SMALLCAP World Fund®
Investment portfolio
June 30, 2023
Investment portfolio
June 30, 2023
unaudited
Common stocks 92.26% Industrials 20.79% | Shares | Value (000) | |
Saia, Inc.1,2 | 2,044,000 | $699,886 | |
Diploma PLC1 | 10,722,439 | 407,134 | |
IMCD NV | 2,701,267 | 388,549 | |
Comfort Systems USA, Inc.1 | 2,360,862 | 387,654 | |
Interpump Group SpA1 | 6,830,495 | 379,896 | |
The AZEK Co., Inc., Class A1,2 | 11,828,381 | 358,282 | |
ATS Corp.1,2 | 7,339,577 | 337,684 | |
NIBE Industrier AB, Class B | 29,398,225 | 279,424 | |
BayCurrent Consulting, Inc. | 7,040,600 | 264,512 | |
Wizz Air Holdings PLC1,2 | 7,064,152 | 245,722 | |
Arcosa, Inc.1 | 3,197,212 | 242,253 | |
VAT Group AG | 553,276 | 229,154 | |
Chart Industries, Inc.2,3 | 1,259,370 | 201,235 | |
Crane Co. | 2,251,351 | 200,640 | |
BELIMO Holding AG | 386,320 | 192,746 | |
Harmonic Drive Systems, Inc.1 | 5,750,750 | 185,498 | |
Willscot Mobile Mini Holdings Corp., Class A2 | 3,841,326 | 183,577 | |
EnPro Industries, Inc.1 | 1,363,052 | 182,008 | |
Carel Industries SpA1 | 5,962,851 | 179,834 | |
Visional, Inc.1,2,3 | 3,086,930 | 170,895 | |
TransDigm Group, Inc. | 190,000 | 169,892 | |
XPO, Inc.2 | 2,842,812 | 167,726 | |
Regal Rexnord Corp. | 1,087,715 | 167,399 | |
International Container Terminal Services, Inc. | 44,009,076 | 162,313 | |
Japan Airport Terminal Co., Ltd. | 3,303,085 | 149,518 | |
Armstrong World Industries, Inc. | 1,971,614 | 144,835 | |
Trelleborg AB, Class B | 5,782,697 | 140,340 | |
TFI International, Inc. (CAD denominated) | 1,130,000 | 128,742 | |
TFI International, Inc. | 68,200 | 7,772 | |
Kadant, Inc.1 | 611,789 | 135,878 | |
Stericycle, Inc.2 | 2,891,425 | 134,278 | |
Cleanaway Waste Management, Ltd. | 75,279,081 | 130,291 | |
ESCO Technologies, Inc. | 1,156,662 | 119,865 | |
Grupo Aeroportuario del Centro Norte, SAB de CV, Series B | 11,248,700 | 119,525 | |
Graco, Inc. | 1,374,000 | 118,645 | |
Rumo SA | 25,127,700 | 116,502 | |
Watsco, Inc.3 | 300,000 | 114,441 | |
RS Group PLC | 11,773,871 | 113,798 | |
Hensoldt AG | 3,416,108 | 112,123 | |
Spirax-Sarco Engineering PLC | 848,200 | 111,725 | |
Atkore, Inc.2 | 711,548 | 110,959 | |
DO & CO AG, non-registered shares1 | 779,520 | 106,502 | |
Builders FirstSource, Inc.2 | 760,228 | 103,391 | |
ICF International, Inc. | 821,405 | 102,175 | |
Copa Holdings, SA, Class A | 898,945 | 99,405 | |
Addtech AB, Class B | 4,539,814 | 98,953 |
SMALLCAP World Fund — Page 1 of 29
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Reliance Worldwide Corp., Ltd. | 35,890,301 | $98,731 | |
Simpson Manufacturing Co., Inc. | 699,036 | 96,816 | |
Instalco AB1,3 | 19,116,198 | 95,403 | |
TechnoPro Holdings, Inc. | 4,377,700 | 94,944 | |
Aalberts NV, non-registered shares | 2,235,546 | 94,109 | |
KEI Industries, Ltd. | 3,314,546 | 93,828 | |
Masco Corp. | 1,625,000 | 93,242 | |
Lifco AB, Class B | 4,195,000 | 91,291 | |
Enerpac Tool Group Corp., Class A1 | 3,343,384 | 90,271 | |
ManpowerGroup, Inc. | 1,125,314 | 89,350 | |
Boyd Group Services, Inc. | 450,912 | 86,030 | |
ALS, Ltd. | 11,230,106 | 83,864 | |
dip Corp.1 | 3,341,000 | 83,496 | |
Dürr AG | 2,530,870 | 81,861 | |
Daiseki Co., Ltd.1 | 2,894,300 | 81,642 | |
Woodward, Inc. | 649,000 | 77,173 | |
Volution Group PLC1 | 15,684,638 | 75,396 | |
Cargotec OYJ, Class B, non-registered shares | 1,368,742 | 75,163 | |
Johns Lyng Group, Ltd.1 | 20,870,434 | 74,376 | |
First Advantage Corp.2 | 4,627,382 | 71,308 | |
The Weir Group PLC | 3,166,528 | 70,690 | |
Upwork, Inc.1,2 | 7,564,920 | 70,656 | |
InPost SA2 | 6,340,673 | 68,799 | |
Azelis Group NV | 3,007,672 | 68,723 | |
Alfen NV2,3 | 1,018,335 | 68,499 | |
Munters Group AB | 5,990,533 | 68,026 | |
Japan Elevator Service Holdings Co., Ltd.1 | 5,123,854 | 67,328 | |
Ceridian HCM Holding, Inc.2 | 979,310 | 65,584 | |
SHO-BOND Holdings Co., Ltd. | 1,591,700 | 63,373 | |
Zhejiang Weixing New Building Materials Co., Ltd., Class A | 22,352,304 | 63,244 | |
Fluidra, SA, non-registered shares | 3,189,400 | 62,118 | |
Sulzer AG | 691,945 | 59,522 | |
CSW Industrials, Inc. | 350,667 | 58,277 | |
FTI Consulting, Inc.2 | 303,152 | 57,659 | |
Arcadis NV, non-registered shares | 1,361,000 | 56,982 | |
CCR SA, ordinary nominative shares | 19,207,630 | 56,361 | |
IMI PLC | 2,695,989 | 56,337 | |
Concentrix Corp. | 685,884 | 55,385 | |
International Consolidated Airlines Group SA (CDI)2 | 26,494,000 | 54,694 | |
Montana Aerospace AG1,2 | 3,375,532 | 54,446 | |
Engcon AB, Class B | 6,013,176 | 53,621 | |
Textron, Inc. | 780,000 | 52,751 | |
GVS SpA2 | 8,720,038 | 52,734 | |
Controladora Vuela Compañía de Aviación, SAB de CV, Class A (ADR), ordinary participation certificates2 | 2,557,800 | 35,681 | |
Controladora Vuela Compañía de Aviación, SAB de CV, Class A, ordinary participation certificates2,3 | 11,941,586 | 16,723 | |
Polycab India, Ltd. | 1,202,370 | 52,058 | |
JGC Holdings Corp. | 3,883,300 | 50,619 | |
Marlowe PLC1,2,3 | 6,904,878 | 49,115 | |
Kingspan Group PLC | 724,000 | 48,203 | |
Loomis AB | 1,629,000 | 47,570 | |
CG Power and Industrial Solutions, Ltd. | 10,184,411 | 47,045 | |
Matson, Inc. | 579,528 | 45,047 | |
MSA Safety, Inc. | 254,500 | 44,273 |
SMALLCAP World Fund — Page 2 of 29
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Melrose Industries PLC | 6,786,734 | $43,688 | |
Lyft, Inc.2 | 4,535,000 | 43,491 | |
Guangzhou Baiyun International Airport Co., Ltd., Class A2 | 21,926,503 | 43,365 | |
IDEX Corp. | 200,000 | 43,052 | |
Adecco Group AG | 1,294,035 | 42,238 | |
TELUS International (Cda), Inc., subordinate voting shares2 | 2,778,650 | 42,180 | |
NORMA Group SE, non-registered shares1 | 2,276,962 | 42,040 | |
Sun Country Airlines Holdings, Inc.2 | 1,816,363 | 40,832 | |
Driven Brands Holdings, Inc.2 | 1,501,000 | 40,617 | |
Antares Vision SpA2 | 5,278,008 | 39,684 | |
Advanced Drainage Systems, Inc. | 323,056 | 36,757 | |
DL E&C Co., Ltd. | 1,354,400 | 35,940 | |
Trex Co., Inc.2 | 535,600 | 35,114 | |
Fiverr International, Ltd.2,3 | 1,336,944 | 34,774 | |
Haitian International Holdings, Ltd. | 14,733,481 | 34,427 | |
Centre Testing International Group Co., Ltd. | 12,715,436 | 34,167 | |
Sinoseal Holding Co., Ltd., Class A | 5,298,624 | 33,741 | |
Vicor Corp.2 | 604,239 | 32,629 | |
Fasadgruppen Group AB1 | 3,969,905 | 31,231 | |
Voltronic Power Technology Corp. | 490,000 | 31,068 | |
Generac Holdings, Inc.2 | 207,989 | 31,017 | |
LIXIL Corp. | 2,434,500 | 30,919 | |
Hefei Meyer Optoelectronic Technology, Inc., Class A | 8,060,809 | 28,666 | |
MSC Industrial Direct Co., Inc., Class A | 300,000 | 28,584 | |
SIS, Ltd.2 | 5,544,711 | 28,582 | |
Bombardier, Inc., Class B2,3 | 562,403 | 27,726 | |
Ventia Services Group Pty, Ltd. | 12,643,253 | 25,609 | |
Miura Co., Ltd. | 978,947 | 25,596 | |
L&T Technology Services, Ltd. | 520,280 | 25,041 | |
Indutrade AB | 1,080,000 | 24,369 | |
XP Power, Ltd. | 939,012 | 23,523 | |
Judges Scientific PLC | 198,071 | 22,984 | |
EuroGroup Laminations SpA2 | 3,078,119 | 22,063 | |
BWX Technologies, Inc. | 301,745 | 21,596 | |
Norva24 Group AB1,2 | 9,330,000 | 21,538 | |
Dreamfolks Services, Ltd.1,2 | 2,692,012 | 21,252 | |
Computer Age Management Services, Ltd. | 765,815 | 20,543 | |
INVISIO Communications AB | 950,000 | 20,283 | |
MonotaRO Co., Ltd. | 1,511,100 | 19,256 | |
easyJet PLC2 | 3,000,000 | 18,469 | |
CMS Info Systems, Ltd.2 | 4,060,227 | 18,225 | |
Grupa Pracuj SA | 1,300,000 | 17,964 | |
Dätwyler Holding, Inc., non-registered shares | 82,914 | 17,685 | |
Burckhardt Compression Holding AG | 28,900 | 16,965 | |
APM Human Services International, Ltd.3 | 11,267,629 | 15,969 | |
Einride AB2,4,5 | 438,277 | 15,624 | |
UFP Industries, Inc. | 154,191 | 14,964 | |
Grafton Group PLC | 1,437,900 | 14,309 | |
Green Landscaping Group AB2 | 1,977,759 | 13,863 | |
TDCX, Inc., Class A (ADR)1,2 | 1,748,120 | 13,828 | |
Midac Holdings Co., Ltd. | 1,245,600 | 13,249 | |
Oshkosh Corp. | 150,000 | 12,988 | |
Chemring Group PLC | 3,445,200 | 12,402 | |
Crane NXT, Co. | 213,886 | 12,072 | |
AirTAC International Group | 364,000 | 12,041 |
SMALLCAP World Fund — Page 3 of 29
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Valmet OYJ3 | 357,836 | $9,957 | |
Pyrum Innovations AG2 | 128,340 | 7,229 | |
SITC International Holdings Co., Ltd. | 2,879,000 | 5,284 | |
Fluence Energy, Inc., Class A2,3 | 135,932 | 3,621 | |
APi Group Corp.2 | 126,353 | 3,444 | |
Ceres Power Holdings PLC2,3 | 831,946 | 3,207 | |
13,977,554 | |||
Consumer discretionary 18.53% | |||
TopBuild Corp.1,2 | 2,462,618 | 655,106 | |
Evolution AB | 4,940,540 | 626,064 | |
Tube Investments of India, Ltd.1 | 11,627,785 | 450,282 | |
Floor & Decor Holdings, Inc., Class A2 | 4,046,400 | 420,664 | |
Dollarama, Inc. | 5,010,000 | 339,307 | |
Toll Brothers, Inc. | 3,372,289 | 266,647 | |
YETI Holdings, Inc.1,2 | 6,767,444 | 262,848 | |
Melco Resorts & Entertainment, Ltd. (ADR)2 | 19,752,500 | 241,178 | |
Wyndham Hotels & Resorts, Inc. | 3,466,022 | 237,665 | |
Wayfair, Inc., Class A2,3 | 3,648,801 | 237,209 | |
Thor Industries, Inc. | 2,155,644 | 223,109 | |
IDP Education, Ltd.1 | 14,330,622 | 211,906 | |
DraftKings, Inc., Class A2 | 7,529,667 | 200,063 | |
Light & Wonder, Inc.2 | 2,904,204 | 199,693 | |
WH Smith PLC1 | 9,342,407 | 184,233 | |
CAVA Group, Inc.2,3 | 2,500,000 | 102,375 | |
CAVA Group, Inc. (6 month lock up)2 | 1,993,092 | 75,904 | |
Cavco Industries, Inc.1,2 | 588,800 | 173,696 | |
Kindred Group PLC (SDR)1 | 15,310,305 | 163,106 | |
Pets at Home Group PLC1 | 33,138,500 | 158,675 | |
