SMALLCAP World Fund®
Investment portfolio
June 30, 2020
unaudited
Common stocks 93.17% Information technology 24.40% | Shares | Value (000) |
RingCentral, Inc., Class A1 | 4,335,900 | $1,235,775 |
MongoDB, Inc., Class A1 | 2,909,206 | 658,470 |
Alteryx, Inc., Class A1 | 2,390,100 | 392,646 |
DocuSign, Inc.1 | 2,141,929 | 368,862 |
Cree, Inc.1,2 | 5,472,938 | 323,943 |
Smartsheet Inc., Class A1 | 5,832,300 | 296,981 |
Paycom Software, Inc.1 | 822,769 | 254,836 |
Inphi Corp.1 | 2,089,242 | 245,486 |
Square, Inc., Class A1 | 2,274,730 | 238,710 |
SimCorp AS2,3 | 2,159,450 | 232,654 |
TeamViewer AG1,3 | 4,257,886 | 232,303 |
Net One Systems Co., Ltd.2,3 | 6,879,958 | 229,397 |
Ceridian HCM Holding Inc.1 | 2,851,343 | 226,026 |
Netcompany Group AS, non-registered shares1,2,3 | 3,279,837 | 215,004 |
Alarm.Com Holdings, Inc.1,2 | 3,208,000 | 207,911 |
Globant SA1 | 1,316,531 | 197,282 |
Kingdee International Software Group Co. Ltd.3 | 80,742,093 | 187,967 |
Network International Holdings PLC1,2,3 | 32,306,163 | 176,286 |
Bottomline Technologies, Inc.1,2 | 3,212,000 | 163,073 |
EPAM Systems, Inc.1 | 635,700 | 160,203 |
BE Semiconductor Industries NV3 | 3,436,020 | 152,798 |
CANCOM SE, non-registered shares1,2,3 | 2,878,806 | 152,514 |
Sinch AB1,3 | 1,779,754 | 151,972 |
Carel Industries SpA2,3 | 8,000,000 | 146,748 |
SVMK Inc.1 | 6,233,380 | 146,734 |
Silergy Corp.3 | 2,224,060 | 144,336 |
Yext, Inc.1,2 | 8,661,274 | 143,864 |
Avast PLC3 | 20,250,500 | 132,452 |
Fortnox AB2,3 | 4,782,746 | 130,766 |
Douzone Bizon Co., Ltd.3 | 1,393,858 | 119,295 |
Okta, Inc., Class A1 | 581,800 | 116,494 |
Kinaxis Inc.1 | 785,418 | 112,270 |
MKS Instruments, Inc. | 945,488 | 107,067 |
Cabot Microelectronics Corp. | 756,700 | 105,590 |
Euronet Worldwide, Inc.1 | 1,100,206 | 105,422 |
SHIFT Inc.1,2,3,4 | 1,024,000 | 104,099 |
Appfolio, Inc., Class A1 | 636,532 | 103,570 |
Bechtle AG, non-registered shares3 | 588,521 | 103,454 |
Megaport Ltd.1,2,3 | 12,040,000 | 100,600 |
SoftwareONE Holding AG3 | 3,849,300 | 94,887 |
MACOM Technology Solutions Holdings, Inc.1 | 2,760,000 | 94,806 |
Qorvo, Inc.1 | 821,404 | 90,790 |
Justsystems Corp.3 | 1,242,100 | 87,777 |
Oneconnect Financial Technology Co., Ltd. (ADR)1,4 | 4,717,371 | 86,139 |
Avalara, Inc.1 | 629,914 | 83,835 |
Nuance Communications, Inc.1 | 3,278,000 | 82,950 |
Elastic NV, non-registered shares1 | 861,000 | 79,393 |
SMALLCAP World Fund — Page 1 of 26
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) |
GB Group PLC3 | 9,530,000 | $79,310 |
Siltronic AG3 | 748,500 | 76,247 |
Halma PLC3 | 2,663,862 | 75,916 |
CDW Corp. | 650,000 | 75,517 |
Viavi Solutions Inc.1 | 5,732,000 | 73,026 |
Endava PLC, Class A (ADR)1 | 1,487,998 | 71,870 |
eMemory Technology Inc.2,3 | 4,024,334 | 66,132 |
Agora, Inc. (ADR)1 | 1,480,000 | 65,372 |
Hamamatsu Photonics KK3 | 1,439,850 | 62,350 |
SUNeVision Holdings Ltd.3 | 73,954,000 | 58,176 |
Computer Services, Inc. | 1,084,411 | 58,016 |
RealPage, Inc.1 | 863,610 | 56,143 |
Money Forward, Inc.1,3 | 1,006,952 | 56,020 |
Pegasystems Inc. | 549,775 | 55,621 |
Autodesk, Inc.1 | 230,000 | 55,014 |
Nordic Semiconductor ASA1,3 | 7,157,869 | 54,685 |
Anaplan, Inc.1 | 1,129,467 | 51,176 |
Vanguard International Semiconductor Corp.3 | 19,173,948 | 50,464 |
Repay Holdings Corp., Class A1 | 2,031,034 | 50,024 |
BlackLine, Inc.1 | 595,000 | 49,331 |
Nemetschek SE3 | 709,687 | 48,693 |
Cognex Corp. | 800,000 | 47,776 |
Aspen Technology, Inc. (USA)1 | 417,000 | 43,205 |
ON Semiconductor Corp.1 | 2,173,955 | 43,088 |
Pexip Holding ASA1,3 | 4,893,107 | 42,702 |
Temenos AG3 | 270,000 | 41,862 |
Cardtronics PLC, Class A1 | 1,602,000 | 38,416 |
ASM Pacific Technology Ltd.3 | 3,583,779 | 37,877 |
Semtech Corp.1 | 696,600 | 36,376 |
Rapid7, Inc.1 | 712,000 | 36,326 |
TravelSky Technology Ltd., Class H3 | 20,349,000 | 35,854 |
Novanta Inc.1 | 335,300 | 35,800 |
Unimicron Technology Corp.3 | 20,840,000 | 35,274 |
SUMCO Corp.3 | 2,233,600 | 34,194 |
Silicon Laboratories Inc.1 | 341,000 | 34,192 |
Venustech Group Inc., Class A3 | 5,493,430 | 32,696 |
AAC Technologies Holdings Inc.3,4 | 5,275,000 | 32,296 |
Maxlinear, Inc.1 | 1,500,000 | 32,190 |
SYNNEX Corp. | 268,000 | 32,098 |
Disco Corp. (Japan)3 | 131,500 | 31,839 |
LPKF Laser & Electronics AG, non-registered shares2,3 | 1,400,000 | 30,258 |
Fineos Corp Holdings PLC1,3 | 10,967,570 | 29,627 |
AIXTRON SE1,3 | 2,434,518 | 29,308 |
QAD Inc., Class A | 687,799 | 28,392 |
Yangtze Optical Fibre and Cable Joint Stock Ltd. Co., Class H3,4 | 15,030,000 | 27,645 |
Acacia Communications, Inc.1 | 380,000 | 25,532 |
NIIT Technologies Ltd.3 | 1,358,231 | 25,382 |
PAR Technology Corp.1,4 | 846,778 | 25,344 |
Zendesk, Inc.1 | 273,000 | 24,169 |
LEM Holding SA3 | 15,943 | 23,548 |
Trimble Inc.1 | 530,000 | 22,891 |
Paylocity Holding Corp.1 | 150,000 | 21,884 |
Appen Ltd.3 | 889,417 | 20,907 |
EVERTEC, Inc. | 741,912 | 20,848 |
Veeco Instruments Inc.1 | 1,490,000 | 20,100 |
SMALLCAP World Fund — Page 2 of 26
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) |
Yeahka Ltd.1,3 | 8,908,400 | $19,770 |
oRo Co., Ltd.3 | 804,200 | 19,342 |
Global Unichip Corp.3 | 2,210,000 | 18,857 |
Flex Ltd.1 | 1,834,600 | 18,805 |
LiveRamp Holdings, Inc.1 | 437,600 | 18,585 |
INFICON Holding AG3 | 23,396 | 18,127 |
Coupa Software Inc.1 | 61,500 | 17,038 |
Tyro Payments Ltd.1,3 | 6,695,093 | 16,253 |
GMO Payment Gateway, Inc.3 | 153,000 | 15,944 |
FDM Group (Holdings) PLC3 | 1,415,000 | 15,939 |
CDK Global, Inc. | 384,216 | 15,914 |
NHN KCP Corp.3 | 379,339 | 15,672 |
ALTEN SA, non-registered shares1,3 | 179,800 | 15,442 |
Smart Metering Systems PLC3 | 2,053,096 | 15,060 |
TTM Technologies, Inc.1 | 1,167,000 | 13,841 |
Fabrinet, non-registered shares1 | 218,080 | 13,613 |
Fair Isaac Corp.1 | 29,100 | 12,165 |
Maruwa Co., Ltd.3 | 154,400 | 11,657 |
Smaregi, Inc.1,3,4 | 363,700 | 11,448 |
TeamSpirit Inc.1,3,4 | 450,000 | 11,236 |
Globalwafers Co., Ltd.3 | 777,000 | 10,586 |
S&T AG, non-registered shares1,3 | 396,250 | 10,141 |
Keywords Studios PLC3 | 448,434 | 10,062 |
Cloudflare, Inc., Class A1 | 264,395 | 9,505 |
Zebra Technologies Corp., Class A1 | 36,300 | 9,291 |
Crayon Group Holding ASA1,3 | 1,354,713 | 8,831 |
eCloudvalley Digital Technology Co., Ltd.3 | 1,340,000 | 8,007 |
Foursquare Labs, Inc., Series A1,3,5,6,7 | 1,970,385 | 5,891 |
Reply SpA3 | 71,184 | 5,740 |
Guidewire Software, Inc.1 | 50,075 | 5,551 |
Vitec Software Group AB, Class B3 | 229,013 | 5,166 |
Softcat PLC3 | 359,650 | 4,853 |
Teradata Corp.1 | 192,700 | 4,008 |
Cloudera, Inc.1,4 | 296,400 | 3,770 |
Zuken Inc.3 | 139,300 | 3,698 |
Renishaw PLC3 | 71,158 | 3,545 |
Sabre Corp. | 371,400 | 2,994 |
Technology One Ltd.3 | 92,891 | 565 |
RAKUS Co., Ltd.3 | 5,776 | 102 |
12,120,450 | ||
Health care 20.32% | ||
Insulet Corp.1,2 | 3,487,001 | 677,385 |
Molina Healthcare, Inc.1 | 2,579,100 | 459,028 |
Notre Dame Intermédica Participações SA | 25,176,829 | 314,867 |
CanSino Biologics Inc., Class H1,2,3 | 10,551,404 | 291,714 |
Haemonetics Corp.1,2 | 3,243,450 | 290,483 |
Allakos Inc.1,2,4 | 3,802,533 | 273,250 |
DexCom, Inc.1 | 641,300 | 259,983 |
Centene Corp.1 | 3,922,978 | 249,305 |
Fisher & Paykel Healthcare Corp. Ltd.3 | 10,329,000 | 238,859 |
GW Pharmaceuticals PLC (ADR)1,2,4 | 1,864,090 | 228,761 |
NovoCure Ltd.1 | 3,666,797 | 217,441 |
Allogene Therapeutics, Inc.1,4 | 4,392,099 | 188,070 |
Allogene Therapeutics, Inc.1 | 653,594 | 27,987 |
SMALLCAP World Fund — Page 3 of 26
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) |
Mani, Inc.2,3 | 6,830,382 | $180,228 |
Ultragenyx Pharmaceutical Inc.1 | 2,030,670 | 158,839 |
Teladoc Health, Inc.1 | 770,000 | 146,947 |
Amplifon SpA1,3 | 5,419,500 | 144,147 |
Integra LifeSciences Holdings Corp.1 | 3,032,175 | 142,482 |
Bluebird Bio, Inc.1 | 2,240,437 | 136,756 |
GVS SpA1,2,3 | 11,404,178 | 132,610 |
Ambu AS, Class B, non-registered shares3 | 4,210,500 | 132,339 |
Biohaven Pharmaceutical Holding Co. Ltd.1 | 1,806,900 | 132,102 |
iRhythm Technologies, Inc.1 | 1,080,568 | 125,227 |
STAAR Surgical Co.1 | 1,918,400 | 118,058 |
Fagron NV2,3 | 5,478,326 | 115,134 |
Legend Biotech Corp., Class A1,3,5,7 | 3,968,665 | 70,096 |
