American High-Income Trust®
Investment portfolio
June 30, 2024unaudited
Bonds, notes & other debt instruments 86.64% Corporate bonds, notes & loans 85.95% Energy 14.19% | Principal amount (000) | Value (000) | |
3R Lux SARL 9.75% 2/5/20311 | USD11,370 | $11,941 | |
Aethon United BR, LP 8.25% 2/15/20261 | 9,500 | 9,611 | |
Antero Midstream Partners, LP 5.375% 6/15/20291 | 10,095 | 9,793 | |
Antero Resources Corp. 7.625% 2/1/20291 | 4,356 | 4,488 | |
Antero Resources Corp. 5.375% 3/1/20301 | 4,600 | 4,455 | |
Apache Corp. 4.625% 11/15/2025 | 5,540 | 5,474 | |
Apache Corp. 5.10% 9/1/2040 | 13,635 | 11,645 | |
Apache Corp. 4.75% 4/15/2043 | 3,015 | 2,414 | |
Archrock Partners, LP 6.25% 4/1/20281 | 3,815 | 3,782 | |
Ascent Resources Utica Holdings, LLC 7.00% 11/1/20261 | 38,410 | 38,477 | |
Ascent Resources Utica Holdings, LLC 9.00% 11/1/20271 | 3,830 | 4,748 | |
Ascent Resources Utica Holdings, LLC 8.25% 12/31/20281 | 4,042 | 4,145 | |
Ascent Resources Utica Holdings, LLC 5.875% 6/30/20291 | 24,485 | 23,947 | |
Baytex Energy Corp. 8.50% 4/30/20301 | 10,440 | 10,927 | |
Baytex Energy Corp. 7.375% 3/15/20321 | 41,905 | 42,616 | |
BIP-V Chinook Holdco, LLC 5.50% 6/15/20311 | 25,330 | 24,029 | |
Blue Racer Midstream, LLC 7.00% 7/15/20291 | 2,785 | 2,838 | |
Blue Racer Midstream, LLC 7.25% 7/15/20321 | 16,370 | 16,841 | |
Borr IHC, Ltd. 10.00% 11/15/20281 | 59,756 | 62,632 | |
Borr IHC, Ltd. 10.375% 11/15/20301 | 17,687 | 18,541 | |
California Resources Corp. 7.125% 2/1/20261 | 6,275 | 6,294 | |
California Resources Corp. 8.25% 6/15/20291 | 11,625 | 11,875 | |
Cenovus Energy, Inc. 5.375% 7/15/2025 | 204 | 202 | |
Cenovus Energy, Inc. 4.25% 4/15/2027 | 390 | 379 | |
Cenovus Energy, Inc. 5.25% 6/15/2037 | 151 | 145 | |
Cenovus Energy, Inc. 5.40% 6/15/2047 | 232 | 214 | |
Cheniere Energy Partners, LP 4.50% 10/1/2029 | 618 | 589 | |
Cheniere Energy, Inc. 4.625% 10/15/2028 | 20,199 | 19,617 | |
Chesapeake Energy Corp. 5.75% 3/15/20232 | 1,730 | 36 | |
Chesapeake Energy Corp. 5.50% 2/1/20261 | 15,875 | 15,743 | |
Chesapeake Energy Corp. 5.875% 2/1/20291 | 36,865 | 36,519 | |
Chesapeake Energy Corp. 6.75% 4/15/20291 | 14,610 | 14,651 | |
Chesapeake Energy Corp. 4.875% 4/15/20322 | 28,871 | 602 | |
Chord Energy Corp. 6.375% 6/1/20261 | 2,865 | 2,867 | |
CITGO Petroleum Corp. 8.375% 1/15/20291 | 29,970 | 30,917 | |
Civitas Resources, Inc. 5.00% 10/15/20261 | 17,860 | 17,403 | |
Civitas Resources, Inc. 8.375% 7/1/20281 | 10,415 | 10,926 | |
Civitas Resources, Inc. 8.625% 11/1/20301 | 16,405 | 17,603 | |
Civitas Resources, Inc. 8.75% 7/1/20311 | 65,373 | 70,093 | |
CNX Midstream Partners, LP 4.75% 4/15/20301 | 5,745 | 5,182 | |
CNX Resources Corp. 6.00% 1/15/20291 | 28,863 | 28,268 | |
CNX Resources Corp. 7.375% 1/15/20311 | 18,926 | 19,374 | |
CNX Resources Corp. 7.25% 3/1/20321 | 20,975 | 21,409 | |
Comstock Resources, Inc. 6.75% 3/1/20291 | 15,215 | 14,757 | |
Comstock Resources, Inc. 5.875% 1/15/20301 | 26,030 | 24,239 |
American High-Income Trust — Page 1 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Constellation Oil Services Holding SA 13.50% 6/30/20251,3 | USD4,402 | $4,402 | |
Constellation Oil Services Holding SA 3.00% Cash 12/31/20264 | 47,404 | 38,990 | |
Crescent Energy Finance, LLC 9.25% 2/15/20281 | 42,981 | 45,454 | |
Crescent Energy Finance, LLC 7.625% 4/1/20321 | 28,840 | 29,413 | |
Crescent Energy Finance, LLC 7.375% 1/15/20331 | 12,385 | 12,419 | |
Delek Logistics Partners, LP 8.625% 3/15/20291 | 8,050 | 8,291 | |
Devon Energy Corp. 5.875% 6/15/2028 | 2,830 | 2,840 | |
Devon Energy Corp. 4.50% 1/15/2030 | 10,040 | 9,666 | |
Diamond Foreign Asset Co. 8.50% 10/1/20301 | 7,845 | 8,242 | |
DT Midstream, Inc. 4.125% 6/15/20291 | 26,695 | 24,684 | |
DT Midstream, Inc. 4.375% 6/15/20311 | 7,241 | 6,600 | |
Ecopetrol SA 8.375% 1/19/2036 | 6,860 | 6,742 | |
Encino Acquisition Partners Holdings, LLC 8.50% 5/1/20281 | 15,469 | 15,777 | |
Encino Acquisition Partners Holdings, LLC 8.75% 5/1/20311 | 25,420 | 26,526 | |
Energean Israel Finance, Ltd. 4.875% 3/30/20261 | 5,000 | 4,724 | |
Energean Israel Finance, Ltd. 5.375% 3/30/20281 | 5,000 | 4,445 | |
Energean Israel Finance, Ltd. 5.875% 3/30/20311 | 22,830 | 19,385 | |
Energy Transfer, LP 6.00% 2/1/20291 | 1,500 | 1,511 | |
Energy Transfer, LP 7.375% 2/1/20311 | 377 | 394 | |
EQM Midstream Partners, LP 4.125% 12/1/2026 | 1,987 | 1,917 | |
EQM Midstream Partners, LP 6.50% 7/1/20271 | 20,265 | 20,497 | |
EQM Midstream Partners, LP 5.50% 7/15/2028 | 10,806 | 10,648 | |
EQM Midstream Partners, LP 4.50% 1/15/20291 | 16,210 | 15,310 | |
EQM Midstream Partners, LP 6.375% 4/1/20291 | 4,000 | 4,043 | |
EQM Midstream Partners, LP 7.50% 6/1/20301 | 7,428 | 7,932 | |
EQM Midstream Partners, LP 4.75% 1/15/20311 | 34,178 | 31,979 | |
EQM Midstream Partners, LP 6.50% 7/15/2048 | 23,953 | 24,200 | |
EQT Corp. 5.00% 1/15/2029 | 3,925 | 3,854 | |
EQT Corp. 3.625% 5/15/20311 | 6,515 | 5,752 | |
Genesis Energy, LP 8.00% 1/15/2027 | 66,354 | 67,902 | |
Genesis Energy, LP 7.75% 2/1/2028 | 10,055 | 10,170 | |
Genesis Energy, LP 8.25% 1/15/2029 | 32,535 | 33,614 | |
Genesis Energy, LP 8.875% 4/15/2030 | 23,828 | 25,087 | |
Genesis Energy, LP 7.875% 5/15/2032 | 55,735 | 56,305 | |
Global Partners, LP 6.875% 1/15/2029 | 2,950 | 2,925 | |
Global Partners, LP 8.25% 1/15/20321 | 11,825 | 12,163 | |
Harbour Energy PLC 5.50% 10/15/20261 | 30,030 | 29,464 | |
Harvest Midstream I, LP 7.50% 9/1/20281 | 35,517 | 36,115 | |
Harvest Midstream I, LP 7.50% 5/15/20321 | 20,180 | 20,511 | |
Hess Midstream Operations, LP 5.125% 6/15/20281 | 6,390 | 6,192 | |
Hess Midstream Operations, LP 6.50% 6/1/20291 | 8,995 | 9,124 | |
Hess Midstream Operations, LP 4.25% 2/15/20301 | 28,875 | 26,524 | |
Hess Midstream Operations, LP 5.50% 10/15/20301 | 9,470 | 9,157 | |
Hilcorp Energy I, LP 6.25% 11/1/20281 | 3,515 | 3,474 | |
Hilcorp Energy I, LP 5.75% 2/1/20291 | 21,475 | 20,797 | |
Hilcorp Energy I, LP 6.00% 4/15/20301 | 18,338 | 17,726 | |
Hilcorp Energy I, LP 6.00% 2/1/20311 | 24,212 | 23,200 | |
Hilcorp Energy I, LP 6.25% 4/15/20321 | 20,585 | 19,812 | |
Hilcorp Energy I, LP 8.375% 11/1/20331 | 43,831 | 46,745 | |
Jonah Energy, LLC 12.00% 11/5/20253 | 16,449 | 16,449 | |
Kodiak Gas Services, LLC 7.25% 2/15/20291 | 15,320 | 15,716 | |
Lealand Finance Co. BV, Term Loan, (3-month USD CME Term SOFR + 1.00%) 3.00% PIK and 6.44% Cash 12/31/20274,5,6 | 40 | 18 | |
Matador Resources Co. 6.875% 4/15/20281 | 8,675 | 8,816 |
American High-Income Trust — Page 2 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Matador Resources Co. 6.50% 4/15/20321 | USD17,840 | $17,855 | |
MEG Energy Corp. 5.875% 2/1/20291 | 10,730 | 10,446 | |
Mesquite Energy, Inc. 7.25% 2/15/20231,2 | 22,796 | 1,197 | |
Murphy Oil Corp. 6.375% 7/15/2028 | 4,682 | 4,722 | |
Murphy Oil USA, Inc. 3.75% 2/15/20311 | 21,480 | 18,938 | |
Nabors Industries, Inc. 7.375% 5/15/20271 | 29,980 | 30,519 | |
Nabors Industries, Inc. 9.125% 1/31/20301 | 29,060 | 30,129 | |
Nabors Industries, Ltd. 7.25% 1/15/20261 | 10,380 | 10,539 | |
New Fortress Energy, Inc. 6.75% 9/15/20251 | 19,362 | 18,810 | |
New Fortress Energy, Inc. 6.50% 9/30/20261 | 114,673 | 105,591 | |
New Fortress Energy, Inc. 8.75% 3/15/20291 | 57,015 | 52,095 | |
New Fortress Energy, Inc., Term Loan, (3-month USD CME Term SOFR + 5.00%) 10.33% 10/30/20285,6 | 6,174 | 6,016 | |
NGL Energy Operating, LLC 8.125% 2/15/20291 | 20,580 | 20,985 | |
NGL Energy Operating, LLC 8.375% 2/15/20321 | 41,250 | 41,918 | |
NGPL PipeCo, LLC 4.875% 8/15/20271 | 1,010 | 988 | |
Noble Finance II, LLC 8.00% 4/15/20301 | 2,925 | 3,046 | |
Northern Oil and Gas, Inc. 8.125% 3/1/20281 | 38,230 | 38,690 | |
Northern Oil and Gas, Inc. 8.75% 6/15/20311 | 16,655 | 17,497 | |
NuStar Logistics, LP 6.00% 6/1/2026 | 6,129 | 6,123 | |
Occidental Petroleum Corp. 4.20% 3/15/2048 | 2,543 | 1,941 | |
Parkland Corp. 4.625% 5/1/20301 | 7,220 | 6,590 | |
Permian Resources Operating, LLC 8.00% 4/15/20271 | 1,190 | 1,218 | |
Permian Resources Operating, LLC 5.875% 7/1/20291 | 1,375 | 1,355 | |
Permian Resources Operating, LLC 9.875% 7/15/20311 | 35,710 | 39,559 | |
Permian Resources Operating, LLC 7.00% 1/15/20321 | 22,620 | 23,252 | |
Petroleos Mexicanos 6.875% 10/16/2025 | 6,200 | 6,182 | |
Petroleos Mexicanos 6.875% 8/4/2026 | 5,000 | 4,899 | |
Petroleos Mexicanos 8.75% 6/2/2029 | 14,137 | 13,895 | |
Petroleos Mexicanos 5.95% 1/28/2031 | 10,880 | 8,775 | |
Petroleos Mexicanos 6.95% 1/28/2060 | 9,580 | 6,344 | |
Pluspetrol Camisea SA 6.24% 7/3/20361 | 3,415 | 3,420 | |
Range Resources Corp. 4.875% 5/15/2025 | 5,803 | 5,771 | |
Range Resources Corp. 8.25% 1/15/2029 | 10,550 | 10,941 | |
Range Resources Corp. 4.75% 2/15/20301 | 14,862 | 13,955 | |
Saturn Oil & Gas, Inc. 9.625% 6/15/20291 | 26,695 | 26,965 | |
Seadrill Finance, Ltd. 8.375% 8/1/20301 | 14,905 | 15,591 | |
SM Energy Co. 6.50% 7/15/2028 | 2,910 | 2,887 | |
Southwestern Energy Co. 5.70% 1/23/20257 | 5,630 | 5,625 | |
Southwestern Energy Co. 8.375% 9/15/2028 | 8,875 | 9,183 | |
Southwestern Energy Co. 5.375% 3/15/2030 | 15,225 | 14,718 | |
Southwestern Energy Co. 4.75% 2/1/2032 | 4,615 | 4,248 | |
Suburban Propane Partners, LP 5.00% 6/1/20311 | 4,610 | 4,155 | |
Sunoco, LP 6.00% 4/15/2027 | 12,591 | 12,582 | |
Sunoco, LP 5.875% 3/15/2028 | 4,885 | 4,868 | |
Sunoco, LP 7.00% 9/15/20281 | 34,975 | 35,874 | |
Sunoco, LP 7.00% 5/1/20291 | 6,585 | 6,754 | |
Sunoco, LP 4.50% 5/15/2029 | 38,080 | 35,642 | |
Sunoco, LP 4.50% 4/30/2030 | 40,575 | 37,558 | |
Sunoco, LP 7.25% 5/1/20321 | 19,080 | 19,750 | |
Superior Plus, LP 4.50% 3/15/20291 | 6,485 | 5,957 | |
Tallgrass Energy Partners, LP 7.50% 10/1/20251 | 2,535 | 2,548 | |
Talos Production, Inc. 9.00% 2/1/20291 | 20,510 | 21,542 | |
Talos Production, Inc. 9.375% 2/1/20311 | 26,275 | 27,759 |
