# EDGAR Filing Document

**Accession Number:** 0000050142
**File Stem:** 0000051931-23-000336
**Filing Date:** 2023-3
**Character Count:** 2121697
**Document Hash:** 074da547958873a28779051991655f73
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000051931-23-000336.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0000051931-23-000336

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**EFFECTIVENESS DATE**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TAX EXEMPT BOND FUND OF AMERICA
- **CENTRAL INDEX KEY:** 0000050142
- **IRS NUMBER:** 953401318
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02421
- **FILM NUMBER:** 23786015

**BUSINESS ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL (MICG)
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071
- **BUSINESS PHONE:** 213-486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 S HOPE ST - 55TH FL (MICG)
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAX EXEMPT BOND FUND OF AMERICA INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INDEX FUND OF AMERICA INC
- **DATE OF NAME CHANGE:** 19790819

## Series and Classes Contracts Data

### TAX EXEMPT BOND FUND OF AMERICA (Series ID: S000009238)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000025165 | Class A      | AFTEX           |
| C000025167 | Class C      | TEBCX           |
| C000025168 | Class F-1    | AFTFX           |
| C000068567 | Class F-2    | TEAFX           |
| C000114839 | Class R-6    |  |
| C000179997 | Class F-3    | TFEBX           |
| C000189434 | Class T      | TLLLX           |

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

Certified Shareholder Report of

Registered Management Investment Companies

Investment Company Act File Number: 811-02421

**The Tax-Exempt Bond Fund of America**

(Exact Name of Registrant as Specified in Charter)

333 South Hope Street, 55th Floor

Los Angeles, California 90071

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (949) 975-5000

Date of fiscal year end: July 31

Date of reporting period: January 31, 2023

***Brian C. Janssen***

***The Tax-Exempt Bond Fund of America***

*6455 Irvine Center Drive*

*Irvine, California 92620*

*(Name and Address of Agent for Service)*

ITEM 1 – Reports to Stockholders

---

| | |
|:---|:---|
| **American Funds Short-Term Tax-Exempt Bond Fund<sup>®</sup> <br> Limited Term Tax-Exempt Bond Fund of America<sup>®</sup> The Tax-Exempt Bond Fund of America<sup>®</sup> <br> American High-Income Municipal Bond Fund<sup>®</sup> <br> The Tax-Exempt Fund of California<sup>®</sup> <br> American Funds Tax-Exempt Fund of New York<sup>®</sup>**<br>Semi-annual reports for the six months ended January 31, 2023 | ![](image_001.jpg) |

---

![](image_002.jpg)

**Invest in<br> municipal bonds<br> for tax-advantaged<br> income**

These six municipal bond funds are offered by Capital Group, home of American Funds, one of the nation's largest mutual fund families. For over 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.

**Fund results shown in this report, unless otherwise indicated, are for Class F-2 shares. Class A share results are shown at net asset value unless otherwise indicated. If a sales charge had been deducted from Class A shares (maximum 2.50% for American Funds Short-Term Tax-Exempt Bond Fund and Limited Term Tax-Exempt Bond Fund of America; 3.75% for The Tax-Exempt Bond Fund of America, American High-Income Municipal Bond Fund, The Tax-Exempt Fund of California and American Funds Tax-Exempt Fund of New York), the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com.**

Here are the total returns on a $1,000 investment with all distributions reinvested for periods ended December 31, 2022 (the most recent calendar quarter-end), and the total annual fund operating expense ratios as of the prospectus dated October 1, 2022:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Average annual** | **Average annual** | **Average annual** | **Gross** | **Net** |
|  | **Cumulative**<br>**total returns** | **total returns** | **total returns** | **total returns** | **expense** | **expense** |
|  | **1 year** | **5 years** | **5 years** | **10 years** | **ratios\*** | **ratios\*** |
| **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** |  |  |  |
| Class F-2 shares | –2.86% |  | 0.83% | 0.76% | 0.33% | 0.32% |
| Class A shares | –5.37 |  | 0.22 | 0.44 | 0.44 | 0.43 |
| **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** |  |  |  |  |
| Class F-2 shares | –4.60 |  | 1.16 | 1.38 | 0.33 | 0.33 |
| Class A shares | –7.20 |  | 0.43 | 0.92 | 0.56 | 0.56 |
| **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** |  |  |  |  |  |
| Class F-2 shares | –9.00 |  | 1.12 | 2.17 | 0.32 | 0.32 |
| Class A shares | –12.58 |  | 0.18 | 1.63 | 0.50 | 0.50 |
| **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** |  |  |  |  |  |
| Class F-2 shares | –11.64 |  | 1.66 | 3.33 | 0.39 | 0.39 |
| Class A shares | –15.17 |  | 0.66 | 2.73 | 0.63 | 0.63 |
| **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** |  |  |  |  |  |
| Class F-2 shares | –9.09 |  | 1.05 | 2.29 | 0.36 | 0.36 |
| Class A shares | –12.64 |  | 0.12 | 1.76 | 0.54 | 0.54 |
| **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** |  |  |  |  |
| Class F-2 shares | –10.41 |  | 0.70 | 1.71 | 0.44 | 0.40 |
| Class A shares | –13.94 |  | –0.23 | 1.19 | 0.62 | 0.58 |

---

\* Expense ratios are restated to reflect current fees for all funds except The Tax-Exempt Bond Fund of America.

For other share class results, visit capitalgroup.com. A summary of each fund's 30-day yield can be found on page 2.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers and/or expense reimbursements, without which they would have been lower. The investment adviser is currently reimbursing a portion of other expenses for American Funds Short-Term Tax-Exempt Bond Fund and American Funds Tax-Exempt Fund of New York. Investment results and the net expense ratios reflect the reimbursements, without which the results would have been lower and the expense ratios would have been higher. This reimbursement will be in effect through at least October 1, 2023, unless modified or terminated by the fund's board. The adviser may elect at its discretion to extend, modify or terminate the reimbursement at that time. Visit capitalgroup.com for more information.

**Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.**

Contents

---

| | |
|:---|:---|
| 2 | Funds' 30-day yields |
| 3 | Results at a glance |
|  | **Investment portfolios** |
| 4 | American Funds Short-Term Tax-Exempt Bond Fund |
| 38 | Limited Term Tax-Exempt Bond Fund of America |
| 93 | The Tax-Exempt Bond Fund of America |
| 216 | American High-Income Municipal Bond Fund |
| 301 | The Tax-Exempt Fund of California |
| 337 | American Funds Tax-Exempt Fund of New York |
| 344 | Financial statements |

---

Fellow investors:

Shown in the tables on the following pages are the 30-day yields and 12-month distribution rates as well as the six-month returns for the period ended January 31, 2023, for Class F-2 and Class A shares of American Funds tax-exempt municipal bond funds. Also shown are the returns of the funds' primary benchmarks and peer groups. For additional information about the funds, their investment results, holdings and portfolio managers, visit capitalgroup.com/individual/products/mutual-funds.html.

These six funds are offered by Capital Group, home of American Funds, one of the nation's largest mutual fund families. For over 90 years, Capital Group has invested with a long-term focus based on thorough research and attention to risk.

**American Funds Short-Term Tax-Exempt Bond Fund** seeks to provide current income exempt from regular federal income tax, consistent with the maturity and quality standards described in the prospectus, and to preserve capital.

**Limited Term Tax-Exempt Bond Fund of America** seeks to provide current income exempt from regular federal income tax, consistent with the maturity and quality standards described in the prospectus, and to preserve capital.

**The Tax-Exempt Bond Fund of America** seeks to provide a high level of current income exempt from federal income tax, consistent with the preservation of capital.

**American High-Income Municipal Bond Fund** seeks to provide a high level of current income exempt from regular federal income tax.

**The Tax-Exempt Fund of California** seeks to provide a high level of current income exempt from regular federal and California state income taxes. Its secondary objective is preservation of capital.

**American Funds Tax-Exempt Fund of New York** seeks to provide a high level of current income exempt from regular federal, New York state and New York City income taxes. Its secondary objective is preservation of capital.

American Funds Tax-Exempt Funds 1

**Funds' 30-day yields**

*Below is a summary of each fund's 30-day yield and 12-month distribution rate for Class F-2 and Class A shares as of January 31, 2023. For Class A shares both measures reflect the maximum sales charge (2.50% for American Funds Short-Term Tax-Exempt Bond Fund and Limited Term Tax-Exempt Bond Fund of America; 3.75% for The Tax-Exempt Bond Fund of America, American High-Income Municipal Bond Fund, The Tax-Exempt Fund of California and American Funds Tax-Exempt Fund of New York). Each fund's 30-day yield is calculated in accordance with the U.S. Securities and Exchange Commission (SEC) formula.* The SEC yield reflects the rate at which each fund is earning income on its current portfolio of securities while the distribution rate reflects the funds' past dividends paid to shareholders. Accordingly, the funds' SEC yields and distribution rates may differ.

---

| | | | |
|:---|:---|:---|:---|
| | **SEC<br> 30-day yield** | **SEC<br> 30-day yield** | **12-month<br> distribution rate** |
| **American Funds Short-Term Tax-Exempt Bond Fund** |  |  |  |
| Class F-2 shares | 2.30 | %\* | 1.29% |
| Class A shares | 2.11 | \* | 1.15 |
| **Limited Term Tax-Exempt Bond Fund of America** |  |  |  |
| Class F-2 shares | 2.34 |  | 1.47 |
| Class A shares | 2.03 |  | 1.20 |
| **The Tax-Exempt Bond Fund of America** |  |  |  |
| Class F-2 shares | 3.18 |  | 2.48 |
| Class A shares | 2.86 |  | 2.22 |
| **American High-Income Municipal Bond Fund** |  |  |  |
| Class F-2 shares | 4.13 |  | 3.55 |
| Class A shares | 3.73 |  | 3.18 |
| **The Tax-Exempt Fund of California** |  |  |  |
| Class F-2 shares | 3.13 |  | 2.56 |
| Class A shares | 2.79 |  | 2.29 |
| **American Funds Tax-Exempt Fund of New York** |  |  |  |
| Class F-2 shares | 3.25 | \* | 2.60 |
| Class A shares | 2.95 | \* | 2.33 |

---

Past results are not predictive of results in future periods.

\* The SEC 30-day yields for Class F-2 and Class A shares of American Funds Short-Term Tax-Exempt Bond Fund were 2.34% and 2.14%, respectively, with the fund's reimbursement. The SEC 30-day yields for Class F-2 and Class A shares of American Funds Tax-Exempt Fund of New York were 3.43% and 3.12%, respectively, with the fund's reimbursement. These reimbursements will be in effect through at least October 1, 2023, unless modified or terminated by the funds' board. The adviser may elect at its discretion to extend, modify or terminate the reimbursements at that time. Visit capitalgroup.com for more information.

The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. Income may be subject to state or local income taxes and/or federal alternative minimum taxes. Also, certain other income (such as distributions from gains on the sale of certain bonds purchased at less than par value, for The Tax-Exempt Bond Fund of America), as well as capital gain distributions, may be taxable. High-yield/lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade/higher rated bonds. The Tax-Exempt Fund of California and American Funds Tax-Exempt Fund of New York are more susceptible to factors adversely affecting issuers of each state's tax-exempt securities than a more widely diversified municipal bond fund. Refer to the funds' prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the funds.

2 American Funds Tax-Exempt Funds

**Results at a glance**

For periods ended January 31, 2023, with distributions reinvested, for Class F-2 and A shares

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Cumulative total returns | Cumulative total returns | Average annual total returns | Average annual total returns | Average annual total returns |
|  | 6 months | 1 year | 5 years | 10 years | Lifetime<br> (from Class A<br> inception) |
| **American Funds Short-Term Tax-Exempt Bond Fund** |  |  |  |  |  |
| Class F-2 shares (since 8/12/09) | 0.77% | –0.40% | 1.08% | 0.87% | 1.19% |
| Class A shares (since 8/7/09) | 0.72 | –0.50 | 0.98 | 0.80 | 1.13 |
| Bloomberg Municipal Short 1–5 Years Index | 0.32 | –0.35 | 1.30 | 1.17 | 1.53 |
| Lipper Short Municipal Debt Funds Average | 0.57 | –0.26 | 0.87 | 0.69 | 0.98 |
| **Limited Term Tax-Exempt Bond Fund of America** |  |  |  |  |  |
| Class F-2 shares (since 8/18/08) | 0.96 | –1.03 | 1.59 | 1.53 | 3.63 |
| Class A shares (since 10/6/93) | 0.84 | –1.26 | 1.36 | 1.32 | 3.43 |
| Bloomberg Municipal Short-Intermediate 1–10 years Index | 0.67 | –0.64 | 1.76 | 1.71 | 3.70 |
| Lipper Short-Intermediate Municipal Debt Funds Average | 0.51 | –1.30 | 1.18 | 1.10 | 2.96 |
| **The Tax-Exempt Bond Fund of America** |  |  |  |  |  |
| Class F-2 shares (since 8/1/08) | 0.64 | –3.90 | 1.92 | 2.41 | 6.02 |
| Class A shares (since 10/3/79) | 0.55 | –4.07 | 1.76 | 2.26 | 5.87 |
| Bloomberg Municipal Bond Index | 0.73 | –3.25 | 2.07 | 2.38 | — \* |
| Lipper General & Insured Municipal Debt Funds Average | 0.03 | –5.38 | 1.53 | 1.99 | 5.72 |
| **American High-Income Municipal Bond Fund** |  |  |  |  |  |
| Class F-2 shares (since 8/12/08) | –0.59 | –5.91 | 2.61 | 3.62 | 5.19 |
| Class A shares (since 9/26/94) | –0.71 | –6.14 | 2.38 | 3.41 | 4.99 |
| Bloomberg Municipal Bond Index | 0.73 | –3.25 | 2.07 | 2.38 | 4.73 |
| Bloomberg High Yield Municipal Bond Index | –0.84 | –6.63 | 3.73 | 3.82 | — \* |
| Lipper High Yield Municipal Debt Funds Average | –1.20 | –7.71 | 1.80 | 2.79 | 4.53 |
| **The Tax-Exempt Fund of California** |  |  |  |  |  |
| Class F-2 shares (since 8/22/08) | 0.98 | –4.00 | 1.86 | 2.52 | 5.10 |
| Class A shares (since 10/28/86) | 0.89 | –4.18 | 1.69 | 2.37 | 4.96 |
| Bloomberg California Municipal Index | 0.90 | –2.80 | 2.03 | 2.52 | — \* |
| Lipper California Municipal Debt Funds Average | 0.27 | –5.44 | 1.50 | 2.28 | 4.96 |
| **American Funds Tax-Exempt Fund of New York** |  |  |  |  |  |
| Class F-2 shares (since 11/1/10) | 0.33 | –4.81 | 1.56 | 1.98 | 2.91 |
| Class A shares (since 11/1/10) | 0.24 | –4.98 | 1.38 | 1.84 | 2.78 |
| Bloomberg New York Municipal Index | 1.04 | –3.22 | 1.87 | 2.29 | 2.87 |
| Lipper New York Municipal Debt Funds Average | 0.22 | –5.68 | 1.46 | 1.88 | 2.53 |

---

\* This index did not exist at the fund's inception.

Past results are not predictive of results in future periods.

Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Visit capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.

Bloomberg Municipal Short 1–5 Years Index is a market value-weighted index that includes investment-grade tax-exempt bonds with maturities of one to five years. Bloomberg Short-Intermediate 1–10 Years Index is a market value-weighted index that includes investment-grade tax-exempt bonds with maturities of one to 10 years. Bloomberg Municipal Bond Index is a market value-weighted index designed to represent the long-term investment-grade tax-exempt bond market. Bloomberg High Yield Municipal Bond Index is a market value-weighted index composed of municipal bonds rated below BBB/Baa. Bloomberg California Municipal Index is a market value-weighted index that includes only investment-grade (rated BBB/Baa and above) tax-exempt bonds of issuers within the state of California. Bloomberg New York Municipal Index is a market value-weighted index that includes only investment-grade (rated BBB/Baa and above) tax-exempt bonds of issuers within the state of New York.

The market indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. Bloomberg source: Bloomberg Index Services Ltd. Lipper averages reflect the current composition of all eligible mutual funds (all share classes) within a given category. Lipper source: Refinitiv Lipper. Lipper categories are dynamic and averages may have few funds, especially over longer periods. Refer to the Quarterly Statistical Update, available at capitalgroup.com, for the number of funds included in the Lipper category for each fund's lifetime.

American Funds Tax-Exempt Funds 3

---

| | |
|:---|:---|
| American Funds Short-Term Tax-Exempt Bond Fund | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_003.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 84.72%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alabama 3.20%** |  |  |  |
| City of Alabaster, Board of Education, Special Tax School Warrants, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 9/1/2028 (preref. 9/1/2024) | USD | 500 | $519 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 5.25% 2/1/2053 (put 6/1/2029) |  | 9995 | 10725 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 4/1/2053 (put 10/1/2027) |  | 6000 | 6002 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 10/1/2052 (put 12/1/2026) |  | 4500 | 4509 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026) |  | 1840 | 1844 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 4), Series 2019-A, 4.00% 12/1/2049 (put 12/1/2025) |  | 12965 | 13012 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1, 4.00% 10/1/2049 (put 10/1/2026) |  | 2875 | 2884 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027) |  | 10080 | 10268 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-F, 5.50% 11/1/2053 (put 12/1/2028) |  | 440 | 473 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2017-A, 5.00% 9/1/2029 (preref. 9/1/2027) |  | 1000 | 1123 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2016-A, 5.00% 9/1/2033 (preref. 9/1/2026) |  | 1500 | 1648 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2017-A, 5.00% 9/1/2035 (preref. 9/1/2027) |  | 2410 | 2706 |
| Federal Aid Highway Fin. Auth., Special Obligation Rev. Bonds, Series 2016-A, 5.00% 9/1/2036 (preref. 9/1/2026) |  | 4500 | 4943 |
| City of Hoover, G.O. Warrants, Series 2016, 4.00% 7/1/2033 (preref. 7/1/2026) |  | 1000 | 1061 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Capstone at Kinsey Cove Project), Series 2020-A, 0.35% 12/1/2023 (put 2/15/2023) |  | 1790 | 1788 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (ECG Monrovia Project), Series 2022-A, 2.00% 10/1/2025 (put 10/1/2024) |  | 2050 | 2020 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Peppertree Place Project), Series 2022-C, 3.25% 11/1/2025 (put 11/1/2024) |  | 1575 | 1582 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2023 |  | 1500 | 1523 |
| South East Gas Supply Dist., Gas Supply Rev. Bonds (Project No. 2), Series 2018-A, 4.00% 6/1/2049 (put 6/1/2024) |  | 490 | 491 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put 12/1/2031) |  | 450 | 449 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 4), Series 2022-B-1, 5.00% 5/1/2053 (put 8/1/2028) |  | 8370 | 8775 |
|  |  |  | **78345** |
| **Alaska 0.73%** |  |  |  |
| City of Anchorage, Electric Rev. Ref. Bonds, Series 2014-A, 5.00% 12/1/2041 (preref. 12/1/2024) |  | 1000 | 1044 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020-A, 3.25% 12/1/2044 |  | 3505 | 3482 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 3.50% 6/1/2046 |  | 305 | 305 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2022-C, 5.75% 12/1/2052 |  | 1280 | 1413 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2026 |  | 550 | 595 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2026 |  | 725 | 792 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2027 |  | 590 | 652 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2027 |  | 600 | 670 |

---

<br> 4 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alaska (continued)** |  |  |  |
| Housing Fin. Corp., State Capital Project Bonds, Series 2014-A, 5.00% 12/1/2032 (preref. 12/1/2023) | USD | 1120 | $1144 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2014-A, 5.00% 12/1/2033 (preref. 12/1/2023) |  | 540 | 551 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2026 |  | 1500 | 1606 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2027 |  | 4060 | 4408 |
| International Airport System, Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 10/1/2029 |  | 1100 | 1229 |
|  |  |  | **17891** |
| **Arizona 0.83%** |  |  |  |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2026 |  | 300 | 328 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 0.40% 7/1/2023 |  | 250 | 247 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 0.75% 7/1/2025 |  | 650 | 613 |
| Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-A, AMT, 1.875% 9/1/2032 (put 3/31/2023) |  | 700 | 699 |
| Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-B, 1.65% 3/1/2039 (put 3/31/2023) |  | 500 | 499 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 4.00% 7/1/2023 |  | 130 | 131 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 7/1/2025 |  | 145 | 151 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2021-A, 5.00% 2/1/2026 |  | 1200 | 1292 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 2/1/2023 |  | 1450 | 1450 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 5/1/2023 |  | 1125 | 1132 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 8/1/2023 |  | 1875 | 1897 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 8/1/2024 |  | 1445 | 1496 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2024 |  | 825 | 859 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 8/1/2025 |  | 1675 | 1786 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2025 |  | 1500 | 1610 |
| Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B, 4.50% 7/1/2024 (preref. 7/1/2023)<sup>1</sup> |  | 250 | 252 |
| Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B, 4.50% 7/1/2025 (preref. 7/1/2023)<sup>1</sup> |  | 200 | 202 |
| County of Maricopa, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2001, AMT, 3.375% 12/1/2031 (put 6/3/2024) |  | 900 | 892 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2025 |  | 2025 | 2122 |
| City of Phoenix Civic Improvement Corp., Water System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2024 |  | 155 | 161 |
| City of Phoenix Civic Improvement Corp., Water System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2026 |  | 830 | 862 |
| County of Pima, Sewer System Rev. and Rev. Ref. Obligations, Series 2022, 5.00% 7/1/2027 |  | 1115 | 1247 |
| County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.30% 6/1/2027 |  | 450 | 399 |
|  |  |  | **20327** |
| **California 9.32%** |  |  |  |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2013-S-4, 5.00% 4/1/2043 (preref. 4/1/2023) |  | 2005 | 2014 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2006-C-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 1155 | 1156 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-A-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 1250 | 1251 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2018-A, 2.625% 4/1/2045 (put 4/1/2026) |  | 2000 | 1985 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2007-C-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2047 (put 5/1/2023)<sup>2</sup> |  | 500 | 500 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2017-G, 2.00% 4/1/2053 (put 4/1/2024) |  | 5200 | 5120 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-D, (SIFMA Municipal Swap Index + 0.30%) 1.96% 4/1/2056 (put 4/1/2027)<sup>2</sup> |  | 1200 | 1167 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-C, (SIFMA Municipal Swap Index + 0.45%) 2.11% 4/1/2056 (put 4/1/2026)<sup>2</sup> |  | 730 | 720 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Ref. Bonds, Series 2014-S-6, 5.00% 10/1/2054 (preref. 10/1/2024) |  | 1540 | 1609 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2017-A, 5.00% 11/1/2026 |  | 3815 | 4225 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-A, 5.00% 11/1/2027 |  | 3620 | 3961 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 11/1/2049 (put 11/1/2026) |  | 945 | 844 |

---

<br> American Funds Tax-Exempt Funds 5

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-3, 4.00% 11/1/2051 (put 11/1/2023) | USD | 1550 | $1555 |
| Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 8/1/2023 |  | 205 | 204 |
| Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 8/1/2024 |  | 195 | 194 |
| Coachella Valley Water Dist., Drinking Water System Rev. Notes, Series 2022-A, 1.375% 6/1/2025 |  | 3000 | 2903 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put 8/1/2031) |  | 510 | 517 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 (put 8/1/2029) |  | 14100 | 15103 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 5.00% 12/1/2053 (put 8/1/2029) |  | 3795 | 4054 |
| Educational Facs. Auth., Rev. Bonds (University of Southern California), Series 2009-C, 5.25% 10/1/2024 (escrowed to maturity) |  | 165 | 173 |
| County of El Dorado, Community Facs. Dist. No. 1992-1 (El Dorado Hills Dev.), Special Tax Rev. Ref. Bonds, Series 2012, 5.00% 9/1/2025 |  | 1560 | 1563 |
| City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2023 |  | 160 | 161 |
| Fresno Unified School Dist., G.O. Bonds, 2010 Election, Series 2013-C, 5.50% 8/1/2046 |  | 5000 | 5071 |
| Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2021-D, 2.00% 8/1/2024 |  | 135 | 135 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 9/1/2023 |  | 2540 | 2580 |
| G.O. Rev. Ref. Bonds, Series 2022, 5.00% 9/1/2024 |  | 5000 | 5215 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 9/1/2027 |  | 4505 | 5090 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 12/1/2027 |  | 1285 | 1461 |
| G.O. Rev. Ref. Bonds, Series 2019, 5.00% 4/1/2029 |  | 120 | 141 |
| G.O. Rev. Ref. Bonds, Series 2022, 4.00% 9/1/2029 |  | 2250 | 2508 |
| G.O. Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2031 |  | 1305 | 1382 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2017-A-1, 5.00% 6/1/2028 (preref. 6/1/2027) |  | 1570 | 1761 |
| Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2019-B, 5.00% 10/1/2039 (put 10/1/2027) |  | 1000 | 1104 |
| Health Facs. Fncg. Auth., Rev. Bonds (Stanford Health Care), Series 2021-A, 3.00% 8/15/2054 (put 8/15/2025) |  | 5285 | 5328 |
| Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2016-A, 5.00% 11/15/2041 (preref. 11/15/2025) |  | 1385 | 1493 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children's Hospital at Stanford), Series 2022-A, 5.00% 5/15/2024 |  | 405 | 417 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children's Hospital at Stanford), Series 2022-A, 5.00% 5/15/2025 |  | 690 | 730 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035 |  | 2919 | 2831 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Brightline West Passenger Rail Project), Series 2020-A, AMT, 3.65% 1/1/2050 (put 1/31/2024) |  | 4600 | 4600 |
| Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project), Series 2021-B, 2.36% 12/1/2050 (put 6/1/2026)<sup>2</sup> |  | 945 | 912 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2024 |  | 1250 | 1298 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2029 |  | 1600 | 1677 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2026 |  | 3500 | 3738 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2027 |  | 1230 | 1338 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2028 |  | 1250 | 1383 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2028 |  | 1350 | 1493 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2020-C, AMT, 5.00% 5/15/2026 |  | 3605 | 3861 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2015-D, AMT, 5.00% 5/15/2027 |  | 1005 | 1055 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2027 |  | 2000 | 2176 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-A, AMT, 5.00% 5/15/2027 |  | 2475 | 2693 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-F, AMT, 5.00% 5/15/2028 |  | 3615 | 3998 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2018-B, AMT, 5.00% 5/15/2027 |  | 1000 | 1092 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2020-A, 5.00% 7/1/2026 |  | 1550 | 1703 |

---

<br> 6 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Los Angeles, Wastewater System Rev. Ref. Bonds, Series 2022-C, 5.00% 6/1/2026 | USD | 500 | $549 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Mortgage Rev. Bonds (Long Beach Senior Housing), Series 2022, 2.00% 2/1/2026 (put 2/1/2025) |  | 1240 | 1198 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Cantamar Villas), Series 2021-D-1, 0.30% 2/1/2025 (put 2/1/2024) |  | 2070 | 1997 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Bonds, Series 2016-A, 5.00% 6/1/2023 |  | 515 | 520 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 5.00% 6/1/2024 |  | 120 | 124 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 5.00% 6/1/2027 |  | 1000 | 1125 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 7/1/2025 |  | 2100 | 2242 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 7/1/2026 |  | 1295 | 1423 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Green Bonds, Series 2022-QRR, 5.00% 7/1/2026 |  | 5405 | 5938 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2023 |  | 1500 | 1517 |
| Municipal Fin. Auth., Multi Family Housing Rev. Bonds (Walnut Apartments), Series 2021-A, 0.45% 12/1/2024 (put 12/1/2023) |  | 940 | 913 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, 4.125% 10/1/2041 (put 10/1/2025) |  | 3350 | 3377 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019-A, AMT, 2.40% 10/1/2044 (put 10/1/2029) |  | 2850 | 2606 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.70% 12/1/2044 (put 12/1/2023) |  | 3910 | 3825 |
| New Haven Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2008-C, Assured Guaranty insured, 0% 8/1/2029 |  | 7650 | 6388 |
| Northern California Energy Auth., Commodity Supply Rev. Bonds, Series 2018, 4.00% 7/1/2049 (put 7/1/2024) |  | 6000 | 6036 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2025 |  | 4640 | 4844 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2028 |  | 2770 | 3053 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2029 |  | 115 | 129 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2023 |  | 155 | 156 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2016-C, 4.00% 11/1/2031 |  | 2000 | 2108 |
| Public Works Board, Lease Rev. Ref. Bonds (Dept. of State Hospitals), Series 2016-E, 5.00% 6/1/2025 |  | 1250 | 1262 |
| City of Sacramento, Community Facs. Dist. No. 4 (North Natomas), Special Tax Rev. Ref. Bonds, Series 2013-E, 5.25% 9/1/2025 |  | 1565 | 1588 |
| City of Sacramento, Municipal Utility Dist., Electric Rev. Bonds, Series 2019-A, 5.00% 8/15/2049 (put 7/13/2023) |  | 4000 | 4018 |
| Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 7/1/2024 |  | 1300 | 1346 |
| Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 7/1/2027 |  | 685 | 763 |
| City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 3.00% 9/1/2023 |  | 850 | 852 |
| City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 3.00% 9/1/2024 |  | 115 | 116 |
| County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-C, AMT, 5.00% 7/1/2024 |  | 1000 | 1027 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2022-A, AMT, 5.00% 5/1/2025 |  | 5990 | 6267 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2018-G, AMT, 5.00% 5/1/2027 |  | 780 | 842 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Special Facs. Lease Rev. Bonds (SFO Fuel Co., LLC), Series 2019-A, AMT, 5.00% 1/1/2026 |  | 1500 | 1589 |
| City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-2, 5.00% 6/15/2023 |  | 1305 | 1318 |
| City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-2, 5.00% 6/15/2024 |  | 2785 | 2892 |
| Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 9/1/2029 |  | 1150 | 1188 |
| Southern California Public Power Auth., Rev. Ref. Bonds (Magnolia Power Project A), Series 2020-1, 5.00% 7/1/2023 |  | 1800 | 1820 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2023 |  | 300 | 303 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2024 |  | 240 | 249 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2025 |  | 115 | 123 |

---

<br> American Funds Tax-Exempt Funds 7

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Southern California Public Power Auth., Transmission Project Rev. Bonds (Southern Transmission Project), Series 2017-A, 5.00% 7/1/2023 | USD | 1180 | $1193 |
| Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Villa Del Sol Apartments), Series 2021-A-2, 0.39% 10/1/2023 (put 4/1/2023) |  | 765 | 761 |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2006-D, 2.625% 11/1/2033 (put 12/1/2023) |  | 330 | 327 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Enloe Medical Center), Series 2015, 5.00% 8/15/2028 (preref. 2/15/2026) |  | 250 | 272 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2030 |  | 2750 | 2865 |
| City of Tustin, Community Facs. Dist. No. 2014-1 (Tustin Legacy / Standard Pacific), Special Tax Bonds, Series 2015-A, 5.00% 9/1/2027 |  | 200 | 210 |
| Regents of the University of California, General Rev. Bonds, Series 2023-BM, 5.00% 5/15/2028 |  | 5735 | 6584 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 5/15/2026 |  | 470 | 515 |
| Val Verde Unified School Dist., G.O. Bonds, 2012 Election, Series 2013-A, BAM insured, 5.00% 8/1/2042 (preref. 8/1/2023) |  | 1500 | 1520 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2016-B, 3.50% 12/1/2045 |  | 450 | 450 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2022-A, 5.50% 12/1/2052 |  | 1665 | 1822 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2019-CS, 4.00% 12/1/2049 |  | 1965 | 1990 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2020-CT, 3.00% 12/1/2050 |  | 4420 | 4375 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2022-CU, 5.50% 12/1/2052 |  | 375 | 410 |
| Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2015-CM, AMT, 2.45% 12/1/2031 |  | 75 | 75 |
| Walnut Valley Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2007 Election, Series 2011-B, BAM insured, 0% 8/1/2031 |  | 1030 | 769 |
| Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2016-AW, 5.00% 12/1/2033 (preref. 12/1/2026) |  | 230 | 254 |
| Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2017-AX, 5.00% 12/1/2033 (preref. 12/1/2027) |  | 245 | 278 |
| William S. Hart Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2001 Election, Series 2005-B, Assured Guaranty Municipal insured, 0% 9/1/2025 |  | 5000 | 4688 |
|  |  |  | **228232** |
| **Colorado 1.66%** |  |  |  |
| Certs. of Part., Series 2021-A, 5.00% 12/15/2025 |  | 1000 | 1078 |
| Board of Governors of the Colorado State University System, System Enterprise Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 3/1/2041 (preref. 3/1/2027) |  | 30 | 33 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2027 |  | 4305 | 4719 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2028 |  | 2500 | 2786 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-B, 5.00% 11/15/2028 |  | 125 | 144 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2027 |  | 1500 | 1636 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2029 |  | 2000 | 2263 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 9/1/2039 (put 9/1/2024)<sup>2</sup> |  | 645 | 642 |
| Health Facs. Auth., Hospital Rev. Bonds (Sanford), Series 2019-A, 5.00% 11/1/2028 |  | 1000 | 1127 |
| Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 5.00% 5/15/2029 |  | 2000 | 2318 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-C, Class I, 4.00% 5/1/2048 |  | 735 | 741 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-B-1, Class I, 4.00% 11/1/2048 |  | 650 | 656 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-C, Class I, 4.25% 11/1/2048 |  | 505 | 513 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-C, Class I, 4.25% 5/1/2049 |  | 3660 | 3720 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-E, Class I, 4.25% 5/1/2049 |  | 1055 | 1074 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-E, Class I, 3.00% 11/1/2051 |  | 2410 | 2375 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051 |  | 2020 | 2006 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-B, Class I, 3.25% 5/1/2052 |  | 5870 | 5829 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-E, Class I, 5.25% 11/1/2052 |  | 5520 | 5911 |
| Regents of the University of Colorado, University Enterprise Rev. and Rev. Ref. Bonds, Series 2019-C, 2.00% 6/1/2054 (put 10/15/2024) |  | 1000 | 985 |
|  |  |  | **40556** |

---

<br> 8 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Connecticut 1.66%** |  |  |  |
| Town of East Hartford, Housing Auth., Multi Family Housing Rev. Bonds (Summerfield Townhouses Project), Series 2022-A, 4.25% 2/1/2027 (put 2/1/2025) | USD | 3000 | $3042 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2028 |  | 925 | 1021 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 5.00% 7/1/2025 |  | 160 | 167 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2003-X-2, 0.25% 7/1/2037 (put 2/9/2024) |  | 265 | 257 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-C-1, 5.00% 7/1/2040 (put 2/1/2028) |  | 2755 | 3130 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 1.10% 7/1/2048 (put 2/7/2023) |  | 6645 | 6643 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 2.80% 7/1/2048 (put 2/10/2026) |  | 5000 | 4995 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2010-A-3, 0.25% 7/1/2049 (put 2/9/2024) |  | 2280 | 2208 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2027 |  | 750 | 811 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2028 |  | 545 | 596 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2029 |  | 560 | 619 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2030 |  | 440 | 491 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-2, AMT, 4.00% 11/15/2041 |  | 1430 | 1431 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-E-1, 4.25% 5/15/2042 |  | 990 | 1005 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-F-1, 3.50% 11/15/2043 |  | 735 | 735 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 11/15/2044 |  | 105 | 105 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-A-1, 4.00% 11/15/2045 |  | 200 | 201 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-E-1, 3.50% 11/15/2046 |  | 320 | 320 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-A-1, 4.00% 11/15/2047 |  | 2140 | 2157 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 4.00% 11/15/2047 |  | 1060 | 1068 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-D-1, 4.00% 11/15/2047 |  | 1340 | 1351 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2021-B-1, 3.00% 11/15/2049 |  | 1615 | 1591 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-C-4, (SIFMA Municipal Swap Index + 0.625%) 2.285% 5/15/2051 (put 11/15/2024)<sup>2</sup> |  | 3905 | 3896 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051 |  | 785 | 787 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-A, 3.50% 11/15/2044 |  | 420 | 420 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 11/15/2045 |  | 465 | 464 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2022-A, 5.00% 7/1/2028 |  | 1000 | 1144 |
|  |  |  | **40655** |
| **Delaware 0.05%** |  |  |  |
| G.O. Bonds, Series 2014-B, 4.00% 7/1/2024 |  | 1000 | 1024 |
| G.O. Bonds, Series 2021, 5.00% 2/1/2031 |  | 130 | 158 |
|  |  |  | **1182** |
| **District of Columbia 1.31%** |  |  |  |
| G.O. Bonds, Series 2015-A, 5.00% 6/1/2032 |  | 2930 | 3105 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Kenilworth 166 Apartments Project), Series 2021, 1.25% 6/1/2025 (put 12/1/2024) |  | 7395 | 7116 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Paxton Project), Series 2022, 4.00% 9/1/2040 (put 9/1/2025) |  | 1000 | 1022 |
| Income Tax Secured Rev. Bonds, Series 2022-A, 5.00% 7/1/2033 |  | 575 | 704 |
| Income Tax Secured Rev. Ref. Bonds, Series 2022-C, 5.00% 12/1/2028 |  | 2000 | 2315 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2025 |  | 4000 | 4224 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 10/1/2026 |  | 1000 | 1074 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2026 |  | 1500 | 1611 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2023 |  | 1915 | 1939 |

---

<br> American Funds Tax-Exempt Funds 9

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **District of Columbia (continued)** |  |  |  |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 10/1/2024 | USD | 1000 | $1032 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2025 |  | 1000 | 1056 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2025 |  | 900 | 950 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2026 |  | 2000 | 2149 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 10/1/2027 |  | 1000 | 1094 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2027 |  | 490 | 536 |
| Metropolitan Washington DC Airports Auth., Rev and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2028 |  | 1410 | 1568 |
| Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 4/1/2028 (preref. 4/1/2026) |  | 230 | 250 |
| Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 4/1/2029 (preref. 4/1/2026) |  | 225 | 244 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 2014-C, 5.00% 10/1/2025 |  | 150 | 157 |
|  |  |  | **32146** |
| **Florida 3.61%** |  |  |  |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-B-1, 4.00% 12/1/2023 |  | 450 | 454 |
| Broward County School Board, Certs. of Part., Series 2022-A, 5.00% 7/1/2027 |  | 8000 | 8912 |
| County of Broward, Airport System Rev. Bonds, Series 2015-A, AMT, 5.00% 10/1/2023 |  | 2530 | 2563 |
| County of Broward, Airport System Rev. Bonds, Series 2017, AMT, 5.00% 10/1/2023 |  | 1100 | 1114 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2023 |  | 1750 | 1773 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2024 |  | 1300 | 1343 |
| County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Solaris Apartments), Series 2021-B, 0.70% 1/1/2025 (put 7/1/2024) |  | 1555 | 1487 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 7/1/2024 |  | 885 | 917 |
| City of Daytona Beach, Housing Auth., Multi Family Housing Rev. Bonds (The WM at the River Project), Series 2021-B, 1.25% 12/1/2025 (put 12/1/2024) |  | 1415 | 1357 |
| Board of Education, Lottery Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2027 |  | 3175 | 3462 |
| Board of Education, Public Education Capital Outlay Bonds, Series 2018-B, 5.00% 6/1/2027 |  | 1940 | 2175 |
| Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2019-D, 5.00% 6/1/2023 |  | 160 | 161 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2023 |  | 1500 | 1520 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2024 |  | 2500 | 2587 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2030 (preref. 10/1/2027) |  | 1025 | 1134 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2022-A, AMT, 5.00% 10/1/2027 |  | 6750 | 7384 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2015-A, AMT, 5.00% 10/1/2040 (preref. 10/1/2024) |  | 3310 | 3425 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2017-1, 4.00% 7/1/2048 |  | 925 | 931 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 7/1/2049 |  | 925 | 933 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050 |  | 2635 | 2675 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-2, 3.00% 7/1/2051 |  | 385 | 380 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 7/1/2051 |  | 775 | 776 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-2, 3.00% 7/1/2052 |  | 4825 | 4749 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2022-1, 3.50% 7/1/2052 |  | 890 | 892 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Special Program), Series 2015-A, 3.50% 7/1/2046 |  | 55 | 55 |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (The Canopy at West River Towers 1 & 2), Series 2022-A-2, 3.25% 5/1/2026 (put 5/1/2025) |  | 4155 | 4188 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2023 |  | 630 | 641 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2024 |  | 650 | 678 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2025 |  | 1540 | 1648 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2025 |  | 280 | 300 |
| County of Lee, Airport Rev. Bonds, Series 2021-B, AMT, 5.00% 10/1/2029 |  | 350 | 390 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2025 |  | 210 | 210 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2026 |  | 185 | 185 |

---

<br> 10 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2014-B, BAM insured, 5.00% 7/1/2026 | USD | 1000 | $1031 |
| County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Platform 3750), Series 2021, 0.25% 8/1/2024 (put 8/1/2023) |  | 1580 | 1551 |
| County of Miami-Dade, Seaport Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2030 |  | 2670 | 3003 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2047 |  | 3495 | 3633 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2027 |  | 635 | 704 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2028 |  | 560 | 631 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2031 |  | 1600 | 1872 |
| County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Dunwoodie Place Apartments), Series 2021-A, 0.20% 9/1/2024 (put 9/1/2023) |  | 2160 | 2110 |
| County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Stratford Point Apartments), Series 2021-B, 0.55% 1/1/2025 (put 7/1/2024) |  | 2335 | 2228 |
| County of Palm Beach, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Christian Manor), Series 2022, 1.25% 2/1/2025 (put 2/1/2024) |  | 2480 | 2407 |
| County of Pinellas, Housing Fin. Auth., Multi Family Mortgage Backed Bonds (Jordan Park Apartments), Series 2021-B, 0.65% 1/1/2025 (put 7/1/2024) |  | 1225 | 1170 |
| County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2013, BAM insured, 5.00% 10/1/2043 (preref. 10/1/2023) |  | 1670 | 1699 |
| South Broward Hospital Dist., Hospital Rev. Ref. Bonds (South Broward Hospital Dist. Obligated Group), Series 2016, 4.00% 5/1/2026 |  | 1260 | 1323 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2024 |  | 100 | 103 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2025 |  | 75 | 79 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2026 |  | 100 | 107 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2022-A, 5.00% 7/1/2026 |  | 1641 | 1799 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2016-A, 5.00% 7/1/2027 |  | 315 | 345 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2018-B, 5.00% 7/1/2027 |  | 445 | 500 |
| Dept. of Transportation Fncg. Corp., Rev. Bonds, Series 2020, 5.00% 7/1/2024 |  | 590 | 613 |
|  |  |  | **88307** |
| **Georgia 3.00%** |  |  |  |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2014-B, 5.00% 1/1/2026 |  | 1200 | 1230 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2027 |  | 430 | 481 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 7/1/2028 |  | 665 | 737 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Sylvan Hills Senior Apartments Project), Series 2020, 0.41% 12/1/2025 (put 12/1/2023) |  | 785 | 762 |
| County of Bartow, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Bowen Project), Series 1997-1, 1.80% 9/1/2029 |  | 560 | 506 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2013-A, 1.50% 1/1/2040 (put 2/3/2025) |  | 1175 | 1121 |
| City of Columbus, Dev. Auth., Multi Family Housing Rev. Bonds (Highland Terrance Phase II Project), Series 2021-B, 0.34% 4/1/2025 (put 4/1/2024) |  | 2000 | 1919 |
| County of Dawson, Dev. Auth., Multi Family Housing Rev. Bonds (Peaks of Dawsonville Project), Series 2021, 0.28% 10/1/2023 |  | 3500 | 3445 |
| County of Dekalb, Housing Auth., Multi Family Housing Rev. Bonds (Columbia Village Project), Series 2021-A, 0.34% 8/1/2024 (put 8/1/2023) |  | 2420 | 2377 |
| G.O. Bonds, Series 2019-A, 5.00% 7/1/2023 |  | 4000 | 4042 |
| G.O. Bonds, Series 2020-A, 5.00% 8/1/2023 |  | 790 | 800 |
| G.O. Bonds, Series 2015-A, 5.00% 2/1/2027 |  | 1000 | 1057 |
| G.O. Bonds, Series 2017-A-2, 5.00% 2/1/2032 |  | 2250 | 2495 |
| G.O. Rev. Ref. Bonds, Series 2022-C, 5.00% 7/1/2031 |  | 500 | 611 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2014-A-1, 4.00% 6/1/2044 |  | 145 | 145 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2015-A-1, 3.50% 6/1/2045 |  | 20 | 20 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2016-A-1, 3.50% 12/1/2046 |  | 140 | 140 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-A, 4.00% 12/1/2047 |  | 1265 | 1273 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2026 |  | 3000 | 3129 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-B, (3-month USD-LIBOR x 0.67 + 0.75%) 3.677% 4/1/2048 (put 9/1/2023)<sup>2</sup> |  | 5000 | 5000 |

---

<br> American Funds Tax-Exempt Funds 11

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 4/1/2048 (put 9/1/2023) | USD | 770 | $773 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-D, (3-month USD-LIBOR x 0.67 + 0.83%) 3.757% 8/1/2048 (put 12/1/2023)<sup>2</sup> |  | 9055 | 9069 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 7/1/2052 (put 9/1/2027) |  | 3000 | 3059 |
| Municipal Electric Auth., Combined Cycle Project Rev. Bonds, Series 2020-A, 4.00% 11/1/2025 |  | 800 | 828 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 4.00% 1/1/2027 |  | 270 | 282 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2024 |  | 190 | 194 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2025 |  | 200 | 208 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2026 |  | 280 | 300 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2027 |  | 220 | 241 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, Assured Guaranty Municipal insured, 5.00% 7/1/2029 |  | 500 | 572 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, Assured Guaranty Municipal insured, 5.00% 7/1/2030 |  | 500 | 579 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2023-A, Assured Guaranty Municipal insured, 5.00% 7/1/2031 |  | 500 | 586 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2024 |  | 170 | 173 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2025 |  | 195 | 202 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2026 |  | 200 | 212 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2027 |  | 200 | 215 |
| Municipal Electric Auth., Project One Bonds, Series 2020-A, 5.00% 1/1/2028 |  | 1285 | 1415 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2030 |  | 740 | 842 |
| Northwest Georgia Housing Auth., Multi Family Housing Rev. Bonds (Dallas Manor Apartments Project), Series 2021, 0.25% 10/1/2024 (put 10/1/2023) |  | 325 | 317 |
| Northwest Georgia Housing Auth., Multi Family Housing Rev. Bonds (Spring Grove Apartments Project), Series 2021, 0.25% 10/1/2024 (put 10/1/2023) |  | 2250 | 2196 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2021, 5.00% 4/1/2028 |  | 400 | 443 |
| County of Rockdale, Dev. Auth., Multi Family Housing Rev. Bonds (Arbours at Conyers Project), Series 2022, 3.625% 2/1/2026 (put 2/1/2025) |  | 8105 | 8151 |
| City of Valdosta, Housing Auth., Multi Family Housing Rev. Bonds (TISHCO Rural Rental Housing Portfolio Project), Series 2022, 1.25% 2/1/2025 (put 2/1/2024) |  | 560 | 548 |
| City of Villa Rica, Downtown Dev. Auth., Multi Family Housing Rev. Bonds (Arbours at Villa Rica Project), Series 2022, 1.25% 8/1/2025 (put 8/1/2024) |  | 9955 | 9643 |
| County of Walker, Dev. Auth., Multi Family Housing Rev. Bonds (Gateway at Rossville Project), Series 2021-B, 0.46% 12/1/2024 (put 12/1/2023) |  | 1225 | 1190 |
|  |  |  | **73528** |
| **Hawaii 0.16%** |  |  |  |
| Airports System Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2023 |  | 2000 | 2017 |
| Airports System Rev. Bonds, Series 2018-A, AMT, 5.00% 7/1/2029 |  | 1000 | 1103 |
| Dept. of Transportation, Airports Division, Lease Rev. Certs. of Part., Series 2013, AMT, 5.00% 8/1/2023 |  | 690 | 696 |
|  |  |  | **3816** |
| **Idaho 0.11%** |  |  |  |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2027 |  | 200 | 219 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2028 |  | 260 | 289 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2029 |  | 165 | 187 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2027 |  | 1100 | 1232 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2019-A, 4.00% 1/1/2050 |  | 790 | 801 |
|  |  |  | **2728** |

---

<br> 12 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois 3.21%** |  |  |  |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2029 | USD | 1000 | $1081 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2014, 5.00% 1/1/2024 |  | 625 | 638 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2023 |  | 2750 | 2795 |
| City of Chicago, Water Rev. Bonds, Series 2012, 5.00% 11/1/2023 |  | 1200 | 1202 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2028 |  | 1000 | 1058 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2022-A, 5.00% 11/15/2029 |  | 3005 | 3428 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 3/1/2023 |  | 100 | 100 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 3/1/2024 |  | 130 | 133 |
| Fin. Auth., Rev. Bonds (Centegra Health System), Series 2014-A, 5.00% 9/1/2026 (preref. 9/1/2024) |  | 1000 | 1040 |
| Fin. Auth., Rev. Bonds (Centegra Health System), Series 2014-A, 5.00% 9/1/2027 (preref. 9/1/2024) |  | 200 | 208 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2028 |  | 4705 | 5195 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 5.00% 8/15/2025 |  | 1265 | 1346 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-1, 5.00% 5/15/2050 (put 11/15/2024) |  | 2585 | 2652 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 5/15/2050 (put 11/15/2026) |  | 285 | 304 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 5/1/2023 |  | 225 | 226 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-B, (SIFMA Municipal Swap Index + 0.70%) 2.36% 5/1/2042 (put 5/1/2026)<sup>2</sup> |  | 250 | 243 |
| Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 6.00% 7/1/2043 |  | 8000 | 8096 |
| Fin. Auth., Rev. Bonds (University of Chicago Medicine), Series 2022-B-2, 5.00% 8/15/2052 (put 8/15/2027) |  | 6875 | 7537 |
| Fin. Auth., Rev. Bonds (University of Chicago), Series 2014-A, 5.00% 10/1/2023 |  | 200 | 203 |
| Fin. Auth., Rev. Bonds (University of Chicago), Series 2021-A, 5.00% 10/1/2025 |  | 1235 | 1322 |
| G.O. Bonds, Series 2013, 5.00% 7/1/2023 |  | 915 | 923 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2024 |  | 475 | 486 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2024 |  | 5250 | 5438 |
| G.O. Rev. Ref. Bonds, Series 2022-B, 5.00% 3/1/2026 |  | 3950 | 4180 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2021-C, 0.80% 7/1/2026 |  | 410 | 380 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Bellwood Senior), Series 2022, 4.00% 3/1/2043 (put 12/1/2024) |  | 1455 | 1469 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Berry Manor), Series 2022, 4.00% 9/1/2025 (put 9/1/2024) |  | 190 | 192 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Concord Commons), Series 2021, 0.25% 2/1/2024 (put 2/1/2023) |  | 2575 | 2575 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 2.66% 5/15/2050 (put 5/15/2025)<sup>2</sup> |  | 6625 | 6625 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 10/1/2049 |  | 275 | 280 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051 |  | 4700 | 4626 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2002-A, Assured Guaranty Municipal insured, 5.50% 12/15/2023 |  | 1250 | 1270 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 3.00% 6/15/2024 |  | 765 | 764 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-B, 5.00% 12/15/2027 |  | 100 | 106 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-B, 5.00% 12/15/2027 |  | 675 | 710 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2017-A, 5.00% 1/1/2027 |  | 1000 | 1087 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.25% 11/1/2036 (preref. 11/1/2023) |  | 2500 | 2583 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2014-D, 5.00% 1/1/2024 |  | 1295 | 1325 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 1/1/2025 |  | 2765 | 2903 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2024 |  | 1500 | 1535 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2025 |  | 250 | 262 |
|  |  |  | **78526** |
| **Indiana 2.45%** |  |  |  |
| Fin. Auth., Environmental Facs. Rev. Ref. Bonds (Indianapolis Power & Light Co. Project), Series 2020-B, AMT, 0.95% 12/1/2038 (put 4/1/2026) |  | 520 | 465 |
| Fin. Auth., Environmental Improvement Rev. Bonds (Fulcrum Centerpoint, LLC Project), Series 2022-A, AMT, 4.50% 12/15/2046 (put 12/1/2023) |  | 5000 | 5006 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Parkview Health System), Series 2017-A, 5.00% 11/1/2023 |  | 1335 | 1359 |
| Fin. Auth., Private Activity Bonds (Ohio River Bridges East End Crossing Project), Series 2013-A, AMT, 5.00% 7/1/2048 (preref. 7/1/2023) |  | 12070 | 12178 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2027 |  | 330 | 366 |

---

<br> American Funds Tax-Exempt Funds 13

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Indiana (continued)** |  |  |  |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2028 | USD | 425 | $482 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 10/1/2023 |  | 1195 | 1215 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 10/1/2023 |  | 220 | 224 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 10/1/2025 |  | 1250 | 1337 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 10/1/2028 |  | 1250 | 1426 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2022-A, 5.00% 10/1/2028 |  | 1100 | 1261 |
| City of Franklin, Econ. Dev. and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-B, 5.00% 7/1/2023 |  | 585 | 590 |
| Health Fac. Fncg. Auth., Rev. Bonds (Ascension Health Subordinate Credit Group), Series 2005-A-1, 4.00% 11/1/2023 |  | 110 | 111 |
| Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Justus Project), Series 2021, 0.33% 6/1/2024 (put 6/1/2023) |  | 1825 | 1803 |
| Housing and Community Dev. Auth., Multifamily Housing Rev. Bonds (Emerald Pointe Apartments Project), Series 2022, 5.00% 11/1/2025 (put 11/1/2024) |  | 375 | 385 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 7/1/2048 |  | 3500 | 3535 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 7/1/2048 |  | 2435 | 2475 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049 |  | 305 | 307 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-B-1, 3.25% 7/1/2049 |  | 250 | 248 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050 |  | 755 | 744 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 1/1/2052 |  | 2350 | 2309 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-C-1, 5.00% 7/1/2053 |  | 435 | 464 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A-1, 5.75% 7/1/2053 |  | 2105 | 2328 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2027 |  | 1500 | 1600 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2028 |  | 1350 | 1455 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2029 |  | 1225 | 1333 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds, Series 2021-A, 5.00% 6/1/2023 |  | 65 | 65 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2024 |  | 240 | 245 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2025 |  | 255 | 267 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2024 |  | 635 | 650 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2015-I, AMT, 5.00% 1/1/2026 |  | 2965 | 3077 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2016-A-1, AMT, 5.00% 1/1/2028 |  | 300 | 320 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2015-I, AMT, 5.00% 1/1/2033 |  | 2000 | 2066 |
| City of Indianapolis, Water System Rev. Ref. Bonds, Series 2016-B, 5.00% 10/1/2028 |  | 4000 | 4373 |
| City of Kokomo, Multi Family Housing Rev. Bonds (KHA RAD I Apartments), Series 2021-A, 0.56% 2/1/2025 (put 2/1/2024) |  | 2710 | 2621 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.00% 1/1/2028 |  | 700 | 788 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2016-A, AMT, 5.00% 3/1/2046 (put 3/1/2023) |  | 405 | 405 |
|  |  |  | **59883** |
| **Iowa 0.59%** |  |  |  |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 1/1/2049 |  | 330 | 331 |
| Fin. Auth., Solid Waste Fac. Rev. Green Bonds (Gevo NW Iowa RNG, LLC Renewable Natural Gas Project), Series 2021, AMT, 1.50% 1/1/2042 (put 4/1/2024) |  | 905 | 890 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026) |  | 12780 | 13270 |
|  |  |  | **14491** |