Legend Biotech Corp., (ADR)1 | 1,017,388 | 43,300 |
Vitrolife AB1,3 | 5,002,795 | 111,788 |
Zai Lab Ltd. (ADR)1 | 1,356,900 | 111,442 |
Cortexyme, Inc.1,2,4 | 2,353,382 | 108,962 |
PRA Health Sciences, Inc.1 | 1,077,650 | 104,845 |
Silk Road Medical, Inc.1,2 | 2,483,600 | 104,038 |
Natera, Inc.1 | 2,026,000 | 101,016 |
Pharmaron Beijing Co., Ltd., Class H3,4 | 9,308,000 | 96,196 |
Adaptimmune Therapeutics PLC (ADR)1,2 | 9,323,900 | 93,332 |
Penumbra, Inc.1 | 508,744 | 90,974 |
Madrigal Pharmaceuticals, Inc.1 | 742,922 | 84,136 |
Galapagos NV1,3 | 418,239 | 82,104 |
Revance Therapeutics, Inc.1,2 | 3,291,900 | 80,388 |
Exact Sciences Corp.1 | 890,000 | 77,377 |
Agilon Health TopCo, Inc.1,3,5,6 | 131,143 | 77,115 |
New Frontier Health Corp., Class A1,2,7 | 9,313,186 | 77,113 |
CompuGroup Medical SE & Co. KGaA3 | 955,100 | 75,104 |
Metropolis Healthcare Ltd.2,3 | 3,995,946 | 72,149 |
Health Catalyst, Inc.1,2,4 | 2,371,300 | 69,171 |
Autolus Therapeutics PLC (ADR)1,2,4 | 4,178,494 | 66,981 |
Incyte Corp.1 | 640,000 | 66,541 |
NuVasive, Inc.1 | 1,166,000 | 64,900 |
Genus PLC3 | 1,480,000 | 64,721 |
MorphoSys AG, non-registered shares1,3 | 510,875 | 64,531 |
Applied Molecular Transport Inc.1,2,4 | 2,494,418 | 62,710 |
Hutchison China MediTech Ltd. (ADR)1 | 2,271,707 | 62,654 |
Cellectis SA (ADR)1,2 | 2,214,336 | 39,415 |
Cellectis SA, non-registered shares1,2,3 | 1,181,240 | 21,060 |
Menicon Co., Ltd.3 | 1,220,500 | 59,930 |
Sysmex Corp.3 | 765,600 | 58,803 |
Hikma Pharmaceuticals PLC3 | 2,117,000 | 58,188 |
Globus Medical, Inc., Class A1 | 1,190,500 | 56,799 |
Genmab A/S1,3 | 165,000 | 55,196 |
Nakanishi Inc.3 | 4,056,500 | 52,889 |
Adaptive Biotechnologies Corp.1 | 1,077,200 | 52,115 |
Editas Medicine, Inc.1 | 1,760,000 | 52,061 |
Sarepta Therapeutics, Inc.1 | 320,842 | 51,444 |
CryoLife, Inc.1,2 | 2,669,914 | 51,182 |
Flexion Therapeutics, Inc.1,2 | 3,823,000 | 50,272 |
WuXi Biologics (Cayman) Inc.1,3 | 2,672,000 | 48,959 |
CellaVision AB, non-registered shares1,2,3 | 1,550,300 | 46,713 |
Divi’s Laboratories Ltd.3 | 1,500,000 | 45,417 |
SMALLCAP World Fund — Page 4 of 26
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) |
Vir Biotechnology, Inc.1,4 | 1,094,305 | $44,834 |
Revenio Group Oyj, non-registered shares2,3 | 1,400,519 | 44,239 |
Glaukos Corp.1 | 1,150,322 | 44,195 |
Pacific Biosciences of California, Inc.1,2 | 12,242,300 | 42,236 |
Gossamer Bio, Inc.1 | 3,171,051 | 41,224 |
Shandong Pharmaceutical Glass Co., Ltd., Class A1,3 | 4,764,328 | 39,092 |
Tandem Diabetes Care, Inc.1 | 375,300 | 37,125 |
Novavax, Inc.1,4 | 444,228 | 37,026 |
Genomma Lab Internacional, SAB de CV, Series B1 | 35,953,000 | 36,712 |
Carl Zeiss Meditec AG, non-registered shares1,3 | 368,406 | 35,897 |
AddLife AB, Class B1,3 | 3,307,444 | 34,937 |
Hypera SA, ordinary nominative | 5,561,283 | 34,054 |
Precision BioSciences, Inc.1,2,4 | 4,062,000 | 33,836 |
Fleury SA, ordinary nominative | 7,473,900 | 33,796 |
Guardant Health, Inc.1 | 412,233 | 33,445 |
Guangzhou Kingmed Diagnostics Group Co., Ltd., Class A3 | 2,620,281 | 33,166 |
CONMED Corp. | 453,000 | 32,612 |
Twist Bioscience Corp.1 | 704,000 | 31,891 |
Neurocrine Biosciences, Inc.1 | 258,000 | 31,476 |
Abcam PLC3 | 1,900,000 | 31,355 |
Krka, dd, Novo mesto3 | 335,262 | 31,221 |
BioMarin Pharmaceutical Inc.1 | 250,000 | 30,835 |
Hangzhou Tigermed Consulting Co., Ltd., Class A3 | 2,107,152 | 30,374 |
Genetron Holdings Ltd. (ADR)1,4 | 2,472,191 | 29,839 |
Global Blood Therapeutics, Inc.1,4 | 467,520 | 29,515 |
Revolution Medicines, Inc.1 | 920,453 | 29,059 |
Karuna Therapeutics, Inc.1 | 259,000 | 28,868 |
Schrodinger, Inc.1,4 | 310,500 | 28,433 |
Shockwave Medical, Inc.1 | 585,000 | 27,711 |
CRISPR Therapeutics AG1 | 375,000 | 27,559 |
Encompass Health Corp. | 443,400 | 27,460 |
Asahi Intecc Co., Ltd.3 | 962,400 | 27,347 |
Zealand Pharma A/S1,3 | 782,816 | 26,946 |
Addus HomeCare Corp.1 | 290,000 | 26,842 |
Phreesia, Inc.1 | 945,659 | 26,743 |
Wright Medical Group NV1 | 879,857 | 26,149 |
Xenon Pharmaceuticals Inc.1,2,4 | 2,019,226 | 25,321 |
Acerta Pharma BV1,3,5,6 | 195,556,815 | 25,149 |
Hugel, Inc.1,3 | 57,557 | 22,755 |
OdontoPrev SA, ordinary nominative | 8,459,900 | 22,137 |
Black Diamond Therapeutics, Inc.1,4 | 525,000 | 22,134 |
Inari Medical, Inc.1,4 | 450,000 | 21,798 |
Zentalis Pharmaceuticals, Inc.1,4 | 450,000 | 21,609 |
Ironwood Pharmaceuticals, Inc., Class A1,4 | 2,030,000 | 20,950 |
Hua Medicine1,3 | 22,418,000 | 20,478 |
Alnylam Pharmaceuticals, Inc.1 | 137,700 | 20,395 |
Grifols, SA, Class B (ADR) | 616,400 | 11,243 |
Grifols, SA, Class A, non-registered shares3 | 270,000 | 8,191 |
Nevro Corp.1 | 160,000 | 19,115 |
Chemed Corp. | 42,000 | 18,945 |
Sosei Group Corp.1,3,4 | 1,116,200 | 17,963 |
WIN-Partners Co., Ltd.2,3 | 1,945,600 | 17,464 |
Clinuvel Pharmaceuticals Ltd.3,4 | 941,000 | 16,676 |
Deciphera Pharmaceuticals, Inc.1 | 270,000 | 16,124 |
CELLINK AB, Class B1,3 | 1,249,188 | 16,029 |
SMALLCAP World Fund — Page 5 of 26
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) |
Unity Biotechnology, Inc.1,4 | 1,835,000 | $15,928 |
Medacta Group SA1,3 | 189,515 | 14,997 |
Agios Pharmaceuticals, Inc.1 | 276,600 | 14,793 |
NuCana PLC (ADR)1,2,4 | 2,574,816 | 13,904 |
Livongo Health, Inc.1,4 | 172,700 | 12,985 |
UDG Healthcare PLC3 | 1,350,127 | 11,997 |
Arjo AB, Class B3 | 2,127,400 | 11,815 |
Bachem Holding AG, Class B3 | 40,637 | 10,667 |
Intercept Pharmaceuticals, Inc.1 | 213,137 | 10,211 |
Grail, Inc.1,3,5,6,7 | 1,939,479 | 9,907 |
Rubius Therapeutics, Inc.1,4 | 1,533,396 | 9,170 |
Creo Medical Group PLC1,3 | 3,457,000 | 9,084 |
Amvis Holdings, Inc.1,3,4 | 264,100 | 8,032 |
GN Store Nord AS3 | 93,689 | 4,989 |
Paramount Bed Holdings Co., Ltd.3 | 107,500 | 4,376 |
Bausch Health Companies Inc.1 | 200,000 | 3,658 |
AMEDISYS INC1 | 17,200 | 3,415 |
Neovasc Inc.1,2 | 1,157,102 | 2,754 |
Sage Therapeutics, Inc.1 | 50,900 | 2,116 |
Clovis Oncology, Inc.1,4 | 119,000 | 803 |
NMC Health PLC1,3,5 | 911,693 | 11 |
10,094,266 | ||
Consumer discretionary 16.89% | ||
Evolution Gaming Group AB2,3 | 9,884,330 | 588,685 |
Thor Industries, Inc.2 | 2,893,692 | 308,265 |
Just Eat Takeaway (EUR denominated)1,3 | 2,858,900 | 297,481 |
Ocado Group PLC1,3 | 10,398,813 | 261,052 |
Floor & Decor Holdings, Inc., Class A1 | 4,356,200 | 251,135 |
TopBuild Corp.1,2 | 2,200,400 | 250,339 |
DraftKings Inc., Class A1 | 5,859,012 | 194,871 |
DraftKings Inc., Class A1,3,4,5,7 | 2,004,442 | 52,667 |
YETI Holdings, Inc.1,2 | 5,104,963 | 218,135 |
Dollarama Inc. | 6,015,000 | 200,086 |
Trainline PLC1,2,3 | 36,559,540 | 197,487 |
frontdoor, inc.1 | 4,097,000 | 181,620 |
Strategic Education, Inc.2 | 1,143,475 | 175,695 |
Five Below, Inc.1 | 1,582,402 | 169,175 |
GVC Holdings PLC3 | 17,086,694 | 156,556 |
ASOS PLC1,3 | 3,557,523 | 150,764 |
Helen of Troy Ltd.1 | 787,500 | 148,491 |
Arco Platform Ltd., Class A1 | 3,327,415 | 144,676 |
IDP Education Ltd.3 | 13,381,206 | 143,713 |
Momo.com Inc.3 | 5,687,000 | 138,280 |
MercadoLibre, Inc.1 | 138,700 | 136,726 |
Wyndham Hotels & Resorts, Inc. | 3,183,067 | 135,662 |
Pool Corp. | 478,600 | 130,117 |
Grand Canyon Education, Inc.1 | 1,164,200 | 105,395 |
Bright Horizons Family Solutions Inc.1 | 896,849 | 105,111 |
Shop Apotheke Europe NV, non-registered shares1,2,3,4 | 870,557 | 104,008 |
Domino’s Pizza Group PLC2,3 | 26,342,815 | 101,220 |
Jumbo SA3 | 5,206,161 | 93,874 |
zooplus AG, non-registered shares1,2,3 | 571,544 | 93,709 |
Jiumaojiu International Holdings Ltd.1,3 | 52,948,000 | 92,023 |
KB Home | 2,957,918 | 90,749 |
SMALLCAP World Fund — Page 6 of 26
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) |
Ace Hardware Indonesia Tbk PT1,3 | 855,750,000 | $90,494 |
B2W - Cia. Digital, ordinary nominative1 | 4,372,661 | 86,077 |
Domino’s Pizza, Inc. | 227,600 | 84,085 |
Gentex Corp. | 3,208,134 | 82,674 |
Wayfair Inc., Class A1 | 416,000 | 82,206 |
Moncler SpA1,3 | 2,120,000 | 80,947 |
Vroom, Inc.1,4 | 1,550,000 | 80,817 |
Eldorado Resorts, Inc.1,4 | 1,940,000 | 77,716 |
Sushiro Global Holdings Ltd.3 | 3,450,000 | 75,970 |
BHG Group AB1,2,3,4 | 8,585,837 | 75,490 |
Mercari, Inc.1,3 | 2,312,000 | 71,447 |
Mattel, Inc.1 | 7,000,000 | 67,690 |