American High-Income Trust — Page 3 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Targa Resources Partners, LP 6.50% 7/15/2027 | USD4,322 | $4,356 | |
Targa Resources Partners, LP 6.875% 1/15/2029 | 18,530 | 19,014 | |
Targa Resources Partners, LP 5.50% 3/1/2030 | 6,906 | 6,868 | |
Targa Resources Partners, LP 4.875% 2/1/2031 | 13,835 | 13,211 | |
Transocean Aquila, Ltd. 8.00% 9/30/20281 | 8,310 | 8,449 | |
Transocean Poseidon, Ltd. 6.875% 2/1/20271 | 9,686 | 9,682 | |
Transocean Titan Financing, Ltd. 8.375% 2/1/20281 | 24,931 | 25,756 | |
Transocean, Inc. 8.25% 5/15/20291 | 6,410 | 6,431 | |
Transocean, Inc. 8.75% 2/15/20301 | 16,205 | 17,027 | |
Transocean, Inc. 8.50% 5/15/20311 | 11,015 | 11,029 | |
Transocean, Inc. 6.80% 3/15/2038 | 10,600 | 8,801 | |
USA Compression Partners, LP 6.875% 9/1/2027 | 2,403 | 2,410 | |
USA Compression Partners, LP 7.125% 3/15/20291 | 15,380 | 15,510 | |
Valaris, Ltd. 8.375% 4/30/20301 | 8,000 | 8,289 | |
Venture Global Calcasieu Pass, LLC 3.875% 8/15/20291 | 28,325 | 25,815 | |
Venture Global Calcasieu Pass, LLC 6.25% 1/15/20301 | 3,784 | 3,843 | |
Venture Global Calcasieu Pass, LLC 4.125% 8/15/20311 | 47,040 | 42,243 | |
Venture Global Calcasieu Pass, LLC 3.875% 11/1/20331 | 23,430 | 19,986 | |
Venture Global LNG, Inc. 8.125% 6/1/20281 | 14,650 | 15,104 | |
Venture Global LNG, Inc. 9.50% 2/1/20291 | 8,775 | 9,615 | |
Venture Global LNG, Inc. 8.375% 6/1/20311 | 20,220 | 20,988 | |
Vital Energy, Inc. 7.875% 4/15/20321 | 16,780 | 17,071 | |
W&T Offshore, Inc. 11.75% 2/1/20261 | 7,100 | 7,309 | |
Weatherford International, Ltd. 8.625% 4/30/20301 | 72,731 | 75,428 | |
Western Midstream Operating, LP 3.10% 2/1/20257 | 4,955 | 4,873 | |
Western Midstream Operating, LP 4.50% 3/1/2028 | 340 | 328 | |
Western Midstream Operating, LP 5.25% 2/1/20507 | 5,500 | 4,826 | |
2,880,560 | |||
Communication services 11.64% | |||
Altice France Holding SA 10.50% 5/15/20271 | 22,035 | 8,820 | |
Altice France SA 5.125% 7/15/20291 | 53,921 | 35,543 | |
Altice France SA 5.50% 10/15/20291 | 6,794 | 4,487 | |
América Móvil, SAB de CV 10.125% 1/22/2029 | MXN129,800 | 6,907 | |
CCO Holdings, LLC 5.50% 5/1/20261 | USD2,094 | 2,075 | |
CCO Holdings, LLC 5.125% 5/1/20271 | 9,878 | 9,492 | |
CCO Holdings, LLC 5.00% 2/1/20281 | 25,249 | 23,626 | |
CCO Holdings, LLC 5.375% 6/1/20291 | 7,126 | 6,490 | |
CCO Holdings, LLC 6.375% 9/1/20291 | 4,400 | 4,185 | |
CCO Holdings, LLC 4.75% 3/1/20301 | 62,543 | 54,210 | |
CCO Holdings, LLC 4.50% 8/15/20301 | 56,879 | 48,196 | |
CCO Holdings, LLC 4.25% 2/1/20311 | 42,647 | 34,852 | |
CCO Holdings, LLC 4.75% 2/1/20321 | 38,551 | 31,600 | |
CCO Holdings, LLC 4.50% 5/1/2032 | 56,859 | 45,834 | |
CCO Holdings, LLC 4.50% 6/1/20331 | 46,733 | 36,820 | |
CCO Holdings, LLC 4.25% 1/15/20341 | 65,725 | 49,943 | |
Charter Communications Operating, LLC 5.25% 4/1/2053 | 10,825 | 8,501 | |
Clear Channel Outdoor Holdings, Inc. 7.75% 4/15/20281 | 11,000 | 9,638 | |
Clear Channel Outdoor Holdings, Inc. 7.50% 6/1/20291 | 5,000 | 4,183 | |
Cogent Communications Group, Inc. 3.50% 5/1/20261 | 8,445 | 8,095 | |
Connect Finco SARL 6.75% 10/1/20261 | 80,175 | 77,450 | |
Consolidated Communications, Inc. 5.00% 10/1/20281 | 14,350 | 11,884 | |
CSC Holdings, LLC 5.50% 4/15/20271 | 2,700 | 2,193 | |
CSC Holdings, LLC 5.375% 2/1/20281 | 2,425 | 1,845 |
American High-Income Trust — Page 4 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
CSC Holdings, LLC 3.375% 2/15/20311 | USD1,000 | $625 | |
CSC Holdings, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 9.829% 1/18/20285,6 | 25,386 | 24,459 | |
Diamond Sports Group, LLC 5.375% 8/15/20261,2 | 9,835 | 203 | |
Diamond Sports Group, LLC 6.625% 8/15/20271,2 | 18,432 | 380 | |
Diamond Sports Group, LLC, Term Loan, 5.00% 12/2/20244,5 | 1,584 | 2,247 | |
DIRECTV Financing, LLC 5.875% 8/15/20271 | 59,475 | 55,991 | |
DIRECTV Financing, LLC 8.875% 2/1/20301 | 7,075 | 6,930 | |
DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 10.458% 8/2/20275,6 | 11,992 | 12,038 | |
DISH DBS Corp. 5.875% 11/15/2024 | 245,395 | 233,219 | |
DISH DBS Corp. 7.75% 7/1/2026 | 22,235 | 13,825 | |
DISH DBS Corp. 5.25% 12/1/20261 | 4,575 | 3,617 | |
DISH Network Corp. 11.75% 11/15/20271 | 125,195 | 122,872 | |
Embarq Corp. 7.995% 6/1/2036 | 86,526 | 11,360 | |
Frontier Communications Holdings, LLC 5.875% 10/15/20271 | 16,900 | 16,516 | |
Frontier Communications Holdings, LLC 5.00% 5/1/20281 | 66,465 | 62,684 | |
Frontier Communications Holdings, LLC 6.75% 5/1/20291 | 72,033 | 66,145 | |
Frontier Communications Holdings, LLC 5.875% 11/1/2029 | 18,607 | 16,229 | |
Frontier Communications Holdings, LLC 6.00% 1/15/20301 | 37,085 | 32,317 | |
Frontier Communications Holdings, LLC 8.75% 5/15/20301 | 8,675 | 8,949 | |
Frontier Communications Holdings, LLC 8.625% 3/15/20311 | 4,000 | 4,125 | |
Gray Television, Inc. 7.00% 5/15/20271 | 60,404 | 55,669 | |
Gray Television, Inc. 10.50% 7/15/20291 | 79,960 | 80,469 | |
Gray Television, Inc. 4.75% 10/15/20301 | 12,860 | 7,729 | |
Gray Television, Inc. 5.375% 11/15/20311 | 81,655 | 46,355 | |
Gray Television, Inc., Term Loan B, (1-month USD CME Term SOFR + 5.25%) 10.57% 5/23/20295,6 | 19,435 | 18,502 | |
Intelsat Jackson Holdings SA 6.50% 3/15/20301 | 52,632 | 49,099 | |
Lamar Media Corp. 3.625% 1/15/2031 | 10,350 | 9,126 | |
Level 3 Financing, Inc. 3.75% 7/15/20291 | 11,500 | 3,623 | |
Ligado Networks, LLC 15.50% PIK 11/1/20231,2,4 | 52,957 | 7,811 | |
Ligado Networks, LLC, Term Loan, 17.50% PIK 11/1/20232,3,4,5 | 5,112 | 4,857 | |
Live Nation Entertainment, Inc. 4.75% 10/15/20271 | 10,235 | 9,816 | |
Live Nation Entertainment, Inc. 3.75% 1/15/20281 | 5,605 | 5,220 | |
Merlin Entertainments Group U.S. Holdings, Inc. 7.375% 2/15/20311 | 6,990 | 7,127 | |
Midas OpCo Holdings, LLC 5.625% 8/15/20291 | 42,330 | 39,131 | |
Netflix, Inc. 4.875% 4/15/2028 | 6,190 | 6,160 | |
News Corp. 3.875% 5/15/20291 | 28,750 | 26,490 | |
Nexstar Media, Inc. 5.625% 7/15/20271 | 11,995 | 11,404 | |
Nexstar Media, Inc. 4.75% 11/1/20281 | 68,656 | 61,104 | |
OUTFRONT Media Capital, LLC 4.625% 3/15/20301 | 60 | 54 | |
Scripps Escrow II, Inc. 3.875% 1/15/20291 | 14,018 | 9,779 | |
Sirius XM Radio, Inc. 3.125% 9/1/20261 | 29,505 | 27,786 | |
Sirius XM Radio, Inc. 5.00% 8/1/20271 | 4,800 | 4,599 | |
Sirius XM Radio, Inc. 4.00% 7/15/20281 | 66,550 | 60,178 | |
Sirius XM Radio, Inc. 5.50% 7/1/20291 | 10,490 | 9,862 | |
Sirius XM Radio, Inc. 4.125% 7/1/20301 | 46,790 | 40,003 | |
Sirius XM Radio, Inc. 3.875% 9/1/20311 | 96,971 | 79,232 | |
Sprint Capital Corp. 6.875% 11/15/2028 | 6,365 | 6,752 | |
Sprint Capital Corp. 8.75% 3/15/2032 | 17,147 | 20,640 | |
Sprint, LLC 7.625% 3/1/2026 | 9,450 | 9,719 | |
TEGNA, Inc. 5.00% 9/15/2029 | 8,337 | 7,370 | |
T-Mobile USA, Inc. 3.375% 4/15/2029 | 15,950 | 14,742 |
American High-Income Trust — Page 5 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
Univision Communications, Inc. 6.625% 6/1/20271 | USD83,970 | $80,470 | |
Univision Communications, Inc. 8.00% 8/15/20281 | 55,765 | 54,434 | |
Univision Communications, Inc. 4.50% 5/1/20291 | 93,800 | 78,931 | |
Univision Communications, Inc. 7.375% 6/30/20301 | 48,128 | 44,806 | |
Univision Communications, Inc. 8.50% 7/31/20311 | 21,430 | 20,833 | |
Univision Communications, Inc., Term Loan, (3-month USD CME Term SOFR + 4.25%) 9.585% 6/24/20295,6 | 1,221 | 1,223 | |
Virgin Media Secured Finance PLC 4.50% 8/15/20301 | 5,275 | 4,478 | |
VMED O2 UK Financing I PLC 4.25% 1/31/20311 | 49,120 | 40,840 | |
VZ Secured Financing BV 5.00% 1/15/20321 | 11,580 | 9,887 | |
WMG Acquisition Corp. 3.75% 12/1/20291 | 29,563 | 26,830 | |
WMG Acquisition Corp. 3.875% 7/15/20301 | 12,507 | 11,177 | |
WMG Acquisition Corp. 3.00% 2/15/20311 | 4,050 | 3,496 | |
Ziggo Bond Co. BV 5.125% 2/28/20301 | 5,457 | 4,645 | |
Ziggo BV 4.875% 1/15/20301 | 19,750 | 17,590 | |
2,361,648 | |||
Consumer discretionary 9.88% | |||
Advance Auto Parts, Inc. 1.75% 10/1/2027 | 3,785 | 3,313 | |
Advance Auto Parts, Inc. 5.95% 3/9/2028 | 27,916 | 27,706 | |
Advance Auto Parts, Inc. 3.90% 4/15/2030 | 26,052 | 23,560 | |
Advance Auto Parts, Inc. 3.50% 3/15/2032 | 15,321 | 13,025 | |
Aimbridge Acquisition Co., Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.208% 2/2/20265,6 | 13,441 | 13,152 | |
Allied Universal Holdco, LLC 9.75% 7/15/20271 | 17,772 | 17,682 | |
Allied Universal Holdco, LLC 4.625% 6/1/20281 | 4,940 | 4,512 | |
Allied Universal Holdco, LLC 6.00% 6/1/20291 | 11,710 | 10,262 | |
Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/20291 | 43,482 | 44,954 | |
Asbury Automotive Group, Inc. 4.625% 11/15/20291 | 24,710 | 22,867 | |
Asbury Automotive Group, Inc. 5.00% 2/15/20321 | 18,915 | 17,149 | |
Bath & Body Works, Inc. 6.625% 10/1/20301 | 2,300 | 2,309 | |
Bath & Body Works, Inc. 6.875% 11/1/2035 | 36,233 | 36,579 | |
Bath & Body Works, Inc. 6.75% 7/1/2036 | 17,700 | 17,639 | |
Boyd Gaming Corp. 4.75% 12/1/2027 | 8,389 | 8,090 | |
Boyd Gaming Corp. 4.75% 6/15/20311 | 6,005 | 5,447 | |
Boyne USA, Inc. 4.75% 5/15/20291 | 12,285 | 11,471 | |
Caesars Entertainment, Inc. 8.125% 7/1/20271 | 11,525 | 11,767 | |
Caesars Entertainment, Inc. 4.625% 10/15/20291 | 77,765 | 71,349 | |
Caesars Entertainment, Inc. 7.00% 2/15/20301 | 40,342 | 41,242 | |
Caesars Entertainment, Inc. 6.50% 2/15/20321 | 27,125 | 27,276 | |
Carnival Corp. 7.625% 3/1/20261 | 450 | 455 | |
Carnival Corp. 5.75% 3/1/20271 | 23,600 | 23,330 | |
Carnival Corp. 4.00% 8/1/20281 | 42,590 | 40,024 | |
Carnival Corp. 6.00% 5/1/20291 | 57,387 | 56,724 | |
Carnival Corp. 7.00% 8/15/20291 | 6,690 | 6,939 | |
Carnival Corp. 10.50% 6/1/20301 | 31,023 | 33,723 | |
Clarios Global, LP 6.25% 5/15/20261 | 3,667 | 3,666 | |
Clarios Global, LP 8.50% 5/15/20271 | 6,825 | 6,876 | |