---

<br> 14 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Kansas 0.39%** |  |  |  |
| Dev. Fin. Auth., Hospital Rev. Bonds (Advent Health Obligated Group), Series 2021-B, 5.00% 11/15/2054 (put 11/15/2028) | USD | 5040 | $5606 |
| Dept. of Transportation, Highway Rev. Bonds, Series 2004-C-4, (1-month USD-LIBOR x 0.70 + 0.50%) 3.558% 9/1/2024<sup>2</sup> |  | 4000 | 4017 |
|  |  |  | **9623** |
| **Kentucky 0.53%** |  |  |  |
| Housing Corp., Multi Family Housing Rev. Bonds (Cambridge Square Project), Series 2021, 0.30% 8/1/2024 (put 2/1/2024) |  | 800 | 772 |
| Housing Corp., Multi Family Housing Rev. Bonds (New Hope Properties Portfolio Project), Series 2021, 0.41% 4/1/2024 (put 10/1/2023) |  | 4435 | 4311 |
| Housing Corp., Multi Family Housing Rev. Bonds (Winterwood II Rural Housing Portfolio), Series 2021, 0.37% 10/1/2024 (put 10/1/2023) |  | 1790 | 1746 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, 4.00% 1/1/2049 (put 1/1/2025) |  | 2035 | 2035 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-A-1, 4.00% 12/1/2049 (put 6/1/2025) |  | 1905 | 1911 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-2, (USD-SOFR x 0.67 + 1.20%) 4.081% 8/1/2052 (put 8/1/2030)<sup>2</sup> |  | 570 | 544 |
| County of Trimble, Pollution Control Rev. Ref. Bonds (Louisville Gas and Electric Co. Project), Series 2016-A, AMT, 1.30% 9/1/2044 (put 9/1/2027) |  | 1975 | 1717 |
|  |  |  | **13036** |
| **Louisiana 1.48%** |  |  |  |
| Parish of East Baton Rouge, Road and Street Improvement Sales Tax Rev. Ref. Bonds, Series 2020, Assured Guaranty Municipal insured, 5.00% 8/1/2024 |  | 1000 | 1036 |
| Parish of East Baton Rouge, Sewerage Commission, Multi Modal Rev. Ref. Bonds, Series 2021-A, 1.30% 2/1/2041 (put 2/1/2028) |  | 3000 | 2648 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2026 |  | 1125 | 1214 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2017-A, 0.60% 5/1/2043 (put 5/1/2023) |  | 2995 | 2972 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2017-D-1, 0.60% 5/1/2043 (put 5/1/2023) |  | 1165 | 1156 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2022-A, (USD-SOFR x 0.50 + 0.50%) 3.51% 5/1/2043 (put 5/1/2026)<sup>2</sup> |  | 1135 | 1112 |
| Grant Anticipation Rev. Bonds, Series 2021, 5.00% 9/1/2023 |  | 835 | 848 |
| Housing Corp., Multi Family Housing Rev. Bonds (Arbours at Lafayette Project), Series 2021, 0.35% 4/1/2024 (put 4/1/2023) |  | 2195 | 2181 |
| Housing Corp., Multi Family Housing Rev. Bonds (Hollywood Acres and Hollywood Heights Projects), Series 2019, 0.55% 12/1/2023 |  | 1900 | 1848 |
| Housing Corp., Multi Family Housing Rev. Bonds (Mabry Place Townhomes Project), Series 2021, 0.31% 8/1/2024 (put 8/1/2023) |  | 2320 | 2279 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2022-A, 5.00% 6/1/2052 |  | 10725 | 11395 |
| Parish of Jefferson, Sales Tax Rev. Ref. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 250 | 255 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Bonds (East Baton Rouge Sewerage Commission Projects), Series 2013-A, 4.00% 2/1/2048 (preref. 2/1/2023) |  | 1000 | 1000 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Louisiana Community and Technical College System Act 391 Projects), Series 2017, BAM insured, 5.00% 10/1/2024 |  | 1000 | 1036 |
| Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2013-A, 1.65% 9/1/2033 (put 12/1/2023) |  | 1835 | 1815 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2020-B, 5.00% 5/15/2050 (put 5/15/2025) |  | 610 | 638 |
| Public Facs. Auth., Rev. Ref. Bonds (Nineteenth Judicial Dist. Court Building Project), Series 2015, Assured Guaranty Municipal insured, 5.00% 6/1/2036 (preref. 6/1/2025) |  | 1020 | 1082 |
| Parish of Tangipahoa, Hospital Service Dist. No. 1, Hospital Rev. Ref. Bonds (North Oaks Health System Project), Series 2021, 5.00% 2/1/2027 |  | 1500 | 1595 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2013-A, 5.00% 5/15/2023 |  | 215 | 216 |
|  |  |  | **36326** |

---

<br> American Funds Tax-Exempt Funds 15

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Maine 0.22%** |  |  |  |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2024 | USD | 65 | $67 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2025 |  | 75 | 79 |
| Housing Auth., Mortgage Purchase Bonds, Series 2017-A, 4.00% 11/15/2047 |  | 145 | 146 |
| Housing Auth., Mortgage Purchase Bonds, Series 2021-D, 3.00% 11/15/2051 |  | 4345 | 4276 |
| Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-E-1, AMT, 3.50% 11/15/2035 |  | 760 | 757 |
|  |  |  | **5325** |
| **Maryland 1.57%** |  |  |  |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 9/1/2044 |  | 375 | 374 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-A, 4.50% 9/1/2048 |  | 2530 | 2596 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-B, AMT, 4.50% 9/1/2048 |  | 1065 | 1084 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2019-C, 3.50% 3/1/2050 |  | 660 | 660 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-A, 3.75% 3/1/2050 |  | 720 | 726 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 3.25% 9/1/2050 |  | 4530 | 4504 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-A, 3.00% 9/1/2051 |  | 4080 | 4024 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-B, 3.00% 9/1/2051 |  | 1220 | 1201 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% 9/1/2051 |  | 2532 | 2488 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (MedStar Health Issue), Series 2013-B, 5.00% 8/15/2031 |  | 5615 | 5664 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Peninsula Regional Medical Center Issue), Series 2015, 5.00% 7/1/2045 (preref. 7/1/2024) |  | 3000 | 3105 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2017-A, 4.00% 7/1/2048 |  | 925 | 932 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 7/1/2049 |  | 1325 | 1337 |
| County of Prince George, Certs. of Part. (Behavioral Health Fac. and Capital Equipment), Series 2021, 5.00% 10/1/2023 |  | 700 | 712 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2019, 5.00% 10/1/2026 |  | 2775 | 3058 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2016, 5.00% 11/1/2026 |  | 3050 | 3201 |
| Dept. of Transportation, Consolidated Transportation Rev. Ref. Bonds, Series 2015, 5.00% 2/15/2023 |  | 1000 | 1001 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 5.00% 7/1/2026 |  | 1585 | 1732 |
|  |  |  | **38399** |
| **Massachusetts 0.84%** |  |  |  |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-A, 5.00% 2/1/2027 |  | 500 | 556 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-B, 5.00% 2/1/2027 |  | 500 | 556 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-A, 5.00% 2/1/2028 |  | 625 | 712 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-B, 5.00% 2/1/2028 |  | 750 | 854 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2022, 5.00% 2/1/2029 |  | 1000 | 1165 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-A, 5.00% 2/1/2029 |  | 675 | 785 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-B, 5.00% 2/1/2029 |  | 1785 | 2080 |
| Clean Water Trust, Revolving Fund Rev. Ref. Green Bonds, Series 2022, 5.00% 2/1/2027 |  | 750 | 834 |
| Clean Water Trust, Revolving Fund Rev. Ref. Green Bonds, Series 2022, 5.00% 2/1/2028 |  | 1000 | 1139 |
| Dev. Fin. Agcy., Multi Family Housing Rev. Bonds (Salem Heights II Preservation Associates, LP Issue), Series 2021-B, 0.25% 7/1/2024 (put 7/1/2023) |  | 480 | 473 |
| Dev. Fin. Agcy., Rev. Bonds (Mass General Brigham, Inc.), Series 2019-T-1, 2.26% 7/1/2049 (put 1/29/2026)<sup>2,3</sup> |  | 470 | 464 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Berkshire Health Systems Issue), Series 2021-I, 5.00% 10/1/2024 |  | 915 | 949 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2021-B, AMT, 2.00% 7/1/2037 |  | 205 | 176 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038 |  | 2400 | 2287 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.30% 12/1/2023 |  | 125 | 122 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.40% 6/1/2024 |  | 160 | 155 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-B-2, 0.75% 6/1/2025 |  | 195 | 184 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2022-D-3, 3.35% 6/1/2027 |  | 1950 | 1969 |

---

<br> 16 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Massachusetts (continued)** |  |  |  |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 167, 4.00% 12/1/2043 | USD | 35 | $35 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 169, 4.00% 12/1/2044 |  | 175 | 175 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 181, 4.00% 12/1/2044 |  | 175 | 176 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 172, 4.00% 6/1/2045 |  | 170 | 170 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 183, 3.50% 12/1/2046 |  | 185 | 185 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 223, 3.00% 6/1/2047 |  | 830 | 818 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 224, 5.00% 6/1/2050 |  | 375 | 399 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 177, AMT, 4.00% 6/1/2039 |  | 780 | 780 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 188, AMT, 4.00% 6/1/2043 |  | 335 | 335 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 171, 4.00% 12/1/2044 |  | 70 | 70 |
| Massachusetts Bay Transportation Auth., Sales Tax Green Bond Anticipation Notes, Series 2021, 4.00% 5/1/2025 |  | 965 | 1001 |
| Transportation Fund Rev. Bonds (Rail Enhancement Program), Series 2021-B, 5.00% 6/1/2026 |  | 350 | 382 |
| Water Resources Auth., General Rev. Bonds, Series 2020-B, 5.00% 8/1/2029 |  | 475 | 556 |
|  |  |  | **20542** |
| **Michigan 1.92%** |  |  |  |
| Brandon School Dist., Unlimited Tax G.O. Rev. Ref. Bonds, Series 2016, 5.00% 5/1/2030 (preref. 5/1/2025) |  | 1250 | 1325 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Beaumont - Spectrum Consolidation), Series 2022, 5.00% 4/15/2025 |  | 2000 | 2107 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Beaumont - Spectrum Consolidation), Series 2022, 5.00% 4/15/2027 |  | 1170 | 1293 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Local Project Bonds), Series 2014-C-3, Assured Guaranty Municipal insured, 5.00% 7/1/2023 |  | 2500 | 2524 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 6/1/2025 |  | 1000 | 1037 |
| Grant Anticipation Rev. Ref. Bonds, Series 2016, 5.00% 3/15/2027 |  | 3000 | 3331 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Project Rev. Bonds (Ascension Health Senior Credit Group), Series 2010-F-1, 4.00% 11/15/2047 (put 6/1/2023) |  | 4000 | 4023 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 0.55% 4/1/2025 |  | 675 | 641 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2015-A, 4.00% 6/1/2046 |  | 1605 | 1611 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047 |  | 750 | 749 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 6/1/2048 |  | 2405 | 2402 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048 |  | 3965 | 4003 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 6/1/2049 |  | 4365 | 4437 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 12/1/2050 |  | 3770 | 3776 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052 |  | 2535 | 2496 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 6/1/2053 |  | 3075 | 3270 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-D, 5.50% 6/1/2053 |  | 5990 | 6534 |
| City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2019-A, 5.00% 7/1/2024 |  | 375 | 389 |
| Strategic Fund, Limited Obligation Rev. Bonds (Consumers Energy Co. Project), Series 2019, AMT, 1.80% 10/1/2049 (put 10/1/2024) |  | 710 | 692 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-C, 5.00% 12/1/2023 |  | 290 | 296 |
|  |  |  | **46936** |
| **Minnesota 1.98%** |  |  |  |
| County of Dakota, Community Dev. Agcy., Multi Family Housing Rev. Bonds (Ree-Aster House Apartments Project), Series 2020, 0.35% 6/1/2024 (put 6/1/2023) |  | 2885 | 2851 |
| G.O. Rev. Ref. Bonds, Series 2017-D, 5.00% 10/1/2025 |  | 6460 | 6935 |
| City of Hopkins, Multi Family Housing Rev. Bonds (Raspberry Ridge Project), Series 2021, 0.26% 2/1/2024 (put 2/1/2023) |  | 1420 | 1420 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2013-A, AMT, 3.00% 7/1/2031 |  | 35 | 35 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-A, 4.00% 7/1/2038 |  | 175 | 175 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-A, AMT, 4.00% 1/1/2041 |  | 115 | 115 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045 |  | 320 | 320 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-E, AMT, 3.50% 1/1/2046 |  | 780 | 775 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2016-E, 4.00% 1/1/2047 |  | 50 | 50 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-E, 4.00% 1/1/2048 |  | 410 | 414 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 7/1/2048 |  | 3125 | 3146 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-E, 4.25% 1/1/2049 |  | 3040 | 3100 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-B, 3.50% 7/1/2050 |  | 1130 | 1132 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 3.50% 7/1/2050 |  | 945 | 946 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-I, 3.00% 1/1/2051 |  | 1245 | 1228 |

---

<br> American Funds Tax-Exempt Funds 17

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Minnesota (continued)** |  |  |  |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-B, 3.00% 7/1/2051 | USD | 620 | $611 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-D, 3.00% 1/1/2052 |  | 270 | 266 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-F, 3.00% 7/1/2052 |  | 3960 | 3898 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 7/1/2052 |  | 2810 | 2765 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 7/1/2052 |  | 4490 | 4415 |
| Municipal Gas Agcy., Commodity Supply Rev. Bonds, Series 2022-A, 4.00% 12/1/2052 (put 12/1/2027) |  | 11265 | 11487 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2014-B, AMT, 5.00% 1/1/2025 |  | 1000 | 1017 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2025 |  | 475 | 492 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2026 |  | 880 | 926 |
|  |  |  | **48519** |
| **Mississippi 0.27%** |  |  |  |
| Home Corp., Collateralized Multi Family Housing Rev. Bonds (J&A Dev. Portfolio Project I), Series 2021-1, 0.30% 2/1/2024 (put 2/1/2023) |  | 605 | 605 |
| Home Corp., Multi Family Housing Rev. Bonds (Southwest Village Apartments Project), Series 2022-2, 2.00% 2/1/2025 (put 2/1/2024) |  | 1760 | 1744 |
| Home Corp., Single Family Mortgage Social Rev. Bonds, Series 2022-A, 3.00% 6/1/2050 |  | 980 | 964 |
| Home Corp., Single Family Mortgage Social Rev. Bonds, Series 2022-C, 5.00% 12/1/2052 |  | 1040 | 1109 |
| West Rankin Utility Auth., Rev. Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 1/1/2033 (preref. 1/1/2025) |  | 1025 | 1077 |
| West Rankin Utility Auth., Rev. Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 1/1/2034 (preref. 1/1/2025) |  | 1025 | 1077 |
|  |  |  | **6576** |
| **Missouri 1.01%** |  |  |  |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-B, 4.00% 5/1/2051 (put 5/1/2026) |  | 6005 | 6239 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-A, 5.00% 2/1/2025 |  | 100 | 101 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-B, 3.50% 5/1/2041 |  | 1170 | 1169 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-A, 3.50% 11/1/2050 |  | 2645 | 2649 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-C, 3.50% 11/1/2050 |  | 820 | 821 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-D, 3.25% 5/1/2051 |  | 3455 | 3433 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-A, 3.00% 5/1/2052 |  | 1050 | 1034 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-B, 3.00% 5/1/2052 |  | 3980 | 3919 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 11/1/2052 |  | 995 | 988 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2014-B, 4.00% 11/1/2040 |  | 205 | 206 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2014-A, 4.00% 11/1/2041 |  | 135 | 135 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-B-1, AMT, 4.00% 11/1/2045 |  | 790 | 791 |
| County of St. Charles, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Hidden Valley Estates), Series 2021, 0.27% 8/1/2025 (put 10/1/2023) |  | 1540 | 1503 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2030 |  | 1500 | 1811 |
|  |  |  | **24799** |
| **Montana 0.22%** |  |  |  |
| Board of Housing, Single Family Homeownership Bonds, Series 2012-A-2, AMT, 4.00% 12/1/2038 |  | 140 | 140 |
| Board of Housing, Single Family Mortgage Bonds, Series 2015-B-2, AMT, 3.50% 12/1/2042 |  | 160 | 159 |
| Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 6/1/2044 |  | 95 | 95 |
| Board of Housing, Single Family Mortgage Bonds, Series 2019-A, 4.25% 12/1/2045 |  | 1120 | 1138 |

---

<br> 18 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Montana (continued)** |  |  |  |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-C, 3.00% 12/1/2050 | USD | 1085 | $1071 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 4.00% 12/1/2050 |  | 925 | 940 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-B, 3.00% 12/1/2051 |  | 375 | 369 |
| Board of Housing, Single Family Mortgage Bonds, Series 2022-A, 3.00% 6/1/2052 |  | 1390 | 1368 |
|  |  |  | **5280** |
| **Nebraska 0.69%** |  |  |  |
| Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 5), Series 2022-1, 5.00% 5/1/2053 (put 10/1/2029) |  | 6955 | 7353 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2017-B, AMT, 3.50% 3/1/2040 |  | 75 | 74 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2014-A, 4.00% 9/1/2044 |  | 340 | 341 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 9/1/2045 |  | 495 | 495 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 9/1/2046 |  | 165 | 165 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 9/1/2048 |  | 510 | 515 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 9/1/2048 |  | 2800 | 2828 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049 |  | 1570 | 1573 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-C, 3.00% 9/1/2050 |  | 525 | 518 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 9/1/2050 |  | 3080 | 3033 |
|  |  |  | **16895** |
| **Nevada 0.80%** |  |  |  |
| Dept. of Business and Industry, Rev. Bonds (Brightline West Passenger Rail Project), Series 2020-A, 3.70% 1/1/2050 (put 1/31/2024) |  | 1885 | 1885 |
| County of Clark, Airport System Rev. Notes, Series 2021-B, AMT, 5.00% 7/1/2025 |  | 1765 | 1846 |
| County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2019-A, 5.00% 7/1/2023 |  | 1470 | 1485 |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2015-C, 5.00% 7/1/2027 |  | 1815 | 2029 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Nevada Power Co. Projects), Series 2017, 1.65% 1/1/2036 (put 3/31/2023) |  | 645 | 644 |
| Housing Division, Multi Family Housing Rev. Bonds (Southwest Village Apartments), Series 2021, 0.47% 10/1/2024 (put 10/1/2023) |  | 515 | 503 |
| Housing Division, Multi Family Housing Rev. Bonds (Woodcreek Apartments), Series 2022, 5.00% 12/1/2025 (put 12/1/2024) |  | 2775 | 2861 |
| Housing Division, Single Family Mortgage Rev. Ref. Bonds, Series 2022-A, 3.50% 4/1/2051 |  | 970 | 972 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2029 |  | 1210 | 1381 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2020-A, 5.00% 6/1/2026 |  | 1685 | 1838 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2031 |  | 1750 | 1901 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2034 |  | 2195 | 2369 |
|  |  |  | **19714** |
| **New Hampshire 0.14%** |  |  |  |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A, 6.00% 7/1/2053 |  | 435 | 485 |
| National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2018-A, AMT, (SIFMA Municipal Swap Index + 0.75%) 2.035% 10/1/2033 (put 7/1/2024)<sup>2</sup> |  | 3085 | 2999 |
|  |  |  | **3484** |
| **New Jersey 2.00%** |  |  |  |
| City of Bayonne, General Improvement Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 7/1/2031 (preref. 7/1/2026) |  | 1000 | 1094 |
| City of Bayonne, General Improvement Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 7/1/2032 (preref. 7/1/2026) |  | 1000 | 1094 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-A, 1.00% 6/1/2023 |  | 275 | 273 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.15% 6/1/2023 |  | 5500 | 5461 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-E, AMT, 0.85% 12/1/2025 |  | 1755 | 1644 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.10% 11/1/2029 (put 12/1/2027) |  | 2325 | 2108 |

---

<br> American Funds Tax-Exempt Funds 19

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New Jersey (continued)** |  |  |  |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.20% 11/1/2034 (put 6/1/2023) | USD | 4915 | $4881 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2023 |  | 850 | 859 |
| Educational Facs. Auth., Rev. Ref. Bonds (Princeton University), Series 2016-B, 5.00% 7/1/2024 |  | 2505 | 2600 |
| Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series 2019-B-3, 5.00% 7/1/2045 (put 7/1/2026) |  | 1000 | 1076 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2023 |  | 2425 | 2448 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 12/1/2032 |  | 2500 | 2395 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2020-B, AMT, 3.50% 12/1/2039 |  | 1325 | 1300 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-B, AMT, 5.00% 12/1/2023 |  | 300 | 305 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 12/1/2024 |  | 330 | 341 |
| Housing and Mortgage Fin. Agcy., Multi Family Conduit Rev. Bonds (Browns Woods Apartments Project), Series 2021-A, 1.25% 12/1/2024 (put 12/1/2023) |  | 1910 | 1883 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 10/1/2048 |  | 3625 | 3719 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050 |  | 625 | 644 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-E, 3.50% 4/1/2051 |  | 1590 | 1593 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2022-I, 5.00% 10/1/2053 |  | 2250 | 2401 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2023 |  | 3205 | 3229 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2018-A, 5.00% 12/15/2024 |  | 1355 | 1413 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2018-A, 5.00% 12/15/2032 |  | 2070 | 2302 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2014-A, 5.00% 1/1/2028 |  | 230 | 238 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 1/1/2028 |  | 3350 | 3628 |
|  |  |  | **48929** |
| **New Mexico 0.67%** |  |  |  |
| Educational Assistance Foundation, Education Loan Bonds, Series 2021-1-A, AMT, 2.05% 9/1/2051 |  | 2475 | 2251 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-D, 1.10% 6/1/2040 (put 6/1/2023) |  | 500 | 496 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-E, 1.15% 6/1/2040 (put 6/1/2024) |  | 3985 | 3851 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2016-A-2, Class I, AMT, 3.50% 3/1/2046 |  | 340 | 337 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2017-B-2, Class I, AMT, 3.75% 3/1/2048 |  | 405 | 403 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-C, Class I, 4.00% 1/1/2049 |  | 900 | 910 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-C-1, Class I, 4.00% 7/1/2050 |  | 465 | 471 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-C, Class I, 3.00% 1/1/2052 |  | 715 | 704 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2022-D, Class I, 5.25% 3/1/2053 |  | 3595 | 3909 |
| Municipal Energy Acquisition Auth., Gas Supply Rev. Ref. and Acquisition Bonds, Series 2019, 5.00% 11/1/2039 (put 5/1/2025) |  | 3045 | 3156 |
|  |  |  | **16488** |
| **New York 8.11%** |  |  |  |
| Build NYC Resource Corp., Rev. Bonds (Academic Leadership Charter School Project), Series 2021, 4.00% 6/15/2023 |  | 100 | 100 |
| Build NYC Resource Corp., Rev. Bonds (Academic Leadership Charter School Project), Series 2021, 4.00% 6/15/2024 |  | 70 | 70 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Ethical Culture Fieldston School Project), Series 2015, 5.00% 6/1/2024 |  | 360 | 371 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 3/15/2024 (escrowed to maturity) |  | 3000 | 3091 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2027 |  | 1565 | 1742 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2027 (escrowed to maturity) |  | 1485 | 1653 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 5.00% 2/15/2028 |  | 1900 | 2159 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 5.00% 3/15/2030 |  | 1375 | 1627 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-C, 5.00% 3/15/2024 (escrowed to maturity) |  | 3000 | 3089 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-P, 1.55% 11/1/2023 |  | 1520 | 1504 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 0.85% 11/1/2024 |  | 1075 | 1028 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-2, 0.75% 11/1/2025 |  | 9225 | 8513 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-E-2, 0.65% 11/1/2056 (put 11/1/2025) |  | 1775 | 1638 |

---

<br> 20 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-I-2, 0.70% 11/1/2056 (put 11/1/2025) | USD | 1705 | $1590 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 11/1/2061 (put 5/1/2027) |  | 6460 | 5881 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 0.95% 11/15/2027 |  | 3645 | 3163 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-C, 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 890 | 890 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C, (1-month USD-LIBOR x 0.70 + 0.75%) 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 2705 | 2704 |
| Metropolitan Transportation Auth., Dedicated Tax Fund Rev. Ref. Bonds, Series 2008-B-4, 5.00% 11/15/2023 |  | 3000 | 3059 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2005-B, AMBAC insured, 5.25% 11/15/2023 |  | 715 | 726 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-B, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 3.431% 11/1/2032 (put 4/1/2024)<sup>2</sup> |  | 2160 | 2168 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-2, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.80%) 3.681% 11/1/2032 (put 4/1/2026)<sup>2</sup> |  | 580 | 576 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-B, 5.00% 11/15/2023 |  | 1590 | 1611 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2023 |  | 675 | 684 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028 |  | 3490 | 3712 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 235, AMT, 0.40% 4/1/2023 |  | 265 | 264 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 235, AMT, 0.55% 10/1/2023 |  | 195 | 192 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 10/1/2030 |  | 475 | 473 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 191, AMT, 3.50% 10/1/2034 |  | 355 | 354 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 206, AMT, 4.00% 10/1/2037 |  | 1065 | 1067 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 178, 3.50% 10/1/2043 |  | 210 | 210 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 10/1/2044 |  | 455 | 455 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 10/1/2045 |  | 6555 | 6465 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 200, 3.50% 10/1/2045 |  | 180 | 180 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 195, 4.00% 10/1/2046 |  | 740 | 744 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 203, 3.50% 10/1/2047 |  | 1700 | 1699 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047 |  | 3925 | 3982 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051 |  | 280 | 279 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 10/1/2052 |  | 145 | 145 |
| New York City G.O. Bonds, Series 2013-J, 5.00% 8/1/2025 |  | 3325 | 3366 |
| New York City G.O. Bonds, Series 2017-C, 5.00% 8/1/2025 |  | 1000 | 1068 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2025 |  | 2000 | 2136 |
| New York City G.O. Bonds, Series 2014-I-1, 5.00% 3/1/2026 |  | 825 | 848 |
| New York City G.O. Bonds, Series 2018-A, 5.00% 8/1/2026 |  | 1185 | 1300 |
| New York City G.O. Bonds, Series 2020-C-1, 5.00% 8/1/2027 |  | 1000 | 1123 |
| New York City G.O. Bonds, Series 2017-1, 5.00% 8/1/2031 |  | 1560 | 1746 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2033 |  | 15 | 18 |
| New York City G.O. Bonds, Series 2015-F-4, 5.00% 6/1/2044 (put 12/1/2025) |  | 1530 | 1608 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2/15/2024 |  | 105 | 108 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 11/1/2060 (put 7/1/2025) |  | 2035 | 1908 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2018-L-2, 2.75% 5/1/2050 (put 12/29/2023) |  | 1000 | 1000 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2020-I-2, 0.70% 11/1/2060 (put 5/1/2025) |  | 1980 | 1863 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-2, 0.60% 5/1/2061 (put 7/1/2025) |  | 1890 | 1767 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-DD, 5.00% 6/15/2026 |  | 3305 | 3618 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 5.00% 2/1/2023 |  | 185 | 185 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 5.00% 11/1/2024 |  | 3725 | 3900 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-F-1, 5.00% 11/1/2024 |  | 1810 | 1895 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-1, 5.00% 11/1/2025 |  | 325 | 349 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-D-1, 5.00% 11/1/2026 |  | 2510 | 2772 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2013-I, 5.00% 5/1/2027 |  | 790 | 795 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-A-1, 5.00% 11/1/2027 |  | 3400 | 3847 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 1999-A-1, 5.00% 11/1/2028 |  | 3490 | 4042 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2023-B-1, 5.00% 11/1/2028 |  | 1145 | 1326 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E-1, 5.00% 3/15/2028 |  | 1825 | 2086 |
| Port Auth., Consolidated Bonds, Series 223, AMT, 5.00% 7/15/2023 |  | 375 | 378 |
| Port Auth., Consolidated Bonds, Series 194, 5.00% 10/15/2024 |  | 1050 | 1097 |
| Port Auth., Consolidated Bonds, Series 226, AMT, 5.00% 10/15/2027 |  | 3650 | 3985 |

---

<br> American Funds Tax-Exempt Funds 21

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 11/15/2027 | USD | 1000 | $1134 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2023 |  | 1100 | 1121 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2024 |  | 4000 | 4136 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2025 |  | 1000 | 1049 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2025 |  | 880 | 935 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2026 |  | 1320 | 1419 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2026 |  | 1000 | 1063 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2028 |  | 5510 | 5961 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2026 |  | 6100 | 6705 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2027 |  | 4285 | 4827 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Green Bonds (MTA Bridges and Tunnels), Series 2022-E-1, 5.00% 11/15/2027 |  | 5950 | 6680 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2029 |  | 6385 | 7552 |
| TSASC, Inc., Tobacco Settlement Bonds, Series 2017-A, 5.00% 6/1/2027 |  | 1500 | 1593 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-D, 5.00% 3/15/2024 (preref. 3/15/2023) |  | 1000 | 1003 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2015-A, 5.00% 3/15/2024 |  | 2340 | 2410 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2025 |  | 1000 | 1057 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2026 |  | 1420 | 1543 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2027 (preref. 3/15/2026) |  | 3205 | 3476 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2028 |  | 1000 | 1080 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 5.00% 3/15/2027 |  | 6345 | 7077 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 12/15/2025 |  | 370 | 378 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 12/15/2029 |  | 5000 | 5663 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 12/15/2030 |  | 4665 | 5402 |
| County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Marble Hall - Tuckahoe, LP Project), Series 2021, 0.28% 4/1/2024 (put 4/1/2023) |  | 5365 | 5333 |
|  |  |  | **198589** |
| **North Carolina 1.78%** |  |  |  |
| Eastern Municipal Power Agcy., Power System Rev. Ref. Bonds, Series 1993-B, 6.00% 1/1/2026 (escrowed to maturity) |  | 1000 | 1099 |
| City of Goldsboro, Multi Family Housing Rev. Bonds (Grand at Day Point), Series 2021, 0.28% 5/1/2024 (put 5/1/2023) |  | 885 | 876 |
| Hospital Auth., Health Care Rev. Bonds (Charlotte-Mecklenburg Hospital), Series 2018-E, 0.80% 1/15/2048 (put 10/31/2025) |  | 3230 | 3085 |
| Hospital Auth., Health Care Rev. Bonds (Charlotte-Mecklenburg Hospital), Series 2021-B, 5.00% 1/15/2050 (put 12/2/2024) |  | 7500 | 7827 |
| Hospital Auth., Health Care Rev. Ref. Bonds (Charlotte-Mecklenburg Hospital), Series 2022-A, 5.00% 1/15/2030 |  | 515 | 600 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 40, 4.25% 7/1/2047 |  | 2190 | 2227 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 47, 3.00% 7/1/2051 |  | 8535 | 8402 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 49, 6.00% 7/1/2053 |  | 450 | 502 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 37-A, AMT, 3.50% 7/1/2039 |  | 340 | 338 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 7/1/2047 |  | 3135 | 3160 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 1/1/2050 |  | 1455 | 1475 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 7/1/2050 |  | 3925 | 3985 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Winds Crest Senior Living, LP), Series 2021, 0.36% 6/1/2024 (put 6/1/2023) |  | 1060 | 1052 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 5/1/2023 |  | 1000 | 1005 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2015-B, AMT, 5.00% 5/1/2026 |  | 1615 | 1689 |

---

<br> 22 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **North Carolina (continued)** |  |  |  |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2015-B, AMT, 5.00% 5/1/2028 | USD | 1000 | $1046 |
| Board of Governors of the University of North Carolina at Chapel Hill, General Rev. Bonds, Series 2012-B, (USD-SOFR x 0.67 + 0.65%) 3.531% 12/1/2041 (put 6/1/2025)<sup>2</sup> |  | 1250 | 1254 |
| County of Wake, G.O. Recreation and Open Space Bonds, Series 2022-C, 5.00% 2/1/2027 |  | 2160 | 2401 |
| County of Wake, Limited Obligation Bonds, Series 2021, 5.00% 3/1/2023 |  | 1650 | 1653 |
|  |  |  | **43676** |
| **North Dakota 1.39%** |  |  |  |
| County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2021-A, 0.48% 5/1/2024 |  | 3310 | 3181 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 12/1/2027 |  | 605 | 656 |
| Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 7/1/2046 |  | 1990 | 1988 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-B, 4.00% 1/1/2036 |  | 60 | 60 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-A, 4.00% 1/1/2038 |  | 185 | 185 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2016-B, AMT, 4.00% 1/1/2047 |  | 2235 | 2237 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-D, 4.00% 1/1/2048 |  | 530 | 534 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-F, 4.00% 7/1/2048 |  | 2825 | 2850 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-A, 4.00% 1/1/2049 |  | 6095 | 6152 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-D, 4.25% 1/1/2049 |  | 2980 | 3026 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-A, 4.25% 7/1/2049 |  | 565 | 575 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, 3.75% 7/1/2050 |  | 675 | 680 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2020-B, 3.00% 7/1/2051 |  | 1650 | 1628 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052 |  | 690 | 680 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052 |  | 1455 | 1429 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2022-A, 4.00% 1/1/2053 |  | 5740 | 5868 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-A, 5.75% 7/1/2053 |  | 1980 | 2190 |
|  |  |  | **33919** |
| **Ohio 1.99%** |  |  |  |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% 11/1/2039 (put 6/1/2027) |  | 3790 | 3885 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-B, 1.375% 2/1/2026 (put 11/1/2024) |  | 175 | 167 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2005-A, AMT, 2.10% 1/1/2029 (put 10/1/2024) |  | 1000 | 971 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 2/1/2025 |  | 1085 | 1141 |
| City of Cleveland, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 1/1/2025 |  | 1000 | 1034 |
| City of Columbus, Limited Tax Bonds, Series 2019-B, 5.00% 4/1/2023 |  | 1690 | 1697 |
| County of Cuyahoga, Metropolitan Housing Auth., Multifamily Housing Rev. Bonds (Wade Park Apartments), Series 2022, 4.75% 12/1/2027 (put 12/1/2025) |  | 1175 | 1221 |
| City of Dayton, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds (Southern Montgomery Apartments Project), Series 2021-A, 0.32% 9/1/2024 (put 9/1/2023) |  | 6165 | 6037 |
| G.O. Common Schools Bonds, Series 2018-A, 5.00% 6/15/2024 |  | 545 | 565 |
| G.O. Common Schools Rev. Ref. Bonds, Series 2022-A, 5.00% 6/15/2028 |  | 1225 | 1403 |
| G.O. Highway Capital Improvement Bonds, Series 2022-X, 5.00% 5/1/2025 |  | 475 | 504 |
| G.O. Highway Capital Improvement Bonds, Series 2022-X, 5.00% 5/1/2027 |  | 135 | 151 |
| G.O. Infrastructure Improvement Rev. Ref. Bonds, Series 2021-B, 5.00% 2/1/2030 |  | 170 | 201 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2023 |  | 85 | 85 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2024 |  | 1875 | 1917 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2025 |  | 555 | 581 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Chevybrook Estates Apartments Project), Series 2021, 0.35% 3/1/2024 (put 3/1/2023) |  | 480 | 479 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Franklin Manor North Project), Series 2021, 0.25% 9/1/2024 (put 9/1/2023) |  | 1875 | 1833 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Glen Meadows Apartments Project), Series 2021-A, 0.40% 11/1/2024 (put 11/1/2023) |  | 800 | 779 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Marianna Terrace Apartments), Series 2022-A, 1.30% 3/1/2025 (put 3/1/2024) |  | 366 | 358 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Pendleton Apartments Project), Series 2021, 0.26% 3/1/2025 (put 3/1/2023) |  | 1750 | 1745 |

---

<br> American Funds Tax-Exempt Funds 23

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Ohio (continued)** |  |  |  |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Post Oak Station Project), Series 2022, 3.35% 7/1/2025 (put 7/1/2024) | USD | 295 | $295 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-K, 3.50% 9/1/2046 |  | 480 | 480 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-D, 4.00% 3/1/2047 |  | 315 | 317 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-B, AMT, 4.50% 3/1/2047 |  | 240 | 242 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, 4.00% 3/1/2048 |  | 1515 | 1527 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% 9/1/2049 |  | 1955 | 1999 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 9/1/2050 |  | 2095 | 2114 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-C, 3.25% 3/1/2051 |  | 3070 | 3049 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-A, 3.00% 3/1/2052 |  | 1840 | 1814 |
| Major New State Infrastructure Project Rev. Bonds, Series 2022-1, 5.00% 12/15/2027 |  | 1000 | 1128 |
| Major New State Infrastructure Project Rev. Bonds, Series 2022-1, 5.00% 12/15/2029 |  | 815 | 957 |
| Miami University, General Receipts and Rev. Ref. Bonds, Series 2022-A, 5.00% 9/1/2027 |  | 575 | 641 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2029 |  | 175 | 199 |
| City of Toledo, Water System Improvement Rev. Ref. Bonds, Series 2013, 5.00% 11/15/2038 (preref. 5/15/2023) |  | 4000 | 4030 |
| Turnpike and Infrastructure Commission, Rev. Bonds, Series 2013-A-1, 5.00% 2/15/2025 |  | 820 | 821 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2/15/2028 |  | 500 | 567 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2026 |  | 300 | 328 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2026 |  | 450 | 498 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2029 |  | 245 | 287 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2029 |  | 500 | 591 |
| Water Dev. Auth., Water Dev. Rev. Bonds, Series 2013-A, 5.00% 6/1/2023 |  | 215 | 217 |
|  |  |  | **48855** |
| **Oklahoma 0.31%** |  |  |  |
| Capital Improvement Auth., State Highways Capital Improvement Rev. Ref. Bonds (Oklahoma Dept. of Transportation Project), Series 2020-A, 5.00% 7/1/2023 |  | 1335 | 1349 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2022-A, 5.00% 3/1/2052 |  | 3280 | 3489 |
| Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 9/1/2024 |  | 275 | 286 |
| Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 9/1/2025 |  | 420 | 449 |
| Tulsa County Independent School Dist. No. 1, Combined Purpose G.O. Bonds, Series 2021-B, 2.00% 9/1/2026 |  | 2000 | 1965 |
|  |  |  | **7538** |
| **Oregon 0.95%** |  |  |  |
| Dept. of Administrative Services, State Lottery Rev. Bonds, Series 2015-A, 5.00% 4/1/2026 |  | 1420 | 1502 |
| G.O. Bonds (Article XI-Q State Projects), Series 2017-A, 5.00% 5/1/2027 |  | 3000 | 3348 |
| G.O. Bonds (Veteran's Welfare Bonds Series 96), Series 2015-Q, 4.00% 12/1/2045 |  | 1140 | 1146 |
| G.O. Bonds (Veteran's Welfare Bonds Series 99B), Series 2017-Q, 3.50% 12/1/2047 |  | 960 | 959 |
| G.O. Bonds (Veteran's Welfare Bonds Series 108), Series 2021-O, 3.00% 12/1/2051 |  | 2755 | 2704 |
| G.O. Bonds (Veteran's Welfare Bonds Series 109), Series 2022-D, 5.00% 12/1/2052 |  | 1795 | 1912 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (The Susan Emmons Apartments Project), Series 2021-S-2, 0.38% 6/1/2024 (put 12/1/2023) |  | 1095 | 1063 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Westwind Apartments Project), Series 2021-H, 0.25% 3/1/2024 (put 3/1/2023) |  | 480 | 479 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2016-A, 4.00% 1/1/2047 |  | 275 | 277 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2017-A, 4.00% 7/1/2047 |  | 1475 | 1485 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2020-A, 3.50% 1/1/2051 |  | 795 | 796 |

---

<br> 24 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Oregon (continued)** |  |  |  |
| Housing and Community Services Dept., Multi Family Housing Dev. Rev. Bonds (Plaza Los Amigos Apartments Project), Series 2022-T-2, 3.00% 2/1/2026 (put 2/1/2025) | USD | 1080 | $1067 |
| City of Portland, Water System Rev. and Rev. Ref. Bonds, Series 2021-B, 5.00% 5/1/2031 |  | 1000 | 1205 |
| City of Portland, Water System Rev. Bonds, Series 2019-A, 5.00% 5/1/2030 |  | 1480 | 1736 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 25-B, AMT, 5.00% 7/1/2023 |  | 1000 | 1008 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 25-B, AMT, 5.00% 7/1/2024 |  | 1750 | 1799 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-C, AMT, 5.00% 7/1/2025 |  | 800 | 838 |
|  |  |  | **23324** |
| **Pennsylvania 2.77%** |  |  |  |
| County of Berks, G.O. Bonds, Series 2015, 4.00% 11/15/2027 (preref. 11/15/2023) |  | 170 | 172 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2030 (put 11/1/2025)<sup>2</sup> |  | 510 | 497 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 7/1/2031 (put 11/1/2025)<sup>2</sup> |  | 675 | 658 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2032 (put 11/1/2025)<sup>2</sup> |  | 535 | 521 |
| Central Dauphin School Dist., G.O. Bonds, Series 2016, 5.00% 2/1/2027 (preref. 8/1/2026) |  | 995 | 1089 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Diakon Lutheran Social Ministries Project), Series 2015, 5.00% 1/1/2038 (preref. 1/1/2025) |  | 2465 | 2585 |
| Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 11/15/2032 (preref. 11/15/2023) |  | 205 | 209 |
| Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 11/15/2034 (preref. 11/15/2023) |  | 175 | 178 |
| Econ. Dev. Fncg. Auth., Pollution Control Rev. Ref. Bonds (PPL Electric Utilities Corp. Project), Series 2008, 0.40% 10/1/2023 |  | 1800 | 1761 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2023 |  | 610 | 614 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2025 |  | 2225 | 2304 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009, 0.95% 12/1/2033 (put 12/1/2026) |  | 5000 | 4444 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.58% 8/1/2037 (put 8/1/2024) |  | 1200 | 1141 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2017-A, 5.00% 11/15/2023 |  | 1000 | 1017 |
| County of Erie, Erie City Water Auth., Water Rev. Bonds, Series 2016, 5.00% 12/1/2043 (preref. 12/1/2026) |  | 1200 | 1326 |
| General Auth. of Southcentral Pennsylvania, Rev. Bonds (Wellspan Health Obligated Group), Series 2019-B, (SIFMA Municipal Swap Index + 0.60%) 2.26% 6/1/2049 (put 6/1/2024)<sup>2</sup> |  | 2720 | 2711 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2026 |  | 95 | 101 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2027 |  | 525 | 566 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2030 |  | 400 | 443 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-128-A, AMT, 4.75% 4/1/2033 |  | 825 | 837 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-123-A, AMT, 4.00% 4/1/2039 |  | 425 | 425 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2015-117-A, AMT, 3.50% 4/1/2040 |  | 375 | 374 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2015-118-A, AMT, 3.50% 4/1/2040 |  | 660 | 659 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-119, 3.50% 10/1/2041 |  | 140 | 140 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-120, 3.50% 10/1/2046 |  | 205 | 205 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 10/1/2046 |  | 2505 | 2520 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 10/1/2050 |  | 3195 | 3154 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-132-A, 3.50% 4/1/2051 |  | 805 | 804 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 3.00% 10/1/2051 |  | 945 | 933 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 10/1/2051 |  | 840 | 819 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-138-A, 3.00% 10/1/2052 |  | 1530 | 1490 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2023-141-A, 5.75% 10/1/2053 |  | 6905 | 7638 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Harrison Senior Tower), Series 2021, 0.25% 6/1/2024 (put 6/1/2023) |  | 3265 | 3225 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (School of Nursing), Series 2021, 0.27% 8/1/2024 (put 8/1/2023) |  | 3375 | 3314 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 5.00% 7/1/2025 |  | 1200 | 1263 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2030 |  | 800 | 940 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2031 |  | 780 | 933 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2028 |  | 1265 | 1414 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2026 |  | 1000 | 1080 |

---

<br> American Funds Tax-Exempt Funds 25

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2027 | USD | 600 | $659 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2028 |  | 365 | 408 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2029 |  | 1080 | 1225 |
| City of Pittsburgh, Water and Sewer Auth., Water and Sewer System Rev. Ref. Bonds, Series 2017-C, Assured Guaranty Municipal insured, 2.31% 9/1/2040 (put 12/1/2023)<sup>2</sup> |  | 3935 | 3932 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2025 |  | 500 | 538 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2026 |  | 400 | 440 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2027 |  | 1000 | 1116 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 12/1/2029 |  | 1000 | 1153 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2017-A-2, 5.00% 12/1/2024 |  | 485 | 507 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2016, 5.00% 6/1/2026 |  | 3000 | 3210 |
| Wilkes-Barre Area School Dist., G.O. Bonds, Series 2019, BAM insured, 5.00% 4/15/2023 |  | 225 | 226 |
|  |  |  | **67918** |
| **Puerto Rico 0.02%** |  |  |  |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2028 |  | **380** | **418** |
| **Rhode Island 0.36%** |  |  |  |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 68-C, AMT, 3.50% 4/1/2039 |  | 300 | 299 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 69-B, 4.00% 10/1/2048 |  | 525 | 531 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 75-A, 3.00% 10/1/2051 |  | 4780 | 4707 |
| Housing and Mortgage Fin. Corp., Multi Family Dev. Bonds, Series 2021-A-1, 0.45% 10/1/2040 (put 10/1/2023) |  | 435 | 435 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2017-A, AMT, 5.00% 12/1/2023 |  | 650 | 661 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2017-A, AMT, 5.00% 12/1/2024 |  | 2100 | 2174 |
|  |  |  | **8807** |
| **South Carolina 1.24%** |  |  |  |
| City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Colonel Bluffs Apartments Project), Series 2022-B, 1.25% 8/1/2025 (put 8/1/2024) |  | 5395 | 5226 |
| City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Palmetto Terrace Apartments Project), Series 2021, 0.31% 6/1/2024 (put 6/1/2023) |  | 1250 | 1235 |
| City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2019-A, 4.00% 2/1/2024 |  | 500 | 508 |
| City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2019-A, 4.00% 2/1/2025 |  | 525 | 543 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-A, 4.00% 1/1/2047 |  | 935 | 940 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-B, 4.00% 7/1/2047 |  | 130 | 131 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2018-A, 4.50% 7/1/2048 |  | 995 | 1016 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 7/1/2050 |  | 1535 | 1561 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 725 | 713 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-B, 3.25% 1/1/2052 |  | 1750 | 1740 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-A, 4.00% 1/1/2052 |  | 880 | 899 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 7/1/2036 |  | 190 | 191 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (James Lewis, Jr. Eastside Apartments), Series 2021-B, 0.30% 9/1/2024 (put 3/1/2024) |  | 2175 | 2092 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Villages at Congaree Pointe Project), Series 2021-B, 1.25% 6/1/2025 (put 6/1/2024) |  | 970 | 943 |
| Ports Auth., Rev. Bonds, Series 2015, AMT, 5.25% 7/1/2055 (preref. 7/1/2025) |  | 2000 | 2110 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2024 |  | 700 | 728 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2014-C, 5.00% 12/1/2025 |  | 120 | 125 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2028 |  | 280 | 294 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2029 |  | 85 | 95 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2031 |  | 2015 | 2130 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2033 |  | 1050 | 1102 |
| City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Connecticut Village Apartments), Series 2022, 1.05% 8/1/2025 (put 8/1/2023) |  | 1025 | 1005 |
| City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Hickory Heights and Oakland Apartments Project), Series 2021, 0.29% 10/1/2024 (put 10/1/2023) |  | 3030 | 3003 |
| Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 4/15/2027 |  | 395 | 429 |
| Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 4/15/2028 |  | 1500 | 1651 |
|  |  |  | **30410** |

---

<br> 26 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **South Dakota 0.35%** |  |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2013-A, AMT, 3.00% 11/1/2030 | USD | 30 | $30 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-E, 4.00% 5/1/2044 |  | 220 | 221 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2013-E, AMT, 4.00% 11/1/2044 |  | 25 | 25 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2015-D, 4.00% 11/1/2045 |  | 285 | 286 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-D, 3.50% 11/1/2046 |  | 1580 | 1578 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 11/1/2048 |  | 1775 | 1814 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 11/1/2051 |  | 2315 | 2279 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 5/1/2053 |  | 2135 | 2271 |
|  |  |  | **8504** |
| **Tennessee 1.31%** |  |  |  |
| City of Chattanooga, Health, Educational and Housing Fac. Board, Collateralized Multi Family Housing Rev. Bonds (Battery Heights Apartments Project), Series 2021, 0.20% 8/1/2024 (put 8/1/2023) |  | 1200 | 1178 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-1-C, 3.00% 7/1/2038 |  | 30 | 30 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-1-A, AMT, 4.00% 7/1/2039 |  | 170 | 170 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2-B, 4.00% 1/1/2042 |  | 1260 | 1272 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 7/1/2042 |  | 1005 | 1013 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 7/1/2043 |  | 85 | 85 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-C, 4.00% 1/1/2045 |  | 280 | 281 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, 4.00% 7/1/2045 |  | 330 | 332 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, AMT, 4.00% 7/1/2045 |  | 215 | 215 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 4.00% 1/1/2046 |  | 395 | 397 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2016-1-B, 3.50% 1/1/2047 |  | 255 | 255 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-4, 3.50% 1/1/2050 |  | 4500 | 4509 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 3.75% 1/1/2050 |  | 465 | 469 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2022-2, 5.00% 1/1/2053 |  | 665 | 703 |
| County of Knox, Health, Educational and Housing Fac. Board, Multi Family Housing Rev. Bonds (Westview Towers Project), Series 2022, 3.95% 12/1/2027 |  | 3090 | 3144 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Rev. Bonds (Austin 1B Apartments Project), Series 2021, 0.22% 10/1/2024 (put 10/1/2023) |  | 1245 | 1213 |
| City of Memphis, Health, Educational and Housing Facs. Board, Collateralized Multi Family Housing Rev. Bonds (Tillman Cove Apartments), Series 2020, 0.55% 12/1/2024 (put 6/1/2024) |  | 3725 | 3563 |
| City of Memphis and County of Shelby, Airport Auth., Airport Rev. Bonds, Series 2021-A, AMT, 5.00% 7/1/2025 |  | 1000 | 1044 |
| Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2021-A, 5.00% 7/1/2031 |  | 415 | 469 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2026 |  | 560 | 597 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2028 |  | 375 | 413 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2029 |  | 1915 | 2132 |
| Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 5/1/2052 (put 11/1/2031) |  | 1000 | 1073 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2018, 4.00% 11/1/2049<sup>2</sup> |  | 7385 | 7422 |
|  |  |  | **31979** |
| **Texas 11.09%** |  |  |  |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2024 |  | 1000 | 1027 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse Bonds, Series 2014-B, 0.45% 2/15/2036 (put 8/15/2023) |  | 1730 | 1702 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2024 |  | 215 | 219 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2025 |  | 175 | 182 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2026 |  | 110 | 115 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Harmony Public Schools), Series 2016-A, 5.00% 2/15/2024 |  | 310 | 318 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2025 |  | 800 | 851 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2023 |  | 390 | 395 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2024 |  | 405 | 415 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2025 |  | 425 | 443 |

---

<br> American Funds Tax-Exempt Funds 27

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2026 | USD | 440 | $464 |
| City of Arlington, Water and Wastewater System Rev. Bonds, Series 2021, 5.00% 6/1/2023 |  | 115 | 116 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2029 |  | 1000 | 1162 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Bridge at Turtle Creek Apartments), Series 2020, 0.42% 12/1/2040 (put 12/1/2023) |  | 3855 | 3749 |
| Austin Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/1/2027 |  | 1000 | 1120 |
| Austin Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/1/2028 |  | 1000 | 1145 |
| City of Austin, Airport System Rev. Bonds, Series 2022, AMT, 5.00% 11/15/2026 |  | 2820 | 3027 |
| City of Austin, Airport System Rev. Bonds, Series 2022, AMT, 5.00% 11/15/2027 |  | 2000 | 2184 |
| City of Austin, Airport System Rev. Ref. Bonds, Series 2019, AMT, 5.00% 11/15/2025 |  | 1370 | 1447 |
| Azle Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2024 |  | 1035 | 1063 |
| Barbers Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2026 |  | 1735 | 1876 |
| County of Bexar, Combination Tax and Rev. Certs. of Obligation, Series 2013-B, 5.00% 6/15/2033 (preref. 6/15/2023) |  | 105 | 106 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2023 |  | 1500 | 1501 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2024 |  | 1000 | 1026 |
| Birdville Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2023 |  | 1275 | 1276 |
| Boerne Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2027 |  | 1200 | 1325 |
| Cameron County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Sunland Country Apartments), Series 2021, 0.28% 2/1/2024 (put 8/1/2023) |  | 2025 | 1989 |
| Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, 0.41% 1/1/2041 (put 1/1/2024) |  | 3220 | 3118 |
| Carroll Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2019-A, 5.00% 2/15/2024 |  | 645 | 663 |
| Carroll Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2019-A, 5.00% 2/15/2025 |  | 1485 | 1564 |
| Carrollton-Farmers Branch Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2023 |  | 1135 | 1136 |
| Clear Creek Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B, 0.28% 2/15/2038 (put 8/15/2024) |  | 835 | 795 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2023 |  | 60 | 61 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2024 |  | 65 | 67 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2025 |  | 75 | 80 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2026 |  | 410 | 446 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2027 |  | 200 | 222 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2028 |  | 40 | 45 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (International Leadership of Texas, Inc.), Series 2021, 4.00% 8/15/2023 |  | 90 | 91 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (International Leadership of Texas, Inc.), Series 2021, 4.00% 8/15/2024 |  | 115 | 118 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (International Leadership of Texas, Inc.), Series 2021, 4.00% 8/15/2025 |  | 160 | 167 |
| College Station Independent School Dist., Tax Rev. Ref. Bonds, Series 2017, 5.00% 8/15/2027 |  | 2000 | 2244 |
| Collin County Community College Dist., G.O. Bonds, Series 2020-A, 5.00% 8/15/2025 |  | 1000 | 1069 |
| Coppell Independent School Dist., Unlimited Tax School Building Bonds, Series 2014, 4.00% 8/15/2044 (preref. 8/15/2023) |  | 1470 | 1483 |
| Corpus Christi Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016, 5.00% 8/15/2027 |  | 1000 | 1066 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2014-C, 5.00% 2/15/2027 |  | 1625 | 1666 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2015-B-2, 0.28% 2/15/2040 (put 8/15/2024) |  | 1800 | 1713 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2015-A, 5.00% 10/1/2023 |  | 1630 | 1658 |
| Dallas Area Rapid Transit Sales Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 12/1/2031 |  | 1100 | 1152 |
| Dallas Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 2/15/2030 (preref. 2/15/2025) |  | 1000 | 1052 |
| Dallas Independent School Dist., Unlimited Tax School Building Bonds, Series 2016-A, 5.00% 2/15/2027 |  | 1000 | 1054 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2026 |  | 1260 | 1365 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2027 |  | 2000 | 2224 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2028 |  | 545 | 620 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Estates at Shiloh), Series 2019, 1.75% 7/1/2037 (put 7/1/2023) |  | 2685 | 2666 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Highpoint at Wynnewood), Series 2022, 3.50% 2/1/2044 (put 2/1/2026) |  | 580 | 584 |

---

<br> 28 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Midpark Towers), Series 2021, 0.35% 1/1/2024 (put 7/1/2023) | USD | 1775 | $1749 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2024 |  | 300 | 312 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 8/15/2024 |  | 400 | 415 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2025 |  | 210 | 223 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 8/15/2025 |  | 315 | 335 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2026 |  | 335 | 364 |
| Del Valle Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 6/15/2026 |  | 1000 | 1093 |
| Denton County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Pathway on Woodrow Apartments), Series 2022, 5.00% 2/1/2026 (put 2/1/2025) |  | 1155 | 1198 |
| El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2023 |  | 1000 | 1014 |
| El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 8/15/2026 |  | 400 | 416 |
| Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2027 |  | 330 | 364 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2024 |  | 1000 | 1040 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 8/1/2051 (put 8/1/2026) |  | 3310 | 2997 |
| Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020-B, 0.875% 8/1/2050 (put 8/1/2025) |  | 7175 | 6785 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2021-A, 5.00% 2/15/2023 |  | 1750 | 1752 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2026 |  | 500 | 542 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2027 |  | 1000 | 1109 |
| Friendswood Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 2.00% 2/15/2023 |  | 700 | 700 |
| G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 8/1/2030 |  | 560 | 582 |
| Galveston Public Fac. Corp., Multi Family Housing Rev. Bonds (The Orleanders at Broadway), Series 2021, 0.47% 8/1/2025 (put 8/1/2024) |  | 1425 | 1361 |
| City of Garland, Tax and Rev. Certs. of Obligation, Series 2021, 5.00% 2/15/2024 |  | 315 | 323 |
| Garland Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2023 |  | 115 | 115 |
| Garland Independent School Dist., Unlimited Tax School Building Bonds, Series 2016, 5.00% 2/15/2030 |  | 1000 | 1049 |
| City of Georgetown, Utility System Rev. Bonds, Series 2022, Assured Guaranty Municipal insured, 5.00% 8/15/2026 |  | 1000 | 1085 |
| Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2027 |  | 1125 | 1247 |
| Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B, 0.60% 2/15/2035 (put 8/17/2026) |  | 810 | 756 |
| Harlandale Independent School Dist., Maintenance Tax Notes, Series 2021, BAM insured, 2.00% 8/15/2040 (put 8/15/2024) |  | 455 | 450 |
| Harlandale Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 0.75% 8/15/2045 (put 8/15/2025) |  | 2365 | 2264 |
| Harlingen Consolidated Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2024 |  | 1000 | 1039 |
| County of Harris, Metropolitan Transit Auth., Sales and Use Tax Contractual Obligations, Series 2015-B, 5.00% 11/1/2025 |  | 345 | 371 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2024 |  | 150 | 156 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2019-C-2, (SIFMA Municipal Swap Index + 0.57%) 2.23% 12/1/2049 (put 12/4/2024)<sup>2</sup> |  | 5000 | 4969 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2019-A, 5.00% 10/1/2028 |  | 3000 | 3408 |
| Harris County Cultural Education Facs. Fin. Corp., Medical Facs. Mortgage Rev. Ref. Bonds (Baylor College of Medicine), Series 2019-A, (3-month USD-LIBOR x 0.70 + 0.65%) 3.708% 11/15/2046 (put 7/1/2024)<sup>2</sup> |  | 1385 | 1389 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Bonds (Texas Medical Center), Series 2020-A, 0.90% 5/15/2050 (put 5/15/2025) |  | 1205 | 1137 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 5.00% 11/15/2024 |  | 1325 | 1385 |
| Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (CHRISTUS Health), Series 2005-A-4, Assured Guaranty Municipal insured, 3.39% 7/1/2031<sup>2</sup> |  | 100 | 100 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Corona Del Valle), Series 2021, 0.37% 8/1/2025 (put 8/1/2023) |  | 3235 | 3178 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Palladium Simpson Stuart Apartments), Series 2021, 0.35% 1/1/2025 (put 1/1/2024) |  | 1660 | 1607 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 2360 | 2322 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2018-A, 4.75% 3/1/2049 |  | 925 | 947 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 3/1/2050 |  | 2630 | 2680 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 3/1/2051 |  | 730 | 732 |