Lennar Corp., Class A | 1,058,458 | 65,222 |
Lennar Corp., Class B | 21,169 | 976 |
Williams-Sonoma, Inc. | 800,000 | 65,608 |
Melco International Development Ltd.3 | 30,166,000 | 58,226 |
Cairn Homes PLC2,3 | 57,404,000 | 58,010 |
POYA International Co., Ltd.3 | 2,795,527 | 55,066 |
Etsy, Inc.1 | 516,900 | 54,910 |
Polaris Inc. | 591,000 | 54,697 |
MGM China Holdings, Ltd.3,4 | 41,968,504 | 54,555 |
AcadeMedia AB2,3 | 7,897,375 | 53,340 |
Basic-Fit NV1,3 | 1,963,780 | 51,400 |
China MeiDong Auto Holdings Ltd.3,4 | 20,000,000 | 49,064 |
Nien Made Enterprise Co., Ltd.3 | 4,920,000 | 47,797 |
WH Smith PLC3 | 3,265,000 | 44,331 |
Kindred Group PLC (SDR)3 | 7,232,000 | 43,168 |
MIPS AB3 | 1,195,000 | 41,174 |
Musti Group Oyj1,2,3 | 2,179,804 | 39,354 |
Skechers USA, Inc., Class A1 | 1,250,000 | 39,225 |
NetEnt AB, Class B1,3 | 5,101,880 | 38,919 |
Brunello Cucinelli SpA1,3 | 1,285,352 | 38,145 |
Games Workshop Group PLC3 | 382,000 | 37,904 |
Tube Investments of India Ltd.3 | 6,169,000 | 36,552 |
M.D.C. Holdings, Inc. | 967,528 | 34,541 |
Tongcheng-Elong Holdings Ltd.1,3 | 19,148,200 | 34,528 |
Kontoor Brands, Inc.4 | 1,910,000 | 34,017 |
Flutter Entertainment PLC (GBP denominated)3 | 259,095 | 33,975 |
Cavco Industries, Inc.1 | 170,870 | 32,952 |
Bajaj Electricals Ltd.2,3 | 6,203,607 | 32,372 |
Vail Resorts, Inc. | 172,000 | 31,330 |
Levi Strauss & Co., Class A4 | 2,250,000 | 30,150 |
Six Flags Entertainment Corp. | 1,514,000 | 29,084 |
Freni Brembo SpA1,3 | 3,052,146 | 28,157 |
Century Communities, Inc.1 | 911,000 | 27,931 |
Cie. Plastic Omnium SA3 | 1,348,533 | 27,435 |
D.R. Horton, Inc. | 490,000 | 27,170 |
RH1 | 108,000 | 26,881 |
ServiceMaster Global Holdings, Inc.1 | 670,000 | 23,912 |
Everi Holdings Inc.1,2 | 4,554,606 | 23,502 |
Darden Restaurants, Inc. | 303,300 | 22,981 |
GoCo Group PLC3 | 18,388,760 | 21,951 |
Toll Brothers, Inc. | 635,000 | 20,695 |
Relaxo Footwears Ltd.3 | 2,462,720 | 20,687 |
Gourmet Master Co. Ltd.3 | 5,787,000 | 19,951 |
SMALLCAP World Fund — Page 7 of 26
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) |
TUI AG3,4 | 4,105,156 | $19,502 |
Paltac Corp.3 | 423,800 | 19,434 |
Winnebago Industries, Inc. | 275,820 | 18,375 |
Norwegian Cruise Line Holdings Ltd.1,4 | 1,100,000 | 18,073 |
OneSpaWorld Holdings Ltd.2,4 | 3,615,348 | 17,245 |
Graham Holdings Co., Class B | 50,000 | 17,133 |
Cooper Tire & Rubber Co. | 616,000 | 17,008 |
Vivo Energy PLC3 | 16,890,003 | 16,876 |
Beazer Homes USA, Inc.1,2 | 1,659,813 | 16,714 |
Hilton Grand Vacations Inc.1 | 840,100 | 16,424 |
Salvatore Ferragamo SPA1,3 | 1,126,117 | 15,225 |
Harley-Davidson, Inc. | 592,000 | 14,072 |
Macy’s, Inc.4 | 1,900,000 | 13,072 |
SSP Group PLC3 | 3,961,859 | 12,607 |
Elior Group SA3 | 2,185,000 | 12,429 |
Melco Resorts & Entertainment Ltd. (ADR) | 800,000 | 12,416 |
Zhongsheng Group Holdings Ltd.3 | 2,121,500 | 11,838 |
Thule Group AB3 | 468,600 | 11,815 |
Nordstrom, Inc.4 | 760,000 | 11,772 |
Dalata Hotel Group PLC3 | 3,000,900 | 9,908 |
William Hill PLC3 | 6,394,600 | 9,001 |
Bloomberry Resorts Corp.3 | 57,777,500 | 8,673 |
Del Taco Restaurants, Inc.1 | 1,438,200 | 8,529 |
Eicher Motors Ltd.3 | 32,800 | 8,010 |
Westwing Group AG, non-registered shares1,3 | 952,000 | 8,004 |
Dine Brands Global, Inc. | 180,000 | 7,578 |
Jamna Auto Industries Ltd.3 | 16,912,000 | 7,294 |
Cyrela Brazil Realty SA, ordinary nominative | 1,587,200 | 6,669 |
Ryohin Keikaku Co., Ltd.3 | 463,900 | 6,565 |
Piaggio & C. SpA3 | 2,650,000 | 6,412 |
Lojas Americanas SA, ordinary nominative | 1,232,000 | 6,178 |
Central Automotive Products Ltd.3 | 246,700 | 4,827 |
Chow Sang Sang Holdings International Ltd.3 | 4,227,700 | 4,482 |
Despegar.com, Corp.1 | 565,409 | 4,060 |
Royal Caribbean Cruises Ltd. | 78,017 | 3,924 |
Viomi Technology Co., Ltd. (ADR)1,4 | 375,000 | 1,987 |
Delta Corp Ltd.3 | 1,430,000 | 1,646 |
Samsonite International SA1,3 | 1,350,000 | 1,370 |
China Zenix Auto International Ltd. (ADR)1 | 2,152,000 | 603 |
BNN Technology PLC1,2,3,5 | 19,007,000 | 235 |
8,393,210 | ||
Industrials 13.49% | ||
IMCD NV1,2,3 | 3,315,469 | 311,257 |
Nihon M&A Center Inc.3 | 6,387,180 | 288,518 |
NIBE Industrier AB, Class B1,3 | 11,699,008 | 258,192 |
VAT Group AG3 | 1,221,646 | 222,726 |
BELIMO Holding AG3 | 30,114 | 221,356 |
Meggitt PLC2,3 | 58,758,077 | 213,900 |
MonotaRO Co., Ltd.3 | 4,866,500 | 194,918 |
BWX Technologies, Inc. | 3,292,250 | 186,473 |
Harmonic Drive Systems Inc.3,4 | 3,096,400 | 169,783 |
Spirax-Sarco Engineering PLC3 | 1,264,028 | 156,059 |
Boyd Group Services Inc. | 1,038,771 | 154,614 |
Marel hf. (ISK denominated)3 | 28,431,293 | 144,801 |
SMALLCAP World Fund — Page 8 of 26
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) |
Marel hf. (EUR denominated)3 | 666,667 | $3,450 |
Rexnord Corp. | 4,828,000 | 140,736 |
Stericycle, Inc.1 | 2,403,228 | 134,533 |
Diploma PLC3 | 5,616,000 | 125,313 |
Nolato AB, Class B1,3 | 1,853,691 | 124,818 |
I.M.A. Industria Macchine Automatiche SpA1,3,4 | 1,994,005 | 119,760 |
IDEX Corp. | 752,700 | 118,957 |
Saia, Inc.1 | 1,065,200 | 118,429 |
VARTA AG, non-registered shares1,3,4 | 960,411 | 107,688 |
Sweco AB, Class B, non-registered shares3 | 2,286,000 | 102,542 |
International Container Terminal Services, Inc.3 | 46,495,776 | 96,248 |
Avon Rubber PLC2,3 | 2,387,963 | 95,196 |
Upwork Inc.1,2 | 6,345,736 | 91,632 |
TransDigm Group Inc. | 190,000 | 83,989 |
Japan Airport Terminal Co. Ltd.3 | 1,948,800 | 83,002 |
Masco Corp. | 1,625,000 | 81,591 |
Waste Connections, Inc. | 840,000 | 78,784 |
Bravida Holding AB1,3 | 7,800,414 | 74,447 |
Bingo Industries Ltd.2,3 | 49,082,191 | 73,145 |
Watsco, Inc. | 400,000 | 71,080 |
Wizz Air Holdings PLC1,3 | 1,691,420 | 69,806 |
Japan Elevator Service Holdings Co., Ltd.2,3 | 2,120,927 | 68,093 |
TechnoPro Holdings, Inc.3 | 1,160,900 | 67,212 |
Graco Inc. | 1,374,000 | 65,938 |
Armstrong World Industries, Inc. | 841,796 | 65,626 |
Matson, Inc. | 2,138,000 | 62,216 |
Instalco AB2,3 | 3,967,689 | 61,068 |
Arcosa, Inc. | 1,321,800 | 55,780 |
Oshkosh Corp. | 760,207 | 54,446 |
easyJet PLC3,4 | 6,388,612 | 53,728 |
Rumo SA1 | 12,980,590 | 53,683 |
Lifco AB, Class B3 | 839,000 | 53,056 |
Curtiss-Wright Corp. | 587,500 | 52,452 |
Havells India Ltd.3 | 6,823,478 | 52,412 |
Generac Holdings Inc.1 | 428,600 | 52,259 |
Alfen NV1,2,3 | 1,275,000 | 51,316 |
Aalberts NV, non-registered shares3 | 1,518,000 | 49,693 |
Kratos Defense & Security Solutions, Inc.1 | 3,116,442 | 48,710 |
Kingspan Group PLC3 | 724,000 | 46,593 |
Cleanaway Waste Management Ltd.3 | 30,002,998 | 45,725 |
FTI Consulting, Inc.1 | 394,900 | 45,236 |
Nitto Boseki Co., Ltd.3 | 874,000 | 43,531 |
Melrose Industries PLC3 | 30,830,657 | 43,454 |
Guangzhou Baiyun International Airport Co. Ltd., Class A3 | 19,489,857 | 42,021 |
Aerojet Rocketdyne Holdings, Inc.1 | 1,023,641 | 40,577 |
Granite Construction Inc. | 2,077,000 | 39,754 |
CoStar Group, Inc.1 | 50,000 | 35,533 |
PGT Innovations, Inc.1 | 2,181,973 | 34,213 |
HomeServe PLC3 | 2,096,500 | 33,865 |
AF Poyry, Class B1,3 | 1,553,500 | 33,298 |
TOMRA Systems ASA1,3 | 874,000 | 32,114 |
Ceres Power Holdings PLC1,3 | 4,727,784 | 31,645 |
Barrett Business Services, Inc.2 | 590,000 | 31,347 |
Atlas Corp. | 4,000,000 | 30,400 |
Centre Testing International Group Co., Ltd.3 | 10,761,585 | 30,088 |
SMALLCAP World Fund — Page 9 of 26
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) |
Interpump Group SpA3 | 988,000 | $29,315 |
Addtech AB, Class B3 | 726,759 | 29,171 |
CAE Inc. | 1,750,000 | 28,385 |
Patrick Industries, Inc. | 457,070 | 27,995 |
The AZEK Company Inc., Class A1 | 864,400 | 27,540 |
XP Power Ltd.3 | 583,458 | 25,749 |
Textron Inc. | 780,000 | 25,670 |
ManpowerGroup Inc. | 363,500 | 24,991 |
Air Lease Corp., Class A | 835,600 | 24,475 |
Robert Half International Inc. | 420,000 | 22,189 |
Coor Service Management Holding AB1,3 | 2,994,630 | 19,650 |
BayCurrent Consulting, Inc.3 | 235,700 | 19,600 |
IAA, Inc.1 | 480,000 | 18,514 |
Daifuku Co., Ltd.3 | 209,000 | 18,260 |
Greaves Cotton Ltd.2,3 | 16,200,000 | 17,968 |
Woodward, Inc. | 222,000 | 17,216 |
Trinity Industries, Inc.4 | 796,500 | 16,957 |
Imperial Logistics Ltd.3,4 | 7,386,000 | 16,735 |