Cougar JV Subsidiary, LLC 8.00% 5/15/20321 | 33,855 | 35,036 | |
Dana, Inc. 4.50% 2/15/2032 | 4,400 | 3,782 | |
Fertitta Entertainment, LLC 4.625% 1/15/20291 | 25,210 | 22,977 | |
Fertitta Entertainment, LLC 6.75% 1/15/20301 | 43,288 | 38,048 | |
First Student Bidco, Inc. 4.00% 7/31/20291 | 24,840 | 22,404 |
American High-Income Trust — Page 6 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
First Student Bidco, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.00%) 8.596% 7/21/20285,6 | USD5,690 | $5,699 | |
First Student Bidco, Inc., Term Loan C, (3-month USD CME Term SOFR + 3.00%) 8.596% 7/21/20285,6 | 1,671 | 1,674 | |
Ford Motor Co. 3.25% 2/12/2032 | 4,490 | 3,713 | |
Ford Motor Co. 6.10% 8/19/2032 | 4,535 | 4,532 | |
Ford Motor Credit Co., LLC 3.664% 9/8/2024 | 1,438 | 1,431 | |
Ford Motor Credit Co., LLC 2.30% 2/10/2025 | 2,000 | 1,956 | |
Ford Motor Credit Co., LLC 5.125% 6/16/2025 | 2,000 | 1,986 | |
Ford Motor Credit Co., LLC 3.375% 11/13/2025 | 11,000 | 10,650 | |
Ford Motor Credit Co., LLC 6.95% 6/10/2026 | 18,050 | 18,404 | |
Ford Motor Credit Co., LLC 2.70% 8/10/2026 | 1,927 | 1,811 | |
Ford Motor Credit Co., LLC 4.271% 1/9/2027 | 7,000 | 6,747 | |
Ford Motor Credit Co., LLC 5.113% 5/3/2029 | 5,615 | 5,427 | |
Ford Motor Credit Co., LLC 7.20% 6/10/2030 | 2,125 | 2,236 | |
Ford Motor Credit Co., LLC 4.00% 11/13/2030 | 16,188 | 14,461 | |
Ford Motor Credit Co., LLC 7.122% 11/7/2033 | 24,999 | 26,431 | |
Ford Otomotiv Sanayi AS 7.125% 4/25/20291 | 6,350 | 6,418 | |
Gap, Inc. 3.625% 10/1/20291 | 3,225 | 2,795 | |
Gap, Inc. 3.875% 10/1/20311 | 2,148 | 1,795 | |
Garrett Motion Holdings, Inc. 7.75% 5/31/20321 | 2,500 | 2,536 | |
Hanesbrands, Inc. 4.875% 5/15/20261 | 17,698 | 17,327 | |
Hanesbrands, Inc. 9.00% 2/15/20311 | 41,117 | 43,116 | |
Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.094% 3/8/20305,6 | 23,359 | 23,457 | |
Hilton Domestic Operating Co., Inc. 4.875% 1/15/2030 | 8,287 | 7,959 | |
Hilton Domestic Operating Co., Inc. 4.00% 5/1/20311 | 20,465 | 18,338 | |
Hilton Grand Vacations Borrower, LLC 5.00% 6/1/20291 | 10,880 | 10,153 | |
International Game Technology PLC 6.50% 2/15/20251 | 4,385 | 4,390 | |
International Game Technology PLC 4.125% 4/15/20261 | 6,110 | 5,952 | |
International Game Technology PLC 5.25% 1/15/20291 | 34,522 | 33,425 | |
Jacobs Entertainment, Inc. 6.75% 2/15/20291 | 6,380 | 5,922 | |
KB Home 6.875% 6/15/2027 | 6,170 | 6,325 | |
KB Home 7.25% 7/15/2030 | 6,770 | 6,983 | |
Kontoor Brands, Inc. 4.125% 11/15/20291 | 6,770 | 6,136 | |
LCM Investments Holdings II, LLC 4.875% 5/1/20291 | 91,994 | 86,123 | |
LCM Investments Holdings II, LLC 8.25% 8/1/20311 | 44,045 | 46,000 | |
Levi Strauss & Co. 3.50% 3/1/20311 | 17,575 | 15,222 | |
LGI Homes, Inc. 8.75% 12/15/20281 | 9,550 | 9,953 | |
Light and Wonder International, Inc. 7.00% 5/15/20281 | 16,357 | 16,452 | |
Light and Wonder International, Inc. 7.25% 11/15/20291 | 19,650 | 20,084 | |
Light and Wonder International, Inc. 7.50% 9/1/20311 | 6,245 | 6,458 | |
Lindblad Expeditions, LLC 6.75% 2/15/20271 | 4,075 | 4,027 | |
Lithia Motors, Inc. 3.875% 6/1/20291 | 26,349 | 23,691 | |
Lithia Motors, Inc. 4.375% 1/15/20311 | 12,640 | 11,267 | |
M.D.C. Holdings, Inc. 6.00% 1/15/2043 | 16,252 | 17,114 | |
Macy’s Retail Holdings, LLC 6.125% 3/15/20321 | 1,230 | 1,176 | |
Marriott Ownership Resorts, Inc. 4.75% 1/15/2028 | 2,500 | 2,361 | |
Marriott Ownership Resorts, Inc. 4.50% 6/15/20291 | 14,430 | 13,271 | |
Melco Resorts Finance, Ltd. 5.75% 7/21/20281 | 8,910 | 8,355 | |
Merlin Entertainments PLC 5.75% 6/15/20261 | 10,798 | 10,650 | |
MGM Resorts International 5.50% 4/15/2027 | 5,707 | 5,635 | |
Motel 6 Operating, LP, Term Loan B, (3-month USD CME Term SOFR + 5.00%) 10.446% 9/9/20265,6 | 4,426 | 4,451 |
American High-Income Trust — Page 7 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
NCL Corp., Ltd. 5.875% 2/15/20271 | USD12,465 | $12,312 | |
NCL Corp., Ltd. 7.75% 2/15/20291 | 7,115 | 7,402 | |
Neiman Marcus Group, Ltd., LLC 7.125% 4/1/20261 | 35,980 | 35,578 | |
Newell Brands, Inc. 6.625% 9/15/2029 | 9,500 | 9,333 | |
Party City Holdings, Inc. 0% 10/12/20283 | 9,100 | — 8 | |
Party City Holdings, Inc. 0% 10/12/20283 | 5,000 | — 8 | |
Party City Holdings, Inc. 12.00% PIK 1/11/20291,4,9 | 47,420 | 45,800 | |
Penske Automotive Group, Inc. 3.75% 6/15/2029 | 6,325 | 5,716 | |
QVC, Inc. 4.45% 2/15/2025 | 12,390 | 12,202 | |
Rakuten Group, Inc. 9.75% 4/15/20291 | 8,225 | 8,490 | |
RHP Hotel Properties, LP 7.25% 7/15/20281 | 8,782 | 9,088 | |
RHP Hotel Properties, LP 4.50% 2/15/20291 | 15,140 | 14,211 | |
Royal Caribbean Cruises, Ltd. 4.25% 7/1/20261 | 4,000 | 3,874 | |
Royal Caribbean Cruises, Ltd. 5.375% 7/15/20271 | 9,480 | 9,341 | |
Royal Caribbean Cruises, Ltd. 5.50% 4/1/20281 | 8,325 | 8,224 | |
Royal Caribbean Cruises, Ltd. 8.25% 1/15/20291 | 13,250 | 13,999 | |
Royal Caribbean Cruises, Ltd. 9.25% 1/15/20291 | 1,000 | 1,068 | |
Royal Caribbean Cruises, Ltd. 7.25% 1/15/20301 | 11,562 | 11,979 | |
Royal Caribbean Cruises, Ltd. 6.25% 3/15/20321 | 37,765 | 38,106 | |
Sally Holdings, LLC 6.75% 3/1/2032 | 29,742 | 29,410 | |
Scientific Games Holdings, LP 6.625% 3/1/20301 | 16,870 | 16,456 | |
Scientific Games Holdings, LP, Term Loan, (3-month USD CME Term SOFR + 3.00%) 8.306% 4/4/20295,6 | 10,579 | 10,573 | |
Service Corp. International 4.00% 5/15/2031 | 6,450 | 5,752 | |
Sonic Automotive, Inc. 4.625% 11/15/20291 | 33,640 | 30,400 | |
Sonic Automotive, Inc. 4.875% 11/15/20311 | 59,789 | 52,687 | |
Station Casinos, LLC 6.625% 3/15/20321 | 7,080 | 7,050 | |
STL Holding Co., LLC 8.75% 2/15/20291 | 6,425 | 6,713 | |
Tempur Sealy International, Inc. 4.00% 4/15/20291 | 5,255 | 4,745 | |
Travel + Leisure Co. 4.50% 12/1/20291 | 9,460 | 8,722 | |
Universal Entertainment Corp. 8.75% 12/11/20241 | 107,986 | 116,330 | |
Vail Resorts, Inc. 6.50% 5/15/20321 | 15,745 | 15,943 | |
Valvoline, Inc. 3.625% 6/15/20311 | 13,085 | 11,290 | |
Velocity Vehicle Group, LLC 8.00% 6/1/20291 | 16,005 | 16,478 | |
Wand NewCo 3, Inc. 7.625% 1/30/20321 | 27,595 | 28,523 | |
Wand NewCo 3, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.094% 1/30/20315,6 | 8,940 | 9,008 | |
WASH Multifamily Acquisition, Inc. 5.75% 4/15/20261 | 23,650 | 23,142 | |
Wyndham Hotels & Resorts, Inc. 4.375% 8/15/20281 | 9,455 | 8,821 | |
Wynn Resorts Finance, LLC 5.125% 10/1/20291 | 9,225 | 8,779 | |
Wynn Resorts Finance, LLC 7.125% 2/15/20311 | 5,546 | 5,755 | |
ZF North America Capital, Inc. 7.125% 4/14/20301 | 4,500 | 4,664 | |
2,005,774 | |||
Health care 8.88% | |||
AdaptHealth, LLC 6.125% 8/1/20281 | 11,940 | 11,412 | |
AdaptHealth, LLC 4.625% 8/1/20291 | 23,230 | 20,154 | |
AdaptHealth, LLC 5.125% 3/1/20301 | 34,082 | 29,845 | |
AthenaHealth Group, Inc. 6.50% 2/15/20301 | 27,375 | 25,228 | |
Avantor Funding, Inc. 4.625% 7/15/20281 | 47,034 | 44,798 | |
Avantor Funding, Inc. 3.875% 11/1/20291 | 19,305 | 17,571 | |
Bausch + Lomb Corp., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 8.689% 5/10/20275,6 | 9,533 | 9,445 | |
Bausch Health Americas, Inc. 9.25% 4/1/20261 | 11,275 | 10,227 |
American High-Income Trust — Page 8 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) | |
Bausch Health Americas, Inc. 8.50% 1/31/20271 | USD17,697 | $12,327 | |
Bausch Health Companies, Inc. 5.50% 11/1/20251 | 99,615 | 92,887 | |
Bausch Health Companies, Inc. 9.00% 12/15/20251 | 21,166 | 19,198 | |
Bausch Health Companies, Inc. 6.125% 2/1/20271 | 4,370 | 3,643 | |
Bausch Health Companies, Inc. 5.75% 8/15/20271 | 18,503 | 14,763 | |
Bausch Health Companies, Inc. 5.00% 1/30/20281 | 18,310 | 9,632 | |
Bausch Health Companies, Inc. 4.875% 6/1/20281 | 72,180 | 54,102 | |
Bausch Health Companies, Inc. 5.00% 2/15/20291 | 95 | 46 | |
Bausch Health Companies, Inc. 7.25% 5/30/20291 | 8,112 | 4,234 | |
Bausch Health Companies, Inc. 5.25% 1/30/20301 | 33,642 | 15,803 | |
Bausch Health Companies, Inc. 5.25% 2/15/20311 | 78,564 | 36,836 | |
Bausch Health Companies, Inc., Term Loan, (3-month USD CME Term SOFR + 5.25%) 10.694% 2/1/20275,6 | 15,357 | 14,047 | |
Catalent Pharma Solutions, Inc. 5.00% 7/15/20271 | 17,733 | 17,401 | |
Catalent Pharma Solutions, Inc. 3.125% 2/15/20291 | 8,955 | 8,578 | |
Catalent Pharma Solutions, Inc. 3.50% 4/1/20301 | 24,432 | 23,418 | |
Catalent Pharma Solutions, Inc., Term Loan B4, (3-month USD CME Term SOFR + 3.00%) 8.344% 2/22/20285,6 | 18,248 | 18,282 | |
Centene Corp. 4.25% 12/15/2027 | 20,032 | 19,143 | |
Centene Corp. 4.625% 12/15/2029 | 28,063 | 26,563 | |
Centene Corp. 3.375% 2/15/2030 | 4,168 | 3,703 | |
Centene Corp. 3.00% 10/15/2030 | 7,575 | 6,483 | |
Centene Corp. 2.50% 3/1/2031 | 20,325 | 16,696 | |
Centene Corp. 2.625% 8/1/2031 | 12,700 | 10,442 | |
Charles River Laboratories International, Inc. 4.25% 5/1/20281 | 4,848 | 4,585 | |
Charles River Laboratories International, Inc. 3.75% 3/15/20291 | 12,765 | 11,664 | |
CHS / Community Health Systems, Inc. 5.625% 3/15/20271 | 40,065 | 37,345 | |
CHS / Community Health Systems, Inc. 5.25% 5/15/20301 | 36,485 | 30,115 | |
CHS / Community Health Systems, Inc. 4.75% 2/15/20311 | 21,500 | 16,924 | |
CHS / Community Health Systems, Inc. 10.875% 1/15/20321 | 4,035 | 4,205 | |
Concentra Escrow Issuer Corp. 6.875% 7/15/20321 | 9,230 | 9,363 | |
DaVita, Inc. 4.625% 6/1/20301 | 15,440 | 13,965 | |
Encompass Health Corp. 4.50% 2/1/2028 | 7,054 | 6,716 | |
Encompass Health Corp. 4.75% 2/1/2030 | 3,841 | 3,597 | |
Endo Finance Holdings, Inc. 8.50% 4/15/20311 | 61,680 | 63,729 | |
Endo International PLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 9.826% 4/23/20315,6 | 50,230 | 50,183 | |
Fortrea Holdings, Inc. 7.50% 7/1/20301 | 12,185 | 12,122 | |
Fortrea Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.094% 7/1/20305,6 | 3,574 | 3,577 | |