Five Below, Inc.2 | 804,402 | 158,097 | |
KB Home | 2,957,918 | 152,954 | |
Adient PLC2 | 3,974,801 | 152,314 | |
Boot Barn Holdings, Inc.1,2 | 1,787,200 | 151,358 | |
Moncler SpA | 2,015,000 | 139,425 | |
Jack in the Box, Inc.1 | 1,428,885 | 139,359 | |
Lennar Corp., Class A | 1,058,458 | 132,635 | |
Lennar Corp., Class B | 21,169 | 2,392 | |
Polaris, Inc. | 1,085,000 | 131,209 | |
Jumbo SA | 4,771,161 | 131,112 | |
Norwegian Cruise Line Holdings, Ltd.2,3 | 5,883,204 | 128,077 | |
Games Workshop Group PLC | 917,600 | 127,512 | |
Inchcape PLC | 12,645,629 | 124,976 | |
NEXTAGE Co., Ltd.1,3 | 6,414,700 | 124,703 | |
MakeMyTrip, Ltd., non-registered shares1,2 | 4,567,951 | 123,243 | |
Watches of Switzerland Group PLC1,2 | 15,447,466 | 120,122 | |
Pool Corp. | 317,700 | 119,023 | |
Domino’s Pizza Enterprises, Ltd. | 3,778,617 | 116,937 | |
Helen of Troy, Ltd.2 | 1,076,247 | 116,256 | |
Century Communities, Inc. | 1,512,000 | 115,849 | |
LGI Homes, Inc.2 | 796,562 | 107,448 | |
HUGO BOSS AG | 1,303,146 | 101,725 | |
Fox Factory Holding Corp.2 | 915,190 | 99,307 | |
Bright Horizons Family Solutions, Inc.2 | 1,058,300 | 97,840 | |
Skyline Champion Corp.2 | 1,490,000 | 97,521 | |
Malibu Boats, Inc., Class A1,2 | 1,649,000 | 96,730 |
SMALLCAP World Fund — Page 4 of 29
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
Lottomatica Group SpA2 | 9,939,302 | $94,532 | |
Golden Entertainment, Inc.1,2 | 2,254,271 | 94,229 | |
Kontoor Brands, Inc. | 2,222,981 | 93,588 | |
M.D.C. Holdings, Inc. | 2,001,000 | 93,587 | |
Domino’s Pizza Group PLC1 | 26,295,118 | 92,268 | |
Auction Technology Group PLC1,2 | 9,694,672 | 92,054 | |
Mattel, Inc.2 | 4,700,000 | 91,838 | |
Entain PLC | 5,635,173 | 91,516 | |
Asbury Automotive Group, Inc.2 | 376,212 | 90,449 | |
Skechers USA, Inc., Class A2 | 1,600,000 | 84,256 | |
Salvatore Ferragamo SpA3 | 5,106,419 | 84,128 | |
Shoei Co., Ltd.1 | 4,291,700 | 79,556 | |
MRF, Ltd. | 62,530 | 77,214 | |
Installed Building Products, Inc. | 524,659 | 73,536 | |
Jiumaojiu International Holdings, Ltd.3 | 44,092,531 | 72,561 | |
FIGS, Inc., Class A2,3 | 8,569,561 | 70,870 | |
Tsuburaya Fields Holdings, Inc. | 3,359,000 | 70,287 | |
Victoria PLC1,2 | 9,200,079 | 68,847 | |
ABC-Mart, Inc. | 1,219,700 | 66,085 | |
NOK Corp. | 4,349,300 | 63,769 | |
Williams-Sonoma, Inc. | 500,000 | 62,570 | |
Levi Strauss & Co., Class A3 | 4,295,300 | 61,981 | |
D.R. Horton, Inc. | 490,000 | 59,628 | |
Nien Made Enterprise Co., Ltd. | 5,394,000 | 59,504 | |
Domino’s Pizza, Inc. | 176,500 | 59,479 | |
On Holding AG, Class A2 | 1,742,200 | 57,493 | |
Ariston Holding NV | 5,157,220 | 54,572 | |
Murphy USA, Inc. | 175,000 | 54,444 | |
International Game Technology PLC | 1,647,850 | 52,550 | |
Flutter Entertainment PLC2 | 259,095 | 52,147 | |
Darden Restaurants, Inc. | 303,300 | 50,675 | |
Meritage Homes Corp. | 353,400 | 50,278 | |
RH2,3 | 150,000 | 49,439 | |
Momo.com, Inc. | 2,194,513 | 48,776 | |
Dometic Group AB | 7,346,736 | 48,343 | |
Lojas Renner SA | 11,564,503 | 48,304 | |
Beazer Homes USA, Inc.1,2 | 1,659,813 | 46,956 | |
Musti Group OYJ1 | 2,400,537 | 46,933 | |
B&M European Value Retail SA | 6,257,481 | 44,355 | |
Steven Madden, Ltd. | 1,353,970 | 44,261 | |
Compagnie Plastic Omnium SA | 2,472,513 | 43,496 | |
Cairn Homes PLC | 31,452,000 | 39,798 | |
Snow Peak, Inc.1,3 | 3,050,800 | 39,771 | |
XPEL, Inc.2 | 469,670 | 39,556 | |
Six Flags Entertainment Corp.2 | 1,514,000 | 39,334 | |
Trainline PLC2 | 11,392,700 | 37,693 | |
MGM China Holdings, Ltd.2,3 | 32,026,400 | 37,522 | |
Dowlais Group PLC2 | 22,085,556 | 35,606 | |
AcadeMedia AB1 | 7,364,410 | 34,413 | |
Devyani International, Ltd.2 | 14,334,500 | 32,967 | |
Puuilo OYJ | 4,124,072 | 32,576 | |
Mazda Motor Corp. | 3,264,000 | 31,899 | |
Tongcheng Travel Holdings, Ltd.2 | 15,035,800 | 31,557 | |
Haichang Ocean Park Holdings, Ltd.2,3 | 206,153,000 | 31,360 | |
DPC Dash, Ltd.2 | 4,718,073 | 31,128 |
SMALLCAP World Fund — Page 5 of 29
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
Macy’s, Inc. | 1,900,000 | $30,495 | |
Aritzia, Inc., subordinate voting shares2 | 1,081,928 | 30,038 | |
Leslie’s, Inc.2 | 3,145,120 | 29,533 | |
Peloton Interactive, Inc., Class A2,3 | 3,817,528 | 29,357 | |
Melco International Development, Ltd.2 | 30,647,000 | 28,551 | |
MIPS AB | 543,100 | 26,964 | |
Etsy, Inc.2 | 314,350 | 26,597 | |
Traeger, Inc.1,2 | 6,195,000 | 26,329 | |
OneWater Marine, Inc., Class A2,3 | 720,078 | 26,096 | |
Arco Platform, Ltd., Class A2,3 | 2,122,132 | 25,763 | |
Brunello Cucinelli SpA | 290,033 | 25,572 | |
Nifco, Inc. | 817,800 | 24,333 | |
Chervon Holdings, Ltd. | 5,619,206 | 22,239 | |
Persimmon PLC | 1,630,523 | 21,257 | |
Bafang Electric (Suzhou) Co., Ltd., Class A | 2,126,718 | 20,546 | |
Everi Holdings, Inc.2 | 1,415,347 | 20,466 | |
Caesars Entertainment, Inc.2 | 400,000 | 20,388 | |
Bowlero Corp., Class A2,3 | 1,748,497 | 20,353 | |
MasterCraft Boat Holdings, Inc.2 | 649,032 | 19,893 | |
ThredUp, Inc., Class A2,3 | 8,064,000 | 19,676 | |
Pet Valu Holdings, Ltd. | 850,263 | 19,512 | |
Central Automotive Products, Ltd. | 870,100 | 19,223 | |
Vail Resorts, Inc. | 71,000 | 17,875 | |
Barratt Developments PLC | 3,315,285 | 17,404 | |
Elior Group SA2 | 5,807,012 | 16,634 | |
Nordstrom, Inc.3 | 760,000 | 15,557 | |
Roland Corp. | 448,000 | 12,915 | |
Bosideng International Holdings, Ltd. | 28,180,000 | 11,905 | |
Ermenegildo Zegna NV3 | 769,000 | 9,751 | |
First Watch Restaurant Group, Inc.2 | 557,265 | 9,418 | |
Royal Caribbean Cruises, Ltd.2 | 78,017 | 8,093 | |
StockX, Inc.2,4,5 | 161,790 | 7,886 | |
Goodyear Tire & Rubber Co.2 | 558,712 | 7,643 | |
Rinnai Corp. | 285,000 | 6,211 | |
BARK, Inc.2,3 | 4,500,000 | 5,985 | |
Brilliant Earth Group, Inc., Class A2,3 | 929,849 | 3,608 | |
BNN Technology PLC1,2,4 | 19,007,000 | — 6 | |
12,458,454 | |||
Information technology 15.01% | |||
eMemory Technology, Inc.1 | 5,946,334 | 425,413 | |
Global Unichip Corp. | 6,698,000 | 348,001 | |
Smartsheet, Inc., Class A1,2 | 7,917,229 | 302,913 | |
MKS Instruments, Inc. | 2,684,364 | 290,180 | |
ALTEN SA, non-registered shares1 | 1,827,919 | 288,081 | |
Kulicke and Soffa Industries, Inc.1 | 4,699,380 | 279,378 | |
MongoDB, Inc., Class A2 | 637,984 | 262,205 | |
Fabrinet, non-registered shares1,2 | 1,854,804 | 240,902 | |
Wolfspeed, Inc.2 | 4,071,388 | 226,328 | |
Socionext, Inc.3 | 1,519,700 | 222,351 | |
Rogers Corp.1,2 | 1,275,857 | 206,600 | |
Confluent, Inc., Class A2 | 5,710,121 | 201,624 | |
Credo Technology Group Holding, Ltd.1,2 | 11,465,587 | 198,813 | |
Pegasystems, Inc. | 3,911,854 | 192,854 | |
Novanta, Inc.2 | 1,015,687 | 186,988 |
SMALLCAP World Fund — Page 6 of 29
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
SUMCO Corp.3 | 12,977,174 | $183,675 | |
GitLab, Inc., Class A2,3 | 3,479,717 | 177,848 | |
SINBON Electronics Co., Ltd.1 | 14,501,000 | 172,564 | |
Nordic Semiconductor ASA1,2 | 13,847,705 | 168,165 | |
Softcat PLC | 8,791,807 | 158,082 | |
Keywords Studios PLC1 | 6,239,174 | 143,529 | |
Globant SA2 | 790,705 | 142,106 | |
Money Forward, Inc.1,2 | 3,525,387 | 140,157 | |
Vitec Software Group AB, Class B | 2,750,283 | 138,181 | |
DoubleVerify Holdings, Inc.2 | 3,517,500 | 136,901 | |
Net One Systems Co., Ltd.1 | 5,919,573 | 130,140 | |
RingCentral, Inc., Class A2 | 3,605,900 | 118,021 | |
SHIFT, Inc.2 | 636,600 | 116,325 | |
LEM Holding SA | 46,070 | 115,299 | |
Tanla Platforms, Ltd.1 | 9,190,777 | 114,753 | |
Dexerials Corp.1 | 5,161,500 | 113,355 | |
Teradata Corp.2 | 2,022,331 | 108,013 | |
Technoprobe SpA2,3 | 12,442,469 | 98,385 | |
Alteryx, Inc., Class A2 | 2,137,000 | 97,020 | |
Endava PLC, Class A (ADR)2 | 1,853,517 | 95,994 | |
Semtech Corp.1,2 | 3,640,646 | 92,691 | |
Bytes Technology Group PLC1 | 13,708,221 | 91,799 | |
VisEra Technologies Co., Ltd. | 10,872,906 | 91,784 | |
CCC Intelligent Solutions Holdings, Inc.2 | 8,042,622 | 90,158 | |
Lumentum Holdings, Inc.2,3 | 1,452,774 | 82,416 | |
Viavi Solutions, Inc.2 | 6,830,000 | 77,384 | |
Topicus.com, Inc., subordinate voting shares2 | 934,543 | 76,647 | |
MACOM Technology Solutions Holdings, Inc.2 | 1,140,000 | 74,704 | |
BE Semiconductor Industries NV | 663,608 | 71,940 | |
Coforge, Ltd. | 1,231,546 | 70,880 | |
SentinelOne, Inc., Class A2,3 | 4,609,245 | 69,600 | |
Monday.com, Ltd.2 | 405,134 | 69,367 | |
INFICON Holding AG | 56,590 | 68,267 | |
Insight Enterprises, Inc.2 | 466,244 | 68,230 | |
Maruwa Co., Ltd. | 434,700 | 67,451 | |
Kingdee International Software Group Co., Ltd.2 | 48,918,643 | 65,677 | |
Power Integrations, Inc. | 689,494 | 65,274 | |
Alkami Technology, Inc.2 | 3,975,721 | 65,162 | |
Hamamatsu Photonics KK | 1,289,450 | 63,299 | |
Vanguard International Semiconductor Corp. | 22,031,394 | 62,570 | |
PAR Technology Corp.1,2,3 | 1,840,057 | 60,593 | |
Taiyo Yuden Co., Ltd. | 2,083,300 | 59,593 | |
Unity Software, Inc.2,3 | 1,361,703 | 59,125 | |
Qorvo, Inc.2 | 574,004 | 58,566 | |
Tokyo Seimitsu Co., Ltd. | 1,057,400 | 58,533 | |
Silicon Laboratories, Inc.2 | 369,000 | 58,206 | |
Clear Secure, Inc., Class A3 | 2,485,767 | 57,595 | |
Mastek, Ltd.1 | 2,403,500 | 57,020 | |
Kainos Group PLC | 3,586,180 | 56,265 | |
SES-imagotag SA2,3 | 539,018 | 55,272 | |
Kingboard Laminates Holdings, Ltd. | 55,778,000 | 52,609 | |
Disco Corp. | 314,100 | 49,692 | |
SiTime Corp.2 | 400,406 | 47,236 | |
Extreme Networks, Inc.2 | 1,806,184 | 47,051 | |
Bentley Systems, Inc., Class B | 867,144 | 47,025 |
SMALLCAP World Fund — Page 7 of 29
