | 124 | |
Government National Mortgage Assn. Pool #004182 5.50% 7/20/20381 | 12 | 12 | |
Government National Mortgage Assn. Pool #700778 5.50% 10/15/20381 | 61 | 63 | |
Government National Mortgage Assn. Pool #738836 6.50% 11/20/20381 | 64 | 63 | |
Government National Mortgage Assn. Pool #754287 6.50% 11/20/20381 | 56 | 56 | |
Government National Mortgage Assn. Pool #AA4873 6.50% 12/20/20381 | 75 | 74 | |
Government National Mortgage Assn. Pool #754314 6.50% 1/20/20391 | 450 | 466 | |
Government National Mortgage Assn. Pool #741910 4.00% 2/15/20391 | 117 | 114 | |
Government National Mortgage Assn. Pool #004367 4.00% 2/20/20391 | 16 | 15 | |
Government National Mortgage Assn. Pool #698406 5.00% 7/15/20391 | 273 | 279 | |
Government National Mortgage Assn. Pool #783690 6.00% 9/20/20391 | 624 | 656 | |
Government National Mortgage Assn. Pool #004636 4.50% 2/20/20401 | 403 | 403 | |
Government National Mortgage Assn. Pool #783689 5.50% 2/20/20401 | 1,077 | 1,115 | |
Government National Mortgage Assn. Pool #736089 5.00% 6/15/20401 | 130 | 131 | |
Government National Mortgage Assn. Pool #736084 5.00% 6/15/20401 | 104 | 105 | |
Government National Mortgage Assn. Pool #005040 5.00% 4/20/20411 | 28 | 28 | |
Government National Mortgage Assn. Pool #783688 5.00% 6/20/20411 | 1,826 | 1,868 |
U.S. Government Securities Fund — Page 7 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Government National Mortgage Assn. Pool #005112 6.50% 7/20/20411 | USD106 | $107 | |
Government National Mortgage Assn. Pool #005157 4.00% 8/20/20411 | 89 | 83 | |
Government National Mortgage Assn. Pool #005187 5.50% 9/20/20411 | 64 | 63 | |
Government National Mortgage Assn. Pool #754636 3.50% 11/20/20411 | 447 | 418 | |
Government National Mortgage Assn. Pool #783687 4.50% 12/20/20411 | 4,232 | 4,177 | |
Government National Mortgage Assn. Pool #754591 4.00% 1/20/20421 | 948 | 924 | |
Government National Mortgage Assn. Pool #754637 4.00% 1/20/20421 | 460 | 448 | |
Government National Mortgage Assn. Pool #AA2589 3.50% 3/20/20431 | 668 | 604 | |
Government National Mortgage Assn. Pool #MA5332 5.00% 7/20/20481 | 12 | 12 | |
Government National Mortgage Assn. Pool #MA6042 5.00% 7/20/20491 | 23 | 23 | |
Government National Mortgage Assn. Pool #BZ3978 2.50% 11/20/20501 | 5,244 | 4,575 | |
Government National Mortgage Assn. Pool #786706 2.50% 12/20/20511 | 53,691 | 46,829 | |
Government National Mortgage Assn. Pool #786502 2.50% 2/20/20521 | 45,054 | 39,294 | |
Government National Mortgage Assn. Pool #786647 2.50% 3/20/20521 | 25,548 | 22,296 | |
Government National Mortgage Assn. Pool #786701 2.50% 3/20/20521 | 15,811 | 13,785 | |
Government National Mortgage Assn. Pool #785998 2.50% 3/20/20521 | 11,295 | 9,721 | |
Government National Mortgage Assn. Pool #892950 5.645% 7/20/20601,3 | 459 | 459 | |
Government National Mortgage Assn. Pool #710074 4.72% 4/20/20611 | 1 | 1 | |
Government National Mortgage Assn. Pool #710077 4.70% 5/20/20611 | 9 | 8 | |
Government National Mortgage Assn. Pool #751409 4.95% 7/20/20611 | 1 | 1 | |
Government National Mortgage Assn. Pool #756695 4.70% 11/20/20611 | 3 | 3 | |
Government National Mortgage Assn. Pool #795471 5.101% 2/20/20621 | 1 | 1 | |
Government National Mortgage Assn. Pool #759735 4.734% 3/20/20621 | 1 | 1 | |
Government National Mortgage Assn. Pool #767610 4.594% 11/20/20621 | — 2 | — 2 | |
Government National Mortgage Assn. Pool #767641 4.457% 5/20/20631 | — 2 | — 2 | |
Government National Mortgage Assn. Pool #795533 4.941% 5/20/20631 | — 2 | — 2 | |
