SMALLCAP World Fund®
Investment portfolio
June 30, 2024unaudited
Common stocks 94.33% Industrials 22.92% | Shares | Value (000) | |
Saia, Inc.1,2 | 1,478,741 | $701,352 | |
Comfort Systems USA, Inc.1 | 2,049,176 | 623,195 | |
Diploma PLC1 | 10,722,439 | 559,470 | |
Crane Co. | 2,455,426 | 355,988 | |
Interpump Group SpA1 | 7,995,756 | 353,704 | |
AZEK Co., Inc. (The), Class A1,2 | 8,295,958 | 349,509 | |
VAT Group AG | 553,191 | 311,367 | |
CBIZ, Inc.1,2 | 3,932,435 | 291,393 | |
Stericycle, Inc.1,2 | 4,935,932 | 286,926 | |
IMCD NV | 2,061,665 | 285,405 | |
Hensoldt AG1 | 7,669,208 | 281,949 | |
Kadant, Inc.1 | 912,220 | 267,992 | |
International Container Terminal Services, Inc. | 44,009,076 | 262,861 | |
XPO, Inc.2 | 2,418,981 | 256,775 | |
Wizz Air Holdings PLC1,2 | 8,063,082 | 228,031 | |
ATS Corp.1,2 | 6,848,234 | 221,608 | |
BELIMO Holding AG | 433,163 | 216,276 | |
Trelleborg AB, Class B | 5,375,056 | 208,247 | |
ICF International, Inc.1 | 1,397,711 | 207,504 | |
MISUMI Group, Inc. | 11,659,794 | 199,420 | |
FTAI Aviation, Ltd. | 1,815,918 | 187,457 | |
Arcosa, Inc. | 2,105,941 | 175,657 | |
Harmonic Drive Systems, Inc.1,3 | 6,224,450 | 174,820 | |
CSW Industrials, Inc. | 658,296 | 174,653 | |
Munters Group AB1 | 9,277,989 | 173,831 | |
Enerpac Tool Group Corp., Class A1 | 4,347,380 | 165,983 | |
Applied Industrial Technologies, Inc. | 829,363 | 160,896 | |
Enpro, Inc.1 | 1,064,006 | 154,887 | |
TFI International, Inc. (CAD denominated) | 1,025,984 | 148,972 | |
TFI International, Inc. | 39,510 | 5,736 | |
Bombardier, Inc., Class B2 | 2,409,432 | 154,512 | |
Casella Waste Systems, Inc., Class A2 | 1,540,875 | 152,886 | |
Chart Industries, Inc.2,3 | 1,046,094 | 150,993 | |
Regal Rexnord Corp. | 1,087,715 | 147,081 | |
Willscot Mobile Mini Holdings Corp., Class A2 | 3,841,326 | 144,588 | |
KEI Industries, Ltd. | 2,710,442 | 143,037 | |
Carel Industries SpA1,3 | 7,630,415 | 141,368 | |
MYR Group, Inc.1,2 | 1,039,049 | 141,009 | |
UL Solutions, Inc., Class A3 | 3,333,700 | 140,649 | |
Visional, Inc.1,2,3 | 3,127,230 | 140,400 | |
Watsco, Inc. | 300,000 | 138,972 | |
DO & CO AG, non-registered shares1 | 779,520 | 138,544 | |
Addtech AB, Class B | 5,442,314 | 135,685 | |
Cleanaway Waste Management, Ltd. | 69,625,838 | 128,585 | |
VSE Corp.1 | 1,384,201 | 122,197 | |
Arcadis NV, non-registered shares | 1,911,611 | 120,934 |
SMALLCAP World Fund — Page 1 of 30
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Howden Joinery Group PLC | 10,785,159 | $119,166 | |
Lifco AB, Class B | 4,195,000 | 115,497 | |
Boyd Group Services, Inc.3 | 594,862 | 111,737 | |
NIBE Industrier AB, Class B | 26,444,941 | 111,479 | |
Simpson Manufacturing Co., Inc. | 657,421 | 110,795 | |
Graco, Inc. | 1,374,000 | 108,931 | |
RS Group PLC | 12,312,528 | 108,872 | |
Masco Corp. | 1,625,000 | 108,339 | |
Japan Elevator Service Holdings Co., Ltd.1 | 6,581,000 | 106,098 | |
Builders FirstSource, Inc.2 | 760,228 | 105,223 | |
Sulzer AG | 751,946 | 103,908 | |
IMI PLC | 4,573,839 | 102,073 | |
Weir Group PLC (The) | 3,978,926 | 99,257 | |
Nexans SA | 897,522 | 98,847 | |
Armstrong World Industries, Inc. | 872,331 | 98,783 | |
Qantas Airways, Ltd.2 | 23,878,620 | 92,912 | |
Babcock International Group PLC | 13,816,202 | 91,135 | |
TriNet Group, Inc. | 905,363 | 90,536 | |
Copa Holdings, SA, Class A | 948,945 | 90,321 | |
Volution Group PLC1 | 15,684,638 | 89,212 | |
Rumo SA | 23,640,000 | 87,623 | |
Delhivery Ltd.2 | 18,235,265 | 87,078 | |
Loar Holdings, Inc.2,3 | 1,628,900 | 87,000 | |
GMS, Inc.2 | 1,063,920 | 85,763 | |
Matson, Inc. | 648,513 | 84,936 | |
First Advantage Corp. | 5,284,280 | 84,918 | |
Johns Lyng Group, Ltd.1 | 22,207,565 | 84,006 | |
McGrath RentCorp | 779,414 | 83,047 | |
Alaska Air Group, Inc.2 | 2,052,076 | 82,904 | |
Inox Wind, Ltd. | 48,438,869 | 81,693 | |
Titagarh Rail Systems, Ltd.2 | 3,687,257 | 81,374 | |
SPX Technologies, Inc.2 | 556,772 | 79,140 | |
Cargotec OYJ, Class B, non-registered shares | 947,295 | 76,147 | |
SiteOne Landscape Supply, Inc.2 | 609,885 | 74,046 | |
LS Electric Co., Ltd. | 445,157 | 71,534 | |
Montana Aerospace AG1,2 | 3,422,846 | 71,264 | |
Grupo Aeroportuario del Centro Norte, SAB de CV, Series B | 8,297,261 | 70,369 | |
NICHIAS Corp. | 2,368,700 | 69,752 | |
Grafton Group PLC | 5,915,179 | 69,477 | |
Miura Co., Ltd. | 3,334,147 | 67,728 | |
InPost SA2 | 3,826,289 | 67,140 | |
ManpowerGroup, Inc. | 961,021 | 67,079 | |
Lyft, Inc., Class A2 | 4,535,000 | 63,943 | |
Herc Holdings, Inc. | 479,334 | 63,890 | |
Pluxee NV2 | 2,228,153 | 62,510 | |
Instalco AB1 | 16,294,214 | 62,254 | |
Aalberts NV, non-registered shares | 1,507,986 | 61,117 | |
Hammond Power Solutions, Inc., Class A3 | 730,120 | 59,502 | |
TransDigm Group, Inc. | 45,000 | 57,492 | |
AutoStore Holdings, Ltd.2 | 47,925,409 | 55,928 | |
GVS SpA2 | 7,864,236 | 55,238 | |
International Consolidated Airlines Group SA (CDI)2 | 26,494,000 | 54,397 | |
Judges Scientific PLC1 | 395,543 | 50,779 | |
Engcon AB, Class B3 | 6,013,176 | 49,243 | |
Dayforce, Inc.2 | 979,310 | 48,574 |
SMALLCAP World Fund — Page 2 of 30
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Zhejiang Weixing New Building Materials Co., Ltd., Class A | 22,352,304 | $47,418 | |
Melrose Industries PLC | 6,786,734 | 47,396 | |
Kingspan Group PLC | 557,140 | 47,204 | |
NORMA Group SE, non-registered shares1 | 2,548,962 | 47,149 | |
Voltronic Power Technology Corp. | 789,000 | 46,688 | |
TELUS International (Cda), Inc., subordinate voting shares2,3 | 7,848,052 | 45,362 | |
MonotaRO Co., Ltd.3 | 3,820,100 | 44,993 | |
Trex Co., Inc.2 | 602,320 | 44,644 | |
AirTAC International Group | 1,454,000 | 44,089 | |
SPIE SA | 1,179,247 | 42,897 | |
Reliance Worldwide Corp., Ltd. | 13,700,714 | 41,052 | |
FTI Consulting, Inc.2 | 190,072 | 40,966 | |
Mader Group, Ltd. | 9,751,400 | 40,848 | |
IDEX Corp. | 200,000 | 40,240 | |
CCR SA, ordinary nominative shares | 19,207,630 | 39,995 | |
AAON, Inc. | 451,170 | 39,360 | |
INVISIO Communications AB | 1,769,000 | 38,879 | |
Fluidra, SA, non-registered shares | 1,832,095 | 38,069 | |
UFP Industries, Inc. | 333,295 | 37,329 | |
Embraer SA2 | 5,690,100 | 36,797 | |
Alight, Inc., Class A2 | 4,938,272 | 36,444 | |
Fiverr International, Ltd.2,3 | 1,518,959 | 35,589 | |
Marlowe PLC1 | 6,503,191 | 35,370 | |
Atkore, Inc. | 260,751 | 35,183 | |
APi Group Corp.2 | 907,771 | 34,159 | |
Ventia Services Group Pty, Ltd. | 12,643,253 | 32,141 | |
DL E&C Co., Ltd. | 1,354,400 | 31,714 | |
Daiseki Co., Ltd. | 1,306,982 | 30,430 | |
BWX Technologies, Inc. | 301,745 | 28,666 | |
SIS, Ltd.2 | 5,289,102 | 28,482 | |
Advanced Drainage Systems, Inc. | 174,684 | 28,018 | |
Beijer Ref AB, Class B | 1,783,220 | 27,612 | |
Indutrade AB | 1,080,000 | 27,512 | |
Generac Holdings, Inc.2 | 207,989 | 27,500 | |
Controladora Vuela Compañía de Aviación, SAB de CV, Class A (ADR), ordinary participation certificates2 | 3,864,724 | 24,580 | |
Controladora Vuela Compañía de Aviación, SAB de CV, Class A, ordinary participation certificates2,3 | 4,120,200 | 2,608 | |
Upwork, Inc.2 | 2,385,553 | 25,645 | |
Alfen NV1,2,3 | 1,380,806 | 25,454 | |
Japan Airport Terminal Co., Ltd. | 722,200 | 24,685 | |
Sinoseal Holding Co., Ltd., Class A | 5,298,624 | 24,654 | |
BayCurrent Consulting, Inc. | 1,212,030 | 24,425 | |
SHO-BOND Holdings Co., Ltd.3 | 677,100 | 24,278 | |
Chemring Group PLC | 5,139,242 | 24,217 | |
Norva24 Group AB2 | 7,776,331 | 21,199 | |
Spirax Group PLC | 195,533 | 20,977 | |
Fasadgruppen Group AB1 | 3,475,540 | 20,276 | |
Grupa Pracuj SA3 | 1,300,000 | 20,083 | |
Green Landscaping Group AB2 | 2,606,930 | 19,419 | |
Valmet OYJ | 668,554 | 19,121 | |
Burckhardt Compression Holding AG | 28,900 | 18,927 | |
REV Group, Inc. | 697,467 | 17,360 | |
easyJet PLC | 3,000,000 | 17,319 | |
Federal Signal Corp. | 195,568 | 16,363 |
SMALLCAP World Fund — Page 3 of 30
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Oshkosh Corp. | 150,000 | $16,230 | |
Storskogen Group AB, Class B | 20,622,000 | 16,030 | |
Nitta Corp. | 598,400 | 15,296 | |
Einride AB1,2,4,5 | 438,277 | 14,901 | |
IndiaMart InterMesh, Ltd. | 435,075 | 13,972 | |
Cadre Holdings, Inc. | 383,420 | 12,868 | |
Vicor Corp.2 | 378,100 | 12,538 | |
Haitian International Holdings, Ltd. | 4,399,791 | 12,537 | |
IES Holdings, Inc.2 | 63,289 | 8,818 | |
CECO Environmental Corp.2 | 241,683 | 6,973 | |
Ariston Holding NV | 970,937 | 3,999 | |
Cera Sanitaryware, Ltd. | 5,448 | 566 | |
LIXIL Corp. | 13,800 | 145 | |
16,571,968 | |||
Consumer discretionary 18.00% | |||
TopBuild Corp.1,2 | 2,165,365 | 834,250 | |
CAVA Group, Inc.1,2 | 7,350,811 | 681,788 | |
Tube Investments of India, Ltd.1 | 10,585,900 | 537,209 | |
Evolution AB | 4,867,793 | 507,267 | |
Dollarama, Inc. | 5,010,000 | 457,439 | |
Floor & Decor Holdings, Inc., Class A2 | 3,944,439 | 392,117 | |
Wyndham Hotels & Resorts, Inc. | 3,889,087 | 287,792 | |
MakeMyTrip, Ltd.2 | 3,194,772 | 268,680 | |
Boot Barn Holdings, Inc.1,2 | 1,993,602 | 257,035 | |
Melco Resorts & Entertainment, Ltd. (ADR)1,2 | 34,031,694 | 253,876 | |
Light & Wonder, Inc.2 | 2,302,001 | 241,434 | |
Global-E Online, Ltd.2 | 6,392,049 | 231,840 | |
Toll Brothers, Inc. | 1,927,000 | 221,952 | |
Ollies Bargain Outlet Holdings, Inc.2 | 2,148,438 | 210,912 | |
Cavco Industries, Inc.1,2 | 605,885 | 209,739 | |
KB Home | 2,957,918 | 207,587 | |
Wayfair, Inc., Class A2 | 3,848,801 | 202,947 | |
YETI Holdings, Inc.1,2 | 5,063,600 | 193,176 | |
Lottomatica Group SpA1 | 16,020,291 | 193,174 | |
DraftKings, Inc., Class A2 | 4,846,439 | 184,989 | |
Modine Manufacturing Co.2 | 1,805,272 | 180,870 | |
Thor Industries, Inc. | 1,933,513 | 180,687 | |
Ermenegildo Zegna NV1,3 | 13,661,098 | 161,747 | |