---

<br> American Funds Tax-Exempt Funds 29

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 | USD | 6470 | $6362 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-B, 6.00% 3/1/2053 |  | 2050 | 2329 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021, 0.50% 8/1/2041 (put 3/1/2025) |  | 2445 | 2267 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 7/1/2027 |  | 1000 | 1085 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 2.00% 11/15/2024 |  | 615 | 610 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2023 |  | 65 | 66 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2024 |  | 45 | 46 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2025 |  | 40 | 41 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2023 |  | 550 | 557 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2024 |  | 575 | 596 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2025 |  | 445 | 469 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2026 |  | 320 | 344 |
| Houston Housing Fin. Corp., Multi Family Housing Rev. Bonds (Temenos Place Apartments), Series 2021, 0.29% 8/1/2024 (put 8/1/2023) |  | 775 | 761 |
| Humble Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2028 |  | 1000 | 1134 |
| Humble Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2029 |  | 1215 | 1407 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 8/1/2024 |  | 1000 | 1039 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2015, 2.00% 2/1/2055 (put 8/1/2025) |  | 2000 | 1962 |
| Jacksonville Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2025 |  | 2240 | 2362 |
| Keller Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 2/15/2027 (preref. 2/15/2025) |  | 1470 | 1550 |
| Kilgore Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2026 |  | 435 | 470 |
| Lamar Consolidated Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2015, 5.00% 2/15/2024 |  | 2000 | 2053 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2022, Assured Guaranty Municipal insured, 5.00% 5/15/2027 |  | 1000 | 1114 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2015, Assured Guaranty Municipal insured, 4.00% 5/15/2033 |  | 1000 | 1018 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (Central Power and Light Co. Project), Series 1996, AMT, 0.90% 5/1/2030 (put 9/1/2023) |  | 1110 | 1088 |
| Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 0.82% 2/15/2051 (put 2/15/2026) |  | 835 | 770 |
| Midland County Public Fac. Corp., Multi Family Housing Rev. Bonds (Palladium at West Francis), Series 2020, 0.35% 6/1/2024 (put 6/1/2023) |  | 2500 | 2470 |
| Midland Independent School Dist., Unlimited Tax School Building Bonds, Series 2014, 5.00% 2/15/2037 (preref. 2/15/2023) |  | 1000 | 1001 |
| Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 12/15/2026 |  | 935 | 994 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2025 |  | 1480 | 1537 |
| Nacogdoches Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2027 |  | 985 | 1090 |
| City of New Braunfels, Utility System Rev. Ref. Bonds, Series 2021, 5.00% 7/1/2023 |  | 1000 | 1011 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Galveston I, LLC - Texas A&M University at Galveston Project), Series 2014-A, 4.75% 4/1/2046 (preref. 4/1/2024) |  | 1295 | 1325 |
| North Central Texas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Bluebonnet Ridge Apartments), Series 2021, 0.375% 8/1/2040 (put 8/1/2024) |  | 620 | 588 |
| North East Independent School Dist., Unlimited Tax School Building Bonds, Series 2022-C, 2.05% 8/1/2046 (put 8/1/2023) |  | 5335 | 5311 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2014-A, 5.00% 1/1/2024 (escrowed to maturity) |  | 515 | 527 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2026 |  | 2450 | 2501 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 0.70% 6/1/2050 (put 6/1/2025) |  | 5000 | 4722 |
| Odessa Housing Fin. Corp., Multi Family Housing Rev. Bonds (Cove in Odessa Apartments), Series 2021, 0.37% 2/1/2024 (put 9/1/2023) |  | 2125 | 2076 |
| Pasadena Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2013, 5.00% 2/15/2038 |  | 3810 | 3813 |

---

<br> 30 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Plainview Independent School Dist., Unlimited Tax School Building Bonds, Series 2020-A, 5.00% 2/15/2023 | USD | 1795 | $1797 |
| Plano Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2023 |  | 1145 | 1146 |
| Plano Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2026 |  | 3000 | 3247 |
| Plano Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 2/15/2027 |  | 2375 | 2633 |
| Prosper Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B, 2.00% 2/15/2050 (put 8/15/2023) |  | 6355 | 6314 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2024 |  | 200 | 205 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2025 |  | 250 | 262 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2026 |  | 260 | 280 |
| Round Rock Independent School Dist., Unlimited Tax School Building Bonds, Series 2016, 5.00% 8/1/2027 |  | 1535 | 1640 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015-D, 1.125% 12/1/2045 (put 12/1/2026) |  | 1990 | 1783 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2013, 5.00% 2/1/2048 (preref. 2/1/2023) |  | 900 | 900 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2023 |  | 1005 | 1005 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2025 |  | 1730 | 1819 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2015, 5.00% 2/1/2026 |  | 1400 | 1511 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2027 |  | 90 | 99 |
| City of San Antonio, Passenger Fac. Charge and Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 7/1/2024 |  | 1000 | 1027 |
| San Antonio Housing Trust Fin. Corp., Multi Family Housing Rev. Bonds (The Arbors at West Avenue Apartments), Series 2022, 1.45% 3/1/2026 (put 3/1/2025) |  | 690 | 664 |
| San Antonio Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020-B, 5.00% 8/15/2026 |  | 1925 | 2111 |
| San Jacinto Community College Dist., Limited Tax G.O. Building Bonds, Series 2021, 5.00% 2/15/2026 |  | 1000 | 1083 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2022-E, 5.00% 11/15/2052 (put 5/15/2026) |  | 4235 | 4516 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2022-F, 5.00% 11/15/2052 (put 11/15/2030) |  | 1620 | 1852 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Christus Health), Series 2022-A, 5.00% 7/1/2053 (put 7/1/2032) |  | 3510 | 4026 |
| Texas City Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2024 |  | 1400 | 1456 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2023 |  | 640 | 641 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2024 |  | 220 | 226 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B-1, 0.45% 2/15/2036 (put 8/15/2023) |  | 2675 | 2632 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B-2, 0.26% 2/15/2039 (put 8/15/2024) |  | 1645 | 1565 |
| Transportation Commission, G.O. Mobility Fund Bonds, Series 2014-B, 0.65% 10/1/2041 (put 4/1/2026) |  | 5500 | 5028 |
| Transportation Commission, G.O. Mobility Fund Rev. Ref. Bonds, Series 2014-B, 5.00% 10/1/2026 |  | 1000 | 1030 |
| Travis County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Airport Gateway Apartments), Series 2022, 4.125% 6/1/2045 (put 6/1/2027) |  | 960 | 979 |
| Travis County Strategic Housing Fin. Corp., Multi Family Housing Rev. Bonds (Yager Flats), Series 2021, 0.46% 9/1/2041 (put 2/1/2025) |  | 11000 | 10325 |
| Trinity River Auth., Rev. Ref. Bonds (Tarrant County Water Project), Series 2015, 5.00% 2/1/2025 |  | 1005 | 1057 |
| Trinity River Public Fac. Corp., Multi Family Housing Rev. Bonds (Cowan Place Apartments), Series 2021, 0.28% 10/1/2024 (put 10/1/2023) |  | 2500 | 2438 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2017-A, 5.00% 4/15/2023 |  | 1000 | 1005 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2022-A, 5.00% 7/1/2028 |  | 3200 | 3666 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2022-A, 5.00% 7/1/2029 |  | 2550 | 2984 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2020-A, 5.00% 8/15/2030 |  | 4900 | 5847 |
| Waco Public Facs. Corp. II, Multi Family Housing Rev. Bonds (Trendwood Apartments), Series 2022, 3.50% 8/1/2025 (put 8/1/2024) |  | 4928 | 4944 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2020, 5.00% 8/1/2024 |  | 750 | 779 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2020, 5.00% 8/1/2027 |  | 2380 | 2664 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2020, 5.00% 8/1/2027 |  | 1970 | 2205 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-B, 5.00% 4/15/2023 |  | 45 | 45 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2019-A, 5.00% 10/15/2024 |  | 1990 | 2079 |
|  |  |  | **271473** |

---

<br> American Funds Tax-Exempt Funds 31

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Utah 1.04%** |  |  |  |
| Housing Corp., Multi Family Housing Rev. Bonds (Fellowship Manor Apartments), Series 2022, 2.00% 10/1/2024 (put 10/1/2023) | USD | 5000 | $4971 |
| Housing Corp., Multi Family Housing Rev. Bonds (New City Plaza Apartments Project), Series 2021, 3.50% 8/1/2025 (put 8/1/2024) |  | 9836 | 9852 |
| Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 1/1/2045 |  | 135 | 136 |
| Jordan Valley Water Conservancy Dist., Water Rev. and Rev. Ref. Bonds, Series 2021-A, 5.00% 10/1/2023 |  | 1100 | 1119 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 7/1/2024 |  | 275 | 284 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2026 |  | 2250 | 2396 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2017-A, AMT, 5.00% 7/1/2029 |  | 800 | 863 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2029 |  | 1500 | 1667 |
| County of Salt Lake, Board of Education, G.O. Rev. Ref. Bonds (Utah School Bond Guaranty Act), Series 2021, 5.00% 6/1/2024 |  | 2390 | 2475 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2025 |  | 235 | 248 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2026 |  | 400 | 431 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2027 |  | 320 | 352 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2029 |  | 130 | 148 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2030 |  | 305 | 352 |
| Transit Auth., Sales Tax Rev. Bonds, Series 2008-A, 5.25% 6/15/2023 |  | 110 | 111 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2024 |  | 155 | 160 |
|  |  |  | **25565** |
| **Vermont 0.02%** |  |  |  |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2014-A, AMT, 4.00% 11/1/2044 |  | 120 | 120 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2020-A, 3.75% 11/1/2050 |  | 320 | 322 |
|  |  |  | **442** |
| **Virginia 1.80%** |  |  |  |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 7/1/2025 |  | 1000 | 1051 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2013-A, 4.50% 2/1/2033 (preref. 2/1/2023) |  | 3735 | 3735 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2013-A, 4.50% 2/1/2034 (preref. 2/1/2023) |  | 1950 | 1950 |
| Commonwealth Transportation Board, Transportation Capital Projects Rev. Bonds, Series 2018, 5.00% 5/15/2027 |  | 3105 | 3472 |
| County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Arrowbrook Apartments Project), Series 2020, 0.41% 1/1/2041 (put 1/1/2024) |  | 8000 | 7696 |
| County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Oakwood North Four Project), Series 2021, 0.41% 5/1/2025 (put 5/1/2024) |  | 5000 | 4787 |
| G.O. Bonds, Series 2016-B, 5.00% 6/1/2027 |  | 6790 | 7398 |
| County of Henrico, Water & Sewer Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 5/1/2046 (preref. 5/1/2026) |  | 2000 | 2175 |
| City of Hopewell, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hopewell Heights Apartments), Series 2021-A, 0.49% 12/1/2024 (put 12/1/2023) |  | 815 | 792 |
| County of Loudoun, Econ. Dev. Auth., Multi Family Housing Rev. Bonds (The View at Broadlands Project), Series 2022, 2.00% 4/1/2025 (put 4/1/2024) |  | 2495 | 2468 |
| County of Loudoun, Econ. Dev. Auth., Public Fac. Rev. and Rev. Ref. Bonds (Loudoun County Public Facs. Project), Series 2021-A, 5.00% 12/1/2023 |  | 2375 | 2427 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 4.00% 1/1/2027 |  | 850 | 879 |
| City of Norfolk, G.O. Capital Improvement Bonds, Series 2019, 5.00% 8/1/2044 (preref. 8/1/2028) |  | 1000 | 1149 |
| Port Auth., Port Facs. Rev. Ref. Bonds, Series 2015, AMT, 5.00% 7/1/2039 (preref. 7/1/2025) |  | 1000 | 1055 |
| Public Building Auth., Public Facs. Rev. Ref. Bonds, Series 2020-B, 5.00% 8/1/2027 |  | 2250 | 2533 |

---

<br> 32 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2026 | USD | 235 | $223 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2023 |  | 30 | 30 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2025 |  | 230 | 221 |
|  |  |  | **44041** |
| **Washington 1.52%** |  |  |  |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 5.00% 11/1/2028 |  | 65 | 75 |
| Central Puget Sound Regional Transit Auth., Sales Tax Improvement Green Bonds, Series 2015-S-2B, (SIFMA Municipal Swap Index + 0.45%) 2.11% 11/1/2045 (put 11/1/2023)<sup>2</sup> |  | 2150 | 2150 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 3), Series 2018-C, 5.00% 7/1/2023 |  | 2860 | 2891 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 3), Series 2016-A, 5.00% 7/1/2026 |  | 1075 | 1175 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 3), Series 2018-C, 5.00% 7/1/2026 |  | 1965 | 2149 |
| City of Everett, Housing Auth., Multi Family Housing Rev. Bonds (Baker Heights Legacy), Series 2021, 0.30% 9/1/2024 (put 9/1/2023) |  | 770 | 754 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Garten Haus Apartments Project), Series 2021, 0.37% 7/1/2024 (put 7/1/2023) |  | 460 | 453 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (HopeSource III Portfolio Projects), Series 2022, 1.25% 1/1/2025 (put 1/1/2024) |  | 2210 | 2162 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2014-2A-R, AMT, 3.50% 6/1/2044 |  | 120 | 120 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2017-1-N, 4.00% 12/1/2047 |  | 745 | 750 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2018-1-N, 4.00% 12/1/2048 |  | 1945 | 1966 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2019-1-N, 4.00% 6/1/2049 |  | 485 | 490 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-2-N, 3.00% 12/1/2050 |  | 275 | 271 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 4.00% 12/1/2050 |  | 1830 | 1859 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051 |  | 765 | 752 |
| Housing Fin. Commission, Single Family Program Rev. Ref. Bonds, Series 2022-1-N, 5.00% 12/1/2052 |  | 750 | 805 |
| Motor Vehicle Fuel Tax G.O. Rev. Ref. Bonds, Series R-2022-D, 4.00% 7/1/2027 |  | 4000 | 4313 |
| Northshore School Dist., Unlimited Tax G.O. Rev. Ref. Bonds, Series 2022, 5.00% 12/1/2029 |  | 400 | 471 |
| City of Seattle, Housing Auth., Rev. and Rev. Ref. Bonds (Northgate Plaza Project), Series 2021, 1.00% 6/1/2026 |  | 680 | 629 |
| City of Seattle, Housing Auth., Rev. Bonds (Lam Bow Apartments Project), Series 2021, 1.25% 6/1/2024 |  | 150 | 147 |
| City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2021-B, (SIFMA Municipal Swap Index + 0.25%) 1.91% 5/1/2045 (put 11/1/2026)<sup>2</sup> |  | 1090 | 1069 |
| City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2018-C-2, (SIFMA Municipal Swap Index + 0.49%) 2.15% 11/1/2046 (put 11/1/2023)<sup>2</sup> |  | 3400 | 3401 |
| City of Seattle, Water System Improvement and Rev. Ref. Bonds, Series 2021, 5.00% 8/1/2027 |  | 595 | 668 |
| Port of Seattle, Rev. Bonds, Series 2019, AMT, 5.00% 4/1/2023 |  | 1000 | 1004 |
| Port of Seattle, Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2029 |  | 4750 | 5316 |
| Tobacco Settlement Auth., Tobacco Settlement Rev. Ref. Bonds, Series 2013, 5.00% 6/1/2023 |  | 1000 | 1008 |
| University of Washington, General Rev. Ref. Bonds, Series 2020-C, 5.00% 4/1/2025 |  | 250 | 264 |
|  |  |  | **37112** |
| **West Virginia 0.29%** |  |  |  |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Appalachian Power Co. - Amos Project), Series 2011-A, AMT, 1.00% 1/1/2041 (put 9/1/2025) |  | 1310 | 1224 |
| G.O. State Road Bonds, Series 2021-A, 5.00% 12/1/2025 |  | 665 | 716 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Bonds (West Virginia University Health System Obligated Group), Series 2013-A, 5.375% 6/1/2038 (preref. 6/1/2023) |  | 1245 | 1257 |
| Housing Dev. Fund, Multi Family Housing Rev. Bonds (Parkland Place / Chapmanville Towers), Series 2021, 0.28% 4/1/2024 (put 4/1/2023) |  | 3875 | 3852 |
|  |  |  | **7049** |

---

<br> American Funds Tax-Exempt Funds 33

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin 1.43%** |  |  |  |
| G.O. Bonds, Series 2015-A, 5.00% 5/1/2031 (preref. 5/1/2023) | USD | 4085 | $4111 |
| G.O. Rev. Ref. Bonds, Series 2017-3, 5.00% 11/1/2027 |  | 1050 | 1173 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (SSM Health Care), Series 2018-B, 5.00% 6/1/2038 (put 6/1/2023) |  | 2700 | 2704 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-B-2, 5.00% 8/15/2054 (put 6/24/2026) |  | 1510 | 1627 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-3, 5.00% 8/15/2054 (put 6/24/2026) |  | 4845 | 5220 |
| Health and Educational Facs. Auth., Rev. Bonds (Agnesian HealthCare, Inc.), Series 2013-B, 5.00% 7/1/2024 (preref. 7/1/2023) |  | 1015 | 1026 |
| Health and Educational Facs. Auth., Rev. Bonds (Gundersen Lutheran), Series 2020, 5.00% 2/15/2026<sup>3</sup> |  | 4000 | 4156 |
| Health and Educational Facs. Auth., Rev. Bonds (Saint John's Communities, Inc. Project), Series 2018-A, 5.00% 9/15/2050 (preref. 9/15/2023) |  | 1000 | 1015 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2015-A, AMT, 4.00% 9/1/2045 |  | 60 | 60 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2016-A, AMT, 3.50% 3/1/2046 |  | 550 | 547 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 3/1/2048 |  | 495 | 498 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-B, 4.00% 3/1/2048 |  | 1195 | 1204 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-C, 4.00% 3/1/2050 |  | 1155 | 1170 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 9/1/2050 |  | 2390 | 2394 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 2290 | 2255 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-C, 3.00% 9/1/2052 |  | 815 | 802 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 5/1/2045 (put 11/1/2023) |  | 350 | 341 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.50% 11/1/2050 (put 11/1/2024) |  | 290 | 274 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-C, 0.81% 11/1/2052 (put 5/1/2025) |  | 1110 | 1057 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2025 |  | 60 | 60 |
| Public Fin. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-C, 4.00% 10/1/2041 (put 10/1/2030) |  | 1160 | 1228 |
| Public Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2016-A-3, AMT, 1.10% 7/1/2029 (put 6/1/2026) |  | 2380 | 2158 |
|  |  |  | **35080** |
| **Wyoming 0.33%** |  |  |  |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-3, 3.00% 12/1/2044 |  | 60 | 60 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 6/1/2045 |  | 265 | 265 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2021-1, 3.00% 6/1/2050 |  | 5155 | 5075 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2021-3, 3.00% 6/1/2050 |  | 795 | 785 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 12/1/2050 |  | 1020 | 1036 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2023-1, 5.75% 6/1/2053 |  | 865 | 957 |
|  |  |  | **8178** |
| **Total bonds, notes & other debt instruments** (cost: $2,104,303,000) |  |  | **2074361** |
| **Short-term securities 15.94%** |  |  |  |
| **Municipals 13.90%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-055, 1.87% 12/15/2028<sup>2,3</sup> |  | 2000 | 2000 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2013, AMT, 4.10% 12/1/2035 (put 11/1/2022)<sup>4</sup> |  | 15000 | 15000 |
| State of California, Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children's Hospital at Stanford), Series 2022-A, 5.00% 5/15/2023 |  | 550 | 554 |
| State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 8/1/2023 |  | 370 | 365 |
| State of California, City of Los Angeles, Dept. of Water and Power, Rev. Bonds, Series 2021-1, 0.40% 7/1/2050<sup>2</sup> |  | 400 | 400 |
| State of California, City of Los Angeles, Dept. of Water and Power, Water System Demand Rev. Bonds, Series 2001-B-4, 0.45% 7/1/2035<sup>2</sup> |  | 600 | 600 |
| State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 |  | 16000 | 16107 |
| State of California, County of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/30/2023 |  | 3500 | 3528 |
| State of California, Metropolitan Water Dist. of Southern California, Water Rev. Bonds, Series 2017-C, 1.80% 7/1/2047 (put 5/21/2024)<sup>2,4</sup> |  | 2440 | 2426 |

---

<br> 34 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2021-B, AMT, 3.60% 7/1/2051 (put 7/17/2023)<sup>4</sup> | USD | 8375 | $8381 |
| State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2020, AMT, 3.50% 10/1/2045 (put 3/1/2023)<sup>4</sup> |  | 1850 | 1850 |
| State of California, Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2017-A-1, AMT, 3.45% 11/1/2042 (put 4/17/2023)<sup>3,4</sup> |  | 14000 | 14004 |
| State of California, County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 |  | 5000 | 5054 |
| State of California, San Diego Unified School Dist., Tax and Rev. Anticipation Notes, Series 2022-A, 4.00% 6/30/2023 |  | 2635 | 2652 |
| District of Columbia, Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Strand Residences Project), Series 2019, 2.50% 2/1/2039 (put 8/1/2023)<sup>4</sup> |  | 1000 | 996 |
| State of Florida, Dev. Fin. Corp., Rev. Bonds (Brightline Florida Passenger Rail Expansion Project), Series 2021-A, AMT, 2.90% 12/1/2056 (put 4/4/2023)<sup>4</sup> |  | 8440 | 8435 |
| State of Florida, City of Gainesville, Utilities System Rev. Bonds, Series 2019-C, 1.31% 10/1/2047<sup>2</sup> |  | 700 | 700 |
| State of Florida, Miami-Dade County School Dist., Tax Anticipation Notes, Series 2022, 4.00% 2/23/2023 |  | 5000 | 5004 |
| State of Idaho, Health Facs. Auth., Hospital Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-ID, 3.30% 12/1/2048 (put 2/1/2023)<sup>4</sup> |  | 5735 | 5734 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-B, Wells Fargo LOC, 1.25% 8/1/2044<sup>2</sup> |  | 3000 | 3000 |
| State of Illinois, Housing Dev. Auth., Rev. Bonds, Series 2022-H, 3.47% 10/1/2053 (put 12/1/2023)<sup>4</sup> |  | 5000 | 5019 |
| State of Indiana, Fin. Auth., Environmental Rev. Ref. Bonds (Duke Energy Indiana, Inc. Project), Series 2009-A-3, 1.75% 12/1/2039<sup>2</sup> |  | 30000 | 30000 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-E, 1.15% 2/15/2041<sup>2</sup> |  | 950 | 950 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-F, 1.15% 7/1/2041<sup>2</sup> |  | 11100 | 11100 |
| State of Michigan, Fin. Auth., State Aid Rev. Notes, Series 2022-A, 5.00% 8/21/2023 |  | 3000 | 3040 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 1.12% 4/1/2042<sup>2</sup> |  | 12865 | 12865 |
| State of Michigan, Regents of the University of Michigan, IAM Commercial Paper, Series 2009-B, 3.00% 2/17/2023 |  | 6000 | 6003 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2011-B, 1.65% 11/15/2038<sup>2</sup> |  | 5000 | 5000 |
| State of Minnesota, City of St. Paul, Housing and Redev. Auth., Health Care System Demand Rev. Bonds (Allina Health System), Series 2009-B-1, JPMorgan Chase LOC, 1.20% 11/15/2035<sup>2</sup> |  | 8500 | 8500 |
| State of Mississippi, County of Jackson, Port Fac. Rev. Ref. Bonds (Chevron U.S.A., Inc. Project), Series 1993, 1.20% 6/1/2023<sup>2</sup> |  | 10000 | 10000 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), Series 2003-B, 1.21% 2/15/2033<sup>2</sup> |  | 9500 | 9500 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), Series 2000-B, 1.20% 3/1/2040<sup>2</sup> |  | 500 | 500 |
| State of New Hampshire, National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2020-A-3, AMT, 3.50% 4/1/2024 (put 3/1/2023)<sup>4</sup> |  | 6745 | 6746 |
| State of New York, Dormitory Auth., Rev. Bonds (Cornell University), Series 2019-B, 1.16% 7/1/2039<sup>2</sup> |  | 7300 | 7300 |
| State of New York, New York City G.O. Bonds, Series 2005-E-3, 1.62% 8/1/2034<sup>2</sup> |  | 180 | 180 |
| State of New York, New York City G.O. Bonds, Series 2008-L-3, 1.25% 4/1/2036<sup>2</sup> |  | 800 | 800 |
| State of New York, New York City G.O. Bonds, Series 2012-G-6, 1.19% 4/1/2042<sup>2</sup> |  | 400 | 400 |
| State of New York, New York City G.O. Bonds, Series 2021-2, 1.60% 4/1/2042<sup>2</sup> |  | 195 | 195 |
| State of New York, New York City G.O. Bonds, Series 2021-3, 1.75% 4/1/2042<sup>2</sup> |  | 3000 | 3000 |
| State of New York, New York City G.O. Bonds, Series 2016-A-5, 1.25% 8/1/2044<sup>2</sup> |  | 1200 | 1200 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Rev. Bonds, Series 2003-F-2, 1.20% 6/15/2035<sup>2</sup> |  | 3320 | 3320 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2007-CC-1, 1.61% 6/15/2038<sup>2</sup> |  | 5000 | 5000 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-6, 1.25% 6/15/2048<sup>2</sup> |  | 2140 | 2140 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-1, 1.25% 6/15/2050<sup>2</sup> |  | 7170 | 7170 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-2, 1.25% 6/15/2050<sup>2</sup> |  | 4225 | 4225 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-B-4, 1.25% 8/1/2042<sup>2</sup> |  | 12000 | 12000 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-A-4, 1.13% 8/1/2043<sup>2</sup> |  | 1500 | 1500 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-3, 1.25% 2/1/2045<sup>2</sup> |  | 2350 | 2350 |

---

<br> American Funds Tax-Exempt Funds 35

American Funds Short-Term Tax-Exempt Bond Fund (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) |  | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |  |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>2</sup> | State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>2</sup> | USD | 900 | $900 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-E-4, 1.25% 2/1/2045<sup>2</sup> | State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-E-4, 1.25% 2/1/2045<sup>2</sup> |  | 6555 | 6555 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-4, 1.25% 8/1/2045<sup>2</sup> | State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-4, 1.25% 8/1/2045<sup>2</sup> |  | 2390 | 2390 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 1.19% 1/1/2039<sup>2</sup> | State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 1.19% 1/1/2039<sup>2</sup> |  | 570 | 570 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2019-F, 1.19% 1/1/2052<sup>2</sup> | State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2019-F, 1.19% 1/1/2052<sup>2</sup> |  | 8450 | 8450 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, 1.20% 5/1/2048<sup>2</sup> | State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, 1.20% 5/1/2048<sup>2</sup> |  | 13850 | 13850 |
| State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003, Bank of America LOC, 1.37% 1/1/2033<sup>2</sup> | State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003, Bank of America LOC, 1.37% 1/1/2033<sup>2</sup> |  | 2020 | 2020 |
| State of Texas, Gulf Coast Waste Disposal Auth., Environmental Facs. Rev. Bonds (Exxon Project), Series 2002, AMT, 1.25% 12/1/2025<sup>2</sup> | State of Texas, Gulf Coast Waste Disposal Auth., Environmental Facs. Rev. Bonds (Exxon Project), Series 2002, AMT, 1.25% 12/1/2025<sup>2</sup> |  | 2760 | 2760 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-A, 1.65% 5/15/2034<sup>2</sup> | State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-A, 1.65% 5/15/2034<sup>2</sup> |  | 12755 | 12755 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 1.66% 5/15/2034<sup>2</sup> | State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 1.66% 5/15/2034<sup>2</sup> |  | 10000 | 10000 |
| State of Texas, Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2020-B, AMT, 3.50% 7/1/2040 (put 3/1/2023)<sup>4</sup> | State of Texas, Mission Econ. Dev. Corp., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2020-B, AMT, 3.50% 7/1/2040 (put 3/1/2023)<sup>4</sup> |  | 4000 | 4000 |
| State of Texas, Board of Regents of the University of Texas System, IAM Commercial Paper, Series 2023-A, 2.08% 3/10/2023 | State of Texas, Board of Regents of the University of Texas System, IAM Commercial Paper, Series 2023-A, 2.08% 3/10/2023 |  | 5000 | 5000 |
| State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.52% 7/1/2037<sup>2</sup> | State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.52% 7/1/2037<sup>2</sup> |  | 6610 | 6610 |
| State of Texas, Board of Regents of the University of Texas System, Rev. Ref. Bonds, Series 2007-B, 1.58% 8/1/2033<sup>2</sup> | State of Texas, Board of Regents of the University of Texas System, Rev. Ref. Bonds, Series 2007-B, 1.58% 8/1/2033<sup>2</sup> |  | 5725 | 5725 |
| State of Virginia, College Building Auth., Educational Facs. Rev. Bonds (University of Richmond Project), Series 2006, 1.21% 11/1/2036<sup>2</sup> | State of Virginia, College Building Auth., Educational Facs. Rev. Bonds (University of Richmond Project), Series 2006, 1.21% 11/1/2036<sup>2</sup> |  | 2000 | 2000 |
|  |  |  |  | **340378** |
|  | Weighted<br> average yield<br> at acquisition |  |  |  |
| **U.S. Treasury bills 2.04%** |  |  |  |  |
| U.S. Treasury 2/7/2023<sup>5</sup> | 4.125% |  | **50000** | **49966** |
| **Total short-term securities** (cost: $390,353,000) |  |  |  | **390344** |
| **Total investment securities 100.66%** (cost: $2,494,656,000) |  |  |  | **2464705** |
| Other assets less liabilities (0.66%) |  |  |  | (16073) |
| **Net assets 100.00%** |  |  |  | $**2448632** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 1/31/2023<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Short | 195 | March 2023 | USD(40101) | $(60) |
| 5 Year U.S. Treasury Note Futures | Long | 3139 | March 2023 | 342911 | 2616 |
| 10 Year U.S. Treasury Note Futures | Long | 175 | March 2023 | 20040 | 96 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 278 | March 2023 | (33694) | (116) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 305 | March 2023 | (43234) | (1343) |
|  |  |  |  |  | $1193 |

---

<br> 36 American Funds Tax-Exempt Funds

American Funds Short-Term Tax-Exempt Bond Fund (continued)

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>3</sup> 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 $20,624,000, which represented .84% of the net assets of the fund.

<sup>4</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

<sup>5</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $436,000, which represented .02% of the net assets of the fund.

**Key to abbreviations**

Agcy. = Agency<br> AMT = Alternative Minimum Tax<br> Assn. = Association<br> Auth. = Authority<br> Certs. = Certificates<br> Dept. = Department<br> Dev. = Development<br> Dist. = District<br> Econ. = Economic<br> Fac. = Facility<br> Facs. = Facilities<br> Fin. = Finance<br> Fncg. = Financing<br> G.O. = General Obligation<br> IAM = Interest at Maturity<br> LIBOR = London Interbank Offered Rate<br> LOC = Letter of credit<br> Part. = Participation<br> Preref. = Prerefunded<br> Redev. = Redevelopment<br> Ref. = Refunding<br> Rev. = Revenue<br> SIFMA = Securities Industry and Financial Markets Association<br> SOFR = Secured Overnight Financing Rate<br> USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 37

---

| | |
|:---|:---|
| Limited Term Tax-Exempt Bond Fund of America | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_004.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund's investment policies. Securities in the "unrated" category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 87.12%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alabama 3.14%** |  |  |  |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 5.25% 2/1/2053 (put 6/1/2029) | USD | 26160 | $28072 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 4/1/2053 (put 10/1/2027) |  | 42500 | 42517 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 10/1/2052 (put 12/1/2026) |  | 20500 | 20542 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026) |  | 4950 | 4960 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 4), Series 2019-A, 4.00% 12/1/2049 (put 12/1/2025) |  | 7000 | 7025 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1, 4.00% 10/1/2049 (put 10/1/2026) |  | 6400 | 6421 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 6/1/2051 (put 12/1/2031) |  | 13570 | 13717 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027) |  | 21490 | 21890 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Capstone at Kinsey Cove Project), Series 2020-A, 0.35% 12/1/2023 (put 2/15/2023) |  | 6680 | 6671 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (ECG Monrovia Project), Series 2022-A, 2.00% 10/1/2025 (put 10/1/2024) |  | 20441 | 20143 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (Peppertree Place Project), Series 2022-C, 3.25% 11/1/2025 (put 11/1/2024) |  | 1575 | 1582 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2025 |  | 3000 | 3197 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2026 |  | 1000 | 1091 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2027 |  | 2000 | 2206 |
| City of Montgomery, Medical Clinic Board, Health Care Fac. Rev. Bonds (Jackson Hospital & Clinic), Series 2016, 5.00% 3/1/2023 |  | 1125 | 1127 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 1), Series 2021-A, 4.00% 11/1/2051 (put 10/1/2028) |  | 26495 | 26529 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put 12/1/2031) |  | 10720 | 10693 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 4), Series 2022-B-1, 5.00% 5/1/2053 (put 8/1/2028) |  | 5305 | 5562 |
|  |  |  | **223945** |
| **Alaska 0.64%** |  |  |  |
| Housing Fin. Corp., Collateralized Bonds (Veterans Mortgage Program), Series 2019, 4.00% 12/1/2048 |  | 7695 | 7770 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020, 1.95% 12/1/2033 |  | 1000 | 840 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2020-A, 3.25% 12/1/2044 |  | 20695 | 20557 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 3.50% 6/1/2046 |  | 1090 | 1089 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2022-C, 5.75% 12/1/2052 |  | 4275 | 4719 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2028 |  | 600 | 675 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2028 |  | 575 | 653 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2029 |  | 750 | 855 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2029 |  | 750 | 862 |

---

<br> 38 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alaska (continued)** |  |  |  |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 6/1/2030 | USD | 665 | $771 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2022-B, 5.00% 12/1/2030 |  | 665 | 777 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2014-A, 5.00% 12/1/2032 (preref. 12/1/2023) |  | 2700 | 2757 |
| Housing Fin. Corp., State Capital Project Bonds, Series 2014-A, 5.00% 12/1/2033 (preref. 12/1/2023) |  | 3400 | 3472 |
|  |  |  | **45797** |
| **Arizona 0.99%** |  |  |  |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 1/1/2028 |  | 4030 | 4574 |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 1/1/2029 |  | 3560 | 4132 |
| Agricultural Improvement and Power Dist., Electric System Rev. Ref. Bonds (Salt River Project), Series 2016-A, 5.00% 1/1/2026 |  | 1540 | 1665 |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2027 |  | 400 | 447 |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2028 |  | 550 | 629 |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2033 |  | 700 | 817 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.15% 7/1/2027 |  | 375 | 347 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.30% 7/1/2028 |  | 485 | 445 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.65% 7/1/2030 |  | 825 | 747 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.70% 7/1/2031 |  | 450 | 403 |
| Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-A, AMT, 1.875% 9/1/2032 (put 3/31/2023) |  | 3300 | 3293 |
| Coconino County Pollution Control Corp., Pollution Control Rev. Ref. Bonds, Series 2017-B, 1.65% 3/1/2039 (put 3/31/2023) |  | 1500 | 1497 |
| City of Glendale, Industrial Dev. Auth., Graduate and Professional Student Loan Program Rev. Bonds |  |  |  |
| (Midwestern University Foundation), Series 2021-A, AMT, 2.125% 7/1/2033 |  | 2275 | 1997 |
| City of Glendale, Water and Sewer Rev. Ref. Obligations, Series 2020, 5.00% 7/1/2030 |  | 1030 | 1222 |
| City of Glendale Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 5/15/2029 |  | 1000 | 1146 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, |  |  |  |
| National insured, 5.00% 11/1/2027 |  | 1125 | 1213 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, |  |  |  |
| National insured, 5.00% 11/1/2028 |  | 1175 | 1281 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, |  |  |  |
| National insured, 5.00% 11/1/2031 |  | 1050 | 1144 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 7/1/2028 |  | 120 | 131 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 7/1/2029 |  | 115 | 127 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 7/1/2030 |  | 130 | 145 |
| Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2021-A, 5.00% 7/1/2031 |  | 125 | 141 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2021-A, 5.00% 2/1/2029 |  | 1355 | 1556 |
| Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Las Terrazas Apartments Project), Series 2022-A, 1.25% 2/1/2025 (put 2/1/2024) |  | 4075 | 3988 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class A, 3.625% 5/20/2033 |  | 2356 | 2279 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 2/1/2024 |  | 1485 | 1520 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 5/1/2024 |  | 1515 | 1560 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 2/1/2025 |  | 1610 | 1694 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 5/1/2025 |  | 1640 | 1737 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 5/1/2026 |  | 1500 | 1631 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 8/1/2026 |  | 1560 | 1707 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2026 |  | 1350 | 1486 |
| Industrial Dev. Auth., Student Housing Rev. Bonds (Provident Group - NCCU Properties, LLC - North Carolina Central University Project), Series 2019-A, BAM insured, 5.00% 6/1/2025 |  | 400 | 420 |
| Industrial Dev. Auth., Student Housing Rev. Bonds (Provident Group - NCCU Properties, LLC - North Carolina Central University Project), Series 2019-A, BAM insured, 5.00% 6/1/2026 |  | 500 | 537 |
| Industrial Dev. Auth., Student Housing Rev. Bonds (Provident Group - NCCU Properties, LLC - North Carolina Central University Project), Series 2019-A, BAM insured, 5.00% 6/1/2027 |  | 400 | 437 |
| Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B, 4.50% 7/1/2024 (preref. 7/1/2023)<sup>1</sup> |  | 1010 | 1019 |
| Kyrene Elementary School Dist. No. 28, School Improvement Bonds (2010 Project), Series 2013-B, 4.50% 7/1/2025 (preref. 7/1/2023)<sup>1</sup> |  | 815 | 822 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2017-A, 5.00% 7/1/2027 |  | 745 | 804 |

---

<br> American Funds Tax-Exempt Funds 39

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2017-C, 5.00% 1/1/2048 (put 10/18/2024) | USD | 2000 | $2079 |
| County of Maricopa, Special Health Care Dist., G.O. Bonds, Series 2021-D, 5.00% 7/1/2027 |  | 2000 | 2230 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2024 |  | 1000 | 1027 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2031 |  | 4505 | 4999 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2028 |  | 2035 | 2223 |
| City of Phoenix Civic Improvement Corp., Water System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2024 |  | 1180 | 1224 |
| County of Pima, Sewer System Rev. and Rev. Ref. Obligations, Series 2022, 5.00% 7/1/2027 |  | 1135 | 1269 |
| County of Pima, Sewer System Rev. Obligations, Series 2020-B, 5.00% 7/1/2030 |  | 1000 | 1185 |
| Regional Public Transportation Auth., Transportation Excise Tax Rev. Ref. Bonds (Maricopa County Public Transportation Fund), Series 2019, 5.00% 7/1/2025 |  | 1540 | 1640 |
| County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.30% 6/1/2027 |  | 2625 | 2329 |
|  |  |  | **70945** |
| **California 6.98%** |  |  |  |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2035 |  | 650 | 408 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2006-C-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 9270 | 9275 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-A-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 100 | 100 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2018-A, 2.625% 4/1/2045 (put 4/1/2026) |  | 5000 | 4963 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2007-C-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2047 (put 5/1/2023)<sup>2</sup> |  | 3500 | 3502 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-D, (SIFMA Municipal Swap Index + 0.30%) 1.96% 4/1/2056 (put 4/1/2027)<sup>2</sup> |  | 4915 | 4780 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-A, 2.00% 4/1/2056 (put 4/1/2028) |  | 2000 | 1894 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-C, (SIFMA Municipal Swap Index + 0.45%) 2.11% 4/1/2056 (put 4/1/2026)<sup>2</sup> |  | 4595 | 4529 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 11/1/2049 (put 11/1/2026) |  | 2135 | 1907 |
| Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 8/1/2023 |  | 795 | 793 |
| Carlsbad Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 2.00% 8/1/2024 |  | 805 | 800 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put 8/1/2031) |  | 28830 | 29243 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2022-A-1, 4.00% 5/1/2053 (put 8/1/2028) |  | 2000 | 2032 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 (put 8/1/2029) |  | 34140 | 36567 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 5.00% 12/1/2053 (put 8/1/2029) |  | 13415 | 14330 |
| Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 5.00% 6/1/2026 |  | 750 | 820 |
| Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 5.00% 6/1/2027 |  | 600 | 672 |
| County of Contra Costa, West Contra Costa Healthcare Dist., Rev. Ref. Bonds, Series 2021, 5.00% 7/1/2029 |  | 750 | 867 |
| County of Contra Costa, West Contra Costa Healthcare Dist., Rev. Ref. Bonds, Series 2021, 5.00% 7/1/2031 |  | 800 | 945 |
| Educational Facs. Auth., Rev. Bonds (University of Southern California), Series 2009-C, 5.25% 10/1/2024 (escrowed to maturity) |  | 675 | 709 |
| City of El Centro, Fncg. Auth., Wastewater Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2028 |  | 1000 | 1040 |
| City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2027 |  | 375 | 387 |
| City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2029 |  | 290 | 300 |
| Fresno Unified School Dist., G.O. Bonds, 2010 Election, Series 2013-C, 5.50% 8/1/2046 |  | 10200 | 10344 |
| Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2021-D, 2.00% 8/1/2024 |  | 515 | 514 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2031 |  | 270 | 294 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2032 |  | 225 | 244 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2034 |  | 225 | 243 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 9/1/2023 |  | 9155 | 9298 |
| G.O. Rev. Ref. Bonds, Series 2020, 5.00% 11/1/2030 |  | 1000 | 1208 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 12/1/2030 |  | 595 | 720 |

---

<br> 40 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| G.O. Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2031 | USD | 3000 | $3178 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2005-A, Assured Guaranty Municipal insured, 0% 6/1/2025 (escrowed to maturity) |  | 5000 | 4734 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Adventist Health System/West), Series 2016-A, 4.00% 3/1/2026 |  | 1500 | 1557 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035 |  | 15546 | 15074 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036 |  | 7101 | 6587 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Brightline West Passenger Rail Project), Series 2020-A, AMT, 3.65% 1/1/2050 (put 1/31/2024) |  | 12595 | 12595 |
| Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project), Series 2021-B, 2.36% 12/1/2050 (put 6/1/2026)<sup>2</sup> |  | 3435 | 3317 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2025 |  | 1875 | 1969 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 5.00% 9/1/2024 |  | 790 | 820 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2026 |  | 545 | 576 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2026 |  | 3590 | 3779 |
| Las Lomitas Elementary School Dist., G.O. Bonds, 2018 Election, Series 2021-B, 4.00% 7/1/2032 |  | 1290 | 1452 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2027 |  | 5000 | 5441 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2028 |  | 1255 | 1388 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2028 |  | 1350 | 1493 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2029 |  | 1400 | 1572 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2029 |  | 730 | 820 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2030 |  | 1100 | 1251 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2031 |  | 2370 | 2734 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 5/15/2032 |  | 1580 | 1812 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-C, AMT, 5.00% 5/15/2026 |  | 1195 | 1276 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2016-B, AMT, 5.00% 5/15/2027 |  | 1250 | 1336 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2027 |  | 2120 | 2307 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-A, AMT, 5.00% 5/15/2027 |  | 4000 | 4353 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-A, AMT, 5.00% 5/15/2028 |  | 3405 | 3766 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2031 |  | 2000 | 2240 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Green Bonds, Series 2022-G, AMT, 5.00% 5/15/2032 |  | 5780 | 6697 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2022-D, 5.00% 5/15/2029 |  | 200 | 234 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2018-B, AMT, 5.00% 5/15/2033 |  | 12000 | 13144 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2018-B, AMT, 5.00% 5/15/2034 |  | 3000 | 3274 |
| City of Los Angeles, Harbor Dept., Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 8/1/2023 |  | 3000 | 3036 |
| City of Los Angeles, Harbor Dept., Rev. Ref. Bonds, Series 2016-A, AMT, 5.00% 8/1/2024 |  | 1500 | 1555 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Mortgage Rev. Bonds (Long Beach Senior Housing), Series 2022, 2.00% 2/1/2026 (put 2/1/2025) |  | 8695 | 8402 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (Cantamar Villas), Series 2021-D-1, 0.30% 2/1/2025 (put 2/1/2024) |  | 775 | 748 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Rev. Bonds (West Los Angeles VA Campus Building 402 Apartments), Series 2022-F, 3.375% 1/1/2046 (put 7/1/2026) |  | 3600 | 3628 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Bonds, Series 2016-A, 5.00% 6/1/2023 |  | 960 | 969 |

---

<br> American Funds Tax-Exempt Funds 41

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 4.00% 6/1/2036 | USD | 1590 | $1696 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 7/1/2026 |  | 1035 | 1137 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 5.00% 7/1/2029 |  | 1500 | 1767 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 4.00% 7/1/2036 |  | 2000 | 2115 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Green Bonds, Series 2022-QRR, 5.00% 7/1/2028 |  | 5935 | 6839 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Green Bonds, Series 2022-QRR, 5.00% 7/1/2029 |  | 5800 | 6832 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Green Bonds, Series 2022-QRR, 5.00% 7/1/2036 |  | 3000 | 3565 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Green Bonds, Series 2022-QRR, 5.00% 7/1/2037 |  | 2625 | 3100 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2029 |  | 400 | 427 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2030 |  | 625 | 666 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2017-E, 1.80% 7/1/2037 (put 5/21/2024)<sup>2</sup> |  | 17160 | 17060 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 11/1/2033 |  | 1150 | 1311 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.25% 11/1/2034 |  | 1000 | 1154 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.25% 11/1/2035 |  | 1175 | 1339 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-B-2, 2.125% 11/15/2026 |  | 370 | 342 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-B-1, 2.75% 11/15/2027 |  | 525 | 477 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009-A, 1.30% 2/1/2039 (put 2/3/2025)<sup>3</sup> |  | 1450 | 1390 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, 4.125% 10/1/2041 (put 10/1/2025) |  | 11160 | 11250 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019-A, AMT, 2.40% 10/1/2044 (put 10/1/2029) |  | 7765 | 7100 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.70% 12/1/2044 (put 12/1/2023) |  | 10935 | 10698 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 5.00% 5/15/2026 |  | 400 | 427 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 5.00% 5/15/2028 |  | 400 | 441 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 5.00% 5/15/2029 |  | 700 | 781 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside II, LLC - UCR Student Housing Project), Series 2019, 5.00% 5/15/2029 |  | 855 | 918 |
| New Haven Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2008-C, Assured Guaranty insured, 0% 8/1/2029 |  | 2500 | 2087 |
| New Haven Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2008-C, Assured Guaranty insured, 0% 8/1/2031 |  | 6890 | 5368 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2023 |  | 2190 | 2217 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2025 |  | 2040 | 2173 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2028 |  | 1810 | 1979 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 5/1/2029 |  | 2230 | 2494 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 11/1/2029 |  | 4560 | 5135 |
| Ontario International Airport Auth., Ontario International Airport Rev. Bonds, Series 2021-B, AMT, Assured Guaranty Municipal insured, 5.00% 5/15/2028 |  | 300 | 329 |
| Ontario International Airport Auth., Ontario International Airport Rev. Bonds, Series 2021-B, AMT, Assured Guaranty Municipal insured, 5.00% 5/15/2029 |  | 835 | 930 |
| Ontario International Airport Auth., Ontario International Airport Rev. Bonds, Series 2021-B, AMT, Assured Guaranty Municipal insured, 5.00% 5/15/2030 |  | 1315 | 1484 |

---

<br> 42 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Ontario International Airport Auth., Ontario International Airport Rev. Bonds, Series 2021-B, AMT, Assured Guaranty Municipal insured, 5.00% 5/15/2031 | USD | 1000 | $1143 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2007-A, National insured, 0% 8/1/2026 |  | 3485 | 3146 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2024 |  | 380 | 385 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2025 |  | 390 | 399 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2026 |  | 415 | 427 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2027 |  | 400 | 413 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-A, 4.00% 10/15/2028 |  | 360 | 373 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2016-C, 4.00% 11/1/2031 |  | 7000 | 7377 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-A, 5.00% 8/1/2028 |  | 3000 | 3462 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2016-C, 4.00% 11/1/2030 |  | 7000 | 7436 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 9/1/2027 |  | 835 | 893 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 9/1/2028 |  | 405 | 433 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2029 |  | 2250 | 2388 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 1035 | 1094 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% 9/1/2027 |  | 1500 | 1594 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2028 |  | 1455 | 1605 |
| Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 7/1/2029 |  | 2165 | 2511 |
| City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2029 |  | 250 | 269 |
| City of San Diego, Community Facs. Dist. No. 2 (Santaluz), Improvement Area No. 1, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2030 |  | 155 | 168 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2008 Election, Series 2012-E, 0% 7/1/2034 |  | 2000 | 1402 |
| City and County of San Francisco, G.O. Rev. Ref. Bonds, Series 2020-R-2, 5.00% 6/15/2023 |  | 4810 | 4858 |
| City of San Francisco, Bay Area Rapid Transit Dist., G.O. Green Bonds, 2016 Election, Series 2020-C-1, 4.00% 8/1/2032 |  | 2200 | 2421 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, AMT, BAM insured, 5.00% 3/1/2029 |  | 570 | 634 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, AMT, BAM insured, 5.00% 3/1/2030 |  | 1550 | 1741 |
| City of Santa Fe Springs, Community Dev. Commission, Consolidated Redev. Project, Tax Allocation Bonds, Capital Appreciation Bonds, Series 2006-A, National insured, 0% 9/1/2023 |  | 4455 | 4388 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2023 |  | 700 | 708 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2024 |  | 200 | 208 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2028 |  | 230 | 265 |
| Southern California Public Power Auth., Transmission Project Rev. Bonds (Southern Transmission Project), Series 2017-A, 5.00% 7/1/2023 |  | 4980 | 5036 |
| Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Villa Del Sol Apartments), Series 2021-A-2, 0.39% 10/1/2023 (put 4/1/2023) |  | 6925 | 6884 |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2006-D, 2.625% 11/1/2033 (put 12/1/2023) |  | 2645 | 2619 |
| Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2013-A, 5.00% 10/1/2023 |  | 330 | 335 |
| Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2015, 5.00% 10/1/2025 |  | 2585 | 2706 |
| Statewide Communities Dev. Auth., Rev. Bonds (Viamonte Senior Living 1 Project), Series 2018-B, 3.00% 7/1/2026 |  | 4000 | 4005 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (University of California, Irvine East Campus Apartments, Phase I Ref. and Phase IV-B CHF-Irvine, LLC), Series 2021, BAM insured, 5.00% 5/15/2030 |  | 4145 | 4771 |
| Stockton Unified School Dist., G.O. Bonds, 2008 Election, Series 2011-D, Assured Guaranty Municipal insured, 0% 8/1/2033 |  | 2000 | 1446 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 6/1/2030 |  | 2000 | 2228 |
| Tulare Joint Union High School Dist., G.O. Bonds, 2004 Election, Capital Appreciation Bonds, Series 2004-A, National insured, 0% 8/1/2028 |  | 4150 | 3577 |

---

<br> American Funds Tax-Exempt Funds 43

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Regents of the University of California, G.O. Rev. Bonds, Series 2013-AK, 5.00% 5/15/2048 (put 5/15/2023) | USD | 7000 | $7052 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2022-S, 5.00% 5/15/2026 |  | 2030 | 2223 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 10/1/2027 |  | 650 | 707 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 4/1/2028 |  | 230 | 252 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2017-CQ, 4.00% 12/1/2047 |  | 645 | 651 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2019-CS, 4.00% 12/1/2049 |  | 5235 | 5302 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2020-CT, 3.00% 12/1/2050 |  | 3285 | 3251 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2022-CU, 5.50% 12/1/2052 |  | 1245 | 1360 |
| Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2015-CM, AMT, 2.45% 12/1/2031 |  | 55 | 55 |
| Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2016-AW, 5.00% 12/1/2033 (preref. 12/1/2026) |  | 255 | 282 |
| Dept. of Water Resources, Water System Rev. Bonds (Central Valley Project), Series 2017-AX, 5.00% 12/1/2033 (preref. 12/1/2027) |  | 230 | 261 |
| West Contra Costa Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2005-D, National insured, 0% 8/1/2026 |  | 8000 | 7289 |
| West Contra Costa Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2005-D, National insured, 0% 8/1/2031 |  | 5000 | 3853 |
|  |  |  | **498156** |
| **Colorado 2.88%** |  |  |  |
| County of Adams, Clear Creek Station Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2017-A, 4.375% 12/1/2032 |  | 1697 | 1613 |
| City of Arvada, Mountain Shadows Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2016, 4.00% 12/1/2026 |  | 303 | 296 |
| City and County of Broomfield, Arista Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 4.375% 12/1/2028 1,000 962 Certs. of Part., Series 2021-A, 5.00% 12/15/2028 |  | 495 | 570 |
| City of Colorado Springs, Utilities System Rev. Ref. Bonds, Series 2020-A, 5.00% 11/15/2029 |  | 1000 | 1176 |
| Board of Governors of the Colorado State University System, System Enterprise Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 3/1/2041 (preref. 3/1/2027) |  | 140 | 156 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2032 |  | 6000 | 6968 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-B, 5.00% 11/15/2032 |  | 250 | 307 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2033 |  | 35000 | 40376 |
| City and County of Denver, Denver Convention Center Hotel Auth., Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2029 |  | 6500 | 6805 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2026 |  | 10000 | 10742 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2017-A, AMT, 5.00% 11/15/2028 |  | 3610 | 3952 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2022-A, AMT, 5.00% 11/15/2029 |  | 18800 | 21271 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2030 |  | 1000 | 1135 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, AMT, 5.00% 12/1/2032 |  | 10000 | 10978 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2023 |  | 1400 | 1427 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2024 |  | 1080 | 1126 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2025 |  | 3835 | 4093 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2020-A, 5.00% 9/1/2026 |  | 750 | 821 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2020-A, 5.00% 9/1/2027 |  | 500 | 559 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 9/1/2039 (put 9/1/2024)<sup>2</sup> |  | 3035 | 3022 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2025 (escrowed to maturity) |  | 1000 | 1058 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2026 (escrowed to maturity) |  | 615 | 667 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2015-A, 5.00% 6/1/2029 |  | 3455 | 3667 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2029 |  | 1750 | 1942 |
| Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2018-B, 5.00% 11/15/2048 (put 11/20/2025) |  | 5505 | 5845 |
| Health Facs. Auth., Hospital Rev. Bonds (Sanford), Series 2019-A, 5.00% 11/1/2028 |  | 3065 | 3454 |
| Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 5.00% 5/15/2031 |  | 3500 | 4197 |

---

<br> 44 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 5.00% 5/15/2032 | USD | 2190 | $2660 |
| Housing and Fin. Auth., Multi Family Housing Rev. Bonds (Wildhorse Ridge Apartments Project), Series 2022, 2.00% 2/1/2026 (put 2/1/2025) |  | 13499 | 13245 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-C, Class I, 4.00% 5/1/2048 |  | 1315 | 1326 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-C, Class I, 4.25% 11/1/2048 |  | 3760 | 3820 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-E, Class I, 4.25% 5/1/2049 |  | 6850 | 6972 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-B, Class I, 3.75% 5/1/2050 |  | 3310 | 3331 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-E, Class I, 3.00% 11/1/2051 |  | 985 | 971 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-H, Class I, 3.00% 11/1/2051 |  | 5735 | 5645 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051 |  | 13430 | 13339 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-B, Class I, 3.25% 5/1/2052 |  | 6855 | 6807 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.125% 11/15/2023 |  | 715 | 730 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 1/15/2029 |  | 700 | 762 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 7/15/2029 |  | 1500 | 1642 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 1/15/2030 |  | 1100 | 1210 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 5.00% 7/15/2030 |  | 350 | 387 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% 7/15/2033 |  | 1935 | 2003 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-B, 4.00% 7/15/2034 |  | 1020 | 1042 |
| Weld County School Dist. RE-5J, G.O. Bonds, Series 2021, 5.00% 12/1/2023 |  | 475 | 485 |
|  |  |  | **205562** |
| **Connecticut 1.44%** |  |  |  |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2029 |  | 750 | 839 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2030 |  | 1000 | 1132 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2031 |  | 1000 | 1139 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2032 |  | 1000 | 1136 |
| Health and Educational Facs. Auth., Rev. Bonds (Hartford Healthcare Issue), Series 2021-A, 5.00% 7/1/2033 |  | 435 | 491 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2024 |  | 1645 | 1700 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2025 |  | 1450 | 1526 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2003-X-2, 0.25% 7/1/2037 (put 2/9/2024) |  | 3355 | 3249 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-C-1, 5.00% 7/1/2040 (put 2/1/2028) |  | 2205 | 2505 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 1.10% 7/1/2048 (put 2/7/2023) |  | 25355 | 25347 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2010-A-3, 0.25% 7/1/2049 (put 2/9/2024) |  | 5970 | 5781 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2020-D, 5.00% 11/15/2023 (escrowed to maturity) |  | 440 | 449 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2020-D, 5.00% 11/15/2024 (escrowed to maturity) |  | 400 | 419 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2020-D, 5.00% 11/15/2025 (escrowed to maturity) |  | 250 | 269 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2025 |  | 695 | 729 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2026 |  | 470 | 501 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2027 |  | 250 | 270 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2028 |  | 345 | 378 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-B-2, AMT, 3.50% 5/15/2039 |  | 660 | 656 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-F-2, AMT, 3.50% 5/15/2039 |  | 1040 | 1034 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-2, AMT, 4.00% 11/15/2041 |  | 1165 | 1166 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-E-1, 4.25% 5/15/2042 |  | 1985 | 2015 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-F-1, 3.50% 11/15/2043 |  | 755 | 755 |