Government National Mortgage Assn. Pool #894475 7.042% 10/20/20631,3 | 939 | 952 | |
Government National Mortgage Assn. Pool #AG8068 4.94% 1/20/20641 | 2 | 2 | |
Government National Mortgage Assn. Pool #894482 7.063% 2/20/20641,3 | 1,381 | 1,399 | |
Government National Mortgage Assn. Pool #AG8149 5.13% 6/20/20641,3 | 116 | 115 | |
Government National Mortgage Assn. Pool #AG8150 4.859% 7/20/20641 | 2 | 2 | |
Government National Mortgage Assn. Pool #AG8155 5.163% 7/20/20641 | 3 | 3 | |
Government National Mortgage Assn. Pool #AG8171 5.20% 7/20/20641 | — 2 | — 2 | |
Government National Mortgage Assn. Pool #AG8156 5.598% 7/20/20641,3 | 142 | 142 | |
Government National Mortgage Assn. Pool #AG8194 4.276% 9/20/20641 | 8 | 7 | |
Government National Mortgage Assn. Pool #AG8189 5.155% 9/20/20641 | 3 | 3 | |
Government National Mortgage Assn. Pool #AL7438 4.351% 1/20/20651 | 2 | 2 | |
Government National Mortgage Assn., Series 2003-46, Class NB, 5.00% 6/20/20331 | 101 | 100 | |
Government National Mortgage Assn., Series 2012-H12, Class FT, (1-year UST Yield Curve Rate T Note Constant Maturity + 0.70%) 5.28% 5/20/20621,3 | 510 | 509 | |
Government National Mortgage Assn., Series 2012-H20, Class PT, 5.892% 7/20/20621,3 | 870 | 866 | |
Government National Mortgage Assn., Series 2012-H23, Class FI, interest only, 0.536% 10/20/20621,3 | 138 | 1 | |
Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/20631 | 5,668 | 4,434 | |
Uniform Mortgage-Backed Security 2.00% 6/1/20381,4 | 24,100 | 21,598 | |
Uniform Mortgage-Backed Security 2.50% 6/1/20381,4 | 18,388 | 16,925 | |
Uniform Mortgage-Backed Security 4.00% 6/1/20381,4 | 16,000 | 15,552 | |
Uniform Mortgage-Backed Security 2.50% 7/1/20381,4 | 14,612 | 13,470 | |
Uniform Mortgage-Backed Security 2.00% 6/1/20531,4 | 5,514 | 4,535 | |
Uniform Mortgage-Backed Security 2.50% 6/1/20531,4 | 12,589 | 10,765 | |
Uniform Mortgage-Backed Security 3.00% 6/1/20531,4 | 116,455 | 103,388 | |
Uniform Mortgage-Backed Security 3.50% 6/1/20531,4 | 142,738 | 131,157 | |
Uniform Mortgage-Backed Security 4.00% 6/1/20531,4 | 176,099 | 166,386 | |
Uniform Mortgage-Backed Security 4.50% 6/1/20531,4 | 78,827 | 76,356 | |
Uniform Mortgage-Backed Security 5.00% 6/1/20531,4 | 187,025 | 184,245 |
U.S. Government Securities Fund — Page 8 of 17
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) | |
Uniform Mortgage-Backed Security 5.50% 6/1/20531,4 | USD488,676 | $488,409 | |
Uniform Mortgage-Backed Security 6.00% 6/1/20531,4 | 547,704 | 554,165 | |
Uniform Mortgage-Backed Security 6.50% 6/1/20531,4 | 634,558 | 649,579 | |
Uniform Mortgage-Backed Security 2.50% 7/1/20531,4 | 95,364 | 81,649 | |
Uniform Mortgage-Backed Security 3.50% 7/1/20531,4 | 178,458 | 164,133 | |
Uniform Mortgage-Backed Security 4.00% 7/1/20531,4 | 111,000 | 104,947 | |
Uniform Mortgage-Backed Security 4.50% 7/1/20531,4 | 733,035 | 710,400 | |
Uniform Mortgage-Backed Security 5.00% 7/1/20531,4 | 554,022 | 545,874 | |
Uniform Mortgage-Backed Security 5.50% 7/1/20531,4 | 668,263 | 667,793 | |
Uniform Mortgage-Backed Security 6.00% 7/1/20531,4 | 1,667,757 | 1,687,171 | |
Total mortgage-backed obligations | 10,701,642 | ||
U.S. Treasury bonds & notes 39.53% U.S. Treasury 28.89% | |||
U.S. Treasury 2.625% 6/30/2023 | 30,888 | 30,830 | |
U.S. Treasury 2.875% 10/31/2023 | 16,500 | 16,341 | |
U.S. Treasury 2.875% 11/30/2023 | 1,080 | 1,068 | |
U.S. Treasury 0.375% 4/15/2024 | 100,000 | 95,886 | |
U.S. Treasury 2.00% 4/30/2024 | 72,000 | 69,908 | |
U.S. Treasury 2.00% 5/31/2024 | 17,400 | 16,860 | |