Lennar Corp., Class A | 1,058,458 | 158,631 | |
Lennar Corp., Class B | 21,169 | 2,952 | |
Jumbo SA | 5,421,500 | 155,557 | |
Williams-Sonoma, Inc. | 500,000 | 141,185 | |
Pets at Home Group PLC1 | 37,555,073 | 140,414 | |
Bright Horizons Family Solutions, Inc.2 | 1,186,932 | 130,657 | |
Entain PLC | 16,290,718 | 128,976 | |
Levi Strauss & Co., Class A | 6,625,378 | 127,737 | |
Century Communities, Inc. | 1,512,000 | 123,470 | |
Moncler SpA | 2,015,000 | 123,400 | |
Zalando SE, non-registered shares2 | 5,212,907 | 121,859 | |
Skyline Champion Corp.2 | 1,790,000 | 121,272 | |
Inchcape PLC | 12,412,967 | 116,827 | |
Polaris, Inc. | 1,485,000 | 116,290 | |
Skechers USA, Inc., Class A2 | 1,600,000 | 110,592 | |
Games Workshop Group PLC | 811,891 | 109,593 |
SMALLCAP World Fund — Page 4 of 30
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
Domino’s Pizza Group PLC1 | 26,295,118 | $101,876 | |
Norwegian Cruise Line Holdings, Ltd.2 | 5,237,662 | 98,416 | |
Pool Corp. | 317,700 | 97,639 | |
Kontoor Brands, Inc. | 1,426,394 | 94,356 | |
Domino’s Pizza, Inc. | 176,500 | 91,132 | |
Rusta AB1 | 12,097,935 | 89,015 | |
Watches of Switzerland Group PLC1,2 | 16,965,644 | 88,905 | |
Advance Auto Parts, Inc. | 1,384,490 | 87,680 | |
DPC Dash, Ltd.1,2 | 10,400,586 | 86,003 | |
Five Below, Inc.2 | 769,806 | 83,886 | |
Murphy USA, Inc. | 175,000 | 82,155 | |
Installed Building Products, Inc. | 398,342 | 81,931 | |
Jack in the Box, Inc.1 | 1,606,607 | 81,841 | |
Arhaus, Inc., Class A | 4,721,534 | 79,983 | |
Steven Madden, Ltd. | 1,710,595 | 72,358 | |
D.R. Horton, Inc. | 490,000 | 69,056 | |
B&M European Value Retail SA | 12,441,488 | 68,801 | |
Adtalem Global Education, Inc.2 | 966,441 | 65,921 | |
MRF, Ltd. | 42,165 | 65,351 | |
MGM China Holdings, Ltd. | 39,776,800 | 61,907 | |
Auction Technology Group PLC1,2 | 9,694,672 | 61,071 | |
Helen of Troy, Ltd.2 | 653,838 | 60,637 | |
Malibu Boats, Inc., Class A1,2 | 1,649,000 | 57,781 | |
Meritage Homes Corp. | 353,400 | 57,198 | |
Aditya Vision, Ltd.1,6 | 751,964 | 40,132 | |
Aditya Vision, Ltd.1 | 273,548 | 14,599 | |
ABC-Mart, Inc. | 3,060,300 | 53,822 | |
Cairn Homes PLC | 31,452,000 | 53,543 | |
Brunello Cucinelli SpA | 532,326 | 53,414 | |
Shoei Co., Ltd.1,3 | 4,291,700 | 52,446 | |
On Holding AG, Class A2 | 1,326,026 | 51,450 | |
Guzman y Gomez, Ltd.2 | 2,755,682 | 50,407 | |
Six Flags Entertainment Corp. (OLD) | 1,514,000 | 50,174 | |
XPEL, Inc.2 | 1,381,290 | 49,119 | |
Nifco, Inc. | 2,030,500 | 48,601 | |
tonies SE, Class A1,2 | 6,353,041 | 46,668 | |
Trainline PLC2 | 11,779,700 | 46,467 | |
Darden Restaurants, Inc. | 303,300 | 45,895 | |
Flutter Entertainment PLC2 | 251,536 | 45,870 | |
Beazer Homes USA, Inc.1,2 | 1,659,813 | 45,612 | |
Puuilo OYJ | 4,124,072 | 44,522 | |
Mattel, Inc.2 | 2,700,000 | 43,902 | |
VF Corp. | 2,902,276 | 39,181 | |
Patrick Industries, Inc. | 357,773 | 38,836 | |
Camping World Holdings, Inc., Class A | 2,170,983 | 38,774 | |
Jiumaojiu International Holdings, Ltd.1,3 | 72,421,531 | 37,436 | |
Chalet Hotels, Ltd.2 | 3,886,343 | 37,400 | |
RH2 | 150,000 | 36,666 | |
Macy’s, Inc. | 1,900,000 | 36,480 | |
Mitra Adiperkasa Tbk PT | 390,816,300 | 35,121 | |
Nien Made Enterprise Co., Ltd. | 2,908,000 | 35,000 | |
Worthington Enterprises, Inc. | 726,964 | 34,407 | |
Tsuburaya Fields Holdings, Inc.3 | 3,183,000 | 33,851 | |
Genda, Inc.2,3 | 3,063,400 | 33,340 | |
OneSpaWorld Holdings, Ltd.2 | 2,150,518 | 33,053 |
SMALLCAP World Fund — Page 5 of 30
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
Planet Fitness, Inc., Class A2 | 430,000 | $31,644 | |
International Game Technology PLC | 1,527,081 | 31,244 | |
Central Automotive Products, Ltd.3 | 907,800 | 30,199 | |
Devyani International, Ltd.2 | 15,000,000 | 29,490 | |
Sanrio Co., Ltd.3 | 1,543,400 | 28,468 | |
Haichang Ocean Park Holdings, Ltd.2,3 | 308,116,000 | 27,640 | |
EIH, Ltd. | 5,337,293 | 27,252 | |
Sabre Corp.2 | 10,036,652 | 26,798 | |
Peloton Interactive, Inc., Class A2,3 | 7,742,528 | 26,170 | |
Lojas Renner SA | 11,564,503 | 25,818 | |
Fox Factory Holding Corp.2 | 530,786 | 25,579 | |
Dometic Group AB | 4,000,189 | 25,239 | |
Smartfit Escola de Ginástica e Dança SA | 5,859,947 | 22,643 | |
Temple & Webster Group, Ltd.2 | 3,420,706 | 21,376 | |
MIPS AB | 543,100 | 21,175 | |
OneWater Marine, Inc., Class A2,3 | 754,805 | 20,810 | |
Barratt Developments PLC | 3,315,285 | 19,671 | |
Dine Brands Global, Inc. | 500,000 | 18,100 | |
Wendy’s Co. | 1,056,138 | 17,912 | |
Grupo de Moda Soma SA2 | 16,150,549 | 17,739 | |
Bosideng International Holdings, Ltd. | 28,180,000 | 17,553 | |
Arezzo Indústria e Comércio SA, ordinary nominative shares | 1,870,235 | 17,180 | |
Salvatore Ferragamo SpA3 | 1,958,773 | 16,539 | |
Momo.com, Inc. | 1,235,064 | 16,367 | |
Pet Valu Holdings, Ltd.3 | 850,263 | 16,352 | |
Elior Group SA2,3 | 5,807,012 | 16,346 | |
Nordstrom, Inc.3 | 760,000 | 16,127 | |
Caesars Entertainment, Inc.2 | 400,000 | 15,896 | |
Traeger, Inc.1,2 | 6,499,660 | 15,599 | |
ThredUp, Inc., Class A2,3 | 8,707,600 | 14,803 | |
Fielmann Group AG | 300,196 | 13,791 | |
Victoria PLC1,2 | 5,782,164 | 13,073 | |
Golden Entertainment, Inc. | 417,174 | 12,978 | |
MasterCraft Boat Holdings, Inc.2 | 676,133 | 12,765 | |
Royal Caribbean Cruises, Ltd.2 | 78,017 | 12,438 | |
Balkrishna Industries, Ltd. | 311,475 | 12,036 | |
First Watch Restaurant Group, Inc.2,3 | 670,820 | 11,780 | |
Hasbro, Inc. | 190,739 | 11,158 | |
NOK Corp. | 798,600 | 10,653 | |
Bafang Electric (Suzhou) Co., Ltd., Class A | 1,847,270 | 6,840 | |
Opmobility | 682,846 | 6,599 | |
Goodyear Tire & Rubber Co.2 | 558,712 | 6,341 | |
StockX, Inc.2,4,5 | 161,790 | 5,451 | |
Brilliant Earth Group, Inc., Class A2,3 | 929,849 | 2,064 | |
Dowlais Group PLC | 169,209 | 155 | |
BNN Technology PLC2,4 | 19,007,000 | — 7 | |
13,014,857 | |||
Information technology 15.96% | |||
Kokusai Electric Corp.1,3 | 17,046,783 | 502,455 | |
Insight Enterprises, Inc.1,2 | 2,504,599 | 496,812 | |
eMemory Technology, Inc.1 | 5,972,499 | 469,558 | |
Fabrinet, non-registered shares2 | 1,542,032 | 377,474 | |
MKS Instruments, Inc. | 2,834,126 | 370,080 | |
Global Unichip Corp.1 | 6,780,000 | 332,839 |
SMALLCAP World Fund — Page 6 of 30
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
Softcat PLC1 | 12,609,908 | $289,816 | |
Dexerials Corp.1 | 5,161,500 | 240,838 | |
ALTEN SA, non-registered shares1 | 2,129,767 | 234,755 | |
Maruwa Co., Ltd.1 | 965,400 | 232,112 | |
Kulicke and Soffa Industries, Inc.1 | 4,699,380 | 231,163 | |
Reply SpA | 1,556,586 | 230,335 | |
Impinj, Inc.2 | 1,336,668 | 209,549 | |
Jentech Precision Industrial Co., Ltd. | 5,631,467 | 207,171 | |
Coforge, Ltd. | 2,716,805 | 178,051 | |
GitLab, Inc., Class A2 | 3,479,717 | 173,012 | |
ASMPT, Ltd. | 12,401,100 | 172,839 | |
Pegasystems, Inc. | 2,778,455 | 168,180 | |
Smartsheet, Inc., Class A2 | 3,646,395 | 160,733 | |
Credo Technology Group Holding, Ltd.2 | 5,005,137 | 159,864 | |
Money Forward, Inc.1,2 | 4,350,987 | 146,794 | |
Lotes Co., Ltd.2 | 2,908,000 | 144,819 | |
Vitec Software Group AB, Class B | 2,790,783 | 144,794 | |
Globant SA2 | 790,705 | 140,951 | |
Socionext, Inc.3 | 5,879,155 | 140,605 | |
Lumine Group, Inc., subordinate voting shares2 | 5,119,253 | 138,192 | |
Confluent, Inc., Class A2 | 4,540,140 | 134,070 | |
Alkami Technology, Inc.2 | 4,679,907 | 133,284 | |
Tokyo Seimitsu Co., Ltd. | 1,720,700 | 130,720 | |
SINBON Electronics Co., Ltd.1 | 14,384,092 | 129,172 | |
MACOM Technology Solutions Holdings, Inc.2 | 1,140,000 | 127,076 | |
Silicon Laboratories, Inc.2 | 1,145,240 | 126,698 | |
Novanta, Inc.2 | 755,395 | 123,212 | |
ULVAC, Inc.3 | 1,814,800 | 119,547 | |
Lagercrantz Group AB, Class B | 7,283,638 | 118,725 | |
Klaviyo, Inc., Class A2,3 | 4,595,575 | 114,384 | |
SHIFT, Inc.1,2,3 | 1,240,155 | 113,104 | |
PAR Technology Corp.1,2,3 | 1,520,057 | 71,579 | |
PAR Technology Corp.1,2,5 | 838,810 | 39,500 | |
Nova, Ltd.2 | 450,868 | 105,742 | |
Disco Corp. | 255,900 | 98,054 | |
Monday.com, Ltd.2 | 405,134 | 97,540 | |
Nordic Semiconductor ASA2 | 7,281,455 | 97,074 | |
Tanla Platforms, Ltd.1 | 8,512,665 | 95,802 | |
RingCentral, Inc., Class A2 | 3,347,328 | 94,395 | |
Topicus.com, Inc., subordinate voting shares | 1,098,339 | 93,933 | |
nCino, Inc.2 | 2,969,556 | 93,393 | |
Power Integrations, Inc. | 1,316,654 | 92,416 | |
Wolfspeed, Inc.2,3 | 3,859,375 | 87,839 | |
INFICON Holding AG | 57,443 | 86,906 | |
Hamamatsu Photonics KK | 3,206,150 | 86,478 | |
Viavi Solutions, Inc.1,2 | 12,161,535 | 83,550 | |
DoubleVerify Holdings, Inc.2 | 4,224,889 | 82,259 | |
SUMCO Corp.3 | 5,535,784 | 80,400 | |
Mastek, Ltd.1 | 2,448,446 | 79,949 | |
VisEra Technologies Co., Ltd. | 6,970,606 | 74,389 | |
Semtech Corp.2 | 2,372,707 | 70,896 | |
Tri Chemical Laboratories, Inc.1,3 | 2,580,900 | 70,358 | |
Megaport, Ltd.1,2 | 9,161,000 | 68,007 | |
Bytes Technology Group PLC | 9,557,621 | 66,997 | |
Taiyo Yuden Co., Ltd.3 | 2,569,200 | 64,954 |
SMALLCAP World Fund — Page 7 of 30
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
LEM Holding SA3 | 40,600 | $64,610 | |
Esker SA1 | 332,301 | 62,502 | |
Riskified, Ltd., Class A2 | 9,774,367 | 62,458 | |
HPSP Co., Ltd. | 2,154,898 | 61,600 | |
Nippon System Development Co., Ltd. | 3,182,700 | 60,994 | |
MongoDB, Inc., Class A2 | 240,100 | 60,015 | |
Amano Corp. | 2,230,300 | 57,774 | |
Clearwater Analytics Holdings, Inc., Class A2 | 3,051,500 | 56,514 | |
CDW Corp. | 250,000 | 55,960 | |
Technoprobe SpA2 | 5,540,338 | 54,219 | |
Rubrik, Inc., Class A2,3 | 1,750,000 | 53,655 | |
Riken Keiki Co., Ltd.3 | 2,020,200 | 53,220 | |
King Slide Works Co., Ltd.2 | 1,260,000 | 47,629 | |
Okta, Inc., Class A2 | 500,000 | 46,805 | |