---

<br> American Funds Tax-Exempt Funds 45

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Connecticut (continued)** |  |  |  |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2014-C-1, 4.00% 11/15/2044 | USD | 95 | $95 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2020-A-1, 3.50% 11/15/2045 |  | 795 | 797 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-A-1, 4.00% 11/15/2045 |  | 560 | 562 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-C-1, 4.00% 11/15/2045 |  | 3950 | 3996 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-A-1, 4.00% 11/15/2045 |  | 2945 | 2978 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-E-1, 3.50% 11/15/2046 |  | 2865 | 2862 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 4.00% 11/15/2047 |  | 1660 | 1673 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-D-1, 4.00% 11/15/2049 |  | 4570 | 4659 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-C-4, (SIFMA Municipal Swap Index + 0.625%) 2.285% 5/15/2051 (put 11/15/2024)<sup>2</sup> |  | 15630 | 15596 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051 |  | 5775 | 5793 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-A, 3.50% 11/15/2044 |  | 1085 | 1084 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 11/15/2045 |  | 405 | 405 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2022-A, 5.00% 7/1/2029 |  | 2250 | 2627 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2021-D, 5.00% 11/1/2033 |  | 2000 | 2399 |
| Special Tax Obligation Rev. Ref. Bonds (Transportation Infrastructure Purposes), Series 2022-B, 5.00% 7/1/2029 |  | 3405 | 3975 |
|  |  |  | **102987** |
| **Delaware 0.10%** |  |  |  |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 1.25% 10/1/2040 (put 10/1/2025) |  | 4437 | 4115 |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 1.25% 10/1/2045 (put 10/1/2025) |  | 2560 | 2375 |
| Health Facs. Auth., Rev. Bonds (Beebe Medical Center Project), Series 2018, 5.00% 6/1/2023 |  | 200 | 201 |
| Health Facs. Auth., Rev. Bonds (Beebe Medical Center Project), Series 2018, 5.00% 6/1/2024 |  | 300 | 308 |
|  |  |  | **6999** |
| **District of Columbia 1.90%** |  |  |  |
| G.O. Bonds, Series 2021-D, 5.00% 2/1/2030 |  | 2200 | 2618 |
| G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2/1/2029 |  | 2350 | 2734 |
| G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2/1/2030 |  | 2600 | 3094 |
| Hospital Rev. Ref. Bonds (Children's Hospital Obligated Group Issue), Series 2015, 5.00% 7/15/2027 |  | 1500 | 1599 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (218 Vine Street Apartments Project), Series 2020, 0.30% 1/1/2040 (put 7/1/2023) |  | 2500 | 2462 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Kenilworth 166 Apartments Project), Series 2021, 1.25% 6/1/2025 (put 12/1/2024) |  | 21275 | 20473 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Parcel 42 Project), Series 2022, 1.70% 9/1/2041 (put 3/1/2025) |  | 3000 | 2900 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Paxton Project), Series 2022, 4.00% 9/1/2040 (put 9/1/2025) |  | 2750 | 2811 |
| Income Tax Secured Rev. Bonds, Series 2020-C, 5.00% 5/1/2029 |  | 1000 | 1165 |
| Income Tax Secured Rev. Bonds, Series 2020-A, 5.00% 3/1/2032 |  | 4250 | 5020 |
| Income Tax Secured Rev. Bonds, Series 2022-A, 5.00% 7/1/2032 |  | 525 | 645 |
| Income Tax Secured Rev. Ref. Bonds, Series 2022-C, 5.00% 12/1/2032 |  | 5000 | 6182 |
| Income Tax Secured Rev. Ref. Bonds, Series 2022-C, 5.00% 12/1/2033 |  | 5685 | 6998 |
| Income Tax Secured Rev. Ref. Bonds, Series 2022-C, 5.00% 12/1/2034 |  | 10000 | 12169 |
| Metropolitan Area Transit Auth., Gross Rev. Ref. Transit Rev. Bonds, Series 2017-A-2, 5.00% 7/1/2033 |  | 1000 | 1093 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2018-A, AMT, 5.00% 10/1/2027 |  | 2000 | 2188 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 10/1/2028 |  | 7520 | 8365 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2030 |  | 2500 | 2849 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 10/1/2023 |  | 1750 | 1772 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2023 |  | 2000 | 2025 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 10/1/2024 |  | 2000 | 2064 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2015-B, AMT, 5.00% 10/1/2027 |  | 1000 | 1054 |

---

46 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **District of Columbia (continued)** |  |  |  |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 10/1/2027 | USD | 3910 | $4277 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2027 |  | 1510 | 1652 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2028 |  | 1945 | 2164 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2029 |  | 2530 | 2857 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2030 |  | 5500 | 6267 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2030 |  | 6000 | 6837 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2031 |  | 4270 | 4845 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2031 |  | 2500 | 2879 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 10/1/2033 |  | 4000 | 4499 |
| Metropolitan Washington DC Airports Auth., Rev and Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 10/1/2028 |  | 1410 | 1569 |
| Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 4/1/2028 (preref. 4/1/2026) |  | 500 | 543 |
| Rev. Ref. Bonds (National Public Radio, Inc. Issue), Series 2016, 5.00% 4/1/2029 (preref. 4/1/2026) |  | 500 | 543 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2027 |  | 600 | 673 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2028 |  | 1250 | 1398 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 10/1/2028 |  | 310 | 355 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 10/1/2029 |  | 400 | 466 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 1998, Assured Guaranty Municipal insured, 5.50% 10/1/2028 |  | 1175 | 1318 |
|  |  |  | **135422** |
| **Florida 3.73%** |  |  |  |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2021, 4.00% 10/1/2023 |  | 85 | 85 |
| County of Brevard, Educational Facs. Auth., Demand Rev. Bonds (Florida Institute of Technology Project), Series 2014, 5.00% 4/1/2023 |  | 1100 | 1104 |
| County of Brevard, Health Facs. Auth., Rev. Ref. Bonds (Health First, Inc. Project), Series 2014, 5.00% 4/1/2033 |  | 1000 | 1023 |
| County of Broward, Airport System Rev. Bonds, Series 2017, AMT, 5.00% 10/1/2026 |  | 2500 | 2678 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2028 |  | 1500 | 1661 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2029 |  | 1200 | 1341 |
| County of Broward, Airport System Rev. Bonds, Series 2019-B, AMT, 5.00% 10/1/2029 |  | 5000 | 5586 |
| County of Broward, Airport System Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2030 |  | 2150 | 2401 |
| County of Broward, Airport System Rev. Ref. Bonds, Series 2012-P-1, AMT, 5.00% 10/1/2024 |  | 5045 | 5054 |
| County of Broward, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Solaris Apartments), Series 2021-B, 0.70% 1/1/2025 (put 7/1/2024) |  | 1350 | 1291 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2021-D, 5.00% 7/1/2029 |  | 835 | 969 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2019-B, 5.00% 7/1/2030 |  | 1425 | 1653 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2026 |  | 350 | 362 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2027 |  | 240 | 248 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2028 |  | 445 | 459 |
| City of Daytona Beach, Housing Auth., Multi Family Housing Rev. Bonds (The WM at the River Project), Series 2021-B, 1.25% 12/1/2025 (put 12/1/2024) |  | 6165 | 5914 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2033 |  | 3300 | 3507 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2034 |  | 3000 | 3186 |
| Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2019-D, 5.00% 6/1/2023 |  | 1215 | 1226 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2024 |  | 4000 | 4138 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2025 (escrowed to maturity) |  | 715 | 758 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2025 |  | 340 | 357 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2026 (escrowed to maturity) |  | 720 | 781 |

---

<br> American Funds Tax-Exempt Funds 47

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2026 | USD | 280 | $298 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2027 (escrowed to maturity) |  | 385 | 426 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2017-A, AMT, 5.00% 10/1/2027 |  | 115 | 125 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2016-B, 5.00% 10/1/2028 |  | 750 | 823 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2028 |  | 15000 | 16686 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Ref. Bonds, Series 2016, AMT, 5.00% 10/1/2027 |  | 1125 | 1226 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2026 |  | 655 | 696 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2015-A, AMT, 5.00% 10/1/2030 |  | 2000 | 2058 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2015-A, AMT, 5.00% 10/1/2032 |  | 1990 | 2046 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2015-1, 4.00% 1/1/2047 |  | 210 | 211 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2016-2, 4.00% 7/1/2047 |  | 230 | 231 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2017-1, 4.00% 7/1/2048 |  | 6210 | 6250 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 7/1/2049 |  | 745 | 751 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050 |  | 6180 | 6273 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-2, 3.00% 7/1/2051 |  | 1400 | 1381 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 7/1/2051 |  | 3140 | 3143 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-1, 3.00% 1/1/2052 |  | 6665 | 6571 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-2, 3.00% 7/1/2052 |  | 13490 | 13277 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2022-1, 3.50% 7/1/2052 |  | 995 | 998 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Special Program), Series 2015-A, 3.50% 7/1/2046 |  | 175 | 175 |
| Housing Fin. Corp., Multi Family Mortgage Rev. Bonds (The Canopy at West River Towers 1 & 2), Series 2022-A-2, 3.25% 5/1/2026 (put 5/1/2025) |  | 7272 | 7329 |
| JEA, Electric System Rev. Bonds, Series 2017-B, 5.00% 10/1/2026 |  | 500 | 548 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2026 |  | 340 | 373 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2028 |  | 1500 | 1675 |
| JEA, Electric System Rev. Bonds, Series 2020-A-3, 5.00% 10/1/2030 |  | 3660 | 4293 |
| JEA, Electric System Rev. Bonds, Series 2021-A-3, 5.00% 10/1/2033 |  | 1900 | 2274 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2034 |  | 2700 | 3120 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2034 |  | 1500 | 1733 |
| County of Lee, Airport Rev. Bonds, Series 2021-B, AMT, 5.00% 10/1/2029 |  | 3640 | 4057 |
| County of Lee, Airport Rev. Bonds, Series 2021-B, AMT, 5.00% 10/1/2030 |  | 4985 | 5629 |
| County of Lee, Airport Rev. Bonds, Series 2021-B, AMT, 5.00% 10/1/2031 |  | 1875 | 2142 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2023 |  | 170 | 170 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2024 |  | 195 | 195 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2027 |  | 245 | 243 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2028 |  | 300 | 295 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2029 |  | 370 | 361 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2030 |  | 460 | 443 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2031 |  | 560 | 536 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point Obligated Group), Series 2021, 4.00% 11/15/2032 |  | 375 | 356 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.50% 5/1/2024 |  | 280 | 278 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.50% 5/1/2025 |  | 285 | 284 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.50% 5/1/2026 |  | 295 | 294 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.50% 5/1/2027 |  | 300 | 299 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.50% 5/1/2028 |  | 305 | 304 |

---

<br> 48 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 2.625% 5/1/2029 | USD | 315 | $316 |
| County of Miami-Dade, Capital Asset Acquisition Special Obligation Bonds, Series 2021-A, 5.00% 4/1/2029 |  | 2465 | 2846 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Bonds, Series 2014-A, BAM insured, 5.00% 7/1/2026 |  | 780 | 804 |
| County of Miami-Dade, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds (Nicklaus Children's Hospital Project), Series 2021-A, 4.00% 8/1/2032 |  | 800 | 844 |
| County of Miami-Dade, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Platform 3750), Series 2021, 0.25% 8/1/2024 (put 8/1/2023) |  | 6130 | 6019 |
| County of Miami-Dade, Seaport Rev. Ref. Bonds, Series 2022-A, AMT, 5.00% 10/1/2031 |  | 6745 | 7647 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 5.00% 10/1/2030 |  | 2405 | 2860 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 5.00% 10/1/2031 |  | 2770 | 3315 |
| County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2017-B, 5.00% 10/1/2029 |  | 1000 | 1118 |
| City of Miami Beach, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds (Mount Sinai Medical Center of Florida), Series 2014, 5.00% 11/15/2027 |  | 145 | 149 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Bonds, Series 2016-A, 5.00% 10/1/2024 |  | 2300 | 2396 |
| County of Okeechobee, Solid Waste Disposal Rev. Bonds (Waste Management, Inc. / Okeechobee Landfill Project), Series 2004-A, 0.55% 7/1/2039 (put 7/1/2024) |  | 2250 | 2151 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Ref. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2031 |  | 3050 | 3170 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2019-A, 5.00% 10/1/2025 |  | 1965 | 2087 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2028 |  | 1040 | 1173 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2029 |  | 1250 | 1428 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2030 |  | 2000 | 2315 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2032 |  | 1750 | 2070 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2034 |  | 1000 | 1157 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 8/1/2029 |  | 1420 | 1492 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 8/1/2030 |  | 2985 | 3151 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 8/1/2031 |  | 3135 | 3323 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 5.00% 8/1/2032 |  | 2790 | 2960 |
| County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Dunwoodie Place Apartments), Series 2021-A, 0.20% 9/1/2024 (put 9/1/2023) |  | 920 | 899 |
| County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Stratford Point Apartments), Series 2021-B, 0.55% 1/1/2025 (put 7/1/2024) |  | 7890 | 7527 |
| Orlando Utilities Commission, Utility System Rev. Ref. Bonds, Series 2021-B, 1.25% 10/1/2046 (put 10/1/2028) |  | 7560 | 6579 |
| County of Palm Beach, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Christian Manor), Series 2022, 1.25% 2/1/2025 (put 2/1/2024) |  | 13200 | 12814 |
| County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2026 |  | 345 | 349 |
| County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.20% 5/1/2027 |  | 355 | 366 |
| County of Pasco, Connerton West Community Dev. Dist., Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.25% 5/1/2028 |  | 370 | 383 |
| County of Pinellas, Housing Fin. Auth., Multi Family Mortgage Backed Bonds (Jordan Park Apartments), Series 2021-B, 0.65% 1/1/2025 (put 7/1/2024) |  | 5440 | 5197 |
| County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2013, BAM insured, 5.00% 10/1/2043 (preref. 10/1/2023) |  | 1405 | 1429 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2023 |  | 630 | 632 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.00% 5/1/2023 |  | 970 | 967 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.00% 5/1/2024 |  | 995 | 980 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 2.625% 5/1/2024 |  | 1055 | 1052 |

---

<br> American Funds Tax-Exempt Funds 49

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.00% 5/1/2025 | USD | 1010 | $983 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.50% 5/1/2032 |  | 1790 | 1831 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2025 |  | 1545 | 1630 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2026 |  | 1000 | 1076 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2027 |  | 1250 | 1369 |
| Southeast Overtown/Park West Community Redev. Agcy., Tax Increment Rev. Bonds, Series 2014-A-1, 5.00% 3/1/2023<sup>3</sup> |  | 1000 | 1002 |
| County of Sumter, Industrial Dev. Auth., Hospital Rev. Bonds (Central Florida Health Alliance Projects), Series 2014-A, 5.00% 7/1/2026 |  | 500 | 510 |
| County of Sumter, Industrial Dev. Auth., Hospital Rev. Bonds (Central Florida Health Alliance Projects), Series 2014-A, 5.00% 7/1/2027 |  | 330 | 336 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2028 |  | 215 | 237 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2029 |  | 250 | 279 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2030 |  | 260 | 293 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2031 |  | 325 | 366 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2032 |  | 250 | 281 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2033 |  | 250 | 280 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2034 |  | 275 | 306 |
| City of Tampa, Hospital Rev. Bonds (H. Lee Moffitt Cancer Center Project), Series 2020-B, 5.00% 7/1/2035 |  | 300 | 331 |
| Dept. of Transportation, Federal Highway Reimbursement Rev. Bonds (Indirect GARVEEs), Series 2021-A, 5.00% 7/1/2030 |  | 5000 | 5922 |
| Dept. of Transportation, Right-of-Way Acquisition and Bridge Construction Bonds, Series 2017-A, 5.00% 7/1/2025 |  | 1240 | 1323 |
| Dept. of Transportation, Turnpike Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2029 |  | 1500 | 1751 |
| Dept. of Transportation Fncg. Corp., Rev. Bonds, Series 2020, 5.00% 7/1/2024 |  | 4375 | 4542 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 3.00% 5/1/2024 |  | 1300 | 1281 |
|  |  |  | **266552** |
| **Georgia 2.62%** |  |  |  |
| County of Appling, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project), Series 2013-A, 1.50% 1/1/2038 (put 2/3/2025) |  | 6200 | 5918 |
| City of Atlanta, Airport General Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2031 |  | 1000 | 1115 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 7/1/2029 |  | 5000 | 5627 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2020-B, AMT, 5.00% 7/1/2030 |  | 3000 | 3406 |
| City of Atlanta, Airport General Rev. Ref. Bonds, Series 2021-C, AMT, 5.00% 7/1/2033 |  | 1400 | 1591 |
| City of Atlanta, Tax Allocation Rev. Ref. Bonds (Beltline Project), Series 2016-B, 5.00% 1/1/2024 |  | 2460 | 2513 |
| City of Atlanta, Tax Allocation Rev. Ref. Bonds (Beltline Project), Series 2016-B, 5.00% 1/1/2025 |  | 2620 | 2735 |
| City of Atlanta, Tax Allocation Rev. Ref. Bonds (Beltline Project), Series 2016-D, 5.00% 1/1/2025 |  | 2895 | 3022 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 2.375% 7/1/2026<sup>3</sup> |  | 405 | 386 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 2.875% 7/1/2031<sup>3</sup> |  | 330 | 295 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Intrada Westside), Series 2021-B, 0.41% 3/1/2024 (put 9/1/2023) |  | 3500 | 3429 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Sylvan Hills Senior Apartments Project), Series 2020, 0.41% 12/1/2025 (put 12/1/2023) |  | 2870 | 2787 |
| City of Atlanta, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2018-B, 5.00% 11/1/2033 |  | 1000 | 1118 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2027 |  | 260 | 287 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2028 |  | 310 | 349 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2029 |  | 270 | 310 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 1995-5, 2.20% 10/1/2032 |  | 3860 | 3287 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 2013, 2.925% 11/1/2053 (put 3/12/2024) |  | 5000 | 4961 |

---

50 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2013-A, 1.50% 1/1/2040 (put 2/3/2025) | USD | 2950 | $2816 |
| City of Columbus, Dev. Auth., Multi Family Housing Rev. Bonds (Highland Terrance Phase II Project), Series 2021-B, 0.34% 4/1/2025 (put 4/1/2024) |  | 6850 | 6572 |
| County of Dawson, Dev. Auth., Multi Family Housing Rev. Bonds (Peaks of Dawsonville Project), Series 2021, 0.28% 10/1/2023 |  | 5000 | 4921 |
| County of Dekalb, Housing Auth., Multi Family Housing Rev. Bonds (Columbia Village Project), Series 2021-A, 0.34% 8/1/2024 (put 8/1/2023) |  | 2595 | 2549 |
| G.O. Bonds, Series 2020-A, 5.00% 8/1/2023 |  | 3040 | 3080 |
| G.O. Bonds, Series 2021-A, 5.00% 7/1/2028 |  | 1000 | 1149 |
| G.O. Rev. Ref. Bonds, Series 2022-C, 5.00% 7/1/2031 |  | 4000 | 4886 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-A, 2.75% 12/1/2035 |  | 2500 | 2211 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2015-A-1, 3.50% 6/1/2045 |  | 180 | 180 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2016-A-1, 3.50% 12/1/2046 |  | 325 | 325 |
| City of Lawrenceville, Housing Auth., Multi Family Housing Rev. Bonds (Hearthside Lawrenceville Project), Series 2022, 2.25% 10/1/2025 (put 10/1/2024) |  | 9607 | 9490 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-B, (3-month USD-LIBOR x 0.67 + 0.75%) 3.677% 4/1/2048 (put 9/1/2023)<sup>2</sup> |  | 1000 | 1000 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-D, (3-month USD-LIBOR x 0.67 + 0.83%) 3.757% 8/1/2048 (put 12/1/2023)<sup>2</sup> |  | 13895 | 13916 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-B, 4.00% 8/1/2049 (put 12/2/2024) |  | 2100 | 2114 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-C, 4.00% 5/1/2052 (put 12/1/2028) |  | 21360 | 21413 |
| County of Monroe, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project), Series 2013-A, 1.50% 1/1/2039 (put 2/3/2025) |  | 2625 | 2505 |
| Municipal Electric Auth., Combined Cycle Project Rev. Bonds, Series 2020-A, 5.00% 11/1/2027 |  | 750 | 825 |
| Municipal Electric Auth., Combined Cycle Project Rev. Bonds, Series 2020-A, 5.00% 11/1/2029 |  | 750 | 851 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2029 |  | 660 | 739 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2030 |  | 680 | 774 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2020-A, 5.00% 1/1/2031 |  | 1250 | 1444 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2031 |  | 3300 | 3811 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2032 |  | 2645 | 3084 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2033 |  | 1255 | 1454 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2027 |  | 205 | 224 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2029 |  | 495 | 561 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 430 | 493 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2025 |  | 1000 | 1041 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2027 |  | 1000 | 1082 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2028 |  | 205 | 229 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2029 |  | 1390 | 1544 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2029 |  | 240 | 272 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2030 |  | 1000 | 1110 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 290 | 333 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2028 |  | 160 | 175 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2029 |  | 165 | 182 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2030 |  | 175 | 194 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2031 |  | 165 | 182 |
| Municipal Electric Auth., Power Rev. Bonds, Series 2018-HH, 5.00% 1/1/2029 |  | 2000 | 2203 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2026 |  | 1710 | 1819 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2027 |  | 1020 | 1103 |
| Municipal Electric Auth., Project One Bonds, Series 2016-A, 5.00% 1/1/2028 |  | 1500 | 1608 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2028 |  | 1270 | 1399 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2029 |  | 1655 | 1854 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2030 |  | 1025 | 1147 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2031 |  | 1390 | 1555 |
| Municipal Electric Auth., Project One Bonds, Series 2020-A, 5.00% 1/1/2031 |  | 2000 | 2310 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2031 |  | 1720 | 1986 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2032 |  | 2315 | 2700 |

---

<br> American Funds Tax-Exempt Funds 51

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| Northwest Georgia Housing Auth., Multi Family Housing Rev. Bonds (Dallas Manor Apartments Project), Series 2021, 0.25% 10/1/2024 (put 10/1/2023) | USD | 1265 | $1234 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2021, 5.00% 4/1/2029 |  | 230 | 259 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2021, 5.00% 4/1/2030 |  | 530 | 604 |
| County of Rockdale, Dev. Auth., Multi Family Housing Rev. Bonds (Arbours at Conyers Project), Series 2022, 3.625% 2/1/2026 (put 2/1/2025) |  | 14590 | 14673 |
| City of Valdosta, Housing Auth., Multi Family Housing Rev. Bonds (TISHCO Rural Rental Housing Portfolio Project), Series 2022, 1.25% 2/1/2025 (put 2/1/2024) |  | 3190 | 3121 |
| County of Walker, Dev. Auth., Multi Family Housing Rev. Bonds (Gateway at Rossville Project), Series 2021-B, 0.46% 12/1/2024 (put 12/1/2023) |  | 4775 | 4640 |
|  |  |  | **187082** |
| **Guam 0.01%** |  |  |  |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2013, 5.25% 7/1/2024 |  | **450** | **453** |
| **Hawaii 0.03%** |  |  |  |
| Highway Rev. Bonds, Series 2021, 5.00% 1/1/2027 |  | 1000 | 1103 |
| Dept. of Transportation, Airports Division, Lease Rev. Certs. of Part., Series 2013, AMT, 5.00% 8/1/2023 |  | 1000 | 1009 |
|  |  |  | **2112** |
| **Idaho 0.10%** |  |  |  |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2029 |  | 235 | 266 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2030 |  | 600 | 689 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2031 |  | 600 | 699 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2032 |  | 185 | 218 |
| Housing and Fin. Assn., Grant and Rev. Anticipation Bonds (Federal Highway Trust Fund), Series 2015-A, 5.00% 7/15/2026 |  | 1515 | 1651 |
| Housing and Fin. Assn., Grant and Rev. Anticipation Bonds (Federal Highway Trust Fund), Series 2021-A, 5.00% 7/15/2029 |  | 1345 | 1554 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2029 |  | 600 | 700 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2030 |  | 450 | 534 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2031 |  | 750 | 902 |
|  |  |  | **7213** |
| **Illinois 4.41%** |  |  |  |
| Village of Bolingbrook, G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2013-A, 0% 1/1/2035 (preref. 7/1/2023) |  | 9800 | 5344 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2013, 5.00% 6/15/2024 |  | 4230 | 4254 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-C, 4.00% 6/15/2025 |  | 4515 | 4576 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-D, 5.00% 6/15/2025 |  | 475 | 492 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-C, 4.00% 6/15/2026 |  | 6400 | 6525 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 2000 | 2036 |
| City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2014-B, 5.00% 1/1/2028 |  | 500 | 512 |
| City of Chicago, Transit Auth., Capital Grant Receipts Rev. Ref. Bonds (Federal Transit Administration Section 5307 Urbanized Area Formula Funds), Series 2021, 5.00% 6/1/2024 |  | 650 | 669 |
| City of Chicago, Wastewater Transmission Rev. Project Bonds, Series 2014, 5.00% 1/1/2028 |  | 385 | 391 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2024 |  | 1500 | 1530 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2025 |  | 2000 | 2079 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2026 |  | 1165 | 1236 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2023 |  | 200 | 203 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2026 |  | 5225 | 5587 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2027 |  | 1750 | 1867 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2028 |  | 1500 | 1588 |

---

52 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Water Rev. Bonds, Series 1999, Assured Guaranty Municipal insured, 5.00% 11/1/2029 | USD | 1000 | $1090 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2030 |  | 1400 | 1478 |
| City of Chicago, Water Rev. Bonds, Series 2001, AMBAC insured, 5.75% 11/1/2030 |  | 2415 | 2721 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2023 |  | 2080 | 2114 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2012, 5.00% 11/1/2025 |  | 775 | 781 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 11/1/2028 |  | 355 | 382 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.25% 6/1/2025 |  | 1935 | 2062 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Rev. Ref. Bonds, Series 1999, Assured Guaranty Municipal insured, 5.75% 6/1/2023 |  | 350 | 354 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds, Series 2013, 5.00% 12/1/2023 |  | 200 | 202 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2022-A, 5.00% 11/15/2033 |  | 1175 | 1376 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2025 |  | 110 | 116 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2027 |  | 500 | 551 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2028 |  | 400 | 448 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series 2021-A, AMT, 5.00% 7/1/2025 |  | 225 | 237 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series 2021-A, AMT, 5.00% 7/1/2026 |  | 240 | 258 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series 2021-A, AMT, 2.25% 7/1/2033 |  | 975 | 871 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2008-A-1, 4.00% 11/1/2030 |  | 6000 | 6201 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 3/1/2025 |  | 125 | 131 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 3/1/2026 |  | 120 | 129 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2033 |  | 3000 | 3279 |
| Fin. Auth., Rev. Bonds (Memorial Health System), Series 2019, 5.00% 4/1/2028 |  | 1280 | 1413 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2027 |  | 5000 | 5322 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 5.00% 8/15/2027 |  | 2000 | 2230 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 5.00% 8/15/2031 |  | 1485 | 1743 |
| Fin. Auth., Rev. Bonds (Northwestern Memorial Healthcare), Series 2017-A, 5.00% 7/15/2026 |  | 1680 | 1821 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2027 |  | 250 | 265 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-B-2, 5.00% 5/15/2050 (put 11/15/2026) |  | 3320 | 3545 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 5/1/2024 |  | 2230 | 2270 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2030 |  | 2000 | 2094 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-B, (SIFMA Municipal Swap Index + 0.70%) 2.36% 5/1/2042 (put 5/1/2026)<sup>2</sup> |  | 1420 | 1380 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2024 |  | 1425 | 1463 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2025 |  | 3405 | 3574 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2028 |  | 3535 | 3883 |
| Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 6.00% 7/1/2043 |  | 15850 | 16040 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2028 |  | 5000 | 5248 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2029 |  | 5000 | 5243 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 4.00% 11/15/2039 |  | 500 | 485 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 5.00% 8/15/2029 |  | 2925 | 3335 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 5.00% 8/15/2030 |  | 2565 | 2968 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 4.00% 8/15/2039 |  | 2500 | 2516 |
| Fin. Auth., Rev. Bonds (University of Chicago), Series 2021-A, 5.00% 10/1/2025 |  | 2765 | 2960 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 5.00% 7/15/2033 |  | 365 | 420 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2023 |  | 750 | 763 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2026 |  | 1935 | 2053 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2029 |  | 1500 | 1578 |
| Fin. Auth., Water Facs. Rev. Ref. Bonds (American Water Capital Corp. Project), Series 2020, 0.70% 5/1/2040 (put 9/1/2023) |  | 2030 | 2002 |
| G.O. Bonds, Series 2013, 5.00% 7/1/2023 |  | 1710 | 1726 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2024 |  | 1945 | 1990 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2026 |  | 1710 | 1809 |
| G.O. Bonds, Series 2020-B, 5.00% 10/1/2026 |  | 7000 | 7460 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2026 |  | 2500 | 2667 |
| G.O. Bonds, Series 2020-B, 5.00% 10/1/2029 |  | 19720 | 21567 |

---

<br> American Funds Tax-Exempt Funds 53

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| G.O. Rev. Ref. Bonds, Series 2022-B, 5.00% 3/1/2025 | USD | 5500 | $5723 |
| G.O. Rev. Ref. Bonds, Series 2022-B, 5.00% 3/1/2026 |  | 8050 | 8518 |
| G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2028 |  | 2500 | 2664 |
| G.O. Rev. Ref. Bonds, Series 2022-B, 5.00% 3/1/2028 |  | 4000 | 4324 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2016-B, AMT, 3.50% 8/1/2046 |  | 1365 | 1358 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2016-C, 3.50% 8/1/2046 |  | 880 | 879 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2018-A-1, 4.00% 8/1/2048 |  | 4510 | 4565 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds, Series 2021-C, 0.80% 7/1/2026 |  | 420 | 390 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Bellwood Senior), Series 2022, 4.00% 3/1/2043 (put 12/1/2024) |  | 5545 | 5599 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Berry Manor), Series 2022, 4.00% 9/1/2025 (put 9/1/2024) |  | 810 | 820 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Concord Commons), Series 2021, 0.25% 2/1/2024 (put 2/1/2023) |  | 5585 | 5585 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 2.66% 5/15/2050 (put 5/15/2025)<sup>2</sup> |  | 5825 | 5825 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Terrance Senior), Series 2022, 2.375% 4/1/2025 (put 4/1/2024) |  | 5530 | 5494 |
| Housing Dev. Auth., Rev. Bonds, Series 2016-A, 4.00% 4/1/2046 |  | 780 | 784 |
| Housing Dev. Auth., Rev. Bonds, Series 2017-B, 4.00% 10/1/2048 |  | 1510 | 1525 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 10/1/2049 |  | 4685 | 4767 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051 |  | 13820 | 13603 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 4/1/2023 |  | 2700 | 2710 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, Assured Guaranty Municipal insured, 0% 6/15/2030 |  | 3320 | 2573 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2002-A, Assured Guaranty Municipal insured, 5.50% 12/15/2023 |  | 1725 | 1752 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 3.00% 6/15/2024 |  | 1335 | 1333 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 3.00% 6/15/2025 |  | 205 | 204 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-B, 5.00% 12/15/2025 |  | 1185 | 1226 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-B, 5.00% 12/15/2026 |  | 1000 | 1046 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-B, 5.00% 12/15/2027 |  | 1650 | 1735 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2035 |  | 440 | 247 |
| Metropolitan Water Reclamation Dist. of Greater Chicago, Unlimited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 5.00% 12/1/2025 |  | 2000 | 2155 |
| Metropolitan Water Reclamation Dist. of Greater Chicago, Unlimited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 5.00% 12/1/2026 |  | 2500 | 2762 |
| Municipal Electric Agcy., Power Supply System Rev. Ref. Bonds, Series 2015-A, 5.00% 2/1/2027 |  | 4000 | 4234 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 5.00% 10/1/2029 |  | 325 | 361 |
| Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 6/1/2023 |  | 6125 | 6171 |
| Sales Tax Rev. Bonds, Series 2021-A, BAM insured, 4.00% 6/15/2031 |  | 2250 | 2398 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.25% 11/1/2036 (preref. 11/1/2023) |  | 3080 | 3182 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.125% 11/1/2043 (preref. 11/1/2023) |  | 2500 | 2580 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2027 |  | 950 | 1034 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-B, 5.00% 1/1/2028 |  | 515 | 583 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-C, 5.00% 1/1/2031 |  | 1650 | 1927 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2033 |  | 1000 | 1079 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2025 |  | 740 | 777 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2026 |  | 4000 | 4314 |
| Toll Highway Auth., Toll Highway Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2028 |  | 2760 | 3123 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2018-A, 5.00% 4/1/2025 |  | 135 | 142 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2020-A, 5.00% 4/1/2028 |  | 2100 | 2355 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2020-A, 5.00% 4/1/2030 |  | 2310 | 2670 |

---

54 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2005-A, National insured, 5.50% 4/1/2023 | USD | 2200 | $2210 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2015-A, 5.00% 4/1/2026 |  | 1120 | 1175 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2023 |  | 1110 | 1105 |
| Board of Trustees of the University of Illinois, Rev. Ref. Certs. of Part., Series 2008-A, Assured Guaranty Municipal insured, 5.25% 10/1/2024 |  | 30 | 30 |
| County of Will, G.O. Bonds, Series 2016, 5.00% 11/15/2045 (preref. 11/15/2025) |  | 4225 | 4511 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 2.625% 3/1/2023 |  | 1104 | 1104 |
|  |  |  | **314734** |
| **Indiana 1.78%** |  |  |  |
| Fin. Auth., Environmental Facs. Rev. Ref. Bonds (Indianapolis Power & Light Co. Project), Series 2020-B, AMT, 0.95% 12/1/2038 (put 4/1/2026) |  | 1885 | 1685 |
| Fin. Auth., Hospital Rev. Bonds (Community Health Network Project), Series 2012-A, 5.00% 5/1/2042 (preref. 5/1/2023) |  | 8860 | 8917 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Parkview Health System), Series 2017-A, 5.00% 11/1/2026 |  | 1365 | 1491 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Parkview Health System), Series 2017-A, 5.00% 11/1/2027 |  | 1530 | 1707 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-B, 3.00% 11/1/2030 |  | 2000 | 1800 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030 |  | 10970 | 10910 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-A, 3.00% 11/1/2030 |  | 3300 | 2970 |
| Fin. Auth., Rev. Ref. Bonds (Community Foundation of Northwest Indiana Obligated Group), Series 2015, 5.00% 3/1/2026 |  | 500 | 526 |
| Fin. Auth., Rev. Ref. Bonds (Community Foundation of Northwest Indiana Obligated Group), Series 2015, 5.00% 3/1/2027 |  | 500 | 526 |
| Fin. Auth., Rev. Ref. Bonds (Community Foundation of Northwest Indiana Obligated Group), Series 2015, 5.00% 3/1/2028 |  | 500 | 525 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2019-E, 5.00% 2/1/2023 |  | 2310 | 2310 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2028 |  | 575 | 652 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2029 |  | 1000 | 1157 |
| Fin. Auth., State Revolving Fund Program Green Bonds, Series 2021-B, 5.00% 2/1/2030 |  | 2000 | 2361 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 10/1/2023 |  | 2760 | 2807 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 10/1/2023 |  | 1080 | 1098 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 10/1/2028 |  | 2800 | 3209 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 5.00% 10/1/2028 |  | 1400 | 1597 |
| City of Franklin, Econ. Dev. and Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2019-B, 5.00% 7/1/2023 |  | 300 | 302 |
| Gary/Chicago International Airport Auth., Airport Dev. Zone Rev. Bonds, Series 2014, AMT, 5.50% 2/1/2025 |  | 2295 | 2298 |
| Health Fac. Fncg. Auth., Rev. Bonds (Ascension Health Subordinate Credit Group), Series 2005-A-1, 4.00% 11/1/2023 |  | 805 | 814 |
| Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Biggs Project), Series 2022, 2.00% 4/1/2025 (put 4/1/2024) |  | 1875 | 1853 |
| Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Justus Project), Series 2021, 0.33% 6/1/2024 (put 6/1/2023) |  | 7262 | 7176 |
| Housing and Community Dev. Auth., Multifamily Housing Rev. Bonds (Emerald Pointe Apartments Project), Series 2022, 5.00% 11/1/2025 (put 11/1/2024) |  | 1125 | 1155 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-B-1, 1.95% 7/1/2035 |  | 3000 | 2327 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-A-2, AMT, 3.50% 7/1/2038 |  | 440 | 438 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-A-2, AMT, 4.00% 1/1/2039 |  | 290 | 290 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049 |  | 1125 | 1134 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-B-1, 3.25% 7/1/2049 |  | 1940 | 1928 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050 |  | 2890 | 2848 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 1/1/2052 |  | 4375 | 4299 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-C-1, 5.00% 7/1/2053 |  | 1735 | 1851 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A-1, 5.75% 7/1/2053 |  | 420 | 464 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2030 |  | 625 | 685 |

---

<br> American Funds Tax-Exempt Funds 55

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Indiana (continued)** |  |  |  |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2031 | USD | 625 | $690 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 4.50% 6/1/2039 |  | 1440 | 1475 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds, Series 2021-A, 5.00% 6/1/2023 |  | 935 | 942 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds, Series 2021-A, 5.00% 6/1/2024 |  | 1185 | 1221 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2026 |  | 340 | 366 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2027 |  | 330 | 364 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2028 |  | 435 | 491 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2029 |  | 265 | 305 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2030 |  | 435 | 510 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2032 |  | 1000 | 1170 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Bonds, Series 2018-A, 5.00% 1/1/2037 (preref. 1/1/2029) |  | 3000 | 3476 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2028 |  | 1680 | 1716 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2029 |  | 1055 | 1077 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2030 |  | 1200 | 1224 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2031 |  | 800 | 815 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2015-I, AMT, 5.00% 1/1/2026 |  | 2000 | 2075 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2016-A-1, AMT, 5.00% 1/1/2028 |  | 1095 | 1166 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2019-D, AMT, 5.00% 1/1/2029 |  | 5250 | 5806 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2015-I, AMT, 5.00% 1/1/2031 |  | 4455 | 4607 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Indianapolis Airport Auth. Project), Series 2015-I, AMT, 5.00% 1/1/2033 |  | 1500 | 1549 |
| City of Indianapolis, Water System Rev. Ref. Bonds, Series 2016-B, 5.00% 10/1/2028 |  | 3000 | 3280 |
| City of Kokomo, Multi Family Housing Rev. Bonds (KHA RAD I Apartments), Series 2021-A, 0.56% 2/1/2025 (put 2/1/2024) |  | 10590 | 10241 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.00% 1/1/2032 |  | 300 | 364 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.00% 1/1/2033 |  | 350 | 423 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.00% 1/1/2034 |  | 500 | 601 |
| City of Rockport, Pollution Control Rev. Ref. Bonds (Indiana Michigan Power Co. Project), Series 2002-A, 2.75% 6/1/2025 |  | 1515 | 1514 |
| City of Rockport, Pollution Control Rev. Ref. Bonds (Indiana Michigan Power Co. Project), Series 2009-A, 3.05% 6/1/2025 |  | 2005 | 2017 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2016-A, AMT, 5.00% 3/1/2046 (put 3/1/2023) |  | 1535 | 1537 |
|  |  |  | **127132** |
| **Iowa 0.39%** |  |  |  |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 4.00% 12/1/2050 (put 12/1/2032) |  | 2000 | 2002 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2022-A, 1.80% 7/1/2030 |  | 2020 | 1790 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.00% 7/1/2047 |  | 3665 | 3737 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 1/1/2049 |  | 220 | 220 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2020, 3.25% 7/1/2050 |  | 3305 | 3285 |
| Fin. Auth., Solid Waste Fac. Rev. Green Bonds (Gevo NW Iowa RNG, LLC Renewable Natural Gas Project), Series 2021, AMT, 1.50% 1/1/2042 (put 4/1/2024) |  | 5095 | 5011 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026) |  | 7560 | 7850 |

---

56 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Iowa (continued)** |  |  |  |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 5.00% 6/1/2028 | USD | 1400 | $1510 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 5.00% 6/1/2031 |  | 1500 | 1660 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 5.00% 6/1/2033 |  | 700 | 769 |
|  |  |  | **27834** |
| **Kansas 0.08%** |  |  |  |
| Ellis County Unified School Dist. No. 489, G.O. Rev. Ref. and Improvement Bonds, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 9/1/2033 |  | 850 | 1010 |
| Ellis County Unified School Dist. No. 489, G.O. Rev. Ref. and Improvement Bonds, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 9/1/2034 |  | 355 | 418 |
| Ellis County Unified School Dist. No. 489, G.O. Rev. Ref. and Improvement Bonds, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 9/1/2035 |  | 500 | 583 |
| Turnpike Auth., Rev. Ref. Bonds, Series 2020-A, 3.00% 9/1/2025 |  | 950 | 964 |
| Turnpike Auth., Turnpike Rev. Ref. Bonds, Series 2020-A, 3.00% 9/1/2027 |  | 1215 | 1246 |
| University of Kansas Hospital Auth., Health Facs. and Improvement Rev. Bonds (University of Kansas Health System), Series 2019-B, 5.00% 3/1/2027 |  | 1315 | 1446 |
|  |  |  | **5667** |
| **Kentucky 1.06%** |  |  |  |
| County of Carroll, Environmental Facs. Rev. Bonds, Series 2008-A, 2.00% 2/1/2032 |  | 9655 | 8221 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), Capital Appreciation Bonds, Series 2000-B, National insured, 0% 10/1/2027 |  | 5975 | 5149 |
| Housing Corp., Multi Family Housing Rev. Bonds (Cambridge Square Project), Series 2021, 0.30% 8/1/2024 (put 2/1/2024) |  | 2520 | 2431 |
| Housing Corp., Multi Family Housing Rev. Bonds (New Hope Properties Portfolio Project), Series 2021, 0.41% 4/1/2024 (put 10/1/2023) |  | 12525 | 12176 |
| Housing Corp., Multi Family Housing Rev. Bonds (Winterwood II Rural Housing Portfolio), Series 2021, 0.37% 10/1/2024 (put 10/1/2023) |  | 6500 | 6340 |
| Louisville/Jefferson Metro County Government, Pollution Control Rev. Bonds, Series 2001-A, 0.90% 9/1/2026 |  | 1000 | 930 |
| Louisville/Jefferson Metro County Government, Pollution Control Rev. Bonds (Louisville Gas and Electric Co. Project), Series 2003-A, 2.00% 10/1/2033 |  | 2750 | 2285 |
| County of Owen, Water Facs. Rev. Ref. Bonds (Kentucky - American Water Co. Project), Series 2019, 2.45% 9/1/2039 (put 10/1/2029) |  | 6000 | 5588 |
| County of Owen, Water Facs. Rev. Ref. Bonds (Kentucky - American Water Co. Project), Series 2019, 0.70% 6/1/2040 (put 9/1/2023) |  | 2050 | 2021 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, 4.00% 1/1/2049 (put 1/1/2025) |  | 1620 | 1620 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-A-1, 4.00% 12/1/2049 (put 6/1/2025) |  | 6445 | 6464 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030) |  | 13960 | 13941 |
| County of Trimble, Pollution Control Rev. Ref. Bonds (Louisville Gas and Electric Co. Project), Series 2016-A, AMT, 1.30% 9/1/2044 (put 9/1/2027) |  | 5500 | 4782 |
| Turnpike Auth., Econ. Dev. Road Rev. Ref. Bonds (Revitalization Projects), Series 2022-A, 5.00% 7/1/2031 |  | 3000 | 3603 |
|  |  |  | **75551** |
| **Louisiana 1.57%** |  |  |  |
| City of Alexandria, Utilities Rev. Bonds, Series 2013-A, 5.00% 5/1/2038 (preref. 5/1/2023) |  | 1000 | 1006 |
| Aviation Board, General Airport Rev. Ref. Bonds, Series 2017-D-2, AMT, 5.00% 1/1/2029 |  | 1000 | 1071 |
| Parish of East Baton Rouge, Road and Street Improvement Sales Tax Rev. Ref. Bonds, Series 2020, Assured Guaranty Municipal insured, 5.00% 8/1/2028 |  | 2000 | 2258 |
| Parish of East Baton Rouge, Sewerage Commission, Multi Modal Rev. Ref. Bonds, Series 2021-A, 1.30% 2/1/2041 (put 2/1/2028) |  | 19695 | 17383 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2020-A, 5.00% 2/1/2027 |  | 1000 | 1106 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2020-A, 5.00% 2/1/2028 |  | 1000 | 1131 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2020-A, 5.00% 2/1/2029 |  | 1000 | 1155 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2017-A, 0.60% 5/1/2043 (put 5/1/2023) |  | 10870 | 10786 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2017-D-1, 0.60% 5/1/2043 (put 5/1/2023) |  | 15130 | 15013 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2022-A, (USD-SOFR x 0.50 + 0.50%) 3.51% 5/1/2043 (put 5/1/2026)<sup>2</sup> |  | 7390 | 7240 |
| Grant Anticipation Rev. Bonds, Series 2021, 5.00% 9/1/2023 |  | 3665 | 3720 |
| Housing Corp., Multi Family Housing Rev. Bonds (Arbours at Lafayette Project), Series 2021, 0.35% 4/1/2024 (put 4/1/2023) |  | 6985 | 6941 |

---

<br> American Funds Tax-Exempt Funds 57

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Louisiana (continued)** |  |  |  |
| Housing Corp., Multi Family Housing Rev. Bonds (Byers Estates V Project), Series 2021, 0.35% 4/1/2024 (put 4/1/2023) | USD | 2385 | $2371 |
| Housing Corp., Multi Family Housing Rev. Bonds (Hollywood Acres and Hollywood Heights Projects), Series 2019, 0.55% 12/1/2023 |  | 4200 | 4084 |
| Housing Corp., Multi Family Housing Rev. Bonds (Mabry Place Townhomes Project), Series 2021, 0.31% 8/1/2024 (put 8/1/2023) |  | 2225 | 2185 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2020-B, 3.50% 6/1/2050 |  | 830 | 831 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2021-B, 3.00% 12/1/2051 |  | 1100 | 1084 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2022-A, 5.00% 6/1/2052 |  | 7485 | 7953 |
| Parish of Jefferson, Sales Tax Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 2600 | 2922 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), Series 2021-A, 2.00% 6/1/2030 |  | 955 | 860 |
| City of New Orleans, Sewerage Service Rev. Bonds, Series 2020-B, 5.00% 6/1/2029 |  | 1000 | 1134 |
| City of New Orleans, Water Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 12/1/2027 |  | 1000 | 1061 |
| City of New Orleans, Water Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 12/1/2028 |  | 900 | 954 |
| Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2007-A, 1.65% 9/1/2027 (put 12/1/2023) |  | 7070 | 6993 |
| Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2013-A, 1.65% 9/1/2033 (put 12/1/2023) |  | 665 | 658 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2020-B, 5.00% 5/15/2050 (put 5/15/2025) |  | 3055 | 3196 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-1, 2.125% 6/1/2037 (put 7/1/2024) |  | 1225 | 1200 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 12/1/2023 |  | 280 | 283 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 12/1/2024 |  | 215 | 224 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 12/1/2025 |  | 400 | 418 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 380 | 412 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2013-A, 5.00% 5/15/2023 |  | 4320 | 4348 |
|  |  |  | **111981** |
| **Maine 0.04%** |  |  |  |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 190 | 204 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 210 | 229 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2028 |  | 255 | 282 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 245 | 274 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2030 |  | 150 | 170 |
| Housing Auth., Mortgage Purchase Bonds, Series 2017-A, 4.00% 11/15/2047 |  | 205 | 206 |
| Housing Auth., Mortgage Purchase Bonds, Series 2019-E, 3.75% 11/15/2049 |  | 1360 | 1367 |
| Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-E-1, AMT, 3.50% 11/15/2035 |  | 255 | 254 |
| Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-B, 3.50% 11/15/2040 |  | 60 | 60 |
|  |  |  | **3046** |
| **Maryland 1.05%** |  |  |  |
| County of Anne Arundel, G.O. Rev. Ref. Water and Sewer Bonds, Series 2022, 5.00% 4/1/2026 |  | 885 | 963 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 2.10% 3/1/2033 |  | 1000 | 876 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 9/1/2044 |  | 65 | 65 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-C, 4.00% 9/1/2044 |  | 130 | 130 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-A, 4.50% 9/1/2048 |  | 1375 | 1411 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-B, AMT, 4.50% 9/1/2048 |  | 3260 | 3319 |

---

58 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Maryland (continued)** |  |  |  |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2019-C, 3.50% 3/1/2050 | USD | 2560 | $2560 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-A, 3.75% 3/1/2050 |  | 1800 | 1814 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 3.25% 9/1/2050 |  | 8695 | 8645 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-A, 3.00% 9/1/2051 |  | 11625 | 11466 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% 9/1/2051 |  | 13652 | 13413 |
| G.O. Rev. Ref. Bonds, State and Local Facs. Loan of 2021, Series 2022-D-2, 4.00% 8/1/2028 |  | 2500 | 2738 |
| G.O. Rev. Ref. Bonds, State and Local Facs. Loan of 2021, Series 2022-D-2, 4.00% 8/1/2029 |  | 6000 | 6635 |
| County of Howard, Consolidated Public Improvement Rev. Ref. Bonds, Series 2017-D, 5.00% 2/15/2030 |  | 1780 | 2026 |
| County of Montgomery, Housing Opportunities Commission, Program Rev. Bonds, Series 2019-A, 4.00% 7/1/2049 |  | 2865 | 2911 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2017-A, 4.00% 7/1/2048 |  | 1670 | 1683 |
| County of Prince George, Certs. of Part. (Behavioral Health Fac. and Capital Equipment), Series 2021, 5.00% 10/1/2024 |  | 165 | 172 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2017-2, 5.00% 9/1/2026 |  | 1080 | 1188 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2016, 5.00% 11/1/2026 |  | 950 | 997 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2019, 3.00% 10/1/2030 |  | 3800 | 3851 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2021-A, 2.00% 10/1/2034 |  | 5000 | 4342 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 5.00% 7/1/2033 |  | 1000 | 1182 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2017, 5.00% 6/15/2028 |  | 1200 | 1346 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2019, 5.00% 6/1/2030 |  | 1155 | 1352 |
|  |  |  | **75085** |
| **Massachusetts 0.84%** |  |  |  |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2022, 5.00% 2/1/2032 |  | 1000 | 1232 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-A, 5.00% 2/1/2032 |  | 500 | 616 |
| Clean Water Trust, Revolving Fund Green Bonds, Series 2024-B, 5.00% 2/1/2032 |  | 875 | 1078 |
| Dev. Fin. Agcy., Multi Family Housing Rev. Bonds (Salem Heights II Preservation Associates, LP Issue), Series 2021-B, 0.25% 7/1/2024 (put 7/1/2023) |  | 2660 | 2620 |
| Dev. Fin. Agcy., Rev. Bonds (Boston Medical Center Issue), Series 2012-C, 5.25% 7/1/2025 |  | 2390 | 2395 |
| Dev. Fin. Agcy., Rev. Bonds (Loomis Communities Issue), Series 2021, 4.00% 1/1/2031<sup>3</sup> |  | 1000 | 970 |
| Dev. Fin. Agcy., Rev. Bonds (Mass General Brigham, Inc.), Series 2019-T-1, 2.26% 7/1/2049 (put 1/29/2026)<sup>2,3</sup> |  | 1875 | 1850 |
| Dev. Fin. Agcy., Rev. Bonds (Partners HealthCare System Issue), Series 2017-S-2, 5.00% 7/1/2038 (put 1/30/2025) |  | 5000 | 5224 |
| Dev. Fin. Agcy., Rev. Bonds (Partners HealthCare System Issue), Series 2017-S-4, 5.00% 7/1/2038 (put 1/25/2024) |  | 2500 | 2551 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2024 |  | 2000 | 2056 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2025 |  | 1275 | 1331 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2026 |  | 1150 | 1220 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2027 |  | 1150 | 1220 |
| Dev. Fin. Agcy., Rev. Bonds (Williams College Issue), Series 2011-N, 0.45% 7/1/2041 (put 7/1/2025) |  | 1300 | 1211 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2017-A, AMT, 5.00% 7/1/2023 |  | 2500 | 2523 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 7/1/2035 |  | 245 | 245 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2020-B, AMT, 2.625% 7/1/2036 |  | 65 | 62 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2021-B, AMT, 2.00% 7/1/2037 |  | 2200 | 1891 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038 |  | 4120 | 3927 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.30% 12/1/2023 |  | 545 | 534 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.40% 6/1/2024 |  | 700 | 677 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-B-2, 0.75% 6/1/2025 |  | 490 | 463 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 167, 4.00% 12/1/2043 |  | 25 | 25 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 181, 4.00% 12/1/2044 |  | 355 | 356 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 172, 4.00% 6/1/2045 |  | 160 | 160 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 183, 3.50% 12/1/2046 |  | 405 | 405 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 223, 3.00% 6/1/2047 |  | 6615 | 6516 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 190, 4.00% 12/1/2048 |  | 4435 | 4472 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 224, 5.00% 6/1/2050 |  | 1105 | 1175 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 215, 4.00% 12/1/2050 |  | 2505 | 2549 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 177, AMT, 4.00% 6/1/2039 |  | 550 | 550 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 188, AMT, 4.00% 6/1/2043 |  | 1990 | 1990 |

---

<br> American Funds Tax-Exempt Funds 59

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Massachusetts (continued)** |  |  |  |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 171, 4.00% 12/1/2044 | USD | 35 | $35 |
| Massachusetts Bay Transportation Auth., Sales Tax Green Bond Anticipation Notes, Series 2021, 4.00% 5/1/2025 |  | 455 | 472 |
| Port Auth., Rev. Bonds, Series 2017-A, AMT, 5.00% 7/1/2026 |  | 2510 | 2686 |
| Transportation Fund Rev. Ref. Bonds, Series 2021-A, 5.00% 6/1/2029 |  | 2080 | 2425 |
|  |  |  | **59712** |
| **Michigan 2.35%** |  |  |  |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 5.00% 12/1/2025 |  | 1000 | 1072 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 5.00% 12/1/2026 |  | 1000 | 1096 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Beaumont - Spectrum Consolidation), Series 2022, 5.00% 4/15/2025 |  | 6250 | 6585 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Local Project Bonds), Series 2014-C-3, Assured Guaranty Municipal insured, 5.00% 7/1/2023 |  | 1215 | 1227 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2027 |  | 2000 | 2100 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 6/1/2026 |  | 1000 | 1052 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 5.00% 6/1/2029 |  | 2000 | 2179 |
| County of Genesee, Water Supply System Limited Tax G.O. Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 11/1/2023 |  | 500 | 508 |
| County of Genesee, Water Supply System Limited Tax G.O. Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 11/1/2024 |  | 850 | 874 |
| Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-B, 5.00% 7/1/2032 |  | 1250 | 1437 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-C, 5.00% 7/1/2028 |  | 2000 | 2168 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 7/1/2028 |  | 1000 | 1127 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-C, 5.00% 7/1/2029 |  | 2000 | 2168 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Mid Apartments Project), Series 2021, 0.40% 12/1/2024 (put 12/1/2023) |  | 4335 | 4210 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 0.55% 4/1/2025 |  | 1700 | 1615 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 1.80% 10/1/2031 |  | 1000 | 883 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-A, 4.00% 6/1/2046 |  | 245 | 246 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047 |  | 6515 | 6509 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 6/1/2048 |  | 1375 | 1373 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 6/1/2049 |  | 11185 | 11370 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 12/1/2049 |  | 5620 | 5727 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-B, 3.75% 6/1/2050 |  | 2580 | 2599 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 12/1/2050 |  | 6350 | 6359 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052 |  | 15675 | 15433 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 6/1/2053 |  | 19160 | 20376 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-D, 5.50% 6/1/2053 |  | 26645 | 29067 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2030 |  | 500 | 571 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2031 |  | 750 | 868 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2032 |  | 745 | 874 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2033 |  | 1040 | 1212 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2/15/2023 |  | 300 | 300 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2/15/2030 |  | 700 | 804 |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2019-B, 5.00% 2/15/2031 |  | 2460 | 2824 |
| Board of Trustees of Michigan State University, Rev. Ref. Bonds, Series 2020-A, 5.00% 8/15/2030 |  | 950 | 1125 |
| Strategic Fund, Exempt Facs. Rev. Bonds (Waste Management, Inc. Project), Series 2001, AMT, 0.58% 8/1/2027 (put 8/1/2024) |  | 3500 | 3327 |
| Strategic Fund, Limited Obligation Rev. Bonds (Consumers Energy Co. Project), Series 2019, AMT, 1.80% 10/1/2049 (put 10/1/2024) |  | 4290 | 4180 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Detroit Edison Co. Exempt Facs. Project), Series 2008-ET-2, 1.35% 8/1/2029 |  | 3000 | 2672 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Detroit Edison Co. Pollution Control Bonds Project), Series 1995-CC, 1.45% 9/1/2030 |  | 16780 | 14705 |
| Trunk Line Fund Bonds, Series 2021-A, 5.00% 11/15/2031 |  | 230 | 283 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2021-B, AMT, 5.00% 12/1/2030 |  | 1075 | 1217 |