Grifols SA 4.75% 10/15/20281 | 48,000 | 41,469 | |
Grifols SA 7.50% 5/1/20303 | EUR29,530 | 31,625 | |
HCA, Inc. 4.50% 2/15/2027 | USD71 | 69 | |
HCA, Inc. 5.625% 9/1/2028 | 22,625 | 22,834 | |
HCA, Inc. 3.50% 9/1/2030 | 3,940 | 3,555 | |
HCA, Inc. 7.50% 11/15/2095 | 5,000 | 5,396 | |
Hologic, Inc. 3.25% 2/15/20291 | 8,800 | 7,902 | |
IQVIA, Inc. 5.00% 10/15/20261 | 18,749 | 18,412 | |
IQVIA, Inc. 6.50% 5/15/20301 | 6,025 | 6,121 | |
Jazz Securities DAC 4.375% 1/15/20291 | 12,660 | 11,764 | |
Mallinckrodt International Finance SA 14.75% 11/14/20281 | 4,901 | 5,332 | |
Medline Borrower, LP 3.875% 4/1/20291 | 5,000 | 4,608 | |
Medline Borrower, LP 6.25% 4/1/20291 | 24,543 | 24,851 | |
Medline Borrower, LP 5.25% 10/1/20291 | 25,275 | 24,140 |
American High-Income Trust — Page 9 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) | |
Medline Borrower, LP, Term Loan B, (3-month USD CME Term SOFR + 2.75%) 8.094% 10/23/20285,6 | USD10,152 | $10,188 | |
Molina Healthcare, Inc. 4.375% 6/15/20281 | 18,815 | 17,726 | |
Molina Healthcare, Inc. 3.875% 11/15/20301 | 43,950 | 39,104 | |
Molina Healthcare, Inc. 3.875% 5/15/20321 | 53,385 | 46,307 | |
Option Care Health, Inc. 4.375% 10/31/20291 | 6,115 | 5,618 | |
Owens & Minor, Inc. 4.50% 3/31/20291 | 33,951 | 29,310 | |
Owens & Minor, Inc. 6.625% 4/1/20301 | 47,978 | 43,666 | |
Radiology Partners, Inc. 3.50% PIK and 4.28% Cash 1/31/20291,4 | 53,259 | 49,997 | |
Radiology Partners, Inc. 9.78% PIK 2/15/20301,4 | 56,435 | 45,219 | |
Radiology Partners, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.00%) 1.50% PIK and 9.08% Cash 1/31/20294,5,6 | 40,054 | 38,101 | |
Select Medical Corp. 6.25% 8/15/20261 | 9,039 | 9,091 | |
Star Parent, Inc. 9.00% 10/1/20301 | 5,940 | 6,244 | |
Star Parent, Inc., Term Loan, (3-month USD CME Term SOFR + 3.75%) 9.085% 9/27/20305,6 | 7,575 | 7,579 | |
Sterigenics-Nordion Holdings, LLC 7.375% 6/1/20311 | 8,160 | 8,182 | |
Surgery Center Holdings, Inc. 7.25% 4/15/20321 | 9,395 | 9,502 | |
Surgery Center Holdings, Inc., Term Loan B2, (1-month USD CME Term SOFR + 2.75%) 8.092% 12/19/20305,6 | 7,622 | 7,651 | |
Team Health Holdings, Inc. 6.375% 2/1/20251 | 6,359 | 6,101 | |
Team Health Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 10.58% 3/2/20275,6 | 6,376 | 5,945 | |
Tenet Healthcare Corp. 6.25% 2/1/2027 | 8,995 | 8,997 | |
Tenet Healthcare Corp. 5.125% 11/1/2027 | 3,980 | 3,898 | |
Tenet Healthcare Corp. 4.625% 6/15/2028 | 9,650 | 9,186 | |
Tenet Healthcare Corp. 6.125% 10/1/2028 | 8,930 | 8,892 | |
Tenet Healthcare Corp. 4.25% 6/1/2029 | 33,304 | 31,042 | |
Tenet Healthcare Corp. 4.375% 1/15/2030 | 15,750 | 14,612 | |
Tenet Healthcare Corp. 6.75% 5/15/2031 | 42,095 | 42,762 | |
Tenet Healthcare Corp. 6.875% 11/15/2031 | 2,000 | 2,112 | |
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026 | 37,736 | 35,446 | |
Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027 | 13,890 | 13,403 | |
Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028 | 17,040 | 17,459 | |
Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029 | 108,886 | 104,838 | |
Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029 | 15,340 | 16,495 | |
Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031 | 16,687 | 18,574 | |
Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046 | 21,137 | 14,786 | |
1,801,108 | |||
Materials 8.78% | |||
Alcoa Nederland Holding BV 5.50% 12/15/20271 | 9,215 | 9,083 | |
Alliance Resource Operating Partners, LP 8.625% 6/15/20291 | 33,527 | 34,434 | |
ArcelorMittal SA 4.25% 7/16/2029 | 940 | 900 | |
ArcelorMittal SA 6.80% 11/29/2032 | 6,750 | 7,116 | |
ArcelorMittal SA 7.00% 10/15/2039 | 10,104 | 10,865 | |
ArcelorMittal SA 6.75% 3/1/2041 | 15,173 | 15,496 | |
ARD Finance SA 6.50% Cash 6/30/20271,4 | 8,809 | 2,242 | |
Ardagh Metal Packaging Finance PLC 4.00% 9/1/20291 | 26,996 | 22,876 | |
ATI, Inc. 4.875% 10/1/2029 | 13,720 | 12,843 | |
ATI, Inc. 7.25% 8/15/2030 | 9,430 | 9,747 | |
ATI, Inc. 5.125% 10/1/2031 | 22,140 | 20,490 | |
Avient Corp. 7.125% 8/1/20301 | 6,750 | 6,887 |
American High-Income Trust — Page 10 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) | |
Axalta Coating Systems Dutch Holding B BV 7.25% 2/15/20311 | USD5,995 | $6,233 | |
Axalta Coating Systems, LLC 4.75% 6/15/20271 | 6,495 | 6,321 | |
Ball Corp. 6.875% 3/15/2028 | 11,915 | 12,241 | |
Ball Corp. 6.00% 6/15/2029 | 7,100 | 7,147 | |
Ball Corp. 2.875% 8/15/2030 | 3,250 | 2,764 | |
Ball Corp. 3.125% 9/15/2031 | 26,280 | 22,252 | |
Braskem Idesa SAPI 6.99% 2/20/20321 | 1,370 | 1,040 | |
CAN-PACK Spolka Akcyjna 3.875% 11/15/20291 | 24,195 | 21,722 | |
Cleveland-Cliffs, Inc. 7.00% 3/15/2027 | 3,853 | 3,844 | |
Cleveland-Cliffs, Inc. 5.875% 6/1/2027 | 39,430 | 39,189 | |
Cleveland-Cliffs, Inc. 4.625% 3/1/20291 | 42,343 | 40,128 | |
Cleveland-Cliffs, Inc. 6.75% 4/15/20301 | 13,575 | 13,448 | |
Cleveland-Cliffs, Inc. 4.875% 3/1/20311 | 47,119 | 41,770 | |
Cleveland-Cliffs, Inc. 7.00% 3/15/20321 | 9,858 | 9,759 | |
Consolidated Energy Finance SA 6.50% 5/15/20261 | 4,513 | 4,370 | |
Consolidated Energy Finance SA 5.625% 10/15/20281 | 15,875 | 13,511 | |
Consolidated Energy Finance SA 12.00% 2/15/20311 | 71,450 | 73,784 | |
Crown Cork & Seal Co., Inc. 7.375% 12/15/2026 | 2,000 | 2,069 | |
CVR Partners, LP 6.125% 6/15/20281 | 15,385 | 14,795 | |
Element Solutions, Inc. 3.875% 9/1/20281 | 13,920 | 12,805 | |
First Quantum Minerals, Ltd. 6.875% 10/15/20271 | 162,689 | 159,119 | |
First Quantum Minerals, Ltd. 9.375% 3/1/20291 | 123,500 | 129,196 | |
Freeport-McMoRan, Inc. 4.25% 3/1/2030 | 303 | 287 | |
Freeport-McMoRan, Inc. 5.40% 11/14/2034 | 4,288 | 4,221 | |
Freeport-McMoRan, Inc. 5.45% 3/15/2043 | 7,843 | 7,455 | |
FXI Holdings, Inc. 12.25% 11/15/20261 | 183,755 | 182,542 | |
FXI Holdings, Inc. 12.25% 11/15/20261 | 127,259 | 126,657 | |
INEOS Finance PLC 6.75% 5/15/20281 | 10,200 | 10,232 | |
INEOS Finance PLC 7.50% 4/15/20291 | 6,210 | 6,282 | |
Kaiser Aluminum Corp. 4.625% 3/1/20281 | 12,698 | 11,896 | |
LABL, Inc. 6.75% 7/15/20261 | 560 | 553 | |
LABL, Inc. 10.50% 7/15/20271 | 6,745 | 6,608 | |
LABL, Inc. 5.875% 11/1/20281 | 14,600 | 13,340 | |
LABL, Inc. 9.50% 11/1/20281 | 6,277 | 6,334 | |
LSB Industries, Inc. 6.25% 10/15/20281 | 14,290 | 13,798 | |
LSF11 A5 HoldCo, LLC 6.625% 10/15/20291 | 1,100 | 1,042 | |
Mauser Packaging Solutions Holding Co. 7.875% 8/15/20261 | 13,505 | 13,537 | |
Mauser Packaging Solutions Holding Co. 9.25% 4/15/20271 | 18,500 | 18,535 | |
Methanex Corp. 5.125% 10/15/2027 | 52,210 | 50,396 | |
Methanex Corp. 5.25% 12/15/2029 | 8,893 | 8,586 | |
Methanex Corp. 5.65% 12/1/2044 | 9,445 | 8,174 | |
Mineral Resources, Ltd. 8.125% 5/1/20271 | 8,473 | 8,547 | |
Mineral Resources, Ltd. 8.00% 11/1/20271 | 33,367 | 34,174 | |
Mineral Resources, Ltd. 9.25% 10/1/20281 | 42,877 | 45,054 | |
Mineral Resources, Ltd. 8.50% 5/1/20301 | 13,529 | 14,021 | |
NOVA Chemicals Corp. 5.25% 6/1/20271 | 36,882 | 35,321 | |
NOVA Chemicals Corp. 8.50% 11/15/20281 | 5,030 | 5,344 | |
NOVA Chemicals Corp. 4.25% 5/15/20291 | 35,492 | 31,326 | |
NOVA Chemicals Corp. 9.00% 2/15/20301 | 46,725 | 49,356 | |
Novelis Corp. 3.25% 11/15/20261 | 13,285 | 12,514 | |
Novelis Corp. 4.75% 1/30/20301 | 9,228 | 8,570 | |
Novelis Corp. 3.875% 8/15/20311 | 19,344 | 16,766 | |
Olin Corp. 5.625% 8/1/2029 | 5,700 | 5,596 | |
Olin Corp. 5.00% 2/1/2030 | 3,365 | 3,183 |
American High-Income Trust — Page 11 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) | |
Olympus Water US Holding Corp. 9.75% 11/15/20281 | USD8,600 | $9,109 | |
Owens-Brockway Glass Container, Inc. 7.375% 6/1/20321 | 11,455 | 11,483 | |
SCIH Salt Holdings, Inc. 4.875% 5/1/20281 | 41,413 | 38,570 | |
SCIH Salt Holdings, Inc. 6.625% 5/1/20291 | 23,000 | 21,660 | |
Sealed Air Corp. 4.00% 12/1/20271 | 7,559 | 7,115 | |
Sealed Air Corp. 6.125% 2/1/20281 | 14,160 | 14,140 | |
Summit Materials, LLC 6.50% 3/15/20271 | 5,478 | 5,494 | |
Summit Materials, LLC 5.25% 1/15/20291 | 15,015 | 14,491 | |
Summit Materials, LLC 7.25% 1/15/20311 | 8,372 | 8,679 | |
Trident TPI Holdings, Inc. 12.75% 12/31/20281 | 9,500 | 10,388 | |
Trivium Packaging Finance BV 5.50% 8/15/20261 | 3,667 | 3,597 | |
Trivium Packaging Finance BV 8.50% 8/15/20271 | 24,269 | 24,113 | |
Tronox, Inc. 4.625% 3/15/20291 | 14,155 | 12,793 | |
Vale Overseas, Ltd. 6.40% 6/28/2054 | 8,425 | 8,338 | |
Venator Material, LLC, Term Loan, (3-month USD CME Term SOFR + 2.00%) 8.00% PIK and 7.31% Cash 1/16/20264,5,6 | 8,199 | 8,281 | |
Venator Material, LLC, Term Loan, (USD-SOFR + 10.00%) 8.00% PIK and 7.33% Cash 10/10/20284,5,6 | 17,229 | 17,164 | |
Warrior Met Coal, Inc. 7.875% 12/1/20281 | 14,275 | 14,593 | |
1,780,741 | |||
Financials 7.70% | |||
AG Issuer, LLC 6.25% 3/1/20281 | 33,361 | 32,664 | |
AG TTMT Escrow Issuer, LLC 8.625% 9/30/20271 | 21,979 | 22,810 | |
Alliant Holdings Intermediate, LLC 4.25% 10/15/20271 | 10,420 | 9,768 | |
Alliant Holdings Intermediate, LLC 6.75% 10/15/20271 | 34,600 | 34,159 | |
Alliant Holdings Intermediate, LLC 6.75% 4/15/20281 | 7,130 | 7,148 | |
Alliant Holdings Intermediate, LLC 5.875% 11/1/20291 | 32,255 | 30,213 | |
Alliant Holdings Intermediate, LLC 7.00% 1/15/20311 | 14,420 | 14,579 | |
AmWINS Group, Inc. 6.375% 2/15/20291 | 16,835 | 16,891 | |
AmWINS Group, Inc. 4.875% 6/30/20291 | 22,742 | 21,188 | |
Aretec Group, Inc. 7.50% 4/1/20291 | 67,522 | 65,147 | |
Aretec Group, Inc. 10.00% 8/15/20301 | 27,190 | 29,606 | |
AssuredPartners, Inc. 5.625% 1/15/20291 | 4,895 | 4,583 | |
Baldwin Insurance Group Holdings, LLC 7.125% 5/15/20311 | 4,045 | 4,095 | |
Block, Inc. 2.75% 6/1/2026 | 32,650 | 30,868 | |
Block, Inc. 3.50% 6/1/2031 | 33,575 | 28,989 | |
Block, Inc. 6.50% 5/15/20321 | 36,440 | 36,973 | |
Blue Owl Capital Corp. 4.00% 3/30/2025 | 449 | 442 | |