Carborundum Universal Ltd.3 | 4,365,000 | 16,090 |
Sakai Moving Service Co., Ltd.3 | 303,500 | 15,448 |
BMC Stock Holdings, Inc.1 | 579,222 | 14,562 |
Indutrade AB1,3 | 360,000 | 14,199 |
Grafton Group PLC, units3 | 1,437,900 | 11,746 |
Troax Group AB3 | 747,300 | 11,709 |
DO & CO AG, non-registered shares3,4 | 217,337 | 11,089 |
Astral Poly Technik Ltd.3 | 847,105 | 10,719 |
Middleby Corp.1 | 109,000 | 8,604 |
Fluor Corp. | 705,000 | 8,516 |
DKSH Holding AG3 | 117,183 | 7,512 |
Vertiv Holdings Co, Class A1 | 551,851 | 7,262 |
JELD-WEN Holding, Inc.1 | 415,000 | 6,686 |
Prosegur Compañía de Seguridad, SA3 | 2,308,705 | 5,368 |
PageGroup PLC3 | 1,015,900 | 4,755 |
Embraer SA, ordinary nominative1 | 3,085,000 | 4,589 |
Kajaria Ceramics Ltd.3 | 815,598 | 4,248 |
Klingelnberg AG3,4 | 165,012 | 2,350 |
Briggs & Stratton Corp.4 | 1,077,815 | 1,412 |
TFI International Inc. | 13,200 | 465 |
6,702,534 | ||
Financials 6.90% | ||
Cannae Holdings, Inc.1,2 | 7,332,537 | 301,367 |
Kotak Mahindra Bank Ltd.3 | 15,277,664 | 275,700 |
Ares Management Corp., Class A | 5,174,776 | 205,439 |
RenaissanceRe Holdings Ltd. | 1,058,600 | 181,052 |
SVB Financial Group1 | 606,500 | 130,719 |
Bajaj Finance Ltd.3 | 3,257,000 | 123,591 |
First Republic Bank | 1,141,825 | 121,022 |
Trupanion, Inc.1,2,4 | 2,795,507 | 119,340 |
East West Bancorp, Inc. | 3,002,577 | 108,813 |
Janus Henderson Group PLC | 5,055,041 | 106,965 |
AJ Bell PLC3 | 20,354,700 | 97,370 |
MarketAxess Holdings Inc. | 177,900 | 89,114 |
Enstar Group Ltd.1 | 519,500 | 79,364 |
Focus Financial Partners Inc., Class A1 | 2,380,700 | 78,682 |
SMALLCAP World Fund — Page 10 of 26
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) |
Seacoast Banking Corp. of Florida1,2 | 3,581,901 | $73,071 |
Aavas Financiers Ltd.1,2,3 | 4,102,706 | 73,015 |
TMX Group Ltd. | 732,941 | 72,468 |
AU Small Finance Bank Ltd.3 | 9,053,034 | 64,606 |
AssetMark Financial Holdings, Inc.1 | 2,250,000 | 61,402 |
South State Corp. | 1,277,631 | 60,892 |
Moelis & Co., Class A | 1,920,234 | 59,834 |
IIFL Wealth Management Ltd.3 | 4,324,454 | 58,718 |
Euronext NV3 | 585,333 | 58,619 |
Capitec Bank Holdings Ltd.3 | 1,123,983 | 55,594 |
Bolsa Mexicana de Valores, SAB de CV, Series A | 28,956,645 | 54,198 |
City Union Bank Ltd.3 | 29,992,215 | 48,459 |
eGuarantee, Inc.3 | 2,036,600 | 48,097 |
Clarivate PLC1 | 1,978,797 | 44,187 |
Eurobank Ergasias Services and Holdings SA1,3 | 89,439,733 | 41,289 |
The Bank of N.T. Butterfield & Son Ltd. | 1,550,000 | 37,805 |
VZ Holding AG3 | 465,000 | 34,722 |
Indian Energy Exchange Ltd.3 | 14,190,655 | 33,831 |
Uzabase, Inc.1,3 | 1,499,300 | 30,735 |
Waddell & Reed Financial, Inc., Class A | 1,850,000 | 28,694 |
Fanhua Inc. (ADR)4 | 1,234,942 | 24,711 |
Webster Financial Corp. | 851,600 | 24,364 |
CIT Group Inc. | 1,169,777 | 24,249 |
HDFC Asset Management Co., Ltd.3 | 702,364 | 23,144 |
Artisan Partners Asset Management Inc., Class A | 705,000 | 22,913 |
Essent Group Ltd. | 537,000 | 19,477 |
Umpqua Holdings Corp. | 1,785,500 | 18,998 |
Hiscox Ltd.3 | 1,594,866 | 15,568 |
Close Brothers Group PLC3 | 1,131,900 | 15,479 |
TCS Group Holding PLC (GDR)3 | 722,736 | 14,650 |
TCS Group Holding PLC (GDR)3,7 | 31,700 | 643 |
L&T Finance Holdings Ltd.3 | 17,200,000 | 15,027 |
Hilltop Holdings Inc. | 750,000 | 13,838 |
Boston Private Financial Holdings, Inc. | 1,978,177 | 13,610 |
Kinsale Capital Group, Inc. | 87,020 | 13,506 |
Sabre Insurance Group PLC3 | 4,096,502 | 13,387 |
Greenhill & Co., Inc.2 | 1,169,700 | 11,685 |
Moscow Exchange MICEX-RTS PJSC3 | 7,180,802 | 11,418 |
Nova Ljubljanska banka dd (GDR)1,3 | 1,253,700 | 10,873 |
Cowen Inc., Class A | 640,000 | 10,374 |
Affiliated Managers Group, Inc. | 118,000 | 8,798 |
NMI Holdings, Inc.1 | 506,000 | 8,136 |
Huize Holding Ltd. (ADR)1,4 | 826,780 | 6,126 |
Discovery Ltd.3 | 899,883 | 5,418 |
Funding Circle Holdings PLC1,3 | 5,986,000 | 5,072 |
Victory Capital Holdings, Inc., Class A | 252,392 | 4,339 |
MJ Hudson Group PLC1,3 | 8,173,500 | 4,254 |
AURELIUS Equity Opportunities SE & Co. KGaA, non-registered shares3,4 | 250,000 | 4,119 |
Radian Group Inc. | 245,000 | 3,800 |
3,426,750 | ||
Consumer staples 3.59% | ||
Emmi AG2,3 | 317,072 | 276,472 |
Grocery Outlet Holding Corp.1,2 | 5,059,382 | 206,423 |
Raia Drogasil SA, ordinary nominative | 7,904,292 | 160,786 |
SMALLCAP World Fund — Page 11 of 26
unaudited
Common stocks (continued) Consumer staples (continued) | Shares | Value (000) |
Jonjee Hi-Tech Industrial And Commercial Holding Co., Ltd., Class A3 | 15,721,895 | $130,612 |
Simply Good Foods Co., Class A1,2 | 6,651,000 | 123,576 |
Freshpet, Inc.1 | 1,179,959 | 98,715 |
Varun Beverages Ltd.3 | 9,227,320 | 83,560 |
COSMOS Pharmaceutical Corp.3 | 433,806 | 66,486 |
Milbon Co., Ltd.3 | 1,015,000 | 48,364 |
Lion Corp.3 | 1,983,000 | 47,542 |
Hilton Food Group PLC3 | 2,712,967 | 42,446 |
Cranswick PLC3 | 831,700 | 37,252 |
Davide Campari-Milano SpA3 | 4,200,000 | 35,347 |
Fresh Del Monte Produce Inc. | 1,359,700 | 33,476 |
AAK AB1,3 | 1,927,200 | 33,077 |
Bakkafrost P/F1,3 | 517,500 | 32,598 |
Chengdu Hongqi Chain Co., Ltd.3 | 20,457,881 | 31,699 |
Hotel Chocolat Group plc2,3,4 | 7,486,000 | 28,938 |
Vector Group Ltd. | 2,813,000 | 28,299 |
Chongqing Fuling Zhacai Group Co., Ltd., Class A3 | 5,529,403 | 28,045 |
Kotobuki Spirits Co., Ltd.3 | 665,000 | 27,253 |
Bid Corp. Ltd.3 | 1,640,857 | 26,798 |
Treasury Wine Estates Ltd.3 | 3,351,080 | 24,259 |
Emperador Inc.3 | 135,870,000 | 22,440 |
Bellring Brands, Inc., Class A1 | 1,000,000 | 19,940 |
Kernel Holding SA3 | 1,642,578 | 17,308 |
United Spirits Ltd.1,3 | 1,879,194 | 14,808 |
Avenue Supermarts Ltd.1,3 | 417,313 | 12,706 |
Nomad Foods Ltd.1 | 500,000 | 10,725 |
Beyond Meat, Inc.1 | 73,395 | 9,833 |
PZ Cussons PLC3,4 | 4,096,400 | 9,403 |
Masan Group Corp.1,3 | 3,452,230 | 8,050 |
Century Pacific Food, Inc.3 | 25,901,000 | 7,588 |
1,784,824 | ||
Communication services 3.22% | ||
Bandwidth Inc., Class A1 | 1,676,239 | 212,882 |
Iridium Communications Inc.1,2 | 7,201,932 | 183,217 |
Iridium Communications Inc.1,2,7 | 636,132 | 16,183 |
New York Times Co., Class A | 3,865,100 | 162,450 |
Altice Europe NV, Class A1,3 | 27,179,700 | 104,648 |
HUYA, Inc. (ADR)1 | 5,370,616 | 100,269 |
JCDecaux SA1,3 | 4,268,000 | 79,272 |
Yandex NV, Class A1 | 1,530,000 | 76,531 |
Zee Entertainment Enterprises Ltd.3 | 22,962,874 | 51,922 |
JOYY Inc., Class A (ADR)1 | 562,000 | 49,765 |
Cable One, Inc. | 25,321 | 44,941 |
Capcom Co., Ltd.3 | 1,218,000 | 44,206 |
ITV PLC3 | 44,774,264 | 41,374 |
Codemasters Group Holdings PLC1,3 | 7,560,000 | 31,838 |
Zillow Group, Inc., Class C, nonvoting shares1 | 525,000 | 30,245 |
CarGurus, Inc., Class A1 | 1,177,827 | 29,858 |
World Wrestling Entertainment, Inc., Class A | 672,000 | 29,198 |
DIP Corp.3 | 1,298,800 | 26,185 |
Madison Square Garden Entertainment Corp., Class A1 | 344,915 | 25,869 |
Kamakura Shinsho, Ltd.2,3,4 | 2,297,900 | 23,950 |
Square Enix Holdings Co., Ltd.3 | 444,300 | 22,408 |
Masmovil Ibercom, SA1,3 | 860,000 | 21,917 |
SMALLCAP World Fund — Page 12 of 26
unaudited
Common stocks (continued) Communication services (continued) | Shares | Value (000) |
Adevinta ASA1,3 | 2,143,841 | $21,607 |
ProSiebenSat.1 Media SE1,3,4 | 1,799,000 | 21,387 |
Madison Square Garden Sports Corp., Class A1 | 144,915 | 21,287 |
GCI Liberty, Inc., Class A1 | 285,400 | 20,298 |
Nordic Entertainment Group AB, Class B3 | 658,002 | 20,102 |
VGI PCL, foreign registered3 | 81,538,000 | 19,822 |
Bharti Infratel Ltd.3 | 5,797,028 | 17,026 |
The Pebble Group PLC1,2,3 | 11,259,000 | 14,644 |
Yelp Inc.1 | 585,000 | 13,531 |
Euskaltel, SA, non-registered shares3 | 1,330,000 | 11,833 |
IMAX China Holding, Inc.3 | 4,063,700 | 5,883 |
Zegona Communications PLC3 | 3,300,304 | 4,662 |
1,601,210 | ||
Real estate 1.71% | ||
Embassy Office Parks REIT3 | 31,780,000 | 143,463 |
Altus Group Ltd.2 | 3,235,061 | 97,200 |
WHA Corp. PCL2,3 | 893,252,324 | 96,022 |
JHSF Participações SA2 | 40,035,711 | 52,271 |
Digital Realty Trust, Inc. REIT | 346,283 | 49,210 |
MGM Growth Properties LLC REIT, Class A | 1,767,000 | 48,080 |
Concentradora Fibra Danhos, SA de CV REIT | 40,658,168 | 38,634 |