---

60 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Michigan (continued)** |  |  |  |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2021-B, AMT, 5.00% 12/1/2031 | USD | 1135 | $1299 |
| County of Wayne, Airport Auth., Airport Rev. Ref. Bonds (Detroit Metropolitan Wayne County Airport), Series 2015-F, AMT, 5.00% 12/1/2025 |  | 1000 | 1057 |
| County of Wayne, Airport Auth., Airport Rev. Ref. Bonds (Detroit Metropolitan Wayne County Airport), Series 2015-F, AMT, 5.00% 12/1/2026 |  | 1000 | 1056 |
|  |  |  | **167734** |
| **Minnesota 1.49%** |  |  |  |
| County of Dakota, Community Dev. Agcy., Multi Family Housing Rev. Bonds (Ree-Aster House Apartments Project), Series 2020, 0.35% 6/1/2024 (put 6/1/2023) 4,000 3,953 G.O. Rev. Ref. Bonds, Series 2017-D, 5.00% 10/1/2025 |  | 2540 | 2727 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2020, AMT, 2.65% 11/1/2038 |  | 4350 | 3739 |
| City of Hopkins, Multi Family Housing Rev. Bonds (Raspberry Ridge Project), Series 2021, 0.26% 2/1/2024 (put 2/1/2023) |  | 5475 | 5475 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2013-A, AMT, 3.00% 7/1/2031 |  | 40 | 40 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-B, 4.00% 1/1/2038 |  | 225 | 226 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-A, AMT, 4.00% 1/1/2041 |  | 785 | 786 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045 |  | 555 | 556 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-E, AMT, 3.50% 1/1/2046 |  | 580 | 577 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-B, 3.50% 7/1/2046 |  | 1565 | 1564 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2016-E, 4.00% 1/1/2047 |  | 290 | 292 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-B, 4.00% 7/1/2047 |  | 1950 | 1966 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-E, 4.00% 1/1/2048 |  | 2555 | 2580 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 7/1/2048 |  | 2025 | 2038 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-E, 4.25% 1/1/2049 |  | 8650 | 8820 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2019-B, 4.25% 7/1/2049 |  | 3765 | 3846 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-B, 3.50% 7/1/2050 |  | 1115 | 1117 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-E, 3.50% 7/1/2050 |  | 6685 | 6695 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-I, 3.00% 1/1/2051 |  | 3445 | 3397 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-B, 3.00% 7/1/2051 |  | 3845 | 3789 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-D, 3.00% 1/1/2052 |  | 6655 | 6553 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-F, 3.00% 7/1/2052 |  | 10980 | 10807 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 7/1/2052 |  | 13645 | 13426 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 7/1/2052 |  | 6710 | 6597 |
| Municipal Gas Agcy., Commodity Supply Rev. Bonds, Series 2022-A, 4.00% 12/1/2052 (put 12/1/2027) |  | 9620 | 9810 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2025 |  | 550 | 569 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2026 |  | 1620 | 1705 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2033 |  | 1165 | 1330 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 1/1/2035 |  | 1350 | 1516 |
|  |  |  | **106496** |
| **Mississippi 0.50%** |  |  |  |
| Business Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2004, 0.70% 3/1/2029 (put 9/1/2026) |  | 1460 | 1295 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2025 |  | 1245 | 1301 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2026 |  | 1045 | 1117 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2023 |  | 850 | 863 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2024 |  | 1000 | 1039 |
| Gaming Tax Rev. Ref. Bonds, Series 2015-E, 5.00% 10/15/2026 |  | 3425 | 3634 |
| Home Corp., Collateralized Multi Family Housing Rev. Bonds (J&A Dev. Portfolio Project I), Series 2021-1, 0.30% 2/1/2024 (put 2/1/2023) |  | 2350 | 2350 |
| Home Corp., Multi Family Housing Rev. Bonds (Forest Park Apartments II, LP Project), Series 2022-4, 3.50% 7/1/2025 (put 7/1/2024) |  | 10921 | 10941 |
| Home Corp., Multi Family Housing Rev. Bonds (Southwest Village Apartments Project), Series 2022-2, 2.00% 2/1/2025 (put 2/1/2024) |  | 2775 | 2749 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2017-C, AMT, 4.00% 12/1/2046 |  | 855 | 857 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 12/1/2048 |  | 2015 | 2037 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 6/1/2049 |  | 2270 | 2286 |

---

<br> American Funds Tax-Exempt Funds 61

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Mississippi (continued)** |  |  |  |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 12/1/2050 | USD | 2730 | $2694 |
| Home Corp., Single Family Mortgage Social Rev. Bonds, Series 2022-A, 3.00% 6/1/2050 |  | 700 | 689 |
| Home Corp., Single Family Mortgage Social Rev. Bonds, Series 2022-C, 5.00% 12/1/2052 |  | 1875 | 1999 |
|  |  |  | **35851** |
| **Missouri 0.79%** |  |  |  |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-B, 5.00% 5/1/2052 (put 5/1/2028) |  | 22645 | 25230 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Saint Luke's Health System, Inc.), Series 2016, 5.00% 11/15/2025 |  | 1500 | 1599 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-B, 3.50% 5/1/2041 |  | 1150 | 1149 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2019-A, 4.25% 5/1/2047 |  | 1230 | 1254 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2017-B, 3.25% 9/1/2047 |  | 1653 | 1644 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2018-A, 4.25% 5/1/2049 |  | 975 | 991 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-A, 3.50% 11/1/2050 |  | 4145 | 4150 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-A, 3.00% 5/1/2052 |  | 2705 | 2665 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-B, 3.00% 5/1/2052 |  | 5750 | 5662 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 11/1/2052 |  | 4350 | 4320 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2023-A, 5.75% 5/1/2053 |  | 4000 | 4415 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-A, 3.75% 5/1/2038 |  | 80 | 80 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-B-2, 4.00% 11/1/2045 |  | 675 | 679 |
| County of St. Charles, Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Hidden Valley Estates), Series 2021, 0.27% 8/1/2025 (put 10/1/2023) |  | 670 | 654 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 7/1/2031 |  | 1750 | 2012 |
|  |  |  | **56504** |
| **Montana 0.27%** |  |  |  |
| Board of Housing, Multi Family Housing Rev. Bonds (Spruce Grove Apartments Project), Series 2022, 2.75% 5/1/2025 (put 5/1/2024) |  | 5959 | 5945 |
| Board of Housing, Single Family Mortgage Bonds, Series 2015-B-2, AMT, 3.50% 12/1/2042 |  | 155 | 154 |
| Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 6/1/2044 |  | 625 | 624 |
| Board of Housing, Single Family Mortgage Bonds, Series 2019-A, 4.25% 12/1/2045 |  | 2530 | 2572 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-C, 3.00% 12/1/2050 |  | 4400 | 4342 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 4.00% 12/1/2050 |  | 2985 | 3034 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-A-1, 3.00% 6/1/2051 |  | 1890 | 1863 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-B, 3.00% 12/1/2051 |  | 975 | 960 |
|  |  |  | **19494** |
| **Nebraska 0.60%** |  |  |  |
| Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 5), Series 2022-1, 5.00% 5/1/2053 (put 10/1/2029) |  | 10870 | 11492 |
| County of Douglas, Hospital Auth. No. 2 (Methodist Health System), Health Facs. Rev. Ref. Bonds, Series 2015, 5.00% 11/1/2026 |  | 1155 | 1227 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2017-B, AMT, 3.50% 3/1/2040 |  | 2890 | 2863 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2014-A, 4.00% 9/1/2044 |  | 240 | 241 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-A, 3.50% 9/1/2045 |  | 780 | 779 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 9/1/2045 |  | 1250 | 1249 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 9/1/2046 |  | 1105 | 1104 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 9/1/2048 |  | 1490 | 1504 |

---

62 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Nebraska (continued)** |  |  |  |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 9/1/2048 | USD | 3325 | $3358 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049 |  | 3150 | 3157 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-C, 3.00% 9/1/2050 |  | 1915 | 1889 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 9/1/2050 |  | 11015 | 10848 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-A, 3.50% 9/1/2050 |  | 3055 | 3059 |
|  |  |  | **42770** |
| **Nevada 0.98%** |  |  |  |
| Dept. of Business and Industry, Rev. Bonds (Brightline West Passenger Rail Project), Series 2020-A, 3.70% 1/1/2050 (put 1/31/2024) |  | 5500 | 5501 |
| Clark County School Dist., Limited Tax G.O. Bonds, Series 2016-F, 5.00% 6/15/2026 |  | 2470 | 2687 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2020-A, Assured Guaranty Municipal insured, 5.00% 6/15/2026 |  | 1550 | 1688 |
| County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2021-A, 5.00% 7/1/2033 |  | 760 | 904 |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2019-E, 5.00% 7/1/2029 |  | 770 | 894 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Nevada Power Co. Projects), Series 2017, 1.65% 1/1/2036 (put 3/31/2023) |  | 1355 | 1352 |
| City of Henderson, Local Improvement Dist. No. T-14 (Anthem), Local Improvement Bonds, Series 2017, 2.50% 3/1/2023 |  | 655 | 655 |
| City of Henderson, Local Improvement Dist. No. T-17 (Madeira Canyon), Limited Obligation Rev. Ref. Bonds, Series 2017, 2.00% 9/1/2023 |  | 415 | 412 |
| City of Henderson, Local Improvement Dist. No. T-17 (Madeira Canyon), Local Improvement Bonds, Series 2017, 2.25% 9/1/2024 |  | 470 | 463 |
| City of Henderson, Local Improvement Dist. No. T-17 (Madeira Canyon), Local Improvement Bonds, Series 2017, 2.50% 9/1/2025 |  | 495 | 488 |
| Housing Division, Multi Family Housing Rev. Bonds (Southwest Village Apartments), Series 2021, 0.47% 10/1/2024 (put 10/1/2023) |  | 2060 | 2013 |
| Housing Division, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 4/1/2049 |  | 1370 | 1387 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2025 |  | 2185 | 2276 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2027 |  | 1200 | 1269 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2031 |  | 6415 | 7565 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2032 |  | 3000 | 3572 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2033 |  | 3000 | 3545 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2034 |  | 3430 | 4025 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.00% 7/1/2035 |  | 7835 | 9020 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2020-A, 5.00% 6/1/2024 |  | 595 | 616 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2021-A, 5.00% 6/1/2030 |  | 1100 | 1307 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2031 |  | 1750 | 1901 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2022-C, 5.00% 6/1/2032 |  | 5000 | 6133 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2021-C, 2.00% 6/1/2034 |  | 5000 | 4352 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2016-B, 5.00% 6/1/2034 |  | 3900 | 4209 |
| County of Washoe, Reno-Sparks Convention and Visitors Auth., Limited Tax G.O. Rev. Ref. Bonds, Series 2021, 5.00% 7/1/2028 |  | 1500 | 1711 |
|  |  |  | **69945** |
| **New Hampshire 0.51%** |  |  |  |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2024 |  | 1250 | 1293 |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2025 |  | 1250 | 1322 |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2026 |  | 1250 | 1339 |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2027 |  | 1250 | 1339 |
| Health and Education Facs. Auth., Rev. Bonds (University System of New Hampshire Issue), Series 2017-A, 5.00% 7/1/2023 |  | 600 | 606 |
| National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 1/20/2034 |  | 4515 | 4564 |

---

<br> American Funds Tax-Exempt Funds 63

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New Hampshire (continued)** |  |  |  |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class A, 4.375% 9/20/2036 | USD | 7782 | $7808 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class A, 4.00% 10/20/2036 |  | 6798 | 6592 |
| National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2018-A, AMT, (SIFMA Municipal Swap Index + 0.75%) 2.035% 10/1/2033 (put 7/1/2024)<sup>2</sup> |  | 11975 | 11641 |
|  |  |  | **36504** |
| **New Jersey 1.81%** |  |  |  |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2023 |  | 1000 | 1008 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2024 |  | 1000 | 1032 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2026 |  | 1000 | 1075 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2024 |  | 1500 | 1546 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2026 |  | 1000 | 1076 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2021-QQQ, 5.00% 6/15/2029 |  | 500 | 567 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2016-AAA, 5.00% 6/15/2036 |  | 1000 | 1052 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-A, 1.00% 6/1/2023 |  | 2025 | 2011 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020-E, AMT, 0.85% 12/1/2025 |  | 905 | 848 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.10% 11/1/2029 (put 12/1/2027) |  | 1345 | 1220 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2020, AMT, 1.20% 11/1/2034 (put 6/1/2023) |  | 11105 | 11029 |
| Educational Facs. Auth., Rev. Ref. Bonds (Princeton University), Series 2021-C, 3.00% 3/1/2035 |  | 2585 | 2571 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Atlanticare Health System Obligated Group Issue), Series 2021, 5.00% 7/1/2032 |  | 680 | 794 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Princeton HealthCare System Issue), Series 2016-A, 5.00% 7/1/2025 |  | 1340 | 1421 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Princeton HealthCare System Issue), Series 2016-A, 5.00% 7/1/2027 |  | 1250 | 1359 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2025 |  | 1000 | 1061 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2027 |  | 1150 | 1279 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% 12/1/2041 |  | 10130 | 10258 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2020-B, AMT, 3.50% 12/1/2039 |  | 6150 | 6031 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 12/1/2026 |  | 335 | 359 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2019-A, 5.00% 12/1/2027 |  | 1000 | 1110 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-A, AMT, 5.00% 12/1/2027 |  | 335 | 365 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039 |  | 2005 | 1966 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-B, AMT, 2.50% 12/1/2040 |  | 6485 | 5549 |
| Housing and Mortgage Fin. Agcy., Multi Family Conduit Rev. Bonds (Browns Woods Apartments Project), Series 2021-A, 1.25% 12/1/2024 (put 12/1/2023) |  | 7035 | 6937 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2021-H, 1.85% 10/1/2033 |  | 1020 | 818 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 10/1/2048 |  | 5470 | 5612 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050 |  | 4690 | 4834 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-E, 3.50% 4/1/2051 |  | 8790 | 8806 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2022-I, 5.00% 10/1/2053 |  | 17945 | 19150 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, BAM insured, 5.00% 11/1/2036 |  | 500 | 563 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, BAM insured, 5.00% 11/1/2037 |  | 500 | 559 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2029 |  | 225 | 243 |
| Transportation Trust Fund Auth., Federal Highway Reimbursement Rev. Ref. Bonds, Series 2018-A, 5.00% 6/15/2028 |  | 3000 | 3233 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-AA, 5.00% 6/15/2029 |  | 7000 | 7933 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 5.00% 6/15/2032 |  | 2000 | 2226 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-CC, 5.00% 6/15/2033 |  | 1625 | 1898 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-CC, 5.00% 6/15/2034 |  | 1450 | 1674 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2019-A, 5.00% 12/15/2028 |  | 2750 | 3099 |

---

64 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New Jersey (continued)** |  |  |  |
| Transportation Trust Fund Auth., Transportation System Rev. Ref. Bonds, Series 2015-AA, 5.00% 6/15/2023 | USD | 1000 | $1008 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2014-A, 5.00% 1/1/2028 |  | 1400 | 1449 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 1/1/2028 |  | 2380 | 2578 |
|  |  |  | **129207** |
| **New Mexico 1.33%** |  |  |  |
| Albuquerque Municipal School Dist. No. 12, G.O. School Bonds, Series 2021-A, 5.00% 8/1/2025 |  | 400 | 426 |
| Albuquerque Municipal School Dist. No. 12, G.O. School Bonds, Series 2021-A, 5.00% 8/1/2026 |  | 275 | 301 |
| Albuquerque Municipal School Dist. No. 12, G.O. School Bonds, Series 2021-A, 5.00% 8/1/2027 |  | 400 | 447 |
| Albuquerque Municipal School Dist. No. 12, G.O. School Bonds, Series 2021-A, 5.00% 8/1/2028 |  | 375 | 428 |
| Educational Assistance Foundation, Education Loan Bonds, Series 2021-1-A, AMT, 2.05% 9/1/2051 |  | 21075 | 19169 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan and Four Corners Projects), Series 2016-A, 2.15% 4/1/2033 |  | 2100 | 1765 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-D, 1.10% 6/1/2040 (put 6/1/2023) |  | 16250 | 16107 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-E, 1.15% 6/1/2040 (put 6/1/2024) |  | 19130 | 18485 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2019-A, 5.00% 8/1/2029 |  | 1195 | 1375 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2019-A, 5.00% 8/1/2030 |  | 1110 | 1269 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2016-A-2, Class I, AMT, 3.50% 3/1/2046 |  | 1410 | 1397 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2017-B-2, Class I, AMT, 3.75% 3/1/2048 |  | 725 | 722 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-B-1, Class I, 4.00% 1/1/2049 |  | 605 | 612 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-C, Class I, 4.00% 1/1/2049 |  | 990 | 1001 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-A-1, Class I, 4.25% 1/1/2050 |  | 6465 | 6589 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-C-1, Class I, 4.00% 7/1/2050 |  | 2535 | 2570 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2020-B, Class I, 3.00% 1/1/2051 |  | 3310 | 3262 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-A, Class I, 3.00% 1/1/2052 |  | 6735 | 6632 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-C, Class I, 3.00% 1/1/2052 |  | 4095 | 4030 |
| Municipal Energy Acquisition Auth., Gas Supply Rev. Ref. and Acquisition Bonds, Series 2019, 5.00% 11/1/2039 (put 5/1/2025) |  | 8430 | 8738 |
|  |  |  | **95325** |
| **New York 7.85%** |  |  |  |
| Build NYC Resource Corp., Rev. Ref. Bonds (Ethical Culture Fieldston School Project), Series 2015, 5.00% 6/1/2024 |  | 395 | 407 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2021-B, 5.00% 7/1/2028 |  | 1650 | 1889 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2021-B, 5.00% 7/1/2029 |  | 1350 | 1574 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2021-B, 5.00% 7/1/2030 |  | 590 | 701 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-B, 5.00% 2/15/2030 |  | 9040 | 10115 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-D, 5.00% 2/15/2030 |  | 3640 | 4301 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2018-A, 5.00% 3/15/2030 |  | 12000 | 13828 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 3/15/2030 |  | 15000 | 17753 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 5.00% 3/15/2030 |  | 2475 | 2929 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A-2, 5.00% 3/15/2031 |  | 3170 | 3805 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 3/15/2032 |  | 5000 | 5973 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2032 |  | 6205 | 7598 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 5.00% 2/15/2033 |  | 1000 | 1171 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-C, 5.00% 3/15/2024 (escrowed to maturity) |  | 5000 | 5149 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2016-A, 5.00% 3/15/2028 |  | 1740 | 1908 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2033 |  | 1405 | 1586 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2014-A, 5.00% 3/15/2038 |  | 1000 | 1024 |
| Environmental Facs. Corp., Revolving Funds Rev. Green Bonds (2010 Master Fncg. Program), Series 2022-B, 5.00% 9/15/2032 |  | 350 | 436 |
| Environmental Facs. Corp., Revolving Funds Rev. Green Bonds (2010 Master Fncg. Program), Series 2022-B, 5.00% 9/15/2033 |  | 425 | 525 |
| Environmental Facs. Corp., Revolving Funds Rev. Green Bonds (2010 Master Fncg. Program), Series 2022-B, 5.00% 9/15/2034 |  | 250 | 306 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-P, 1.55% 11/1/2023 |  | 3725 | 3686 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-I, 1.75% 5/1/2024 |  | 1765 | 1737 |

---

<br> American Funds Tax-Exempt Funds 65

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-K, 0.70% 11/1/2024 | USD | 6415 | $6182 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 0.85% 11/1/2024 |  | 2780 | 2659 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 0.95% 5/1/2025 |  | 2000 | 1887 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-2, 0.75% 11/1/2025 |  | 21920 | 20227 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-M-2, 0.75% 11/1/2025 |  | 5500 | 5116 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 1.10% 5/1/2026 |  | 2250 | 2082 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-D-2, 0.65% 11/1/2056 (put 11/1/2025) |  | 5360 | 4972 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-E-2, 0.65% 11/1/2056 (put 11/1/2025) |  | 3225 | 2976 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-I-2, 0.70% 11/1/2056 (put 11/1/2025) |  | 3795 | 3539 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-K-2, 1.00% 11/1/2061 (put 11/1/2026) |  | 2245 | 2069 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 11/1/2061 (put 5/1/2027) |  | 20915 | 19042 |
| Housing Fin. Agcy., Affordable Housing Rev. Ref. Bonds, Series 2020-H, 1.75% 5/1/2030 |  | 1685 | 1468 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 1.45% 11/15/2029 |  | 1650 | 1393 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 1.70% 11/15/2030 |  | 4000 | 3358 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 1.90% 11/15/2031 |  | 2000 | 1672 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-C, 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 2670 | 2669 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C, (1-month USD-LIBOR x 0.70 + 0.75%) 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 5795 | 5793 |
| Metropolitan Transportation Auth., Dedicated Tax Fund Rev. Ref. Bonds, Series 2008-B-4, 5.00% 11/15/2023 |  | 5000 | 5098 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2013-E, 5.00% 11/15/2023 |  | 350 | 355 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-C, 5.00% 11/15/2024 |  | 5050 | 5221 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-1, 5.00% 11/15/2027 |  | 3150 | 3231 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030) |  | 20100 | 21983 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2024 |  | 1165 | 1204 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2015-F, 5.00% 11/15/2027 |  | 2815 | 2905 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-1, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 3.431% 11/1/2032 (put 4/1/2024)<sup>2</sup> |  | 5000 | 5019 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-B, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 3.431% 11/1/2032 (put 4/1/2024)<sup>2</sup> |  | 4025 | 4040 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-2, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.80%) 3.681% 11/1/2032 (put 4/1/2026)<sup>2</sup> |  | 3990 | 3965 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-B, 5.00% 11/15/2023 |  | 1035 | 1049 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2023 |  | 305 | 309 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2025 |  | 2250 | 2367 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2018-B, 5.00% 11/15/2025 |  | 1700 | 1788 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2027 |  | 535 | 576 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-B, 5.00% 11/15/2028 |  | 1185 | 1281 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2029 |  | 1945 | 2067 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 5.00% 11/15/2032 |  | 1050 | 1150 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 235, AMT, 0.55% 10/1/2023 |  | 380 | 374 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 235, AMT, 0.65% 4/1/2024 |  | 715 | 696 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 235, AMT, 0.75% 10/1/2024 |  | 825 | 794 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 10/1/2030 |  | 465 | 463 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 191, AMT, 3.50% 10/1/2034 |  | 55 | 55 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 225, 2.00% 10/1/2035 |  | 1675 | 1334 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 206, AMT, 4.00% 10/1/2037 |  | 1120 | 1122 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 48, 2.625% 4/1/2041 |  | 35 | 35 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 10/1/2044 |  | 3810 | 3806 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 10/1/2045 |  | 13900 | 13709 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 200, 3.50% 10/1/2045 |  | 1405 | 1403 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 195, 4.00% 10/1/2046 |  | 990 | 995 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 203, 3.50% 10/1/2047 |  | 2880 | 2878 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047 |  | 1200 | 1218 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 217, 4.00% 10/1/2049 |  | 7865 | 7943 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051 |  | 4150 | 4129 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 10/1/2052 |  | 3680 | 3689 |
| New York City G.O. Bonds, Series 2014-G, 5.00% 8/1/2023 |  | 1550 | 1570 |
| New York City G.O. Bonds, Series 2015-A, 5.00% 8/1/2025 |  | 2000 | 2136 |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2027 |  | 1200 | 1348 |

---

66 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2028 | USD | 1000 | $1053 |
| New York City G.O. Bonds, Series 2017-C, 5.00% 8/1/2028 |  | 4300 | 4780 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2028 |  | 1400 | 1612 |
| New York City G.O. Bonds, Series 2016-C, 5.00% 8/1/2029 |  | 1000 | 1075 |
| New York City G.O. Bonds, Series 2008-L-6, 5.00% 4/1/2030 |  | 2000 | 2317 |
| New York City G.O. Bonds, Series 2019-E, 5.00% 8/1/2030 |  | 2235 | 2580 |
| New York City G.O. Bonds, Series 2020-C-1, 5.00% 8/1/2030 |  | 12815 | 15291 |
| New York City G.O. Bonds, Series 2022-B, 5.00% 8/1/2031 |  | 1200 | 1458 |
| New York City G.O. Bonds, Series 2022-C, 5.00% 8/1/2031 |  | 9000 | 10932 |
| New York City G.O. Bonds, Series 2008-L-5, 5.00% 4/1/2032 |  | 1030 | 1242 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2032 |  | 4435 | 5379 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2032 |  | 2110 | 2458 |
| New York City G.O. Bonds, Series 2019-E, 5.00% 8/1/2033 |  | 1000 | 1147 |
| New York City G.O. Bonds, Series 2022-B-1, 5.00% 10/1/2033 |  | 1000 | 1223 |
| New York City G.O. Bonds, Series 2022-A-1, 5.00% 9/1/2034 |  | 1645 | 1987 |
| New York City G.O. Bonds, Series 2014-D-3, 5.00% 8/1/2038 (put 2/1/2024) |  | 1015 | 1025 |
| New York City G.O. Bonds, Series 2015-F-4, 5.00% 6/1/2044 (put 12/1/2025) |  | 3210 | 3374 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2/15/2024 |  | 375 | 384 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2/15/2026 |  | 2055 | 2223 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2/15/2027 |  | 2675 | 2962 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2/15/2048 |  | 320 | 313 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2020-D-2, 0.70% 5/1/2060 (put 11/1/2024) |  | 1450 | 1372 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2020-A-3, 1.125% 5/1/2060 (put 11/1/2024) |  | 2900 | 2789 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 11/1/2060 (put 7/1/2025) |  | 4560 | 4274 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2018-L-2, 2.75% 5/1/2050 (put 12/29/2023) |  | 5150 | 5150 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2019-E-2, 1.75% 5/1/2059 (put 7/3/2023) |  | 1400 | 1390 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2020-I-2, 0.70% 11/1/2060 (put 5/1/2025) |  | 14905 | 14027 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2020-A-1-B, 2.10% 5/1/2032 |  | 1055 | 944 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2022-A, 2.80% 11/1/2034 |  | 2520 | 2334 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-C-1, 2.10% 11/1/2036 |  | 1340 | 1042 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-2, 0.60% 5/1/2061 (put 7/1/2025) |  | 9395 | 8783 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2025 |  | 1000 | 1044 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-DD, 5.00% 6/15/2029 |  | 465 | 546 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2022-EE, 5.00% 6/15/2030 |  | 6400 | 7660 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2022-CC-2, 5.00% 6/15/2035 |  | 4520 | 5396 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 5.00% 2/1/2023 |  | 680 | 680 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-1, 5.00% 11/1/2025 |  | 420 | 452 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-C, 5.00% 11/1/2027 |  | 5000 | 5289 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-C, 5.00% 11/1/2028 |  | 1000 | 1114 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 11/1/2030 |  | 3625 | 4363 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 5.00% 5/1/2031 |  | 760 | 913 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 11/1/2031 |  | 2000 | 2450 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 5.00% 5/1/2032 |  | 1000 | 1195 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A, 5.00% 11/1/2032 |  | 4500 | 5370 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A-1, 5.00% 11/1/2032 |  | 3000 | 3647 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-A-1, 5.00% 8/1/2035 |  | 1200 | 1435 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2023-D-1, 5.25% 11/1/2037 |  | 4500 | 5341 |
| Town of Oyster Bay, Public Improvement Rev. Ref. Bonds, Series 2021, 4.00% 3/1/2023 |  | 850 | 851 |

---

<br> American Funds Tax-Exempt Funds 67

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Port Auth., Consolidated Bonds, Series 223, AMT, 5.00% 7/15/2023 | USD | 1405 | $1417 |
| Port Auth., Consolidated Bonds, Series 195, AMT, 5.00% 10/1/2025 |  | 1540 | 1621 |
| Port Auth., Consolidated Bonds, Series 221, AMT, 5.00% 7/15/2028 |  | 1000 | 1105 |
| Port Auth., Consolidated Bonds, Series 227, AMT, 2.00% 10/1/2031 |  | 1505 | 1298 |
| Port Auth., Consolidated Rev. Ref. Bonds, Series 186, AMT, 5.00% 10/15/2023 |  | 5000 | 5066 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 11/15/2032 |  | 1000 | 1224 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 11/15/2034 |  | 865 | 1045 |
| Suffolk County Econ. Dev. Corp., Rev. Ref. Bonds (Peconic Landing at Southold, Inc. Project), Series 2010, 3.125% 12/1/2025 |  | 225 | 221 |
| Thruway Auth., General Rev. Ref. Bonds, Series 2018-L, 5.00% 1/1/2030 |  | 1000 | 1125 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 5.00% 3/15/2033 |  | 2855 | 3401 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2023 |  | 1500 | 1522 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2024 |  | 2690 | 2782 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2026 |  | 1000 | 1063 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2027 |  | 1340 | 1456 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2029 |  | 810 | 904 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2030 |  | 1150 | 1273 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2032 |  | 8900 | 9979 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2035 |  | 550 | 582 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 4.00% 7/1/2033 |  | 4000 | 4009 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2026 |  | 15240 | 16752 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2027 |  | 6430 | 7243 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2031 |  | 2000 | 2452 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series 2022-E-2B, 5.00% 11/15/2032 |  | 2755 | 3398 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2034 |  | 450 | 554 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2030 |  | 1375 | 1564 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2028 |  | 4520 | 4881 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2028 |  | 2750 | 3135 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2014-A, 5.00% 3/15/2029 |  | 1500 | 1542 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 3/15/2029 |  | 1750 | 2038 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2030 |  | 2250 | 2423 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2030 |  | 2000 | 2374 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2031 |  | 1000 | 1197 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2033 |  | 2940 | 3502 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 12/15/2025 |  | 1320 | 1349 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 12/15/2032 |  | 5840 | 7048 |
| County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Marble Hall - Tuckahoe, LP Project), Series 2021, 0.28% 4/1/2024 (put 4/1/2023) |  | 14515 | 14427 |
|  |  |  | **560448** |
| **North Carolina 1.18%** |  |  |  |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Ref. Bonds, Series 2014-A, 5.00% 7/1/2026 |  | 2000 | 2078 |
| G.O. Public Improvement Bonds (Connect NC), Series 2019-B, 2.00% 6/1/2033 |  | 2500 | 2276 |
| City of Goldsboro, Multi Family Housing Rev. Bonds (Grand at Day Point), Series 2021, 0.28% 5/1/2024 (put 5/1/2023) |  | 6440 | 6376 |

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68 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **North Carolina (continued)** |  |  |  |
| Grant Anticipation Rev. Vehicle Bonds, Series 2019, 5.00% 3/1/2023 | USD | 6370 | $6383 |
| Hospital Auth., Health Care Rev. Bonds (Charlotte-Mecklenburg Hospital), Series 2021-D, 5.00% 1/15/2049 (put 12/1/2031) |  | 5970 | 7051 |
| Housing Fin. Agcy., Home Ownership Rev. and Rev. Ref. Bonds (1998 Trust Agreement), Series 45, 3.00% 7/1/2051 |  | 3690 | 3638 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 40, 4.25% 7/1/2047 |  | 560 | 569 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 41, 4.00% 1/1/2050 |  | 1945 | 1968 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 47, 3.00% 7/1/2051 |  | 13970 | 13753 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 49, 6.00% 7/1/2053 |  | 6400 | 7133 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 37-A, AMT, 3.50% 7/1/2039 |  | 2020 | 2006 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 7/1/2047 |  | 1165 | 1174 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 39-B, 4.00% 7/1/2048 |  | 1475 | 1491 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 1/1/2050 |  | 1330 | 1348 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 7/1/2050 |  | 8220 | 8346 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Winds Crest Senior Living, LP), Series 2021, 0.36% 6/1/2024 (put 6/1/2023) |  | 4115 | 4086 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 5/1/2023 |  | 2430 | 2442 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 5/1/2029 |  | 1500 | 1684 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 5/1/2030 |  | 1000 | 1081 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 5/1/2031 |  | 1000 | 1079 |
| Raleigh-Durham Airport Auth., Airport Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 5/1/2031 |  | 1370 | 1546 |
| Board of Governors of the University of North Carolina at Chapel Hill, General Rev. Bonds, Series 2012-B, (USD-SOFR x 0.67 + 0.65%) 3.531% 12/1/2041 (put 6/1/2025)<sup>2</sup> |  | 2500 | 2507 |
| County of Wake, Limited Obligation Bonds, Series 2021, 5.00% 3/1/2023 |  | 4570 | 4579 |
|  |  |  | **84594** |
| **North Dakota 0.79%** |  |  |  |
| County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2021-A, 0.48% 5/1/2024 |  | 9005 | 8655 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 12/1/2029 |  | 750 | 832 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 12/1/2030 |  | 1600 | 1797 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 12/1/2031 |  | 950 | 1078 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 5.00% 12/1/2032 |  | 1500 | 1673 |
| Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 7/1/2046 |  | 8835 | 8827 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-B, 4.00% 1/1/2036 |  | 185 | 186 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-A, 4.00% 1/1/2038 |  | 90 | 90 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, (SIFMA Municipal Swap Index + 0.20%) 1.86% 1/1/2043 (put 7/1/2024)<sup>2</sup> |  | 2225 | 2225 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-D, 4.00% 7/1/2046 |  | 1495 | 1501 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2016-B, AMT, 4.00% 1/1/2047 |  | 960 | 961 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-D, 4.00% 1/1/2048 |  | 5095 | 5136 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-F, 4.00% 7/1/2048 |  | 440 | 444 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-D, 4.25% 1/1/2049 |  | 1610 | 1635 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-A, 4.25% 7/1/2049 |  | 1435 | 1460 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, 3.75% 7/1/2050 |  | 1240 | 1249 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2020-B, 3.00% 7/1/2051 |  | 2510 | 2476 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052 |  | 4930 | 4857 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052 |  | 7655 | 7519 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-A, 5.75% 7/1/2053 |  | 3275 | 3623 |
|  |  |  | **56224** |
| **Ohio 2.48%** |  |  |  |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% 11/1/2039 (put 6/1/2027) |  | 7205 | 7385 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-B, 1.375% 2/1/2026 (put 11/1/2024) |  | 2650 | 2522 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-C, 1.50% 2/1/2026 (put 11/4/2025) |  | 655 | 608 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-A, 2.875% 2/1/2026 |  | 1000 | 961 |

---

American Funds Tax-Exempt Funds 69

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Ohio (continued)** |  |  |  |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2005-C, AMT, 2.10% 4/1/2028 (put 10/1/2024) | USD | 7935 | $7705 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2005-A, AMT, 2.10% 1/1/2029 (put 10/1/2024) |  | 15000 | 14565 |
| Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds (Summa Health Obligated Group), Series 2020, 5.00% 11/15/2028 |  | 680 | 745 |
| Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds (Summa Health Obligated Group), Series 2020, 5.00% 11/15/2030 |  | 350 | 390 |
| County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 5.00% 12/1/2030 |  | 4400 | 5112 |
| County of Allen, Hospital Facs. Rev. Bonds (Mercy Health), Series 2017-A, 5.00% 8/1/2027 |  | 570 | 629 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 2/1/2029 |  | 1945 | 2246 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 4/1/2029 |  | 510 | 590 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 4/1/2030 |  | 840 | 989 |
| City of Cleveland, Airport System Rev. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 1/1/2026 |  | 1850 | 1941 |
| City of Cleveland, Water Rev. Bonds, Series 2020-FF, 5.00% 1/1/2027 |  | 1100 | 1215 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2025 |  | 950 | 985 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2026 |  | 1000 | 1057 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2027 |  | 1500 | 1601 |
| County of Cuyahoga, Metropolitan Housing Auth., Multifamily Housing Rev. Bonds (Wade Park Apartments), Series 2022, 4.75% 12/1/2027 (put 12/1/2025) |  | 2715 | 2822 |
| City of Dayton, Metropolitan Housing Auth., Multi Family Housing Rev. Bonds (Southern Montgomery Apartments Project), Series 2021-A, 0.32% 9/1/2024 (put 9/1/2023) |  | 1205 | 1180 |
| G.O. Highway Capital Improvement Bonds, Series 2022-X, 5.00% 5/1/2027 |  | 270 | 302 |
| G.O. Highway Capital Improvement Bonds, Series 2022-X, 5.00% 5/1/2028 |  | 625 | 714 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2014, 5.00% 2/1/2025 |  | 400 | 408 |
| County of Hamilton, Metropolitan Sewer Dist. of Greater Cincinatti, Sewer System Rev. Ref. Bonds, Series 2019-A, 5.00% 12/1/2029 |  | 1000 | 1173 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2024 |  | 160 | 162 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.00% 1/1/2026 |  | 300 | 313 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.00% 1/1/2027 |  | 545 | 577 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (John Carroll University Project), Series 2022, 5.00% 10/1/2032 |  | 1000 | 1102 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2025 |  | 1180 | 1236 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2030 |  | 2500 | 2940 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Chevybrook Estates Apartments Project), Series 2021, 0.35% 3/1/2024 (put 3/1/2023) |  | 5110 | 5095 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Franklin Manor North Project), Series 2021, 0.25% 9/1/2024 (put 9/1/2023) |  | 440 | 430 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Glen Meadows Apartments Project), Series 2021-A, 0.40% 11/1/2024 (put 11/1/2023) |  | 3080 | 3000 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Marianna Terrace Apartments), Series 2022-A, 1.30% 3/1/2025 (put 3/1/2024) |  | 4270 | 4173 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Post Oak Station Project), Series 2022, 3.35% 7/1/2025 (put 7/1/2024) |  | 4150 | 4150 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-K, 3.50% 9/1/2046 |  | 1520 | 1519 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-D, 4.00% 3/1/2047 |  | 1470 | 1480 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-B, AMT, 4.50% 3/1/2047 |  | 975 | 985 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, 4.00% 3/1/2048 |  | 5565 | 5608 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% 9/1/2049 |  | 2060 | 2106 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-B, 4.50% 3/1/2050 |  | 1275 | 1305 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 9/1/2050 |  | 9730 | 9820 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-C, 3.25% 3/1/2051 |  | 7820 | 7767 |

---

70 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Ohio (continued)** |  |  |  |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-A, 3.00% 3/1/2052 | USD | 1840 | $1814 |
| Major New State Infrastructure Project Rev. Bonds, Series 2019-1, 5.00% 12/15/2028 |  | 4570 | 5263 |
| Major New State Infrastructure Project Rev. Bonds, Series 2019-1, 5.00% 12/15/2029 |  | 3125 | 3670 |
| Major New State Infrastructure Project Rev. Bonds, Series 2022-1, 5.00% 12/15/2032 |  | 1000 | 1192 |
| Major New State Infrastructure Project Rev. Bonds, Series 2022-1, 5.00% 12/15/2033 |  | 1000 | 1188 |
| Major New State Infrastructure Project Rev. Bonds, Series 2022-1, 5.00% 12/15/2034 |  | 1000 | 1178 |
| Miami University, General Receipts and Rev. Ref. Bonds, Series 2022-A, 5.00% 9/1/2031 |  | 700 | 838 |
| Miami University, General Receipts and Rev. Ref. Bonds, Series 2022-A, 5.00% 9/1/2033 |  | 1550 | 1844 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2029 |  | 505 | 575 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2030 |  | 900 | 1039 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2031 |  | 800 | 937 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2032 |  | 750 | 877 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 5.00% 8/1/2033 |  | 570 | 663 |
| North East Ohio Regional Sewer Dist., Wastewater Improvement Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 11/15/2044 (preref. 11/15/2024) |  | 6500 | 6795 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 6/30/2023 |  | 2305 | 2325 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 12/31/2023 |  | 2590 | 2641 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, 5.00% 6/30/2024 |  | 655 | 674 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 12/31/2024 |  | 1360 | 1413 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 12/31/2026 |  | 865 | 903 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 12/31/2027 |  | 500 | 520 |
| Public Facs. Commission, Higher Education G.O. Bonds, Series 2015-C, 5.00% 11/1/2028 |  | 6525 | 6924 |
| Rev. Bonds (Premier Health Partners Obligated Group), Series 2020, 5.00% 11/15/2032 |  | 1000 | 1102 |
| Rev. Bonds (Premier Health Partners Obligated Group), Series 2020, 5.00% 11/15/2033 |  | 500 | 547 |
| Turnpike and Infrastructure Commission, Rev. Bonds, Series 2013-A-1, 5.00% 2/15/2025 |  | 855 | 856 |
| Turnpike and Infrastructure Commission, Rev. Ref. Bonds, Series 1998-A, National insured, 5.50% 2/15/2026 |  | 2450 | 2652 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2/15/2029 |  | 2890 | 3348 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2/15/2030 |  | 3575 | 4224 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2027 |  | 350 | 392 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2027 |  | 385 | 436 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2028 |  | 500 | 573 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2028 |  | 650 | 753 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2029 |  | 405 | 474 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2031 |  | 50 | 61 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2031 |  | 600 | 736 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2032 |  | 300 | 371 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2032 |  | 400 | 498 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2033 |  | 350 | 433 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2033 |  | 400 | 494 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 6/1/2034 |  | 300 | 369 |
| Water Dev. Auth., Drinking Water Assistance Fund Rev. Green Bonds, Series 2022-A, 5.00% 12/1/2034 |  | 400 | 489 |
| Water Dev. Auth., Water Dev. Rev. Bonds, Series 2013-A, 5.00% 6/1/2023 |  | 1575 | 1589 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2019-A, 5.00% 6/1/2028 |  | 1685 | 1930 |
|  |  |  | **177213** |
| **Oklahoma 0.10%** |  |  |  |
| Capital Improvement Auth., State Highways Capital Improvement Rev. Ref. Bonds (Oklahoma Dept. of Transportation Project), Series 2020-A, 5.00% 7/1/2023 |  | 5065 | 5117 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2022-A, 5.00% 3/1/2052 |  | 575 | 612 |
| Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 9/1/2032 |  | 1000 | 1178 |
|  |  |  | **6907** |

---

<br> American Funds Tax-Exempt Funds 71

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Oregon 1.31%** |  |  |  |
| Dept. of Administrative Services, State Lottery Rev. Bonds, Series 2015-A, 5.00% 4/1/2026 | USD | 330 | $349 |
| County of Deschutes, Deschutes Public Library Dist., G.O. Bonds, Series 2021, 4.00% 6/1/2030 |  | 1300 | 1454 |
| Facs. Auth., Rev. Bonds (University of Portland Projects), Series 2015-A, 5.00% 4/1/2031 |  | 600 | 628 |
| G.O. Bonds (Veteran's Welfare Bonds Series 99B), Series 2020, 3.50% 12/1/2050 |  | 3490 | 3495 |
| G.O. Bonds (Veteran's Welfare Bonds Series 108), Series 2021-O, 3.00% 12/1/2051 |  | 7115 | 6984 |
| G.O. Bonds (Veteran's Welfare Bonds Series 109), Series 2022-D, 5.00% 12/1/2052 |  | 590 | 628 |
| G.O. Rev. Ref. Bonds (Higher Education), Series 2020-N, 5.00% 8/1/2028 |  | 500 | 574 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Anna Mann Apartments Project), Series 2021-AA, 0.75% 6/1/2041 (put 12/1/2024) |  | 21000 | 19845 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (The Susan Emmons Apartments Project), Series 2021-S-2, 0.38% 6/1/2024 (put 12/1/2023) |  | 11660 | 11322 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Westwind Apartments Project), Series 2021-H, 0.25% 3/1/2024 (put 3/1/2023) |  | 1815 | 1812 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2019-A, 2.45% 7/1/2034 |  | 1220 | 1068 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2015-A, 3.50% 7/1/2036 |  | 1050 | 1049 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2017-G, AMT, 4.00% 1/1/2040 |  | 1075 | 1079 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2016-A, 4.00% 1/1/2047 |  | 250 | 251 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2017-A, 4.00% 7/1/2047 |  | 2895 | 2914 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2018-A, 4.50% 1/1/2049 |  | 1105 | 1123 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2020-A, 3.50% 1/1/2051 |  | 2775 | 2779 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2020-C, 3.00% 1/1/2052 |  | 4895 | 4828 |
| Housing and Community Services Dept., Multi Family Housing Dev. Rev. Bonds (Plaza Los Amigos Apartments Project), Series 2022-T-2, 3.00% 2/1/2026 (put 2/1/2025) |  | 1420 | 1403 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 27-A, AMT, 5.00% 7/1/2026 |  | 1500 | 1602 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 27-A, AMT, 5.00% 7/1/2027 |  | 1780 | 1935 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 27-A, AMT, 5.00% 7/1/2031 |  | 4000 | 4525 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 27-A, AMT, 5.00% 7/1/2032 |  | 3300 | 3714 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-C, AMT, 5.00% 7/1/2024 |  | 1400 | 1439 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-A, 5.00% 7/1/2026 |  | 950 | 1011 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-B, 5.00% 7/1/2026 |  | 1700 | 1809 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 25-B, AMT, 5.00% 7/1/2032 |  | 1500 | 1665 |
| Salem-Keizer School Dist. No. 24-J, G.O. Bonds, Series 2020-B, 5.00% 6/15/2035<sup>1</sup> |  | 3455 | 4001 |
| Dept. of Transportation, Highway User Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 11/15/2027 (preref. 11/15/2024) |  | 5225 | 5472 |
| Dept. of Transportation, Highway User Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2030 (preref. 11/15/2024) |  | 2735 | 2864 |
|  |  |  | **93622** |
| **Pennsylvania 3.97%** |  |  |  |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2021-B, 5.00% 10/15/2025 |  | 740 | 789 |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2019-A, 4.00% 7/15/2039 |  | 2500 | 2512 |
| County of Allegheny, Sanitary Auth., Sewer Rev. Bonds, Series 2020-A, 5.00% 6/1/2026 |  | 500 | 545 |
| County of Berks, G.O. Bonds, Series 2015, 4.00% 11/15/2027 (preref. 11/15/2023) |  | 700 | 709 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2030 (put 11/1/2025)<sup>2</sup> |  | 2420 | 2358 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 7/1/2031 (put 11/1/2025)<sup>2</sup> |  | 3225 | 3143 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2032 (put 11/1/2025)<sup>2</sup> |  | 2545 | 2480 |
| Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 11/15/2032 (preref. 11/15/2023) |  | 1520 | 1551 |
| Cumberland Valley School Dist., G.O. Bonds, Series 2015, 5.00% 11/15/2034 (preref. 11/15/2023) |  | 1315 | 1341 |
| Delaware River Joint Toll Bridge Commission, Bridge System Rev. Bonds, Series 2019-A, 5.00% 7/1/2029 |  | 1000 | 1165 |
| Delaware River Port Auth., Rev. Bonds, Series 2013, 5.00% 1/1/2030 (preref. 1/1/2024) |  | 1140 | 1166 |
| Econ. Dev. Fncg. Auth., Pollution Control Rev. Ref. Bonds (PPL Electric Utilities Corp. Project), Series 2008, 0.40% 10/1/2023 |  | 8895 | 8704 |

---

<br> 72 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, AMT, 5.00% 6/30/2030 | USD | 3000 | $3311 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, AMT, 5.00% 12/31/2030 |  | 8350 | 9254 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2023 |  | 5540 | 5581 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2024 |  | 5230 | 5343 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2024 |  | 4900 | 5034 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2025 |  | 6685 | 6875 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2026 |  | 1775 | 1846 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2034 |  | 8355 | 8541 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009, 0.95% 12/1/2033 (put 12/1/2026) |  | 18000 | 15997 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.58% 8/1/2037 (put 8/1/2024) |  | 2100 | 1996 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A, AMT, (SIFMA Municipal Swap Index + 0.40%) 2.06% 6/1/2041 (put 6/3/2024)<sup>2</sup> |  | 4840 | 4716 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2014-A, 5.00% 2/1/2032 |  | 5965 | 6175 |
| General Auth. of Southcentral Pennsylvania, Rev. Bonds (Wellspan Health Obligated Group), Series 2019-B, (SIFMA Municipal Swap Index + 0.60%) 2.26% 6/1/2049 (put 6/1/2024)<sup>2</sup> |  | 4520 | 4506 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2026 |  | 310 | 329 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2029 |  | 535 | 590 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2030 |  | 400 | 443 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041 |  | 1995 | 1692 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.625% 6/1/2042 |  | 2460 | 2144 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.50% 6/1/2043 |  | 6890 | 7108 |
| Higher Educational Facs. Auth., Health System Rev. Bonds (University of Pennsylvania Health System), Series 2019, 5.00% 8/15/2027 |  | 1200 | 1343 |
| Higher Educational Facs. Auth., Health System Rev. Bonds (University of Pennsylvania Health System), Series 2019, 5.00% 8/15/2028 |  | 1300 | 1484 |
| Higher Educational Facs. Auth., Rev. Ref. Bonds, Series 2015-AQ, 5.00% 6/15/2024 |  | 3955 | 4088 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-134A, 1.35% 4/1/2030 |  | 1105 | 927 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 2.00% 4/1/2033 |  | 1390 | 1199 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-128-A, AMT, 4.75% 4/1/2033 |  | 4690 | 4757 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-123-A, AMT, 4.00% 4/1/2039 |  | 1215 | 1216 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2015-117-A, AMT, 3.50% 4/1/2040 |  | 125 | 125 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2015-118-A, AMT, 3.50% 4/1/2040 |  | 680 | 679 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-119, 3.50% 10/1/2041 |  | 145 | 145 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-120, 3.50% 10/1/2046 |  | 1760 | 1758 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-121, 3.50% 10/1/2046 |  | 2985 | 2982 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 10/1/2046 |  | 3460 | 3481 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-133, 3.00% 10/1/2050 |  | 7780 | 7680 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2020-132-A, 3.50% 4/1/2051 |  | 2795 | 2791 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 3.00% 10/1/2051 |  | 3825 | 3778 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 10/1/2051 |  | 10025 | 9776 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-138-A, 3.00% 10/1/2052 |  | 23520 | 22910 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Harrison Senior Tower), Series 2021, 0.25% 6/1/2024 (put 6/1/2023) |  | 10640 | 10509 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (School of Nursing), Series 2021, 0.27% 8/1/2024 (put 8/1/2023) |  | 3425 | 3363 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 5.00% 7/1/2025 |  | 1000 | 1053 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 5.00% 7/1/2026 |  | 1920 | 2060 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (St. Luke's Hospital), Series 2017-B, (SIFMA Municipal Swap Index + 1.10%) 2.76% 8/15/2038<sup>2</sup> |  | 2190 | 2163 |
| County of Lehigh, General Purpose Auth., Rev. Bonds (The Good Shepherd Group), Series 2021-A, 4.00% 11/1/2023 |  | 510 | 514 |

---

American Funds Tax-Exempt Funds 73

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| County of Luzerne, Industrial Dev. Auth., Rev. Ref. Bonds (Pennsylvania - American Water Co. Project), Series 2019, AMT, 2.45% 12/1/2039 (put 12/3/2029) | USD | 4500 | $4192 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 4.00% 5/1/2035 |  | 670 | 685 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Foulkeways at Gwynedd Project), Series 2016, 5.00% 12/1/2026 |  | 400 | 413 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 4.00% 12/1/2023 |  | 125 | 126 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2018-B, (1-month USD-LIBOR x 0.70 + 1.04%) 4.098% 8/15/2048 (put 8/15/2024)<sup>2</sup> |  | 2250 | 2250 |
| City of Philadelphia, Airport Rev. and Rev. Ref. Bonds, Series 2020-C, AMT, 5.00% 7/1/2028 |  | 1220 | 1337 |
| City of Philadelphia, Airport Rev. and Rev. Ref. Bonds, Series 2021, AMT, 5.00% 7/1/2030 |  | 2255 | 2538 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2023 |  | 1000 | 1007 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2024 |  | 2000 | 2049 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2025 |  | 2000 | 2083 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Temple University), Series 2016-1, 5.00% 4/1/2028 |  | 1000 | 1052 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2032 |  | 860 | 1044 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2033 |  | 650 | 787 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2034 |  | 770 | 926 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2035 |  | 1110 | 1317 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2023 |  | 1220 | 1236 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2024 |  | 5080 | 5267 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2025 |  | 3590 | 3802 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, National insured, 5.00% 9/1/2025 |  | 1200 | 1271 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, National insured, 5.00% 9/1/2026 |  | 2000 | 2159 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2029 |  | 1340 | 1520 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2030 |  | 1000 | 1154 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2031 |  | 855 | 999 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2032 |  | 2230 | 2604 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2033 |  | 2900 | 3374 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2019-B, 5.00% 9/1/2028 |  | 3740 | 4179 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2029 |  | 335 | 380 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2030 |  | 1245 | 1436 |
| Philadelphia School Dist., G.O. Green Bonds, Series 2021-B, 5.00% 9/1/2031 |  | 1500 | 1753 |
| Philadelphia School Dist., G.O. Rev. Ref. Bonds, Series 2020, 5.00% 9/1/2023 |  | 1500 | 1520 |
| City of Pittsburgh, Water and Sewer Auth., Water and Sewer System Rev. Ref. Bonds, Series 2017-C, Assured Guaranty Municipal insured, 2.31% 9/1/2040 (put 12/1/2023)<sup>2</sup> |  | 7955 | 7949 |
| Saint Mary Hospital Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2019-PA, 5.00% 12/1/2029 |  | 1000 | 1133 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2027 |  | 1060 | 1153 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-A-1, 5.00% 12/1/2028 |  | 1500 | 1687 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 5.00% 12/1/2028 |  | 725 | 832 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 5.00% 12/1/2029 |  | 875 | 1021 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 12/1/2030 |  | 1700 | 2016 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 5.00% 12/1/2030 |  | 1675 | 1986 |
| Turnpike Commission, Turnpike Rev. Ref. Bonds, Series 2019, 5.00% 12/1/2030 |  | 1250 | 1424 |
| County of Westmoreland, Industrial Dev. Auth., Health System Rev. Bonds (Excela Health Project), Series 2020-A, 4.00% 7/1/2026 |  | 750 | 766 |
|  |  |  | **283152** |
| **Puerto Rico 0.02%** |  |  |  |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2029 |  | 450 | 501 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2030 |  | 625 | 704 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2031 |  | 330 | 376 |
|  |  |  | **1581** |