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
CDW Corp. | 250,000 | $45,875 | |
Accton Technology Corp. | 4,009,000 | 45,433 | |
Cognex Corp. | 800,000 | 44,816 | |
Megaport, Ltd.1,2 | 9,161,000 | 44,543 | |
Xiamen Faratronic Co., Ltd., Class A | 2,157,156 | 40,786 | |
Halma PLC | 1,200,000 | 34,736 | |
Okta, Inc., Class A2 | 500,000 | 34,675 | |
Silergy Corp. | 2,768,000 | 34,610 | |
Reply SpA | 299,378 | 33,996 | |
Alphawave IP Group PLC2,3 | 18,280,492 | 33,381 | |
Lumine Group, Inc., subordinate voting shares2 | 2,422,565 | 33,227 | |
BlackLine, Inc.2 | 595,000 | 32,023 | |
Riskified, Ltd., Class A2,3 | 6,200,000 | 30,132 | |
OVH Groupe SAS2,3 | 2,894,931 | 29,891 | |
Aspen Technology, Inc.2 | 175,140 | 29,355 | |
SmartCraft ASA, Class A1,2,3 | 13,721,780 | 29,189 | |
Tripod Technology Corp. | 7,333,000 | 29,166 | |
Dye & Durham, Ltd. | 2,107,271 | 28,807 | |
Trimble, Inc.2 | 530,000 | 28,058 | |
Dock, Ltd.2,4,5 | 4,318,937 | 27,037 | |
Thoughtworks Holding, Inc.2 | 3,458,353 | 26,111 | |
JustSystems Corp. | 924,500 | 25,889 | |
Nemetschek SE | 339,710 | 25,440 | |
Guidewire Software, Inc.2 | 325,092 | 24,733 | |
Sinch AB2,3 | 10,660,038 | 24,128 | |
Flex, Ltd.2 | 864,808 | 23,903 | |
Clearwater Analytics Holdings, Inc., Class A2 | 1,488,780 | 23,627 | |
GFT Technologies SE | 819,325 | 23,062 | |
Zuken, Inc. | 790,900 | 21,472 | |
EPAM Systems, Inc.2 | 92,260 | 20,735 | |
Noventiq Holdings PLC (GDR)1,4,7 | 17,110,290 | 20,623 | |
Noventiq Holdings PLC (GDR)1,2,4 | 16,060 | 19 | |
Kingboard Holdings, Ltd. | 7,523,908 | 20,619 | |
Nayax, Ltd.2 | 1,075,000 | 20,305 | |
Amano Corp. | 934,300 | 19,736 | |
Perficient, Inc.2 | 235,932 | 19,660 | |
Alarm.com Holdings, Inc.2 | 351,000 | 18,140 | |
Hirose Electric Co., Ltd. | 134,800 | 17,942 | |
ON Semiconductor Corp.2 | 167,850 | 15,875 | |
Lagercrantz Group AB, Class B | 1,198,729 | 15,460 | |
Soitec2 | 72,600 | 12,281 | |
Zebra Technologies Corp., Class A2 | 36,300 | 10,739 | |
MaxLinear, Inc.2 | 328,275 | 10,360 | |
Parade Technologies, Ltd. | 277,000 | 9,665 | |
HashiCorp, Inc., Class A2 | 340,285 | 8,909 | |
Entegris, Inc. | 79,014 | 8,756 | |
Basler AG, non-registered shares3 | 454,707 | 8,484 | |
Procore Technologies, Inc.2 | 125,600 | 8,173 | |
LandMark Optoelectronics Corp. | 2,349,000 | 7,724 | |
Lime Technologies AB | 284,224 | 7,206 | |
Crayon Group Holding ASA2 | 721,500 | 7,055 | |
ams OSRAM AG, non-registered shares2 | 877,284 | 6,317 | |
Sensirion Holding AG2 | 57,416 | 6,287 | |
AAC Technologies Holdings, Inc. | 2,629,000 | 6,205 | |
JFrog, Ltd.2 | 178,400 | 4,942 |
SMALLCAP World Fund — Page 8 of 29
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
Cherry SE2,3 | 1,135,396 | $4,794 | |
CEVA, Inc.2 | 169,233 | 4,324 | |
Patreon, Inc., Class B2,4,5 | 189,951 | 3,888 | |
Yotpo, Ltd.2,4,5 | 2,620,102 | 3,563 | |
Foursquare Labs, Inc., Series A2,4,5 | 1,970,385 | 2,562 | |
E Ink Holdings, Inc. | 195,000 | 1,419 | |
10,091,693 | |||
Health care 12.94% | |||
Molina Healthcare, Inc.2 | 2,157,786 | 650,011 | |
Insulet Corp.2 | 1,826,146 | 526,551 | |
Max Healthcare Institute, Ltd.1,2 | 51,413,337 | 376,092 | |
CONMED Corp.1,3 | 2,257,072 | 306,713 | |
DexCom, Inc.2 | 2,210,000 | 284,007 | |
Penumbra, Inc.2 | 761,704 | 262,072 | |
Haemonetics Corp.1,2 | 3,070,964 | 261,462 | |
agilon health, Inc.2,3 | 13,114,300 | 227,402 | |
Legend Biotech Corp. (ADR)2 | 3,148,299 | 217,327 | |
Centene Corp.2 | 2,825,674 | 190,592 | |
Xenon Pharmaceuticals, Inc.1,2 | 4,596,435 | 176,963 | |
Bachem Holding AG3 | 1,960,794 | 171,225 | |
Shockwave Medical, Inc.2 | 585,000 | 166,965 | |
The Ensign Group, Inc. | 1,714,731 | 163,688 | |
Revance Therapeutics, Inc.1,2 | 6,378,357 | 161,436 | |
NovoCure, Ltd.2 | 3,770,803 | 156,488 | |
Vaxcyte, Inc.2 | 3,044,396 | 152,037 | |
iRhythm Technologies, Inc.2 | 1,453,945 | 151,676 | |
Amvis Holdings, Inc.1 | 6,536,451 | 148,761 | |
Amplifon SpA | 3,472,757 | 127,457 | |
Integra LifeSciences Holdings Corp.2 | 2,872,286 | 118,137 | |
Hypera SA, ordinary nominative shares | 12,076,774 | 116,046 | |
Tandem Diabetes Care, Inc.1,2 | 4,525,458 | 111,055 | |
Asahi Intecc Co., Ltd. | 5,535,700 | 108,844 | |
Zentalis Pharmaceuticals, Inc.1,2 | 3,810,758 | 107,501 | |
Glenmark Pharmaceuticals, Ltd.2 | 12,756,541 | 105,237 | |
Karuna Therapeutics, Inc.2 | 478,752 | 103,817 | |
Silk Road Medical, Inc.1,2 | 2,966,730 | 96,389 | |
Zai Lab, Ltd. (ADR)2,3 | 3,099,662 | 85,954 | |
Zai Lab, Ltd.2 | 1,822,200 | 5,026 | |
DiaSorin Italia SpA3 | 870,101 | 90,554 | |
Ventyx Biosciences, Inc.2,3 | 2,727,852 | 89,474 | |
Pacific Biosciences of California, Inc.2 | 6,503,749 | 86,500 | |
Exact Sciences Corp.2 | 890,000 | 83,571 | |
Laurus Labs, Ltd. | 18,667,095 | 83,477 | |
Ambu AS, Class B, non-registered shares2,3 | 5,031,783 | 82,308 | |
Genus PLC | 2,970,567 | 81,753 | |
Hapvida Participações e Investimentos SA2 | 88,418,930 | 80,881 | |
Denali Therapeutics, Inc.2 | 2,509,745 | 74,063 | |
Guardant Health, Inc.2 | 2,051,418 | 73,441 | |
Surgical Science Sweden AB1,2 | 3,271,137 | 73,130 | |
ICON PLC2 | 281,109 | 70,333 | |
CompuGroup Medical SE & Co. KGaA | 1,313,971 | 64,636 | |
Andlauer Healthcare Group, Inc., subordinate voting shares | 1,843,217 | 61,916 | |
Virbac SA | 203,589 | 60,166 | |
EBOS Group, Ltd. | 2,645,194 | 59,850 |
SMALLCAP World Fund — Page 9 of 29
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Netcare, Ltd.1 | 73,590,762 | $56,333 | |
Ascendis Pharma AS (ADR)2 | 579,165 | 51,690 | |
CRISPR Therapeutics AG2,3 | 902,543 | 50,669 | |
Nakanishi, Inc. | 2,255,800 | 50,037 | |
Poly Medicure, Ltd. | 3,325,990 | 46,692 | |
Zealand Pharma A/S2 | 1,265,344 | 45,401 | |
Encompass Health Corp. | 669,983 | 45,365 | |
Jeisys Medical, Inc.1,2 | 5,703,950 | 44,966 | |
10x Genomics, Inc., Class A2 | 793,300 | 44,298 | |
New Horizon Health, Ltd.2,3 | 12,603,835 | 44,200 | |
KRKA, dd, Novo mesto | 335,262 | 42,461 | |
BONESUPPORT Holding AB1,2 | 3,495,961 | 41,352 | |
Glaukos Corp.2 | 550,322 | 39,188 | |
Inhibrx, Inc.2,3 | 1,488,677 | 38,646 | |
Fisher & Paykel Healthcare Corp., Ltd. | 2,510,000 | 37,723 | |
Ocumension Therapeutics1,2,3 | 37,692,000 | 36,769 | |
AbCellera Biologics, Inc.2,3 | 5,480,000 | 35,401 | |
Olink Holding AB (ADR)2,3 | 1,862,032 | 34,913 | |
Ionis Pharmaceuticals, Inc.2 | 839,463 | 34,443 | |
SKAN Group AG | 383,510 | 32,981 | |
Angelalign Technology, Inc. | 3,499,200 | 32,766 | |
R1 RCM, Inc.2,3 | 1,740,000 | 32,103 | |
NuVasive, Inc.2 | 766,000 | 31,858 | |
Idorsia, Ltd.2,3 | 4,328,000 | 31,242 | |
Shandong Pharmaceutical Glass Co., Ltd., Class A | 7,943,502 | 29,806 | |
Indivior PLC2 | 1,284,920 | 29,803 | |
NextGen Healthcare, Inc.2 | 1,760,000 | 28,547 | |
Innovent Biologics, Inc.2 | 6,938,500 | 26,349 | |
Alnylam Pharmaceuticals, Inc.2 | 137,700 | 26,155 | |
Phreesia, Inc.2 | 807,600 | 25,044 | |
Incyte Corp.2 | 396,000 | 24,651 | |
Medmix AG | 916,977 | 24,250 | |
CUC, Inc.2,3 | 1,000,000 | 22,870 | |
Chemed Corp. | 42,000 | 22,750 | |
CanSino Biologics, Inc., Class H3 | 6,447,600 | 21,615 | |
Seer, Inc., Class A2 | 4,671,000 | 19,945 | |
Masimo Corp.2 | 118,437 | 19,489 | |
Medacta Group SA | 141,944 | 19,374 | |
Sosei Group Corp.2,3 | 1,861,300 | 19,361 | |
Classys, Inc. | 740,401 | 18,234 | |
Biohaven, Ltd.2 | 749,881 | 17,937 | |
SUNWELS Co., Ltd.3 | 738,900 | 17,904 | |
Natera, Inc.2 | 363,000 | 17,664 | |
Galapagos NV2 | 424,039 | 17,255 | |
Schrodinger, Inc.2,3 | 340,000 | 16,973 | |
Doximity, Inc., Class A2 | 489,000 | 16,636 | |
Pliant Therapeutics, Inc.2,3 | 912,467 | 16,534 | |
IDEAYA Biosciences, Inc.2 | 676,442 | 15,896 | |
Sysmex Corp. | 220,300 | 15,059 | |
Evotec SE, non-registered shares2 | 650,030 | 14,612 | |
Ultragenyx Pharmaceutical, Inc.2 | 295,412 | 13,627 | |
Nordhealth AS, Class A1,2 | 5,120,000 | 11,886 | |
Sana Biotechnology, Inc.2,3 | 1,963,378 | 11,702 | |
Tecan Group AG | 26,838 | 10,301 | |
AS ONE Corp. | 259,200 | 10,277 |
SMALLCAP World Fund — Page 10 of 29
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Chularat Hospital PCL, foreign registered shares | 118,608,800 | $10,086 | |
Hangzhou Tigermed Consulting Co., Ltd., Class A | 1,090,535 | 9,719 | |
Option Care Health, Inc.2 | 248,071 | 8,060 | |
J. B. Chemicals & Pharmaceuticals, Ltd. | 221,964 | 6,423 | |
Cellectis SA (ADR)2 | 1,848,804 | 3,642 | |
Cellectis SA, non-registered shares2,3 | 760,997 | 1,475 | |
Pharmaron Beijing Co., Ltd., Class H | 1,646,200 | 5,116 | |
ChemoMetec A/S2 | 70,910 | 4,856 | |
KRY International AB, Series A2,4,5 | 19,744 | 4,828 | |
Precision BioSciences, Inc.1,2 | 6,715,043 | 3,532 | |
Inari Medical, Inc.2,3 | 44,300 | 2,576 | |
Creo Medical Group PLC2 | 3,700,000 | 1,645 | |
Hutchmed China, Ltd.2 | 437,610 | 1,039 | |
8,699,984 | |||
Financials 10.00% | |||
Ares Management Corp., Class A | 5,174,776 | 498,590 | |
Essent Group, Ltd.1 | 8,604,853 | 402,707 | |
AU Small Finance Bank, Ltd. | 31,937,993 | 293,549 | |
Eurobank Ergasias Services and Holdings SA2 | 153,456,685 | 252,937 | |
Janus Henderson Group PLC | 7,835,302 | 213,512 | |
Cholamandalam Investment and Finance Co., Ltd. | 12,992,432 | 180,868 | |
RenaissanceRe Holdings, Ltd. | 952,200 | 177,604 | |
National Bank of Greece SA2 | 27,146,600 | 176,515 | |
IIFL Finance, Ltd.1 | 28,278,861 | 174,537 | |
Euronet Worldwide, Inc.2 | 1,481,017 | 173,827 | |
Steadfast Group, Ltd. | 41,209,804 | 165,163 | |
360 ONE WAM, Ltd.1 | 28,508,784 | 157,899 | |
Fukuoka Financial Group, Inc. | 7,126,725 | 147,108 | |