DoubleDragon Properties Corp.1,3 | 92,610,000 | 31,820 |
Poly Property Development Co., Ltd., Class H3,4 | 3,070,600 | 30,944 |
K-Fast Holding AB, Class B1,3 | 1,133,615 | 30,665 |
China Overseas Property Holdings Ltd.3 | 24,574,000 | 25,973 |
Cyrela Commercial Properties SA, ordinary nominative2 | 8,557,663 | 23,872 |
Hibernia REIT PLC3 | 16,260,000 | 20,453 |
Samhallsbyggnadsbolaget i Norden AB, Class B3 | 7,264,000 | 18,511 |
Redwood Trust, Inc. REIT | 2,562,000 | 17,934 |
Mitre Realty Empreendimentos E Participações SA1,2 | 6,168,863 | 17,356 |
Cousins Properties Inc. REIT | 489,353 | 14,597 |
Central Pattana PCL, foreign registered3 | 9,042,800 | 14,466 |
K. Wah International Holdings Ltd.3 | 30,270,028 | 13,115 |
Genova Property Group AB1 | 1,384,600 | 9,658 |
Metrovacesa, SA, non-registered shares1,3 | 1,350,000 | 9,287 |
Pebblebrook Hotel Trust (REIT) | 633,400 | 8,652 |
Foxtons Group PLC2,3 | 17,881,785 | 8,523 |
Park Hotels & Resorts Inc. REIT | 861,300 | 8,518 |
Americold Realty Trust REIT | 217,800 | 7,906 |
Instone Real Estate Group AG, non-registered shares1,3 | 237,771 | 5,153 |
BR Properties SA, ordinary nominative | 2,438,200 | 3,999 |
Morguard Corp. | 23,400 | 2,193 |
848,475 | ||
Materials 1.69% | ||
Valvoline Inc. | 3,947,000 | 76,295 |
Navin Fluorine International Ltd.2,3 | 3,485,500 | 75,101 |
CCL Industries Inc., Class B, nonvoting shares | 1,928,200 | 62,323 |
JCU Corp.2,3 | 1,920,300 | 59,875 |
Lundin Mining Corp. | 8,886,000 | 47,650 |
SIG Combibloc Group AG3 | 2,600,000 | 42,021 |
Royal Gold, Inc. | 338,000 | 42,020 |
LANXESS AG1,3 | 705,240 | 37,071 |
Axalta Coating Systems Ltd.1 | 1,399,600 | 31,561 |
SMALLCAP World Fund — Page 13 of 26
unaudited
Common stocks (continued) Materials (continued) | Shares | Value (000) |
PI Industries Ltd.3 | 1,362,000 | $26,887 |
Symrise AG3 | 227,500 | 26,394 |
Vidrala, SA, non-registered shares3 | 255,558 | 24,357 |
Arkema SA3 | 212,100 | 20,255 |
Essel Propack Ltd.3 | 8,419,273 | 20,136 |
Croda International PLC3 | 303,595 | 19,753 |
Allegheny Technologies Inc.1 | 1,834,358 | 18,692 |
Huntsman Corp. | 1,030,000 | 18,509 |
W. R. Grace & Co. | 348,000 | 17,682 |
Berger Paints India Ltd.3 | 2,500,993 | 16,466 |
Gulf Oil Lubricants India Ltd.3 | 2,038,914 | 15,394 |
Aluflexpack AG1,3 | 763,461 | 15,382 |
Kansai Nerolac Paints Ltd.3 | 2,581,958 | 15,261 |
Loma Negra Compania Industrial Argentina SA (ADR)1 | 3,556,000 | 15,149 |
Sandstorm Gold Ltd.1 | 1,361,300 | 13,096 |
Vinati Organics Ltd.3 | 928,972 | 11,915 |
Alcoa Corp.1 | 910,000 | 10,228 |
Wienerberger AG1,3 | 425,700 | 9,263 |
UPL Ltd.1,3 | 1,449,317 | 8,185 |
Venator Materials PLC1 | 4,450,602 | 7,967 |
China BlueChemical Ltd., Class H3 | 48,476,000 | 7,244 |
Borregaard ASA3 | 629,000 | 6,684 |
Nevada Copper Corp.1,2,4 | 46,345,500 | 6,486 |
Excelsior Mining Corp.1,2,4 | 12,868,000 | 6,256 |
Gerdau SA (ADR)4 | 2,011,500 | 5,954 |
Aarti Surfactants Ltd.1,3,5 | 64,380 | 105 |
837,617 | ||
Energy 0.73% | ||
Petronet LNG Ltd.3 | 13,984,650 | 47,990 |
Noble Energy, Inc. | 4,915,000 | 44,038 |
Worley Ltd.3,4 | 5,701,172 | 34,543 |
Apache Corp. | 2,478,500 | 33,460 |
Parsley Energy, Inc., Class A | 2,885,000 | 30,812 |
New Fortress Energy LLC, Class A1,4 | 2,364,221 | 30,640 |
Cactus, Inc., Class A | 1,249,900 | 25,785 |
Saipem SpA, Class S3 | 8,567,000 | 21,326 |
Venture Global LNG, Inc., Series C1,3,5,6,7 | 4,240 | 16,108 |
Magnolia Oil & Gas Corp., Class A1 | 2,000,000 | 12,120 |
Equitrans Midstream Corp. | 1,125,800 | 9,355 |
NuVista Energy Ltd.1,2,4 | 15,965,000 | 9,055 |
SM Energy Co. | 2,368,000 | 8,880 |
Rattler Midstream LP | 773,144 | 7,500 |
Solaris Oilfield Infrastructure, Inc., Class A | 891,761 | 6,617 |
Concho Resources Inc. | 128,000 | 6,592 |
Savannah Energy PLC1,2,3 | 64,599,102 | 5,941 |
Cosan Ltd., Class A | 361,000 | 5,437 |
Nine Energy Service, Inc.1,4 | 1,200,000 | 2,340 |
Diamondback Energy, Inc. | 50,000 | 2,091 |
Centennial Resource Development, Inc., Class A1,4 | 621,700 | 553 |
361,183 |
SMALLCAP World Fund — Page 14 of 26
unaudited
Common stocks (continued) Utilities 0.23% | Shares | Value (000) |
Neoenergia SA | 20,443,000 | $71,876 |
ENN Energy Holdings Ltd.3 | 3,825,000 | 42,959 |
Mytrah Energy Ltd.1,2,3,5 | 10,418,000 | 129 |
114,964 | ||
Total common stocks (cost: $28,700,863,000) | 46,285,483 | |
Preferred securities 0.89% Information technology 0.45% | ||
Avidxchange, Inc., Series F, preferred shares1,2,3,5,6 | 2,159,548 | 105,844 |
Marqeta, Inc., Series E-1, 8.00% noncumulative, preferred shares1,3,5,6 | 9,415,404 | 78,500 |
Credo Technology Group Holding, Ltd., Series D, 8.00% noncumulative, preferred shares1,3,5,6 | 4,005,527 | 20,000 |
Gitlab Inc., Series E, preferred shares1,3,5,6 | 1,044,048 | 19,450 |
223,794 | ||
Health care 0.29% | ||
Sartorius AG, nonvoting preferred, non-registered shares3 | 395,000 | 129,768 |
PACT Pharma, Inc., Series C, 8.00% noncumulative, preferred shares1,3,5,6 | 4,397,107 | 12,346 |
142,114 | ||
Consumer discretionary 0.09% | ||
Made.com Design Ltd., Series C-4, preferred shares1,2,3,5,6 | 2,067,967 | 41,998 |
Industrials 0.06% | ||
Azul SA, preferred nominative (ADR)1,4 | 2,588,057 | 28,935 |
Azul SA, preferred nominative1 | 771,000 | 2,851 |
31,786 | ||
Total preferred securities (cost: $336,438,000) | 439,692 | |
Rights & warrants 0.00% Information technology 0.00% | ||
Foursquare Labs, Inc., warrants, expire 20331,3,5,6 | 1,163,990 | 587 |
Communication services 0.00% | ||
VGI PCL, warrants, expire 20221 | 14,545,500 | 367 |
Consumer discretionary 0.00% | ||
DraftKings Inc., warrants, expire 20251 | 12,171 | 186 |
Health care 0.00% | ||
Neovasc Inc., warrants, expires 20251,2,3 | 138,000 | 66 |
Total rights & warrants (cost: $79,000) | 1,206 | |
Convertible stocks 0.16% Communication services 0.07% | ||
Nextdoor Inc., Series H, convertible preferred shares3,5,6 | 1,512,513 | 35,786 |
SMALLCAP World Fund — Page 15 of 26
unaudited
Convertible stocks (continued) Consumer discretionary 0.06% | Shares | Value (000) |
Coursera, Inc., Series E, 8.00% noncumulative, convertible preferred shares3,5,6 | 2,083,333 | $26,312 |
Coursera, Inc., Series C, 8.00% noncumulative, convertible preferred shares3,5,6 | 450,000 | 5,684 |
Information technology 0.03% | ||
RealSelf, Inc., Series C, convertible preferred shares2,3,5,6 | 3,468,862 | 14,084 |
Health care 0.00% | ||
Proteus Digital Health, Inc., Series G, 6.50% noncumulative, convertible preferred shares3,5,6 | 3,044,139 | —8 |
Total convertible stocks (cost: $120,233,000) | 81,866 | |
Bonds, notes & other debt instruments 0.01% Corporate bonds & notes 0.01% Energy 0.01% | Principal amount (000) | |
Weatherford International PLC 11.00% 20247 | $5,093 | 3,565 |
Total corporate bonds & notes | 3,565 | |
Total bonds, notes & other debt instruments (cost: $5,026,000) | 3,565 | |
Short-term securities 7.07% Money market investments 7.07% | Shares | |
Capital Group Central Cash Fund 0.18%9 | 29,127,066 | 2,912,998 |
Goldman Sachs Financial Square Government Fund 0.15%9,10 | 310,000,000 | 310,000 |
BlackRock FedFund 0.10%9,10 | 120,000,000 | 120,000 |
State Street Institutional U.S. Government Money Market Fund 0.12%9,10 | 45,000,000 | 45,000 |
RBC U.S. Government Money Market Fund 0.10%9,10 | 44,500,000 | 44,500 |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio 0.05%9,10 | 43,430,000 | 43,430 |
Invesco Short-Term Investments Trust - Government & Agency Portfolio 0.09%9,10 | 34,961,999 | 34,962 |
Fidelity Institutional Money Market Funds - Government Portfolio 0.06%9,10 | 500,000 | 500 |
3,511,390 | ||
Total short-term securities (cost: $3,510,880,000) | 3,511,390 | |
Total investment securities 101.30% (cost: $32,673,519,000) | 50,323,202 | |
Other assets less liabilities (1.30)% | (644,077) | |
Net assets 100.00% | $49,679,125 |
SMALLCAP World Fund — Page 16 of 26
unaudited
Investments in affiliates
A company is an affiliate of the fund under the Investment Company Act of 1940 if the fund’s holdings represent 5% or more of the outstanding voting shares of that company. Further details on these holdings and related transactions during the nine months ended June 30, 2020, appear below.