Aixtron SE3 | 2,263,071 | 44,404 | |
Qorvo, Inc.2 | 374,830 | 43,495 | |
Freshworks, Inc., Class A2 | 3,257,074 | 41,332 | |
CCC Intelligent Solutions Holdings, Inc.2 | 3,695,000 | 41,051 | |
SmartCraft ASA, Class A1,2 | 13,721,780 | 39,835 | |
Kingboard Laminates Holdings, Ltd. | 37,096,526 | 39,783 | |
Cognex Corp. | 824,523 | 38,555 | |
SentinelOne, Inc., Class A2 | 1,725,123 | 36,314 | |
Astera Labs, Inc.2,3 | 600,000 | 36,306 | |
GFT Technologies SE1 | 1,352,818 | 36,153 | |
Alphawave IP Group PLC2,3 | 19,663,942 | 35,635 | |
BE Semiconductor Industries NV | 201,885 | 33,731 | |
Nemetschek SE | 339,710 | 33,407 | |
Guidewire Software, Inc.2 | 239,672 | 33,048 | |
Aspen Technology, Inc.2 | 150,829 | 29,959 | |
Bentley Systems, Inc., Class B | 584,744 | 28,863 | |
BlackLine, Inc.2 | 595,000 | 28,828 | |
Keywords Studios PLC | 976,544 | 28,430 | |
Planisware SAS2 | 1,000,000 | 28,174 | |
A&D HOLON Holdings Co., Ltd.1 | 1,491,300 | 27,609 | |
Flex, Ltd.2 | 864,808 | 25,503 | |
Dock, Ltd.2,4,5 | 4,318,937 | 24,834 | |
Hirose Electric Co., Ltd. | 210,700 | 23,333 | |
Nayax, Ltd.2 | 1,075,000 | 22,739 | |
Xiamen Faratronic Co., Ltd., Class A | 2,157,156 | 22,595 | |
Zuken, Inc. | 848,700 | 22,363 | |
Alarm.com Holdings, Inc.2 | 351,000 | 22,303 | |
Noventiq Holdings PLC (GDR)1,2,4,8 | 17,110,290 | 21,438 | |
Noventiq Holdings PLC (GDR)1,2,4 | 16,060 | 20 | |
Crane NXT, Co. | 299,574 | 18,400 | |
VusionGroup3 | 132,291 | 18,307 | |
Silvaco Group, Inc.2 | 933,495 | 16,784 | |
Unity Software, Inc.2 | 1,016,557 | 16,529 | |
Accton Technology Corp. | 803,000 | 13,640 | |
EPAM Systems, Inc.2 | 71,760 | 13,499 | |
Yubico AB2 | 600,000 | 12,741 | |
E Ink Holdings, Inc. | 1,492,000 | 11,635 | |
ON Semiconductor Corp.2 | 167,850 | 11,506 | |
Zebra Technologies Corp., Class A2 | 36,300 | 11,214 | |
Entegris, Inc. | 79,014 | 10,698 | |
AAC Technologies Holdings, Inc. | 2,629,000 | 10,336 |
SMALLCAP World Fund — Page 8 of 30
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
Basler AG, non-registered shares2,3 | 783,794 | $8,907 | |
Teradata Corp.2 | 234,529 | 8,105 | |
JustSystems Corp. | 329,000 | 6,173 | |
Patreon, Inc., Class B2,4,5 | 189,951 | 5,835 | |
Sensirion Holding AG2,3 | 57,416 | 4,990 | |
Endava PLC, Class A (ADR)2 | 166,200 | 4,860 | |
Yotpo, Ltd.2,4,5 | 2,620,102 | 3,721 | |
Foursquare Labs, Inc., Series A2,4,5 | 1,970,385 | 1,951 | |
Tarana Wireless, Inc., Class C2,4 | 862,071 | 922 | |
11,544,941 | |||
Financials 12.15% | |||
Ares Management Corp., Class A | 4,295,833 | 572,549 | |
Essent Group, Ltd.1 | 7,104,853 | 399,222 | |
360 ONE WAM, Ltd.1 | 28,879,649 | 337,674 | |
Eurobank Ergasias Services and Holdings SA | 133,770,671 | 289,636 | |
Janus Henderson Group PLC1 | 8,281,802 | 279,180 | |
National Bank of Greece SA2 | 28,487,135 | 237,593 | |
Affirm Holdings, Inc., Class A2 | 7,197,586 | 217,439 | |
RenaissanceRe Holdings, Ltd. | 952,200 | 212,826 | |
IIFL Finance, Ltd.1 | 33,919,173 | 208,885 | |
AU Small Finance Bank, Ltd. | 24,955,177 | 200,461 | |
Cholamandalam Investment and Finance Co., Ltd. | 11,634,838 | 197,642 | |
HDFC Asset Management Co., Ltd. | 3,962,374 | 189,799 | |
Canara Bank | 131,063,880 | 187,334 | |
Wintrust Financial Corp. | 1,786,629 | 176,090 | |
Banco del Bajio, SA | 57,635,096 | 174,874 | |
VZ Holding AG | 1,307,290 | 167,477 | |
Victory Capital Holdings, Inc., Class A | 3,203,141 | 152,886 | |
StepStone Group, Inc., Class A | 3,268,760 | 150,003 | |
Steadfast Group, Ltd. | 35,679,894 | 147,023 | |
AUB Group, Ltd.1 | 6,420,148 | 136,084 | |
Stifel Financial Corp. | 1,477,350 | 124,319 | |
Glacier Bancorp, Inc. | 3,221,304 | 120,219 | |
TMX Group, Ltd. | 4,173,562 | 116,172 | |
Asia Commercial Joint Stock Bank | 112,118,905 | 112,167 | |
Goosehead Insurance, Inc., Class A1,2 | 1,951,952 | 112,120 | |
Aptus Value Housing Finance India, Ltd.1 | 27,453,811 | 108,325 | |
JB Financial Group Co., Ltd.1 | 10,013,599 | 106,267 | |
PB Fintech, Ltd.2 | 6,287,115 | 105,056 | |
Kinsale Capital Group, Inc. | 257,620 | 99,256 | |
BFF Bank SpA1 | 10,338,357 | 98,480 | |
Banca Generali SpA | 2,328,237 | 93,163 | |
SouthState Corp. | 1,217,030 | 93,005 | |
NMI Holdings, Inc.2 | 2,468,517 | 84,028 | |
Lazard, Inc., Class A | 2,177,145 | 83,123 | |
Skyward Specialty Insurance Group, Inc.1,2 | 2,212,423 | 80,045 | |
City Union Bank, Ltd. | 36,608,696 | 73,173 | |
Five-Star Business Finance, Ltd.2 | 7,681,836 | 73,017 | |
Capitec Bank Holdings, Ltd. | 482,170 | 69,646 | |
Max Financial Services, Ltd.2 | 5,971,000 | 69,355 | |
Oscar Health, Inc., Class A2 | 4,375,234 | 69,216 | |
Trupanion, Inc.1,2 | 2,312,727 | 67,994 | |
Fukuoka Financial Group, Inc. | 2,500,000 | 67,092 | |
Nova Ljubljanska Banka d.d. (GDR) | 2,365,833 | 63,080 |
SMALLCAP World Fund — Page 9 of 30
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Paymentus Holdings, Inc., Class A2 | 3,248,960 | $61,730 | |
PagSeguro Digital, Ltd., Class A2 | 5,242,200 | 61,281 | |
SiriusPoint, Ltd.2 | 5,000,000 | 61,000 | |
Radian Group, Inc. | 1,961,287 | 60,996 | |
Antin Infrastructure Partners SA | 4,861,340 | 59,052 | |
East West Bancorp, Inc. | 796,201 | 58,306 | |
Banc of California, Inc. | 4,299,543 | 54,948 | |
Patria Investments, Ltd., Class A | 4,555,689 | 54,942 | |
GMO Payment Gateway, Inc. | 985,900 | 54,630 | |
Euronext NV | 585,333 | 54,037 | |
Artisan Partners Asset Management, Inc., Class A | 1,277,000 | 52,702 | |
Bridgepoint Group PLC | 18,838,770 | 52,543 | |
Selective Insurance Group, Inc. | 535,682 | 50,263 | |
JTC PLC | 4,107,413 | 49,949 | |
Regional, SAB de CV, Class A | 6,537,372 | 48,783 | |
Boku, Inc.1,2,5 | 20,461,639 | 46,953 | |
Marqeta, Inc., Class A2 | 8,278,057 | 45,364 | |
Webster Financial Corp. | 1,019,513 | 44,441 | |
EFG International AG | 3,000,000 | 44,146 | |
Manappuram Finance, Ltd. | 17,680,581 | 44,010 | |
Bolsa Mexicana de Valores, SAB de CV, Series A | 25,669,735 | 43,468 | |
Alpha Services and Holdings SA2 | 26,000,000 | 42,451 | |
Vontobel Holding AG | 683,004 | 40,920 | |
Moelis & Co., Class A | 719,000 | 40,882 | |
Hilltop Holdings, Inc. | 1,300,000 | 40,664 | |
AvidXchange Holdings, Inc.2 | 3,158,589 | 38,093 | |
M&A Research Institute Holdings, Inc.2,3 | 1,498,200 | 37,727 | |
EVERTEC, Inc. | 1,125,253 | 37,415 | |
Qualitas Controladora, SAB de CV3 | 3,565,500 | 36,238 | |
Comerica, Inc. | 706,621 | 36,066 | |
Discovery, Ltd. | 4,754,649 | 35,195 | |
Haci Ömer Sabanci Holding AS | 11,142,365 | 32,903 | |
XP, Inc., Class A | 1,867,000 | 32,841 | |
Hamilton Lane, Inc., Class A | 260,801 | 32,230 | |
Premium Group Co., Ltd.1 | 2,360,400 | 31,841 | |
OneMain Holdings, Inc. | 621,054 | 30,115 | |
Marex Group PLC2 | 1,500,000 | 30,000 | |
Home First Finance Company India, Ltd. | 2,395,000 | 29,671 | |
Norion Bank AB2 | 7,161,000 | 29,446 | |
Aditya Birla Capital, Ltd.2 | 10,211,241 | 29,131 | |
Optima Bank SA | 2,026,588 | 26,052 | |
Pine Labs Pte., Ltd.2,4,5 | 76,998 | 25,785 | |
Live Oak Bancshares, Inc. | 718,120 | 25,177 | |
AssetMark Financial Holdings, Inc.2 | 711,713 | 24,590 | |
Columbia Banking System, Inc. | 1,063,800 | 21,159 | |
Enstar Group, Ltd.2 | 66,000 | 20,176 | |
Linc AB2 | 2,358,208 | 19,989 | |
Tikehau Capital SCA, non-registered shares3 | 852,545 | 19,123 | |
Hellenic Exchanges - Athens Stock Exchange SA1 | 3,500,000 | 18,153 | |
Funding Circle Holdings PLC2,3 | 14,713,073 | 17,926 | |
PT Bank Syariah Indonesia Tbk | 109,635,200 | 17,438 | |
Redwood Trust, Inc. REIT | 2,562,000 | 16,627 | |
Houlihan Lokey, Inc., Class A | 112,959 | 15,234 | |
Federal Home Loan Mortgage Corp.2 | 10,000,000 | 13,500 |
SMALLCAP World Fund — Page 10 of 30
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Remgro, Ltd. | 1,068,633 | $7,967 | |
Baldwin Insurance Group, Inc. (The), Class A2 | 129,794 | 4,604 | |
8,783,868 | |||
Health care 11.69% | |||
Molina Healthcare, Inc.2 | 1,955,186 | 581,277 | |
Max Healthcare Institute, Ltd. | 43,037,352 | 483,945 | |
Ensign Group, Inc. (The) | 2,316,667 | 286,549 | |
Bachem Holding AG3 | 3,097,235 | 284,669 | |
Haemonetics Corp.1,2 | 2,978,892 | 246,444 | |
DexCom, Inc.2 | 2,167,000 | 245,694 | |
Vaxcyte, Inc.2 | 2,737,778 | 206,730 | |
Xenon Pharmaceuticals, Inc.1,2 | 5,156,666 | 201,058 | |
Insulet Corp.2 | 963,534 | 194,441 | |
Zealand Pharma AS2 | 1,484,886 | 189,015 | |
Centene Corp.2 | 2,825,674 | 187,342 | |
agilon health, Inc.1,2,3 | 26,667,542 | 174,406 | |
Tandem Diabetes Care, Inc.1,2 | 4,271,769 | 172,110 | |
SCHOTT Pharma AG & Co. KGaA, non-registered shares3 | 5,143,255 | 168,588 | |
Structure Therapeutics, Inc. (ADR)1,2 | 4,249,936 | 166,895 | |
iRhythm Technologies, Inc.2 | 1,506,397 | 162,149 | |
Krystal Biotech, Inc.2 | 811,706 | 149,062 | |
BONESUPPORT Holding AB1,2 | 5,256,056 | 130,604 | |
Ambu AS, Class B, non-registered shares2 | 6,784,793 | 130,314 | |
Glenmark Pharmaceuticals, Ltd. | 8,820,014 | 130,193 | |
Insmed, Inc.2 | 1,840,814 | 123,335 | |
Denali Therapeutics, Inc.2 | 5,275,368 | 122,494 | |
Masimo Corp.2 | 911,523 | 114,797 | |
Laurus Labs, Ltd. | 22,072,758 | 111,882 | |
Ypsomed Holding AG | 244,462 | 109,347 | |
Laboratorios Farmaceuticos Rovi, SA non-registered shares | 1,157,030 | 108,476 | |
DiaSorin Italia SpA | 1,049,035 | 104,223 | |
CONMED Corp. | 1,475,507 | 102,282 | |
Penumbra, Inc.2 | 543,274 | 97,773 | |
ICON PLC2 | 281,109 | 88,119 | |
Gubra AS1,2,3 | 1,254,000 | 87,962 | |
Asahi Intecc Co., Ltd. | 6,170,000 | 86,855 | |
Ionis Pharmaceuticals, Inc.2 | 1,743,479 | 83,094 | |
Amplifon SpA | 2,337,030 | 82,899 | |
Aster DM Healthcare, Ltd. | 19,680,524 | 81,842 | |
Ascendis Pharma AS (ADR)2 | 579,165 | 78,986 | |
NovoCure, Ltd.2 | 4,523,572 | 77,489 | |
PACS Group, Inc.2 | 2,605,590 | 76,865 | |