U.S. Treasury 1.75% 6/30/2024 | 38,572 | 37,212 | |
U.S. Treasury 2.00% 6/30/2024 | 45,000 | 43,522 | |
U.S. Treasury 3.00% 7/31/2024 | 4,500 | 4,397 | |
U.S. Treasury 4.25% 9/30/2024 | 515 | 511 | |
U.S. Treasury 2.25% 11/15/2024 | 18,000 | 17,367 | |
U.S. Treasury 1.75% 12/31/2024 | 18,000 | 17,201 | |
U.S. Treasury 4.125% 1/31/2025 | 229,124 | 227,190 | |
U.S. Treasury 4.625% 2/28/2025 | 486,000 | 486,353 | |
U.S. Treasury 3.875% 3/31/2025 | 91,793 | 90,746 | |
U.S. Treasury 3.875% 4/30/2025 | 60,000 | 59,356 | |
U.S. Treasury 2.75% 5/15/2025 | 39,750 | 38,497 | |
U.S. Treasury 2.875% 5/31/2025 | 500 | 485 | |
U.S. Treasury 3.00% 7/15/2025 | 1,015 | 987 | |
U.S. Treasury 3.125% 8/15/2025 | 32,000 | 31,210 | |
U.S. Treasury 0.25% 8/31/2025 | 500 | 457 | |
U.S. Treasury 3.00% 9/30/2025 | 28,160 | 27,383 | |
U.S. Treasury 3.00% 10/31/2025 | 13,284 | 12,919 | |
U.S. Treasury 4.50% 11/15/2025 | 456 | 459 | |
U.S. Treasury 0.375% 11/30/2025 | 1,320 | 1,202 | |
U.S. Treasury 0.75% 4/30/2026 | 30,000 | 27,301 | |
U.S. Treasury 1.375% 8/31/2026 | 2,500 | 2,302 | |
U.S. Treasury 0.875% 9/30/2026 | 400 | 362 | |
U.S. Treasury 1.25% 12/31/2026 | 180,000 | 164,027 | |
U.S. Treasury 1.50% 1/31/2027 | 11,000 | 10,090 | |
U.S. Treasury 1.875% 2/28/2027 | 18,680 | 17,355 | |
U.S. Treasury 2.75% 4/30/2027 | 48,950 | 46,897 | |
U.S. Treasury 2.375% 5/15/2027 | 10,000 | 9,446 | |
U.S. Treasury 0.50% 5/31/2027 | 31,400 | 27,485 | |
U.S. Treasury 2.625% 5/31/2027 | 3,000 | 2,859 | |
U.S. Treasury 0.50% 6/30/2027 | 14,000 | 12,225 | |
U.S. Treasury 3.25% 6/30/2027 | 36,300 | 35,425 | |
U.S. Treasury 2.75% 7/31/2027 | 174,575 | 167,000 | |
U.S. Treasury 0.50% 8/31/2027 | 58,455 | 50,812 | |
U.S. Treasury 0.375% 9/30/2027 | 70,750 | 61,009 |
U.S. Government Securities Fund — Page 9 of 17
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury (continued) | Principal amount (000) | Value (000) | |
U.S. Treasury 4.125% 9/30/2027 | USD15,100 | $15,251 | |
U.S. Treasury 0.50% 10/31/2027 | 18,790 | 16,253 | |
U.S. Treasury 0.625% 11/30/2027 | 3,100 | 2,692 | |
U.S. Treasury 3.875% 11/30/2027 | 44,000 | 44,080 | |
U.S. Treasury 3.875% 12/31/2027 | 166,000 | 166,295 | |
U.S. Treasury 0.75% 1/31/2028 | 2,900 | 2,523 | |
U.S. Treasury 4.00% 2/29/2028 | 103,425 | 104,351 | |
U.S. Treasury 1.25% 3/31/2028 | 69,390 | 61,612 | |
U.S. Treasury 1.25% 5/31/2028 | 6,300 | 5,576 | |
U.S. Treasury 1.25% 6/30/2028 | 59,360 | 52,430 | |
U.S. Treasury 1.00% 7/31/2028 | 25,880 | 22,518 | |
U.S. Treasury 1.75% 1/31/2029 | 25,000 | 22,433 | |
U.S. Treasury 2.875% 4/30/2029 | 23,500 | 22,395 | |
U.S. Treasury 2.625% 7/31/2029 | 63,533 | 59,628 | |
U.S. Treasury 3.875% 12/31/2029 | 1,241,000 | 1,250,720 | |
U.S. Treasury 3.50% 1/31/2030 | 57,025 | 56,255 | |
U.S. Treasury 0.625% 5/15/2030 | 30,880 | 25,110 | |
U.S. Treasury 6.25% 5/15/2030 | 5,250 | 6,064 | |
U.S. Treasury 0.625% 8/15/2030 | 14,510 | 11,735 | |
U.S. Treasury 1.625% 5/15/2031 | 62,550 | 53,933 | |
U.S. Treasury 1.375% 11/15/2031 | 20,000 | 16,726 | |
U.S. Treasury 1.875% 2/15/2032 | 15,000 | 13,035 | |
U.S. Treasury 3.50% 2/15/2033 | 472,900 | 467,228 | |
U.S. Treasury 5.00% 5/15/2037 | 1,500 | 1,718 | |
U.S. Treasury 4.25% 5/15/2039 | 10,300 | 10,874 | |
U.S. Treasury 4.50% 8/15/2039 | 10,000 | 10,861 | |
U.S. Treasury 1.125% 5/15/2040 | 39,700 | 25,805 | |
U.S. Treasury 1.125% 8/15/2040 | 103,890 | 66,973 | |
U.S. Treasury 1.375% 11/15/2040 | 4,914 | 3,296 | |
U.S. Treasury 1.875% 2/15/2041 | 46,291 | 33,740 | |