---

74 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Rhode Island 0.29%** |  |  |  |
| Commerce Corp., Grant Anticipation Rev. Ref. Bonds (Dept. of Transportation), Series 2016-A, 5.00% 6/15/2023 | USD | 500 | $504 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, 5.00% 10/1/2028 |  | 1000 | 1144 |
| Health and Educational Building Corp., Providence Public Schools Rev. Bond Fncg. Program, Rev. Ref. Bonds (Providence Public Buildings Auth. Issue), Series 2015, Assured Guaranty Municipal insured, 5.00% 5/15/2026 |  | 2000 | 2119 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 68-C, AMT, 3.50% 4/1/2039 |  | 1530 | 1526 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 75-A, 3.00% 10/1/2051 |  | 12465 | 12275 |
| Housing and Mortgage Fin. Corp., Multi Family Dev. Bonds, Series 2021-A-1, 0.45% 10/1/2040 (put 10/1/2023) |  | 1790 | 1789 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 12/1/2025 |  | 525 | 554 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 12/1/2026 |  | 825 | 885 |
|  |  |  | **20796** |
| **South Carolina 1.52%** |  |  |  |
| City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Haven at Congaree Pointe), Series 2022, 2.25% 10/1/2043 (put 10/1/2025) |  | 16012 | 15749 |
| City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Palmetto Terrace Apartments Project), Series 2021, 0.31% 6/1/2024 (put 6/1/2023) |  | 4715 | 4658 |
| City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2019-A, 5.00% 2/1/2028 |  | 100 | 113 |
| City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2019-A, 5.00% 2/1/2029 |  | 500 | 579 |
| City of Columbia, Waterworks and Sewer System Rev. Bonds, Series 2013, 5.00% 2/1/2043 (preref. 2/1/2023) |  | 5380 | 5380 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2016-B-2, AMT, 4.00% 7/1/2043 |  | 630 | 631 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-A, 4.00% 1/1/2047 |  | 1320 | 1328 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-B, 4.00% 7/1/2047 |  | 840 | 847 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2018-A, 4.50% 7/1/2048 |  | 1640 | 1674 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 7/1/2050 |  | 13170 | 13390 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 12510 | 12307 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-B, 3.25% 1/1/2052 |  | 6440 | 6402 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2022-A, 4.00% 1/1/2052 |  | 5595 | 5719 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 7/1/2036 |  | 1090 | 1099 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (The Sullivan), Series 2021-B, 0.34% 4/1/2025 (put 4/1/2024) |  | 5935 | 5694 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Villages at Congaree Pointe Project), Series 2021-B, 1.25% 6/1/2025 (put 6/1/2024) |  | 4300 | 4179 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2029 |  | 1360 | 1527 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2031 |  | 1600 | 1834 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2032 |  | 1625 | 1847 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2014-C, 5.00% 12/1/2023 (escrowed to maturity) |  | 125 | 128 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2028 |  | 2455 | 2623 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2013-A, 5.75% 12/1/2043 (preref. 12/1/2023) |  | 5120 | 5258 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2028 |  | 1000 | 1049 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2029 |  | 865 | 971 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2031 |  | 5230 | 5996 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 5.00% 12/1/2032 |  | 620 | 709 |
| County of Richland, Environmental Improvement Rev. Ref. Bonds, Series 2014-A, AMT, 3.875% 4/1/2023 |  | 4900 | 4900 |
| City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Connecticut Village Apartments), Series 2022, 1.05% 8/1/2025 (put 8/1/2023) |  | 350 | 343 |
| Spartanburg Regional Health Services Dist., Hospital Rev. Ref. Bonds, Series 2022, 5.00% 4/15/2029 |  | 1705 | 1895 |
|  |  |  | **108829** |
| **South Dakota 0.70%** |  |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2013-A, AMT, 3.00% 11/1/2030 |  | 20 | 20 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-E, 4.00% 5/1/2044 |  | 355 | 356 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2013-E, AMT, 4.00% 11/1/2044 |  | 60 | 60 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2015-D, 4.00% 11/1/2045 |  | 285 | 286 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-B, 3.50% 11/1/2046 |  | 385 | 385 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-D, 3.50% 11/1/2046 |  | 3890 | 3886 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2017-B, 4.00% 11/1/2047 |  | 2915 | 2937 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 11/1/2048 |  | 4770 | 4875 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2019-B, 4.00% 5/1/2049 |  | 1650 | 1668 |

---

<br> American Funds Tax-Exempt Funds 75

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **South Dakota (continued)** |  |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2020-C, 3.50% 5/1/2051 | USD | 9275 | $9289 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 11/1/2051 |  | 21525 | 21195 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 5/1/2053 |  | 5040 | 5360 |
|  |  |  | **50317** |
| **Tennessee 1.05%** |  |  |  |
| Town of Greeneville, Health and Educational Facs. Board, Hospital Rev. Bonds (Ballad Health), Series 2018-A, 5.00% 7/1/2034 |  | 1350 | 1357 |
| Housing Dev. Agcy., Homeownership Program Bonds, Series 2015-A, 3.50% 7/1/2045 |  | 220 | 220 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-1-C, 3.00% 7/1/2038 |  | 50 | 50 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2A, AMT, 4.00% 1/1/2042 |  | 1625 | 1630 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-2-B, 4.00% 1/1/2042 |  | 945 | 954 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 7/1/2042 |  | 1270 | 1280 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 7/1/2043 |  | 95 | 95 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-C, 4.00% 1/1/2045 |  | 130 | 131 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, AMT, 4.00% 7/1/2045 |  | 60 | 60 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, AMT, 4.00% 1/1/2046 |  | 200 | 200 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2016-1-B, 3.50% 1/1/2047 |  | 55 | 55 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-2, 4.00% 1/1/2048 |  | 1620 | 1647 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 3.75% 1/1/2050 |  | 2935 | 2962 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-1, 4.25% 1/1/2050 |  | 2490 | 2534 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2020-3-A, 3.50% 7/1/2050 |  | 825 | 826 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2022-2, 5.00% 1/1/2053 |  | 3860 | 4079 |
| County of Knox, Health, Educational and Housing Fac. Board, Multi Family Housing Rev. Bonds (Farragut Pointe Apartments Project), Series 2021, 0.65% 12/1/2026 (put 12/1/2024) |  | 7600 | 7036 |
| Knoxville Community Dev. Corp., Collateralized Multi Family Housing Rev. Bonds (Austin 1B Apartments Project), Series 2021, 0.22% 10/1/2024 (put 10/1/2023) |  | 3035 | 2956 |
| City of Memphis, Health, Educational and Housing Facs. Board, Collateralized Multi Family Housing Rev. Bonds (Tillman Cove Apartments), Series 2020, 0.55% 12/1/2024 (put 6/1/2024) |  | 2000 | 1913 |
| Metropolitan Government of Nashville and Davidson County, Electric System Rev. Bonds, Series 2021-A, 5.00% 5/15/2030 |  | 1110 | 1316 |
| Metropolitan Government of Nashville and Davidson County, G.O. Improvement Bonds, Series 2022-B, 4.00% 1/1/2035 |  | 4635 | 5034 |
| Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2021-A, 5.00% 7/1/2031 |  | 4555 | 5144 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2027 |  | 530 | 575 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2028 |  | 625 | 688 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.25% 7/1/2033 |  | 855 | 997 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.25% 7/1/2034 |  | 2415 | 2797 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.25% 7/1/2035 |  | 725 | 830 |
| School Bond Auth., Higher Education Facs., Second Program Bonds, Series 2015-B, 5.00% 11/1/2045 (preref. 11/1/2025) |  | 3030 | 3240 |
| Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 5/1/2052 (put 11/1/2031) |  | 23000 | 24680 |
|  |  |  | **75286** |
| **Texas 11.71%** |  |  |  |
| Abilene Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2025 |  | 2000 | 2105 |
| Alamo Community College Dist., Limited Tax and Rev. Ref. Bonds, Series 2017, 5.00% 8/15/2028 |  | 8625 | 9652 |
| Alamo Community College Dist., Maintenance Tax Notes, Series 2022, 5.00% 2/15/2030 |  | 3750 | 4418 |
| Alvarado Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2023 |  | 795 | 796 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2025 |  | 600 | 632 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2027 |  | 225 | 249 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2028 |  | 500 | 566 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2029 |  | 700 | 806 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2030 |  | 350 | 410 |
| Alvin Independent School Dist., Unlimited Tax Schoolhouse Bonds, Series 2014-B, 0.45% 2/15/2036 (put 8/15/2023) |  | 3520 | 3464 |
| Angleton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2025 |  | 620 | 652 |
| Angleton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2026 |  | 1545 | 1668 |
| Angleton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2027 |  | 1070 | 1181 |

---

76 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2023 | USD | 885 | $903 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2024 |  | 400 | 419 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2026 |  | 400 | 433 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2027 |  | 375 | 394 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2028 |  | 400 | 424 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2028 |  | 595 | 670 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2021-A, 4.00% 8/15/2029 |  | 360 | 384 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2029 |  | 235 | 269 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 5.00% 8/15/2027 |  | 2310 | 2569 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 8/15/2027 |  | 1280 | 1424 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 8/15/2028 |  | 750 | 851 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 8/15/2029 |  | 1310 | 1513 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 8/15/2030 |  | 830 | 970 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 5.00% 8/15/2031 |  | 445 | 527 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2027 |  | 500 | 556 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2028 |  | 650 | 737 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2030 |  | 850 | 980 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2031 |  | 880 | 1012 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 2.75% 12/1/2026 |  | 470 | 459 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2017-B, 5.00% 12/1/2026 |  | 450 | 492 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2027 |  | 460 | 486 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2017-B, 5.00% 12/1/2027 |  | 250 | 277 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2028 |  | 475 | 502 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2029 |  | 395 | 416 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2033 |  | 585 | 608 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2034 |  | 605 | 626 |
| Arlington Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2026 |  | 325 | 352 |
| Arlington Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 2/15/2028 |  | 1125 | 1218 |
| City of Arlington, Permanent Improvement Bonds, Series 2021-A, 5.00% 8/15/2030 |  | 1450 | 1717 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2033 |  | 1205 | 1460 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2034 |  | 2000 | 2404 |
| Aubrey Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2035 |  | 1500 | 1779 |
| Austin Affordable PFC, Inc., Multi Family Housing Rev. Bonds (Bridge at Turtle Creek Apartments), Series 2020, 0.42% 12/1/2040 (put 12/1/2023) |  | 13115 | 12754 |
| Austin Community College Dist., Maintenance Tax Notes, Series 2021, 5.00% 8/1/2030 |  | 1000 | 1186 |
| Austin Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/1/2029 |  | 1000 | 1169 |
| Austin Independent School Dist., Unlimited Tax School Building Bonds, Series 2023, 5.00% 8/1/2030 |  | 1000 | 1192 |
| City of Austin, Electric Utility System Rev. Ref. and Improvement Bonds, Series 2020-A, 5.00% 11/15/2029 |  | 2000 | 2331 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2029 |  | 1000 | 1166 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2015-A, 5.00% 5/15/2030 |  | 3700 | 3976 |
| Barbers Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2033 |  | 2190 | 2652 |
| Barbers Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2034 |  | 6750 | 8137 |
| Barbers Hill Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2035 |  | 4085 | 4874 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-A, 2.50% 10/1/2031 |  | 750 | 657 |

---

<br> American Funds Tax-Exempt Funds 77

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2020, 5.00% 2/15/2023 | USD | 900 | $901 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2020, 5.00% 2/15/2023 |  | 710 | 711 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2025 |  | 1260 | 1324 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2031 |  | 2480 | 2777 |
| City of Bryan, Electric System Rev. Bonds, Series 2021, BAM insured, 5.00% 7/1/2025 |  | 235 | 250 |
| City of Bryan, Electric System Rev. Bonds, Series 2021, BAM insured, 5.00% 7/1/2028 |  | 265 | 300 |
| Cameron County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Sunland Country Apartments), Series 2021, 0.28% 2/1/2024 (put 8/1/2023) |  | 3560 | 3496 |
| Canyon Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2027 |  | 1000 | 1109 |
| Capital Area Housing Fin. Corp., Multi Family Housing Rev. Bonds (Redwood Apartments), Series 2020, 0.41% 1/1/2041 (put 1/1/2024) |  | 30585 | 29619 |
| Carrollton-Farmers Branch Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2023 |  | 2565 | 2567 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2024 |  | 1000 | 1023 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2025 |  | 1000 | 1041 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2026 |  | 1500 | 1600 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2028 |  | 1095 | 1211 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2030 |  | 2125 | 2422 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2031 |  | 3000 | 3467 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2032 |  | 520 | 604 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2021-D, 5.00% 1/1/2033 |  | 2770 | 3205 |
| Clear Creek Independent School Dist., Unlimited Tax School Building Bonds, Series 2013-B, 0.28% 2/15/2038 (put 8/15/2024) |  | 4165 | 3964 |
| Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2017, 5.00% 8/15/2027 |  | 1360 | 1509 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2023 |  | 270 | 273 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2024 |  | 295 | 306 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2018, 5.00% 8/15/2025 |  | 1990 | 2116 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2025 |  | 315 | 335 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 5.00% 8/15/2026 |  | 4800 | 5222 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2026 |  | 245 | 267 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2018, 5.00% 8/15/2027 |  | 1150 | 1276 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2027 |  | 315 | 350 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 5.00% 8/15/2027 |  | 500 | 542 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 5.00% 8/15/2028 |  | 2535 | 2864 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2028 |  | 410 | 463 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 5.00% 8/15/2028 |  | 300 | 330 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2029 |  | 470 | 539 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 5.00% 8/15/2029 |  | 315 | 350 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2030 |  | 250 | 292 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 5.00% 8/15/2030 |  | 385 | 432 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 5.00% 8/15/2031 |  | 575 | 682 |
| Collin County Community College Dist., G.O. Bonds, Series 2020-A, 5.00% 8/15/2030 |  | 1500 | 1757 |
| Collin County Community College Dist., G.O. Bonds, Series 2020-A, 5.00% 8/15/2031 |  | 1250 | 1462 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-A, 2.50% 10/1/2031 |  | 615 | 532 |
| Corpus Christi Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2027 |  | 675 | 756 |
| Corpus Christi Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2028 |  | 2125 | 2432 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2027 |  | 490 | 546 |
| Crandall Independent School Dist., Unlimited Tax School Building Bonds, Series 2022-A. 5.00% 8/15/2035 |  | 1085 | 1284 |
| Crowley Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016-B, 4.00% 8/1/2039 (preref. 8/1/2025) |  | 1665 | 1735 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2028 |  | 310 | 354 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2029 |  | 400 | 461 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2031 |  | 1045 | 1203 |
| Crowley Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/1/2032 |  | 855 | 983 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2024 |  | 3100 | 3184 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2026 |  | 1000 | 1083 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2027 |  | 1000 | 1109 |

---

78 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2015-B-1, 0.28% 2/15/2040 (put 8/15/2024) | USD | 1895 | $1804 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2015-B-2, 0.28% 2/15/2040 (put 8/15/2024) |  | 4465 | 4250 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. Bonds, Series 2014-A, AMT, 5.25% 11/1/2026 |  | 2000 | 2033 |
| Dallas Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 8/15/2034 (preref. 8/15/2024) |  | 1000 | 1040 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2028 |  | 930 | 1059 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2029 |  | 1750 | 2033 |
| Dallas Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2023, 5.00% 2/15/2030 |  | 2250 | 2666 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Estates at Shiloh), Series 2019, 1.75% 7/1/2037 (put 7/1/2023) |  | 5315 | 5277 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Highpoint at Wynnewood), Series 2022, 3.50% 2/1/2044 (put 2/1/2026) |  | 2320 | 2335 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Midpark Towers), Series 2021, 0.35% 1/1/2024 (put 7/1/2023) |  | 6845 | 6744 |
| Deer Park Independent School Dist., Limited Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 2/15/2030 |  | 1635 | 1920 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2028 |  | 370 | 419 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 8/15/2028 |  | 455 | 515 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2029 |  | 775 | 893 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 8/15/2029 |  | 460 | 530 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 5.00% 8/15/2030 |  | 450 | 519 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 5.00% 8/15/2030 |  | 505 | 583 |
| Del Valle Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 6/15/2027 |  | 1000 | 1120 |
| City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 12/1/2028 |  | 7320 | 7999 |
| Denton County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Pathway on Woodrow Apartments), Series 2022, 5.00% 2/1/2026 (put 2/1/2025) |  | 3845 | 3987 |
| Dumas Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/1/2026 |  | 1435 | 1549 |
| Dumas Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/1/2027 |  | 1505 | 1663 |
| Dumas Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/1/2028 |  | 1335 | 1509 |
| Eagle Mountain-Saginaw Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2027 |  | 600 | 671 |
| Eagle Mountain-Saginaw Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2028 |  | 1000 | 1141 |
| Eagle Mountain-Saginaw Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2030 |  | 1010 | 1145 |
| City of El Paso, Combination Tax and Rev. Bonds Certs. of Obligation, Series 2021-A, 5.00% 8/15/2027 |  | 275 | 307 |
| City of El Paso, Combination Tax and Rev. Bonds Certs. of Obligation, Series 2021-A, 5.00% 8/15/2028 |  | 350 | 399 |
| City of El Paso, Combination Tax and Rev. Bonds Certs. of Obligation, Series 2021-A, 5.00% 8/15/2029 |  | 425 | 495 |
| El Paso Independent School Dist., Maintenance Tax Notes, Series 2020, 2.00% 2/1/2040 (put 8/1/2023) |  | 2560 | 2527 |
| El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2027 |  | 1000 | 1121 |
| Forney Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020-A, 5.00% 8/15/2029 |  | 1255 | 1466 |
| Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2031 |  | 1000 | 1191 |
| Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 4.00% 3/1/2032 |  | 500 | 553 |
| Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 4.00% 3/1/2033 |  | 1000 | 1096 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 8/1/2051 (put 8/1/2026) |  | 14525 | 13151 |
| Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020-B, 0.875% 8/1/2050 (put 8/1/2025) |  | 5740 | 5428 |
| Fort Bend Independent School Dist., Unlimited Tax School Building Bonds, Series 2020-A, 5.00% 8/15/2028 |  | 1635 | 1867 |
| Fort Worth Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-A, 5.00% 2/15/2027 |  | 1075 | 1192 |
| G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 8/1/2028 |  | 1500 | 1562 |
| G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 8/1/2029 |  | 1500 | 1560 |
| G.O. Water Financial Assistance Rev. Ref. Bonds, Series 2021-B, 4.00% 8/1/2030 |  | 630 | 654 |
| Galveston Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/1/2032 |  | 1360 | 1595 |
| Galveston Public Fac. Corp., Multi Family Housing Rev. Bonds (The Orleanders at Broadway), Series 2021, 0.47% 8/1/2025 (put 8/1/2024) |  | 6140 | 5866 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2028 |  | 275 | 307 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2029 |  | 385 | 439 |

---

<br> American Funds Tax-Exempt Funds 79

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2030 | USD | 375 | $434 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2031 |  | 625 | 736 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 5.00% 3/1/2032 |  | 720 | 846 |
| City of Garland, Tax and Rev. Certs. of Obligation, Series 2021, 5.00% 2/15/2024 |  | 1365 | 1400 |
| Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2028 |  | 1060 | 1202 |
| Goose Creek Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2014-B, 0.60% 2/15/2035 (put 8/17/2026) |  | 3190 | 2976 |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Bonds, Series 2013-B, 5.00% 4/1/2053 (preref. 10/1/2023) |  | 2140 | 2176 |
| Harlandale Independent School Dist., Maintenance Tax Notes, Series 2021, BAM insured, 2.00% 8/15/2040 (put 8/15/2024) |  | 1745 | 1727 |
| Harlandale Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 0.75% 8/15/2045 (put 8/15/2025) |  | 4570 | 4375 |
| Harlingen Consolidated Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2032 |  | 1000 | 1161 |
| County of Harris, Flood Control Dist., Improvement Rev. Ref. Bonds, Series 2020-A, 5.00% 10/1/2027 |  | 910 | 1024 |
| County of Harris, Metropolitan Transit Auth., Sales and Use Tax Contractual Obligations, Series 2015-B, 5.00% 11/1/2025 |  | 810 | 870 |
| County of Harris, Metropolitan Transit Auth., Sales and Use Tax Contractual Obligations, Series 2014, 5.00% 11/1/2027 (preref. 11/1/2024) |  | 1140 | 1191 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 11/15/2024 |  | 3000 | 3122 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2020, 5.00% 6/1/2023 |  | 1000 | 1007 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2019-B, 5.00% 10/1/2041 (put 10/1/2024) |  | 5440 | 5638 |
| Harris County Cultural Education Facs. Fin. Corp., Medical Facs. Mortgage Rev. Ref. Bonds (Baylor College of Medicine), Series 2019-A, (3-month USD-LIBOR x 0.70 + 0.65%) 3.708% 11/15/2046 (put 7/1/2024)<sup>2</sup> |  | 5485 | 5501 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Bonds (Texas Medical Center), Series 2020-A, 0.90% 5/15/2050 (put 5/15/2025) |  | 4590 | 4332 |
| Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (CHRISTUS Health), Series 2005-A-4, Assured Guaranty Municipal insured, 3.39% 7/1/2031<sup>2</sup> |  | 125 | 125 |
| Hays Consolidated Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2017, 5.00% 2/15/2027 |  | 1790 | 1987 |
| Hays Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 4.00% 2/15/2031 |  | 1230 | 1330 |
| Hays Consolidated Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2035 |  | 1000 | 1174 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Corona Del Valle), Series 2021, 0.37% 8/1/2025 (put 8/1/2023) |  | 1885 | 1852 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Palladium Simpson Stuart Apartments), Series 2021, 0.35% 1/1/2025 (put 1/1/2024) |  | 6425 | 6219 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (The Park at Kirkstall), Series 2021, 0.65% 12/1/2025 (put 12/1/2024) |  | 11650 | 10989 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2019-A, 4.75% 1/1/2049 |  | 2115 | 2174 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 18035 | 17745 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2018-A, 4.75% 3/1/2049 |  | 5260 | 5387 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 3/1/2050 |  | 8730 | 8895 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 3/1/2051 |  | 7615 | 7632 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 19065 | 18745 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-A, 5.50% 9/1/2052 |  | 1700 | 1869 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-B, 6.00% 3/1/2053 |  | 10050 | 11416 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021, 0.50% 8/1/2041 (put 3/1/2025) |  | 2540 | 2355 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Estelle Village Apartments), Series 2022, 3.90% 2/1/2026 (put 2/1/2025) |  | 11200 | 11332 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2018-A, AMT, 5.00% 7/1/2028 |  | 1000 | 1101 |
| City of Houston, Airport System Rev. Bonds, Series 2018-C, AMT, BAM insured, 5.00% 7/1/2025 |  | 1250 | 1310 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2026 |  | 1380 | 1471 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2029 |  | 1500 | 1648 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 7/1/2029 |  | 1700 | 1893 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2030 |  | 1035 | 1133 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2020-A, AMT, 5.00% 7/1/2030 |  | 3440 | 3882 |

---

80 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2036 | USD | 2000 | $2212 |
| City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2027 |  | 500 | 549 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 1998-A, Assured Guaranty Municipal insured, 0% 12/1/2024 (escrowed to maturity) |  | 2500 | 2393 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2027 |  | 550 | 616 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2028 |  | 500 | 572 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2029 |  | 490 | 571 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2030 |  | 650 | 757 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2025 |  | 85 | 88 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2026 |  | 140 | 147 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2028 |  | 355 | 380 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2030 |  | 280 | 304 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2031 |  | 160 | 175 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2027 |  | 2460 | 2630 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2027 |  | 1050 | 1143 |
| City of Houston, Memorial City Redev. Auth., Tax Increment Contract Rev. and Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2028 |  | 1250 | 1383 |
| City of Houston, Water and Sewer System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, Assured Guaranty Municipal insured, 0% 12/1/2028 (escrowed to maturity) |  | 1300 | 1135 |
| Houston Housing Fin. Corp., Multi Family Housing Rev. Bonds (Temenos Place Apartments), Series 2021, 0.29% 8/1/2024 (put 8/1/2023) |  | 8190 | 8043 |
| Humble Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2034 |  | 2260 | 2716 |
| Hurst-Euless-Bedford Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2026 |  | 1250 | 1371 |
| Hutto Independent School Dist., Unlimited Tax School Building Bonds, Series 2015, 2.00% 2/1/2055 (put 8/1/2025) |  | 3750 | 3680 |
| Irving Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016, 5.00% 2/15/2027 |  | 1350 | 1460 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 5.00% 2/15/2031 |  | 1000 | 1146 |
| Kaufman Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2016, 5.00% 2/15/2028 |  | 1445 | 1559 |
| Kilgore Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2026 |  | 205 | 222 |
| Lake Travis Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2026 |  | 1110 | 1199 |
| Lewisville Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2024 |  | 2500 | 2601 |
| Longview Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2023 |  | 575 | 576 |
| Love Field Airport Modernization Corp., General Airport Rev. Bonds, Series 2017, AMT, 5.00% 11/1/2026 |  | 1000 | 1073 |
| Love Field Airport Modernization Corp., General Airport Rev. Ref. Bonds, Series 2021, AMT, Assured Guaranty Municipal insured, 5.00% 11/1/2032 |  | 7865 | 8998 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2022, Assured Guaranty Municipal insured, 5.00% 5/15/2031 |  | 1800 | 2160 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2024 |  | 2505 | 2581 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2029 |  | 1000 | 1154 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2030 |  | 1000 | 1176 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020, 5.00% 5/15/2033 |  | 2010 | 2285 |
| Lumberton Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2029 |  | 1310 | 1521 |
| Manor Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 8/1/2029 |  | 2915 | 3357 |
| Manor Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 8/1/2032 |  | 575 | 703 |
| Manor Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 8/1/2034 |  | 1615 | 1953 |
| Mansfield Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015, 5.00% 2/15/2028 (preref. 2/15/2025) |  | 2415 | 2541 |
| Mansfield Independent School Dist., Unlimited Tax School Building Bonds, Series 2014, 5.00% 2/15/2034 (preref. 2/15/2024) |  | 1290 | 1323 |

---

<br> American Funds Tax-Exempt Funds 81

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (Central Power and Light Co. Project), Series 1996, AMT, 0.90% 5/1/2030 (put 9/1/2023) | USD | 4545 | $4456 |
| McAllen Independent School Dist., Maintenance Tax Notes, Series 2020, 5.00% 2/15/2026 |  | 895 | 964 |
| City of Mckinney, Waterworks and Sewer System Rev. Bonds, Series 2022, 5.00% 3/15/2029 |  | 400 | 459 |
| Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 0.82% 2/15/2051 (put 2/15/2026) |  | 4515 | 4165 |
| Midland County Public Fac. Corp., Multi Family Housing Rev. Bonds (Palladium at West Francis), Series 2020, 0.35% 6/1/2024 (put 6/1/2023) |  | 4000 | 3953 |
| Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 12/15/2026 |  | 3375 | 3588 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-B, (SIFMA Municipal Swap Index + 0.55%) 2.21% 9/15/2027<sup>2</sup> |  | 1885 | 1840 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2025 |  | 1215 | 1262 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 2.00% 9/1/2033 |  | 1790 | 1556 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2034 |  | 1040 | 1012 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2036 |  | 1345 | 1235 |
| Nederland Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 8/15/2029 |  | 1150 | 1344 |
| Nederland Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 8/15/2030 |  | 1000 | 1173 |
| Nederland Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 8/15/2031 |  | 1075 | 1260 |
| Nederland Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 4.00% 8/15/2032 |  | 1000 | 1090 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series 2017-A, 5.00% 8/15/2028 |  | 1500 | 1658 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2023 |  | 500 | 504 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2024 |  | 625 | 634 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2027 |  | 1230 | 1259 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2028 |  | 1675 | 1705 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Stephenville III, LLC - Tarleton State University Project), Series 2015-A, 5.00% 4/1/2030 (preref. 4/1/2025) |  | 800 | 841 |
| North Central Texas Health Facs. Dev. Corp., Hospital Rev. Bonds (Presbyterian Healthcare System Project), Series 1996, National insured, 5.75% 6/1/2026 (escrowed to maturity) |  | 4070 | 4308 |
| North Central Texas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Bluebonnet Ridge Apartments), Series 2021, 0.375% 8/1/2040 (put 8/1/2024) |  | 2880 | 2733 |
| North East Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2019-A, 4.00% 8/1/2032 |  | 215 | 230 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 5.00% 12/15/2028 |  | 1000 | 1149 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 5.00% 12/15/2031 |  | 850 | 1025 |
| North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 12/15/2034 |  | 950 | 1023 |
| North Texas Municipal Water Dist., Contract Rev. Bonds (Sabine Creek Regional Wastewater System), Series 2022, Assured Guaranty Municipal insured, 5.00% 6/1/2030 |  | 1000 | 1169 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2027 |  | 1000 | 1097 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 1/1/2029 |  | 2000 | 2278 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2027 |  | 1000 | 1021 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2028 |  | 2000 | 2145 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2030 |  | 300 | 313 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-D, Assured Guaranty insured, 0% 1/1/2030 |  | 4500 | 3676 |
| Northside Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/1/2027 |  | 850 | 950 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 4.00% 6/1/2035 |  | 1705 | 1790 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 0.70% 6/1/2050 (put 6/1/2025) |  | 7415 | 7003 |
| Northwest Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 2/15/2031 (preref. 2/15/2025) |  | 1000 | 1053 |
| Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2030 |  | 1070 | 1262 |
| Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 5.00% 2/15/2031 |  | 1000 | 1178 |

---

82 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Northwest Independent School Dist., Unlimited Tax School Building Bonds, Series 2013, 5.00% 2/15/2038 (preref. 2/15/2023) | USD | 700 | $701 |
| County of Nueces, Combination Tax and Limited Tax Rev. Ref. Certs. of Obligation, Series 2021-A, 5.00% 2/15/2029 |  | 460 | 526 |
| Odessa Housing Fin. Corp., Multi Family Housing Rev. Bonds (Cove in Odessa Apartments), Series 2021, 0.37% 2/1/2024 (put 9/1/2023) |  | 7725 | 7546 |
| Pasadena Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2029 |  | 2085 | 2418 |
| Pasadena Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2013, 5.00% 2/15/2038 |  | 8240 | 8247 |
| Pearsall Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 8/15/2030 |  | 1275 | 1480 |
| Pflugerville Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-A, 5.00% 2/15/2023 |  | 1715 | 1717 |
| Plano Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 2/15/2023 |  | 3690 | 3693 |
| Plano Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016-A, 5.00% 2/15/2029 |  | 1065 | 1153 |
| Plano Public Fac. Corp., Multi Family Housing Rev. Bonds (K Avenue Lofts), Series 2021, 0.65% 12/1/2041 (put 12/1/2024) |  | 9500 | 9211 |
| Prosper Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2035 |  | 3680 | 4368 |
| Prosper Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-B, 2.00% 2/15/2050 (put 8/15/2023) |  | 3145 | 3125 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2028 |  | 1400 | 1571 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2029 |  | 1495 | 1709 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2030 |  | 950 | 1085 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2031 |  | 1450 | 1656 |
| City of San Antonio, Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 7/1/2028 |  | 1250 | 1379 |
| City of San Antonio, Combination Tax and Rev. Certs. of Obligation, Series 2020, 5.00% 8/1/2028 |  | 1030 | 1177 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2013, 5.00% 2/1/2048 (preref. 2/1/2023) |  | 4345 | 4345 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2023 |  | 3000 | 3000 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2025 |  | 1705 | 1792 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2027 |  | 180 | 198 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2028 |  | 1000 | 1124 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2029 |  | 1135 | 1302 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2032 |  | 380 | 458 |
| City of San Antonio, Passenger Fac. Charge and Airport System Rev. Ref. Bonds, Series 2019-A, AMT, 5.00% 7/1/2029 |  | 1000 | 1114 |
| City of San Antonio, Water System Rev. Ref. Bonds, Series 2019-C, 5.00% 5/15/2025 |  | 875 | 928 |
| City of San Antonio, Water System Rev. Ref. Bonds, Series 2019-C, 5.00% 5/15/2026 |  | 1000 | 1089 |
| City of San Antonio, Water System Rev. Ref. Bonds, Series 2019-C, 5.00% 5/15/2027 |  | 1000 | 1113 |
| San Antonio Housing Trust Fin. Corp., Multi Family Housing Rev. Bonds (The Arbors at West Avenue Apartments), Series 2022, 1.45% 3/1/2026 (put 3/1/2025) |  | 2400 | 2308 |
| San Antonio Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020-B, 5.00% 8/15/2028 |  | 1875 | 2152 |
| San Antonio Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020-B, 5.00% 8/15/2029 |  | 2500 | 2914 |
| Spring Branch Independent School Dist., Unlimited Tax Schoolhouse Bonds, Series 2019, 5.00% 2/1/2027 |  | 1725 | 1909 |
| Spring Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2024 |  | 1500 | 1560 |
| Spring Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2031 |  | 1850 | 2110 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2030 |  | 280 | 289 |
| Tantum Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2019, 4.00% 2/15/2023 |  | 1145 | 1146 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2016-A, 5.00% 11/15/2029 |  | 5020 | 5389 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2022-E, 5.00% 11/15/2052 (put 5/15/2026) |  | 9315 | 9933 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2022-F, 5.00% 11/15/2052 (put 11/15/2030) |  | 6965 | 7961 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Cook Children's Medical Center), Series 2020, 4.00% 12/1/2034 |  | 2000 | 2094 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Bonds (Christus Health), Series 2022-A, 5.00% 7/1/2053 (put 7/1/2032) |  | 15990 | 18341 |
| Tarrant County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Christus Health), Series 2018-A, 5.00% 7/1/2023 |  | 850 | 858 |
| Tarrant Regional Water Dist., Water Transmission Fac. Contract Rev. Bonds (City of Dallas Project), Series 2021-A, 4.00% 9/1/2024 |  | 1410 | 1447 |
| Temple Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/1/2032 |  | 1560 | 1862 |
| Temple Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/1/2033 |  | 1500 | 1785 |
| Temple Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/1/2034 |  | 1865 | 2211 |

---

<br> American Funds Tax-Exempt Funds 83

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Texas City Independent School Dist., Unlimited Tax School Building Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2025 | USD | 1500 | $1600 |
| Board of Regents of the Texas A&M University System, Rev. Fncg. System Bonds, Series 2015-B, 5.00% 5/15/2025 (preref. 5/15/2023) |  | 1600 | 1612 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 3/15/2026 |  | 1425 | 1544 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2023 |  | 2360 | 2362 |
| Tomball Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 5.00% 2/15/2024 |  | 780 | 801 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2025 |  | 1000 | 1030 |
| Transportation Commission, Highway Improvement G.O. Bonds, Series 2016-A, 5.00% 4/1/2028 |  | 1000 | 1083 |
| Travis County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Airport Gateway Apartments), Series 2022, 4.125% 6/1/2045 (put 6/1/2027) |  | 3850 | 3925 |
| Travis County Strategic Housing Fin. Corp., Multi Family Housing Rev. Bonds (Yager Flats), Series 2021, 0.46% 9/1/2041 (put 2/1/2025) |  | 28045 | 26323 |
| Trinity River Auth., Regional Wastewater System Rev. Improvement and Rev. Ref. Bonds, Series 2019, 5.00% 8/1/2027 |  | 1250 | 1399 |
| Trinity River Auth., Regional Wastewater System Rev. Ref. Bonds, Series 2021, 5.00% 8/1/2031 |  | 2195 | 2638 |
| Trinity River Auth., Rev. Ref. Bonds (Tarrant County Water Project), Series 2015, 5.00% 2/1/2025 |  | 1710 | 1799 |
| Trinity River Public Fac. Corp., Multi Family Housing Rev. Bonds (Cowan Place Apartments), Series 2021, 0.28% 10/1/2024 (put 10/1/2023) |  | 5000 | 4876 |
| United Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2025 |  | 1030 | 1101 |
| United Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2026 |  | 1420 | 1557 |
| United Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 8/15/2027 |  | 1490 | 1671 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2017-C, 5.00% 2/15/2028 |  | 2665 | 2871 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2017-A, 5.00% 4/15/2024 |  | 1665 | 1718 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2017-A, 5.00% 4/15/2025 |  | 1255 | 1326 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2025 |  | 240 | 254 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2026 |  | 760 | 825 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2022-A, 4.00% 8/15/2036 |  | 1810 | 1942 |
| Upper Trinity Regional Water Dist., Treated Water Supply System Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 8/1/2028 |  | 815 | 927 |
| Upper Trinity Regional Water Dist., Treated Water Supply System Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 8/1/2029 |  | 465 | 539 |
| Waco Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016, 5.00% 8/15/2027 |  | 1615 | 1767 |
| Waco Public Facs. Corp. II, Multi Family Housing Rev. Bonds (Trendwood Apartments), Series 2022, 3.50% 8/1/2025 (put 8/1/2024) |  | 9860 | 9892 |
| Waller Independent School Dist., Unlimited Tax School Building Bonds, Series 2020-A, 5.00% 2/15/2030 |  | 1820 | 2141 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2018, 5.00% 8/1/2030 |  | 2760 | 3079 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-B, 5.00% 4/15/2023 |  | 1455 | 1463 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 5.00% 10/15/2029 |  | 5030 | 5699 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 5.00% 4/15/2030 |  | 2490 | 2937 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 5.00% 4/15/2031 |  | 1445 | 1736 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2020, 4.00% 10/15/2031 |  | 4835 | 5383 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 5.00% 10/15/2031 |  | 1600 | 1939 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 5.00% 10/15/2032 |  | 1405 | 1698 |
| Willis Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 5.00% 2/15/2034 |  | 500 | 593 |
|  |  |  | **836064** |
| **United States 0.04%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class ACA, 3.35% 11/25/2033 |  | **2852** | **2746** |

---

84 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Utah 0.97%** |  |  |  |
| Board of Higher Education, General Rev. Green Bonds (University of Utah), Series 2022-A, 5.00% 8/1/2033 | USD | 1750 | $2096 |
| Canyons School Dist., Local Building Auth., Lease Rev. Bonds, Series 2021, 5.00% 6/15/2029 |  | 2640 | 3079 |
| Central Valley Water Reclamation Fac., Sewer Rev. Green Bonds , Series 2021-C, 5.00% 3/1/2026 |  | 500 | 542 |
| Central Valley Water Reclamation Fac., Sewer Rev. Green Bonds , Series 2021-C, 5.00% 3/1/2027 |  | 555 | 616 |
| Housing Corp., Multi Family Housing Rev. Bonds (Fellowship Manor Apartments), Series 2022, 2.00% 10/1/2024 (put 10/1/2023) |  | 7031 | 6991 |
| Housing Corp., Multi Family Housing Rev. Bonds (New City Plaza Apartments Project), Series 2021, 3.50% 8/1/2025 (put 8/1/2024) |  | 24100 | 24139 |
| Housing Corp., Multi Family Housing Rev. Bonds (Three Link Towers Apartments), Series 2022, 2.00% 10/1/2024 (put 10/1/2023) |  | 14177 | 14096 |
| Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 1/1/2045 |  | 105 | 106 |
| Provo City School Dist., G.O. Bonds, Series 2021, 5.00% 6/15/2029 |  | 1575 | 1837 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 7/1/2025 |  | 450 | 477 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 7/1/2026 |  | 620 | 674 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2028 |  | 2800 | 3068 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2017-A, AMT, 5.00% 7/1/2029 |  | 2130 | 2298 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2029 |  | 1000 | 1111 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2030 |  | 1990 | 2240 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2028 |  | 500 | 560 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2029 |  | 470 | 534 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2031 |  | 390 | 456 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2032 |  | 500 | 592 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.25% 6/1/2033 |  | 600 | 721 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.25% 6/1/2034 |  | 500 | 597 |
| Transit Auth., Sales Tax Rev. Bonds, Series 2008-A, 5.25% 6/15/2023 |  | 805 | 813 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2026 |  | 750 | 811 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2030 |  | 250 | 291 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2031 |  | 140 | 165 |
|  |  |  | **68910** |
| **Vermont 0.13%** |  |  |  |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2017-A, AMT, 4.00% 11/1/2047 |  | 1840 | 1841 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2018-A, 4.00% 11/1/2048 |  | 960 | 968 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2019-A, 4.00% 11/1/2049 |  | 1900 | 1934 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2020-A, 3.75% 11/1/2050 |  | 1200 | 1209 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2027 |  | 400 | 432 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2028 |  | 490 | 530 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2029 |  | 500 | 546 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2022-A, AMT, 5.00% 6/15/2031 |  | 960 | 1050 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.375% 6/15/2039 |  | 470 | 419 |
|  |  |  | **8929** |
| **Virginia 1.66%** |  |  |  |
| County of Amelia, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.45% 4/1/2027 |  | 1810 | 1627 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 7/1/2027 |  | 1000 | 1095 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 7/1/2031 |  | 600 | 690 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 7/1/2032 |  | 1900 | 2180 |

---

<br> American Funds Tax-Exempt Funds 85

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| County of Charles City, Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2004-A, 2.875% 2/1/2029 | USD | 5400 | $5005 |
| County of Charles City, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.45% 4/1/2027 |  | 1250 | 1123 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2013-A, 4.50% 2/1/2033 (preref. 2/1/2023) |  | 3865 | 3865 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2013-A, 4.50% 2/1/2034 (preref. 2/1/2023) |  | 2020 | 2020 |
| College Building Auth., Educational Facs. Rev. Bonds (Regent University Project), Series 2021, 5.00% 6/1/2027 |  | 290 | 305 |
| College Building Auth., Educational Facs. Rev. Bonds (Regent University Project), Series 2021, 5.00% 6/1/2029 |  | 375 | 399 |
| College Building Auth., Educational Facs. Rev. Bonds (Regent University Project), Series 2021, 5.00% 6/1/2030 |  | 375 | 401 |
| County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Arrowbrook Apartments Project), Series 2020, 0.41% 1/1/2041 (put 1/1/2024) |  | 10850 | 10437 |
| County of Fairfax, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Oakwood North Four Project), Series 2021, 0.41% 5/1/2025 (put 5/1/2024) |  | 7570 | 7248 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2028 |  | 1950 | 2045 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2029 |  | 2165 | 2283 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2030 |  | 2275 | 2391 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2031 |  | 1195 | 1252 |
| Hampton Roads Sanitation Dist., Wastewater Rev. Ref. Bonds, Series 2014-A, 5.00% 7/1/2028 (preref. 7/1/2024) |  | 2915 | 3021 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2023 |  | 575 | 581 |
| City of Hopewell, Redev. and Housing Auth., Multi Family Housing Rev. Bonds (Hopewell Heights Apartments), Series 2021-A, 0.49% 12/1/2024 (put 12/1/2023) |  | 8935 | 8684 |
| County of Loudoun, Econ. Dev. Auth., Multi Family Housing Rev. Bonds (The View at Broadlands Project), Series 2022, 2.00% 4/1/2025 (put 4/1/2024) |  | 14360 | 14206 |
| County of Loudoun, G.O. Public Improvement Rev. Ref. Bonds, Series 2020-A, 2.00% 12/1/2034 |  | 1000 | 852 |
| Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), Series 2008-A, 1.90% 11/1/2035 (put 6/1/2023) |  | 4000 | 3977 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 5.00% 1/1/2030 |  | 975 | 1088 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 5.00% 1/1/2034 |  | 1425 | 1627 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, 5.00% 12/1/2031 |  | 5000 | 5072 |
| City of Norfolk, G.O. Capital Improvement Bonds, Series 2019, 5.00% 8/1/2044 (preref. 8/1/2028) |  | 1780 | 2045 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2016-C, AMT, 5.00% 8/1/2027 |  | 1125 | 1203 |
| City of Richmond, Public Utility Rev. and Rev. Ref. Bonds, Series 2016-A, 5.00% 1/15/2028 |  | 5500 | 5947 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2023 |  | 235 | 233 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2024 |  | 220 | 215 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 12/1/2031 |  | 2760 | 2651 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2029 |  | 1400 | 1533 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2030 |  | 1650 | 1812 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (95 Express Lanes, LLC Project), Series 2022, AMT, 5.00% 1/1/2032 |  | 3450 | 3853 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (95 Express Lanes, LLC Project), Series 2022, AMT, 5.00% 7/1/2032 |  | 2620 | 2922 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (95 Express Lanes, LLC Project), Series 2022, AMT, 5.00% 1/1/2033 |  | 4000 | 4452 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% 7/1/2030 |  | 2250 | 2306 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% 7/1/2031 |  | 2925 | 3004 |
| Upper Occoquan Sewage Auth., Regional Sewerage System Rev. Ref. Bonds, Series 2014, 4.00% 7/1/2040 (preref. 7/1/2025) |  | 3015 | 3141 |
|  |  |  | **118791** |

---

86 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Washington 2.25%** |  |  |  |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 5.00% 11/1/2029 | USD | 510 | $599 |
| City of Everett, Housing Auth., Multi Family Housing Rev. Bonds (Baker Heights Legacy), Series 2021, 0.30% 9/1/2024 (put 9/1/2023) |  | 2905 | 2844 |
| G.O. Bonds, Series 2019-C, 5.00% 2/1/2031 |  | 5000 | 5787 |
| G.O. Bonds, Series 2023-A, 5.00% 8/1/2032 |  | 4000 | 4938 |
| G.O. Bonds, Series 2019-A, 5.00% 8/1/2033 |  | 4000 | 4545 |
| G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 8/1/2027 |  | 1075 | 1176 |
| County of Grant, Public Utility Dist. No. 2, Electric System Rev. Ref. Bonds, Series 2017-O, 5.00% 1/1/2024 |  | 275 | 281 |
| Health Care Facs. Auth., Rev. Ref. Bonds (PeaceHealth), Series 2014-A, 5.00% 11/15/2026 (preref. 5/15/2024) |  | 1000 | 1031 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-B, 4.00% 10/1/2042 (put 10/1/2030) |  | 13205 | 13980 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Garten Haus Apartments Project), Series 2021, 0.37% 7/1/2024 (put 7/1/2023) |  | 3605 | 3552 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (HopeSource III Portfolio Projects), Series 2022, 1.25% 1/1/2025 (put 1/1/2024) |  | 4240 | 4149 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 12/20/2035 |  | 21622 | 20392 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2024<sup>3</sup> |  | 835 | 842 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2026<sup>3</sup> |  | 1590 | 1625 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2014-2A-R, AMT, 3.50% 6/1/2044 |  | 30 | 30 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2018-1-N, 4.00% 12/1/2048 |  | 2940 | 2971 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2019-1-N, 4.00% 6/1/2049 |  | 5285 | 5346 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 4.00% 12/1/2050 |  | 610 | 620 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051 |  | 7970 | 7831 |
| Housing Fin. Commission, Single Family Program Rev. Ref. Bonds, Series 2015-A-R, AMT, 3.50% 6/1/2038 |  | 150 | 150 |
| Housing Fin. Commission, Single Family Program Rev. Ref. Bonds, Series 2022-1-N, 5.00% 12/1/2052 |  | 4320 | 4638 |
| Northshore School Dist., Unlimited Tax G.O. Rev. Ref. Bonds, Series 2022, 5.00% 12/1/2030 |  | 2075 | 2490 |
| City of Seattle, Housing Auth., Rev. and Rev. Ref. Bonds (Northgate Plaza Project), Series 2021, 1.00% 6/1/2026 |  | 5410 | 5005 |
| City of Seattle, Housing Auth., Rev. Bonds (Lam Bow Apartments Project), Series 2021, 1.25% 6/1/2024 |  | 1180 | 1154 |
| City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2021-B, (SIFMA Municipal Swap Index + 0.25%) 1.91% 5/1/2045 (put 11/1/2026)<sup>2</sup> |  | 7950 | 7800 |
| City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2018-C-2, (SIFMA Municipal Swap Index + 0.49%) 2.15% 11/1/2046 (put 11/1/2023)<sup>2</sup> |  | 4500 | 4501 |
| City of Seattle, Solid Waste System Rev. Ref. Bonds, Series 2021, 5.00% 8/1/2030 |  | 1775 | 2110 |
| Port of Seattle, Rev. and Rev. Ref. Bonds, Series 2021, AMT, 5.00% 8/1/2030 |  | 6345 | 7186 |
| Port of Seattle, Rev. Bonds, Series 2017-C, AMT, 5.00% 5/1/2025 |  | 3165 | 3316 |
| Port of Seattle, Rev. Bonds, Series 2018-A, AMT, 5.00% 5/1/2025 |  | 5250 | 5500 |
| Port of Seattle, Rev. Bonds, Series 2017-C, AMT, 5.00% 5/1/2026 |  | 2500 | 2666 |
| Port of Seattle, Rev. Bonds, Series 2017-C, AMT, 5.00% 5/1/2027 |  | 2500 | 2710 |
| Port of Seattle, Rev. Bonds, Series 2018-A, AMT, 5.00% 5/1/2028 |  | 3050 | 3306 |
| Port of Seattle, Rev. Bonds, Series 2019, AMT, 5.00% 4/1/2030 |  | 2000 | 2224 |
| Port of Seattle, Rev. Ref. Bonds, Series 2015-C, AMT, 5.00% 4/1/2029 |  | 1000 | 1030 |
| Port of Seattle, Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2032 |  | 6345 | 7276 |
| Port of Seattle, Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2033 |  | 5500 | 6283 |
| Port of Seattle, Rev. Ref. Bonds, Series 2022-B, AMT, 5.00% 8/1/2034 |  | 5000 | 5670 |
| Port of Seattle, Special Fac. Rev. Ref. Bonds (SEATAC Fuel Facs., LLC), Series 2013, AMT, 5.00% 6/1/2023 |  | 1100 | 1108 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 4.00% 12/1/2026 |  | 2300 | 2353 |
|  |  |  | **161015** |

---

<br> American Funds Tax-Exempt Funds 87

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **West Virginia 0.21%** |  |  |  |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Appalachian Power Co. - Amos Project), Series 2011-A, AMT, 1.00% 1/1/2041 (put 9/1/2025) | USD | 4425 | $4135 |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Ref. Bonds (Appalachian Power Co. - Amos Project), Series 2015-A, 2.55% 3/1/2040 (put 4/1/2024) |  | 1750 | 1727 |
| G.O. State Road Bonds, Series 2021-A, 5.00% 12/1/2025 |  | 670 | 722 |
| Hospital Fin. Auth., Hospital Rev. and Improvement Bonds (West Virginia University Health System Obligated Group), Series 2017-A, 5.00% 6/1/2032 |  | 1385 | 1479 |
| Housing Dev. Fund, Multi Family Housing Rev. Bonds (Parkland Place / Chapmanville Towers), Series 2021, 0.28% 4/1/2024 (put 4/1/2023) |  | 6875 | 6834 |
|  |  |  | **14897** |
| **Wisconsin 2.13%** |  |  |  |
| G.O. Bonds, Series 2015-A, 5.00% 5/1/2031 (preref. 5/1/2023) |  | 8980 | 9038 |
| G.O. Rev. Ref. Bonds, Series 2017-2, 5.00% 11/1/2027 |  | 100 | 112 |
| G.O. Rev. Ref. Bonds, Series 2017-3, 5.00% 11/1/2027 |  | 1000 | 1117 |
| General Fund Annual Appropriation Rev. Ref. Bonds, Series 2017-B, 5.00% 5/1/2033 |  | 3165 | 3442 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (SSM Health Care), Series 2018-B, 5.00% 6/1/2038 (put 6/1/2023) |  | 7975 | 7985 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-4, (SIFMA Municipal Swap Index + 0.65%) 2.31% 8/15/2054 (put 7/31/2024)<sup>2</sup> |  | 4000 | 4001 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 4.00% 11/15/2039 |  | 1875 | 1884 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 5.00% 11/15/2039 |  | 15000 | 15598 |
| Health and Educational Facs. Auth., Rev. Bonds (Gundersen Lutheran), Series 2020, 5.00% 2/15/2026<sup>3</sup> |  | 15000 | 15585 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group), Series 2018, 5.00% 4/4/2032 |  | 2000 | 2250 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (ProHealth Care, Inc. Obligated Group), Series 2015, 5.00% 8/15/2031 |  | 1650 | 1703 |
| Housing and Econ. Dev. Auth., Home Ownership Mortgage Rev. Bonds, Series 2017-A, 2.69% 7/1/2047 |  | 2926 | 2787 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2015-A, AMT, 4.00% 9/1/2045 |  | 1335 | 1336 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2016-A, AMT, 3.50% 3/1/2046 |  | 1305 | 1298 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 3/1/2048 |  | 3590 | 3615 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-B, 4.00% 3/1/2048 |  | 1645 | 1657 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-A, 4.25% 3/1/2049 |  | 11430 | 11657 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 9/1/2050 |  | 8655 | 8669 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 5985 | 5894 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-C, 3.00% 9/1/2052 |  | 3055 | 3007 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 5/1/2045 (put 11/1/2023) |  | 875 | 852 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.50% 11/1/2050 (put 11/1/2024) |  | 1255 | 1184 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-C, 0.81% 11/1/2052 (put 5/1/2025) |  | 7140 | 6802 |
| City of Milwaukee, Metropolitan Sewerage Dist., G.O. Promissory Notes, Series 2015-A, 3.00% 10/1/2030 |  | 3530 | 3548 |
| County of Milwaukee, Airport Rev. Ref. Bonds, Series 2016-A, AMT, 5.00% 12/1/2023 |  | 1475 | 1499 |
| County of Milwaukee, Airport Rev. Ref. Bonds, Series 2016-A, AMT, 5.00% 12/1/2024 |  | 1550 | 1606 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.00% 7/1/2031 |  | 1000 | 1147 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.00% 7/1/2032 |  | 1080 | 1252 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2033 |  | 1000 | 1175 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2034 |  | 370 | 432 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2035 |  | 1000 | 1154 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2036 |  | 1000 | 1142 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2037 |  | 1000 | 1132 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2025 |  | 810 | 803 |

---

88 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2026 | USD | 245 | $242 |
| Public Fin. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2021-C, 4.00% 10/1/2041 (put 10/1/2030) |  | 9255 | 9798 |
| Public Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2016-A-3, AMT, 1.10% 7/1/2029 (put 6/1/2026) |  | 10620 | 9631 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series 2019-A, Assured Guaranty Municipal insured, 5.00% 7/1/2030 |  | 945 | 1053 |
| University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2021-B, 5.00% 4/1/2029 |  | 2000 | 2292 |
| University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2021-B, 5.00% 4/1/2030 |  | 2155 | 2517 |
| WPPI Energy, Power Supply System Rev. Bonds, Series 2016-A, 5.00% 7/1/2026 |  | 500 | 543 |
|  |  |  | **152439** |
| **Wyoming 0.35%** |  |  |  |
| Community Dev. Auth., Housing Rev. Bonds, Series 2016-1, AMT, 3.50% 12/1/2038 |  | 1190 | 1183 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-3, 3.00% 12/1/2044 |  | 95 | 94 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 6/1/2045 |  | 585 | 586 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2019-1, 4.00% 12/1/2048 |  | 3525 | 3565 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2021-1, 3.00% 6/1/2050 |  | 6760 | 6655 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 12/1/2050 |  | 8425 | 8561 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2023-1, 5.75% 6/1/2053 |  | 3605 | 3988 |
|  |  |  | **24632** |
| **Total bonds, notes & other debt instruments** (cost: $6,404,712,000) |  |  | **6221189** |
| **Short-term securities 13.04%** |  |  |  |
| **Municipals 12.48%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-055, 1.87% 12/15/2028<sup>2,3</sup> |  | 2000 | 2000 |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-B, 1.20% 12/1/2033<sup>2</sup> |  | 2000 | 2000 |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (ExxonMobil Project), Series 2001, 1.21% 12/1/2029<sup>2</sup> |  | 6165 | 6165 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2014-B, 1.23% 11/15/2052<sup>2</sup> |  | 1500 | 1500 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2013, AMT, 4.10% 12/1/2035 (put 11/1/2022)<sup>4</sup> |  | 26205 | 26205 |
| State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 8/1/2023 |  | 1325 | 1308 |
| State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 |  | 40000 | 40268 |
| State of California, County of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/30/2023 |  | 7500 | 7560 |
| State of California, Metropolitan Water Dist. of Southern California, Water Rev. Bonds, Series 2017-C, 1.80% 7/1/2047 (put 5/21/2024)<sup>2,4</sup> |  | 5765 | 5731 |
| State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2021-B, AMT, 3.60% 7/1/2051 (put 7/17/2023)<sup>4</sup> |  | 3000 | 3002 |
| State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2020, AMT, 3.50% 10/1/2045 (put 3/1/2023)<sup>4</sup> |  | 7885 | 7886 |
| State of California, Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2017-A-1, AMT, 3.45% 11/1/2042 (put 4/17/2023)<sup>3,4</sup> |  | 8500 | 8502 |
| State of California, Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2010-A, AMT, 4.10% 8/1/2023 (put 2/1/2023)<sup>3,4</sup> |  | 35000 | 35001 |
| State of California, County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 |  | 15000 | 15163 |
| State of California, San Diego Unified School Dist., Tax and Rev. Anticipation Notes, Series 2022-A, 4.00% 6/30/2023 |  | 8240 | 8292 |
| District of Columbia, Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Strand Residences Project), Series 2019, 2.50% 2/1/2039 (put 8/1/2023)<sup>4</sup> |  | 1500 | 1495 |
| District of Columbia, Water and Sewer Auth., Public Utility Multimodal Rev. Bonds, Series 2014-B-1, 1.65% 10/1/2050<sup>2</sup> |  | 32830 | 32830 |
| State of Florida, Dev. Fin. Corp., Rev. Bonds (Brightline Florida Passenger Rail Expansion Project), Series 2021-A, AMT, 2.90% 12/1/2056 (put 4/4/2023)<sup>4</sup> |  | 18120 | 18109 |
| State of Florida, Miami-Dade County School Dist., Tax Anticipation Notes, Series 2022, 4.00% 2/23/2023 |  | 7500 | 7507 |

---

<br> American Funds Tax-Exempt Funds 89

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of Idaho, Health Facs. Auth., Hospital Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-ID, 3.30% 12/1/2048 (put 2/1/2023)<sup>4</sup> | USD | 21600 | $21598 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 1.31% 8/1/2044<sup>2</sup> |  | 900 | 900 |
| State of Indiana, Fin. Auth., Environmental Rev. Ref. Bonds (Duke Energy Indiana, Inc. Project), Series 2009-A-3, 1.75% 12/1/2039<sup>2</sup> |  | 11320 | 11320 |
| State of Indiana, Fin. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2008-E-8, 1.74% 11/15/2033<sup>2</sup> |  | 5000 | 5000 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-E, 1.15% 2/15/2041<sup>2</sup> |  | 9150 | 9150 |
| State of Louisiana, Parish of East Baton Rouge, Industrial Dev. Board, Gulf Opportunity Zone Rev. Bonds (ExxonMobil Project), Series 2010-B, 1.21% 12/1/2040<sup>2</sup> |  | 5100 | 5100 |
| State of Louisiana, Parish of East Baton Rouge, Industrial Dev. Board, Gulf Opportunity Zone Rev. Bonds (ExxonMobil Project), Series 2011, 1.21% 12/1/2051<sup>2</sup> |  | 5720 | 5720 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-A, 1.23% 8/1/2043<sup>2</sup> |  | 29200 | 29200 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-C, 1.15% 12/1/2043<sup>2</sup> |  | 1875 | 1875 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-B, 1.60% 12/1/2043<sup>2</sup> |  | 5000 | 5000 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2009-A, 1.67% 8/1/2049<sup>2</sup> |  | 17900 | 17900 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2010, 1.60% 8/1/2050<sup>2</sup> |  | 23500 | 23500 |
| State of Massachusetts, Massachusetts Bay Transportation Auth., General Transportation System Bonds, Series 2000-A, 1.79% 3/1/2030<sup>2</sup> |  | 5000 | 5000 |
| State of Michigan, Fin. Auth., State Aid Rev. Notes, Series 2022-A, 5.00% 8/21/2023 |  | 5000 | 5066 |
| State of Michigan, Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Ascension Health Senior Credit Group), Series 2016-E-2, 1.74% 11/15/2047<sup>2</sup> |  | 6675 | 6675 |
| State of Michigan, Strategic Fund, Demand Limited Obligation Rev. Bonds (Air Products and Chemicals, Inc. Project), Series 2007, 1.23% 12/1/2042<sup>2</sup> |  | 21000 | 21000 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2008-A, 1.26% 4/1/2038<sup>2</sup> |  | 1040 | 1040 |
| State of Michigan, Regents of the University of Michigan, Rev. IAM Commercial Paper, Series 2009-B, 2.10% 3/10/2023 |  | 10000 | 10000 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2011-B, 1.65% 11/15/2038<sup>2</sup> |  | 25000 | 25000 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2016, 1.66% 11/15/2047<sup>2</sup> |  | 1915 | 1915 |
| State of Minnesota, City of St. Paul, Housing and Redev. Auth., Health Care System Demand Rev. Bonds (Allina Health System), Series 2009-B-1, JPMorgan Chase LOC, 1.20% 11/15/2035<sup>2</sup> |  | 5335 | 5335 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2007-D, 1.21% 12/1/2030<sup>2</sup> |  | 11280 | 11280 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2009-D, 1.21% 12/1/2030<sup>2</sup> |  | 8500 | 8500 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-E, 1.57% 12/1/2030<sup>2</sup> |  | 5000 | 5000 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-G, 1.20% 11/1/2035<sup>2</sup> |  | 6000 | 6000 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-J, 1.21% 11/1/2035<sup>2</sup> |  | 11600 | 11600 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-E, 1.21% 11/1/2035<sup>2</sup> |  | 11000 | 11000 |
| State of Mississippi, County of Jackson, Port Fac. Rev. Ref. Bonds (Chevron U.S.A., Inc. Project), Series 1993, 1.20% 6/1/2023<sup>2</sup> |  | 9750 | 9750 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), Series 2003-B, 1.21% 2/15/2033<sup>2</sup> |  | 2100 | 2100 |
| State of New Hampshire, National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2020-A-3, AMT, 3.50% 4/1/2024 (put 3/1/2023)<sup>4</sup> |  | 5005 | 5006 |
| State of New York, Dormitory Auth., Rev. Bonds (Fordham University), Series 2008-A-2, 1.59% 7/1/2032<sup>2</sup> |  | 5905 | 5905 |
| State of New York, New York City G.O. Bonds, Series 2006-E-2, 1.25% 8/1/2034<sup>2</sup> |  | 21200 | 21200 |
| State of New York, New York City G.O. Bonds, Series 2006-E-4, 1.62% 8/1/2034<sup>2</sup> |  | 5725 | 5725 |
| State of New York, New York City G.O. Bonds, Series 2012-G-6, 1.19% 4/1/2042<sup>2</sup> |  | 11500 | 11500 |
| State of New York, New York City G.O. Bonds, Series 2016-A-5, 1.25% 8/1/2044<sup>2</sup> |  | 19780 | 19780 |

---

90 American Funds Tax-Exempt Funds

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2008-BB-2, 1.25% 6/15/2035<sup>2</sup> | USD | 3000 | $3000 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2007-CC-1, 1.61% 6/15/2038<sup>2</sup> |  | 24300 | 24300 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2016-AA-1, 1.25% 6/15/2048<sup>2</sup> |  | 18680 | 18680 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-BB-1, 1.25% 6/15/2049<sup>2</sup> |  | 5500 | 5500 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-2, 1.25% 6/15/2050<sup>2</sup> |  | 5150 | 5150 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2014-B-3, 1.25% 11/1/2042<sup>2</sup> |  | 7100 | 7100 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>2</sup> |  | 37115 | 37115 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-E-4, 1.25% 2/1/2045<sup>2</sup> |  | 500 | 500 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-4, 1.25% 8/1/2045<sup>2</sup> |  | 11000 | 11000 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2005-B-2B, 1.25% 1/1/2032<sup>2</sup> |  | 7400 | 7400 |
| State of North Carolina, University of North Carolina Chapel Hill, Rev. Bonds, Series 2001, 1.66% 12/1/2025<sup>2</sup> |  | 3255 | 3255 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 1.19% 1/1/2039<sup>2</sup> |  | 11840 | 11840 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2019-F, 1.19% 1/1/2052<sup>2</sup> |  | 6600 | 6600 |
| State of Pennsylvania, Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2019-A, AMT, 3.45% 4/1/2034 (put 4/17/2023)<sup>4</sup> |  | 9000 | 9002 |
| State of Rhode Island, Health and Educational Building Corp., Health Facs. Rev. Bonds (NRI Community Services, Inc.), Series 2007, 1.69% 6/1/2037<sup>2</sup> |  | 900 | 900 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, 1.20% 5/1/2048<sup>2</sup> |  | 21000 | 21000 |
| State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds (Tennessee County Loan Pool), Series 2004, Bank of America LOC, 1.38% 7/1/2034<sup>2</sup> |  | 985 | 985 |
| State of Texas, City of Dallas, Waterworks and Sewer System Rev. IAM Commercial Paper, Series 2023-F-1, 2.40% 3/23/2023 |  | 5000 | 5000 |
| State of Texas, Grand Parkway Transportation Corp., Bond Anticipation Notes, Series 2018, 5.00% 2/1/2023 (escrowed to maturity) |  | 7000 | 7000 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-A, 1.65% 5/15/2034<sup>2</sup> |  | 24000 | 24000 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 1.66% 5/15/2034<sup>2</sup> |  | 17500 | 17500 |
| State of Texas, Port Arthur Navigation Dist. Industrial Dev. Corp., Rev. Bonds (Air Products Project), Series 2005, 1.23% 5/1/2040<sup>2</sup> |  | 3500 | 3500 |
| State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.52% 7/1/2037<sup>2</sup> |  | 30000 | 30000 |
| State of Texas, Board of Regents of the University of Texas System, Rev. Ref. Bonds, Series 2007-B, 1.58% 8/1/2033<sup>2</sup> |  | 22275 | 22275 |
| State of Texas, Veterans Bonds, Series 2019, 1.65% 6/1/2050<sup>2</sup> |  | 12080 | 12080 |
| State of Virginia, College Building Auth., Educational Facs. Rev. Bonds (University of Richmond Project), Series 2006, 1.21% 11/1/2036<sup>2</sup> |  | 11550 | 11550 |
| State of Wyoming, County of Sublette, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, AMT, 1.25% 10/1/2044<sup>2</sup> |  | 2850 | 2850 |
|  |  |  | **891246** |

---

<br> American Funds Tax-Exempt Funds 91

Limited Term Tax-Exempt Bond Fund of America (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Short-term securities** (continued) | Weighted<br> average yield<br> at acquisition | Weighted<br> average yield<br> at acquisition | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **U.S. Treasury bills 0.56%** |  |  |  |  |  |
| U.S. Treasury 2/7/2023<sup>5</sup> |  | 4.017% | **USD** | **40000** | $**39973** |
| **Total short-term securities** (cost: $931,309,000) |  |  |  |  | **931219** |
| **Total investment securities 100.16%** (cost: $7,336,021,000) | **Total investment securities 100.16%** (cost: $7,336,021,000) |  |  |  | **7152408** |
| **Other assets less liabilities (0.16%)** |  |  |  |  | (11248) |
| **Net assets 100.00%** |  |  |  |  | $**7141160** |

---

**Futures contracts**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 1/31/2023<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Short | 500 | March 2023 | USD | (102824) | $(146) |
| 5 Year U.S. Treasury Note Futures | Long | 11664 | March 2023 |  | 1274201 | 10205 |
| 10 Year U.S. Treasury Note Futures | Long | 400 | March 2023 |  | 45806 | 257 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 1270 | March 2023 |  | (153928) | (66) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 1428 | March 2023 |  | (202419) | (6373) |
|  |  |  |  |  |  | $3877 |

---

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>3</sup> 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 $69,448,000, which represented .97% of the net assets of the fund.