Goosehead Insurance, Inc., Class A1,2 | 1,878,432 | 118,135 | |
AUB Group, Ltd.1 | 5,844,493 | 115,151 | |
HDFC Asset Management Co., Ltd. | 3,962,374 | 110,943 | |
Affirm Holdings, Inc., Class A2,3 | 7,197,586 | 110,339 | |
BFF Bank SpA1 | 9,781,015 | 107,222 | |
TMX Group, Ltd. | 4,394,530 | 98,887 | |
VZ Holding AG | 1,063,345 | 97,984 | |
Canara Bank | 26,212,776 | 96,790 | |
Kinsale Capital Group, Inc. | 257,620 | 96,401 | |
Stifel Financial Corp. | 1,477,350 | 88,154 | |
Bridgepoint Group PLC | 33,404,779 | 85,892 | |
Patria Investments, Ltd., Class A | 5,700,216 | 81,513 | |
EVERTEC, Inc. | 2,199,027 | 80,990 | |
Banca Generali SpA3 | 2,272,605 | 78,327 | |
StepStone Group, Inc., Class A | 2,957,143 | 73,367 | |
AssetMark Financial Holdings, Inc.2 | 2,434,195 | 72,198 | |
SiriusPoint, Ltd.2 | 7,250,000 | 65,468 | |
Trupanion, Inc.1,2,3 | 3,297,206 | 64,889 | |
Remgro, Ltd. | 8,174,140 | 63,868 | |
Max Financial Services, Ltd.2 | 6,313,461 | 62,447 | |
JB Financial Group Co., Ltd. | 9,674,196 | 62,417 | |
Angel One, Ltd. | 2,934,353 | 61,532 | |
PagSeguro Digital, Ltd., Class A2,3 | 6,492,200 | 61,286 | |
Wintrust Financial Corp. | 811,602 | 58,939 | |
City Union Bank, Ltd. | 36,608,696 | 56,822 | |
Enstar Group, Ltd.2 | 231,978 | 56,658 |
SMALLCAP World Fund — Page 11 of 29
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Flywire Corp.2 | 1,773,502 | $55,050 | |
Selective Insurance Group, Inc. | 535,682 | 51,399 | |
Artisan Partners Asset Management, Inc., Class A | 1,277,000 | 50,199 | |
Radian Group, Inc. | 1,961,287 | 49,581 | |
SouthState Corp. | 730,763 | 48,084 | |
Banco del Bajio, SA | 15,500,000 | 47,106 | |
Webster Financial Corp.3 | 1,237,479 | 46,715 | |
Bolsa Mexicana de Valores, SAB de CV, Series A | 22,122,507 | 45,907 | |
Aptus Value Housing Finance India, Ltd. | 14,935,804 | 45,241 | |
XP, Inc., Class A2 | 1,867,000 | 43,800 | |
Shriram Finance, Ltd. | 2,026,102 | 42,880 | |
Alpha Services and Holdings SA2 | 26,000,000 | 42,626 | |
East West Bancorp, Inc. | 796,201 | 42,031 | |
Glacier Bancorp, Inc. | 1,301,829 | 40,578 | |
Capitec Bank Holdings, Ltd. | 482,170 | 40,160 | |
Euronext NV | 585,333 | 39,813 | |
Nova Ljubljanska Banka d.d. (GDR) | 2,365,833 | 38,090 | |
Five-Star Business Finance, Ltd.2 | 4,778,216 | 37,772 | |
Hilltop Holdings, Inc. | 1,200,000 | 37,752 | |
Victory Capital Holdings, Inc., Class A | 1,196,000 | 37,722 | |
Vontobel Holding AG | 580,901 | 36,925 | |
Boku, Inc.1,2,3,5 | 20,461,639 | 35,490 | |
Paymentus Holdings, Inc., Class A2 | 3,224,500 | 34,051 | |
Regional, SAB de CV, Class A | 4,615,995 | 33,445 | |
AJ Bell PLC | 8,000,000 | 32,610 | |
Moelis & Co., Class A3 | 719,000 | 32,600 | |
Aavas Financiers, Ltd.2 | 1,670,765 | 31,365 | |
Pine Labs Pte., Ltd.2,4,5 | 76,998 | 30,443 | |
Hiscox, Ltd. | 2,060,606 | 28,617 | |
Allfunds Group PLC | 4,612,088 | 28,198 | |
Piramal Enterprises, Ltd. | 2,392,000 | 27,503 | |
AvidXchange Holdings, Inc.2 | 2,445,867 | 25,388 | |
NMI Holdings, Inc.2 | 950,000 | 24,529 | |
Aditya Birla Capital Ltd.2 | 10,012,466 | 23,995 | |
The Tel Aviv Stock Exchange, Ltd.2 | 4,312,024 | 22,262 | |
Oscar Health, Inc., Class A2 | 2,751,000 | 22,173 | |
Columbia Banking System, Inc. | 1,063,800 | 21,574 | |
Hellenic Exchanges - Athens Stock Exchange SA1 | 3,500,000 | 19,667 | |
Collector Bank AB2 | 7,161,000 | 19,394 | |
Virtu Financial, Inc., Class A | 1,120,000 | 19,141 | |
Blackstone Mortgage Trust, Inc., Class A3 | 865,000 | 18,001 | |
Marqeta, Inc., Class A2 | 3,496,960 | 17,030 | |
Redwood Trust, Inc. REIT3 | 2,562,000 | 16,320 | |
Premium Group Co., Ltd. | 1,290,000 | 15,642 | |
Islandsbanki hf. | 16,632,054 | 13,923 | |
Linc AB2 | 2,358,208 | 13,793 | |
Houlihan Lokey, Inc., Class A | 112,959 | 11,105 | |
TCS Group Holding PLC (GDR)2 | 694,768 | 10,428 | |
TCS Group Holding PLC (GDR)2,7 | 31,700 | 476 | |
Funding Circle Holdings PLC2,3 | 14,713,073 | 10,517 | |
Discovery, Ltd.2 | 899,883 | 6,954 | |
eGuarantee, Inc. | 349,548 | 4,669 | |
Network International Holdings PLC2 | 794,702 | 3,868 | |
Independent Bank Group, Inc. | 112,000 | 3,867 |
SMALLCAP World Fund — Page 12 of 29
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Star Health & Allied Insurance Co., Ltd.2 | 400,000 | $2,857 | |
Antin Infrastructure Partners SA | 133,000 | 2,159 | |
6,724,920 | |||
Materials 3.92% | |||
APL Apollo Tubes, Ltd.1 | 15,782,000 | 251,134 | |
LANXESS AG1 | 6,907,704 | 207,997 | |
Lundin Mining Corp. | 21,804,953 | 170,851 | |
Materion Corp.1 | 1,314,343 | 150,098 | |
Zeon Corp.1 | 15,410,000 | 149,417 | |
FUJIMI INCORPORATED1 | 5,060,400 | 125,038 | |
JSR Corp. | 4,347,601 | 124,987 | |
Summit Materials, Inc., Class A | 3,005,612 | 113,762 | |
CCL Industries, Inc., Class B, nonvoting shares | 2,262,200 | 111,202 | |
ATI, Inc.2 | 1,858,485 | 82,201 | |
Livent Corp.2,3 | 2,949,801 | 80,913 | |
Navin Fluorine International, Ltd. | 1,381,948 | 75,884 | |
Gujarat Fluorochemicals, Ltd.2 | 2,027,660 | 72,548 | |
Sandstorm Gold, Ltd.3 | 13,980,111 | 71,578 | |
Jindal Steel & Power, Ltd.2 | 10,041,809 | 71,300 | |
Resonac Holdings Co., Ltd. | 3,891,600 | 63,299 | |
H.B. Fuller Co. | 866,200 | 61,942 | |
PI Industries, Ltd. | 1,212,000 | 57,974 | |
Kaneka Corp. | 1,819,300 | 51,061 | |
Kansai Paint Co., Ltd. | 2,984,900 | 43,941 | |
Yamato Kogyo Co., Ltd. | 987,400 | 42,268 | |
Huhtamäki OYJ | 1,275,000 | 41,880 | |
Anupam Rasayan India, Ltd. | 3,104,000 | 39,116 | |
Mayr-Melnhof Karton AG, non-registered shares | 226,797 | 33,202 | |
MMG, Ltd.2 | 98,292,430 | 28,545 | |
Labrador Iron Ore Royalty Corp.3 | 1,156,000 | 27,121 | |
Toyo Gosei Co., Ltd.3 | 357,177 | 25,550 | |
Cabot Corp. | 376,156 | 25,161 | |
SOL SpA | 799,680 | 23,100 | |
Aluflexpack AG1,2,3 | 1,309,666 | 22,839 | |
Indigo Paints, Ltd. | 1,214,500 | 21,198 | |
Vinati Organics, Ltd. | 943,000 | 20,966 | |
Alcoa Corp. | 600,000 | 20,358 | |
Re:NewCell AB1,2,3 | 2,691,474 | 20,011 | |
NV Bekaert SA | 423,000 | 19,174 | |
China Resources Cement Holdings, Ltd. | 36,412,000 | 15,054 | |
Shandong Sinocera Functional Material Co., Ltd., Class A | 3,764,153 | 14,198 | |
Aurubis AG | 136,100 | 11,662 | |
Gerdau SA (ADR) | 2,112,075 | 11,025 | |
Perimeter Solutions SA2,3 | 1,712,179 | 10,530 | |
Berger Paints India, Ltd. | 836,848 | 6,918 | |
Alleima AB | 1,509,740 | 6,878 | |
Fuso Chemical Co., Ltd. | 155,700 | 4,898 | |
MEC Co Ltd. | 128,900 | 3,180 | |
Recticel SA/NV3 | 216,597 | 2,576 | |
2,634,535 |
SMALLCAP World Fund — Page 13 of 29
unaudited
Common stocks (continued) Consumer staples 3.31% | Shares | Value (000) | |
Emmi AG1 | 318,222 | $306,787 | |
Simply Good Foods Co.1,2 | 5,870,500 | 214,802 | |
Grocery Outlet Holding Corp.1,2 | 5,593,981 | 171,232 | |
Royal Unibrew A/S | 1,722,194 | 154,020 | |
Varun Beverages, Ltd. | 11,595,366 | 113,743 | |
Redcare Pharmacy NV, non-registered shares1,2,3 | 1,028,712 | 106,447 | |
Sovos Brands, Inc.1,2 | 5,357,932 | 104,801 | |
John B. Sanfilippo & Son, Inc. | 745,776 | 87,457 | |
Celsius Holdings, Inc.2 | 561,414 | 83,757 | |
Milbon Co., Ltd.1 | 2,352,600 | 80,496 | |
Freshpet, Inc.2,3 | 1,197,331 | 78,796 | |
Ocado Group PLC2 | 10,398,813 | 75,127 | |
BJ’s Wholesale Club Holdings, Inc.2 | 1,106,224 | 69,703 | |
Scandinavian Tobacco Group A/S | 3,819,229 | 63,568 | |
Performance Food Group Co.2 | 928,000 | 55,903 | |
Raia Drogasil SA, ordinary nominative shares | 7,187,050 | 44,429 | |
Fever-Tree Drinks PLC | 2,410,000 | 37,424 | |
Kotobuki Spirits Co., Ltd. | 499,000 | 36,610 | |
Jonjee Hi-Tech Industrial and Commercial Holding Co., Ltd., Class A | 6,624,986 | 33,577 | |
Bakkafrost P/F | 517,500 | 30,962 | |
United Spirits, Ltd.2 | 2,672,208 | 29,768 | |
COSMOS Pharmaceutical Corp. | 287,909 | 29,140 | |
Vector Group, Ltd. | 2,207,896 | 28,283 | |
Fresh Del Monte Produce, Inc. | 1,028,000 | 26,430 | |
AAK AB | 1,348,970 | 25,380 | |
Sok Marketler Ticaret AS, non-registered shares2 | 17,239,152 | 22,181 | |
Avenue Supermarts, Ltd.2 | 417,313 | 19,819 | |
Humble Group AB1,2,3 | 22,368,627 | 13,569 | |
TreeHouse Foods, Inc.2 | 255,860 | 12,890 | |
Lotus Bakeries NV | 1,605 | 12,732 | |
PZ Cussons PLC3 | 6,017,310 | 12,406 | |
First Pacific Co., Ltd. | 35,296,000 | 12,248 | |
Century Pacific Food, Inc. | 25,901,000 | 12,008 | |
Icelandic Salmon AS2 | 515,000 | 7,437 | |
Elders, Ltd. | 1,622,450 | 7,155 | |
DocMorris AG2,3 | 54,100 | 2,358 | |
Beyond Meat, Inc.2,3 | 73,395 | 953 | |
2,224,398 | |||
Communication services 2.74% | |||
Iridium Communications, Inc. | 4,705,553 | 292,309 | |
Iridium Communications, Inc.2,7 | 636,132 | 39,516 | |
JCDecaux SE2 | 8,402,087 | 166,576 | |
Lions Gate Entertainment Corp., Class B2 | 18,316,562 | 152,943 | |
TIM SA | 44,951,132 | 137,251 | |
JYP Entertainment Corp. | 1,179,024 | 117,433 | |
Indosat Tbk PT | 189,444,701 | 109,011 | |
Hemnet Group AB1 | 5,513,708 | 96,505 | |
Frontier Communications Parent, Inc.2 | 4,792,898 | 89,340 | |
New York Times Co., Class A | 2,014,638 | 79,336 | |
Ubisoft Entertainment SA2 | 2,615,048 | 73,917 | |
Ascential PLC2 | 21,822,269 | 61,410 | |
Paradox Interactive AB | 2,179,420 | 55,020 | |
IHS Holding, Ltd.2 | 4,808,805 | 47,030 | |
YouGov PLC | 2,997,794 | 38,109 |
SMALLCAP World Fund — Page 14 of 29
unaudited
Common stocks (continued) Communication services (continued) | Shares | Value (000) | |
CTS Eventim AG & Co. KGaA | 599,179 | $37,840 | |
JOYY, Inc., Class A (ADR) | 1,177,618 | 36,165 | |
Rightmove PLC | 5,188,789 | 34,469 | |