Blue Owl Capital Corp. 3.40% 7/15/2026 | 5,685 | 5,358 | |
Blue Owl Capital Corp. 2.625% 1/15/2027 | 400 | 366 | |
Blue Owl Capital Corp. 2.875% 6/11/2028 | 1,750 | 1,549 | |
Blue Owl Capital Corp. III 3.125% 4/13/2027 | 11,350 | 10,387 | |
Blue Owl Credit Income Corp. 4.70% 2/8/2027 | 20,625 | 19,632 | |
Blue Owl Credit Income Corp. 6.65% 3/15/2031 | 8,315 | 8,131 | |
Boost Newco Borrower, LLC 7.50% 1/15/20311 | 29,070 | 30,332 | |
BroadStreet Partners, Inc. 5.875% 4/15/20291 | 9,950 | 9,293 | |
Castlelake Aviation Finance DAC 5.00% 4/15/20271 | 17,105 | 16,562 | |
Coinbase Global, Inc. 3.375% 10/1/20281 | 63,486 | 54,493 | |
Coinbase Global, Inc. 3.625% 10/1/20311 | 51,036 | 40,966 | |
Compass Group Diversified Holdings, LLC 5.25% 4/15/20291 | 99,470 | 94,436 | |
Compass Group Diversified Holdings, LLC 5.00% 1/15/20321 | 21,655 | 19,615 | |
GTCR (AP) Finance, Inc. 8.00% 5/15/20271 | 12,089 | 12,126 | |
Hightower Holding, LLC 6.75% 4/15/20291 | 26,340 | 24,669 |
American High-Income Trust — Page 12 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
Howden UK Refinance PLC 7.25% 2/15/20311 | USD23,035 | $22,881 | |
Howden UK Refinance 2 PLC 8.125% 2/15/20321 | 21,375 | 21,254 | |
HUB International, Ltd. 5.625% 12/1/20291 | 3,745 | 3,545 | |
HUB International, Ltd. 7.25% 6/15/20301 | 20,332 | 20,858 | |
HUB International, Ltd. 7.375% 1/31/20321 | 13,805 | 14,008 | |
HUB International, Ltd., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 8.575% 6/20/20305,6 | 2,325 | 2,333 | |
Intercontinental Exchange, Inc. 3.625% 9/1/20281 | 8,470 | 7,992 | |
Iron Mountain Information Management Services, Inc. 5.00% 7/15/20321 | 31,600 | 28,891 | |
JPMorgan Chase & Co. 2.956% 5/13/2031 (USD-SOFR + 2.515% on 5/13/2030)7 | 3,100 | 2,718 | |
LPL Holdings, Inc. 4.625% 11/15/20271 | 8,085 | 7,826 | |
LPL Holdings, Inc. 4.00% 3/15/20291 | 6,610 | 6,165 | |
LPL Holdings, Inc. 4.375% 5/15/20311 | 12,700 | 11,660 | |
MSCI, Inc. 4.00% 11/15/20291 | 316 | 296 | |
MSCI, Inc. 3.625% 9/1/20301 | 742 | 667 | |
MSCI, Inc. 3.875% 2/15/20311 | 13,300 | 11,990 | |
MSCI, Inc. 3.625% 11/1/20311 | 7,125 | 6,259 | |
MSCI, Inc. 3.25% 8/15/20331 | 6,000 | 4,963 | |
Nationstar Mortgage Holdings, Inc. 7.125% 2/1/20321 | 8,315 | 8,373 | |
Navient Corp. 5.875% 10/25/2024 | 25,680 | 25,660 | |
Navient Corp. 6.75% 6/25/2025 | 13,000 | 13,005 | |
Navient Corp. 6.75% 6/15/2026 | 12,310 | 12,395 | |
Navient Corp. 5.00% 3/15/2027 | 50,842 | 48,586 | |
Navient Corp. 4.875% 3/15/2028 | 10,570 | 9,712 | |
Navient Corp. 5.50% 3/15/2029 | 62,001 | 56,666 | |
Navient Corp. 9.375% 7/25/2030 | 13,239 | 13,934 | |
Navient Corp. 11.50% 3/15/2031 | 58,335 | 64,315 | |
Navient Corp. 5.625% 8/1/2033 | 27,712 | 22,146 | |
OneMain Finance Corp. 7.125% 3/15/2026 | 24,220 | 24,630 | |
OneMain Finance Corp. 5.375% 11/15/2029 | 2,515 | 2,361 | |
OneMain Finance Corp. 7.875% 3/15/2030 | 20,010 | 20,647 | |
Osaic Financial Services, Inc. 6.50% 11/30/2027 | 80 | 1,553 | |
Osaic Holdings, Inc. 10.75% 8/1/20271 | 86,049 | 88,664 | |
Osaic Holdings, Inc., Term Loan B3, (3-month USD CME Term SOFR + 4.00%) 9.344% 8/17/20285,6 | 7,501 | 7,533 | |
Owl Rock Capital Corp. 3.75% 7/22/2025 | 12,093 | 11,793 | |
Oxford Finance, LLC 6.375% 2/1/20271 | 36,100 | 34,802 | |
Panther Escrow Issuer, LLC 7.125% 6/1/20311 | 16,400 | 16,600 | |
Rocket Mortgage, LLC 2.875% 10/15/20261 | 9,410 | 8,796 | |
Rocket Mortgage, LLC 3.625% 3/1/20291 | 6,605 | 5,997 | |
Ryan Specialty Group, LLC 4.375% 2/1/20301 | 14,350 | 13,308 | |
Starwood Property Trust, Inc. 4.375% 1/15/20271 | 18,170 | 17,222 | |
Starwood Property Trust, Inc. 7.25% 4/1/20291 | 3,255 | 3,294 | |
Truist Insurance Holdings, LLC, Term Loan, (1-month USD CME Term SOFR + 4.75%) 10.073% 3/8/20325,6 | 109,160 | 111,571 | |
USI, Inc. 7.50% 1/15/20321 | 6,945 | 7,062 | |
1,562,969 | |||
Information technology 6.92% | |||
Booz Allen Hamilton, Inc. 3.875% 9/1/20281 | 952 | 897 | |
Booz Allen Hamilton, Inc. 4.00% 7/1/20291 | 5,633 | 5,280 | |
Boxer Parent Co., Inc. 7.125% 10/2/20251 | 3,545 | 3,557 | |
Boxer Parent Co., Inc. 9.125% 3/1/20261 | 4,290 | 4,307 | |
Cloud Software Group, Inc. 6.50% 3/31/20291 | 30,080 | 28,909 |
American High-Income Trust — Page 13 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology (continued) | Principal amount (000) | Value (000) | |
Cloud Software Group, Inc. 9.00% 9/30/20291 | USD111,647 | $108,409 | |
Cloud Software Group, Inc. 8.25% 6/30/20321 | 31,125 | 31,743 | |
Cloud Software Group, Inc., Term Loan, (3-month USD CME Term SOFR + 4.00%) 9.335% 3/30/20295,6 | 48,513 | 48,533 | |
CommScope Technologies, LLC 6.00% 6/15/20251 | 81,265 | 66,311 | |
CommScope Technologies, LLC 5.00% 3/15/20271 | 32,500 | 13,503 | |
CommScope, Inc. 6.00% 3/1/20261 | 62,173 | 54,638 | |
CommScope, Inc. 8.25% 3/1/20271 | 14,919 | 7,095 | |
CommScope, Inc. 7.125% 7/1/20281 | 4,883 | 2,029 | |
CommScope, Inc. 4.75% 9/1/20291 | 10,603 | 7,367 | |
CommScope, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 8.708% 4/6/20265,6 | 47,553 | 42,946 | |
Diebold Nixdorf, Inc., Term Loan, (3-month USD CME Term SOFR + 7.50%) 12.826% 8/11/20281,5,6,9 | 201,536 | 208,810 | |
Entegris, Inc. 4.75% 4/15/20291 | 7,610 | 7,287 | |
Fair Isaac Corp. 4.00% 6/15/20281 | 16,225 | 15,191 | |
Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 12.459% 9/13/20295,6,10 | 74,799 | 75,173 | |
Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 12.581% 9/13/20295,6,10 | 823 | 827 | |
Fortress Intermediate 3, Inc. 7.50% 6/1/20311 | 9,875 | 10,130 | |
Gartner, Inc. 4.50% 7/1/20281 | 21,727 | 20,959 | |
Gartner, Inc. 3.625% 6/15/20291 | 3,657 | 3,352 | |
Gartner, Inc. 3.75% 10/1/20301 | 13,511 | 12,129 | |
Go Daddy Operating Co., LLC 3.50% 3/1/20291 | 7,075 | 6,395 | |
Helios Software Holdings, Inc. 8.75% 5/1/20291 | 65,975 | 67,242 | |
Hughes Satellite Systems Corp. 5.25% 8/1/2026 | 72,548 | 56,230 | |
Hughes Satellite Systems Corp. 6.625% 8/1/2026 | 51,153 | 23,835 | |
Imola Merger Corp. 4.75% 5/15/20291 | 5,000 | 4,678 | |
ION Trading Technologies SARL 9.50% 5/30/20291 | 40,611 | 41,400 | |
McAfee Corp. 7.375% 2/15/20301 | 20,450 | 18,907 | |
MicroStrategy, Inc. 6.125% 6/15/20281 | 16,025 | 15,548 | |
NCR Atleos Corp. 9.50% 4/1/20291 | 54,630 | 59,091 | |
NCR Voyix Corp. 5.125% 4/15/20291 | 23,505 | 22,157 | |
Open Text Corp. 3.875% 2/15/20281 | 14,045 | 13,014 | |
Open Text Corp. 3.875% 12/1/20291 | 12,925 | 11,598 | |
Open Text Holdings, Inc. 4.125% 12/1/20311 | 4,800 | 4,229 | |
Rocket Software, Inc. 6.50% 2/15/20291 | 6,245 | 5,451 | |
Synaptics, Inc. 4.00% 6/15/20291 | 5,225 | 4,741 | |
UKG, Inc. 6.875% 2/1/20311 | 46,200 | 46,812 | |
UKG, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.25%) 8.576% 2/10/20315,6 | 17,260 | 17,345 | |
Unisys Corp. 6.875% 11/1/20271 | 19,140 | 16,820 | |
Viasat, Inc. 5.625% 9/15/20251 | 44,725 | 43,429 | |
Viasat, Inc. 5.625% 4/15/20271 | 13,150 | 11,781 | |
Viasat, Inc. 6.50% 7/15/20281 | 19,500 | 14,782 | |
Viasat, Inc. 7.50% 5/30/20311 | 47,920 | 31,893 | |
Viavi Solutions, Inc. 3.75% 10/1/20291 | 3,750 | 3,172 | |
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)3,7,10 | 60,835 | 59,205 | |
Xerox Holdings Corp. 5.50% 8/15/20281 | 10,500 | 9,054 | |
Xerox Holdings Corp. 8.875% 11/30/20291 | 9,700 | 9,260 |
American High-Income Trust — Page 14 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology (continued) | Principal amount (000) | Value (000) | |
Zebra Technologies Corp. 6.50% 6/1/20321 | USD6,670 | $6,750 | |
Ziff Davis, Inc. 4.625% 10/15/20301 | 339 | 307 | |
1,404,508 | |||
Industrials 6.41% | |||
AAdvantage Loyalty IP, Ltd. 5.50% 4/20/20261 | 3,507 | 3,479 | |
AAR Escrow Issuer, LLC 6.75% 3/15/20291 | 5,701 | 5,817 | |
ADT Security Corp. 4.125% 8/1/20291 | 4,815 | 4,444 | |
Allison Transmission, Inc. 3.75% 1/30/20311 | 22,880 | 20,081 | |
Alta Equipment Group, Inc. 9.00% 6/1/20291 | 6,650 | 6,177 | |
Ambipar Lux SARL 9.875% 2/6/20311 | 8,323 | 8,077 | |
American Airlines, Inc. 8.50% 5/15/20291 | 8,960 | 9,315 | |
Aramark Services, Inc. 5.00% 4/1/20251 | 2,980 | 2,962 | |
Atkore, Inc. 4.25% 6/1/20311 | 17,900 | 15,778 | |
Avis Budget Car Rental, LLC 5.75% 7/15/20271 | 18,910 | 18,183 | |
Avis Budget Car Rental, LLC 4.75% 4/1/20281 | 2,190 | 2,012 | |
Avis Budget Car Rental, LLC 5.375% 3/1/20291 | 26,181 | 23,983 | |
Avis Budget Car Rental, LLC 8.00% 2/15/20311 | 25,765 | 25,541 | |
Avolon Holdings Funding, Ltd. 2.528% 11/18/20271 | 36,710 | 33,036 | |
Boeing Co. 6.528% 5/1/20341 | 12,279 | 12,579 | |
Boeing Co. 6.858% 5/1/20541 | 3,843 | 3,947 | |
Bombardier, Inc. 7.125% 6/15/20261 | 8,847 | 8,983 | |
Bombardier, Inc. 7.875% 4/15/20271 | 8,633 | 8,660 | |
Bombardier, Inc. 6.00% 2/15/20281 | 8,883 | 8,791 | |
Bombardier, Inc. 8.75% 11/15/20301 | 5,140 | 5,562 | |
Bombardier, Inc. 7.45% 5/1/20341 | 1,850 | 2,083 | |
Brand Industrial Services, Inc. 10.375% 8/1/20301 | 9,050 | 9,792 | |
Brand Industrial Services, Inc., Term Loan C, (3-month USD CME Term SOFR + 4.50%) 9.827% 8/1/20305,6 | 4,789 | 4,809 | |
Brink’s Co. (The) 4.625% 10/15/20271 | 10,371 | 9,956 | |
Brink’s Co. (The) 6.50% 6/15/20291 | 3,870 | 3,914 | |
BWX Technologies, Inc. 4.125% 6/30/20281 | 8,235 | 7,697 | |
BWX Technologies, Inc. 4.125% 4/15/20291 | 3,470 | 3,207 | |
Champions Financing, Inc. 8.75% 2/15/20291 | 15,500 | 15,907 | |
Chart Industries, Inc. 7.50% 1/1/20301 | 10,389 | 10,749 | |
Clarivate Science Holdings Corp. 3.875% 7/1/20281 | 17,370 | 16,156 | |
Clarivate Science Holdings Corp. 4.875% 7/1/20291 | 15,510 | 14,409 | |
Clean Harbors, Inc. 4.875% 7/15/20271 | 12,014 | 11,644 | |
Clean Harbors, Inc. 6.375% 2/1/20311 | 6,822 | 6,846 | |
CoreLogic, Inc. 4.50% 5/1/20281 | 61,272 | 55,668 | |
CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 3.50%) 8.958% 6/2/20285,6 | 3,000 | 2,953 | |
CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 11.958% 6/4/20295,6 | 22,275 | 21,857 | |
Dun & Bradstreet Corp. (The) 5.00% 12/15/20291 | 18,592 | 17,282 | |
Enviri Corp. 5.75% 7/31/20271 | 8,655 | 8,235 | |
EquipmentShare.com, Inc. 9.00% 5/15/20281 | 41,260 | 42,631 | |
EquipmentShare.com, Inc. 8.625% 5/15/20321 | 12,740 | 13,226 | |
ESAB Corp. 6.25% 4/15/20291 | 6,700 | 6,749 | |
GFL Environmental, Inc. 4.00% 8/1/20281 | 9,530 | 8,865 | |
Herc Holdings, Inc. 5.50% 7/15/20271 | 3,200 | 3,152 | |
Herc Holdings, Inc. 6.625% 6/15/20291 | 5,290 | 5,368 | |
Hertz Corp. (The) 4.625% 12/1/20261 | 5,000 | 3,633 |
American High-Income Trust — Page 15 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
Hertz Corp. (The), Term Loan B-EXIT, (3-month USD CME Term SOFR + 3.25%) 8.859% 6/30/20285,6 | USD4,190 | $3,800 | |
Hertz Corp. (The), Term Loan C-EXIT, (3-month USD CME Term SOFR + 3.25%) 8.859% 6/30/20285,6 | 810 | 731 | |
Howmet Aerospace, Inc. 6.875% 5/1/2025 | 1,510 | 1,523 | |
Howmet Aerospace, Inc. 5.95% 2/1/2037 | 3,000 | 3,090 | |
Husky Injection Molding Systems, Ltd. 9.00% 2/15/20291 | 16,610 | 17,221 | |
Husky Injection Molding Systems, Ltd., Term Loan B, (3-month USD CME Term SOFR + 5.00%) 10.326% 2/15/20295,6 | 7,925 | 7,955 | |
Icahn Enterprises, LP 6.25% 5/15/2026 | 23,674 | 23,507 | |
Icahn Enterprises, LP 5.25% 5/15/2027 | 27,163 | 25,520 | |
Icahn Enterprises, LP 9.75% 1/15/20291 | 16,070 | 16,669 | |
Icahn Enterprises, LP 4.375% 2/1/2029 | 13,415 | 11,484 | |
Maxim Crane Works Holdings Capital, LLC 11.50% 9/1/20281 | 7,760 | 8,011 | |
Mileage Plus Holdings, LLC 6.50% 6/20/20271 | 33,312 | 33,405 | |
Miter Brands Acquisition Holdco, Inc. 6.75% 4/1/20321 | 6,789 | 6,841 | |
Moog, Inc. 4.25% 12/9/20271 | 8,465 | 8,031 | |
Mueller Water Products, Inc. 4.00% 6/15/20291 | 5,115 | 4,688 | |
NESCO Holdings II, Inc. 5.50% 4/15/20291 | 7,170 | 6,649 | |
Owens Corning 3.50% 2/15/20301 | 11,831 | 10,785 | |
Pitney Bowes, Inc. 6.875% 3/15/20271 | 11,500 | 10,873 | |
PM General Purchaser, LLC 9.50% 10/1/20281 | 29,308 | 29,972 | |
Prime Security Services Borrower, LLC 3.375% 8/31/20271 | 8,100 | 7,501 | |
Prime Security Services Borrower, LLC 6.25% 1/15/20281 | 11,833 | 11,672 | |
Reworld Holding Corp. 4.875% 12/1/20291 | 17,163 | 15,683 | |
Reworld Holding Corp. 5.00% 9/1/2030 | 28,240 | 25,585 | |
Ritchie Bros. Holdings, Inc. 6.75% 3/15/20281 | 1,304 | 1,329 | |
Ritchie Bros. Holdings, Inc. 7.75% 3/15/20311 | 9,038 | 9,450 | |
Roller Bearing Company of America, Inc. 4.375% 10/15/20291 | 2,005 | 1,848 | |
Sabre GLBL, Inc. 8.625% 6/1/20271 | 108 | 100 | |
Seagate HDD Cayman 8.25% 12/15/2029 | 4,000 | 4,293 | |
Seagate HDD Cayman 8.50% 7/15/2031 | 9,645 | 10,396 | |
Sensata Technologies BV 4.00% 4/15/20291 | 3,225 | 2,964 | |
Sensata Technologies, Inc. 3.75% 2/15/20311 | 15,230 | 13,286 | |
SkyMiles IP, Ltd. 4.75% 10/20/20281 | 9,000 | 8,769 | |
Spirit AeroSystems, Inc. 4.60% 6/15/2028 | 28,313 | 26,546 | |
Spirit AeroSystems, Inc. 9.375% 11/30/20291 | 35,400 | 38,157 | |
Spirit AeroSystems, Inc. 9.75% 11/15/20301 | 66,546 | 73,491 | |
Spirit AeroSystems, Inc., Term Loan, (3-month CME Term SOFR + 4.25%) 9.58% 1/15/20275,6 | 14,758 | 14,876 | |
Stericycle, Inc. 3.875% 1/15/20291 | 1,370 | 1,280 | |
Titan International, Inc. 7.00% 4/30/2028 | 11,500 | 11,070 | |
TK Elevator U.S. Newco, Inc. 5.25% 7/15/20271 | 23,150 | 22,467 | |
TransDigm, Inc. 5.50% 11/15/2027 | 19,810 | 19,470 | |
TransDigm, Inc. 6.75% 8/15/20281 | 7,070 | 7,165 | |
TransDigm, Inc. 4.625% 1/15/2029 | 2,971 | 2,775 | |
TransDigm, Inc. 6.375% 3/1/20291 | 29,000 | 29,182 | |
TransDigm, Inc. 4.875% 5/1/2029 | 8,715 | 8,172 | |
TransDigm, Inc. 6.875% 12/15/20301 | 7,315 | 7,474 | |
TransDigm, Inc. 6.625% 3/1/20321 | 26,750 | 27,052 | |
Triumph Group, Inc. 9.00% 3/15/20281 | 19,041 | 19,983 | |
Uber Technologies, Inc. 8.00% 11/1/20261 | 10,000 | 10,098 | |
United Rentals (North America), Inc. 5.25% 1/15/2030 | 5,484 | 5,319 | |
United Rentals (North America), Inc. 3.875% 2/15/2031 | 13,525 | 12,079 |
American High-Income Trust — Page 16 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
United Rentals (North America), Inc. 3.75% 1/15/2032 | USD9,535 | $8,305 | |
United Rentals (North America), Inc. 6.125% 3/15/20341 | 6,840 | 6,824 | |
WESCO Distribution, Inc. 7.25% 6/15/20281 | 10,900 | 11,107 | |
WESCO Distribution, Inc. 6.625% 3/15/20321 | 35,115 | 35,528 | |
Wrangler Holdco Corp. 6.625% 4/1/20321 | 7,230 | 7,204 | |
XPO, Inc. 7.125% 6/1/20311 | 10,832 | 11,077 | |
XPO, Inc. 7.125% 2/1/20321 | 5,665 | 5,811 | |
1,300,338 | |||
Real estate 5.66% | |||
Anywhere Real Estate Group, LLC 5.75% 1/15/20291 | 45,285 | 27,917 | |
Anywhere Real Estate Group, LLC 5.25% 4/15/20301 | 41,935 | 25,074 | |
Anywhere Real Estate Group, LLC 7.00% 4/15/20301 | 10,175 | 8,329 | |
Brookfield Property REIT, Inc. 5.75% 5/15/20261 | 29,805 | 29,218 | |
Brookfield Property REIT, Inc. 4.50% 4/1/20271 | 11,785 | 10,979 | |
Cushman & Wakefield U.S. Borrower, LLC, Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.094% 1/31/20305,6 | 6,279 | 6,326 | |
Forestar Group, Inc. 3.85% 5/15/20261 | 10,830 | 10,387 | |
Forestar Group, Inc. 5.00% 3/1/20281 | 1,905 | 1,829 | |
Greystar Real Estate Partners, LLC 7.75% 9/1/20301 | 5,175 | 5,454 | |
HAT Holdings I, LLC 8.00% 6/15/20271 | 6,125 | 6,375 | |
Howard Hughes Corp. (The) 5.375% 8/1/20281 | 27,522 | 26,184 | |
Howard Hughes Corp. (The) 4.125% 2/1/20291 | 41,748 | 37,379 | |
Howard Hughes Corp. (The) 4.375% 2/1/20311 | 74,842 | 64,513 | |
Iron Mountain, Inc. 4.875% 9/15/20271 | 15,835 | 15,367 | |
Iron Mountain, Inc. 5.25% 3/15/20281 | 24,088 | 23,328 | |
Iron Mountain, Inc. 5.00% 7/15/20281 | 9,252 | 8,870 | |
Iron Mountain, Inc. 7.00% 2/15/20291 | 4,250 | 4,329 | |
Iron Mountain, Inc. 5.25% 7/15/20301 | 64,225 | 61,094 | |
Iron Mountain, Inc. 4.50% 2/15/20311 | 37,685 | 34,049 | |
Kennedy-Wilson, Inc. 4.75% 3/1/2029 | 49,816 | 42,666 | |
Kennedy-Wilson, Inc. 4.75% 2/1/2030 | 54,610 | 45,382 | |
Kennedy-Wilson, Inc. 5.00% 3/1/2031 | 47,370 | 38,780 | |
Ladder Capital Finance Holdings LLLP 5.25% 10/1/20251 | 12,489 | 12,390 | |
Ladder Capital Finance Holdings LLLP 4.25% 2/1/20271 | 24,411 | 23,145 | |
Ladder Capital Finance Holdings LLLP 4.75% 6/15/20291 | 20,541 | 18,991 | |
Ladder Capital Finance Holdings LLLP 7.00% 7/15/20311 | 10,015 | 10,109 | |
MPT Operating Partnership, LP 5.25% 8/1/2026 | 660 | 600 | |
MPT Operating Partnership, LP 5.00% 10/15/2027 | 133,633 | 110,491 | |
MPT Operating Partnership, LP 4.625% 8/1/2029 | 660 | 480 | |
MPT Operating Partnership, LP 3.50% 3/15/2031 | 22,912 | 14,956 | |
Park Intermediate Holdings, LLC 4.875% 5/15/20291 | 16,445 | 15,437 | |
Park Intermediate Holdings, LLC 7.00% 2/1/20301 | 8,445 | 8,553 | |
RLJ Lodging Trust, LP 4.00% 9/15/20291 | 14,905 | 13,181 | |
SBA Communications Corp. 3.125% 2/1/2029 | 2,854 | 2,547 | |
Service Properties Trust 5.25% 2/15/2026 | 2,545 | 2,466 | |
Service Properties Trust 4.75% 10/1/2026 | 35,350 | 33,153 | |
Service Properties Trust 4.95% 2/15/2027 | 40,577 | 36,908 | |
Service Properties Trust 5.50% 12/15/2027 | 5,705 | 5,305 | |
Service Properties Trust 3.95% 1/15/2028 | 60,660 | 50,867 | |
Service Properties Trust 8.375% 6/15/2029 | 44,361 | 43,645 | |
Service Properties Trust 4.95% 10/1/2029 | 52,971 | 40,239 | |
Service Properties Trust 4.375% 2/15/2030 | 23,746 | 16,797 | |
Service Properties Trust 8.625% 11/15/20311 | 88,870 | 92,717 |
American High-Income Trust — Page 17 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Real estate (continued) | Principal amount (000) | Value (000) | |
Service Properties Trust 8.875% 6/15/2032 | USD20,101 | $18,765 | |
VICI Properties, LP 3.50% 2/15/20251 | 5,104 | 5,039 | |
VICI Properties, LP 4.625% 6/15/20251 | 11,050 | 10,915 | |
VICI Properties, LP 4.25% 12/1/20261 | 9,323 | 8,999 | |
VICI Properties, LP 3.75% 2/15/20271 | 243 | 231 | |
VICI Properties, LP 3.875% 2/15/20291 | 12,535 | 11,600 | |
VICI Properties, LP 4.625% 12/1/20291 | 1,657 | 1,569 | |
VICI Properties, LP 4.125% 8/15/20301 | 2,233 | 2,033 | |
Xenia Hotels & Resorts, Inc. 6.375% 8/15/20251 | 3,560 | 3,559 | |
1,149,516 | |||
Consumer staples 4.08% | |||
Albertsons Companies, Inc. 4.625% 1/15/20271 | 7,215 | 6,975 | |
Albertsons Companies, Inc. 3.50% 3/15/20291 | 36,457 | 32,824 | |
Albertsons Companies, Inc. 4.875% 2/15/20301 | 8,665 | 8,195 | |
Amer Sports Co. 6.75% 2/16/20311 | 12,425 | 12,401 | |
B&G Foods, Inc. 5.25% 4/1/2025 | 3,642 | 3,631 | |
B&G Foods, Inc. 5.25% 9/15/2027 | 29,666 | 27,511 | |
B&G Foods, Inc. 8.00% 9/15/20281 | 20,880 | 21,245 | |
BJ’s Wholesale Club, Term Loan B, (3-month USD CME Term SOFR + 2.00%) 7.329% 2/5/20295,6 | 4,431 | 4,452 | |
Central Garden & Pet Co. 4.125% 10/15/2030 | 21,206 | 18,922 | |
Central Garden & Pet Co. 4.125% 4/30/20311 | 14,105 | 12,453 | |
Coty, Inc. 5.00% 4/15/20261 | 20,400 | 20,147 | |
Coty, Inc. 4.75% 1/15/20291 | 41,070 | 39,065 | |
Coty, Inc. 6.625% 7/15/20301 | 23,270 | 23,633 | |
Darling Ingredients, Inc. 5.25% 4/15/20271 | 6,431 | 6,305 | |
Darling Ingredients, Inc. 6.00% 6/15/20301 | 16,475 | 16,210 | |
Energizer Holdings, Inc. 4.375% 3/31/20291 | 4,880 | 4,419 | |
Fiesta Purchaser, Inc. 7.875% 3/1/20311 | 22,530 | 23,300 | |
Fiesta Purchaser, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 9.344% 2/12/20315,6 | 12,057 | 12,161 | |
H.J. Heinz Co. 3.00% 6/1/2026 | 6,360 | 6,094 | |
H.J. Heinz Co. 3.875% 5/15/2027 | 5,545 | 5,364 | |
H.J. Heinz Co. 4.375% 6/1/2046 | 5 | 4 | |
H.J. Heinz Co. 4.875% 10/1/2049 | 9,975 | 8,705 | |
Ingles Markets, Inc. 4.00% 6/15/20311 | 5,070 | 4,413 | |
KeHE Distributors, LLC 9.00% 2/15/20291 | 10,550 | 10,826 | |
Kronos Acquisition Holdings, Inc. 5.00% 12/31/20261 | 46,825 | 47,952 | |