<sup>4</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

<sup>5</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $229,000, which represented less than .01% of the net assets of the fund.

**Key to abbreviations**

Agcy. = Agency

AMT = Alternative Minimum Tax

Assn. = Association

Auth. = Authority

Certs. = Certificates

Dept. = Department

Dev. = Development

Dist. = District

Econ. = Economic

Fac. = Facility

Facs. = Facilities

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

IAM = Interest at Maturity

LIBOR = London Interbank Offered Rate

LOC = Letter of credit

Part. = Participation

Preref. = Prerefunded

Redev. = Redevelopment

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

92 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| The Tax-Exempt Bond Fund of America | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_005.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 88.50%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alabama 1.37%** |  |  |  |
| Auburn University, General Fee Rev. Bonds, Series 2018-A, 5.00% 6/1/2036 | USD | 4440 | $4915 |
| City of Birmingham, Special Care Facs. Fncg. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-B, 5.00% 11/15/2046 |  | 500 | 515 |
| City of Birmingham, Special Care Facs. Fncg. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-C, 5.00% 11/15/2046 |  | 1000 | 1029 |
| City of Birmingham, Water Works Board, Water Rev. Ref. Bonds, Series 2016-B, 5.00% 1/1/2043 (preref. 1/1/2027) |  | 16050 | 17799 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 4/1/2053 (put 10/1/2027) |  | 6590 | 6593 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-E, 5.00% 5/1/2053 (put 6/1/2028) |  | 2500 | 2672 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 6), Series 2021-B, 4.00% 10/1/2052 (put 12/1/2026) |  | 4275 | 4284 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026) |  | 16670 | 16704 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 8), Series 2022-A, 4.00% 12/1/2052 (put 12/1/2029) |  | 6540 | 6447 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 3), Series 2018-A, 4.00% 12/1/2048 (put 12/1/2023) |  | 2500 | 2507 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1, 4.00% 10/1/2049 (put 10/1/2026) |  | 4040 | 4053 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2021-A, 4.00% 6/1/2051 (put 12/1/2031) |  | 18430 | 18630 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027) |  | 2240 | 2282 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds (ECG Monrovia Project), Series 2022-A, 2.00% 10/1/2025 (put 10/1/2024) |  | 5086 | 5012 |
| County of Houston, Health Care Auth., Hospital Rev. Bonds, Series 2016-A, 5.00% 10/1/2030 |  | 3000 | 3104 |
| County of Jefferson, G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 4/1/2023 |  | 1750 | 1757 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2027 |  | 3000 | 3309 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2028 |  | 2500 | 2754 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2030 |  | 5000 | 5492 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2031 |  | 7500 | 8224 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2032 |  | 2250 | 2460 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2033 |  | 5040 | 5488 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2034 |  | 8200 | 8877 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 6.00% 10/1/2042 |  | 11300 | 12073 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-A, Assured Guaranty Municipal insured, 5.00% 10/1/2044 |  | 22340 | 22977 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-A, Assured Guaranty Municipal insured, 5.25% 10/1/2048 |  | 17665 | 18186 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 7.00% 10/1/2051 |  | 1500 | 1610 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-A, Assured Guaranty Municipal insured, 5.50% 10/1/2053 |  | 11000 | 11338 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 6.50% 10/1/2053 |  | 10970 | 11729 |
| Lower Alabama Gas Dist., Gas Project Rev. Bonds, Series 2016-A, 5.00% 9/1/2031 |  | 5000 | 5418 |
| Lower Alabama Gas Dist., Gas Project Rev. Bonds, Series 2016-A, 5.00% 9/1/2046 |  | 11835 | 12444 |
| City of Montgomery, Medical Clinic Board, Health Care Fac. Rev. Bonds (Jackson Hospital & Clinic), Series 2015, 5.00% 3/1/2033 |  | 1150 | 1154 |

---

American Funds Tax-Exempt Funds 93

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alabama (continued)** |  |  |  |
| City of Prattville, Industrial Dev. Board, Environmental Improvement Rev. Ref. Bonds (International Paper Co. Project), Series 2019-B, 2.00% 11/1/2033 (put 10/1/2024) | USD | 450 | $436 |
| City of Prattville, Industrial Dev. Board, Recovery Zone Fac. Rev. Ref. Bonds (International Paper Co. Project), Series 2019-C, 2.00% 11/1/2033 (put 10/1/2024) |  | 425 | 412 |
| City of Selma, Industrial Dev. Board, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series 2019-A, 2.00% 11/1/2033 (put 10/1/2024) |  | 3775 | 3657 |
| South East Gas Supply Dist., Gas Supply Rev. Bonds (Project No. 2), Series 2018-A, 4.00% 6/1/2049 (put 6/1/2024) |  | 1000 | 1002 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 1), Series 2021-A, 4.00% 11/1/2051 (put 10/1/2028) |  | 1995 | 1998 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put 12/1/2031) |  | 51730 | 51601 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 3), Series 2022-A-1, 5.50% 1/1/2053 (put 12/1/2029) |  | 2050 | 2233 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 4), Series 2022-B-1, 5.00% 5/1/2053 (put 8/1/2028) |  | 16935 | 17755 |
|  |  |  | **310930** |
| **Alaska 0.13%** |  |  |  |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2019-A, 3.75% 12/1/2042 |  | 9070 | 9166 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2016-A, 3.50% 6/1/2046 |  | 900 | 899 |
| Housing Fin. Corp., General Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048 |  | 8315 | 8426 |
| International Airport System, Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2031 |  | 3000 | 3207 |
| International Airport System, Rev. Ref. Bonds, Series 2016-B, 5.00% 10/1/2034 |  | 3500 | 3704 |
| Northern Tobacco Securitization Corp., Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2066 |  | 35320 | 4698 |
|  |  |  | **30100** |
| **Arizona 1.99%** |  |  |  |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 1/1/2027 |  | 1305 | 1447 |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 1/1/2028 |  | 1375 | 1561 |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2021-A, 5.00% 1/1/2029 |  | 1700 | 1973 |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2017-A, 5.00% 1/1/2033 |  | 6395 | 7205 |
| Agricultural Improvement and Power Dist., Electric System Rev. Bonds (Salt River Project), Series 2017-A, 5.00% 1/1/2034 |  | 16455 | 18451 |
| Board of Regents of the Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 7/1/2036 |  | 1000 | 1140 |
| Town of Buckeye, Community Facs. Dist. No. 1 (Verrado), G.O. Rev. Ref. Bonds, Series 2013-A, 5.00% 7/15/2023<sup>1</sup> |  | 825 | 826 |
| Town of Buckeye, Community Facs. Dist. No. 1 (Verrado), G.O. Rev. Ref. Bonds, Series 2013-A, 6.00% 7/15/2027<sup>1</sup> |  | 2000 | 2009 |
| Bullhead City, Excise Taxes Rev. Obligations, Series 2021-2, 1.50% 7/1/2029 |  | 600 | 550 |
| Chandler Unified School Dist. No. 80, School Improvement Bonds, Series 2019-A, 5.00% 7/1/2026 |  | 500 | 547 |
| Chandler Unified School Dist. No. 80, School Improvement Bonds, Series 2019-A, 5.00% 7/1/2027 |  | 250 | 280 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 5/15/2023 |  | 450 | 453 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 4.00% 5/15/2024 |  | 825 | 842 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 4.00% 5/15/2026 |  | 1200 | 1259 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 5/15/2028 |  | 625 | 702 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (Midwestern University), Series 2020, 5.00% 5/15/2032 |  | 525 | 607 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks Life Care Community), Series 2016, 5.00% 5/15/2039 |  | 1550 | 1500 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Sun Health Services), Series 2019-A, 5.00% 11/15/2048 |  | 5000 | 5090 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Sun Health Services), Series 2019-A, 5.00% 11/15/2054 |  | 4900 | 4885 |
| Glendale Union High School Dist. No. 205, School Improvement Bonds, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 7/1/2038 |  | 1000 | 1033 |
| Health Facs. Auth., Rev. Bonds (Banner Health), Series 2007-B, (3-month USD-LIBOR + 0.81%) 3.995% 1/1/2037<sup>2</sup> |  | 52180 | 48918 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2033 |  | 1000 | 1082 |

---

94 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2035 | USD | 1100 | $1172 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2036 |  | 1000 | 1059 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2037 |  | 1045 | 1103 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2039 |  | 2045 | 2150 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 5.00% 11/1/2044 |  | 1630 | 1691 |
| Industrial Dev. Auth., Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-A, National insured, 4.00% 11/1/2049 |  | 4075 | 3705 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2038 |  | 250 | 246 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2045 |  | 2200 | 2045 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2041 |  | 1770 | 1615 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2051 |  | 1330 | 1136 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2061 |  | 7920 | 6493 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series 2021-A, 4.00% 7/1/2051 |  | 3300 | 2818 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series 2021-A, 4.00% 7/1/2061 |  | 4230 | 3468 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-A, 5.00% 7/1/2028 |  | 2400 | 2523 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-A, 5.00% 7/1/2042 |  | 1000 | 1028 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-A, 5.00% 7/1/2047 |  | 1310 | 1338 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-A, 5.00% 7/1/2051 |  | 1025 | 1044 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2037<sup>1</sup> |  | 1005 | 1007 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.125% 7/1/2037<sup>1</sup> |  | 2150 | 2162 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.25% 7/1/2047<sup>1</sup> |  | 5305 | 5209 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.375% 7/1/2050<sup>1</sup> |  | 4000 | 3963 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2051<sup>1</sup> |  | 700 | 655 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), Series 2019-A, 3.55% 7/15/2029<sup>1</sup> |  | 745 | 695 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), Series 2019-A, 5.00% 7/15/2039<sup>1</sup> |  | 1325 | 1298 |
| Industrial Dev. Auth., Education Rev. Bonds (KIPP Nashville Projects), Series 2022-A, 5.00% 7/1/2057 |  | 3000 | 3041 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Northern Nevada Project), Series 2022-A, 4.50% 7/15/2029<sup>1</sup> |  | 1250 | 1226 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2020-A, 5.00% 2/1/2037 |  | 1000 | 1118 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2021-A, 4.00% 2/1/2038 |  | 1600 | 1621 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2021-A, 4.00% 2/1/2039 |  | 1800 | 1814 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2021-A, 4.00% 2/1/2040 |  | 1000 | 1002 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2020-A, 3.00% 2/1/2045 |  | 5760 | 4712 |
| Industrial Dev. Auth., Hospital Rev. Bonds (Phoenix Children's Hospital), Series 2020-A, 4.00% 2/1/2050 |  | 7000 | 6690 |
| Industrial Dev. Auth., Multi Family Housing Rev. Bonds (Las Terrazas Apartments Project), Series 2022-A, 1.25% 2/1/2025 (put 2/1/2024) |  | 2445 | 2392 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class A, 3.625% 5/20/2033 |  | 58088 | 56185 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2028 |  | 2000 | 2292 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 2/1/2029 |  | 1000 | 1152 |
| Industrial Dev. Auth., Rev. Bonds (Lincoln South Beltway Project), Series 2020, 5.00% 11/1/2031 |  | 2500 | 3018 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Benjamin Franklin Charter School Projects), Series 2018-A, 6.00% 7/1/2038<sup>1</sup> |  | 3480 | 3725 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2017-A, 4.00% 7/1/2023 |  | 620 | 623 |

---

American Funds Tax-Exempt Funds 95

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2017-A, 5.00% 7/1/2037 | USD | 725 | $763 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (GreatHearts Arizona Projects), Series 2017-A, 5.00% 7/1/2052 |  | 750 | 772 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-A, 4.00% 7/1/2034 |  | 500 | 511 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-A, 5.00% 7/1/2039 |  | 750 | 796 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, 4.00% 7/1/2041<sup>1</sup> |  | 255 | 219 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2020, 5.25% 7/1/2045 |  | 3000 | 3209 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-A, 5.00% 7/1/2049 |  | 1500 | 1573 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2020, 4.00% 7/1/2050 |  | 3000 | 2834 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, 4.00% 7/1/2051<sup>1</sup> |  | 1000 | 786 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-A, 5.00% 7/1/2054 |  | 1650 | 1723 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Paradise Schools Project), Series 2019, 4.00% 7/1/2049 |  | 2845 | 2718 |
| County of Maricopa, Industrial Dev. Auth., Hospital Rev. Bonds (Honor Health), Series 2021-A, 4.00% 9/1/2037 |  | 585 | 597 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2019-C, 2.23% 1/1/2035 (put 10/18/2024)<sup>2</sup> |  | 4405 | 4388 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2017-D, 4.00% 1/1/2048 |  | 18145 | 17484 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2017-C, 5.00% 1/1/2048 (put 10/18/2024) |  | 1035 | 1076 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2019-E, 3.00% 1/1/2049 |  | 7000 | 5469 |
| County of Maricopa, Special Health Care Dist., G.O. Bonds, Series 2021-D, 5.00% 7/1/2031 |  | 2500 | 2990 |
| County of Maricopa, Special Health Care Dist., G.O. Bonds, Series 2021-D, 5.00% 7/1/2032 |  | 5205 | 6190 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (El Paso Electric Co. Palo Verde Project), Series 2009-A, 3.60% 2/1/2040 |  | 7250 | 6645 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2000-A, 2.40% 6/1/2035 |  | 8175 | 6478 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2000-B, 2.40% 6/1/2035 |  | 7150 | 5666 |
| McAllister Academic Village, LLC, Rev. Ref. Bonds (Arizona State University Hassayampa Academic Village Project), Series 2016, 5.00% 7/1/2033 |  | 5080 | 5486 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2024 |  | 280 | 285 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2026 |  | 260 | 271 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2027 |  | 250 | 263 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2030 |  | 290 | 312 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2041 |  | 650 | 667 |
| City of Mesa, Eastmark Community Facs. Dist. No. 1, G.O. Bonds, Series 2021, BAM insured, 4.00% 7/15/2045 |  | 1050 | 1059 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% 7/1/2035<sup>1</sup> |  | 2675 | 2689 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% 7/1/2035<sup>1</sup> |  | 1000 | 1005 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% 7/1/2045<sup>1</sup> |  | 2500 | 2393 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% 7/1/2046<sup>1</sup> |  | 3900 | 3714 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, 4.00% 7/1/2026<sup>1</sup> |  | 2015 | 1999 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, 5.00% 7/1/2035<sup>1</sup> |  | 910 | 917 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, 5.00% 7/1/2036<sup>1</sup> |  | 8535 | 8590 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2014-A, 6.75% 7/1/2044<sup>1</sup> |  | 1500 | 1538 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, 5.00% 7/1/2045<sup>1</sup> |  | 1050 | 1012 |

---

96 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-A, 4.00% 7/1/2044 | USD | 3000 | $2978 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-A, 3.00% 7/1/2049 |  | 1500 | 1188 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-A, 4.00% 7/1/2049 |  | 16000 | 15684 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Bonds, Series 2019-A, 5.00% 7/1/2049 |  | 13890 | 14910 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Ref. Bonds, Series 2017-D, 5.00% 7/1/2032 |  | 7320 | 8131 |
| City of Phoenix Civic Improvement Corp., Airport Rev. Ref. Bonds, Series 2017-D, 5.00% 7/1/2033 |  | 18655 | 20683 |
| City of Phoenix Civic Improvement Corp., Rental Car Fac. Charge Rev. Bonds, Series 2019-A, 5.00% 7/1/2033 |  | 2515 | 2824 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2031 |  | 2200 | 2397 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2032 |  | 2000 | 2177 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2033 |  | 1000 | 1087 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2034 |  | 1000 | 1083 |
| City of Phoenix Civic Improvement Corp., Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 7/1/2035 |  | 2000 | 2157 |
| City of Phoenix Civic Improvement Corp., Water System Rev. Bonds, Series 2020-A, 5.00% 7/1/2044 |  | 2125 | 2373 |
| County of Pima, Industrial Dev. Auth., Rev. Bonds (Tucson Medical Center), Series 2021-A, 4.00% 4/1/2036 |  | 840 | 855 |
| County of Pima, Industrial Dev. Auth., Rev. Bonds (Tucson Medical Center), Series 2021-A, 4.00% 4/1/2037 |  | 900 | 905 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, 5.75% 11/15/2026<sup>1</sup> |  | 1405 | 1427 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, 5.75% 11/15/2027<sup>1</sup> |  | 1485 | 1513 |
| City of Scottsdale Municipal Property Corp., Excise Tax Rev. Ref. Bonds, Series 2006, 5.00% 7/1/2030 |  | 8000 | 9223 |
| Transportation Board, Transportation Excise Tax Rev. Ref. Bonds (Maricopa County Regional Area Road Fund), Series 2014, 5.00% 7/1/2023 |  | 1290 | 1303 |
| City of Tucson, Water System Rev. and Rev. Ref. Obligations, Series 2017, 5.00% 7/1/2029 |  | 1500 | 1672 |
| City of Tucson, Water System Rev. and Rev. Ref. Obligations, Series 2017, 5.00% 7/1/2030 |  | 1250 | 1389 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2024 |  | 400 | 415 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2025 |  | 500 | 534 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2026 |  | 400 | 438 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2027 |  | 300 | 336 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2028 |  | 400 | 457 |
| Board of Regents of the University of Arizona, Speed Rev. Ref. Bonds, Series 2020-C, 5.00% 8/1/2029 |  | 400 | 465 |
| Board of Regents of the University of Arizona, System Rev. and Rev. Ref. Bonds, Series 2021-A, 5.00% 6/1/2042 |  | 1800 | 2023 |
| Board of Regents of the University of Arizona, System Rev. and Rev. Ref. Bonds, Series 2021-A, 5.00% 6/1/2043 |  | 3000 | 3363 |
|  |  |  | **451671** |
| **Arkansas 0.03%** |  |  |  |
| Dev. Fin. Auth., Multi Family Housing Rev. Bonds (Protho Manor Apartments), Series 2021, 0.35% 7/1/2025 (put 7/1/2023) |  | 4000 | 3941 |
| Springdale School Dist. No. 50, Rev. Ref. and Construction Bonds, Series 2022-B, 3.00% 6/1/2037 |  | 2705 | 2504 |
|  |  |  | **6445** |
| **California 6.15%** |  |  |  |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2049 (5.375% on 10/1/2037)<sup>3</sup> |  | 1770 | 884 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2050 (5.40% on 10/1/2037)<sup>3</sup> |  | 6040 | 3011 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-C-2, Assured Guaranty Municipal insured, 0% 10/1/2052 (5.45% on 10/1/2037)<sup>3</sup> |  | 3015 | 1527 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2046 |  | 500 | 511 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 12200 | 11163 |
| City of Aliso Viejo, Community Facs. Dist. No. 2005-01 (Glenwood at Aliso Viejo), Special Tax Bonds, Series 2014, 5.00% 9/1/2032 |  | 1230 | 1248 |
| City of Aliso Viejo, Community Facs. Dist. No. 2005-01 (Glenwood at Aliso Viejo), Special Tax Bonds, Series 2014, 5.00% 9/1/2033 |  | 1325 | 1344 |
| City of Aliso Viejo, Community Facs. Dist. No. 2005-01 (Glenwood at Aliso Viejo), Special Tax Bonds, Series 2014, 5.00% 9/1/2038 |  | 2895 | 2935 |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2031 |  | 1175 | 924 |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2033 |  | 1400 | 1001 |

---

American Funds Tax-Exempt Funds 97

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2049 | USD | 2100 | $2276 |
| Baldwin Park Unified School Dist., G.O. Bonds, 2018 Election, Series 2021, 3.00% 8/1/2043 |  | 1250 | 1042 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 9/2/2027 |  | 1085 | 1128 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 9/2/2029 |  | 985 | 1023 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Windemere Ranch Infrastructure Fncg. Program), Series 2014-A, 5.00% 9/2/2030 |  | 295 | 306 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Senior Living Rev. Bonds (Odd Fellows Home of California), Series 2012-A, 5.00% 4/1/2032 |  | 3000 | 3012 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2017-S-7, 4.00% 4/1/2034 |  | 5000 | 5281 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-A-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 1150 | 1151 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-B-1, (SIFMA Municipal Swap Index + 1.10%) 2.76% 4/1/2045 (put 4/1/2024)<sup>2</sup> |  | 13525 | 13599 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2017-B, 2.85% 4/1/2047 (put 4/1/2025) |  | 4330 | 4328 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2021-D, (SIFMA Municipal Swap Index + 0.30%) 1.96% 4/1/2056 (put 4/1/2027)<sup>2</sup> |  | 1990 | 1935 |
| Bay Area Water Supply and Conservation Agcy., Rev. Bonds, Series 2013-A, 5.00% 10/1/2034 |  | 4950 | 4971 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8C, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2048 |  | 5715 | 5869 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8D, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2043 |  | 750 | 776 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8E, Special Tax Bonds, Series 2019, 5.00% 9/1/2048 |  | 2500 | 2569 |
| City of Brea, Successor Agcy. to the Redev. Agcy. (Redev. Project AB), Tax Allocation Rev. Ref. Bonds, Series 2013, 5.00% 8/1/2026 |  | 1200 | 1216 |
| Capistrano Unified School Dist., School Facs. Improvement Dist. No. 1, G.O. Bonds, Capital Appreciation Bonds, 1999 Election, Series 2001-B, Assured Guaranty Municipal insured, 0% 8/1/2025 |  | 4645 | 4227 |
| City of Carson, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area No.1), Series 2014-A, Assured Guaranty Municipal insured, 4.25% 10/1/2033 |  | 750 | 770 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-A, BAM insured, 4.00% 8/1/2033 |  | 750 | 807 |
| Center Joint Unified School Dist., G.O. Bonds, 2008 Election, Series 2021-B, BAM insured, 3.00% 8/1/2040 |  | 580 | 514 |
| Center Joint Unified School Dist., G.O. Bonds, 2008 Election, Series 2021-B, BAM insured, 3.00% 8/1/2041 |  | 480 | 419 |
| Center Joint Unified School Dist., G.O. Bonds, 2008 Election, Series 2021-B, BAM insured, 3.00% 8/1/2046 |  | 3150 | 2588 |
| Central Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, Assured Guaranty Municipal insured, 3.00% 8/1/2044 |  | 2500 | 2056 |
| Chaffey Community College Dist., G.O. Bonds, 2018 Election, Series 2019-A, 4.00% 6/1/2043 |  | 5000 | 5043 |
| Chaffey Community College Dist., G.O. Bonds, 2018 Election, Series 2019-A, 3.00% 6/1/2046 |  | 2000 | 1631 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2031 |  | 600 | 466 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2032 |  | 315 | 235 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2033 |  | 320 | 228 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2034 |  | 625 | 423 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2038 |  | 1300 | 699 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2039 |  | 1000 | 510 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 2250 | 2062 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2025 |  | 1065 | 1131 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2026 |  | 225 | 241 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2034 |  | 1090 | 1163 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2035 |  | 1725 | 1834 |
| City of Chula Vista, Municipal Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013, 5.00% 9/1/2034 |  | 2360 | 2393 |

---

98 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Chula Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 10/1/2028 | USD | 570 | $622 |
| Coast Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2012 Election, Series 2019-F, 0% 8/1/2043 |  | 4000 | 1749 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 (put 8/1/2029) |  | 13425 | 14380 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 5.00% 12/1/2053 (put 8/1/2029) |  | 2315 | 2473 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-1, 4.00% 2/1/2056<sup>1</sup> |  | 22790 | 20094 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Verdant at Green Valley), Series 2019-A, 5.00% 8/1/2049<sup>1</sup> |  | 1000 | 976 |
| Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 4.00% 6/1/2049 |  | 1000 | 989 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2035 |  | 1500 | 922 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2040 |  | 500 | 229 |
| City of Corona, Community Facs. Dist. No. 2018-2 (Sierra Bella), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2051 |  | 1750 | 1791 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-A-2, 3.25% 4/1/2057<sup>1</sup> |  | 9505 | 6979 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-B, 4.00% 4/1/2057<sup>1</sup> |  | 1000 | 731 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-A-2, 3.00% 3/1/2057<sup>1</sup> |  | 6155 | 4331 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-B, 4.00% 3/1/2057<sup>1</sup> |  | 540 | 411 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-2, 4.00% 6/1/2058<sup>1</sup> |  | 39100 | 31761 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), Series 2021-A-2, 3.25% 7/1/2056<sup>1</sup> |  | 5970 | 4304 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Park Crossing Apartments), Series 2021-A, 3.25% 12/1/2058<sup>1</sup> |  | 5105 | 3689 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-2, 3.00% 12/1/2056<sup>1</sup> |  | 3460 | 2468 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Theo - Pasadena), Series 2021-A-2, 3.25% 5/1/2057<sup>1</sup> |  | 2215 | 1665 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-1, 3.10% 7/1/2045<sup>1</sup> |  | 1000 | 799 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-2, 4.00% 7/1/2056<sup>1</sup> |  | 9000 | 7094 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Vineyard Garden Apartments), Series 2021-A, 3.25% 10/1/2058<sup>1</sup> |  | 1725 | 1245 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series 2021-A-2, 3.125% 6/1/2057<sup>1</sup> |  | 33900 | 24257 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area B, Special Tax Bonds, Series 2022, 4.00% 9/1/2038 |  | 1085 | 1057 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area B, Special Tax Bonds, Series 2022, 4.00% 9/1/2043 |  | 1095 | 1021 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area B, Special Tax Bonds, Series 2022, 4.00% 9/1/2051 |  | 2180 | 1950 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area D, Special Tax Bonds, Series 2022, 4.00% 9/1/2038 |  | 1230 | 1197 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area D, Special Tax Bonds, Series 2022, 4.00% 9/1/2043 |  | 1150 | 1073 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area D, Special Tax Bonds, Series 2022, 4.00% 9/1/2051 |  | 2540 | 2275 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2017-79 (Eagle Crest), Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 2275 | 2262 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2017-79 (Eagle Crest), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 2085 | 1970 |
| Educational Facs. Auth., Rev. Bonds (Loyola Marymount University), Capital Appreciation Bonds, Series 2001-A, National insured, 0% 10/1/2037 |  | 6000 | 3356 |

---

American Funds Tax-Exempt Funds 99

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Educational Facs. Auth., Rev. Bonds (Stanford University), Series 2010-U-1, 5.25% 4/1/2040 | USD | 505 | $640 |
| Educational Facs. Auth., Rev. Bonds (Stanford University), Series 2016-U-7, 5.00% 6/1/2046 |  | 1000 | 1234 |
| County of El Dorado, Community Facs. Dist. No. 1992-1 (El Dorado Hills Dev.), Special Tax Rev. Ref. Bonds, Series 2012, 4.00% 9/1/2029 |  | 2120 | 2123 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, 5.00% 9/1/2026 |  | 1300 | 1390 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2034 |  | 500 | 534 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2035 |  | 500 | 532 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2038 |  | 1500 | 1584 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2041 |  | 12830 | 13104 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2018, 5.00% 9/1/2043 |  | 2890 | 2945 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2046 |  | 13500 | 13694 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2018, 5.00% 9/1/2048 |  | 2500 | 2534 |
| Elk Grove Unified School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2012, Assured Guaranty Municipal insured, 3.375% 12/1/2030 |  | 1500 | 1501 |
| Elk Grove Unified School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2012, Assured Guaranty Municipal insured, 4.00% 12/1/2033 |  | 3000 | 3004 |
| City of Emeryville, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 9/1/2032 |  | 890 | 929 |
| City of Emeryville, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 9/1/2033 |  | 775 | 809 |
| City of Escondido, Community Facs. Dist. No. 2020-2 (The Villages), Special Tax Bonds, Series 2022, 5.00% 9/1/2038 |  | 780 | 830 |
| City of Escondido, Community Facs. Dist. No. 2020-2 (The Villages), Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 3000 | 3082 |
| Etiwanda School Dist., G.O. Bonds, 2016 Election, Series 2020-A, 4.00% 8/1/2049 |  | 3500 | 3505 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2034 |  | 1000 | 676 |
| City of Eureka, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2017-B, National insured, 5.00% 11/1/2023 |  | 1040 | 1059 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 3, G.O. Bonds, 2007 Election, Series 2019-D, Assured Guaranty Municipal insured, 4.00% 10/1/2039 |  | 3000 | 3040 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 3, G.O. Bonds, 2007 Election, Series 2019-D, Assured Guaranty Municipal insured, 4.00% 10/1/2040 |  | 5000 | 5051 |
| City of Fontana, Community Facs. Dist. No. 22 (Sierra Hills South), Special Tax Bonds, Series 2014, 5.00% 9/1/2031 |  | 880 | 900 |
| City of Fontana, Community Facs. Dist. No. 22 (Sierra Hills South), Special Tax Bonds, Series 2014, 5.00% 9/1/2034 |  | 2600 | 2656 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 4.625% 9/1/2052 |  | 3500 | 3469 |
| City of Fontana, Public Facs. Fin. Auth., Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2023 |  | 145 | 146 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-A, Assured Guaranty Municipal insured, 0% 1/15/2034 |  | 2000 | 1399 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-A, Assured Guaranty Municipal insured, 0% 1/15/2035 |  | 2000 | 1331 |
| Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2021-D, 3.00% 8/1/2033 |  | 1000 | 1000 |
| Fresno Unified School Dist., G.O. Bonds, 2016 Election, Series 2016-B, 3.00% 8/1/2043 |  | 2000 | 1696 |
| Fresno Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-A, 5.00% 8/1/2030 |  | 1005 | 1101 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2031 |  | 395 | 429 |
| G.O. Bonds, Series 2015, 5.25% 8/1/2032 |  | 5000 | 5373 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2032 |  | 335 | 364 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2034 |  | 335 | 362 |
| G.O. Bonds, Series 2021, 4.00% 10/1/2037 |  | 1000 | 1055 |
| G.O. Bonds, Series 2021, 4.00% 10/1/2039 |  | 3000 | 3130 |
| G.O. Bonds, Series 2020, 4.00% 11/1/2041 |  | 500 | 504 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2046 |  | 260 | 292 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 9/1/2041 |  | 2625 | 3022 |
| Glendale Community College Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-B, 0% 8/1/2029 |  | 990 | 821 |
| Glendale Community College Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-B, 0% 8/1/2031 |  | 1250 | 966 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2005-A, Assured Guaranty Municipal insured, 0% 6/1/2025 (escrowed to maturity) |  | 10000 | 9469 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2005-A, Assured Guaranty Municipal insured, 0% 6/1/2026 (escrowed to maturity) |  | 7000 | 6487 |

---

100 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2005-A, AMBAC insured, 0% 6/1/2027 (escrowed to maturity) | USD | 3960 | $3583 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2066 |  | 26155 | 3307 |
| Grossmont Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2008, 0% 8/1/2032 |  | 9835 | 7341 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2045<sup>1</sup> |  | 4700 | 4104 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2061<sup>1</sup> |  | 3085 | 2545 |
| Hayward Unified School Dist., G.O. Bonds, 2018 Election, Series 2020, Assured Guaranty Municipal insured, 4.00% 8/1/2050 |  | 2500 | 2472 |
| Hayward Unified School Dist., G.O. Bonds, 2019 Election, Series 2019-A, BAM insured, 5.00% 8/1/2044 |  | 7000 | 7627 |
| Hayward Unified School Dist., G.O. Rev. Ref. Bonds, 2019 Election, Series 2019-A, BAM insured, 5.00% 8/1/2040 |  | 3000 | 3301 |
| Health Facs. Fncg. Auth., Rev. Bonds (Marshall Medical Center), Series 2020-A, 4.00% 11/1/2040 |  | 1000 | 1016 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children's Hospital at Stanford), Series 2022-A, 4.00% 5/15/2046 |  | 1050 | 1059 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Marshall Medical Center), Series 2015, 5.00% 11/1/2024 |  | 255 | 266 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Marshall Medical Center), Series 2015, 5.00% 11/1/2026 |  | 350 | 367 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (St. Joseph Health System), Series 2013-A, 5.00% 7/1/2033 (preref. 7/1/2023) |  | 1300 | 1314 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Stanford Health Care), Series 2017-A, 5.00% 11/15/2035 |  | 8500 | 9333 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2040 |  | 1000 | 1070 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2050 |  | 1250 | 1309 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2055 |  | 1000 | 1041 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-A-2, 4.00% 3/20/2033 |  | 1849 | 1875 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-A-1, 4.25% 1/15/2035 |  | 1746 | 1746 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035 |  | 23229 | 22523 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036 |  | 20939 | 19422 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2036<sup>1</sup> |  | 340 | 354 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2041<sup>1</sup> |  | 510 | 516 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2046<sup>1</sup> |  | 135 | 133 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2051<sup>1</sup> |  | 175 | 170 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (The Colburn School), Series 2019, 1.75% 8/1/2055 (put 8/1/2026) |  | 4750 | 4495 |
| Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Los Angeles County Museum of Art Project), Series 2021-B, 2.36% 12/1/2050 (put 6/1/2026)<sup>2</sup> |  | 1000 | 966 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2028 |  | 1000 | 1104 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2030 |  | 950 | 1053 |
| Inglewood Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 8/1/2046 |  | 5150 | 5171 |
| Inglewood Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 8/1/2051 |  | 2000 | 1998 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 1, Special Tax Bonds, Series 2014, 5.00% 9/1/2039 |  | 1000 | 1016 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 1, Special Tax Bonds, Series 2014, 5.00% 9/1/2044 |  | 2705 | 2736 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, 5.00% 9/1/2043 |  | 2670 | 2777 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, 5.00% 9/1/2048 |  | 5250 | 5428 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2012, 5.00% 9/2/2023 |  | 1235 | 1252 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2012, 4.00% 9/2/2028 |  | 675 | 681 |
| City of Irvine, Reassessment Dist. No. 13-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2023 |  | 1100 | 1115 |
| City of Irvine, Reassessment Dist. No. 13-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2027 |  | 325 | 330 |
| City of Irvine, Reassessment Dist. No. 13-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2030 |  | 700 | 711 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2032 |  | 350 | 365 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2033 |  | 585 | 609 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2034 |  | 615 | 639 |

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American Funds Tax-Exempt Funds 101

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2035 | USD | 375 | $388 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2042 |  | 995 | 1015 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2025 |  | 1000 | 1050 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-D, BAM insured, 4.00% 9/1/2026 |  | 150 | 154 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2026 |  | 1300 | 1391 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2027 |  | 1085 | 1178 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2032 |  | 250 | 268 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2033 |  | 120 | 128 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2034 |  | 1000 | 1061 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2034 |  | 475 | 505 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2035 |  | 530 | 559 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 9/1/2035 |  | 1255 | 1344 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2036 |  | 510 | 535 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2037 |  | 705 | 736 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2038 |  | 645 | 672 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-C, BAM insured, 5.00% 9/1/2042 |  | 1000 | 1034 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2044 |  | 6145 | 5723 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2047 |  | 2000 | 2055 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2049 |  | 3000 | 3001 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-D, BAM insured, 5.00% 9/1/2049 |  | 1000 | 1026 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2050 |  | 11195 | 11176 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2051 |  | 3000 | 3061 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2054 |  | 12170 | 12047 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2054 |  | 11000 | 10889 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-D, BAM insured, 5.00% 3/1/2057 |  | 1000 | 1020 |
| City of Jurupa, Community Facs. Dist. No. 33 (Eastvale Area), Improvement Area No. 2, Special Tax Bonds, Series 2014-A, 5.00% 9/1/2043 |  | 3140 | 3180 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2013-A, 5.25% 9/1/2024 |  | 1145 | 1164 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 9/1/2026 |  | 700 | 727 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 9/1/2032 |  | 1260 | 1303 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 9/1/2042 |  | 1250 | 1288 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2031 |  | 1890 | 2061 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2035 |  | 1125 | 1191 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2039 |  | 1095 | 1123 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2032 |  | 415 | 458 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2033 |  | 880 | 955 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2034 |  | 945 | 1013 |

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102 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2035 | USD | 1020 | $1077 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2036 |  | 840 | 877 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2037 |  | 1170 | 1213 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2038 |  | 1255 | 1293 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2039 |  | 1340 | 1374 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2040 |  | 1435 | 1465 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2041 |  | 1535 | 1561 |
| Jurupa Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds (Community Facs. Dists. Nos. 10, 12, 13 and 15), Series 2021-A, BAM insured, 4.00% 9/1/2047 |  | 7000 | 7057 |
| County of Kern, RNR School Fncg. Auth., Community Facs. Dist. No. 92-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2041 |  | 3000 | 3115 |
| La Mesa-Spring Valley School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 4.00% 8/1/2046 |  | 935 | 937 |
| La Mesa-Spring Valley School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 4.00% 8/1/2051 |  | 1000 | 992 |
| City of La Quinta, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area Nos. 1 and 2), Series 2013-A, 5.00% 9/1/2030 (preref. 9/1/2023) |  | 1500 | 1523 |
| City of Lake Elsinore, Facs. Fin. Auth., Local Agcy. Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 9/1/2039 |  | 1000 | 1026 |
| City of Lake Elsinore, Facs. Fin. Auth., Local Agcy. Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 9/1/2041 |  | 675 | 686 |
| City of Lake Elsinore, Facs. Fin. Auth., Local Agcy. Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 9/1/2047 |  | 2915 | 2939 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2035 |  | 5915 | 6121 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2040 |  | 4375 | 4472 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2019-1 (Mountain House School Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2052 |  | 4000 | 3578 |
| City of Lee Lake, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013-A, 5.25% 9/1/2024 |  | 1000 | 1015 |
| City of Lee Lake, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013-A, 5.00% 9/1/2032 |  | 3750 | 3807 |
| City of Lee Lake, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013-A, 5.125% 9/1/2035 |  | 1250 | 1269 |
| City of Long Beach, Marina Rev. Bonds (Alamitos Bay Marina Project), Series 2015, 5.00% 5/15/2040 |  | 2235 | 2282 |
| Long Beach Community College Dist., G.O. Bonds, 2016 Election, Series 2021-D, 3.00% 8/1/2037 |  | 1000 | 936 |
| Long Beach Community College Dist., G.O. Bonds, 2016 Election, Series 2021-D, 3.00% 8/1/2038 |  | 1405 | 1293 |
| Long Beach Community College Dist., G.O. Bonds, 2016 Election, Series 2021-D, 3.00% 8/1/2039 |  | 1000 | 904 |
| Long Beach Unified School Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-G, Assured Guaranty insured, 0% 8/1/2029 |  | 3995 | 3317 |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2029 |  | 1135 | 1189 |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2030 |  | 985 | 1032 |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2031 |  | 685 | 718 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2013-B, 5.00% 5/15/2038 |  | 1500 | 1509 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-B, 5.00% 5/15/2042 |  | 3900 | 4178 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-B, 5.00% 5/15/2049 |  | 1805 | 1965 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Green Bonds, Series 2022-I, 5.00% 5/15/2042 |  | 1000 | 1136 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2015-C, 5.00% 5/15/2027 |  | 1500 | 1597 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2022-D, 4.00% 5/15/2035 |  | 1000 | 1064 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2038 |  | 2075 | 2428 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2039 |  | 1000 | 1171 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2047 |  | 1000 | 1133 |

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American Funds Tax-Exempt Funds 103

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2034 | USD | 335 | $368 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2035 |  | 500 | 544 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2036 |  | 570 | 613 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2037 |  | 615 | 654 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2042 |  | 830 | 866 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2047 |  | 1190 | 1227 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 590 | 604 |
| County of Los Angeles, Dev. Auth., Multi Family Housing Mortgage Rev. Bonds (Long Beach Senior Housing), Series 2022, 2.00% 2/1/2026 (put 2/1/2025) |  | 5924 | 5724 |
| County of Los Angeles, Redev. Ref. Auth., Tax Allocation Rev. Ref. Bonds (Various Redev. Project Areas), Series 2013-D, Assured Guaranty Municipal insured, 5.00% 9/1/2027 (preref. 9/1/2023) |  | 835 | 847 |
| County of Los Angeles, Redev. Ref. Auth., Tax Allocation Rev. Ref. Bonds (Various Redev. Project Areas), Series 2013-D, Assured Guaranty Municipal insured, 5.00% 9/1/2027 |  | 595 | 605 |
| County of Los Angeles, Redev. Ref. Auth., Tax Allocation Rev. Ref. Bonds (Various Redev. Project Areas), Series 2013-D, Assured Guaranty Municipal insured, 5.00% 9/1/2027 (preref. 9/1/2023) |  | 520 | 528 |
| Los Angeles County Facs., Inc., Lease Rev. Bonds (Vermont Corridor County Administration Building), Series 2018-A, 5.00% 12/1/2043 |  | 1250 | 1353 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2005 Election, Series 2018-M-1, 5.25% 7/1/2042 |  | 8000 | 8777 |
| Los Angeles Unified School Dist., G.O. Rev. Ref. Bonds, Series 2019-A, 3.00% 1/1/2034 |  | 6750 | 6742 |
| M-S-R Energy Auth., Gas Rev. Bonds, Series 2009-B, 6.125% 11/1/2029 |  | 4165 | 4698 |
| M-S-R Energy Auth., Gas Rev. Bonds, Series 2009-C, 7.00% 11/1/2034 |  | 3105 | 4013 |
| M-S-R Energy Auth., Gas Rev. Bonds, Series 2009-B, 6.50% 11/1/2039 |  | 3500 | 4399 |
| City of Menifee, Community Facs. Dist. No. 2020-1 (McCall Mesa), Special Tax Bonds, Series 2023-A, 5.00% 9/1/2053 |  | 1315 | 1370 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2017-A, National insured, 5.00% 9/1/2026 |  | 1440 | 1533 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2017-A, National insured, 5.00% 9/1/2029 |  | 1260 | 1366 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 3.00% 9/1/2031 |  | 570 | 576 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2017-A, National insured, 5.00% 9/1/2031 |  | 250 | 271 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2032 |  | 725 | 771 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2033 |  | 760 | 805 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2017-A, National insured, 5.00% 9/1/2033 |  | 345 | 372 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2034 |  | 600 | 633 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2036 |  | 850 | 890 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2033 (preref. 1/1/2026) |  | 4390 | 4761 |
| Modesto Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2012-A, Assured Guaranty Municipal insured, 5.00% 7/1/2026 |  | 2500 | 2526 |
| Montebello Unified School Dist., G.O. Bonds, 2016 Election, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 8/1/2050 |  | 900 | 987 |
| Moreno Valley Unified School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2022, 4.75% 9/1/2052 |  | 3370 | 3372 |
| Moreno Valley Unified School Dist., Community Facs. Dist. No. 2019-2, Special Tax Bonds, Series 2022, 4.75% 9/1/2052 |  | 3110 | 3112 |
| City of Morgan Hill, Successor Agcy. to the Redev. Agcy., Rev. Ref. Bonds, Series 2013-A, 5.00% 9/1/2026 |  | 2000 | 2031 |
| Morongo Band of Mission Indians, Rev. Ref. Bonds, Series 2018-B, 5.00% 10/1/2042<sup>1</sup> |  | 5025 | 5077 |
| Mt. Diablo Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022-B, 4.00% 8/1/2036 |  | 770 | 816 |

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104 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Mt. Diablo Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022-B, 4.00% 6/1/2037 | USD | 315 | $331 |
| Mt. San Jacinto Community College Dist., G.O. Bonds, 2014 Election, Series 2021-C, 3.00% 8/1/2035 |  | 1040 | 1024 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2021, 5.00% 11/1/2027<sup>1</sup> |  | 3920 | 4122 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.25% 11/1/2052 |  | 2550 | 2766 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2016-A, 5.00% 11/1/2036<sup>1</sup> |  | 1500 | 1528 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2016-A, 5.00% 11/1/2046<sup>1</sup> |  | 1500 | 1494 |
| Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 2/1/2046 |  | 2225 | 1741 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2046 |  | 2500 | 1891 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2049 |  | 5450 | 4001 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Harbor Regional Center Project), Series 2015, 5.00% 11/1/2039 |  | 850 | 899 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2033 |  | 1100 | 1124 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2038 |  | 3750 | 3774 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 5.00% 10/1/2044 |  | 3750 | 3913 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2042 |  | 565 | 464 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2056 |  | 830 | 615 |
| Municipal Fin. Auth., Special Fin. Agcy. XII, Essential Housing Rev. Bonds (Allure Apartments), Series 2022-A-1, 3.25% 2/1/2057<sup>1</sup> |  | 20515 | 14663 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-2, 4.00% 12/1/2045<sup>1</sup> |  | 400 | 333 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-1, 3.00% 12/1/2056<sup>1</sup> |  | 2060 | 1470 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 4.00% 5/15/2041 |  | 220 | 217 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 4.00% 5/15/2046 |  | 615 | 590 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2051 |  | 6695 | 5350 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2054 |  | 1490 | 1167 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (UCR Dundee-Glasgow Student Housing Project), Series 2018, BAM insured, 5.00% 5/15/2037 |  | 1755 | 1883 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (UCR Dundee-Glasgow Student Housing Project), Series 2018, BAM insured, 5.00% 5/15/2039 |  | 1535 | 1636 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2024 |  | 760 | 784 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2026 |  | 2620 | 2813 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2027 |  | 1875 | 2013 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2028 |  | 3320 | 3564 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2031 |  | 1915 | 2029 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2032 |  | 1175 | 1244 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 9/1/2032 |  | 1000 | 1083 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 9/1/2034 |  | 2935 | 3196 |
| Northern California Gas Auth. No. 1, Gas Project Rev. Bonds, Series 2007-B, (3-month USD-LIBOR + 0.67%) 3.905% 7/1/2027<sup>2</sup> |  | 11925 | 11856 |
| Oak Grove School Dist., G.O Bonds, 2022 Election, Series 2023-A-2, 5.00% 8/1/2052 |  | 2165 | 2435 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2042 |  | 2180 | 2041 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2052 |  | 3425 | 3023 |
| City of Ontario, Community Facs. Dist. No. 43 (Park Place Facs. Phase IV), Special Tax Bonds, Series 2020, 4.00% 9/1/2050 |  | 3250 | 2924 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 4025 | 3398 |
| Ontario International Airport Auth., Airport Rev. Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 5/15/2046 |  | 1885 | 2049 |
| Ontario-Montclair School Dist., G.O. Rev. Ref. Bonds, Series 2019-B, 5.00% 8/1/2043 |  | 2355 | 2527 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Bonds, Series 2015-A, 5.00% 8/15/2034 |  | 730 | 759 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.25% 8/15/2045 |  | 1950 | 2001 |

---

American Funds Tax-Exempt Funds 105

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| County of Orange, Community Facs. Dist. No. 2016-1 (Esencia Village), Special Tax Bonds, Series 2016-A, 5.00% 8/15/2041 | USD | 1250 | $1289 |
| County of Orange, Community Facs. Dist. No. 2017-1 (Esencia Village), Improvement Area No. 1, Special Tax Bonds, Series 2018-A, 5.00% 8/15/2036 |  | 2880 | 3063 |
| County of Orange, Community Facs. Dist. No. 2017-1 (Esencia Village), Improvement Area No. 1, Special Tax Bonds, Series 2018-A, 5.00% 8/15/2042 |  | 5000 | 5217 |
| County of Orange, Community Facs. Dist. No. 2017-1 (Esencia Village), Improvement Area No. 1, Special Tax Bonds, Series 2018-A, 5.00% 8/15/2047 |  | 6000 | 6206 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2037 |  | 290 | 312 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2042 |  | 780 | 821 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2047 |  | 1460 | 1519 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2052 |  | 1530 | 1583 |
| City of Palmdale, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016-A, National insured, 5.00% 9/1/2030 |  | 250 | 274 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Series 2017-A, Assured Guaranty Municipal insured, 5.00% 8/1/2041 |  | 2250 | 2417 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2028 |  | 7000 | 5945 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2030 |  | 15520 | 12247 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2031 |  | 3000 | 2281 |
| City of Perris, Joint Powers Auth., Local Agcy. Rev. Bonds (CFD No. 2006-2 - Monument Park Estates), Series 2015-B, 5.00% 9/1/2045 |  | 5295 | 5390 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2031 |  | 650 | 673 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2033 |  | 2885 | 2980 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2034 |  | 1260 | 1300 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2035 |  | 3175 | 3264 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2041 |  | 3725 | 3789 |
| Poway Unified School Dist., Community Facs. Dist. No. 6 (4S Ranch), Special Tax Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 9/1/2030 |  | 1910 | 2103 |
| Poway Unified School Dist., Community Facs. Dist. No. 6 (4S Ranch), Special Tax Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 9/1/2031 |  | 2040 | 2242 |
| Poway Unified School Dist., Community Facs. Dist. No. 6 (4S Ranch), Special Tax Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 9/1/2032 |  | 2185 | 2399 |
| Poway Unified School Dist., Community Facs. Dist. No. 6 (4S Ranch), Special Tax Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 9/1/2033 |  | 960 | 1050 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2026 |  | 1265 | 1332 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2027 |  | 590 | 622 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2031 |  | 1200 | 1252 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-B, BAM insured, 4.00% 9/1/2036 |  | 710 | 726 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2017, 5.00% 10/15/2033 |  | 500 | 527 |
| Public Fin. Auth., Rev. Ref. Bonds (O'Conner Woods), Series 2022, 4.00% 1/1/2043 |  | 1910 | 1949 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-3, 2.125% 11/15/2027<sup>1</sup> |  | 2085 | 1977 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-2, 2.375% 11/15/2028<sup>1</sup> |  | 1250 | 1179 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-1, 3.125% 5/15/2029<sup>1</sup> |  | 1000 | 898 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2046<sup>1</sup> |  | 230 | 207 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2051<sup>1</sup> |  | 200 | 177 |
| Public Works Board, Lease Rev. Bonds, Series 2021-C, 4.00% 11/1/2046 |  | 630 | 628 |
| Public Works Board, Lease Rev. Bonds, Series 2021-C, 5.00% 11/1/2046 |  | 1000 | 1123 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2020-D, 5.00% 11/1/2029 |  | 1000 | 1184 |
| Public Works Board, Lease Rev. Bonds (Various Capital Projects), Series 2013-I, 5.25% 11/1/2032 |  | 2500 | 2555 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2021-A, 5.00% 2/1/2030 |  | 4000 | 4757 |