Nextdoor Holdings, Inc., Class A2,3 | 6,859,318 | 22,361 | |
PLAYSTUDIOS, Inc., Class A2 | 4,500,000 | 22,095 | |
Schibsted ASA, Class A | 1,084,595 | 19,022 | |
Direct Marketing MIX, Inc.1,3 | 2,725,064 | 16,312 | |
Megacable Holdings, SAB de CV, ordinary participation certificates, units | 6,425,211 | 14,820 | |
Trustpilot Group PLC2 | 16,821,394 | 14,559 | |
Viaplay Group AB, Class B2 | 2,501,617 | 14,349 | |
Gogo, Inc.2 | 801,443 | 13,632 | |
Kadokawa Corp. | 560,300 | 13,438 | |
MTN Group, Ltd. | 1,458,066 | 10,729 | |
Toei Animation Co., Ltd.3 | 72,900 | 6,742 | |
PROTO Corp. | 633,400 | 5,019 | |
Boat Rocker Media, Inc.2,3 | 2,611,926 | 3,490 | |
1,840,748 | |||
Energy 2.64% | |||
MEG Energy Corp.2 | 13,539,541 | 214,629 | |
Vallourec SA1,2 | 12,863,658 | 151,861 | |
Weatherford International2 | 2,224,560 | 147,755 | |
Gaztransport & Technigaz SA | 1,215,724 | 123,795 | |
New Fortress Energy, Inc., Class A3 | 4,116,300 | 110,235 | |
Chesapeake Energy Corp.3 | 1,297,240 | 108,553 | |
Transocean, Ltd.2,3 | 10,647,250 | 74,637 | |
Venture Global LNG, Inc., Series C2,4,5 | 4,240 | 73,046 | |
TechnipFMC PLC2 | 4,383,111 | 72,847 | |
Northern Oil and Gas, Inc. | 2,000,000 | 68,640 | |
Championx Corp. | 2,025,494 | 62,871 | |
United Tractors Tbk PT | 39,344,500 | 61,729 | |
Golar LNG, Ltd. | 2,905,331 | 58,601 | |
Viper Energy Partners, LP | 2,076,470 | 55,712 | |
Cactus, Inc., Class A | 1,149,091 | 48,630 | |
Headwater Exploration, Inc.3 | 9,067,000 | 43,461 | |
Subsea 7 SA | 3,186,032 | 39,634 | |
Borr Drilling, Ltd.2,3 | 2,678,727 | 20,171 | |
Borr Drilling, Ltd. (NOK denominated)2,3 | 2,511,780 | 18,383 | |
Helmerich & Payne, Inc. | 1,043,270 | 36,984 | |
Denbury, Inc.2 | 406,329 | 35,050 | |
Equitrans Midstream Corp. | 3,390,447 | 32,413 | |
Savannah Energy PLC1,2,3,4 | 96,128,672 | 32,047 | |
Range Resources Corp. | 1,000,000 | 29,400 | |
Aegis Logistics, Ltd. | 6,611,784 | 25,894 | |
DT Midstream, Inc. | 356,000 | 17,647 | |
Pason Systems, Inc. | 1,596,000 | 13,843 | |
1,778,468 | |||
Real estate 1.68% | |||
DigitalBridge Group, Inc., Class A1 | 8,972,247 | 131,982 | |
Altus Group, Ltd.1 | 3,670,044 | 121,702 | |
Corp. Inmobiliaria Vesta, SAB de CV | 28,130,095 | 91,258 | |
Corp. Inmobiliaria Vesta, SAB de CV (ADR) | 253,400 | 8,165 | |
Embassy Office Parks REIT | 25,517,056 | 90,543 | |
PotlatchDeltic Corp. REIT | 1,576,968 | 83,343 |
SMALLCAP World Fund — Page 15 of 29
unaudited
Common stocks (continued) Real estate (continued) | Shares | Value (000) | |
Concentradora Fibra Danhos REIT, SA de CV3 | 47,414,482 | $59,666 | |
ESR-Logos REIT | 222,463,669 | 55,107 | |
JHSF Participações SA1 | 48,472,472 | 51,528 | |
Macrotech Developers, Ltd. | 5,957,676 | 49,441 | |
Multiplan Empreendimentos Imobiliários SA, ordinary nominative shares | 7,237,633 | 41,825 | |
Four Corners Property Trust, Inc. REIT | 1,582,553 | 40,197 | |
Fibra Uno Administración REIT, SA de CV | 25,000,000 | 36,513 | |
SRE Holdings Corp.1,2,3 | 1,290,828 | 34,531 | |
Mindspace Business Parks REIT | 9,000,000 | 33,877 | |
Zillow Group, Inc., Class C, nonvoting shares2 | 525,000 | 26,386 | |
K-Fast Holding AB, Class B1,2,3 | 12,909,607 | 23,103 | |
LXP Industrial Trust REIT | 2,175,000 | 21,206 | |
TAG Immobilien AG2 | 2,094,112 | 19,790 | |
StorageVault Canada, Inc. | 4,307,048 | 19,020 | |
St. Joe Co. | 307,281 | 14,854 | |
CTP NV | 1,113,342 | 14,454 | |
Fastighets AB Balder, Class B2 | 3,821,000 | 13,963 | |
Swedish Logistic Property AB, Class B2 | 4,739,069 | 11,632 | |
Ayala Land, Inc. | 21,494,200 | 9,474 | |
Douglas Elliman, Inc. | 4,216,866 | 9,361 | |
Genova Property Group AB2 | 2,126,731 | 9,017 | |
Samhallsbyggnadsbolaget i Norden AB, Class B | 19,220,175 | 7,362 | |
Safestore Holdings PLC | 322,271 | 3,481 | |
1,132,781 | |||
Utilities 0.70% | |||
Black Hills Corp. | 2,038,746 | 122,855 | |
Brookfield Infrastructure Corp., Class A, subordinate voting shares3 | 1,996,616 | 91,048 | |
ACEN Corp.2 | 879,779,932 | 86,118 | |
Neoenergia SA | 13,037,148 | 57,804 | |
SembCorp Industries, Ltd. | 13,415,085 | 57,097 | |
ENN Energy Holdings, Ltd. | 3,166,000 | 39,565 | |
SJW Group | 242,255 | 16,984 | |
Mytrah Energy, Ltd.1,2,4 | 10,418,000 | 132 | |
471,603 | |||
Total common stocks (cost: $45,537,815,000) | 62,035,138 | ||
Preferred securities 0.84% Information technology 0.32% | |||
Outreach Corp., Series G, preferred shares2,4,5 | 1,554,053 | 41,291 | |
Skyryse, Inc., Series B, preferred shares1,2,4,5 | 1,649,110 | 40,700 | |
PsiQuantum Corp., Series D, preferred shares2,4,5 | 1,334,542 | 35,766 | |
SiFive, Inc., Series F, preferred shares2,4,5 | 3,451,632 | 25,922 | |
ANDPAD, Inc., Series D, preferred shares2,4,5 | 459,413 | 23,339 | |
Patreon, Inc., Series E, preferred shares2,4,5 | 698,208 | 14,292 | |
Patreon, Inc., Series Seed, preferred shares2,4,5 | 163,096 | 3,339 | |
Yotpo, Ltd., Series F, preferred shares2,4,5 | 8,332,809 | 11,333 | |
Yotpo, Ltd., Series B, preferred shares2,4,5 | 1,111,347 | 1,511 | |
Yotpo, Ltd., Series C, preferred shares2,4,5 | 1,057,985 | 1,439 | |
Yotpo, Ltd., Series A-1, preferred shares2,4,5 | 709,592 | 965 | |
Yotpo, Ltd., Series A, preferred shares2,4,5 | 345,899 | 470 | |
Yotpo, Ltd., Series C-1, preferred shares2,4,5 | 293,302 | 399 | |
Yotpo, Ltd., Series D, preferred shares2,4,5 | 163,552 | 222 |
SMALLCAP World Fund — Page 16 of 29
unaudited
Preferred securities (continued) Information technology (continued) | Shares | Value (000) | |
Yotpo, Ltd., Series B-1, preferred shares2,4,5 | 130,625 | $178 | |
Kandou Holding SA, Series D, preferred shares2,4,5 | 2,142,857 | 12,750 | |
213,916 | |||
Industrials 0.19% | |||
Einride AB, Series B, preferred shares2,4,5 | 1,334,588 | 47,577 | |
Einride AB, Series A, preferred shares2,4,5 | 11,990 | 428 | |
Relativity Space, Inc., Series D, preferred shares2,4,5 | 2,143,751 | 31,342 | |
Relativity Space, Inc., Series E, preferred shares2,4,5 | 464,197 | 6,786 | |
ABL Space Systems Co., Series B, preferred shares2,4,5 | 777,162 | 24,815 | |
WorkRise Technologies, Inc., Series E, preferred shares2,4,5 | 95,423 | 19,839 | |
130,787 | |||
Health care 0.16% | |||
Laronde, Inc., Series B, 6.00% preferred shares2,4,5 | 1,785,714 | 40,411 | |
KRY International AB, Series E1, preferred shares2,4,5 | 114,059 | 27,893 | |
InSilico Medicine Cayman TopCo, Series D, preferred shares2,4,5 | 605,423 | 18,641 | |
Bluestar Genomics, Inc., Series C, 5.00% noncumulative preferred shares1,2,4,5 | 1,531,102 | 11,330 | |
Artiva Biotherapeutics, Inc., Series B, preferred shares2,4,5 | 636,364 | 6,408 | |
PACT Pharma, Inc., Series C, 8.00% noncumulative preferred shares2,4,5 | 4,397,107 | 294 | |
104,977 | |||
Financials 0.10% | |||
PPRO Holding GmbH, Series B-1, 8.00% preferred shares1,2,4,5 | 13,618 | 43,679 | |
Pine Labs Pte., Ltd., Series J, cumulative preferred shares2,4,5 | 57,100 | 22,576 | |
66,255 | |||
Real estate 0.05% | |||
QuintoAndar, Ltd., Series E-1, preferred shares2,4,5 | 244,733 | 35,178 | |
Consumer discretionary 0.02% | |||
StockX, Inc., Series E-1, preferred shares2,4,5 | 222,222 | 10,831 | |
StockX, Inc., Series AA, preferred shares2,4,5 | 57,338 | 2,795 | |
StockX, Inc., Series B, preferred shares2,4,5 | 3,094 | 151 | |
13,777 | |||
Total preferred securities (cost: $660,527,000) | 564,890 | ||
Rights & warrants 0.16% Information technology 0.09% | |||
OPT Machine Vision Tech Co., Ltd., Class A, warrants, expire 1/27/20252,7 | 2,838,640 | 64,514 | |
Foursquare Labs, Inc., Series A, warrants, expire 12/4/20332,4,5 | 1,163,990 | 15 | |
64,529 | |||
Industrials 0.07% | |||
Warom Technology, Inc. Co., Class A, warrants, expire 8/31/20232,7 | 8,603,931 | 31,565 | |
Centre Testing International Group Co., Ltd., Class A, warrants, expire 3/20/20242,7 | 3,799,918 | 10,211 | |
Guangzhou Baiyun International Airport Co., Ltd., Class A, warrants, expire 8/23/20242,7 | 1,315,742 | 2,602 | |
Momentus, Inc., warrants, expire 5/15/20262 | 2,225,000 | 45 | |
44,423 | |||
Total rights & warrants (cost: $112,140,000) | 108,952 |
SMALLCAP World Fund — Page 17 of 29
unaudited
Convertible stocks 0.09% Utilities 0.05% | Shares | Value (000) | |
TAE Technologies, Inc., Series G2, 4.00% cumulative convertible preferred shares4,5 | 300,000 | $30,000 | |
Information technology 0.04% | |||
Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares4,5 | 14,888,589 | 15,922 | |
Tarana Wireless, Inc.4,5 | 935,103 | 1,000 | |
RealSelf, Inc., Series C, convertible preferred shares1,4,5 | 3,468,862 | 11,412 | |
28,334 | |||
Total convertible stocks (cost: $62,179,000) | 58,334 | ||
Convertible bonds & notes 0.00% Health care 0.00% | Principal amount (000) | ||
Bluestar Genomics, Inc., convertible notes, 8.00% 10/28/20251,4,5 | USD2,000 | 2,000 | |
Total convertible bonds & notes (cost: $2,000,000) | 2,000 | ||
Short-term securities 7.77% Money market investments 6.74% | Shares | ||
Capital Group Central Cash Fund 5.15%1,8 | 45,306,332 | 4,531,086 | |
Money market investments purchased with collateral from securities on loan 1.03% | |||
Capital Group Central Cash Fund 5.15%1,8,9 | 1,662,005 | 166,217 | |
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 5.05%8,9 | 92,192,044 | 92,192 | |
Dreyfus Treasury Obligations Cash Management, Institutional Shares 5.00%8,9 | 83,600,000 | 83,600 | |
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.01%8,9 | 83,600,000 | 83,600 | |
BlackRock Liquidity Funds – FedFund, Institutional Shares 4.99%8,9 | 69,700,000 | 69,700 | |