U.S. Treasury 2.25% 5/15/2041 | 44,863 | 34,705 | |
U.S. Treasury 1.75% 8/15/2041 | 55,890 | 39,422 | |
U.S. Treasury 2.00% 11/15/2041 | 8,620 | 6,336 | |
U.S. Treasury 3.125% 11/15/2041 | 10,000 | 8,876 | |
U.S. Treasury 3.25% 5/15/2042 | 42,000 | 37,711 | |
U.S. Treasury 2.75% 8/15/2042 | 6,000 | 4,975 | |
U.S. Treasury 2.75% 11/15/2042 | 10,000 | 8,269 | |
U.S. Treasury 3.875% 2/15/2043 | 22,550 | 22,127 | |
U.S. Treasury 2.875% 5/15/2043 | 10,880 | 9,160 | |
U.S. Treasury 3.875% 5/15/2043 | 10,630 | 10,432 | |
U.S. Treasury 3.375% 5/15/2044 | 18,500 | 16,777 | |
U.S. Treasury 2.50% 2/15/20455 | 60,000 | 46,603 | |
U.S. Treasury 3.00% 5/15/2045 | 3,350 | 2,841 | |
U.S. Treasury 2.875% 8/15/2045 | 5,000 | 4,144 | |
U.S. Treasury 3.00% 11/15/2045 | 3,500 | 2,963 | |
U.S. Treasury 2.50% 5/15/2046 | 50,000 | 38,598 | |
U.S. Treasury 3.00% 2/15/2047 | 29,425 | 24,870 | |
U.S. Treasury 2.75% 8/15/2047 | 3,000 | 2,422 | |
U.S. Treasury 2.75% 11/15/2047 | 7,250 | 5,852 | |
U.S. Treasury 3.00% 2/15/2048 | 9,435 | 7,978 | |
U.S. Treasury 3.125% 5/15/2048 | 6,500 | 5,623 | |
U.S. Treasury 3.00% 2/15/2049 | 9,800 | 8,303 | |
U.S. Treasury 2.875% 5/15/20495 | 94,000 | 77,808 | |
U.S. Treasury 2.25% 8/15/2049 | 16,800 | 12,206 |
U.S. Government Securities Fund — Page 10 of 17
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury (continued) | Principal amount (000) | Value (000) | |
U.S. Treasury 2.00% 2/15/2050 | USD61,360 | $42,014 | |
U.S. Treasury 1.25% 5/15/20505 | 177,750 | 99,710 | |
U.S. Treasury 1.375% 8/15/2050 | 63,180 | 36,596 | |
U.S. Treasury 1.625% 11/15/20505 | 292,196 | 180,962 | |
U.S. Treasury 1.875% 2/15/2051 | 52,054 | 34,379 | |
U.S. Treasury 2.375% 5/15/2051 | 32,050 | 23,806 | |
U.S. Treasury 2.00% 8/15/2051 | 72,003 | 48,950 | |
U.S. Treasury 1.875% 11/15/2051 | 18,120 | 11,917 | |
U.S. Treasury 2.25% 2/15/2052 | 500 | 360 | |
U.S. Treasury 2.875% 5/15/2052 | 42,000 | 34,758 | |
U.S. Treasury 3.00% 8/15/2052 | 84,540 | 71,810 | |
U.S. Treasury 4.00% 11/15/20525 | 99,564 | 102,289 | |
U.S. Treasury, principal only, 0% 8/15/20475 | 1,000 | 383 | |
5,741,987 | |||
U.S. Treasury inflation-protected securities 10.64% | |||
U.S. Treasury Inflation-Protected Security 0.50% 4/15/20246 | 33,557 | 32,745 | |
U.S. Treasury Inflation-Protected Security 0.125% 7/15/20246 | 160,780 | 156,086 | |
U.S. Treasury Inflation-Protected Security 0.125% 10/15/20246 | — 2 | — 2 | |
U.S. Treasury Inflation-Protected Security 0.125% 4/15/20256 | 75,258 | 72,090 | |
U.S. Treasury Inflation-Protected Security 0.375% 7/15/20256 | 652,582 | 629,432 | |
U.S. Treasury Inflation-Protected Security 0.125% 10/15/20256 | 98,954 | 94,611 | |
U.S. Treasury Inflation-Protected Security 0.625% 1/15/20266 | — 2 | — 2 | |
U.S. Treasury Inflation-Protected Security 0.125% 4/15/20266 | 184,056 | 174,255 | |
U.S. Treasury Inflation-Protected Security 0.125% 10/15/20266 | 278,018 | 262,840 | |
U.S. Treasury Inflation-Protected Security 0.125% 4/15/20276 | 66,431 | 62,211 | |
U.S. Treasury Inflation-Protected Security 1.625% 10/15/20276 | 132,299 | 132,049 | |
U.S. Treasury Inflation-Protected Security 0.125% 1/15/20316 | 220,280 | 198,550 | |
U.S. Treasury Inflation-Protected Security 0.125% 1/15/20326 | 57,257 | 51,085 | |
U.S. Treasury Inflation-Protected Security 2.125% 2/15/20416 | 3,790 | 4,093 | |
U.S. Treasury Inflation-Protected Security 0.75% 2/15/20425,6 | 114,254 | 97,319 | |
U.S. Treasury Inflation-Protected Security 0.625% 2/15/20436 | 44,487 | 36,572 | |
U.S. Treasury Inflation-Protected Security 1.00% 2/15/20495,6 | 59,249 | 50,940 | |