Kronos Acquisition Holdings, Inc. 7.00% 12/31/20271 | 64,495 | 66,741 | |
Kronos Acquisition Holdings, Inc. 8.25% 6/30/20311 | 14,500 | 14,533 | |
Kronos Acquisition Holdings, Inc. 10.75% 6/30/20321 | 4,785 | 4,595 | |
Kronos Acquisition Holdings, Inc., Term Loan B2, (3-month USD CME Term SOFR + 6.00%) 11.493% 12/22/20265,6 | 1,955 | 1,960 | |
Lamb Weston Holdings, Inc. 4.125% 1/31/20301 | 37,760 | 34,314 | |
Performance Food Group, Inc. 5.50% 10/15/20271 | 16,205 | 15,864 | |
Performance Food Group, Inc. 4.25% 8/1/20291 | 5,785 | 5,270 | |
Post Holdings, Inc. 5.625% 1/15/20281 | 24,830 | 24,466 | |
Post Holdings, Inc. 5.50% 12/15/20291 | 19,249 | 18,586 | |
Post Holdings, Inc. 4.625% 4/15/20301 | 62,517 | 57,487 | |
Post Holdings, Inc. 4.50% 9/15/20311 | 24,360 | 21,850 | |
Post Holdings, Inc. 6.25% 2/15/20321 | 32,863 | 32,947 | |
Prestige Brands, Inc. 5.125% 1/15/20281 | 11,533 | 11,226 | |
Prestige Brands, Inc. 3.75% 4/1/20311 | 14,440 | 12,579 |
American High-Income Trust — Page 18 of 29
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer staples (continued) | Principal amount (000) | Value (000) | |
Simmons Foods, Inc. 4.625% 3/1/20291 | USD9,275 | $8,164 | |
TreeHouse Foods, Inc. 4.00% 9/1/2028 | 36,760 | 33,053 | |
United Natural Foods, Inc. 6.75% 10/15/20281 | 48,065 | 43,438 | |
United Natural Foods, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.75%) 10.094% 5/1/20315,6 | 35,465 | 35,664 | |
US Foods, Inc. 4.625% 6/1/20301 | 8,325 | 7,740 | |
827,684 | |||
Utilities 1.79% | |||
Aegea Finance SARL 9.00% 1/20/20311 | 7,485 | 7,790 | |
AmeriGas Partners, LP 5.50% 5/20/2025 | 2,293 | 2,285 | |
AmeriGas Partners, LP 5.75% 5/20/2027 | 5,878 | 5,550 | |
Calpine Corp. 5.25% 6/1/20261 | 1,051 | 1,040 | |
Calpine Corp. 4.50% 2/15/20281 | 4,000 | 3,804 | |
Calpine Corp. 5.125% 3/15/20281 | 8,282 | 7,971 | |
Calpine Corp. 3.75% 3/1/20311 | 9,175 | 8,116 | |
DPL, Inc. 4.125% 7/1/2025 | 10,965 | 10,777 | |
Emera, Inc. 6.75% 6/15/2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)7,11 | 18,225 | 18,156 | |
Enfragen Energia Sur SA 5.375% 12/30/20301 | 3,142 | 2,625 | |
Enfragen Energia Sur SA 5.375% 12/30/2030 | 339 | 283 | |
FirstEnergy Corp. 2.25% 9/1/2030 | 19,000 | 15,924 | |
FirstEnergy Corp. 5.10% 7/15/2047 | 4,000 | 3,446 | |
FirstEnergy Corp. 3.40% 3/1/2050 | 5,134 | 3,440 | |
FirstEnergy Transmission, LLC 2.866% 9/15/20281 | 5,075 | 4,637 | |
FirstEnergy Transmission, LLC 4.55% 4/1/20491 | 2,000 | 1,656 | |
MIWD Holdco II, LLC, Term Loan B, (3-month USD CME Term SOFR + 3.50%) 8.844% 3/28/20315,6 | 6,130 | 6,176 | |
NextEra Energy Operating Partners, LP 4.25% 7/15/20241 | 3,163 | 3,161 | |
NextEra Energy Operating Partners, LP 3.875% 10/15/20261 | 2,373 | 2,259 | |
NRG Energy, Inc. 3.625% 2/15/20311 | 2,000 | 1,717 | |
Pacific Gas and Electric Co. 3.45% 7/1/2025 | 6,096 | 5,949 | |
Pacific Gas and Electric Co. 3.30% 3/15/2027 | 3,904 | 3,700 | |
Pacific Gas and Electric Co. 5.45% 6/15/2027 | 5,670 | 5,675 | |
Pacific Gas and Electric Co. 3.75% 7/1/2028 | 6,055 | 5,688 | |
Pacific Gas and Electric Co. 4.55% 7/1/2030 | 4,170 | 3,954 | |
Pacific Gas and Electric Co. 3.30% 8/1/2040 | 5,540 | 3,950 | |
Pacific Gas and Electric Co. 4.95% 7/1/2050 | 3,300 | 2,729 | |
Pacific Gas and Electric Co. 3.50% 8/1/2050 | 44,090 | 28,813 | |
PG&E Corp. 5.00% 7/1/2028 | 56,920 | 54,823 | |
PG&E Corp. 5.25% 7/1/2030 | 75,785 | 72,434 | |
Talen Energy Supply, LLC 8.625% 6/1/20301 | 50,151 | 53,513 | |
Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 3.50%) 8.827% 5/17/20305,6 | 5,925 | 5,982 | |
Vistra Operations Co., LLC 3.55% 7/15/20241 | 5,769 | 5,762 | |
363,785 | |||
Municipals 0.02% | |||
Aeropuertos Dominicanos Siglo XXI, SA 7.00% 6/30/20341 | 3,486 | 3,534 | |
Total corporate bonds, notes & loans | 17,442,165 |
American High-Income Trust — Page 19 of 29
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes 0.59% U.S. Treasury 0.59% | Principal amount (000) | Value (000) | |
U.S. Treasury 3.875% 8/15/2033 | USD88,550 | $85,195 | |
U.S. Treasury 3.625% 5/15/2053 | 5,000 | 4,257 | |
U.S. Treasury 4.125% 8/15/205312 | 31,500 | 29,348 | |
118,800 | |||
Mortgage-backed obligations 0.07% Collateralized mortgage-backed obligations 0.07% | |||
Treehouse Park Improvement Association No.1 9.75% 12/1/20331,3 | 15,299 | 14,955 | |
Bonds & notes of governments & government agencies outside the U.S. 0.03% | |||
Argentine Republic 0.75% 7/9/2030 (1.75% on 7/9/2027)7 | 12,375 | 6,998 | |
Total bonds, notes & other debt instruments (cost: $18,240,022,000) | 17,582,918 | ||
Convertible bonds & notes 0.19% Communication services 0.19% | |||
DISH Network Corp., convertible notes, 3.375% 8/15/2026 | 62,635 | 39,157 | |
Total convertible bonds & notes (cost: $58,278,000) | 39,157 | ||
Common stocks 4.43% Health care 1.22% | Shares | ||
Rotech Healthcare, Inc.3,9,10,13 | 1,916,276 | 188,753 | |
Endo, Inc.13 | 1,472,158 | 41,405 | |
Endo, Inc.1,13 | 527,408 | 14,833 | |
Endo, Inc. GUC 6.00% Escrow3,13 | 45,278,000 | — 8 | |
Endo, Inc., 1L 7.50% Escrow3,13 | 110,659,000 | — 8 | |
Endo, Inc., 2L 9.50% Escrow3,13 | 6,243,000 | — 8 | |
Endo, Inc., 1L 6.875% Escrow3,13 | 10,374,000 | — 8 | |
Endo, Inc., 1L 6.125% Escrow3,13 | 12,320,000 | — 8 | |
Mallinckrodt PLC13 | 62,717 | 3,355 | |
248,346 | |||
Information technology 1.10% | |||
Diebold Nixdorf, Inc.9,13 | 5,800,284 | 223,195 | |
Energy 0.72% | |||
Chesapeake Energy Corp. | 560,545 | 46,071 | |
Ascent Resources - Utica, LLC, Class A3,10 | 905,325 | 38,060 | |
Weatherford International13 | 206,113 | 25,239 | |
Altera Infrastructure, LP3,13 | 123,978 | 9,260 | |
Constellation Oil Services Holding SA, Class B-13,13 | 51,096,574 | 8,175 | |
Mesquite Energy, Inc.3,13 | 109,992 | 6,235 | |
Diamond Offshore Drilling, Inc.13 | 378,640 | 5,865 | |
Civitas Resources, Inc. | 57,659 | 3,979 | |
Exxon Mobil Corp. | 16,090 | 1,852 | |
Southwestern Energy Co.13 | 229,524 | 1,545 | |
McDermott International, Ltd.10,13 | 1,745,604 | 506 | |
Bighorn Permian Resources, LLC3 | 42,744 | — 8 | |
146,787 |
American High-Income Trust — Page 20 of 29
unaudited
Common stocks (continued) Utilities 0.61% | Shares | Value (000) | |
Talen Energy Corp.13 | 1,065,383 | $118,279 | |
PG&E Corp. | 264,795 | 4,623 | |
122,902 | |||
Consumer discretionary 0.33% | |||
Party City Holdco, Inc.3,9,13 | 2,530,772 | 44,086 | |
Party City Holdco, Inc.1,3,9,13 | 25,266 | 440 | |
NMG Parent, LLC13 | 182,562 | 20,767 | |
MYT Holding Co., Class B9,13 | 7,468,376 | 851 | |
66,144 | |||
Materials 0.24% | |||
Venator Materials PLC3,9,13 | 68,896 | 48,606 | |
Communication services 0.15% | |||
Frontier Communications Parent, Inc.13 | 600,000 | 15,708 | |
Intelsat SA | 319,194 | 12,002 | |
Clear Channel Outdoor Holdings, Inc.13 | 890,868 | 1,256 | |
Cumulus Media, Inc., Class A13 | 561,836 | 1,146 | |
iHeartMedia, Inc., Class A13 | 310,596 | 339 | |
30,451 | |||
Real estate 0.06% | |||
WeWork, Inc.3,13 | 1,257,820 | 12,603 | |
Total common stocks (cost: $855,206,000) | 899,034 | ||
Preferred securities 0.19% Industrials 0.12% | |||
ACR III LSC Holdings, LLC, Series B, preferred shares1,3,13 | 13,566 | 23,247 | |
Consumer discretionary 0.07% | |||
MYT Holdings, LLC, Series A, 10.00% preferred shares9,13 | 19,884,070 | 13,432 | |
Energy 0.00% | |||
McDermott International, Ltd. 8.00% cumulative preferred shares13 | 1,130 | 226 | |
Total preferred securities (cost: $32,392,000) | 36,905 | ||
Rights & warrants 0.02% Consumer discretionary 0.02% | |||
NMG Parent, LLC, warrants, expire 9/24/202713 | 407,047 | 3,969 | |
Energy 0.00% | |||
California Resources Corp., warrants, expire 10/27/202413 | 16,108 | 287 | |
McDermott International, Inc., warrants, expire 7/1/202713 | 845,563 | 26 | |
Constellation Oil Services Holding SA, Class D, warrants, expire 6/10/20713,13 | 18 | — 8 | |
313 | |||
Total rights & warrants (cost: $4,056,000) | 4,282 |
American High-Income Trust — Page 21 of 29
unaudited
Short-term securities 7.45% Money market investments 7.45% | Shares | Value (000) | |
Capital Group Central Cash Fund 5.37%9,14 | 15,114,593 | $1,511,459 | |
Total short-term securities (cost: $1,511,602,000) | 1,511,459 | ||
Total investment securities 98.92% (cost: $20,701,556,000) | 20,073,755 | ||
Other assets less liabilities 1.08% | 219,911 | ||
Net assets 100.00% | $20,293,666 |
Futures contracts
Contracts | Type | Number of contracts | Expiration date | Notional amount (000) | Value and unrealized appreciation (depreciation) at 6/30/2024 (000) |
30 Day Federal Funds Futures | Long | 4,152 | 9/3/2024 | USD1,638,355 | $(803 ) |
2 Year U.S. Treasury Note Futures | Long | 1,845 | 10/3/2024 | 376,784 | 910 |
5 Year U.S. Treasury Note Futures | Long | 3,551 | 10/3/2024 | 378,459 | 2,275 |
10 Year U.S. Treasury Note Futures | Long | 97 | 9/30/2024 | 10,668 | 117 |
10 Year Ultra U.S. Treasury Note Futures | Short | 144 | 9/30/2024 | (16,349 ) | (114 ) |
30 Year Ultra U.S. Treasury Bond Futures | Long | 38 | 9/30/2024 | 4,763 | 46 |
$2,431 |
Swap contracts
Credit default swaps
Centrally cleared credit default swaps on credit indices — buy protection
Reference index | Financing rate paid | Payment frequency | Expiration date | Notional amount (000) | Value at 6/30/2024 (000) | Upfront premium paid (received) (000) | Unrealized appreciation (depreciation) at 6/30/2024 (000) |
CDX.NA.HY.41 | 5.00% | Quarterly | 12/20/2028 | USD151,416 | $(9,644 ) | $(9,290 ) | $(354 ) |
CDX.NA.IG.42 | 1.00% | Quarterly | 6/20/2029 | 300,636 | (6,191 ) | (6,457 ) | 266 |
CDX.NA.HY.42 | 5.00% | Quarterly | 6/20/2029 | 60,171 | (3,774 ) | (3,947 ) | 173 |
$(19,609 ) | $(19,694 ) | $85 |
American High-Income Trust — Page 22 of 29
unaudited
Investments in affiliates9