Fidelity Investments Money Market Government Portfolio, Class I 4.99%8,9 | 62,700,000 | 62,700 | |
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.03%8,9 | 62,700,000 | 62,700 | |
Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 5.03%8,9 | 55,700,000 | 55,700 | |
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 4.99%8,9 | 20,900,000 | 20,900 | |
697,309 | |||
Total short-term securities (cost: $5,227,275,000) | 5,228,395 | ||
Total investment securities 101.12% (cost: $51,601,936,000) | 67,997,709 | ||
Other assets less liabilities (1.12)% | (755,626 ) | ||
Net assets 100.00% | $67,242,083 |
SMALLCAP World Fund — Page 18 of 29
unaudited
Investments in affiliates1
Value of affiliates at 10/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value of affiliates at 6/30/2023 (000) | Dividend or interest income (000) | |
Common stocks 26.24% | |||||||
Industrials 7.27% | |||||||
Saia, Inc.2 | $373,449 | $29,281 | $20,497 | $4,056 | $313,597 | $699,886 | $— |
Diploma PLC | 247,981 | 61,003 | 28,487 | — | 126,637 | 407,134 | 6,875 |
Comfort Systems USA, Inc. | 248,847 | 60,810 | 85,276 | 17,004 | 146,269 | 387,654 | 1,267 |
Interpump Group SpA | 170,547 | 85,232 | 1,727 | 9 | 125,835 | 379,896 | 1,906 |
The AZEK Co., Inc., Class A2 | 94,533 | 122,202 | — | — | 141,547 | 358,282 | — |
ATS Corp.2,10 | 149,940 | 55,215 | — | — | 132,529 | 337,684 | — |
Wizz Air Holdings PLC2 | 124,398 | 13,340 | 17,783 | (9,942 ) | 135,709 | 245,722 | — |
Arcosa, Inc. | 220,883 | 299 | 38,923 | (423 ) | 60,417 | 242,253 | 546 |
Harmonic Drive Systems, Inc. | 153,146 | 29,725 | 8,604 | 1,039 | 10,192 | 185,498 | 756 |
EnPro Industries, Inc. | 123,697 | 5,677 | 17,648 | 339 | 69,943 | 182,008 | 1,143 |
Carel Industries SpA | 112,363 | 30,581 | 23,626 | 13,008 | 47,508 | 179,834 | 969 |
Visional, Inc.2,3 | 184,944 | 3,453 | — | — | (17,502 ) | 170,895 | — |
Kadant, Inc. | 95,935 | 27,142 | 18,155 | (1,089 ) | 32,045 | 135,878 | 450 |
DO & CO AG, non-registered shares | 51,410 | — | — | — | 55,092 | 106,502 | — |
Instalco AB3 | 71,184 | 11,990 | 7,809 | (1,411 ) | 21,449 | 95,403 | 1,337 |
Enerpac Tool Group Corp., Class A | — | 88,183 | — | — | 2,088 | 90,271 | — |
dip Corp. | 85,046 | — | — | — | (1,550 ) | 83,496 | 1,090 |
Daiseki Co., Ltd. | 10,758 | 76,900 | — | — | (6,016 ) | 81,642 | 443 |
Volution Group PLC | 50,954 | — | — | — | 24,442 | 75,396 | 1,432 |
Johns Lyng Group, Ltd. | 81,872 | 1,170 | — | — | (8,666 ) | 74,376 | 640 |
Upwork, Inc.2 | 24,381 | 78,421 | — | — | (32,146 ) | 70,656 | — |
Japan Elevator Service Holdings Co., Ltd. | 91,582 | 22,420 | 48,197 | (18,827 ) | 20,350 | 67,328 | 886 |
Montana Aerospace AG2 | 34,688 | 652 | — | — | 19,106 | 54,446 | — |
Marlowe PLC2,3 | 61,893 | — | — | — | (12,778 ) | 49,115 | — |
NORMA Group SE, non-registered shares | — | 53,911 | — | — | (11,871 ) | 42,040 | 1,031 |
Fasadgruppen Group AB | 29,797 | 805 | — | — | 629 | 31,231 | 653 |
Norva24 Group AB2 | 4,708 | 21,701 | — | — | (4,871 ) | 21,538 | — |
Dreamfolks Services, Ltd.2 | 10,390 | 10,444 | 9,015 | — | 9,433 | 21,252 | — |
TDCX, Inc., Class A (ADR)2 | 16,688 | — | 280 | (35 ) | (2,545 ) | 13,828 | — |
Alfen NV2,3,11 | 109,251 | — | 17,033 | 14,921 | (38,640 ) | — | — |
Antares Vision SpA2,11 | 37,577 | — | — | — | 2,107 | — | — |
Armstrong World Industries, Inc.11 | 228,843 | 13,085 | 81,365 | (31,150 ) | 15,422 | — | 1,536 |
BayCurrent Consulting, Inc.11 | 296,667 | 15,448 | 180,718 | 56,625 | 76,490 | — | 1,708 |
Einride AB2,4,5,11 | 17,834 | 1,604 | — | — | (3,814 ) | — | — |
Interface, Inc.12 | 42,442 | — | 48,469 | (7,870 ) | 13,897 | — | 47 |
Japan Airport Terminal Co., Ltd.11 | 204,235 | 52,224 | 133,863 | (2,009 ) | 28,931 | — | 561 |
KEI Industries, Ltd.11 | 79,713 | — | 25,833 | 8,083 | 31,865 | — | 143 |
Midac Holdings Co., Ltd.11 | 42,395 | — | 10,397 | (5,589 ) | (13,160 ) | — | 56 |
Montrose Environmental Group, Inc.12 | 54,645 | — | 55,334 | 312 | 377 | — | — |
Pegasus Hava Tasimaciligi AS12 | 68,307 | — | 113,674 | 62,804 | (17,437 ) | — | — |
Reliance Worldwide Corp., Ltd.11 | — | 95,873 | 19,154 | 1,434 | 20,578 | — | 1,691 |
Skymark Airlines, Inc.12 | — | 39,196 | 36,719 | (2,477 ) | — | — | — |
4,891,144 | |||||||
Consumer discretionary 5.41% | |||||||
TopBuild Corp.2 | 349,352 | 55,625 | — | — | 250,129 | 655,106 | — |
Tube Investments of India, Ltd. | 410,555 | — | 18,971 | 9,846 | 48,852 | 450,282 | 281 |
YETI Holdings, Inc.2 | 196,619 | 248 | 4,956 | (4,102 ) | 75,039 | 262,848 | — |
SMALLCAP World Fund — Page 19 of 29
unaudited
Investments in affiliates1 (continued)
Value of affiliates at 10/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value of affiliates at 6/30/2023 (000) | Dividend or interest income (000) | |
IDP Education, Ltd. | $200,438 | $67,701 | $18,558 | $(5,513 ) | $(32,162 ) | $211,906 | $1,972 |
WH Smith PLC | 108,181 | 19,727 | — | — | 56,325 | 184,233 | 969 |
Cavco Industries, Inc.2 | 35,158 | 105,442 | — | — | 33,096 | 173,696 | — |
Kindred Group PLC (SDR) | 119,302 | 44,848 | 50,525 | (13,544 ) | 63,025 | 163,106 | 6,240 |
Pets at Home Group PLC | 96,500 | — | — | — | 62,175 | 158,675 | 5,279 |
Boot Barn Holdings, Inc.2 | 23,209 | 98,010 | — | — | 30,139 | 151,358 | — |
Jack in the Box, Inc. | 93,084 | 15,843 | — | — | 30,432 | 139,359 | 1,731 |
NEXTAGE Co., Ltd.3 | 100,390 | 39,516 | — | — | (15,203 ) | 124,703 | 829 |
MakeMyTrip, Ltd., non-registered shares2 | 119,017 | 18,521 | — | — | (14,295 ) | 123,243 | — |
Watches of Switzerland Group PLC2 | 71,302 | 58,551 | — | — | (9,731 ) | 120,122 | — |
Malibu Boats, Inc., Class A2 | 40,840 | 43,982 | — | — | 11,908 | 96,730 | — |
Golden Entertainment, Inc.2 | 66,178 | 15,374 | — | — | 12,677 | 94,229 | — |
Domino’s Pizza Group PLC | 60,604 | 6,456 | — | — | 25,208 | 92,268 | 2,137 |
Auction Technology Group PLC2 | 76,577 | 1,173 | — | — | 14,304 | 92,054 | — |
Shoei Co., Ltd. | 44,358 | 35,130 | — | — | 68 | 79,556 | 54 |
Victoria PLC2 | 33,462 | 11,466 | — | — | 23,919 | 68,847 | — |
Beazer Homes USA, Inc.2 | 16,050 | — | — | — | 30,906 | 46,956 | — |
Musti Group OYJ | 46,469 | — | 4,664 | (5,825 ) | 10,953 | 46,933 | 651 |
Snow Peak, Inc.3 | 46,400 | — | — | — | (6,629 ) | 39,771 | 272 |
AcadeMedia AB | 28,256 | 3,991 | 608 | (173 ) | 2,947 | 34,413 | 1,087 |
Traeger, Inc.2 | 14,732 | 2,892 | — | — | 8,705 | 26,329 | — |
BNN Technology PLC2,4 | — 6 | — | — | — | — 6 | — 6 | — |
Bajaj Electricals, Ltd.12 | 96,037 | — | 86,795 | 54,712 | (63,954 ) | — | — |
Bike24 Holding AG12 | 7,135 | — | 8,943 | (44,529 ) | 46,337 | — | — |
Everi Holdings, Inc.2,11 | 79,809 | — | 59,578 | 39,213 | (38,978 ) | — | — |
Helen of Troy, Ltd.2,11 | 139,040 | 14,057 | 46,939 | (49,524 ) | 59,622 | — | — |
JOANN, Inc.12 | 18,068 | — | 4,531 | (29,418 ) | 15,881 | — | — |
Lojas Quero-Quero SA12 | 16,156 | — | 12,481 | (20,490 ) | 16,815 | — | — |
Porch Group, Inc.12 | 12,420 | — | 6,554 | (27,491 ) | 21,625 | — | — |
3,636,723 | |||||||
Information technology 4.94% | |||||||
eMemory Technology, Inc. | 227,400 | — | 30,433 | (3,110 ) | 231,556 | 425,413 | 3,924 |
Smartsheet, Inc., Class A2 | 218,334 | 60,792 | — | — | 23,787 | 302,913 | — |
ALTEN SA, non-registered shares | 190,817 | 9,988 | — | — | 87,276 | 288,081 | — |
Kulicke and Soffa Industries, Inc. | 184,251 | — | 3,860 | (1,904 ) | 100,891 | 279,378 | 2,679 |
Fabrinet, non-registered shares2 | 183,194 | 9,273 | 16,323 | (2,077 ) | 66,835 | 240,902 | — |
Rogers Corp.2 | — | 191,504 | — | — | 15,096 | 206,600 | — |
Credo Technology Group Holding, Ltd.2 | 90,141 | 33,123 | — | — | 75,549 | 198,813 | — |
SINBON Electronics Co., Ltd. | 80,772 | 93,322 | 47,970 | 3,693 | 42,747 | 172,564 | — |
Nordic Semiconductor ASA2 | 112,390 | 78,435 | — | — | (22,660 ) | 168,165 | — |
Keywords Studios PLC | 130,461 | 34,793 | — | — | (21,725 ) | 143,529 | 169 |
Money Forward, Inc.2 | 75,953 | 9,647 | 13,716 | (6,675 ) | 74,948 | 140,157 | — |
Net One Systems Co., Ltd. | 99,485 | 32,545 | 16,492 | (1,522 ) | 16,124 | 130,140 | 1,855 |
Tanla Platforms, Ltd. | 87,331 | — | — | — | 27,422 | 114,753 | — |
Dexerials Corp. | 116,270 | — | — | — | (2,915 ) | 113,355 | 1,360 |
Semtech Corp.2 | 17,205 | 80,844 | 17,411 | (3,091 ) | 15,144 | 92,691 | — |
Bytes Technology Group PLC | 70,523 | 19,867 | 24,952 | (14,740 ) | 41,101 | 91,799 | 448 |
PAR Technology Corp.2,3 | 63,196 | — | 10,462 | (13,982 ) | 21,841 | 60,593 | — |
Mastek, Ltd. | 50,944 | — | — | — | 6,076 | 57,020 | 205 |
SMALLCAP World Fund — Page 20 of 29
unaudited
Investments in affiliates1 (continued)
Value of affiliates at 10/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value of affiliates at 6/30/2023 (000) | Dividend or interest income (000) | |
Megaport, Ltd.2 | $44,425 | $— | $— | $— | $118 | $44,543 | $— |
SmartCraft ASA, Class A2,3 | 18,628 | 707 | — | — | 9,854 | 29,189 | — |
Noventiq Holdings PLC (GDR)4,7,10 | 8,810 | — | — | — | 11,813 | 20,623 | — |
Noventiq Holdings PLC (GDR)2,4,10 | 8 | — | — | — | 11 | 19 | — |
Cherry SE2,3,11 | 7,364 | — | 1,318 | (8,744 ) | 7,492 | — | — |
Crayon Group Holding ASA2,11 | 50,857 | — | 45,890 | (46,411 ) | 48,499 | — | — |
Extreme Networks, Inc.2,11 | 113,015 | 2,466 | 125,756 | 42,964 | 14,362 | — | — |
Global Unichip Corp.11 | 183,868 | — | 82,524 | 27,104 | 219,553 | — | 3,243 |
MotorK, Ltd.12 | 5,468 | — | 5,495 | (11,784 ) | 11,811 | — | — |
Socionext, Inc.3,11 | — | 91,387 | 119,720 | 69,041 | 181,643 | — | 3,185 |
WeCommerce Holdings, Ltd., Class A12 | 3,060 | — | 5,475 | (14,619 ) | 17,034 | — | — |