IDEAYA Biosciences, Inc.2 | 1,878,830 | 65,966 | |
Glaukos Corp.2 | 550,322 | 65,131 | |
SKAN Group AG | 713,906 | 63,332 | |
CRISPR Therapeutics AG2,3 | 1,129,671 | 61,013 | |
Rapport Therapeutics, Inc.1,2,3,6 | 1,740,924 | 40,494 | |
Rapport Therapeutics, Inc.1,2 | 861,607 | 20,041 | |
Bangkok Chain Hospital PCL1 | 129,992,100 | 60,516 | |
Integra LifeSciences Holdings Corp.2 | 2,068,912 | 60,288 | |
EBOS Group, Ltd. | 3,017,948 | 59,229 | |
Legend Biotech Corp. (ADR)2 | 1,327,732 | 58,805 | |
LivaNova PLC2 | 1,061,470 | 58,190 | |
Hapvida Participações e Investimentos SA2 | 84,767,396 | 58,077 |
SMALLCAP World Fund — Page 11 of 30
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Encompass Health Corp. | 669,983 | $57,478 | |
Phreesia, Inc.2 | 2,593,063 | 54,973 | |
Hypera SA, ordinary nominative shares | 10,553,618 | 54,183 | |
Zai Lab, Ltd. (ADR)2,3 | 2,729,200 | 47,297 | |
Zai Lab, Ltd.2 | 1,717,300 | 2,958 | |
Poly Medicure, Ltd. | 2,164,847 | 49,959 | |
KRKA, dd, Novo mesto | 335,262 | 49,551 | |
Doximity, Inc., Class A2 | 1,714,707 | 47,960 | |
Fisher & Paykel Healthcare Corp., Ltd. | 2,510,000 | 45,983 | |
Natera, Inc.2 | 396,421 | 42,928 | |
Establishment Labs Holdings, Inc.2,3 | 927,489 | 42,145 | |
Nakanishi, Inc. | 2,596,500 | 41,073 | |
Genus PLC | 1,930,906 | 40,334 | |
Amvis Holdings, Inc. | 2,835,600 | 40,278 | |
Globus Medical, Inc., Class A2 | 574,500 | 39,347 | |
Surgical Science Sweden AB1,2,3 | 3,271,137 | 38,595 | |
KalVista Pharmaceuticals, Inc.1,2,3 | 3,227,620 | 38,021 | |
Exact Sciences Corp.2 | 890,000 | 37,602 | |
XVIVO Perfusion AB2 | 875,634 | 34,380 | |
Guardant Health, Inc.2 | 1,181,259 | 34,115 | |
Alnylam Pharmaceuticals, Inc.2 | 137,700 | 33,461 | |
BridgeBio Pharma, Inc.2,5 | 965,653 | 24,460 | |
BridgeBio Pharma, Inc.2 | 344,828 | 8,734 | |
Innovent Biologics, Inc.2 | 6,938,500 | 32,723 | |
Sana Biotechnology, Inc.2 | 5,881,106 | 32,111 | |
Aspen Pharmacare Holdings, Ltd. | 2,467,762 | 31,648 | |
Angelalign Technology, Inc.3 | 4,071,200 | 29,594 | |
Integer Holdings Corp.2 | 233,410 | 27,027 | |
Silk Road Medical, Inc.2 | 969,500 | 26,215 | |
Entero Healthcare Solutions, Ltd.2 | 1,998,543 | 24,859 | |
J. B. Chemicals & Pharmaceuticals, Ltd. | 1,160,422 | 24,339 | |
Incyte Corp.2 | 396,000 | 24,005 | |
Chemed Corp. | 42,000 | 22,788 | |
WuXi XDC Cayman, Inc.2,3 | 9,785,500 | 21,689 | |
Immunovant, Inc.2 | 780,367 | 20,602 | |
Biohaven, Ltd.2 | 578,931 | 20,095 | |
SUNWELS Co., Ltd.3 | 1,214,800 | 19,770 | |
Revance Therapeutics, Inc.1,2,3 | 7,384,192 | 18,977 | |
Siegfried Holding AG | 17,908 | 18,587 | |
Nxera Pharma Co., Ltd.2,3 | 1,841,200 | 18,424 | |
Ocumension Therapeutics2 | 20,480,600 | 17,960 | |
Neuland Laboratories, Ltd. | 199,859 | 17,929 | |
Nykode Therapeutics ASA2 | 12,000,000 | 17,167 | |
Medmix AG | 1,113,977 | 16,801 | |
Allogene Therapeutics, Inc.2,3 | 6,896,552 | 16,069 | |
10x Genomics, Inc., Class A2 | 793,300 | 15,430 | |
Nordhealth AS, Class A2 | 4,913,378 | 14,503 | |
Classys, Inc. | 377,760 | 13,897 | |
Vimian Group AB (publ)2 | 3,964,424 | 12,880 | |
AS ONE Corp.3 | 687,000 | 12,282 | |
Ventyx Biosciences, Inc.1,2,3 | 5,247,646 | 12,122 | |
Indegene, Ltd.2,6 | 1,106,094 | 7,378 | |
Indegene, Ltd.2 | 705,632 | 4,706 | |
AbCellera Biologics, Inc.2,3 | 2,447,500 | 7,245 | |
Arrowhead Pharmaceuticals, Inc.2 | 255,871 | 6,650 |
SMALLCAP World Fund — Page 12 of 30
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Schrodinger, Inc.2 | 340,000 | $6,576 | |
ChemoMetec A/S | 120,036 | 5,224 | |
Cellectis SA (ADR)2,3 | 1,848,804 | 3,457 | |
Cellectis SA, non-registered shares2,3 | 760,997 | 1,341 | |
Pacific Biosciences of California, Inc.2,3 | 3,390,000 | 4,644 | |
Galapagos NV2 | 144,573 | 3,600 | |
Seer, Inc., Class A2,3 | 2,056,000 | 3,454 | |
Biotage AB | 193,700 | 2,973 | |
Zentalis Pharmaceuticals, Inc.2 | 675,371 | 2,762 | |
KRY International AB, Series A2,4,5 | 19,744 | 2,436 | |
Pliant Therapeutics, Inc.2 | 224,997 | 2,419 | |
8,452,460 | |||
Materials 3.44% | |||
Lundin Mining Corp. | 26,151,412 | 291,134 | |
APL Apollo Tubes, Ltd.1 | 15,000,735 | 278,493 | |
Materion Corp.1 | 1,352,531 | 146,249 | |
Sumitomo Bakelite Co., Ltd. | 4,469,900 | 131,441 | |
Jindal Steel & Power, Ltd. | 10,041,809 | 125,201 | |
Sandstorm Gold, Ltd.1 | 22,453,383 | 122,146 | |
Tronox Holdings PLC | 6,992,130 | 109,707 | |
Fujimi, Inc.1,3 | 5,315,900 | 100,982 | |
LANXESS AG3 | 4,036,949 | 99,122 | |
Nissan Chemical Corp. | 3,114,000 | 98,417 | |
ATI, Inc.2 | 1,732,552 | 96,070 | |
Ramkrishna Forgings, Ltd. | 7,251,352 | 76,962 | |
Arcadium Lithium PLC2,3 | 22,355,661 | 75,115 | |
Zeon Corp. | 8,315,800 | 69,183 | |
H.B. Fuller Co. | 866,200 | 66,663 | |
Huhtamäki OYJ | 1,500,000 | 60,131 | |
Element Solutions, Inc. | 2,052,000 | 55,650 | |
SOL SpA | 1,482,433 | 52,423 | |
MEC Co., Ltd.1,3 | 1,605,600 | 46,147 | |
Asahi Yukizai Corp.1,3 | 1,407,500 | 45,989 | |
Alcoa Corp. | 1,104,737 | 43,946 | |
Cabot Corp. | 414,462 | 38,085 | |
Resonac Holdings Co., Ltd. | 1,658,200 | 36,575 | |
Kansai Paint Co., Ltd. | 1,773,738 | 28,557 | |
Anupam Rasayan India, Ltd. | 3,104,000 | 28,430 | |
Mayr-Melnhof Karton AG, non-registered shares | 226,797 | 27,219 | |
Vinati Organics, Ltd. | 943,000 | 21,431 | |
Major Drilling Group International, Inc.2 | 3,025,000 | 20,077 | |
NV Bekaert SA | 476,866 | 19,958 | |
Summit Materials, Inc., Class A2 | 492,061 | 18,014 | |
Labrador Iron Ore Royalty Corp.3 | 822,000 | 17,485 | |
Yamato Kogyo Co., Ltd. | 288,600 | 14,073 | |
Umicore SA3 | 936,935 | 14,058 | |
Gujarat Fluorochemicals, Ltd. | 341,246 | 13,043 | |
2,488,176 | |||
Consumer staples 3.09% | |||
Emmi AG | 214,650 | 212,132 | |
Grocery Outlet Holding Corp.1,2 | 7,938,202 | 175,593 | |
Freshpet, Inc.2 | 1,297,356 | 167,865 | |
Simply Good Foods Co.2 | 4,268,375 | 154,216 |
SMALLCAP World Fund — Page 13 of 30
unaudited
Common stocks (continued) Consumer staples (continued) | Shares | Value (000) | |
Redcare Pharmacy NV, non-registered shares1,2,3 | 1,037,616 | $126,826 | |
BBB Foods, Inc., Class A2,3 | 5,054,007 | 120,589 | |
Varun Beverages, Ltd. | 5,879,179 | 114,388 | |
Royal Unibrew A/S2 | 1,336,984 | 105,905 | |
BJ’s Wholesale Club Holdings, Inc.2 | 1,106,224 | 97,171 | |
Celsius Holdings, Inc.2 | 1,684,242 | 96,153 | |
Kotobuki Spirits Co., Ltd.1 | 8,132,200 | 94,202 | |
John B. Sanfilippo & Son, Inc. | 716,672 | 69,639 | |
Performance Food Group Co.2 | 928,000 | 61,350 | |
Bakkafrost P/F | 1,097,117 | 55,500 | |
ODDITY Tech, Ltd., Class A2,3 | 1,054,343 | 41,394 | |
United Spirits, Ltd. | 2,672,208 | 40,922 | |
Fever-Tree Drinks PLC | 2,980,738 | 40,874 | |
Universal Robina Corp. | 21,279,800 | 40,390 | |
Kobe Bussan Co., Ltd.3 | 1,600,900 | 35,624 | |
Raia Drogasil SA, ordinary nominative shares | 7,187,050 | 33,016 | |
Radico Khaitan, Ltd. | 1,499,109 | 32,004 | |
AAK AB | 1,081,159 | 31,605 | |
Honasa Consumer, Ltd.2 | 5,760,028 | 29,849 | |
Ocado Group PLC2 | 7,972,791 | 29,157 | |
Chongqing Brewery Co., Ltd., Class A | 3,436,312 | 28,670 | |
Humble Group AB1,2 | 28,000,000 | 26,551 | |
Avenue Supermarts, Ltd.2 | 417,313 | 23,602 | |
Fresh Del Monte Produce, Inc. | 1,028,000 | 22,462 | |
TreeHouse Foods, Inc.2 | 520,474 | 19,070 | |
Yamazaki Baking Co., Ltd. | 888,100 | 18,266 | |
Milbon Co., Ltd.3 | 883,406 | 18,221 | |
COSMOS Pharmaceutical Corp. | 221,200 | 17,836 | |
Lotus Bakeries NV | 1,605 | 16,543 | |
Century Pacific Food, Inc. | 25,901,000 | 14,144 | |
PZ Cussons PLC | 9,688,258 | 12,108 | |
First Pacific Co., Ltd. | 18,542,000 | 8,618 | |
Beyond Meat, Inc.2,3 | 73,395 | 492 | |
2,232,947 | |||
Communication services 2.64% | |||
JCDecaux SE2 | 10,577,087 | 207,088 | |
Frontier Communications Parent, Inc.2 | 5,713,739 | 149,586 | |
Indosat Tbk PT | 214,444,701 | 139,899 | |
Hemnet Group AB | 4,336,061 | 130,819 | |
CTS Eventim AG & Co. KGaA | 1,520,141 | 126,877 | |
Lions Gate Entertainment Corp., Class B2 | 13,948,396 | 119,538 | |
Lions Gate Entertainment Corp., Class A2 | 575,000 | 5,416 | |
Nippon Television Holdings, Inc. | 6,223,532 | 90,126 | |
Nexstar Media Group, Inc. | 531,766 | 88,279 | |
Baltic Classifieds Group PLC1 | 26,041,232 | 79,060 | |
New York Times Co., Class A | 1,500,000 | 76,815 | |
Future PLC1 | 5,719,347 | 76,014 | |
Rightmove PLC | 10,786,575 | 72,893 | |
Ubisoft Entertainment SA2 | 2,777,048 | 60,989 | |
Cogent Communications Holdings, Inc. | 981,623 | 55,403 | |
JYP Entertainment Corp. | 1,302,583 | 54,018 | |
Iridium Communications, Inc. | 1,000,000 | 26,620 | |
Iridium Communications, Inc.8 | 636,132 | 16,934 | |
Schibsted ASA, Class A | 978,755 | 28,869 |
SMALLCAP World Fund — Page 14 of 30
unaudited
Common stocks (continued) Communication services (continued) | Shares | Value (000) | |
Trustpilot Group PLC2 | 10,480,000 | $28,466 | |
HYBE Co., Ltd. | 182,486 | 26,853 | |
4imprint Group PLC | 355,107 | 26,155 | |
Airtel Africa PLC | 16,190,342 | 24,609 | |
IHS Holding, Ltd.2,3 | 7,420,104 | 23,744 | |
Kadokawa Corp. | 1,355,700 | 21,815 | |
Bharti Hexacom, Ltd.2 | 912,375 | 12,169 | |
Bharti Hexacom, Ltd.2,6 | 685,997 | 9,150 | |
Ibotta, Inc., Class A2 | 250,000 | 18,790 | |
Lionsgate Studios Corp.2 | 2,076,844 | 16,739 | |
TIM SA | 5,690,917 | 16,166 | |
Gogo, Inc.2 | 1,490,155 | 14,335 | |
JOYY, Inc., Class A (ADR) | 412,500 | 12,412 | |
PROTO Corp.3 | 1,309,200 | 12,071 | |
YouGov PLC | 2,048,623 | 10,513 | |
Playtika Holding Corp. | 1,322,983 | 10,412 | |
PLAYSTUDIOS, Inc., Class A2 | 4,500,000 | 9,315 | |
MTN Group, Ltd. | 1,458,066 | 6,770 | |
Nextdoor Holdings, Inc., Class A2 | 1,315,268 | 3,657 | |
1,909,384 | |||
Energy 2.26% | |||
MEG Energy Corp.2 | 12,893,305 | 275,858 | |
Vallourec SA1,2,3 | 13,141,385 | 205,746 | |