U.S. Treasury Inflation-Protected Security 0.25% 2/15/20506 | 1,838 | 1,283 | |
U.S. Treasury Inflation-Protected Security 0.125% 2/15/20515,6 | 68,272 | 45,368 | |
U.S. Treasury Inflation-Protected Security 0.125% 2/15/20526 | 17,701 | 11,712 | |
2,113,241 | |||
Total U.S. Treasury bonds & notes | 7,855,228 | ||
Federal agency bonds & notes 1.75% | |||
Export-Import Bank of the United States-Guaranteed, Ethiopian Leasing 2012, LLC 2.646% 5/12/2026 | 532 | 511 | |
Fannie Mae 0.625% 4/22/20255 | 147,420 | 137,147 | |
Fannie Mae 0.75% 10/8/2027 | 21,700 | 19,091 | |
Fannie Mae 7.125% 1/15/2030 | 5,000 | 5,944 | |
Fannie Mae 0.875% 8/5/2030 | 63,500 | 51,638 | |
Federal Home Loan Bank 3.375% 9/8/2023 | 14,160 | 14,087 | |
Federal Home Loan Bank 3.25% 11/16/2028 | 56,500 | 55,062 | |
Federal Home Loan Bank 5.50% 7/15/2036 | 1,000 | 1,149 | |
Private Export Funding Corp. 3.55% 1/15/2024 | 14,300 | 14,107 | |
Tennessee Valley Authority 0.75% 5/15/2025 | 13,200 | 12,241 | |
Tennessee Valley Authority 2.875% 2/1/2027 | 5,000 | 4,792 | |
Tennessee Valley Authority 4.65% 6/15/2035 | 4,480 | 4,615 | |
Tennessee Valley Authority 5.88% 4/1/2036 | 3,625 | 4,171 |
U.S. Government Securities Fund — Page 11 of 17
unaudited
Bonds, notes & other debt instruments (continued) Federal agency bonds & notes (continued) | Principal amount (000) | Value (000) | |
Tennessee Valley Authority, Series 2008, Class A, 4.875% 1/15/2048 | USD3,300 | $3,280 | |
Tennessee Valley Authority, Southaven Combined Cycle Generation, LLC, 3.846% 8/15/2033 | 1,458 | 1,368 | |
U.S. Agency for International Development, Israel (State of), Class 1A, 5.50% 9/18/2023 | 5,000 | 5,000 | |
U.S. Agency for International Development, Jordan (Kingdom of) 3.00% 6/30/2025 | 3,125 | 3,004 | |
U.S. Department of Housing and Urban Development, Series 2015-A-9, 2.80% 8/1/2023 | 500 | 498 | |
U.S. Department of Housing and Urban Development, Series 2015-A-10, 2.85% 8/1/2024 | 750 | 730 | |
U.S. Department of Housing and Urban Development, Series 2015-A-11, 2.95% 8/1/2025 | 875 | 843 | |
U.S. Department of Housing and Urban Development, Series 2015-A-12, 3.10% 8/1/2026 | 875 | 840 | |
U.S. Department of Housing and Urban Development, Series 2015-A-13, 3.15% 8/1/2027 | 3,850 | 3,673 | |
U.S. Department of Housing and Urban Development, Series 2015-A-14, 3.25% 8/1/2028 | 1,250 | 1,186 | |
U.S. Department of Housing and Urban Development, Series 2015-A-15, 3.35% 8/1/2029 | 850 | 800 | |
U.S. Department of Housing and Urban Development, Series 2015-A-16, 3.50% 8/1/2030 | 825 | 797 | |
U.S. Department of Housing and Urban Development, Series 2015-A-17, 3.55% 8/1/2031 | 825 | 797 | |
U.S. Department of Housing and Urban Development, Series 2015-A-18, 3.60% 8/1/2032 | 800 | 754 | |
U.S. Department of Housing and Urban Development, Series 2015-A-19, 3.65% 8/1/2033 | 675 | 634 | |
348,759 | |||
Total bonds, notes & other debt instruments (cost: $19,874,183,000) | 18,905,629 | ||
Short-term securities 42.24% Money market investments 32.79% | Shares | ||
Capital Group Central Cash Fund 5.11%7,8 | 65,176,939 | 6,517,042 | |
Federal agency bills & notes 7.98% | Weighted average yield at acquisition | Principal amount (000) | |
Federal Home Loan Bank 6/9/2023 | 4.906 % | USD150,000 | 149,849 |
Federal Home Loan Bank 7/28/2023 | 4.928 | 75,000 | 74,397 |
Federal Home Loan Bank 8/11/2023 | 4.936 | 200,000 | 197,995 |
Federal Home Loan Bank 8/18/2023 | 5.033 | 300,000 | 296,694 |