Beginning shares | Additions | Reductions | Ending shares | Net realized (loss) gain (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 6/30/2020 (000) | |
Common stocks 22.17% | ||||||||
Information technology 4.88% | ||||||||
Cree, Inc.1 | 4,484,130 | 1,073,250 | 84,442 | 5,472,938 | $(580) | $59,067 | $— | $323,943 |
SimCorp AS3 | 2,199,151 | 150,000 | 189,701 | 2,159,450 | (923) | 42,875 | 2,530 | 232,654 |
Net One Systems Co., Ltd.3 | 5,194,958 | 1,685,000 | — | 6,879,958 | — | 58,188 | 1,532 | 229,397 |
Netcompany Group AS, non-registered shares1,3 | 3,199,913 | 225,000 | 145,076 | 3,279,837 | 341 | 82,962 | — | 215,004 |
Alarm.Com Holdings, Inc.1 | 2,520,700 | 687,300 | — | 3,208,000 | — | 61,468 | — | 207,911 |
Network International Holdings PLC1,3 | 34,351,542 | 2,961,621 | 5,007,000 | 32,306,163 | (12,355) | (33,881) | — | 176,286 |
Bottomline Technologies, Inc.1 | 2,648,000 | 564,000 | — | 3,212,000 | — | 36,559 | — | 163,073 |
CANCOM SE, non-registered shares1,3 | 1,989,634 | 1,012,931 | 123,759 | 2,878,806 | (1,056) | (3,953) | — | 152,514 |
Carel Industries SpA3 | 7,820,849 | 179,151 | — | 8,000,000 | — | 28,251 | 1,074 | 146,748 |
Yext, Inc.1 | 8,661,274 | — | — | 8,661,274 | — | 6,236 | — | 143,864 |
Fortnox AB3 | 4,550,903 | 646,459 | 414,616 | 4,782,746 | (805) | 49,199 | 241 | 130,766 |
SHIFT Inc.1,3,4 | — | 1,024,000 | — | 1,024,000 | — | 40,445 | — | 104,099 |
Megaport Ltd.1,3,11 | 10,773,000 | 4,397,000 | 3,130,000 | 12,040,000 | 3,797 | 25,160 | — | 100,600 |
eMemory Technology Inc.3 | 4,024,334 | — | — | 4,024,334 | — | 23,644 | 955 | 66,132 |
LPKF Laser & Electronics AG, non-registered shares3 | — | 1,400,000 | — | 1,400,000 | — | (959) | — | 30,258 |
Douzone Bizon Co., Ltd.3,11 | 2,015,058 | — | 621,200 | 1,393,858 | 20,787 | 35,021 | 815 | — |
Endurance International Group Holdings, Inc.1,11 | 9,707,399 | — | 9,707,399 | — | (53,649) | 43,553 | — | — |
SUNeVision Holdings Ltd.3,11 | 128,214,000 | — | 54,260,000 | 73,954,000 | (1,024) | (2,473) | 2,685 | — |
Bravura Solutions Ltd.3,11 | 19,125,000 | — | 19,125,000 | — | 21,512 | (16,066) | 686 | — |
Faraday Technology Corp.3,11 | 15,370,000 | — | 15,370,000 | — | (7,411) | 285 | — | — |
Smartsheet Inc., Class A1,11 | 3,905,000 | 2,444,800 | 517,500 | 5,832,300 | (1,427) | 80,006 | — | — |
Humanica PCL11 | 44,000,400 | — | 44,000,400 | — | (3,843) | 3,222 | — | — |
Jenoptik AG3,11 | 4,561,200 | — | 4,561,200 | — | (52,620) | 48,649 | — | — |
Accesso Technology Group PLC1,3,11 | 2,185,500 | 25,925 | 2,211,425 | — | (19,277) | 519 | — | — |
Sansan, Inc.1,3,11 | 1,596,800 | — | 1,596,800 | — | (6,938) | 10,616 | — | — |
Cardtronics PLC, Class A1,11 | 1,275,000 | 1,027,000 | 700,000 | 1,602,000 | (14,172) | (12,027) | — | — |
Tri Chemical Laboratories Inc.3,11 | — | 440,200 | 440,200 | — | 1,407 | — | 234 | — |
2,423,249 | ||||||||
Health care 6.67% | ||||||||
Insulet Corp.1 | 4,456,019 | — | 969,018 | 3,487,001 | 98,426 | 23,452 | — | 677,385 |
Cansino Biologics Inc., Class H1,3,11 | 10,370,800 | 451,004 | 270,400 | 10,551,404 | 6,655 | 241,319 | — | 291,714 |
Haemonetics Corp.1 | 1,974,000 | 1,269,450 | — | 3,243,450 | — | (89,333) | — | 290,483 |
Allakos Inc.1,4,11 | 3,859,959 | 32,974 | 90,400 | 3,802,533 | (740) | (25,130) | — | 273,250 |
GW Pharmaceuticals PLC (ADR)1,4 | 1,915,345 | 359,800 | 411,055 | 1,864,090 | (11,910) | 23,220 | — | 228,761 |
Mani, Inc.3 | 4,889,800 | 1,940,582 | — | 6,830,382 | — | 6,887 | 628 | 180,228 |
GVS SpA1,3 | — | 11,404,178 | — | 11,404,178 | — | 23,294 | — | 132,610 |
Fagron NV3 | 2,630,255 | 2,848,071 | — | 5,478,326 | — | 1,453 | 419 | 115,134 |
Cortexyme, Inc.1,4 | 512,157 | 1,841,225 | — | 2,353,382 | — | 69,665 | — | 108,962 |
SMALLCAP World Fund — Page 17 of 26
unaudited
Investments in affiliates (continued)
Beginning shares | Additions | Reductions | Ending shares | Net realized (loss) gain (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 6/30/2020 (000) | |
Cortexyme, Inc.1,11 | — | 76,528 | 76,528 | — | $— | $— | $— | $— |
Cortexyme, Inc.1,3,7,11 | 1,560,515 | — | 1,560,515 | — | — | (23,126) | — | — |
Silk Road Medical, Inc.1 | — | 2,483,600 | — | 2,483,600 | — | (631) | — | 104,038 |
Adaptimmune Therapeutics PLC (ADR)1 | 7,419,700 | 1,904,200 | — | 9,323,900 | — | 74,350 | — | 93,332 |
Revance Therapeutics, Inc.1 | 2,010,000 | 1,281,900 | — | 3,291,900 | — | 34,321 | — | 80,388 |
New Frontier Health Corp., Class A1,7 | — | 9,313,186 | — | 9,313,186 | — | (16,019) | — | 77,113 |
Metropolis Healthcare Ltd.3 | 2,809,350 | 1,282,970 | 96,374 | 3,995,946 | 1,151 | 3,204 | 315 | 72,149 |
Health Catalyst, Inc.1,4 | 596,200 | 1,775,100 | — | 2,371,300 | — | 3,889 | — | 69,171 |
Autolus Therapeutics PLC (ADR)1,4 | 2,377,718 | 1,800,776 | — | 4,178,494 | — | 17,226 | — | 66,981 |
Applied Molecular Transport Inc.1,4 | — | 2,494,418 | — | 2,494,418 | — | 24,677 | — | 62,710 |
Cellectis SA (ADR)1 | 1,529,736 | 684,600 | — | 2,214,336 | — | 12,665 | — | 39,415 |
Cellectis SA, non-registered shares1,3 | 1,181,240 | — | — | 1,181,240 | — | 8,906 | — | 21,060 |
CryoLife, Inc.1 | 1,125,904 | 1,544,010 | — | 2,669,914 | — | (21,055) | — | 51,182 |
Flexion Therapeutics, Inc.1 | 2,510,700 | 1,312,300 | — | 3,823,000 | — | 3,040 | — | 50,272 |
CellaVision AB, non-registered shares1,3 | 1,221,000 | 329,300 | — | 1,550,300 | — | (11,552) | — | 46,713 |
Revenio Group Oyj, non-registered shares3 | 1,713,820 | — | 313,301 | 1,400,519 | 1,618 | 14,024 | 475 | 44,239 |
Pacific Biosciences of California, Inc.1 | — | 12,242,300 | — | 12,242,300 | — | (15,189) | — | 42,236 |
Precision BioSciences, Inc.1,4 | 625,000 | 3,437,000 | — | 4,062,000 | — | (17,954) | — | 33,836 |
Xenon Pharmaceuticals Inc.1,4 | 2,019,226 | — | — | 2,019,226 | — | 7,128 | — | 25,321 |
WIN-Partners Co., Ltd.3 | 1,817,600 | 128,000 | — | 1,945,600 | — | (2,750) | 592 | 17,464 |
NuCana PLC (ADR)1,4 | 2,574,816 | — | — | 2,574,816 | — | (4,738) | — | 13,904 |
Neovasc Inc.1 | 577,857 | 579,245 | — | 1,157,102 | — | (1,081) | — | 2,754 |
Neovasc Inc. (CAD denominated)1,11 | — | — | — | — | — | — | — | — |
CONMED Corp.11 | 2,258,462 | — | 1,805,462 | 453,000 | 42,390 | (76,074) | 752 | — |
Diplomat Pharmacy, Inc.1,11 | 4,334,441 | — | 4,334,441 | — | (69,631) | 64,784 | — | — |
Natera, Inc.1,11 | 4,770,580 | — | 2,744,580 | 2,026,000 | 8,702 | 7,913 | — | — |
Nakanishi Inc.3,11 | 5,332,700 | — | 1,276,200 | 4,056,500 | (5,401) | (6,082) | 1,361 | — |
iRhythm Technologies, Inc.1,11 | 1,456,450 | 250,618 | 626,500 | 1,080,568 | 27,077 | 26,542 | — | — |
Osstem Implant Co., Ltd.1,11 | 1,134,274 | — | 1,134,274 | — | (29,371) | 23,985 | — | — |
Clovis Oncology, Inc.1,4,11 | 3,562,000 | — | 3,443,000 | 119,000 | (61,765) | 63,976 | — | — |
Neuronetics, Inc.1,11 | 1,464,300 | — | 1,464,300 | — | (24,130) | 17,580 | — | — |
Rubius Therapeutics, Inc.1,4,11 | 3,478,792 | 2,824,000 | 4,769,396 | 1,533,396 | (55,612) | 36,372 | — | — |
Corindus Vascular Robotics, Inc.1,11 | 10,872,716 | — | 10,872,716 | — | 31,399 | (31,535) | — | — |
3,312,805 | ||||||||
Consumer discretionary 4.74% | ||||||||
Evolution Gaming Group AB3 | 8,937,960 | 3,336,883 | 2,390,513 | 9,884,330 | 41,002 | 374,456 | 4,665 | 588,685 |
Thor Industries, Inc. | 1,170,000 | 1,723,692 | — | 2,893,692 | — | 135,855 | 3,656 | 308,265 |
TopBuild Corp.1 | 1,783,600 | 632,800 | 216,000 | 2,200,400 | 15,566 | 20,208 | — | 250,339 |
YETI Holdings, Inc.1 | 1,152,200 | 3,952,763 | — | 5,104,963 | — | 70,814 | — | 218,135 |
Trainline PLC1,3,11 | 33,352,068 | 10,357,372 | 7,149,900 | 36,559,540 | (2,687) | 8,829 | — | 197,487 |
SMALLCAP World Fund — Page 18 of 26
unaudited
Investments in affiliates (continued)
Beginning shares | Additions | Reductions | Ending shares | Net realized (loss) gain (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 6/30/2020 (000) | |
Strategic Education, Inc. | 864,000 | 279,475 | — | 1,143,475 | $— | $12,606 | $1,693 | $175,695 |
Shop Apotheke Europe NV, non-registered shares1,3,4 | 804,857 | 65,700 | — | 870,557 | — | 68,469 | — | 104,008 |
Domino’s Pizza Group PLC3 | 27,307,815 | 3,035,000 | 4,000,000 | 26,342,815 | (2,705) | 24,241 | — | 101,220 |
zooplus AG, non-registered shares1,3 | 505,688 | 65,856 | — | 571,544 | — | 25,620 | — | 93,709 |
BHG Group AB1,3,4,12 | 2,980,102 | 5,605,735 | — | 8,585,837 | — | 26,661 | — | 75,490 |
Cairn Homes PLC3 | 13,905,000 | 55,753,487 | 12,254,487 | 57,404,000 | (3,699) | (6,451) | — | 58,010 |
AcadeMedia AB3 | 4,955,083 | 2,942,292 | — | 7,897,375 | — | 16,961 | 1,000 | 53,340 |
Musti Group Oyj1,3 | — | 2,179,804 | — | 2,179,804 | — | 17,735 | — | 39,354 |
Bajaj Electricals Ltd.3 | — | 6,203,607 | — | 6,203,607 | — | 2,410 | — | 32,372 |
Everi Holdings Inc.1 | 1,100,000 | 3,454,606 | — | 4,554,606 | — | 3,119 | — | 23,502 |