Weatherford International2 | 1,181,677 | 144,696 | |
New Fortress Energy, Inc., Class A3 | 6,535,976 | 143,661 | |
Viper Energy, Inc., Class A | 3,536,827 | 132,737 | |
Transocean, Ltd.2,3 | 22,914,834 | 122,594 | |
Diamond Offshore Drilling, Inc.1,2 | 5,802,737 | 89,884 | |
Cactus, Inc., Class A | 1,650,577 | 87,052 | |
Borr Drilling, Ltd.2,3 | 7,195,448 | 46,411 | |
Borr Drilling, Ltd. (NOK denominated) | 4,820,054 | 30,978 | |
Vista Energy, SAB de CV, Class A (ADR)2 | 1,013,414 | 46,090 | |
Aegis Logistics, Ltd. | 4,292,100 | 44,752 | |
Championx Corp. | 1,344,115 | 44,638 | |
Helmerich & Payne, Inc. | 931,820 | 33,676 | |
Range Resources Corp. | 1,000,000 | 33,530 | |
Kosmos Energy Ltd.2 | 5,976,597 | 33,110 | |
Headwater Exploration, Inc.3 | 5,105,000 | 27,054 | |
Savannah Energy PLC1,2,4 | 96,128,672 | 25,518 | |
DT Midstream, Inc. | 356,000 | 25,287 | |
Pason Systems, Inc. | 1,596,000 | 21,501 | |
Chesapeake Energy Corp.3 | 74,200 | 6,099 | |
Golar LNG, Ltd. | 192,308 | 6,029 | |
United Tractors Tbk PT | 2,186,500 | 2,934 | |
Gaztransport & Technigaz SA | 15,617 | 2,035 | |
1,631,870 | |||
Real estate 1.61% | |||
Embassy Office Parks REIT | 46,985,321 | 199,758 | |
Altus Group, Ltd.1 | 3,672,544 | 135,621 | |
Safestore Holdings PLC1 | 11,013,693 | 107,186 | |
Corp. Inmobiliaria Vesta, SAB de CV3 | 23,866,524 | 71,397 | |
Corp. Inmobiliaria Vesta, SAB de CV (ADR) | 253,400 | 7,600 | |
Phoenix Mills, Ltd. (The)2 | 1,423,116 | 60,926 |
SMALLCAP World Fund — Page 15 of 30
unaudited
Common stocks (continued) Real estate (continued) | Shares | Value (000) | |
Macrotech Developers, Ltd. | 3,328,369 | $59,946 | |
Fibra Uno Administración REIT, SA de CV | 45,053,178 | 55,359 | |
International Workplace Group PLC | 24,424,285 | 53,517 | |
StorageVault Canada, Inc. | 14,813,647 | 50,460 | |
Four Corners Property Trust, Inc. REIT | 1,807,880 | 44,600 | |
ESR-Logos REIT | 222,463,669 | 44,243 | |
SRE Holdings Corp.1,2,3 | 1,290,828 | 38,878 | |
Mindspace Business Parks REIT | 9,000,000 | 35,938 | |
K-Fast Holding AB, Class B1,2 | 18,183,928 | 34,383 | |
Charter Hall Group REIT | 3,866,313 | 28,618 | |
Fastighets AB Balder, Class B2 | 3,821,000 | 26,274 | |
Prisma Properties AB1,2 | 9,781,818 | 25,011 | |
Zillow Group, Inc., Class C, nonvoting shares2 | 525,000 | 24,355 | |
Colliers International Group, Inc.3 | 185,633 | 20,730 | |
CTP NV | 1,113,342 | 18,932 | |
Swedish Logistic Property AB, Class B2 | 4,739,069 | 15,057 | |
Genova Property Group AB2 | 2,126,731 | 9,557 | |
1,168,346 | |||
Utilities 0.57% | |||
Talen Energy Corp.2 | 1,363,759 | 151,405 | |
Black Hills Corp. | 1,415,228 | 76,960 | |
ACEN Corp. | 695,532,524 | 59,349 | |
SembCorp Industries, Ltd. | 16,633,185 | 58,811 | |
Neoenergia SA | 8,585,745 | 28,521 | |
ENN Energy Holdings, Ltd. | 3,166,000 | 26,068 | |
Algonquin Power & Utilities Corp.3 | 2,088,973 | 12,242 | |
Mytrah Energy, Ltd.2,4 | 10,418,000 | — 7 | |
413,356 | |||
Total common stocks (cost: $47,949,685,000) | 68,212,173 | ||
Preferred securities 0.88% Information technology 0.30% | |||
PsiQuantum Corp., Series D, preferred shares2,4,5 | 1,334,542 | 44,547 | |
Skyryse, Inc., Series B, preferred shares1,2,4,5 | 1,649,110 | 36,627 | |
Outreach Corp., Series G, preferred shares2,4,5 | 1,554,053 | 29,325 | |
SiFive, Inc., Series F, preferred shares2,4,5 | 3,451,632 | 27,854 | |
Patreon, Inc., Series E, preferred shares2,4,5 | 698,208 | 21,449 | |
Patreon, Inc., Series Seed, preferred shares2,4,5 | 163,096 | 5,010 | |
Kandou Holding SA, Series D, preferred shares2,4,5 | 4,400,000 | 17,820 | |
ANDPAD, Inc., Series D, preferred shares2,4,5 | 459,413 | 17,704 | |
Yotpo, Ltd., Series F, preferred shares2,4,5 | 8,332,809 | 11,833 | |
Yotpo, Ltd., Series B, preferred shares2,4,5 | 1,111,347 | 1,578 | |
Yotpo, Ltd., Series C, preferred shares2,4,5 | 1,057,985 | 1,502 | |
Yotpo, Ltd., Series A-1, preferred shares2,4,5 | 709,592 | 1,008 | |
Yotpo, Ltd., Series A, preferred shares2,4,5 | 345,899 | 491 | |
Yotpo, Ltd., Series C-1, preferred shares2,4,5 | 293,302 | 417 | |
Yotpo, Ltd., Series D, preferred shares2,4,5 | 163,552 | 232 | |
Yotpo, Ltd., Series B-1, preferred shares2,4,5 | 130,625 | 185 | |
217,582 |
SMALLCAP World Fund — Page 16 of 30
unaudited
Preferred securities (continued) Industrials 0.27% | Shares | Value (000) | |
Relativity Space, Inc., Series D, preferred shares2,4,5 | 2,143,751 | $48,599 | |
Relativity Space, Inc., Series E, preferred shares2,4,5 | 464,197 | 10,523 | |
Zipline International, Inc., Series G, preferred shares2,4,5 | 1,192,000 | 50,000 | |
Einride AB, Series B, preferred shares1,2,4,5 | 1,334,588 | 45,376 | |
Einride AB, Series A, preferred shares1,2,4,5 | 11,990 | 408 | |
ABL Space Systems Co., Series B, 5.00% cumulative preferred shares2,4,5,9 | 777,162 | 25,414 | |
ABL Space Systems Co., Series C1, 5.00% cumulative preferred shares2,4,5,9 | 74,599 | 2,439 | |
Workrise Technologies, Inc., Series E, preferred shares2,4,5 | 95,423 | 14,863 | |
197,622 | |||
Health care 0.15% | |||
Sail Biomedicines, Inc., Series B, 6.00% preferred shares2,4,5 | 1,785,714 | 50,768 | |
InSilico Medicine Cayman TopCo, Series D, preferred shares2,4,5 | 605,423 | 22,219 | |
KRY International AB, Series E, preferred shares2,4,5 | 114,059 | 14,072 | |
ClearNote Health, Inc., Series C, 5.00% noncumulative preferred shares2,4,5 | 1,531,102 | 9,814 | |
Artiva Biotherapeutics, Inc., Series B, preferred shares2,4,5 | 636,364 | 6,924 | |
103,797 | |||
Financials 0.10% | |||
PPRO Holding GmbH, Series B-1, 8.00% preferred shares2,4,5 | 13,618 | 43,042 | |
Pine Labs Pte., Ltd., Series J, cumulative preferred shares2,4,5 | 57,100 | 19,122 | |
Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares2,3 | 2,000,000 | 9,600 | |
71,764 | |||
Real estate 0.05% | |||
QuintoAndar, Ltd., Series E-1, preference shares2,4,5 | 244,733 | 35,824 | |
Consumer discretionary 0.01% | |||
StockX, Inc., Series E-1, preferred shares2,4,5 | 222,222 | 7,487 | |
StockX, Inc., Series AA, preferred shares2,4,5 | 57,338 | 1,932 | |
StockX, Inc., Series B, preferred shares2,4,5 | 3,094 | 104 | |
9,523 | |||
Total preferred securities (cost: $727,932,000) | 636,112 | ||
Rights & warrants 0.04% Industrials 0.04% | |||
Warom Technology, Inc. Co., Class A, warrants, expire 9/30/20242,8 | 8,603,931 | 26,144 | |
Centre Testing International Group Co., Ltd., Class A, warrants, expire 3/28/20252,8 | 3,465,100 | 4,802 | |
Momentus, Inc., warrants, expire 5/15/20262 | 2,225,000 | 17 | |
ABL Space Systems Co., Series C-1, warrants, expire 12/13/20302,4,5 | 55,949 | — 7 | |
30,963 | |||
Information technology 0.00% | |||
Foursquare Labs, Inc., Series A, warrants, expire 12/4/20332,4,5 | 1,163,990 | 2 | |
Kandou Holding SA, warrants, expire 8/18/20282,4,5 | 2,257,143 | — 7 | |
Tarana Wireless, Inc., Class C, warrants, expire 4/1/20292,4,5 | 1 | — 7 | |
2 |
SMALLCAP World Fund — Page 17 of 30
unaudited
Rights & warrants (continued) Health care 0.00% | Shares | Value (000) | |
Amplifon SpA, rights, expire 7/9/20242 | 2,337,030 | $— 7 | |
Total rights & warrants (cost: $35,945,000) | 30,965 | ||
Convertible stocks 0.06% Information technology 0.04% | |||
Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares4,5 | 14,888,589 | 15,922 | |
Tarana Wireless, Inc., Series 7, noncumulative convertible preferred shares4,5 | 935,103 | 1,000 | |
Tarana Wireless, Inc., Class 7A, convertible preferred shares4,5 | 935,103 | 1,000 | |
RealSelf, Inc., Series C, convertible preferred shares1,4,5 | 3,468,862 | 10,754 | |
28,676 | |||
Utilities 0.02% | |||
TAE Technologies, Inc., Series G2, 4.00% cumulative convertible preferred shares4,5 | 300,000 | 17,916 | |
Total convertible stocks (cost: $63,179,000) | 46,592 | ||
Convertible bonds & notes 0.04% Information technology 0.04% | Principal amount (000) | ||
PayClip, Inc., convertible notes, 4.50% PIK 12/15/20281,4,5,9 | USD23,670 | 25,281 | |
Real estate 0.00% | |||
Genova Property Group AB, convertible notes, 6.75% 3/19/20294 | SEK20,000 | 2,170 | |
Health care 0.00% | |||
ClearNote Health, Inc., convertible notes, 8.00% 10/28/20251,4,5 | USD2,000 | 2,000 | |
Total convertible bonds & notes (cost: $29,234,000) | 29,451 | ||
Short-term securities 5.74% Money market investments 5.04% | Shares | ||
Capital Group Central Cash Fund 5.37%1,10 | 36,429,938 | 3,642,994 | |
Money market investments purchased with collateral from securities on loan 0.70% | |||
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 5.23%10,11 | 77,021,719 | 77,021 | |
Dreyfus Treasury Obligations Cash Management, Institutional Shares 5.18%10,11 | 70,900,000 | 70,900 | |
Capital Group Central Cash Fund 5.37%1,10,11 | 704,658 | 70,466 | |
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.25%10,11 | 55,700,000 | 55,700 | |
BlackRock Liquidity Funds – FedFund, Institutional Shares 5.21%10,11 | 50,700,000 | 50,700 | |
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.22%10,11 | 50,700,000 | 50,700 | |
Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 5.22%10,11 | 50,700,000 | 50,700 |
SMALLCAP World Fund — Page 18 of 30
unaudited
Short-term securities (continued) Money market investments purchased with collateral from securities on loan (continued) | Shares | Value (000) | |
Fidelity Investments Money Market Government Portfolio, Class I 5.21%10,11 | 40,500,000 | $40,500 | |
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 5.23%10,11 | 40,500,000 | 40,500 | |
507,187 | |||
Total short-term securities (cost: $4,150,045,000) | 4,150,181 | ||
Total investment securities 101.09% (cost: $52,956,020,000) | 73,105,474 | ||
Other assets less liabilities (1.09)% | (790,047 ) | ||
Net assets 100.00% | $72,315,427 |