Federal Home Loan Bank 8/30/2023 | 4.944 | 160,000 | 157,955 |
Federal Home Loan Bank 9/1/2023 | 5.040 | 100,000 | 98,694 |
Federal Home Loan Bank 9/8/2023 | 4.958 | 319,000 | 314,518 |
Federal Home Loan Bank 9/22/2023 | 5.191 | 300,000 | 295,188 |
1,585,290 | |||
U.S. Treasury bills 1.47% | |||
U.S. Treasury 11/2/2023 | 4.530 | 300,000 | 293,286 |
Total short-term securities (cost: $8,397,051,000) | 8,395,618 | ||
Total investment securities 137.37% (cost: $28,271,234,000) | 27,301,247 | ||
Other assets less liabilities (37.37)% | (7,427,465 ) | ||
Net assets 100.00% | $19,873,782 |
U.S. Government Securities Fund — Page 12 of 17
unaudited
Futures contracts
Contracts | Type | Number of contracts | Expiration | Notional amount (000) | Value and unrealized (depreciation) appreciation at 5/31/2023 (000) |
30 Day Federal Funds Futures | Long | 8,110 | May 2023 | USD3,208,606 | $(1,176 ) |
30 Day Federal Funds Futures | Long | 11,568 | July 2023 | 4,570,690 | (4,566 ) |
30 Day Federal Funds Futures | Short | 755 | October 2023 | (298,170 ) | (161 ) |
30 Day Federal Funds Futures | Long | 755 | November 2023 | 298,626 | 872 |
3 Month SOFR Futures | Short | 3,180 | June 2023 | (755,648 ) | 13,320 |
3 Month SOFR Futures | Long | 1,217 | September 2023 | 288,186 | 101 |
3 Month SOFR Futures | Long | 17,770 | December 2023 | 4,212,823 | (17,619 ) |
3 Month SOFR Futures | Short | 10,965 | March 2024 | (2,608,436 ) | 11,968 |
3 Month SOFR Futures | Short | 2,324 | March 2025 | (562,147 ) | 910 |
2 Year U.S. Treasury Note Futures | Long | 39,062 | September 2023 | 8,040,058 | (11,109 ) |
5 Year U.S. Treasury Note Futures | Long | 41,981 | September 2023 | 4,579,209 | 5,931 |
10 Year U.S. Treasury Note Futures | Long | 15,074 | September 2023 | 1,725,502 | 8,927 |
10 Year Ultra U.S. Treasury Note Futures | Short | 11,750 | September 2023 | (1,415,324 ) | (7,899 ) |
20 Year U.S. Treasury Bond Futures | Short | 4,874 | September 2023 | (625,547 ) | (7,842 ) |
30 Year Ultra U.S. Treasury Bond Futures | Long | 3,257 | September 2023 | 445,802 | 7,146 |
$(1,197 ) |
Swap contracts
Interest rate swaps
Centrally cleared interest rate swaps
Receive | Pay | Expiration date | Notional amount (000) | Value at 5/31/2023 (000) | Upfront premium paid (000) | Unrealized appreciation (depreciation) at 5/31/2023 (000) | ||
Rate | Payment frequency | Rate | Payment frequency | |||||
U.S. EFFR | Annual | 2.4325% | Annual | 12/21/2023 | USD94,000 | $1,472 | $— | $1,472 |
4.8585% | Annual | U.S. EFFR | Annual | 1/12/2024 | 221,732 | (625 ) | — | (625 ) |
4.8674% | Annual | U.S. EFFR | Annual | 1/12/2024 | 324,867 | (898 ) | — | (898 ) |
4.8615% | Annual | U.S. EFFR | Annual | 1/12/2024 | 443,400 | (1,241 ) | — | (1,241 ) |
0.2405% | Annual | U.S. EFFR | Annual | 3/1/2024 | 467,500 | (16,885 ) | — | (16,885 ) |
U.S. EFFR | Annual | 0.11% | Annual | 5/18/2024 | 718,900 | 33,354 | — | 33,354 |
3.497% | Annual | U.S. EFFR | Annual | 6/16/2024 | 309,200 | (4,732 ) | — | (4,732 ) |
3.52647% | Annual | U.S. EFFR | Annual | 6/16/2024 | 336,442 | (5,049 ) | — | (5,049 ) |
3.5291% | Annual | U.S. EFFR | Annual | 6/16/2024 | 363,558 | (5,446 ) | — | (5,446 ) |
3.4585% | Annual | U.S. EFFR | Annual | 6/17/2024 | 47,859 | (751 ) | — | (751 ) |
3.4325% | Annual | U.S. EFFR | Annual | 6/17/2024 | 227,000 | (3,622 ) | — | (3,622 ) |
U.S. EFFR | Annual | 0.126% | Annual | 6/25/2025 | 148,100 | 11,963 | — | 11,963 |
U.S. EFFR | Annual | 0.1275% | Annual | 6/25/2025 | 148,100 | 11,959 | — | 11,959 |