OneSpaWorld Holdings Ltd.4 | — | 3,615,348 | — | 3,615,348 | — | (21,567) | — | 17,245 |
Beazer Homes USA, Inc.1 | 1,659,813 | — | — | 1,659,813 | — | (8,017) | — | 16,714 |
BNN Technology PLC1,3,5 | 19,007,000 | — | — | 19,007,000 | — | (783) | — | 235 |
Lands’ End, Inc.1,11 | 2,200,000 | 25,000 | 2,225,000 | — | (47,323) | 37,600 | — | — |
Dine Brands Global, Inc.11 | 615,599 | 240,000 | 675,599 | 180,000 | (25,686) | (6,619) | 967 | — |
Hostelworld Group PLC11 | 6,518,763 | — | 6,518,763 | — | (8,602) | 8,044 | — | — |
MIPS AB3,11 | 1,396,751 | — | 201,751 | 1,195,000 | 2,702 | 19,751 | 365 | — |
Delta Corp Ltd.3,11 | 14,022,238 | 3,700,000 | 16,292,238 | 1,430,000 | (43,303) | 22,517 | 304 | — |
frontdoor, inc.1,11 | 4,379,000 | 593,000 | 875,000 | 4,097,000 | (8,522) | (19,130) | — | — |
Del Taco Restaurants, Inc.1,11 | 2,939,200 | — | 1,501,000 | 1,438,200 | (6,092) | (3,777) | — | — |
Hoteles City Express, SAB de CV1,11 | 22,037,148 | — | 22,037,148 | — | (9,896) | 6,071 | — | — |
Party City Holdco Inc.1,11 | 7,489,459 | — | 7,489,459 | — | (56,244) | 32,601 | — | — |
Luckin Coffee Inc., Class A (ADR)1,11 | 4,835,924 | 244,800 | 5,080,724 | — | (65,270) | 3,930 | — | — |
Tile Shop Holdings, Inc.11 | 3,158,000 | — | 3,158,000 | — | (20,659) | — | — | — |
2,353,805 | ||||||||
Industrials 2.04% | ||||||||
IMCD NV1,3 | 3,332,269 | 65,200 | 82,000 | 3,315,469 | 1,123 | 65,597 | — | 311,257 |
Meggitt PLC3 | 16,366,734 | 42,391,343 | — | 58,758,077 | — | (95,764) | — | 213,900 |
Avon Rubber PLC3 | 2,481,863 | — | 93,900 | 2,387,963 | 1,105 | 46,301 | 430 | 95,196 |
Upwork Inc.1 | 2,796,036 | 3,991,700 | 442,000 | 6,345,736 | (2,774) | 24,080 | — | 91,632 |
Bingo Industries Ltd.3 | 37,574,800 | 11,507,391 | — | 49,082,191 | — | 1,806 | 545 | 73,145 |
Japan Elevator Service Holdings Co., Ltd.3 | 416,400 | 1,704,527 | — | 2,120,927 | — | 21,396 | 341 | 68,093 |
Instalco AB3 | 3,831,789 | 135,900 | — | 3,967,689 | — | 19,825 | 898 | 61,068 |
Alfen NV1,3 | 1,275,000 | — | — | 1,275,000 | — | 33,472 | — | 51,316 |
Barrett Business Services, Inc. | 590,000 | — | — | 590,000 | — | (21,057) | 531 | 31,347 |
Greaves Cotton Ltd.3 | 16,200,000 | — | — | 16,200,000 | — | (15,418) | — | 17,968 |
BELIMO Holding AG3,11 | 33,323 | — | 3,209 | 30,114 | 3,829 | 56,865 | 4,693 | — |
J. Kumar Infraprojects Ltd.3,11 | 4,450,500 | — | 4,450,500 | — | (4,196) | 5,229 | — | — |
Continental Building Products, Inc.1,11 | 2,780,700 | — | 2,780,700 | — | 58,478 | (33,959) | — | — |
TechnoPro Holdings, Inc.3,11 | 1,873,600 | — | 712,700 | 1,160,900 | 1,583 | (12,785) | 1,829 | — |
Bravida Holding AB1,3,11 | 16,173,198 | — | 8,372,784 | 7,800,414 | 18,844 | (11,378) | — | — |
Coor Service Management Holding AB1,3,11 | 5,878,630 | 576,620 | 3,460,620 | 2,994,630 | (4,136) | (10,534) | — | — |
Tsubaki Nakashima Co., Ltd.3,11 | 2,920,100 | — | 2,920,100 | — | (17,760) | 12,783 | 627 | — |
SMALLCAP World Fund — Page 19 of 26
unaudited
Investments in affiliates (continued)
Beginning shares | Additions | Reductions | Ending shares | Net realized (loss) gain (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 6/30/2020 (000) | |
Rexnord Corp.11 | 5,708,000 | 125,000 | 1,005,000 | 4,828,000 | $(8,041) | $11,991 | $843 | $— |
VARTA AG, non-registered shares1,3,4,11 | 2,493,496 | 448,916 | 1,982,001 | 960,411 | 120,807 | (97,353) | — | — |
BeNEXT Group Inc.3,11 | 2,876,200 | — | 2,876,200 | — | (23,575) | 9,731 | 393 | — |
Diploma PLC3,11 | 5,676,000 | — | 60,000 | 5,616,000 | (22) | 10,466 | 1,502 | — |
Boyd Group Services Inc.11 | 951,051 | 404,820 | 317,100 | 1,038,771 | (3,835) | 59,327 | 321 | — |
1,014,922 | ||||||||
Financials 1.16% | ||||||||
Cannae Holdings, Inc.1 | 5,137,578 | 2,194,959 | — | 7,332,537 | — | 84,041 | — | 301,367 |
Trupanion, Inc.1,4 | 2,689,094 | 385,307 | 278,894 | 2,795,507 | 4,877 | 40,781 | — | 119,340 |
Seacoast Banking Corp. of Florida1 | 3,031,901 | 550,000 | — | 3,581,901 | — | (17,183) | — | 73,071 |
Aavas Financiers Ltd.1,3 | — | 4,102,706 | — | 4,102,706 | — | (26,304) | — | 73,015 |
Greenhill & Co., Inc. | 1,169,700 | — | — | 1,169,700 | — | (3,661) | 175 | 11,685 |
HUB24 Ltd.3,11 | 4,377,158 | — | 4,377,158 | — | (18,265) | 6,489 | — | — |
578,478 | ||||||||
Consumer staples 1.28% | ||||||||
Emmi AG3 | 317,072 | — | — | 317,072 | — | 17,871 | 3,896 | 276,472 |
Grocery Outlet Holding Corp.1 | 1,416,700 | 3,801,082 | 158,400 | 5,059,382 | (343) | 36,031 | — | 206,423 |
Simply Good Foods Co., Class A1 | 2,788,000 | 3,863,000 | — | 6,651,000 | — | (49,636) | — | 123,576 |
Hotel Chocolat Group plc3,4 | 3,619,763 | 3,866,237 | — | 7,486,000 | — | (8,808) | 116 | 28,938 |
R.E.A. Holdings PLC1,3,11 | 2,162,000 | — | 2,162,000 | — | (9,407) | 6,035 | — | — |
CCL Products (India) Ltd.3,11 | 10,642,173 | — | 10,642,173 | — | (3,101) | (2,592) | — | — |
Primo Water Operations Inc.11 | 3,123,557 | — | 3,123,557 | — | 1,090 | 6,846 | — | — |
TCI Co., Ltd.3,11 | 6,635,058 | — | 6,635,058 | — | (22,159) | 7,799 | — | — |
635,409 | ||||||||
Communication services 0.48% | ||||||||
Iridium Communications Inc.1 | 6,801,932 | 400,000 | — | 7,201,932 | — | 30,108 | — | 183,217 |
Iridium Communications Inc.1,7 | 636,132 | — | — | 636,132 | — | 2,646 | — | 16,183 |
Kamakura Shinsho, Ltd.3,4 | 2,135,000 | 162,900 | — | 2,297,900 | — | (6,728) | 59 | 23,950 |
The Pebble Group PLC1,3 | — | 11,259,000 | — | 11,259,000 | — | (1,225) | — | 14,644 |
237,994 | ||||||||
Real estate 0.59% | ||||||||
Altus Group Ltd. | 3,014,100 | 375,661 | 154,700 | 3,235,061 | (183) | (243) | 1,068 | 97,200 |
WHA Corp. PCL3 | 751,320,200 | 218,355,000 | 76,422,876 | 893,252,324 | 5,660 | (35,962) | 3,297 | 96,022 |
JHSF Participações SA | — | 40,035,711 | — | 40,035,711 | — | 4,532 | 110 | 52,271 |
Cyrela Commercial Properties SA, ordinary nominative | — | 8,557,663 | — | 8,557,663 | — | (17,003) | 75 | 23,872 |
Mitre Realty Empreendimentos E Participações SA1 | — | 6,168,863 | — | 6,168,863 | — | (11,131) | — | 17,356 |
Foxtons Group PLC3 | 17,881,785 | — | — | 17,881,785 | — | (2,471) | — | 8,523 |
295,244 | ||||||||
Materials 0.30% | ||||||||
Navin Fluorine International Ltd.3 | 3,202,000 | 283,500 | — | 3,485,500 | — | 35,875 | 371 | 75,101 |
JCU Corp.3 | 1,687,000 | 517,600 | 284,300 | 1,920,300 | (601) | 21,470 | 465 | 59,875 |
Nevada Copper Corp.1,4 | 47,090,000 | — | 744,500 | 46,345,500 | (207) | (1,349) | — | 6,486 |
Excelsior Mining Corp.1,4 | 12,868,000 | — | — | 12,868,000 | — | (3,943) | — | 6,256 |
Allegheny Technologies Inc.1,11 | 10,087,124 | 447,000 | 8,699,766 | 1,834,358 | (132,630) | 28,373 | — | — |
SMALLCAP World Fund — Page 20 of 26
unaudited
Investments in affiliates (continued)
Beginning shares | Additions | Reductions | Ending shares | Net realized (loss) gain (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 6/30/2020 (000) | |
Mayur Uniquoters Ltd.3,11 | 2,402,934 | — | 2,402,934 | — | $(11,404) | $11,135 | $26 | $— |
Loma Negra Compania Industrial Argentina SA (ADR)1,11 | 7,110,500 | — | 3,554,500 | 3,556,000 | (31,008) | 19,192 | — | — |
147,718 | ||||||||
Energy 0.03% | ||||||||
NuVista Energy Ltd.1,4 | 15,965,000 | — | — | 15,965,000 | — | (20,830) | — | 9,055 |
Savannah Energy PLC1,3 | 52,160,179 | 12,438,923 | — | 64,599,102 | — | (11,230) | — | 5,941 |
Nine Energy Service, Inc.1,4,11 | 2,453,000 | — | 1,253,000 | 1,200,000 | (32,040) | 21,304 | — | — |
14,996 | ||||||||
Utilities 0.00% | ||||||||
Mytrah Energy Ltd.1,3,5 | 10,418,000 | — | — | 10,418,000 | — | 1 | — | 129 |
Total common stocks | 11,014,749 | |||||||
Preferred securities 0.30% | ||||||||
Consumer staples 0.00% | ||||||||
R.E.A. Holdings PLC 9.00% cumulative, preferred shares1,11 | 96,000 | — | 96,000 | — | (117) | 99 | — | — |
Consumer discretionary 0.09% | ||||||||
Made.com Design Ltd., Series C-4, preferred shares1,3,5,6 | 2,067,967 | — | — | 2,067,967 | — | 2,205 | — | 41,998 |
Information technology 0.21% | ||||||||
Avidxchange, Inc., Series F, preferred shares1,3,5,6 | — | 2,159,548 | — | 2,159,548 | — | — | — | 105,844 |
Total preferred securities | 147,842 | |||||||
Rights & warrants 0.00% | ||||||||
Health care 0.00% | ||||||||
Neovasc Inc., warrants, expires 20251,3 | — | 138,000 | — | 138,000 | — | 66 | — | 66 |
Neovasc Inc., Class A, warrants, expire 20221,11 | — | — | — | — | — | — | — | — |
66 | ||||||||
Energy 0.00% | ||||||||
Savannah Petroleum PLC, warrants, expire 20191,11 | — | — | — | — | — | — | — | — |
Total rights & warrants | 66 | |||||||
Convertible stocks 0.03% | ||||||||
Information technology 0.03% | ||||||||
RealSelf, Inc., Series C, convertible preferred shares3,5,6 | 3,468,862 | — | — | 3,468,862 | — | (10,233) | — | 14,084 |
Health care 0.00% | ||||||||