Zuken, Inc.11 | 44,123 | 242 | 24,219 | (8,377 ) | 9,703 | — | 170 |
3,321,240 | |||||||
Health care 3.00% | |||||||
Max Healthcare Institute, Ltd.2 | 335,885 | 10,150 | 104,700 | 24,850 | 109,907 | 376,092 | — |
CONMED Corp.3 | 123,341 | 67,975 | — | — | 115,397 | 306,713 | 1,272 |
Haemonetics Corp.2 | 303,065 | 5,077 | 85,469 | 9,558 | 29,231 | 261,462 | — |
Xenon Pharmaceuticals, Inc.2 | 141,421 | 24,683 | — | — | 10,859 | 176,963 | — |
Revance Therapeutics, Inc.2 | 170,476 | 9,485 | 8,176 | 1,443 | (11,792 ) | 161,436 | — |
Amvis Holdings, Inc. | 115,541 | — | 6,689 | (2,851 ) | 42,760 | 148,761 | — |
Tandem Diabetes Care, Inc.2 | 102,423 | 93,234 | — | — | (84,602 ) | 111,055 | — |
Zentalis Pharmaceuticals, Inc.2 | 14,794 | 69,829 | — | — | 22,878 | 107,501 | — |
Silk Road Medical, Inc.2 | 125,623 | 7,530 | — | — | (36,764 ) | 96,389 | — |
Surgical Science Sweden AB2 | 43,622 | — | — | — | 29,508 | 73,130 | — |
Netcare, Ltd. | 40,809 | 15,129 | — | — | 395 | 56,333 | 1,119 |
Jeisys Medical, Inc.2 | 2,730 | 30,391 | — | — | 11,845 | 44,966 | — |
BONESUPPORT Holding AB2 | 17,459 | 8,815 | — | — | 15,078 | 41,352 | — |
Ocumension Therapeutics2,3 | 48,977 | — | — | — | (12,208 ) | 36,769 | — |
Nordhealth AS, Class A2 | 9,375 | — | — | — | 2,511 | 11,886 | — |
Precision BioSciences, Inc.2 | 8,730 | — | — | — | (5,198 ) | 3,532 | — |
Addus HomeCare Corp.12 | 89,421 | — | 84,351 | (2,094 ) | (2,976 ) | — | — |
Creo Medical Group PLC2,11 | 6,962 | — | 2,761 | (17,217 ) | 14,661 | — | — |
Genus PLC11 | 64,841 | 41,556 | 15,404 | (8,395 ) | (845 ) | — | 1,128 |
New Horizon Health, Ltd.2,3,11 | 42,209 | — | 28,207 | (35,025 ) | 65,223 | — | — |
Medmix AG11 | 40,482 | — | 26,249 | (40,247 ) | 50,264 | — | 514 |
2,014,340 | |||||||
Financials 1.78% | |||||||
Essent Group, Ltd. | 197,178 | 120,202 | — | — | 85,327 | 402,707 | 5,583 |
IIFL Finance, Ltd. | 99,987 | 27,326 | — | — | 47,224 | 174,537 | 1,367 |
360 ONE WAM, Ltd.10 | 98,842 | 61,596 | — | — | (2,539 ) | 157,899 | 3,773 |
Goosehead Insurance, Inc., Class A2 | 29,879 | 43,946 | 491 | (955 ) | 45,756 | 118,135 | — |
AUB Group, Ltd. | 62,367 | 10,704 | — | — | 42,080 | 115,151 | 628 |
BFF Bank SpA | — | 96,920 | — | — | 10,302 | 107,222 | 3,369 |
Trupanion, Inc.2,3 | 190,990 | 12,148 | 11,766 | (22,641 ) | (103,842 ) | 64,889 | — |
Boku, Inc.2,3,5 | 25,379 | — | — | — | 10,111 | 35,490 | — |
Hellenic Exchanges - Athens Stock Exchange SA | 10,361 | — | — | — | 9,306 | 19,667 | 591 |
Aavas Financiers, Ltd.2,11 | 165,167 | 6,849 | 78,149 | (45,656 ) | (16,846 ) | — | — |
Independent Bank Group, Inc.11 | 132,980 | 3,339 | 89,997 | (43,231 ) | 776 | — | 1,844 |
Network International Holdings PLC2,11 | 108,706 | 45,558 | 194,711 | 1,040 | 43,275 | — | — |
SMALLCAP World Fund — Page 21 of 29
unaudited
Investments in affiliates1 (continued)
Value of affiliates at 10/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value of affiliates at 6/30/2023 (000) | Dividend or interest income (000) | |
Patria Investments, Ltd., Class A11 | $90,226 | $4,408 | $21,417 | $(3,727 ) | $12,023 | $— | $4,535 |
Seacoast Banking Corporation of Florida12 | 125,663 | 19,495 | 111,167 | (19,896 ) | (14,095 ) | — | 1,541 |
1,195,697 | |||||||
Materials 1.38% | |||||||
APL Apollo Tubes, Ltd. | 198,170 | 3,132 | — | — | 49,832 | 251,134 | — |
LANXESS AG | 144,010 | 77,795 | — | — | (13,808 ) | 207,997 | 7,139 |
Materion Corp. | 9,723 | 102,144 | — | — | 38,231 | 150,098 | 368 |
Zeon Corp. | — | 155,599 | — | — | (6,182 ) | 149,417 | 1,721 |
FUJIMI INCORPORATED | 25,022 | 57,668 | — | — | 42,348 | 125,038 | 1,340 |
Aluflexpack AG2,3 | 23,652 | — | — | — | (813 ) | 22,839 | — |
Re:NewCell AB2,3 | 17,542 | 1,558 | 2,156 | (4,069 ) | 7,136 | 20,011 | — |
Perimeter Solutions SA2,3,11 | 94,450 | 45,130 | 116,481 | (29,442 ) | 16,873 | — | — |
Toyo Gosei Co., Ltd.3,11 | 28,289 | — | 18,456 | (12,703 ) | 28,420 | — | 97 |
Venator Materials PLC12 | 7,497 | — | 3,820 | (18,180 ) | 14,503 | — | — |
926,534 | |||||||
Consumer staples 1.48% | |||||||
Emmi AG | 247,648 | — | — | — | 59,139 | 306,787 | 5,160 |
Simply Good Foods Co.2 | 184,598 | 3,897 | — | — | 26,307 | 214,802 | — |
Grocery Outlet Holding Corp.2 | 196,915 | 9,075 | 18,052 | (3,143 ) | (13,563 ) | 171,232 | — |
Redcare Pharmacy NV, non-registered shares2,3,10 | 46,389 | — | 11,287 | (1,155 ) | 72,500 | 106,447 | — |
Sovos Brands, Inc.2 | 71,925 | 4,150 | — | — | 28,726 | 104,801 | — |
Milbon Co., Ltd. | 104,902 | — | 876 | (782 ) | (22,748 ) | 80,496 | 1,472 |
Humble Group AB2,3 | 9,409 | 6,775 | — | — | (2,615 ) | 13,569 | — |
Sok Marketler Ticaret AS, non-registered shares2,11 | 41,357 | — | 28,297 | 305 | 8,816 | — | — |
998,134 | |||||||
Communication services 0.17% | |||||||
Hemnet Group AB | 32,459 | 40,238 | — | — | 23,808 | 96,505 | 506 |
Direct Marketing MIX, Inc.3 | 27,521 | 13,019 | 5,750 | (5,268 ) | (13,210 ) | 16,312 | 374 |
Pebble Group PLC12 | 13,532 | — | 14,304 | (4,473 ) | 5,245 | — | — |
112,817 | |||||||
Energy 0.27% | |||||||
Vallourec SA2 | 96,289 | 39,204 | — | — | 16,368 | 151,861 | — |
Savannah Energy PLC2,3,4 | 29,272 | — | — | — | 2,775 | 32,047 | — |
Northern Oil and Gas, Inc.11 | 165,940 | — | 128,799 | 71,427 | (39,928 ) | — | 4,343 |
183,908 | |||||||
Real estate 0.54% | |||||||
DigitalBridge Group, Inc., Class A | 96,429 | 21,142 | 3,346 | (5,321 ) | 23,078 | 131,982 | 263 |
Altus Group, Ltd. | 117,322 | 10,818 | 9,062 | (1,923 ) | 4,547 | 121,702 | 1,216 |
JHSF Participações SA | 65,466 | 1,029 | — | — | (14,967 ) | 51,528 | 3,197 |
SRE Holdings Corp.2,3 | 27,781 | — | — | — | 6,750 | 34,531 | — |
K-Fast Holding AB, Class B2,3 | 24,470 | — | — | — | (1,367 ) | 23,103 | — |
Genova Property Group AB2,11 | 10,794 | — | — | — | (1,777 ) | — | — |
362,846 | |||||||
Utilities 0.00% | |||||||
Mytrah Energy, Ltd.2,4 | 116 | — | — | — | 16 | 132 | — |
Total common stocks | 17,643,515 |
SMALLCAP World Fund — Page 22 of 29
unaudited
Investments in affiliates1 (continued)
Value of affiliates at 10/1/2022 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value of affiliates at 6/30/2023 (000) | Dividend or interest income (000) | |
Preferred securities 0.14% | |||||||
Information technology 0.06% | |||||||
Skyryse, Inc., Series B, preferred shares2,4,5 | $40,700 | $— | $— | $— | $— | $40,700 | $— |
Industrials 0.00% | |||||||
Relativity Space, Inc., Series D, preferred shares2,4,5,11 | 39,166 | — | — | — | (7,824 ) | — | — |
Relativity Space, Inc., Series E, preferred shares2,4,5,11 | 8,481 | — | — | — | (1,695 ) | — | — |
Einride AB, Series A, preferred shares2,4,5,11 | 547 | — | — | — | (119 ) | — | — |
Einride AB, Series B, preferred shares2,4,5,11 | 60,860 | — | — | — | (13,283 ) | — | — |
— | |||||||
Health care 0.02% | |||||||
Bluestar Genomics, Inc., Series C, 5.00% noncumulative preferred shares2,4,5 | 9,814 | — | — | — | 1,516 | 11,330 | — |
Financials 0.06% | |||||||
PPRO Holding GmbH, Series B-1, 8.00% preferred shares2,4,5 | 57,732 | — | — | — | (14,053 ) | 43,679 | — |
Total preferred securities | 95,709 | ||||||
Convertible stocks 0.02% | |||||||
Information technology 0.02% | |||||||
RealSelf, Inc., Series C, convertible preferred shares4,5 | 10,163 | — | — | — | 1,249 | 11,412 | — |
Convertible bonds & notes 0.00% | |||||||
Health care 0.00% | |||||||
Bluestar Genomics, Inc., convertible notes, 8.00% 10/28/20254,5 | — | 2,000 | — | — | — | 2,000 | 108 |
Einride AB, convertible notes, 7.00% 202312 | 1,895 | — | 1,500 | — | (395 ) | — | 32 |
2,000 | |||||||
Short-term securities 6.99% | |||||||
Money market investments 6.74% | |||||||
Capital Group Central Cash Fund 5.15%8 | 4,775,818 | 4,259,806 | 4,505,470 | (115 ) | 1,047 | 4,531,086 | 139,581 |
Money market investments purchased with collateral from securities on loan 0.25% | |||||||
Capital Group Central Cash Fund 5.15%8,9 | 290,972 | 124,755 13 | 166,217 | — 14 | |||
Total short-term securities | 4,697,303 | ||||||
Total 33.39% | $(212,146 ) | $4,460,482 | $22,449,939 | $260,087 |
Restricted securities5
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Venture Global LNG, Inc., Series C2,4 | 5/1/2015 | $12,720 | $73,046 | .11 % |
Einride AB, Series B, preferred shares2,4 | 3/23/2021-5/6/2021 | 18,753 | 47,577 | .07 |
Einride AB2,4 | 7/16/2021-2/1/2023 | 10,542 | 15,624 | .02 |
Einride AB, Series A, preferred shares2,4 | 10/11/2021 | 311 | 428 | .00 15 |
Pine Labs Pte., Ltd.2,4 | 5/12/2021 | 28,710 | 30,443 | .05 |
Pine Labs Pte., Ltd., Series J, cumulative preferred shares2,4 | 5/12/2021 | 21,291 | 22,576 | .03 |
PPRO Holding GmbH, Series B-1, 8.00% preferred shares1,2,4 | 1/28/2021 | 48,694 | 43,679 | .07 |
Outreach Corp., Series G, preferred shares2,4 | 5/27/2021 | 45,482 | 41,291 | .06 |
SMALLCAP World Fund — Page 23 of 29
unaudited
Restricted securities5 (continued)
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Skyryse, Inc., Series B, preferred shares1,2,4 | 10/21/2021 | $40,700 | $40,700 | .06 % |
Laronde, Inc., Series B, 6.00% preferred shares2,4 | 8/10/2021 | 50,000 | 40,411 | .06 |
Relativity Space, Inc., Series D, preferred shares2,4 | 11/20/2020 | 32,000 | 31,342 | .05 |
Relativity Space, Inc., Series E, preferred shares2,4 | 5/27/2021 | 10,600 | 6,786 | .01 |
PsiQuantum Corp., Series D, preferred shares2,4 | 5/28/2021 | 35,000 | 35,766 | .05 |
Boku, Inc.1,2,3 | 2/11/2021-9/21/2021 | 48,584 | 35,490 | .05 |
QuintoAndar, Ltd., Series E-1, preferred shares2,4 | 12/20/2021 | 50,000 | 35,178 | .05 |