U.S. EFFR | Annual | 0.106% | Annual | 6/30/2025 | 165,373 | 13,479 | — | 13,479 |
SOFR | Annual | 3.916% | Annual | 7/11/2025 | 188,700 | 1,179 | — | 1,179 |
4.27% | Annual | SOFR | Annual | 2/16/2026 | 118,860 | 895 | — | 895 |
4.265% | Annual | SOFR | Annual | 2/16/2026 | 58,987 | 437 | — | 437 |
4.3035% | Annual | SOFR | Annual | 2/17/2026 | 35,408 | 297 | — | 297 |
4.2675% | Annual | SOFR | Annual | 2/17/2026 | 34,181 | 255 | — | 255 |
4.2515% | Annual | SOFR | Annual | 2/17/2026 | 35,065 | 247 | — | 247 |
4.3005% | Annual | SOFR | Annual | 2/17/2026 | 24,555 | 204 | — | 204 |
4.288% | Annual | SOFR | Annual | 2/17/2026 | 24,945 | 199 | — | 199 |
3.45% | Annual | SOFR | Annual | 2/1/2028 | 166,200 | (813 ) | — | (813 ) |
U.S. Government Securities Fund — Page 13 of 17
unaudited
Swap contracts (continued)
Interest rate swaps (continued)
Centrally cleared interest rate swaps (continued)
Interest rate swaps (continued)
Centrally cleared interest rate swaps (continued)
Receive | Pay | Expiration date | Notional amount (000) | Value at 5/31/2023 (000) | Upfront premium paid (000) | Unrealized appreciation (depreciation) at 5/31/2023 (000) | ||
Rate | Payment frequency | Rate | Payment frequency | |||||
3.47% | Annual | SOFR | Annual | 2/2/2028 | USD43,700 | $(176 ) | $— | $(176 ) |
3.16% | Annual | SOFR | Annual | 6/20/2028 | 39,600 | (624 ) | — | (624 ) |
U.S. EFFR | Annual | 2.32625% | Annual | 4/18/2029 | 60,500 | 3,612 | — | 3,612 |
3.177% | Annual | SOFR | Annual | 2/28/2030 | 30,800 | (463 ) | — | (463 ) |
U.S. EFFR | Annual | 0.5385% | Annual | 3/26/2030 | 233,200 | 40,331 | — | 40,331 |
3.18% | Annual | SOFR | Annual | 4/17/2030 | 33,200 | (495 ) | — | (495 ) |
3.275% | Annual | SOFR | Annual | 4/18/2030 | 33,200 | (303 ) | — | (303 ) |
3.353% | Annual | SOFR | Annual | 4/19/2030 | 33,200 | (146 ) | — | (146 ) |
3.342% | Annual | SOFR | Annual | 4/19/2030 | 33,200 | (168 ) | — | (168 ) |
3.344% | Annual | SOFR | Annual | 4/20/2030 | 33,200 | (164 ) | — | (164 ) |
3.128% | Annual | SOFR | Annual | 4/28/2030 | 33,200 | (599 ) | — | (599 ) |
3.285% | Annual | SOFR | Annual | 5/1/2030 | 33,200 | (281 ) | — | (281 ) |
3.259% | Annual | SOFR | Annual | 5/1/2030 | 33,100 | (333 ) | — | (333 ) |
3.186% | Annual | SOFR | Annual | 5/9/2030 | 33,100 | (479 ) | — | (479 ) |
3.215% | Annual | SOFR | Annual | 5/10/2030 | 33,200 | (422 ) | — | (422 ) |
3.29% | Annual | SOFR | Annual | 5/19/2030 | 39,700 | (320 ) | — | (320 ) |
3.31% | Annual | SOFR | Annual | 6/9/2030 | 203,200 | (1,367 ) | — | (1,367 ) |
U.S. EFFR | Annual | 0.666% | Annual | 11/19/2030 | 111,300 | 19,812 | — | 19,812 |
SOFR | Annual | 3.10% | Annual | 6/20/2033 | 21,400 | 476 | — | 476 |
SOFR | Annual | 3.175% | Annual | 2/1/2038 | 92,000 | 728 | — | 728 |
3.065% | Annual | SOFR | Annual | 4/7/2040 | 16,700 | (683 ) | — | (683 ) |
SOFR | Annual | 3.41% | Annual | 7/28/2045 | 172,600 | (2,542 ) | — | (2,542 ) |
SOFR | Annual | 3.01413% | Annual | 1/12/2053 | 17,216 | 517 | — | 517 |
SOFR | Annual | 3.02% | Annual | 1/12/2053 | 17,200 | 498 | — | 498 |
SOFR | Annual | 2.974% | Annual | 4/17/2053 | 10,400 | 383 | — | 383 |
SOFR | Annual | 2.967% | Annual | 4/17/2053 | 9,400 | 358 | — | 358 |
SOFR | Annual | 3.044% | Annual | 4/18/2053 | 10,500 | 247 | — | 247 |
SOFR | Annual | 3.0875% | Annual | 4/19/2053 | 10,500 | 160 | — | 160 |
SOFR | Annual | 3.1035% | Annual | 4/19/2053 | 10,500 | 128 | — | 128 |
SOFR | Annual | 3.0895% | Annual | 4/20/2053 | 10,500 | 156 | — | 156 |
SOFR | Annual | 2.9405% | Annual | 4/28/2053 | 10,600 | 456 | — | 456 |