Investments in affiliates1
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Common stocks 27.88% | |||||||
Industrials 8.76% | |||||||
Saia, Inc.2 | $790,357 | $— | $233,810 | $126,246 | $18,559 | $701,352 | $— |
Comfort Systems USA, Inc. | 388,358 | — | 58,159 | 34,625 | 258,371 | 623,195 | 1,714 |
Diploma PLC | 391,737 | 4,038 | 3,427 | (485 ) | 167,607 | 559,470 | 7,799 |
Interpump Group SpA | 362,114 | 16,898 | 11,654 | (2,287 ) | (11,367 ) | 353,704 | 2,782 |
AZEK Co., Inc. (The), Class A2 | 270,308 | — | 38,622 | 19,971 | 97,852 | 349,509 | — |
CBIZ, Inc.2 | — | 269,545 | — | — | 21,848 | 291,393 | — |
Stericycle, Inc.2 | 188,829 | 89,142 | 70,752 | 3,400 | 76,307 | 286,926 | — |
Hensoldt AG | 139,317 | 139,941 | 38,736 | (3,654 ) | 45,081 | 281,949 | 3,335 |
Kadant, Inc. | 137,989 | 90,555 | — | — | 39,448 | 267,992 | 641 |
Wizz Air Holdings PLC2 | 169,301 | 22,600 | — | — | 36,130 | 228,031 | — |
ATS Corp.2 | 312,874 | 42,128 | 54,437 | (13,010 ) | (65,947 ) | 221,608 | — |
ICF International, Inc. | 118,210 | 56,940 | — | — | 32,354 | 207,504 | 581 |
Harmonic Drive Systems, Inc.3 | 129,347 | 19,195 | 10,059 | (3,791 ) | 40,128 | 174,820 | 423 |
Munters Group AB | 76,651 | 79,605 | 10,114 | 5,991 | 21,698 | 173,831 | 416 |
Enerpac Tool Group Corp., Class A | 111,764 | 3,807 | — | — | 50,412 | 165,983 | 169 |
Enpro, Inc.12 | 165,188 | — | 45,564 | 12,258 | 23,005 | 154,887 | 1,095 |
Carel Industries SpA3 | 142,928 | 59,522 | 25,646 | (9,105 ) | (26,331 ) | 141,368 | 1,550 |
MYR Group, Inc.2 | — | 156,813 | — | — | (15,804 ) | 141,009 | — |
Visional, Inc.2,3 | 157,084 | — | — | — | (16,684 ) | 140,400 | — |
DO & CO AG, non-registered shares | 85,526 | — | — | — | 53,018 | 138,544 | — |
VSE Corp. | — | 100,092 | — | — | 22,105 | 122,197 | 95 |
Japan Elevator Service Holdings Co., Ltd. | 93,511 | 11,458 | 8,840 | (247 ) | 10,216 | 106,098 | 1,177 |
Volution Group PLC | 68,931 | — | — | — | 20,281 | 89,212 | 1,636 |
Johns Lyng Group, Ltd. | 87,549 | 5,665 | — | — | (9,208 ) | 84,006 | 638 |
Montana Aerospace AG2 | 41,774 | 456 | — | — | 29,034 | 71,264 | — |
Instalco AB | 56,884 | 10,688 | 21,749 | 1,778 | 14,653 | 62,254 | 1,216 |
Judges Scientific PLC | 27,407 | 17,460 | — | — | 5,912 | 50,779 | 432 |
NORMA Group SE, non-registered shares | 46,393 | 850 | — | — | (94 ) | 47,149 | 1,246 |
Marlowe PLC | 49,092 | — | 2,202 | (3,149 ) | (8,371 ) | 35,370 | 13,697 |
Alfen NV2,3 | 42,858 | 14,920 | — | — | (32,324 ) | 25,454 | — |
Fasadgruppen Group AB | 20,911 | — | 3,082 | (3,191 ) | 5,638 | 20,276 | 304 |
Einride AB2,4,5 | 14,502 | — | — | — | 399 | 14,901 | — |
Arcosa, Inc.13 | 212,365 | — | 68,744 | 28,466 | 3,570 | — | 425 |
SMALLCAP World Fund — Page 19 of 30
unaudited
Investments in affiliates1 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
BayCurrent Consulting, Inc.13 | $239,295 | $27,685 | $164,901 | $53,333 | $(130,987 ) | $— | $596 |
Daiseki Co., Ltd.13 | 79,732 | 11,845 | 43,517 | (21,099 ) | 3,469 | — | 731 |
dip Corp.14 | 82,216 | — | 57,389 | (23,435 ) | (1,392 ) | — | 435 |
Norva24 Group AB2,13 | 16,410 | — | 3,606 | (1,388 ) | 9,783 | — | — |
Titagarh Rail Systems, Ltd.14 | 69,102 | — | 40,523 | 5,618 | (34,197 ) | — | — |
Titagarh Rail Systems, Ltd.2,13 | — | 38,964 | 57,088 | 35,058 | 64,440 | — | — |
6,332,435 | |||||||
Consumer discretionary 5.94% | |||||||
TopBuild Corp.2 | 607,624 | — | 90,591 | 45,132 | 272,085 | 834,250 | — |
CAVA Group, Inc.2 | 137,794 | 115,615 | 31,496 | 25,047 | 434,828 | 681,788 | — |
Tube Investments of India, Ltd. | 418,011 | — | 46,490 | 31,352 | 134,336 | 537,209 | 280 |
Boot Barn Holdings, Inc.2 | 145,103 | 36,347 | 25,785 | 11,069 | 90,301 | 257,035 | — |
Melco Resorts & Entertainment, Ltd. (ADR)2 | 205,242 | 105,861 | — | — | (57,227 ) | 253,876 | — |
Cavco Industries, Inc.2 | 156,421 | 6,507 | — | — | 46,811 | 209,739 | — |
YETI Holdings, Inc.2 | 334,582 | 406 | 67,017 | (43,371 ) | (31,424 ) | 193,176 | — |
Lottomatica Group SpA | 97,115 | 62,116 | — | — | 33,943 | 193,174 | 3,854 |
Ermenegildo Zegna NV3 | 53,718 | 130,192 | — | — | (22,163 ) | 161,747 | — |
Pets at Home Group PLC | 137,997 | 13,111 | — | — | (10,694 ) | 140,414 | 5,903 |
Domino’s Pizza Group PLC | 120,592 | — | — | — | (18,716 ) | 101,876 | 2,395 |
Rusta AB | — | 57,566 | — | — | 31,449 | 89,015 | — |
Watches of Switzerland Group PLC2 | 124,322 | 7,269 | 15,716 | (30,119 ) | 3,149 | 88,905 | — |
DPC Dash, Ltd.2 | 81,980 | 3,462 | — | — | 561 | 86,003 | — |
Jack in the Box, Inc. | 110,952 | — | — | — | (29,111 ) | 81,841 | 2,121 |
Auction Technology Group PLC2 | 76,877 | — | — | — | (15,806 ) | 61,071 | — |
Malibu Boats, Inc., Class A2 | 80,834 | — | — | — | (23,053 ) | 57,781 | — |
Aditya Vision, Ltd.6 | — | 32,407 | — | — | 7,725 | 40,132 | 46 |
Aditya Vision, Ltd. | — | 11,191 | — | — | 3,408 | 14,599 | 17 |
Shoei Co., Ltd.3 | 65,655 | — | — | — | (13,209 ) | 52,446 | (282 ) |
tonies SE, Class A2 | — | 40,647 | — | — | 6,021 | 46,668 | — |
Beazer Homes USA, Inc.2 | 41,346 | — | — | — | 4,266 | 45,612 | — |
Jiumaojiu International Holdings, Ltd.3 | 81,217 | 10,517 | 2,017 | (2,266 ) | (50,015 ) | 37,436 | 1,390 |
Traeger, Inc.2 | 16,912 | 713 | — | — | (2,026 ) | 15,599 | — |
Victoria PLC2 | 58,453 | — | 7,563 | (33,495 ) | (4,322 ) | 13,073 | — |
BNN Technology PLC2,4 | — 7 | — | — | — | — 7 | — 7 | — |
AcadeMedia AB14 | 25,156 | — | 28,185 | 666 | 2,363 | — | 577 |
Golden Entertainment, Inc.13 | 77,051 | — | 56,065 | (30,540 ) | 22,532 | — | 668 |
MakeMyTrip, Ltd.2,13 | 180,951 | — | 86,149 | 42,475 | 131,403 | — | — |
MasterCraft Boat Holdings, Inc.2,13 | 21,666 | — | 5,853 | (3,275 ) | 227 | — | — |
Musti Group OYJ14 | 45,510 | — | 68,248 | 33,505 | (10,767 ) | — | 224 |
Snow Peak, Inc.14 | 21,058 | — | 17,863 | (39,148 ) | 35,953 | — | — |
WH Smith PLC14 | 150,890 | — | 140,203 | (26,195 ) | 15,508 | — | 1,112 |
4,294,465 | |||||||
Information technology 5.69% | |||||||
Kokusai Electric Corp.3 | — | 262,490 | 33,451 | 440 | 272,976 | 502,455 | 1,313 |
Insight Enterprises, Inc.2 | 119,948 | 299,681 | — | — | 77,183 | 496,812 | — |
eMemory Technology, Inc. | 334,789 | 53,827 | 7,702 | 4,060 | 84,584 | 469,558 | — |
Global Unichip Corp. | 283,935 | 3,421 | — | — | 45,483 | 332,839 | 2,930 |
Softcat PLC | 154,074 | 87,819 | 13,098 | (2,717 ) | 63,738 | 289,816 | 4,447 |
Dexerials Corp. | 127,286 | — | — | — | 113,552 | 240,838 | 2,217 |
SMALLCAP World Fund — Page 20 of 30
unaudited
Investments in affiliates1 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
ALTEN SA, non-registered shares | $242,196 | $65,871 | $30,513 | $(12,623 ) | $(30,176 ) | $234,755 | $3,416 |
Maruwa Co., Ltd. | 155,017 | — | 5,025 | 2,105 | 80,015 | 232,112 | 281 |
Kulicke and Soffa Industries, Inc. | 228,531 | — | — | — | 2,632 | 231,163 | 2,820 |
Money Forward, Inc.2 | 113,730 | 29,454 | — | — | 3,610 | 146,794 | — |
SINBON Electronics Co., Ltd. | 101,676 | 46,914 | 11,435 | 912 | (8,895 ) | 129,172 | — |
SHIFT, Inc.2,3 | 130,590 | 130,469 | 16,560 | (20,737 ) | (110,658 ) | 113,104 | — |
PAR Technology Corp.2,3 | 70,916 | — | 14,262 | (8,070 ) | 22,995 | 71,579 | — |
PAR Technology Corp.2,5 | — | 32,420 | — | — | 7,080 | 39,500 | — |
Tanla Platforms, Ltd. | 114,798 | — | 7,779 | (207 ) | (11,010 ) | 95,802 | 665 |
Viavi Solutions, Inc.2 | 62,426 | 124,279 | 51,157 | (29,968 ) | (22,030 ) | 83,550 | — |
Mastek, Ltd. | 70,773 | — | — | — | 9,176 | 79,949 | 206 |
Tri Chemical Laboratories, Inc.3 | 53,455 | — | — | — | 16,903 | 70,358 | 525 |
Megaport, Ltd.2 | 70,009 | — | — | — | (2,002 ) | 68,007 | — |
Esker SA | — | 64,361 | — | — | (1,859 ) | 62,502 | 231 |
SmartCraft ASA, Class A2 | 27,278 | — | — | — | 12,557 | 39,835 | — |
GFT Technologies SE | 30,780 | 7,154 | — | — | (1,781 ) | 36,153 | 724 |
A&D HOLON Holdings Co., Ltd. | — | 27,714 | — | — | (105 ) | 27,609 | 34 |
Noventiq Holdings PLC (GDR)2,4,8 | 34,599 | — | — | — | (13,161 ) | 21,438 | — |
Noventiq Holdings PLC (GDR)2,4 | 32 | — | — | — | (12 ) | 20 | — |
Applied Digital Corp.14 | 7,624 | 28,696 | 32,089 | (4,178 ) | (53 ) | — | — |
Bytes Technology Group PLC13 | 96,273 | 15,256 | 52,581 | (6,172 ) | 14,221 | — | 531 |
Keywords Studios PLC13 | 119,168 | 6,848 | 161,762 | (23,343 ) | 87,519 | — | 152 |
Lumine Group, Inc., subordinate voting shares2,13 | 50,520 | 23,220 | — | — | 64,452 | — | — |
Nordic Semiconductor ASA2,13 | 152,246 | 3,786 | 71,645 | (78,073 ) | 90,760 | — | — |
Rogers Corp.14 | 167,737 | 3,467 | 151,841 | (43,129 ) | 23,766 | — | — |
Semtech Corp.2,13 | 97,867 | — | 48,379 | 13,506 | 7,902 | — | — |
Smartsheet, Inc., Class A2,13 | 288,745 | — | 136,455 | 6,484 | 1,959 | — | — |
Socionext, Inc.3,13 | 200,355 | 30,335 | 133,102 | 52,416 | (9,399 ) | — | 1,388 |
4,115,720 | |||||||
Financials 2.81% | |||||||
Essent Group, Ltd. | 406,924 | — | 80,037 | 12,083 | 60,252 | 399,222 | 6,270 |
360 ONE WAM, Ltd. | 172,411 | 3,318 | — | — | 161,945 | 337,674 | 4,125 |
Janus Henderson Group PLC | 211,706 | 2,552 | — | — | 64,922 | 279,180 | 9,658 |
IIFL Finance, Ltd. | 199,491 | 33,724 | 6,755 | 1,311 | (18,886 ) | 208,885 | 1,324 |
AUB Group, Ltd. | 110,199 | 9,688 | — | — | 16,197 | 136,084 | 782 |
Goosehead Insurance, Inc., Class A2 | 142,235 | 3,232 | — | — | (33,347 ) | 112,120 | — |
Aptus Value Housing Finance India, Ltd. | 43,342 | 78,231 | 13,606 | (2,822 ) | 3,180 | 108,325 | 1,367 |
JB Financial Group Co., Ltd. | 71,375 | 3,458 | — | — | 31,434 | 106,267 | 6,854 |
BFF Bank SpA | 101,268 | 2,071 | — | — | (4,859 ) | 98,480 | 5,959 |
Skyward Specialty Insurance Group, Inc.2 | — | 74,182 | — | — | 5,863 | 80,045 | — |
Trupanion, Inc.2 | 92,981 | — | 24,599 | (72,261 ) | 71,873 | 67,994 | — |