KRY International AB, Series E1, preferred shares2,4 | 5/13/2021 | 51,891 | 27,893 | .04 |
KRY International AB, Series A2,4 | 5/13/2021 | 8,533 | 4,828 | .01 |
TAE Technologies, Inc., Series G2, 4.00% cumulative convertible preferred shares4 | 7/7/2022 | 30,000 | 30,000 | .04 |
Dock, Ltd.2,4 | 10/19/2020 | 26,000 | 27,037 | .04 |
SiFive, Inc., Series F, preferred shares2,4 | 3/16/2022 | 25,000 | 25,922 | .04 |
ABL Space Systems Co., Series B, preferred shares2,4 | 3/24/2021 | 35,000 | 24,815 | .04 |
ANDPAD, Inc., Series D, preferred shares2,4 | 6/30/2022 | 19,506 | 23,339 | .03 |
StockX, Inc., Series E-1, preferred shares2,4 | 4/15/2021 | 20,000 | 10,831 | .02 |
StockX, Inc.2,4 | 4/5/2021 | 14,682 | 7,886 | .01 |
StockX, Inc., Series AA, preferred shares2,4 | 4/5/2021 | 5,203 | 2,795 | .00 15 |
StockX, Inc., Series B, preferred shares2,4 | 4/5/2021 | 281 | 151 | .00 15 |
Patreon, Inc., Series E, preferred shares2,4 | 9/1/2020 | 11,944 | 14,292 | .02 |
Patreon, Inc., Class B2,4 | 10/26/2020-10/27/2020 | 3,255 | 3,888 | .01 |
Patreon, Inc., Series Seed, preferred shares2,4 | 9/16/2020 | 2,790 | 3,339 | .00 15 |
Yotpo, Ltd., Series F, preferred shares2,4 | 2/25/2021 | 18,329 | 11,333 | .02 |
Yotpo, Ltd.2,4 | 3/16/2021 | 5,475 | 3,563 | .01 |
Yotpo, Ltd., Series B, preferred shares2,4 | 3/16/2021 | 2,322 | 1,511 | .00 15 |
Yotpo, Ltd., Series C, preferred shares2,4 | 3/16/2021 | 2,211 | 1,439 | .00 15 |
Yotpo, Ltd., Series A-1, preferred shares2,4 | 3/16/2021 | 1,483 | 965 | .00 15 |
Yotpo, Ltd., Series A, preferred shares2,4 | 3/16/2021 | 723 | 470 | .00 15 |
Yotpo, Ltd., Series C-1, preferred shares2,4 | 3/16/2021 | 613 | 399 | .00 15 |
Yotpo, Ltd., Series D, preferred shares2,4 | 3/16/2021 | 341 | 222 | .00 15 |
Yotpo, Ltd., Series B-1, preferred shares2,4 | 3/16/2021 | 273 | 178 | .00 15 |
WorkRise Technologies, Inc., Series E, preferred shares2,4 | 3/8/2021 | 40,000 | 19,839 | .03 |
InSilico Medicine Cayman TopCo, Series D, preferred shares2,4 | 5/13/2022-7/18/2022 | 23,685 | 18,641 | .03 |
Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares4 | 2/18/2022 | 12,179 | 15,922 | .03 |
Tarana Wireless, Inc.4 | 6/27/2023 | 1,000 | 1,000 | .00 15 |
Bluestar Genomics, Inc., Series C, 5.00% noncumulative preferred shares1,2,4 | 4/26/2021 | 15,101 | 11,330 | .02 |
Bluestar Genomics, Inc., convertible notes, 8.00% 10/28/20251,4 | 12/1/2022 | 2,000 | 2,000 | .00 15 |
Kandou Holding SA, Series D, preferred shares2,4 | 11/17/2021 | 15,000 | 12,750 | .02 |
RealSelf, Inc., Series C, convertible preferred shares1,4 | 4/18/2018 | 19,000 | 11,412 | .02 |
Artiva Biotherapeutics, Inc., Series B, preferred shares2,4 | 2/24/2021 | 7,000 | 6,408 | .01 |
Foursquare Labs, Inc., Series A2,4 | 12/3/2013 | 20,000 | 2,562 | .00 15 |
Foursquare Labs, Inc., Series A, warrants, expire 12/4/20332,4 | 8/22/2014 | — 6 | 15 | .00 15 |
PACT Pharma, Inc., Series C, 8.00% noncumulative preferred shares2,4 | 2/7/2020 | 9,000 | 294 | .00 15 |
Total | $903,207 | $829,606 | 1.23 % |
SMALLCAP World Fund — Page 24 of 29
unaudited
1 | 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. |
2 | Security did not produce income during the last 12 months. |
3 | All or a portion of this security was on loan. The total value of all such securities was $1,568,999,000, which represented 2.33% of the net assets of the fund. |
4 | Value determined using significant unobservable inputs. |
5 | 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 $829,606,000, which represented 1.23% of the net assets of the fund. |
6 | Amount less than one thousand. |
7 | 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 $169,507,000, which represented .25% of the net assets of the fund. |
8 | Rate represents the seven-day yield at 6/30/2023. |
9 | Security purchased with cash collateral from securities on loan. |
10 | This security changed its name during the reporting period. |
11 | Affiliated issuer during the reporting period but no longer an affiliate at 6/30/2023. Refer to the investment portfolio for the security value at 6/30/2023. |
12 | Affiliated issuer during the reporting period but no longer held at 6/30/2023. |
13 | Represents net activity. |
14 | Dividend income is included with securities lending income and is not shown in this table. |
15 | Amount less than .01%. |
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 |
SMALLCAP World Fund — Page 25 of 29
unaudited
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 the fund’s investment adviser and approved by the 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, 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 directors 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 directors. 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 table presents the fund’s valuation levels as of June 30, 2023 (dollars in thousands):
SMALLCAP World Fund — Page 26 of 29
unaudited
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Industrials | $6,536,522 | $7,425,408 | $15,624 | $13,977,554 |
Consumer discretionary | 7,572,899 | 4,877,669 | 7,886 | 12,458,454 |
Information technology | 5,267,673 | 4,766,328 | 57,692 | 10,091,693 |
Health care | 6,164,402 | 2,530,754 | 4,828 | 8,699,984 |
Financials | 3,468,612 | 3,225,865 | 30,443 | 6,724,920 |
Materials | 936,742 | 1,697,793 | — | 2,634,535 |
Consumer staples | 979,436 | 1,244,962 | — | 2,224,398 |
Communication services | 950,288 | 890,460 | — | 1,840,748 |
Energy | 1,252,079 | 421,296 | 105,093 | 1,778,468 |
Real estate | 757,006 | 375,775 | — | 1,132,781 |
Utilities | 288,691 | 182,780 | 132 | 471,603 |
Preferred securities | — | — | 564,890 | 564,890 |
Rights & warrants | 45 | 108,892 | 15 | 108,952 |
Convertible stocks | — | — | 58,334 | 58,334 |
Convertible bonds & notes | — | — | 2,000 | 2,000 |
Short-term securities | 5,228,395 | — | — | 5,228,395 |
Total | $39,402,790 | $27,747,982 | $846,937 | $67,997,709 |
The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the nine months ended
June 30, 2023 (dollars in thousands):
June 30, 2023 (dollars in thousands):
Beginning value at 10/1/2022 | Transfers into Level 3* | Purchases | Sales | Net realized loss | Unrealized appreciation | Transfers out of Level 3* | Ending value at 6/30/2023 | |
Investment securities | $898,553 | $29,272 | $4,604 | $(48,623 ) | $(61,460 ) | $35,555 | $(10,964 ) | $846,937 |
Net unrealized depreciation during the period on Level 3 investment securities held at June 30, 2023 | $(38,251 ) |
*
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.
SMALLCAP World Fund — 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 6/30/2023 | Valuation techniques | Unobservable inputs | Range (if applicable) | Weighted average* | Impact to valuation from an increase in input† | |
Common Stocks | $221,698 | Market comparable companies | EV/Gross Profit multiple | 18.5x | 18.5x | Increase |
EV/Sales multiple | 2.7x - 8.0x | 4.4x | Increase | |||
Net adjustment (decrease) based on movement of market comparables | 30% - 71% | 49% | Decrease | |||
DLOM | 25% - 30% | 28% | Decrease | |||
Market approach | DLOM | 30% | 30% | Decrease | ||
Transaction price | Not applicable | Not applicable | Not applicable | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Estimated recovery value | Expected proceeds | Not applicable | Not applicable | Not applicable | ||
Discounted cash flow | Discount rate | 6% | 6% | Decrease | ||
Preferred securities | 564,890 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
Discount to transaction price | 15% - 53% | 36% | Decrease | |||
Discounted cash flow | WACC | 10% - 20% | 14% | Decrease | ||
Risk discount | 15% - 95% | 49% | Decrease | |||
Market comparable companies | EV/Sales multiple | 2.7x - 14.1x | 10.1x | Increase | ||
EV/Gross Profit multiple | 13.6x - 18.5x | 16.0x | Increase | |||
Price/Sales multiple | 9.5x | 9.5x | Increase | |||
Net adjustment (decrease) based on movement of market comparables | 30% - 71% | 42% | Decrease | |||
Net adjustment (increase) based on movement of market comparables | 4% - 40% | 18% | Increase | |||
DLOM | 15% - 30% | 19% | Decrease | |||
Inputs to market comparables and discounted cash flow | Weight ascribed to market comparables | 50% | 50% | Not applicable | ||
Weight ascribed to discounted cash flow | 50% | 50% | Not applicable | |||
Rights & warrants | 15 | Black-Scholes | Underlying share price | Not applicable | Not applicable | Not applicable |
Implied volatility | 30% | 30% | Increase | |||
Convertible stocks | 58,334 | Market comparable companies | EV/Sales multiple | 6.4x | 6.4x | Increase |
DLOM | 18% | 18% | Decrease | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Convertible bonds & notes | 2,000 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
Total | $846,937 |
*
Weighted average is by relative fair value.
†
This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
Key to abbreviations | ||
ADR = American Depositary Receipts | EV = Enterprise value | SDR = Swedish Depositary Receipts |
CAD = Canadian dollars | GDR = Global Depositary Receipts | USD = U.S. dollars |
CDI = CREST Depository Interest | NOK = Norwegian kroner | WACC = Weighted average cost of capital |
DLOM = Discount for lack of marketability | REIT = Real Estate Investment Trust |
SMALLCAP World Fund — Page 28 of 29
unaudited
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2023 Capital Group. All rights reserved.
MFGEFP3-035-0823O-S96449
SMALLCAP World Fund — Page 29 of 29