SOFR | Annual | 3.0535% | Annual | 5/1/2053 | 21,100 | 455 | — | 455 |
SOFR | Annual | 3.085% | Annual | 5/9/2053 | 10,600 | 164 | — | 164 |
SOFR | Annual | 3.1135% | Annual | 5/10/2053 | 10,600 | 107 | — | 107 |
SOFR | Annual | 3.1605% | Annual | 5/19/2053 | 12,800 | 14 | — | 14 |
$94,915 | $— | $94,915 |
Investments in affiliates8
Value of affiliate at 9/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (000) | Net unrealized depreciation (000) | Value of affiliate at 5/31/2023 (000) | Dividend income (000) | |
Short-term securities 32.79% | |||||||
Money market investments 32.79% | |||||||
Capital Group Central Cash Fund 5.11%7 | $3,670,895 | $15,364,990 | $12,519,484 | $1,306 | $(665 ) | $6,517,042 | $123,136 |
U.S. Government Securities Fund — Page 14 of 17
unaudited
1 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
2 | Amount less than one thousand. |
3 | Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. |
4 | Purchased on a TBA basis. |
5 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $318,181,000, which represented 1.60% of the net assets of the fund. |
6 | Index-linked bond whose principal amount moves with a government price index. |
7 | Rate represents the seven-day yield at 5/31/2023. |
8 | Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended. |
Valuation disclosures
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
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”) |
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 |
The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. The average month-end notional amount of futures contracts while held was $26,836,373,000. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract. The average month-end notional amounts of interest rate swaps while held were $8,122,955,000.
U.S. Government Securities Fund — Page 15 of 17
unaudited
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the fund’s investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has designated the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser’s global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of May 31, 2023 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Bonds, notes & other debt instruments: | ||||
Mortgage-backed obligations | $— | $10,701,642 | $— | $10,701,642 |
U.S. Treasury bonds & notes | — | 7,855,228 | — | 7,855,228 |
Federal agency bonds & notes | — | 348,759 | — | 348,759 |
Short-term securities | 6,517,042 | 1,878,576 | — | 8,395,618 |
Total | $6,517,042 | $20,784,205 | $— | $27,301,247 |
Other investments* | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on futures contracts | $49,175 | $— | $— | $49,175 |
Unrealized appreciation on centrally cleared interest rate swaps | — | 144,542 | — | 144,542 |
Liabilities: | ||||
Unrealized depreciation on futures contracts | (50,372 ) | — | — | (50,372 ) |
Unrealized depreciation on centrally cleared interest rate swaps | — | (49,627 ) | — | (49,627 ) |
Total | $(1,197 ) | $94,915 | $— | $93,718 |
*
Futures contracts and interest rate swaps are not included in the fund’s investment portfolio.
U.S. Government Securities Fund — Page 16 of 17
unaudited
Key to abbreviations |
Assn. = Association |
EFFR = Effective Federal Funds Rate |
LIBOR = London Interbank Offered Rate |
SOFR = Secured Overnight Financing Rate |
TBA = To be announced |
USD = U.S. dollars |
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2023 Capital Group. All rights reserved.
MFGEFP3-022-0723O-S96446
U.S. Government Securities Fund — Page 17 of 17