Boku, Inc.2,5 | 36,407 | — | — | — | 10,546 | 46,953 | — |
Premium Group Co., Ltd. | 13,733 | 12,496 | — | — | 5,612 | 31,841 | 234 |
Hellenic Exchanges - Athens Stock Exchange SA | 17,700 | — | — | — | 453 | 18,153 | 941 |
2,031,223 | |||||||
Health care 1.95% | |||||||
Haemonetics Corp.2 | 275,097 | 19,838 | 24,943 | 1,686 | (25,234 ) | 246,444 | — |
Xenon Pharmaceuticals, Inc.2 | 161,278 | 14,431 | — | — | 25,349 | 201,058 | — |
agilon health, Inc.2,3 | 232,910 | 113,518 | 10,031 | (3,552 ) | (158,439 ) | 174,406 | — |
SMALLCAP World Fund — Page 21 of 30
unaudited
Investments in affiliates1 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Tandem Diabetes Care, Inc.2 | $99,362 | $1,929 | $14,884 | $(36,787 ) | $122,490 | $172,110 | $— |
Structure Therapeutics, Inc. (ADR)2 | 21,461 | 191,369 | 12,535 | (6,359 ) | (27,041 ) | 166,895 | — |
BONESUPPORT Holding AB2 | 60,470 | 1,122 | — | — | 69,012 | 130,604 | — |
Gubra AS2,3 | — | 53,119 | — | — | 34,843 | 87,962 | — |
Rapport Therapeutics, Inc.2,3,6 | — | 25,000 | — | — | 15,494 | 40,494 | — |
Rapport Therapeutics, Inc.2 | — | 14,647 | — | — | 5,394 | 20,041 | — |
Bangkok Chain Hospital PCL | 33,841 | 39,144 | — | — | (12,469 ) | 60,516 | 877 |
Surgical Science Sweden AB2,3 | 44,990 | — | — | — | (6,395 ) | 38,595 | — |
KalVista Pharmaceuticals, Inc.2,3 | — | 35,951 | — | — | 2,070 | 38,021 | — |
Revance Therapeutics, Inc.2,3 | 77,197 | 4,086 | — | — | (62,306 ) | 18,977 | — |
Ventyx Biosciences, Inc.2,3 | 94,738 | 23,612 | 2,558 | (22,744 ) | (80,926 ) | 12,122 | — |
Amvis Holdings, Inc.13 | 113,761 | 4,816 | 65,151 | (7,741 ) | (5,407 ) | — | — |
CONMED Corp.13 | 220,960 | 45,357 | 107,735 | (31,191 ) | (25,109 ) | — | 1,127 |
Integra LifeSciences Holdings Corp.2,13 | 104,993 | 99,280 | 77,660 | (58,977 ) | (7,348 ) | — | — |
Jeisys Medical, Inc.14 | 50,581 | 3,457 | 56,861 | 20,264 | (17,441 ) | — | — |
Max Healthcare Institute, Ltd.13 | 338,657 | — | 62,007 | 30,894 | 176,401 | — | — |
Netcare, Ltd.14 | 52,520 | — | 49,122 | (17,362 ) | 13,964 | — | 909 |
Nordhealth AS, Class A2,13 | 11,907 | — | 595 | (412 ) | 3,603 | — | — |
Ocumension Therapeutics2,13 | 35,083 | — | 13,970 | (46,201 ) | 43,048 | — | — |
Precision BioSciences, Inc.14 | 2,292 | — | 2,655 | (59,459 ) | 59,822 | — | — |
Silk Road Medical, Inc.2,13 | 44,471 | 2,420 | 57,490 | (44,903 ) | 81,717 | — | — |
Zentalis Pharmaceuticals, Inc.2,13 | 76,444 | — | 21,799 | (56,857 ) | 4,974 | — | — |
1,408,245 | |||||||
Materials 1.02% | |||||||
APL Apollo Tubes, Ltd. | 336,340 | 5,064 | 47,790 | 10,558 | (25,679 ) | 278,493 | — |
Materion Corp. | 124,589 | 16,164 | 1,567 | 574 | 6,489 | 146,249 | 483 |
Sandstorm Gold, Ltd. | 65,147 | 46,846 | — | — | 10,153 | 122,146 | 629 |
Fujimi, Inc.3 | 101,615 | 6,358 | — | — | (6,991 ) | 100,982 | 1,288 |
MEC Co., Ltd.3 | 39,715 | — | — | — | 6,432 | 46,147 | 483 |
Asahi Yukizai Corp.3 | — | 44,339 | — | — | 1,650 | 45,989 | 147 |
Aluflexpack AG14 | 17,164 | — | 21,359 | (14,971 ) | 19,166 | — | — |
LANXESS AG3,13 | 175,761 | — | 77,672 | (99,072 ) | 100,105 | — | 438 |
Re:NewCell AB14 | 16,715 | — | 2,475 | (23,346 ) | 9,106 | — | — |
Sumitomo Bakelite Co., Ltd.13 | 5,690 | 100,720 | 8,459 | 1,644 | 31,846 | — | 1,259 |
Zeon Corp.13 | 161,880 | 13,390 | 78,056 | (11,410 ) | (16,621 ) | — | 1,803 |
740,006 | |||||||
Consumer staples 0.59% | |||||||
Grocery Outlet Holding Corp.2 | 161,386 | 96,275 | 33,424 | (6,337 ) | (42,307 ) | 175,593 | — |
Redcare Pharmacy NV, non-registered shares2,3 | 90,906 | 27,403 | — | — | 8,517 | 126,826 | — |
Kotobuki Spirits Co., Ltd. | 44,352 | 72,196 | — | — | (22,346 ) | 94,202 | 1,155 |
Humble Group AB2 | 18,613 | 6,058 | — | — | 1,880 | 26,551 | — |
Emmi AG13 | 299,833 | — | 102,274 | 45,994 | (31,421 ) | — | 5,396 |
Simply Good Foods Co.2,13 | 203,594 | — | 52,641 | 9,183 | (5,920 ) | — | — |
423,172 |
SMALLCAP World Fund — Page 22 of 30
unaudited
Investments in affiliates1 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Communication services 0.21% | |||||||
Baltic Classifieds Group PLC | $— | $77,864 | $— | $— | $1,196 | $79,060 | $— |
Future PLC | — | 49,832 | — | — | 26,182 | 76,014 | — |
Hemnet Group AB13 | 101,562 | — | 38,374 | 14,989 | 52,642 | — | 614 |
S4 Capital PLC14 | 35,999 | — | 25,739 | (24,865 ) | 14,605 | — | — |
155,074 | |||||||
Energy 0.44% | |||||||
Vallourec SA2,3 | 158,894 | 991 | — | — | 45,861 | 205,746 | — |
Diamond Offshore Drilling, Inc.2 | 37,644 | 42,434 | — | — | 9,806 | 89,884 | — |
Savannah Energy PLC2,4 | 27,715 | — | — | — | (2,197 ) | 25,518 | — |
321,148 | |||||||
Real estate 0.47% | |||||||
Altus Group, Ltd. | 127,050 | 71 | — | — | 8,500 | 135,621 | 1,225 |
Safestore Holdings PLC | 72,780 | 27,921 | — | — | 6,485 | 107,186 | 2,680 |
SRE Holdings Corp.2,3 | 25,409 | — | — | — | 13,469 | 38,878 | — |
K-Fast Holding AB, Class B2 | 19,762 | 4,463 | — | — | 10,158 | 34,383 | — |
Prisma Properties AB2 | — | 25,669 | — | — | (658 ) | 25,011 | — |
JHSF Participa��es SA14 | 45,902 | — | 37,192 | (22,002 ) | 13,292 | — | 1,474 |
341,079 | |||||||
Utilities 0.00% | |||||||
Mytrah Energy, Ltd.2,4 | 127 | — | — | — | (127 ) | — 7 | — |
Total common stocks | 20,162,567 | ||||||
Preferred securities 0.11% | |||||||
Information technology 0.05% | |||||||
Skyryse, Inc., Series B, preferred shares2,4,5 | 36,627 | — | — | — | — | 36,627 | — |
Industrials 0.06% | |||||||
Einride AB, Series B, preferred shares2,4,5 | 44,160 | — | — | — | 1,216 | 45,376 | — |
Einride AB, Series A, preferred shares2,4,5 | 397 | — | — | — | 11 | 408 | — |
45,784 | |||||||
Health care 0.00% | |||||||
ClearNote Health, Inc., Series C, 5.00% noncumulative preferred shares2,4,5,12,13 | 11,330 | — | — | — | (1,516 ) | — | — |
Rapport Therapeutics, Inc., Series B, 8.00% noncumulative preferred shares14 | 21,000 | 4,000 | 25,000 | — | — | — | — |
— | |||||||
Financials 0.00% | |||||||
PPRO Holding GmbH, Series B-1, 8.00% preferred shares2,4,5,13 | 35,920 | — | — | — | 7,122 | — | — |
Total preferred securities | 82,411 | ||||||
Convertible stocks 0.02% | |||||||
Information technology 0.02% | |||||||
RealSelf, Inc., Series C, convertible preferred shares4,5 | 9,921 | — | — | — | 833 | 10,754 | — |
Convertible bonds & notes 0.04% | |||||||
Information technology 0.04% | |||||||
PayClip, Inc.4,5,9 | — | 25,281 | — | — | — | 25,281 | 326 |
SMALLCAP World Fund — Page 23 of 30
unaudited
Investments in affiliates1 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Health care 0.00% | |||||||
ClearNote Health, Inc., convertible notes, 8.00% 10/28/20254,5,12 | $2,000 | $— | $— | $— | $— | $2,000 | $120 |
Total convertible bonds & notes | 27,281 | ||||||
Short-term securities 5.13% | |||||||
Money market investments 5.04% | |||||||
Capital Group Central Cash Fund 5.37%10 | 5,128,740 | 4,588,819 | 6,075,157 | 609 | (17 ) | 3,642,994 | 136,223 |
Money market investments purchased with collateral from securities on loan 0.09% | |||||||
Capital Group Central Cash Fund 5.37%10,11 | 59,944 | 10,522 15 | 70,466 | — 16 | |||
Total short-term securities | 3,713,460 | ||||||
Total 33.18% | $(446,396 ) | $3,555,043 | $23,996,473 | $279,488 |
Restricted securities5
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Einride AB, Series B, preferred shares1,2,4 | 3/23/2021-5/6/2021 | $18,753 | $45,376 | .06 % |
Einride AB1,2,4 | 7/16/2021-2/1/2023 | 10,542 | 14,901 | .02 |
Einride AB, Series A, preferred shares1,2,4 | 10/11/2021 | 311 | 408 | .00 17 |
Relativity Space, Inc., Series D, preferred shares2,4 | 11/20/2020 | 32,000 | 48,599 | .07 |
Relativity Space, Inc., Series E, preferred shares2,4 | 5/27/2021 | 10,600 | 10,523 | .01 |
Sail Biomedicines, Inc., Series B, 6.00% preferred shares2,4 | 8/10/2021 | 50,000 | 50,768 | .07 |
Zipline International, Inc., Series G, preferred shares2,4 | 6/7/2024 | 50,000 | 50,000 | .07 |
Boku, Inc.1,2 | 2/1/2021-9/21/2021 | 48,584 | 46,953 | .07 |
Pine Labs Pte., Ltd.2,4 | 5/12/2021 | 28,710 | 25,785 | .03 |
Pine Labs Pte., Ltd., Series J, cumulative preferred shares2,4 | 5/12/2021 | 21,291 | 19,122 | .03 |
PsiQuantum Corp., Series D, preferred shares2,4 | 5/28/2021 | 35,000 | 44,547 | .06 |
PPRO Holding GmbH, Series B-1, 8.00% preferred shares2,4 | 1/28/2021 | 48,694 | 43,042 | .06 |
PAR Technology Corp.1,2 | 3/8/2024 | 32,420 | 39,500 | .05 |
Skyryse, Inc., Series B, preferred shares1,2,4 | 10/21/2021 | 40,700 | 36,627 | .05 |
QuintoAndar, Ltd., Series E-1, preference shares2,4 | 12/20/2021 | 50,000 | 35,824 | .05 |
Patreon, Inc., Series E, preferred shares2,4 | 9/1/2020 | 11,944 | 21,449 | .03 |
Patreon, Inc., Class B2,4 | 10/26/2020-10/27/2020 | 3,255 | 5,835 | .01 |
Patreon, Inc., Series Seed, preferred shares2,4 | 9/16/2020 | 2,790 | 5,010 | .01 |
Outreach Corp., Series G, preferred shares2,4 | 5/27/2021 | 45,482 | 29,325 | .04 |
SiFive, Inc., Series F, preferred shares2,4 | 3/16/2022 | 25,000 | 27,854 | .04 |
ABL Space Systems Co., Series B, 5.00% cumulative preferred shares2,4,9 | 3/24/2021 | 35,000 | 25,414 | .04 |
ABL Space Systems Co., Series C1, 5.00% cumulative preferred shares2,4,9 | 12/14/2023 | 2,439 | 2,439 | .00 17 |
ABL Space Systems Co., Series C-1, warrants, expire 12/13/20302,4 | 12/14/2023 | — 7 | — 7 | .00 17 |
PayClip, Inc., convertible notes, 4.50% PIK 12/15/20281,4,9 | 5/29/2024-6/17/2024 | 25,280 | 25,281 | .04 |
Dock, Ltd.2,4 | 10/19/2020 | 26,000 | 24,834 | .03 |
BridgeBio Pharma, Inc.2 | 9/25/2023 | 26,333 | 24,460 | .03 |
InSilico Medicine Cayman TopCo, Series D, preferred shares2,4 | 5/13/2022-7/18/2022 | 23,685 | 22,219 | .03 |
Yotpo, Ltd., Series F, preferred shares2,4 | 2/25/2021 | 18,329 | 11,833 | .02 |
SMALLCAP World Fund — Page 24 of 30
unaudited