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Bonds, notes & other debt instruments 1.25% | |||||||
Information technology 1.03% | |||||||
Diebold Nixdorf, Inc., Term Loan, (3-month USD CME Term SOFR + 7.50%) 12.826% 8/11/20281,5,6 | $200,668 | $35,676 | $32,885 | $1,059 | $4,292 | $208,810 | $20,991 |
Diebold Nixdorf, Inc., Term Loan, (3-month USD CME Term SOFR + 5.25%) 10.479% 7/15/202515 | 27 | — | 115 | — | 88 | — | — |
208,810 | |||||||
Consumer discretionary 0.22% | |||||||
Party City Holdings, Inc. 12.00% PIK 1/11/20291,4 | — | 43,202 | — | — | 2,598 | 45,800 | 4,122 |
Party City Holdings, Inc. 0% 10/12/20283 | — | — 8 | — | — | — | — 8 | — |
Party City Holdings, Inc. 0% 10/12/20283 | — | — 8 | — | — | — | — 8 | — |
45,800 | |||||||
Total bonds, notes & other debt instruments | 254,610 | ||||||
Common stocks 2.49% | |||||||
Health care 0.93% | |||||||
Rotech Healthcare, Inc.3,10,13 | 201,209 | — | — | — | (12,456 ) | 188,753 | — |
Information technology 1.10% | |||||||
Diebold Nixdorf, Inc.13 | 104,312 | 230 | 115 | — 8 | 118,768 | 223,195 | — |
Consumer discretionary 0.22% | |||||||
Party City Holdco, Inc.3,13 | — | 21,180 | — | — | 22,906 | 44,086 | — |
Party City Holdco, Inc.1,3,13 | — | 159 | — | — | 281 | 440 | — |
MYT Holding Co., Class B13 | 5,601 | — | — | — | (4,750 ) | 851 | — |
45,377 | |||||||
Materials 0.24% | |||||||
Venator Materials PLC3,13 | — | 141,090 | — | — | (92,484 ) | 48,606 | — |
Total common stocks | 505,931 | ||||||
Preferred securities 0.07% | |||||||
Consumer discretionary 0.07% | |||||||
MYT Holdings, LLC, Series A, 10.00% preferred shares13 | 12,925 | — | — | — | 507 | 13,432 | — |
Short-term securities 7.45% | |||||||
Money market investments 7.45% | |||||||
Capital Group Central Cash Fund 5.37%14 | 1,171,249 | 2,966,508 | 2,626,431 | 81 | 52 | 1,511,459 | 54,634 |
Total 11.26% | $1,140 | $39,802 | $2,285,432 | $79,747 |
Restricted securities10
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Rotech Healthcare, Inc.3,9,13 | 9/26/2013 | $41,128 | $188,753 | .93 % |
Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 12.459% 9/13/20295,6 | 9/13/2023 | 73,430 | 75,173 | .37 |
Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 12.581% 9/13/20295,6 | 9/13/2023-6/13/2024 | 823 | 827 | .01 |
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)3,7 | 6/23/2023 | 59,148 | 59,205 | .29 |
American High-Income Trust — Page 23 of 29
unaudited
Restricted securities10 (continued)
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Ascent Resources - Utica, LLC, Class A3 | 4/25/2016-11/15/2016 | $4,340 | $38,060 | .19 % |
McDermott International, Ltd.13 | 4/4/2018-12/31/2020 | 7,967 | 506 | .00 16 |
Total | $186,836 | $362,524 | 1.79 % |
1 | Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $12,973,313,000, which represented 63.93% of the net assets of the fund. |
2 | Scheduled interest and/or principal payment was not received. |
3 | Value determined using significant unobservable inputs. |
4 | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. |
5 | Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $972,590,000, which represented 4.79% of the net assets of the fund. |
6 | 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. |
7 | Step bond; coupon rate may change at a later date. |
8 | Amount less than one thousand. |
9 | Affiliate of the fund or part of the same “group of investment companies“ as the fund, as defined under the Investment Company Act of 1940, as amended. |
10 | Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $362,524,000, which represented 1.79% of the net assets of the fund. |
11 | Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date. |
12 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $19,381,000, which represented .10% of the net assets of the fund. |
13 | Security did not produce income during the last 12 months. |
14 | Rate represents the seven-day yield at 6/30/2024. |
15 | Affiliated issuer during the reporting period but no longer held at 6/30/2024. |
16 | Amount less than .01%. |
American High-Income Trust — Page 24 of 29
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 per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
Fixed-income class | Examples of standard inputs |
All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
Mortgage-backed; asset-backed obligations | Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information |
Municipal securities | Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts |
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. The average month-end notional amount of futures contracts while held was $723,224,000. 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, and terms of the contract. The average month-end notional amounts of credit default swaps while held were $314,264,000.
American High-Income Trust — Page 25 of 29
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, 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 June 30, 2024 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Bonds, notes & other debt instruments: | ||||
Corporate bonds, notes & loans | $— | $17,325,627 | $116,538 | $17,442,165 |
U.S. Treasury bonds & notes | — | 118,800 | — | 118,800 |
Mortgage-backed obligations | — | — | 14,955 | 14,955 |
Bonds & notes of governments & government agencies outside the U.S. | — | 6,998 | — | 6,998 |
Convertible bonds & notes | — | 39,157 | — | 39,157 |
Common stocks | 449,603 | 93,213 | 356,218 | 899,034 |
Preferred securities | — | 13,658 | 23,247 | 36,905 |
Rights & warrants | 287 | 3,995 | — 1 | 4,282 |
Short-term securities | 1,511,459 | — | — | 1,511,459 |
Total | $1,961,349 | $17,601,448 | $510,958 | $20,073,755 |
Refer to the end of the table for footnotes.
American High-Income Trust — Page 26 of 29
unaudited
Other investments2 | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on futures contracts | $3,348 | $— | $— | $3,348 |
Unrealized appreciation on centrally cleared credit default swaps | — | 439 | — | 439 |
Liabilities: | ||||
Unrealized depreciation on futures contracts | (917 ) | — | — | (917 ) |
Unrealized depreciation on centrally cleared credit default swaps | — | (354 ) | — | (354 ) |
Total | $2,431 | $85 | $— | $2,516 |
1
Amount less than one thousand.
2
Futures contracts and credit default swaps are not included in the investment portfolio.
The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the nine months ended
June 30, 2024 (dollars in thousands):
June 30, 2024 (dollars in thousands):
Beginning value at 10/1/2023 | Transfers into Level 33 | Purchases | Sales | Net realized loss | Unrealized appreciation | Transfers out of Level 33 | Ending value at 6/30/2024 | |
Investment securities | $359,671 | $5,601 | $91,272 | $(944 ) | $(104,645 ) | $165,661 | $(5,658 ) | $510,958 |
Net unrealized appreciation during the period on Level 3 investment securities held at June 30, 2024 | $60,138 |
3
Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.
American High-Income Trust — Page 27 of 29
unaudited
Unobservable inputs — Valuation of the fund’s Level 3 securities is 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 following table provides additional information used by the fund’s investment adviser to fair value the fund’s Level 3 securities (dollars in thousands):
Value at 6/30/2024 | Valuation techniques | Unobservable inputs | Range (if applicable) | Weighted average1 | Impact to valuation from an increase in input2 | |
Bonds, notes & other debt instruments | 131,493 | Estimated recovery value | Expected proceeds | Not applicable | Not applicable | Not applicable |
Discount for uncertainty | 5% | 5% | Decrease | |||
De minimis | Not applicable | Not applicable | Not applicable | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Net adjustment (decrease) based on movement of market comparables | 1% | 1% | Decrease | |||
Market compa- rables | Yield | 11% | 11% | Decrease | ||
Common stocks | 356,218 | Estimated recovery value | De minimis | Not applicable | Not applicable | Not applicable |
Expected proceeds | Not applicable | Not applicable | Not applicable | |||
Vendor price | Not applicable | Not applicable | Not applicable | |||
Discount for uncertainty | 20% | 20% | Decrease | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Market compa- rables | EV/EBITDA multiple | 5.7x - 7.9x | 6.3x | Increase | ||
Discount to EV/EBITDA multiple | 13% | 13% | Decrease | |||
Premium to EV/EBITDA multiple | 15% | 15% | Increase | |||
Price/Book Value multiple | 0.7x | 0.7x | Increase | |||
Premium to Price/Book Value multiple | 30% | 30% | Increase | |||
DLOM | 6% - 16% | 13% | Decrease | |||
EV/EBITDA less CapEx multiple | 11.2x | 11.2x | Increase | |||
Preferred securities | 23,247 | Market compa- rables | EV/EBITDA multiple | 4.5x | 4.5x | Increase |
DLOM | 15% | 15% | Decrease | |||
Rights & warrants | — 3 | Estimated recovery value | De minimis | Not applicable | Not applicable | Not applicable |
510,958 |
1
Weighted average is by relative fair value.
2
This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
3
Amount less than one thousand.
American High-Income Trust — Page 28 of 29
unaudited
Key to abbreviation(s) |
CapEx = Capital expenditures |
CME = CME Group |
DAC = Designated Activity Company |
DLOM = Discount for lack of marketability |
EBITDA = Earnings before income taxes, depreciation and amortization |
EUR = Euros |
EV = Enterprise value |
LIBOR = London Interbank Offered Rate |
MXN = Mexican pesos |
PIK = Payment In Kind |
REIT = Real Estate Investment Trust |
SOFR = Secured Overnight Financing Rate |
USD = U.S. dollars |
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2024 Capital Group. All rights reserved.
MFGEFP3-021-0824
American High-Income Trust — Page 29 of 29