Cortexyme, Inc., Series B, 8.00% noncumulative convertible preferred1,3,11 | — | — | — | — | — | — | — | — |
Total convertible stocks | 14,084 | |||||||
Total 22.50% | $(519,204) | $2,263,331 | $50,555 | $11,176,741 |
SMALLCAP World Fund — Page 21 of 26
unaudited
1 | Security did not produce income during the last 12 months. |
2 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
3 | Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities was $20,119,948,000, which represented 40.50% of the net assets of the fund. This amount includes $19,501,878,000 related to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading. |
4 | All or a portion of this security was on loan. The total value of all such securities was $866,904,000, which represented 1.75% of the net assets of the fund. |
5 | Value determined using significant unobservable inputs. |
6 | Acquired through a private placement transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale. Further details on these holdings appear below. |
7 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $252,173,000, which represented .51% of the net assets of the fund. |
8 | Amount less than one thousand. |
9 | Rate represents the seven-day yield at 6/30/2020. |
10 | Security purchased with cash collateral from securities on loan. |
11 | Unaffiliated issuer at 6/30/2020. |
12 | This security changed its name during the reporting period. |
Private placement securities | Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets |
Avidxchange, Inc., Series F, preferred shares | 12/26/2019 | $105,844 | $105,844 | .21% |
Marqeta, Inc., Series E-1, 8.00% noncumulative, preferred shares | 5/27/2020 | 78,500 | 78,500 | .16 |
Agilon Health TopCo, Inc. | 1/4/2019-3/4/2020 | 50,494 | 77,115 | .16 |
Made.com Design Ltd., Series C-4, preferred shares | 3/2/2018 | 41,328 | 41,998 | .09 |
Nextdoor Inc., Series H, convertible preferred shares | 5/8/2019 | 30,833 | 35,786 | .07 |
Coursera, Inc., Series E, 8.00% noncumulative, convertible preferred shares | 4/23/2019 | 25,000 | 26,312 | .05 |
Acerta Pharma BV | 5/7/2014 | 11,250 | 25,149 | .05 |
Credo Technology Group Holding, Ltd., Series D, 8.00% noncumulative, preferred shares | 3/20/2020 | 20,000 | 20,000 | .04 |
Gitlab Inc., Series E, preferred shares | 9/11/2019 | 19,450 | 19,450 | .04 |
Venture Global LNG, Inc., Series C | 5/1/2015 | 12,720 | 16,108 | .03 |
RealSelf, Inc., Series C, convertible preferred shares | 4/18/2018 | 19,000 | 14,084 | .03 |
PACT Pharma, Inc., Series C, 8.00% noncumulative, preferred shares | 2/7/2020 | 9,000 | 12,346 | .03 |
Grail, Inc. | 4/17/2020 | 9,907 | 9,907 | .02 |
Foursquare Labs, Inc., Series A | 12/3/2013 | 20,000 | 5,891 | .01 |
Coursera, Inc., Series C, 8.00% noncumulative, convertible preferred shares | 2/20/2020 | 5,400 | 5,684 | .01 |
Foursquare Labs, Inc., warrants, expire 2033 | 12/3/2013 | — | 587 | .00 |
Proteus Digital Health, Inc., Series G, 6.50% noncumulative, convertible preferred shares | 5/6/2014-7/23/2014 | 40,000 | — | .00 |
Total private placement securities | $ 498,726 | $ 494,761 | 1.00% |
Valuation disclosures
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value of each share class of the fund is generally determined as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
SMALLCAP World Fund — Page 22 of 26
unaudited
Fixed-income securities, including short-term securities, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
Fixed-income class | Examples of standard inputs |
All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds & notes; convertible securities | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of directors as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of directors has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of directors. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market
SMALLCAP World Fund — Page 23 of 26
unaudited
participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following table presents the fund’s valuation levels as of June 30, 2020 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Information technology | $7,803,945 | $4,310,614 | $5,891 | $12,120,450 |
Health care | 7,133,122 | 2,778,866 | 182,278 | 10,094,266 |
Consumer discretionary | 4,365,129 | 3,975,179 | 52,902 | 8,393,210 |
Industrials | 2,315,016 | 4,387,518 | — | 6,702,534 |
Financials | 2,243,352 | 1,183,398 | — | 3,426,750 |
Consumer staples | 691,773 | 1,093,051 | — | 1,784,824 |
Communication services | 1,016,524 | 584,686 | — | 1,601,210 |
Real estate | 400,080 | 448,395 | — | 848,475 |
Materials | 379,868 | 457,644 | 105 | 837,617 |
Energy | 235,275 | 109,800 | 16,108 | 361,183 |
Utilities | 71,876 | 42,959 | 129 | 114,964 |
Preferred securities | 31,786 | 129,768 | 278,138 | 439,692 |
Rights & warrants | 553 | 66 | 587 | 1,206 |
Convertible stocks | — | — | 81,866 | 81,866 |
Bonds, notes & other debt instruments | — | 3,565 | — | 3,565 |
Short-term securities | 3,511,390 | — | — | 3,511,390 |
Total | $30,199,689 | $19,505,509 | $618,004 | $50,323,202 |
The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the nine months ended
June 30, 2020 (dollars in thousands):
June 30, 2020 (dollars in thousands):
Beginning value at 9/30/2019 | Transfers into Level 3* | Purchases | Sales | Net realized loss | Unrealized appreciation | Transfers out of Level 3* | Ending value at 6/30/2020 | |
Investment securities | $266,785 | $3,643 | $386,380 | $(57,440) | $(24,646) | $43,282 | $— | $618,004 |
Net unrealized appreciation during the period on Level 3 investment securities held at June 30, 2020 | $43,282 |
* | Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. |
SMALLCAP World Fund — Page 24 of 26
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 6/30/2020 | Valuation techniques | Unobservable inputs | Range (if applicable) | Weighted average | Impact to valuation from an increase in input* | |
Common stocks | $257,413 | Liquidation value | N/A | N/A | N/A | N/A |
Transaction price | N/A | N/A | N/A | N/A | ||
Expected proceeds | Discount rate | 10% | 10% | Decrease | ||
Inputs to market comparables and transaction price | Weight ascribed to transaction price | 25% | N/A | N/A | ||
Weight ascribed to market comparables | 75% | N/A | N/A | |||
Market comparables | Price/cash flow multiple | 7.8x | 7.8x | Increase | ||
Price/sales multiple | 2.4x | 2.4x | Increase | |||
Transaction point multiple discount | 12% | 12% | Decrease | |||
DLOM | 24% | 24% | Decrease | |||
$ per one billion Btu | $2.25 | $2.25 | Increase | |||
Million metric tonnes per annum | 10 MMTPA | 10 MMTPA | Increase | |||
Third party valuation | N/A | N/A | N/A | N/A | ||
Recent market information | Adjustment based on proxy (decrease) | 21% | 21% | Decrease | ||
DLOM | 17% - 21% | 19% | Decrease | |||
Convertible securities | 81,866 | Inputs to market comparables and transaction price | Weight ascribed to transaction price | 50% | N/A | N/A |
Weight ascribed to market comparables | 50% | N/A | N/A | |||
Enterprise value multiple | Enterprise value/sales multiple | 24.4x | 24.4x | Increase | ||
Market comparables | Market comparables discount | 20% | 20% | Decrease | ||
Adjustment based on market comparables (increase) | 1% | 1% | Increase | |||
Enterprise value/sales multiple | 11.6x - 12.5x | 11.9x | Increase | |||
Transaction point multiple discount | 2% | 2% | Decrease | |||
Preferred securities | 278,138 | Transaction price | N/A | N/A | N/A | N/A |
Inputs to market comparables and discounted cash flow | Weight ascribed to market comparables | 67% | N/A | N/A | ||
Weight ascribed to discounted cash flow | 33% | N/A | N/A | |||
Market comparables | DLOM | 24% | 24% | Decrease | ||
Enterprise value/sales multiple | 4.3x | 4.3x | Increase | |||
Market comparables discount | 20% | 20% | Decrease | |||
Discounted cash flow | DLOM | 24% | 24% | Decrease | ||
Revenue CAGR | 21% | 21% | Increase | |||
Weighted average cost of capital | 10.5% | 10.5% | Decrease | |||
Rights & warrants | 587 | Black-Scholes | Underlying share price | N/A | N/A | N/A |
Implied volatility | 30% | 30% | Increase | |||
$618,004 |
* | 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. |
SMALLCAP World Fund — Page 25 of 26
unaudited
Key to abbreviations |
ADR = American Depositary Receipts |
Btu = British thermal unit |
CAD = Canadian dollars |
CAGR = Compound annual growth rate |
DLOM = Discount for lack of marketability |
EUR = Euros |
GBP = British pounds |
GDR = Global Depositary Receipts |
ISK = Icelandic kronor |
MMTPA = Million metric tonnes per annum |
SDR = Swedish Depositary Receipts |
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2020 Capital Group. All rights reserved.
MFGEFP3-035-0820O-S78088 | SMALLCAP World Fund — Page 26 of 26 |