Restricted securities5 (continued)
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Yotpo, Ltd.2,4 | 3/16/2021 | $5,475 | $3,721 | .01 % |
Yotpo, Ltd., Series B, preferred shares2,4 | 3/16/2021 | 2,322 | 1,578 | .00 17 |
Yotpo, Ltd., Series C, preferred shares2,4 | 3/16/2021 | 2,211 | 1,502 | .00 17 |
Yotpo, Ltd., Series A-1, preferred shares2,4 | 3/16/2021 | 1,483 | 1,008 | .00 17 |
Yotpo, Ltd., Series A, preferred shares2,4 | 3/16/2021 | 723 | 491 | .00 17 |
Yotpo, Ltd., Series C-1, preferred shares2,4 | 3/16/2021 | 613 | 417 | .00 17 |
Yotpo, Ltd., Series D, preferred shares2,4 | 3/16/2021 | 341 | 232 | .00 17 |
Yotpo, Ltd., Series B-1, preferred shares2,4 | 3/16/2021 | 273 | 185 | .00 17 |
Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares4 | 2/18/2022 | 12,179 | 15,922 | .03 |
Tarana Wireless, Inc., Series 7, noncumulative convertible preferred shares4 | 6/27/2023 | 1,000 | 1,000 | .00 17 |
Tarana Wireless, Inc., Class 7A, convertible preferred shares4 | 4/4/2024 | 1,000 | 1,000 | .00 17 |
Tarana Wireless, Inc., Class C, warrants, expire 4/1/20292,4 | 4/4/2024 | — 7 | — 7 | .00 17 |
TAE Technologies, Inc., Series G2, 4.00% cumulative convertible preferred shares4 | 7/7/2022 | 30,000 | 17,916 | .03 |
Kandou Holding SA, Series D, preferred shares2,4 | 11/17/2021-8/18/2023 | 30,800 | 17,820 | .02 |
Kandou Holding SA, warrants, expire 8/18/20282,4 | 8/18/2023 | — 7 | — 7 | .00 17 |
ANDPAD, Inc., Series D, preferred shares2,4 | 6/30/2022 | 19,506 | 17,704 | .02 |
KRY International AB, Series E, preferred shares2,4 | 5/13/2021 | 51,891 | 14,072 | .02 |
KRY International AB, Series A2,4 | 5/13/2021 | 8,533 | 2,436 | .00 17 |
StockX, Inc., Series E-1, preferred shares2,4 | 4/15/2021 | 20,000 | 7,487 | .01 |
StockX, Inc.2,4 | 4/5/2021 | 14,682 | 5,451 | .01 |
StockX, Inc., Series AA, preferred shares2,4 | 4/5/2021 | 5,203 | 1,932 | .00 17 |
StockX, Inc., Series B, preferred shares2,4 | 4/5/2021 | 281 | 104 | .00 17 |
Workrise Technologies, Inc., Series E, preferred shares2,4 | 3/8/2021 | 40,000 | 14,863 | .02 |
ClearNote Health, Inc., Series C, 5.00% noncumulative preferred shares2,4,12 | 4/26/2021 | 15,101 | 9,814 | .02 |
ClearNote Health, Inc., convertible notes, 8.00% 10/28/20251,4,12 | 12/1/2022 | 2,000 | 2,000 | .00 17 |
RealSelf, Inc., Series C, convertible preferred shares1,4 | 4/18/2018 | 19,000 | 10,754 | .02 |
Artiva Biotherapeutics, Inc., Series B, preferred shares2,4 | 2/24/2021 | 7,000 | 6,924 | .01 |
Foursquare Labs, Inc., Series A2,4 | 12/3/2013 | 20,000 | 1,951 | .00 17 |
Foursquare Labs, Inc., Series A, warrants, expire 12/4/20332,4 | 8/22/2014 | — 7 | 2 | .00 17 |
Total | $1,034,759 | $896,214 | 1.24 % |
SMALLCAP World Fund — Page 25 of 30
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 $1,270,218,000, which represented 1.76% 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 $896,214,000, which represented 1.24% of the net assets of the fund. |
6 | Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $97,154,000, which represented 0.13% of the net assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set milestones or condition in accordance with legal documents. |
7 | Amount less than one thousand. |
8 | 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 $69,318,000, which represented .10% of the net assets of the fund. |
9 | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. |
10 | Rate represents the seven-day yield at 6/30/2024. |
11 | Security purchased with cash collateral from securities on loan. |
12 | This security changed its name during the reporting period. |
13 | Affiliated issuer during the reporting period but no longer an affiliate at 6/30/2024. Refer to the investment portfolio for the security value at 6/30/2024. |
14 | Affiliated issuer during the reporting period but no longer held at 6/30/2024. |
15 | Represents net activity. |
16 | Dividend income is included with securities lending income and is not shown in this table. |
17 | 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 26 of 30
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, 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 table on the following page presents the fund’s valuation levels as of June 30, 2024 (dollars in thousands):
SMALLCAP World Fund — Page 27 of 30
unaudited
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Industrials | $8,728,496 | $7,828,571 | $14,901 | $16,571,968 |
Consumer discretionary | 9,174,970 | 3,834,436 | 5,451 | 13,014,857 |
Information technology | 5,250,335 | 6,235,885 | 58,721 | 11,544,941 |
Financials | 4,578,401 | 4,179,682 | 25,785 | 8,783,868 |
Health care | 5,262,748 | 3,187,276 | 2,436 | 8,452,460 |
Materials | 1,100,341 | 1,387,835 | — | 2,488,176 |
Consumer staples | 1,059,010 | 1,173,937 | — | 2,232,947 |
Communication services | 664,161 | 1,245,223 | — | 1,909,384 |
Energy | 1,319,907 | 286,445 | 25,518 | 1,631,870 |
Real estate | 410,122 | 758,224 | — | 1,168,346 |
Utilities | 269,128 | 144,228 | — * | 413,356 |
Preferred securities | 9,600 | — | 626,512 | 636,112 |
Rights & warrants | 17 | 30,946 | 2 | 30,965 |
Convertible stocks | — | — | 46,592 | 46,592 |
Convertible bonds & notes | — | — | 29,451 | 29,451 |
Short-term securities | 4,150,181 | — | — | 4,150,181 |
Total | $41,977,417 | $30,292,688 | $835,369 | $73,105,474 |
*
Amount less than one thousand.
The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the nine months ended
June 30, 2024 (dollars in thousands):
June 30, 2024 (dollars in thousands):
Beginning value at 10/1/2023 | Transfers into Level 3* | Purchases | Sales | Net realized gain (loss) | Unrealized appreciation (depreciation) | Transfers out of Level 3* | Ending value at 6/30/2024 | |
Investment securities | $788,048 | $— | $84,685 | $(25,000 ) | $(9,000 ) | $(3,364 ) | $— | $835,369 |
Net unrealized depreciation during the period on Level 3 investment securities held at June 30, 2024 | $(12,321 ) |
*
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 28 of 30
unaudited
Unobservable inputs — Valuation of the fund’s Level 3 securities is based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The following table provides additional information used by the fund’s investment adviser to fair value the fund’s Level 3 securities (dollars in thousands):
Value at 6/30/2024 | Valuation techniques | Unobservable inputs | Range (if applicable) | Weighted average* | Impact to valuation from an increase in input† | |
Common stocks | $132,812 | Market compa- rables | EV/Gross Profit multiple | 17.3x | 17.3x | Increase |
EV/Sales multiple | 2.1x - 9.8x | 5.2x | Increase | |||
Net adjustment (decrease) based on movement of market comparables | 35% - 77% | 49% | Decrease | |||
Net adjustment (increase) based on movement of market compa- rables | 15% | 15% | Increase | |||
DLOM | 14% - 40% | 31% | Decrease | |||
Risk discount | 10% | 10% | Decrease | |||
Market approach | Transaction price | Not applicable | Not applicable | Not applicable | ||
Discount to last trade price | 20% | 20% | Decrease | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Discount for uncertainty | 5% | 5% | Decrease | |||
Estimated recovery value | De minimis | Not applicable | Not applicable | Not applicable | ||
Preferred securities | 626,512 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
Discount to transaction price | 10% - 35% | 15% | Decrease | |||
Discount for uncertainty | 10% | 10% | Decrease | |||
Discounted cash flow | WACC | 9% - 20% | 13% | Decrease | ||
Risk discount | 10% - 95% | 53% | Decrease | |||
Market compa- rables | EV/Sales multiple | 2.1x - 20.6x | 6.8x | Increase | ||
EV/Gross Profit multiple | 13.6x - 17.3x | 15.3x | Increase | |||
Price/Sales multiple | 8.0x | 8.0x | Increase | |||
Net adjustment (decrease) based on movement of market comparables | 1% - 77% | 40% | Decrease | |||
Net adjustment (increase) based on movement of market compa- rables | 15% - 41% | 28% | Increase | |||
Discount to Price/Sales multiple | 15% | 15% | Decrease | |||
DLOM | 20% - 40% | 27% | 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 | 2 | Black-Scholes | Underlying share price | Not applicable | Not applicable | Not applicable |
Implied volatility | 30% | 30% | Increase | |||
Transaction | De minimis | Not applicable | Not applicable | Not applicable | ||
Convertible stocks | 46,592 | Market compa- rables | EV/Sales multiple | 5.7x | 5.7x | Increase |
DLOM | 9% | 9% | Decrease | |||
Transaction | Transaction price | Not applicable | Not applicable | Not applicable | ||
Discount for uncertainty | 5% | 5% | Decrease | |||
Discounted cash flow | WACC | 20% | 20% | Decrease | ||
Inputs to discounted cash flow and transaction price | Weight ascribed to discounted cash flow | 50% | 50% | Not applicable | ||
Weight ascribed to transaction | 50% | 50% | Not applicable | |||
Convertible bonds & notes | 29,451 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
Indicative market quotation | Broker quote | Not applicable | Not applicable | Not applicable | ||
$835,369 |
SMALLCAP World Fund — Page 29 of 30
unaudited
*
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 abbreviation(s) | |
ADR = American Depositary Receipts | |
CAD = Canadian dollars | |
CDI = CREST Depository Interest | |
DLOM = Discount for lack of marketability | |
EV = Enterprise value | |
GDR = Global Depositary Receipts | |
NOK = Norwegian kroner | |
PIK = Payment In Kind | |
REIT = Real Estate Investment Trust | |
SEK = Swedish kronor | |
USD = U.S. dollars | |
WACC =Weighted average cost of capital |
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2024 Capital Group. All rights reserved.
MFGEFP3-035-0824
SMALLCAP World Fund — Page 30 of 30