---

106 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-A, 5.00% 8/1/2032 | USD | 1300 | $1588 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-C, 5.00% 8/1/2034 |  | 3000 | 3614 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-A, 5.00% 8/1/2035 |  | 795 | 944 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-C, 5.00% 8/1/2035 |  | 3000 | 3564 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2022-C, 5.00% 8/1/2036 |  | 3260 | 3821 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2025 |  | 1000 | 1020 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2027 |  | 425 | 435 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2028 |  | 1185 | 1212 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2030 |  | 1390 | 1415 |
| City of Rancho Mirage, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds, Series 2013-A, BAM insured, 5.00% 4/1/2023 |  | 1835 | 1842 |
| City of Rancho Santa Fe, Community Services Dist., Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2029 |  | 1500 | 1615 |
| City of Rialto, Community Facs. Dist. No. 2019-2 (Foothill/Spruce), Special Tax Bonds, Series 2022, 4.375% 9/1/2051 |  | 2775 | 2645 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 9/1/2026 |  | 335 | 358 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 9/1/2033 |  | 310 | 335 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2016, BAM insured, 5.00% 9/1/2034 |  | 1000 | 1076 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2028 (preref. 9/1/2024) |  | 490 | 511 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2029 (preref. 9/1/2024) |  | 540 | 563 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2035 (preref. 9/1/2024) |  | 1150 | 1198 |
| County of Riverside, Public Fncg. Auth., Tax Allocation Rev. Bonds (Project Area No. 1, Desert Communities and Interstate 215 Corridor Projects), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 10/1/2026 |  | 1235 | 1317 |
| County of Riverside, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 600 | 625 |
| County of Riverside, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Jurupa Valley Redev. Project Area), Series 2016-B, BAM insured, 4.00% 10/1/2032 |  | 1000 | 1030 |
| County of Riverside, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Jurupa Valley Redev. Project Area), Series 2015-B, Assured Guaranty Municipal insured, 4.00% 10/1/2037 |  | 2500 | 2536 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds, Series 2021-B-1, BAM insured, 3.00% 6/1/2049 |  | 12985 | 10601 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds (RCTC 91 Express Lanes), Series 2021-B-1, 4.00% 6/1/2046 |  | 2480 | 2429 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2027 |  | 1480 | 1567 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2028 |  | 2135 | 2264 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2030 |  | 2175 | 2309 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 1040 | 1100 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2032 |  | 1115 | 1178 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2035 |  | 1000 | 1051 |
| Riverside Unified School Dist., G.O. Bonds, 2016 Election, Series 2019-B, 3.00% 8/1/2036 |  | 1070 | 1011 |
| Romoland School Dist., Community Facs. Dist. No. 2004-1 (Heritage Lake), Improvement Area No. 4, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2050 |  | 4725 | 4237 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2026 |  | 500 | 527 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2037 |  | 1750 | 1802 |
| City of Roseville, Community Facs. Dist. No. 5 (Fiddyment Ranch), Special Tax Bonds, Series 2021, 4.00% 9/1/2050 |  | 4000 | 3651 |

---

American Funds Tax-Exempt Funds 107

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Roseville Joint Union High School Dist., G.O. Bonds, 2016 Election, Series 2017-A, 4.00% 8/1/2045 | USD | 4000 | $4018 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% 9/1/2025 |  | 100 | 106 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% 9/1/2028 |  | 1735 | 1844 |
| City of Sacramento, Community Drainage Facs. Dist. No. 97-1 (North Natomas), Special Tax Bonds, Series 2015, 5.00% 9/1/2035 |  | 2910 | 3061 |
| City of Sacramento, Community Facs. Dist. No. 4 (North Natomas), Special Tax Rev. Ref. Bonds, Series 2013-E, 5.25% 9/1/2024 |  | 1160 | 1178 |
| City of Sacramento, Community Facs. Dist. No. 4 (North Natomas), Special Tax Rev. Ref. Bonds, Series 2013-E, 5.25% 9/1/2033 |  | 1365 | 1381 |
| City of Sacramento, Fncg. Auth., Rev. Ref. Bonds (Master Lease Program Facs.), Series 2006-E, AMBAC insured, 5.25% 12/1/2025 |  | 7500 | 8124 |
| City of Sacramento, Municipal Utility Dist., Electric Rev. Bonds, Series 2013-A, 5.00% 8/15/2037 |  | 1500 | 1520 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2036 |  | 1000 | 1064 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2041 |  | 4200 | 4361 |
| County of Sacramento, Community Facs. Dist. No. 2004-1 (McClellan Park), Special Tax Bonds, Series 2017, 5.00% 9/1/2040 |  | 1960 | 2031 |
| County of Sacramento, Water Fncg. Auth., Rev. Ref. Bonds (Water Agcy. Zones 40 and 41), Series 2007-B, FGIC-National insured, (3-month USD-LIBOR + 0.55%) 3.739% 6/1/2034<sup>2</sup> |  | 6295 | 6177 |
| Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2022-A, BAM insured, 5.50% 8/1/2047 |  | 1060 | 1216 |
| Sacramento Unified School Dist., G.O. Bonds, 2021 Election, Series 2021-G, Assured Guaranty Municipal insured, 4.00% 8/1/2044 |  | 935 | 945 |
| Sacramento Unified School Dist., G.O. Bonds, 2021 Election, Series 2021-G, Assured Guaranty Municipal insured, 4.00% 8/1/2049 |  | 2810 | 2815 |
| Sacramento Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022, BAM insured, 5.00% 7/1/2029 |  | 585 | 678 |
| County of San Bernardino and Cities of Colton, Loma Linda and San Bernardino, Successor Agcy. to the Inland Valley Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, 5.00% 9/1/2044 |  | 10500 | 10657 |
| San Bernardino Unified School Dist., G.O. Rev. Ref. Bonds, Series 2013-A, Assured Guaranty Municipal insured, 5.00% 8/1/2026 |  | 1000 | 1013 |
| San Bernardino Unified School Dist., G.O. Rev. Ref. Bonds, Series 2013-A, Assured Guaranty Municipal insured, 5.00% 8/1/2027 |  | 1000 | 1013 |
| City of San Clemente, Community Facs. Dist. No. 2006-1 (Marblehead Coastal), Special Tax Bonds, Series 2015, 5.00% 9/1/2028 |  | 940 | 989 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2021-A, 4.00% 7/1/2046 |  | 1750 | 1737 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2021-A, 4.00% 7/1/2051 |  | 2000 | 1969 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2021-A, 4.00% 7/1/2056 |  | 31385 | 30596 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2021-A, 5.00% 7/1/2056 |  | 2140 | 2301 |
| County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-B, 5.00% 7/1/2033 |  | 2000 | 2345 |
| County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-B, 5.00% 7/1/2034 |  | 1940 | 2248 |
| San Diego Community College Dist., G.O. Bonds, Convertible Capital Appreciation Bonds, Series 2013, 0% 8/1/2041 (6.23% on 8/1/2032)<sup>3</sup> |  | 12990 | 7370 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2018-E-2, 5.00% 5/1/2048 |  | 2000 | 2129 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-F-2, 5.00% 5/1/2050 |  | 12500 | 13450 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2022-B-2, 4.00% 5/1/2052 |  | 3235 | 3249 |
| City and County of San Francisco, Community Facs. Dist. No. 2014-1 (Transbay Transit Center), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2047 |  | 675 | 735 |
| City and County of San Francisco, Community Facs. Dist. No. 2014-1 (Transbay Transit Center), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2052 |  | 510 | 552 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 3075 | 2737 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2020-C, 4.00% 11/1/2050 |  | 2000 | 2003 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2036<sup>1</sup> |  | 805 | 784 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2046<sup>1</sup> |  | 3500 | 3063 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051<sup>1</sup> |  | 1015 | 857 |

---

108 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2039 | USD | 3955 | $4014 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2044 |  | 3505 | 3543 |
| City of San Francisco, Municipal Transportation Agcy., Rev. Green Bonds, Series 2021-C, 4.00% 3/1/2051 |  | 5000 | 4901 |
| San Francisco Community College Dist., G.O. Bonds, 2020 Election, Series 2020-A, 4.00% 6/15/2045 |  | 1500 | 1502 |
| San Francisco Unified School Dist., G.O. Bonds, 2016 Election, Series 2020-B, 4.00% 6/15/2035 |  | 800 | 854 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2044 |  | 3600 | 3737 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2049 |  | 5300 | 5482 |
| San Leandro Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, BAM insured, 4.00% 8/1/2023 |  | 500 | 504 |
| San Leandro Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, BAM insured, 4.00% 8/1/2043 |  | 1300 | 1316 |
| San Lorenzo Valley Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, 4.00% 8/1/2045 |  | 750 | 754 |
| San Mateo Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2005 Election, Series 2006-B, National insured, 0% 9/1/2031 |  | 29425 | 23341 |
| City of San Ramon, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, BAM insured, 5.00% 2/1/2028 |  | 400 | 421 |
| City of San Ramon, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, BAM insured, 5.00% 2/1/2038 |  | 2500 | 2600 |
| Sanger Unified School Dist., Certs. of Part. (Capital Projects and Refinancing), Series 2022, Assured Guaranty Municipal insured, 5.00% 6/1/2049 |  | 5000 | 5211 |
| Sanger Unified School Dist., Certs. of Part. (Capital Projects and Refinancing), Series 2022, Assured Guaranty Municipal insured, 5.00% 6/1/2052 |  | 3500 | 3512 |
| Sanger Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 4.00% 8/1/2055 |  | 1205 | 1201 |
| Santa Ana Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2009-B, Assured Guaranty insured, 0% 8/1/2034 |  | 10000 | 6733 |
| Santa Clara Valley Water Dist., Water System Rev. Ref. Bonds, Series 2020-A, 5.00% 6/1/2050 |  | 1750 | 1945 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2040<sup>1</sup> |  | 3035 | 2881 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2045<sup>1</sup> |  | 4110 | 3794 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 2220 | 2048 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2049 |  | 2410 | 2178 |
| Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1, Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2035 |  | 1725 | 1790 |
| Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1, Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2036 |  | 1780 | 1839 |
| Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1, Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2041 |  | 3720 | 3802 |
| Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1, Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2046 |  | 4740 | 4829 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% 10/1/2061<sup>1</sup> |  | 305 | 310 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2015-A, 6.375% 7/1/2046 (preref. 7/1/2025)<sup>1</sup> |  | 1960 | 2153 |
| City of South San Francisco, Community Facs. Dist. No. 2021-01 (Oyster Point), Special Tax Bonds (Public Facs. and Services), Series 2022, 5.00% 9/1/2052 |  | 2500 | 2588 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-02 (Citro), Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 6850 | 7006 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Bonds (Catholic Healthcare West), Series 2007-F, Assured Guaranty Municipal insured, 3.00% 7/1/2040<sup>2</sup> |  | 4775 | 4775 |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2006-C, 2.625% 11/1/2033 (put 12/1/2023) |  | 5200 | 5148 |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2006-D, 2.625% 11/1/2033 (put 12/1/2023) |  | 2820 | 2792 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2037 |  | 1000 | 874 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2046 |  | 5585 | 4294 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 2.50% 4/1/2051 |  | 1100 | 714 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2051 |  | 5745 | 4204 |

---

American Funds Tax-Exempt Funds 109

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 4.00% 4/1/2051 | USD | 750 | $729 |
| Statewide Communities Dev. Auth., Rev. Bonds (Huntington Memorial Hospital), Series 2014, 5.00% 7/1/2044 (preref. 7/1/2024) |  | 6600 | 6852 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Permanente), Series 2004-L, 5.00% 4/1/2038 (put 11/1/2029) |  | 4000 | 4667 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Plaza Project), Series 2013, 5.125% 11/1/2023 |  | 150 | 151 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.00% 12/1/2025<sup>1</sup> |  | 2500 | 2580 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.00% 12/1/2041<sup>1</sup> |  | 3425 | 3436 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.25% 12/1/2056<sup>1</sup> |  | 1000 | 1002 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 5.00% 6/1/2036<sup>1</sup> |  | 750 | 752 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 3.00% 5/15/2051 |  | 1000 | 798 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 3.00% 5/15/2054 |  | 1000 | 778 |
| City of Stockton, Community Facs. Dist. No. 2018-2 (Westlake Villages II), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1235 | 1129 |
| City of Stockton, Community Facs. Dist. No. 2018-2 (Westlake Villages II), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 2045 | 1823 |
| Stockton Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2040 |  | 2210 | 2302 |
| Stockton Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2045 |  | 3755 | 3823 |
| City of Suisun, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-B, BAM insured, 5.00% 10/1/2032 |  | 1245 | 1304 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2029 |  | 1005 | 1060 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2030 |  | 630 | 665 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 1295 | 1366 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2032 |  | 2965 | 3122 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2033 |  | 2135 | 2244 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2035 |  | 500 | 522 |
| Temescal Valley Water Dist., Community Facs. Dist. No. 4 (Terramor), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1575 | 1486 |
| Temescal Valley Water Dist., Community Facs. Dist. No. 4 (Terramor), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 500 | 458 |
| Temescal Valley Water Dist., Community Facs. Dist. No. 4 (Terramor), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1305 | 1172 |
| City of Thousand Oaks, Community Facs. Dist. No. 1994-1 (Marketplace Public Pedestrian, Traffic Circulation and Parking Facs.), Special Tax Rev. Ref. Bonds, Series 2012, 5.375% 9/1/2031 |  | 1010 | 1022 |
| Tobacco Securitization Auth., Tobacco Settlement Asset-Backed Rev. Ref. Senior Bonds (Sacramento County Tobacco Securitization Corp), Series 2021-A-1, 4.00% 6/1/2034 |  | 665 | 686 |
| City of Tracy, Successor Agcy. to the Community Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.00% 8/1/2032 |  | 2655 | 2666 |
| City of Tracy, Successor Agcy. to the Community Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.00% 8/1/2033 |  | 1380 | 1381 |
| Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 10/1/2045 |  | 1000 | 1047 |
| City of Turlock, Irrigation Dist., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2041 |  | 8640 | 9254 |
| City of Turlock, Irrigation Dist., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2046 |  | 6755 | 7184 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2035 |  | 1215 | 1275 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2037 |  | 1000 | 1043 |

---

110 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2045 | USD | 300 | $305 |
| Tustin Unified School Dist., Community Facs. Dist. No. 88-1, Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2023 |  | 545 | 553 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, 5.00% 9/1/2026 |  | 1285 | 1357 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, 5.00% 9/1/2028 |  | 1265 | 1336 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, BAM insured, 5.00% 9/1/2033 |  | 4000 | 4253 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, BAM insured, 5.00% 9/1/2038 |  | 2155 | 2247 |
| Twin Rivers Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2016, Assured Guaranty Municipal insured, 0% 8/1/2041 |  | 5750 | 2566 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2017-M, 5.00% 5/15/2047 |  | 8500 | 9099 |
| Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2016-L, 4.00% 5/15/2037 |  | 2300 | 2337 |
| Vacaville Unified School Dist., G.O. Bonds, 2014 Election, Series 2020-D, 4.00% 8/1/2045 |  | 1850 | 1857 |
| Vacaville Unified School Dist., Local Facs. Fin. Corp. Certs. of Part., Series 2021, Assured Guaranty Municipal insured, 4.00% 12/1/2040 |  | 1905 | 1944 |
| Vacaville Unified School Dist., Local Facs. Fin. Corp. Certs. of Part., Series 2021, Assured Guaranty Municipal insured, 4.00% 12/1/2042 |  | 1575 | 1596 |
| Val Verde Unified School Dist., G.O. Bonds, 2012 Election, Series 2020-E, BAM insured, 4.00% 8/1/2046 |  | 1730 | 1738 |
| Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, BAM insured, 4.00% 8/1/2046 |  | 1650 | 1657 |
| Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2046 |  | 490 | 496 |
| Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2051 |  | 650 | 655 |
| Various Purpose G.O. Rev. Ref. Bonds, Series 2013, 5.00% 2/1/2028 |  | 3100 | 3100 |
| Various Purpose G.O. Rev. Ref. Bonds, Series 2013, 5.00% 2/1/2033 |  | 2590 | 2590 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2023 |  | 580 | 585 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2024 |  | 700 | 719 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2025 |  | 500 | 523 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 4/1/2026 |  | 1000 | 1060 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2026 |  | 600 | 640 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 10/1/2026 |  | 1650 | 1764 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2027 |  | 950 | 1030 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 10/1/2027 |  | 320 | 348 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 4/1/2028 |  | 140 | 153 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2038 |  | 825 | 899 |
| Walnut Valley Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2007 Election, Series 2011-B, BAM insured, 0% 8/1/2036 |  | 5655 | 3401 |
| Washington Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2006-B, National insured, 0% 8/1/2031 |  | 1000 | 768 |
| West Contra Costa Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A-1, Assured Guaranty Municipal insured, 3.00% 8/1/2046 |  | 3500 | 2876 |
| West Contra Costa Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2005-D, National insured, 0% 8/1/2031 |  | 2000 | 1541 |
| City of West Sacramento, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, 5.00% 9/1/2027 |  | 350 | 382 |
| City of West Sacramento, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, 5.00% 9/1/2028 |  | 550 | 600 |
| City of West Sacramento, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, 5.00% 9/1/2031 |  | 675 | 735 |
| City of West Sacramento, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2032 |  | 1400 | 1456 |
| City of West Sacramento, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2033 |  | 1455 | 1508 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2030 |  | 1035 | 1132 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2034 |  | 1165 | 1269 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2044 |  | 1105 | 1171 |

---

American Funds Tax-Exempt Funds 111

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds, Series 2021, 4.00% 9/1/2036 | USD | 1635 | $1682 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds, Series 2021, 4.00% 9/1/2041 |  | 3645 | 3675 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds, Series 2021, 4.00% 9/1/2046 |  | 2000 | 2000 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Capital Projects Bonds, Series 2021, 4.00% 9/1/2050 |  | 4815 | 4784 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Rev. Ref. and Capital Projects Bonds, Series 2016, 4.00% 9/1/2041 |  | 2380 | 2266 |
|  |  |  | **1393682** |
| **Colorado 1.96%** |  |  |  |
| County of Adams, DIATC Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2019, 5.00% 12/1/2049<sup>1</sup> |  | 2000 | 1801 |
| County of Arapahoe, Copperleaf Metropolitan Dist. No. 4, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2020-A, 5.00% 12/1/2039 |  | 3235 | 3174 |
| City of Arvada, Mountain Shadows Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 12/1/2046 |  | 1000 | 943 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 195 | 199 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2023 |  | 120 | 122 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2024 |  | 200 | 208 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2024 |  | 135 | 141 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2025 |  | 180 | 192 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2025 |  | 125 | 134 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 195 | 212 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2026 |  | 270 | 291 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 200 | 222 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2027 |  | 125 | 135 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2028 |  | 210 | 237 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2028 |  | 260 | 280 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 210 | 240 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2029 |  | 125 | 135 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2030 |  | 215 | 245 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2030 |  | 250 | 269 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2031 |  | 230 | 262 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/15/2031 |  | 135 | 145 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2033 |  | 255 | 289 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2034 |  | 285 | 320 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2020, Assured Guaranty Municipal insured, 5.00% 12/1/2035 |  | 100 | 111 |

---

112 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 5.00% 12/1/2050 | USD | 1500 | $1568 |
| City of Arvada, Vauxmont Metropolitan Dist., Limited Tax G.O. and Special Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2019, Assured Guaranty Municipal insured, 3.25% 12/15/2050 |  | 1845 | 1577 |
| City of Aurora, Aurora Crossroads Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2040 |  | 1480 | 1408 |
| City of Aurora, Aurora Crossroads Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2050 |  | 2610 | 2352 |
| City of Aurora, Colorado International Center Metropolitan Dist. No. 3, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2016, 5.00% 12/1/2046 |  | 6285 | 6010 |
| City of Aurora, Colorado Science and Technology Park Metropolitan Dist. No.1, Special Rev. Ref. and Improvement Bonds, Series 2018, 4.375% 12/1/2026 |  | 2678 | 2644 |
| City of Aurora, Colorado Science and Technology Park Metropolitan Dist. No.1, Special Rev. Ref. and Improvement Bonds, Series 2018, 5.00% 12/1/2033 |  | 2140 | 2143 |
| City of Aurora, Painted Prairie Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2018, 5.25% 12/1/2048 |  | 1000 | 954 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-1, 3.50% 12/1/2027 |  | 500 | 472 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2037 |  | 1275 | 1276 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-2, 5.00% 12/1/2037 |  | 200 | 200 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2047 |  | 5255 | 5039 |
| City and County of Broomfield, Arista Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.125% 12/1/2048 |  | 8405 | 8008 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 5.50% 12/15/2035 |  | 1000 | 737 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 5.75% 12/15/2046 |  | 1800 | 1211 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 6.00% 12/15/2050 |  | 1650 | 1115 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 3.50% 12/1/2026 |  | 8203 | 7956 |
| Certs. of Part., Series 2021-A, 4.00% 12/15/2036 |  | 1500 | 1572 |
| Certs. of Part., Series 2021-A, 3.00% 12/15/2037 |  | 9065 | 8369 |
| Certs. of Part., Series 2021-A, 4.00% 12/15/2038 |  | 1000 | 1028 |
| Certs. of Part., Series 2021-A, 4.00% 12/15/2039 |  | 1500 | 1534 |
| Certs. of Part., Series 2021-A, 4.00% 12/15/2040 |  | 1500 | 1527 |
| City and County of Denver, Central Platte Valley Metropolitan Dist., G.O. Rev. Ref. Bonds, Series 2013-A, 5.375% 12/1/2033 (preref. 12/1/2023) |  | 1750 | 1790 |
| City and County of Denver, Dedicated Tax Rev. Bonds, Capital Appreciation Bonds, Series 2018-A-2, 0% 8/1/2033 |  | 2000 | 1337 |
| City and County of Denver, Dedicated Tax Rev. Bonds, Capital Appreciation Bonds, Series 2018-A-2, 0% 8/1/2034 |  | 2000 | 1274 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2017-B, 5.00% 11/15/2033 |  | 6500 | 7256 |
| City and County of Denver, Dept. of Aviation, Airport System Rev. Bonds, Series 2018-A, 5.00% 12/1/2048 |  | 13515 | 14474 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Bonds, Series 2016-A, National insured, 5.00% 12/1/2029 |  | 1510 | 1639 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Bonds, Series 2017-A, 5.00% 12/1/2041 |  | 4750 | 4931 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2026 |  | 1000 | 1065 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2027 |  | 1000 | 1063 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2028 |  | 4485 | 4755 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2029 |  | 2660 | 2816 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2030 |  | 1500 | 1584 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2031 |  | 1140 | 1202 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2032 |  | 1685 | 1775 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2045 |  | 1250 | 1290 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2013-A-1, 5.00% 12/1/2024 |  | 1045 | 1047 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2013-A-1, 5.00% 12/1/2025 |  | 3500 | 3506 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2018-A, 5.25% 12/1/2039<sup>1</sup> |  | 530 | 538 |

---

American Funds Tax-Exempt Funds 113

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 9/1/2039 (put 9/1/2024)<sup>2</sup> | USD | 2315 | $2305 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2004-A, National insured, 0% 9/1/2027 |  | 3250 | 2860 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2000-B, National insured, 0% 9/1/2030 |  | 14065 | 11238 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2000-B, National insured, 0% 9/1/2031 |  | 1375 | 1061 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2010-A, Assured Guaranty Municipal insured, 0% 9/1/2035 |  | 14760 | 9632 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2041 |  | 65 | 58 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2051 |  | 200 | 169 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2061 |  | 255 | 206 |
| Educational and Cultural Facs. Auth., Rev. Ref. Bonds (Johnson & Wales University Project), Series 2013-B, 5.00% 4/1/2027 (preref. 4/1/2023) |  | 1500 | 1506 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 125 | 128 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2025 |  | 150 | 161 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 105 | 115 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 110 | 123 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 150 | 173 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2030 |  | 150 | 173 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2031 |  | 155 | 179 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2032 |  | 175 | 201 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2033 |  | 185 | 211 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2034 |  | 200 | 227 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2035 |  | 215 | 242 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 4.00% 12/1/2039 |  | 1750 | 1774 |
| Counties of Garfield and Mesa, Grand River Hospital Dist., Unlimited Tax G.O. Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 2050 | 2084 |
| City of Greenwood Village, Fiddler's Business Improvement Dist., G.O. Rev. Ref. Bonds, Series 2022, 5.00% 12/1/2032<sup>1</sup> |  | 395 | 404 |
| City of Greenwood Village, Fiddler's Business Improvement Dist., G.O. Rev. Ref. Bonds, Series 2022, 5.55% 12/1/2047<sup>1</sup> |  | 1495 | 1523 |
| Health Facs. Auth., Health Care Facs. Rev. Bonds (American Baptist Homes of the Midwest Obligated Group), Series 2013, 8.00% 8/1/2043 |  | 6300 | 6392 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2032 |  | 3460 | 3840 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2033 (preref. 6/1/2027) |  | 6910 | 7668 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2037 (preref. 6/1/2027) |  | 2020 | 2242 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2015-A, 5.00% 6/1/2045 (preref. 6/1/2025) |  | 2500 | 2654 |
| Health Facs. Auth., Health Facs. Rev. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2013, 5.00% 6/1/2028 (preref. 6/1/2023) |  | 1250 | 1260 |
| Health Facs. Auth., Health Facs. Rev. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2013, 5.50% 6/1/2033 (preref. 6/1/2023) |  | 2000 | 2018 |

---

114 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| Health Facs. Auth., Health Facs. Rev. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2013, 5.625% 6/1/2043 (preref. 6/1/2023) | USD | 1000 | $1010 |
| Health Facs. Auth., Hospital Rev. Bonds (AdventHealth Obligated Group), Series 2021-A, 4.00% 11/15/2046 |  | 1500 | 1453 |
| Health Facs. Auth., Hospital Rev. Bonds (AdventHealth Obligated Group), Series 2021-A, 3.00% 11/15/2051 |  | 6500 | 5108 |
| Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2016-C, 5.00% 11/15/2036 (put 11/15/2026) |  | 5700 | 6167 |
| Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2016-A, 5.00% 11/15/2041 |  | 2130 | 2232 |
| Health Facs. Auth., Hospital Rev. Bonds (Adventist Health System/Sunbelt Obligated Group), Series 2018-A, 5.00% 11/15/2048 |  | 7855 | 8288 |
| Health Facs. Auth., Hospital Rev. Bonds (Children's Hospital Colorado Project), Series 2013-A, 5.00% 12/1/2033 |  | 12000 | 12105 |
| Health Facs. Auth., Hospital Rev. Bonds (Parkview Medical Center, Inc. Project), Series 2020-A, 4.00% 9/1/2045 |  | 1000 | 920 |
| Health Facs. Auth., Hospital Rev. Bonds (Parkview Medical Center, Inc. Project), Series 2020-A, 4.00% 9/1/2050 |  | 1625 | 1410 |
| Health Facs. Auth., Retirement Housing Rev. Bonds (Liberty Heights Project), Capital Appreciation Bonds, Series 1991-B, 0% 7/15/2024 (escrowed to maturity) |  | 1765 | 1699 |
| Health Facs. Auth., Rev. Bonds (Christian Living Neighborhoods Project), Series 2019-A-1, 4.00% 8/1/2044 |  | 1000 | 964 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-2, 3.25% 8/1/2049 |  | 1995 | 1516 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-2, 4.00% 8/1/2049 |  | 3930 | 3701 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2020-A, 4.00% 12/1/2040 |  | 1000 | 905 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2020-A, 4.00% 12/1/2050 |  | 5250 | 4481 |
| Health Facs. Auth., Rev. Bonds (Covenant Retirement Communities, Inc.), Series 2018, 5.00% 12/1/2048 |  | 11485 | 11624 |
| Health Facs. Auth., Rev. Bonds (Intermountain Healthcare), Series 2022-A, 4.00% 5/15/2052 |  | 10735 | 10532 |
| Health Facs. Auth., Rev. Bonds (Senior Residences Project), Series 2012, 7.00% 6/1/2042<sup>4</sup> |  | 2500 | 1250 |
| Health Facs. Auth., Rev. Bonds (Senior Residences Project), Series 2012, 7.125% 6/1/2047<sup>4</sup> |  | 2665 | 1333 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2019, 4.00% 1/1/2024 |  | 270 | 267 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2025 |  | 565 | 564 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2026 |  | 750 | 747 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2015-A, 5.00% 12/1/2028 |  | 1065 | 1091 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2015-A, 5.00% 12/1/2029 |  | 805 | 824 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2015-A, 5.00% 12/1/2035 |  | 1790 | 1813 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2013-A, 5.75% 12/1/2036 |  | 3000 | 3083 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2018-A, 5.00% 12/1/2043 |  | 1000 | 1016 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-A, 5.00% 1/1/2032 |  | 4000 | 4633 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-A, 4.00% 1/1/2036 |  | 5750 | 6004 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-A, 4.00% 1/1/2037 |  | 4000 | 4143 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-A, 4.00% 1/1/2038 |  | 5800 | 5981 |
| Health Facs. Auth., Rev. Ref. Bonds (Sisters of Charity of Leavenworth Health System), Series 2019-B, 4.00% 1/1/2040 |  | 9785 | 9952 |
| Housing and Fin. Auth., Multi Family Housing Rev. Bonds (Wildhorse Ridge Apartments Project), Series 2022, 2.00% 2/1/2026 (put 2/1/2025) |  | 7150 | 7016 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2017-C, Class I, 4.00% 5/1/2048 |  | 1990 | 2006 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-B-1, Class I, 4.00% 11/1/2048 |  | 7105 | 7168 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2018-C, Class I, 4.25% 11/1/2048 |  | 1350 | 1371 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-E, Class I, 4.25% 5/1/2049 |  | 7125 | 7252 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-F, Class I, 4.25% 11/1/2049 |  | 1215 | 1239 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-H, Class III, 4.25% 11/1/2049 |  | 5125 | 5233 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-H, Class I, 3.00% 5/1/2050 |  | 7170 | 7081 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-B, Class I, 3.75% 5/1/2050 |  | 12855 | 12937 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2019-K, Class I, 3.875% 5/1/2050 |  | 8735 | 8817 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-E, Class I, 3.00% 11/1/2051 |  | 1325 | 1306 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-H, Class I, 3.00% 11/1/2051 |  | 2485 | 2446 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2021-L, Class I, 3.25% 11/1/2051 |  | 11735 | 11655 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-B, Class I, 3.25% 5/1/2052 |  | 1970 | 1956 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2022-E, Class I, 5.25% 11/1/2052 |  | 6480 | 6939 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.25% 11/15/2028 |  | 4000 | 4393 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.50% 11/15/2038 |  | 24700 | 30632 |
| Regional Transportation Dist., Certs. of Part., Series 2014-A, 5.00% 6/1/2044 (preref. 6/1/2023) |  | 9500 | 9577 |

---

American Funds Tax-Exempt Funds 115

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% 1/15/2033 | USD | 500 | $515 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% 7/15/2033 |  | 1570 | 1625 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% 7/15/2036 |  | 700 | 700 |
| Town of Snowmass Village, Base Village Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 5.75% 12/1/2046 |  | 1575 | 1584 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2019-A, 3.00% 12/1/2025 |  | 560 | 534 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2019-A, 4.00% 12/1/2029 |  | 2065 | 1956 |
| Weld County School Dist. No. RE-4, G.O. Bonds, Series 2023, 5.00% 12/1/2042 |  | 2145 | 2429 |
| Weld County School Dist. No. 6, G.O. Bonds, Series 2021, 4.00% 12/1/2045 |  | 2705 | 2738 |
|  |  |  | **443097** |
| **Connecticut 0.84%** |  |  |  |
| G.O. Bonds, Series 2021-A, 3.00% 1/15/2033 |  | 585 | 586 |
| G.O. Bonds, Series 2022-C, 5.00% 6/15/2037 |  | 210 | 240 |
| G.O. Bonds, Series 2022-B, 4.00% 1/15/2038 |  | 2990 | 3100 |
| Health and Educational Facs. Auth., Rev. Bonds (Covenant Home, Inc.), Series 2018-B, 5.00% 12/1/2027 |  | 125 | 132 |
| Health and Educational Facs. Auth., Rev. Bonds (Covenant Home, Inc.), Series 2018-B, 5.00% 12/1/2029 |  | 430 | 455 |
| Health and Educational Facs. Auth., Rev. Bonds (Covenant Home, Inc.), Series 2018-B, 5.00% 12/1/2037 |  | 3210 | 3297 |
| Health and Educational Facs. Auth., Rev. Bonds (Fairfield University Issue), Series 2022-U, 4.00% 7/1/2052 |  | 3000 | 2821 |
| Health and Educational Facs. Auth., Rev. Bonds (Fairfield University Issue), Series 2020-T, 4.00% 7/1/2055 |  | 3430 | 3211 |
| Health and Educational Facs. Auth., Rev. Bonds (Griffin Hospital Issue), Series 2020-G-1, 5.00% 7/1/2050<sup>1</sup> |  | 735 | 710 |
| Health and Educational Facs. Auth., Rev. Bonds (Nuvance Health Issue), Series 2019-A, 4.00% 7/1/2034 |  | 3000 | 3006 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2025 |  | 1460 | 1536 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2030 |  | 2265 | 2429 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2031 |  | 3000 | 3216 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2035 |  | 2895 | 3056 |
| Health and Educational Facs. Auth., Rev. Bonds (Quinnipiac University Issue), Series 2016-M, 5.00% 7/1/2036 |  | 2990 | 3140 |
| Health and Educational Facs. Auth., Rev. Bonds (Sacred Heart University Issue), Series 2022-L, 5.00% 7/1/2052 |  | 25475 | 27206 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2035 |  | 2545 | 2562 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2036 |  | 5880 | 5843 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2039 |  | 3045 | 2939 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2040 |  | 3085 | 2944 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2042 |  | 1995 | 1863 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2014-A, 1.10% 7/1/2048 (put 2/7/2023) |  | 3100 | 3099 |
| Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2010-A-3, 0.25% 7/1/2049 (put 2/9/2024) |  | 1915 | 1854 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-D-1, 3.20% 11/15/2032 |  | 1565 | 1570 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 3.40% 11/15/2032 |  | 470 | 458 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-1, 3.50% 5/15/2033 |  | 405 | 413 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2020-A-1, 2.30% 11/15/2035 |  | 1000 | 877 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-E-1, 3.00% 11/15/2036 |  | 4850 | 4484 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 3.65% 11/15/2037 |  | 4175 | 4019 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-E-1, 4.25% 5/15/2042 |  | 2980 | 3026 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-F-1, 3.50% 11/15/2043 |  | 5275 | 5276 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2020-C-1, 3.25% 5/15/2044 |  | 16265 | 16165 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-A-1, 4.00% 11/15/2045 |  | 1160 | 1164 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-C-1, 4.00% 11/15/2045 |  | 7130 | 7214 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-A-1, 4.00% 11/15/2045 |  | 1750 | 1770 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-E-1, 3.50% 11/15/2046 |  | 3615 | 3611 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-F-1, 4.00% 5/15/2047 |  | 3055 | 3089 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-A-1, 4.00% 11/15/2047 |  | 950 | 958 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-C-1, 4.00% 11/15/2047 |  | 1360 | 1371 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2017-D-1, 4.00% 11/15/2047 |  | 1950 | 1966 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-B-1, 4.00% 5/15/2049 |  | 2915 | 2971 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2021-B-1, 3.00% 11/15/2049 |  | 2620 | 2581 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-D-1, 4.00% 11/15/2049 |  | 9000 | 9175 |

---

116 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Connecticut (continued)** |  |  |  |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-C-4, (SIFMA Municipal Swap Index + 0.625%) 2.285% 5/15/2051 (put 11/15/2024)<sup>2</sup> | USD | 3905 | $3897 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2021-B-5, 0.45% 11/15/2051 (put 5/15/2024) |  | 4995 | 4785 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2016-C-2, 3.375% 11/15/2051 |  | 1340 | 1216 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2022-A-1, 3.50% 11/15/2051 |  | 685 | 687 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-E-1, 3.25% 11/15/2054 |  | 2120 | 1653 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-A, 3.50% 11/15/2044 |  | 410 | 410 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-C, 6.25% 2/1/2030<sup>1</sup> |  | 5500 | 5739 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-A, 6.75% 2/1/2045<sup>1</sup> |  | 2700 | 2704 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015, 7.00% 2/1/2045<sup>1</sup> |  | 1705 | 1708 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2021-A, 5.00% 5/1/2035 |  | 500 | 586 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2021-D, 5.00% 11/1/2036 |  | 1230 | 1428 |
| Special Tax Obligation Bonds (Transportation Infrastructure Purposes), Series 2020-A, 5.00% 5/1/2040 |  | 2000 | 2238 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2017, 5.00% 4/1/2030<sup>1</sup> |  | 9250 | 9420 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2017, 5.00% 4/1/2039<sup>1</sup> |  | 2250 | 2253 |
|  |  |  | **190127** |
| **Delaware 0.14%** |  |  |  |
| Econ. Dev. Auth., Charter School Rev. Bonds (First State Montessori Academy, Inc. Project), Series 2019-A, 4.00% 8/1/2029 |  | 460 | 462 |
| Econ. Dev. Auth., Charter School Rev. Bonds (First State Montessori Academy, Inc. Project), Series 2019-A, 5.00% 8/1/2039 |  | 720 | 730 |
| Econ. Dev. Auth., Charter School Rev. Bonds (First State Montessori Academy, Inc. Project), Series 2019-A, 5.00% 8/1/2049 |  | 1800 | 1804 |
| Econ. Dev. Auth., Charter School Rev. Bonds (First State Montessori Academy, Inc. Project), Series 2019-A, 5.00% 8/1/2054 |  | 835 | 830 |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 1.25% 10/1/2045 (put 10/1/2025) |  | 760 | 705 |
| River and Bay Auth., Rev. Bonds, Series 2019, 4.00% 1/1/2039 |  | 4205 | 4300 |
| River and Bay Auth., Rev. Bonds, Series 2019, 4.00% 1/1/2044 |  | 5000 | 5033 |
| Transportation Auth., Grant Anticipation Bonds, Series 2020, 5.00% 9/1/2033 |  | 1250 | 1481 |
| Transportation Auth., Rev. Bonds (U.S. 301 Project), Series 2015, 5.00% 6/1/2055 |  | 12755 | 13048 |
| University of Delaware, Rev. Bonds, Series 2013-A, 5.00% 11/1/2043 |  | 2235 | 2249 |
|  |  |  | **30642** |
| **District of Columbia 1.25%** |  |  |  |
| G.O. Bonds, Series 2017-D, 5.00% 6/1/2035 |  | 5000 | 5491 |
| G.O. Bonds, Series 2017-D, 5.00% 6/1/2036 |  | 7250 | 7914 |
| G.O. Bonds, Series 2014-C, 5.00% 6/1/2038 |  | 1800 | 1848 |
| G.O. Bonds, Series 2016-D, 5.00% 6/1/2041 |  | 3000 | 3199 |
| G.O. Bonds, Series 2017-D, 5.00% 6/1/2042 |  | 2645 | 2843 |
| G.O. Bonds, Series 2019-A, 5.00% 10/15/2044 |  | 2500 | 2753 |
| G.O. Rev. Ref. Bonds, Series 2021-E, 5.00% 2/1/2023 |  | 980 | 980 |
| G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 6/1/2032 |  | 7775 | 8848 |
| G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 6/1/2033 |  | 5110 | 5800 |
| G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 6/1/2035 |  | 3655 | 4091 |
| G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 6/1/2036 |  | 5510 | 6015 |
| G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 6/1/2037 |  | 2500 | 2726 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (Kenilworth 166 Apartments Project), Series 2021, 1.25% 6/1/2025 (put 12/1/2024) |  | 9505 | 9147 |
| Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Strand Residences Project), Series 2022, 2.50% 2/1/2024 (put 8/1/2023) |  | 1100 | 1092 |
| Income Tax Secured Rev. Bonds, Series 2020-C, 5.00% 5/1/2045 |  | 2000 | 2205 |
| Income Tax Secured Rev. Bonds, Series 2022-A, 5.00% 7/1/2047 |  | 6250 | 7052 |
| Metropolitan Area Transit Auth., Dedicated Rev. Green Bonds, Series 2021-A, 3.00% 7/15/2036 |  | 4705 | 4591 |
| Metropolitan Area Transit Auth., Dedicated Rev. Green Bonds, Series 2021-A, 3.00% 7/15/2040 |  | 12340 | 11127 |

---

<br> American Funds Tax-Exempt Funds 117

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **District of Columbia (continued)** |  |  |  |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2029 | USD | 1000 | $1166 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2031 |  | 1415 | 1680 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2033 |  | 2100 | 2479 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2034 |  | 2005 | 2350 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 4.00% 10/1/2035 |  | 1720 | 1798 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 4.00% 10/1/2036 |  | 2380 | 2469 |
| Metropolitan Washington DC Airports Auth., Airport System Rev. Ref. Bonds, Series 2020-B, 4.00% 10/1/2039 |  | 2020 | 2060 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. and Rev. Ref. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2019-B, 4.00% 10/1/2049 |  | 3155 | 3004 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2010-B, 6.50% 10/1/2044<sup>3</sup> |  | 2000 | 2296 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Capital Appreciation Bonds, Series 2010-A, Assured Guaranty Municipal insured, 0% 10/1/2037 |  | 41230 | 21996 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Capital Appreciation Bonds, Series 2010-A, 0% 10/1/2037 |  | 2000 | 1046 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2009-B, Assured Guaranty insured, 0% 10/1/2031 |  | 5100 | 3868 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2009-B, Assured Guaranty insured, 0% 10/1/2033 |  | 6565 | 4575 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2009-B, Assured Guaranty insured, 0% 10/1/2036 |  | 5880 | 3514 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2009-B, Assured Guaranty Municipal insured, 0% 10/1/2038 |  | 27130 | 14687 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2009-B, Assured Guaranty Municipal insured, 0% 10/1/2040 |  | 23255 | 11263 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Ref. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2019-A, 5.00% 10/1/2032 |  | 1800 | 2011 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Ref. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2019-B, Assured Guaranty Municipal insured, 4.00% 10/1/2053 |  | 34470 | 33537 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2036 |  | 2775 | 2850 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2041 |  | 400 | 406 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2046 |  | 1455 | 1471 |
| Rev. Bonds (KIPP DC Issue), Series 2019, 5.00% 7/1/2024 |  | 100 | 102 |
| Rev. Bonds (KIPP DC Issue), Series 2013-A, 6.00% 7/1/2033 (preref. 7/1/2023) |  | 1000 | 1014 |
| Rev. Ref. Bonds (KIPP DC Issue), Series 2017-B, 5.00% 7/1/2048 |  | 4385 | 4427 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2026 |  | 5000 | 5488 |
| Washington Convention and Sports Auth., Dedicated Tax Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2028 |  | 1650 | 1845 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 1998, Assured Guaranty Municipal insured, 5.50% 10/1/2023 |  | 335 | 342 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 1998, Assured Guaranty Municipal insured, 5.50% 10/1/2028 |  | 3925 | 4404 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 2017-B, 5.00% 10/1/2030 |  | 3750 | 4165 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 2017-B, 5.00% 10/1/2031 |  | 3750 | 4159 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 2016-A, 5.00% 10/1/2037 |  | 9320 | 9934 |
| Water and Sewer Auth., Public Utility Rev. Bonds, Series 2016-A, 5.00% 10/1/2039 |  | 7630 | 8113 |
| Water and Sewer Auth., Public Utility Rev. Green Bonds, Series 2018-A, 5.00% 10/1/2049 |  | 12400 | 13287 |
| Water and Sewer Auth., Public Utility Rev. Green Bonds, Series 2017-A, 5.00% 10/1/2052 |  | 16000 | 16940 |
|  |  |  | **282468** |
| **Florida 5.18%** |  |  |  |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2022, 4.00% 10/1/2040 |  | 1475 | 1258 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-B-1, 5.00% 12/1/2037 (put 12/1/2026) |  | 2000 | 2145 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-A, 4.00% 12/1/2049 |  | 15500 | 14638 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds (Shands HealthCare Project), Series 2014-A, 5.00% 12/1/2036 |  | 1285 | 1311 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2024 |  | 160 | 162 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2028 |  | 1480 | 1530 |

---

118 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2029 | USD | 420 | $432 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2030 |  | 435 | 446 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2031 |  | 460 | 471 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2032 |  | 480 | 490 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2043 |  | 735 | 725 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2048 |  | 2690 | 2621 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2053 |  | 6300 | 6079 |
| County of Brevard, Educational Facs. Auth., Demand Rev. Bonds (Florida Institute of Technology Project), Series 2014, 5.00% 4/1/2032 |  | 5000 | 5114 |
| County of Brevard, Educational Facs. Auth., Demand Rev. Bonds (Florida Institute of Technology Project), Series 2014, 5.00% 4/1/2039 |  | 4835 | 4945 |
| County of Brevard, Heritage Isle at Viera Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2017, Assured Guaranty Municipal insured, 3.20% 5/1/2032 |  | 1095 | 1115 |
| County of Broward, North Springs Improvement Dist., Water Management Bonds (Heron Bay Water Management Project), Series 2021-1, Assured Guaranty Municipal insured, 3.00% 5/1/2052 |  | 5600 | 4380 |
| City of Cape Coral, Utility Improvement Rev. Ref. Assessment Bonds (Various Areas), Series 2017, Assured Guaranty Municipal insured, 2.25% 9/1/2023 |  | 1430 | 1429 |
| City of Cape Coral, Utility Improvement Rev. Ref. Assessment Bonds (Various Areas), Series 2017, Assured Guaranty Municipal insured, 2.50% 9/1/2024 |  | 1230 | 1229 |
| City of Cape Coral, Utility Improvement Rev. Ref. Assessment Bonds (Various Areas), Series 2017, Assured Guaranty Municipal insured, 2.75% 9/1/2025 |  | 1070 | 1078 |
| City of Cape Coral, Utility Improvement Rev. Ref. Assessment Bonds (Various Areas), Series 2017, Assured Guaranty Municipal insured, 2.75% 9/1/2026 |  | 860 | 870 |
| City of Cape Coral, Utility Improvement Rev. Ref. Assessment Bonds (Various Areas), Series 2017, Assured Guaranty Municipal insured, 3.00% 9/1/2027 |  | 515 | 524 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at Land O' Lakes Project), Series 2020-A, 3.00% 12/15/2029<sup>1</sup> |  | 425 | 394 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at Land O' Lakes Project), Series 2020-A, 5.00% 12/15/2049<sup>1</sup> |  | 1255 | 1184 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2049<sup>1</sup> |  | 765 | 731 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2054<sup>1</sup> |  | 390 | 368 |
| Capital Trust Agcy., Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series 2021-A-1, 5.00% 7/1/2056<sup>1</sup> |  | 2825 | 2634 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2021-D, Assured Guaranty Municipal insured, 5.00% 7/1/2034 |  | 1315 | 1551 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2018, 5.00% 7/1/2043 |  | 3500 | 3735 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2019-B, 5.00% 7/1/2044 |  | 32000 | 34241 |
| Central Florida Expressway Auth., Rev. Bonds, Series 2018, 5.00% 7/1/2048 |  | 1565 | 1654 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2030 |  | 4000 | 4325 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2016-B, 4.00% 7/1/2039 |  | 5000 | 5038 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2016-B, 4.00% 7/1/2040 |  | 3000 | 3015 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2017, 4.00% 7/1/2041 |  | 2500 | 2504 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2042 |  | 1550 | 1638 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 2.00% 5/1/2026 |  | 975 | 963 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 2.125% 5/1/2027 |  | 995 | 983 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 2.25% 5/1/2028 |  | 1015 | 1002 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 2.375% 5/1/2029 |  | 1040 | 1028 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 2.75% 5/1/2033 |  | 2230 | 2216 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Ref. Bonds, Series 2019, Assured Guaranty Municipal insured, 3.00% 5/1/2038 |  | 2930 | 2755 |
| County of Collier, Educational Facs. Auth., Education Facs. Rev. Bonds (Hodges University, Inc. Project), Series 2013, 6.125% 11/1/2043 (preref. 11/1/2023) |  | 1000 | 1027 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2043 |  | 10000 | 10409 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2048 |  | 1500 | 1552 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2022, 4.00% 5/1/2052 |  | 16785 | 15372 |

---

American Funds Tax-Exempt Funds 119

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Collier, Heritage Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 2.625% 5/1/2023 | USD | 495 | $495 |
| County of Collier, Heritage Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 2.75% 5/1/2025 |  | 1145 | 1148 |
| County of Collier, Heritage Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2027 |  | 600 | 606 |
| County of Collier, Heritage Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2028 |  | 755 | 762 |
| County of Collier, Heritage Bay Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.125% 5/1/2030 |  | 240 | 242 |
| County of Collier, Water-Sewage Dist., Water and Sewer Rev. Bonds, Series 2021, 4.00% 7/1/2043 |  | 1000 | 1012 |
| Town of Davie, Educational Facs. Rev. and Rev. Ref. Bonds (Nova Southeastern University Project), Series 2018, 5.00% 4/1/2038 |  | 2500 | 2642 |
| City of Daytona Beach, Housing Auth., Multi Family Housing Rev. Bonds (The WM at the River Project), Series 2021-B, 1.25% 12/1/2025 (put 12/1/2024) |  | 6385 | 6125 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2035 |  | 1000 | 1026 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2040 |  | 1650 | 1667 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2050 |  | 4415 | 4358 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2056 |  | 1250 | 1214 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (River City Science Academy Projects), Series 2021-A, 4.00% 7/1/2045 |  | 700 | 616 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2013-A, 6.00% 2/1/2033 (preref. 8/1/2023) |  | 1975 | 2010 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 2/1/2041 |  | 1800 | 1796 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 2/1/2042 |  | 1750 | 1740 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 2/1/2046 |  | 3750 | 3652 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 4.00% 2/1/2052 |  | 7710 | 6351 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2052 |  | 7760 | 7449 |
| Board of Education, Public Education Capital Outlay Rev. Ref. Bonds, Series 2013-A, 5.00% 6/1/2023 |  | 1250 | 1261 |
| County of Escambia, Environmental Improvement Rev. Ref. Bonds (International Paper Co. Project), Series 2019-B, 2.00% 11/1/2033 (put 10/1/2024) |  | 775 | 751 |
| County of Escambia, Pollution Control Rev. Ref. Bonds (Gulf Power Co. Project), Series 2002, 2.60% 6/1/2023 |  | 2500 | 2499 |
| City of Fort Lauderdale, Water and Sewer Rev. Bonds, Series 2018, 4.00% 9/1/2041 |  | 7920 | 8050 |
| City of Gainesville, Utilities System Rev. Bonds, Series 2017-A, 5.00% 10/1/2032 |  | 2000 | 2231 |
| City of Gainesville, Utilities System Rev. Bonds, Series 2017-A, 5.00% 10/1/2033 |  | 2500 | 2782 |
| City of Gainesville, Utilities System Rev. Bonds, Series 2017-A, 5.00% 10/1/2036 |  | 500 | 546 |
| City of Gainesville, Utilities System Rev. Bonds, Series 2021-A-2, 5.00% 10/1/2051 |  | 27000 | 29014 |
| City of Gainesville, Utilities System Rev. Green Bonds, Series 2021-A-1, 5.00% 10/1/2046 |  | 25865 | 27942 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2010-A, 5.00% 10/1/2024 |  | 585 | 586 |
| Greater Orlando Aviation Auth., Airport Facs. Rev. Bonds, Series 2016-B, 5.00% 10/1/2046 |  | 21020 | 22029 |
| City of Hialeah, Bonterra Community Dev. Dist., Senior Special Assessment Bonds, Series 2017-A-1, 4.00% 5/1/2037 |  | 545 | 544 |
| City of Hialeah, Bonterra Community Dev. Dist., Senior Special Assessment Bonds, Series 2017-A-1, 4.125% 5/1/2047 |  | 910 | 891 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2026 |  | 655 | 696 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2030 |  | 1150 | 1215 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2031 |  | 1500 | 1583 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2033 |  | 1300 | 1369 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2035 |  | 4580 | 4792 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Ref. Bonds (Nova Southeastern University Project), Series 2016, 5.00% 4/1/2036 |  | 1380 | 1438 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2018-F, 5.00% 10/1/2043 |  | 12500 | 13466 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2018-F, 5.00% 10/1/2048 |  | 5170 | 5527 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Ref. Bonds, Series 2022-B, 5.00% 10/1/2028 |  | 375 | 430 |

---

120 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Ref. Bonds, Series 2022-B, 5.00% 10/1/2029 | USD | 500 | $583 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Ref. Bonds, Series 2015-B, 5.00% 10/1/2044 (preref. 10/1/2024) |  | 5000 | 5219 |
| County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Ref. Bonds, Series 2022-B, 4.00% 10/1/2052 |  | 23315 | 23030 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, 4.00% 8/1/2055 |  | 8350 | 7668 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2015-1, 4.00% 1/1/2047 |  | 1015 | 1018 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2016-2, 4.00% 7/1/2047 |  | 3190 | 3205 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2017-1, 4.00% 7/1/2048 |  | 8855 | 8912 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-1, 4.00% 7/1/2049 |  | 2060 | 2077 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2018-2, 4.25% 1/1/2050 |  | 5960 | 6050 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2019-1, 4.00% 7/1/2050 |  | 11130 | 11273 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-2, 3.00% 7/1/2051 |  | 4160 | 4105 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2020-1, 3.50% 7/1/2051 |  | 865 | 866 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-1, 3.00% 1/1/2052 |  | 3590 | 3539 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds, Series 2021-2, 3.00% 7/1/2052 |  | 4960 | 4882 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Special Program), Series 2014-B, 3.00% 7/1/2045 |  | 65 | 65 |
| Housing Fin. Corp., Homeowner Mortgage Rev. Bonds (Special Program), Series 2015-A, 3.50% 7/1/2046 |  | 50 | 50 |
| City of Jacksonville, Bartram Park Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2015-A-1, 4.50% 5/1/2035 |  | 930 | 942 |
| JEA, Electric System Rev. Bonds, Series 2017-B, 5.00% 10/1/2026 |  | 500 | 548 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2027 |  | 3555 | 3988 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2028 |  | 3040 | 3396 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2029 |  | 4000 | 4465 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 5.00% 10/1/2030 |  | 4650 | 5188 |
| JEA, Electric System Rev. Bonds, Series 2020-A, 5.00% 10/1/2030 |  | 5050 | 5844 |
| JEA, Electric System Rev. Bonds, Series 2020-A, 5.00% 10/1/2031 |  | 3985 | 4601 |
| JEA, Electric System Rev. Bonds, Series 2021-A, 5.00% 10/1/2031 |  | 4900 | 5879 |
| JEA, Electric System Rev. Bonds, Series 2020-A, 5.00% 10/1/2032 |  | 4380 | 5031 |
| JEA, Electric System Rev. Bonds, Series 2021-A, 5.00% 10/1/2032 |  | 11830 | 13997 |
| JEA, Electric System Rev. Bonds, Series 2017-B, 5.00% 10/1/2033 |  | 3530 | 3930 |
| JEA, Electric System Rev. Bonds, Series 2020-A, 5.00% 10/1/2033 |  | 1000 | 1149 |
| JEA, Electric System Rev. Bonds, Series 2021-A, 5.00% 10/1/2033 |  | 6395 | 7636 |
| JEA, Electric System Rev. Bonds, Series 2017-B, 3.375% 10/1/2034 |  | 650 | 650 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 4.00% 10/1/2035 |  | 4250 | 4403 |
| JEA, Electric System Rev. Bonds, Series 2020-A, 4.00% 10/1/2035 |  | 2925 | 3062 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 4.00% 10/1/2036 |  | 3785 | 3901 |
| JEA, Electric System Rev. Bonds, Series 2017-B-3, 4.00% 10/1/2037 |  | 2000 | 2043 |
| JEA, Water and Sewer System Rev. Bonds, Series 2017-A, 5.00% 10/1/2029 |  | 4350 | 4864 |
| JEA, Water and Sewer System Rev. Bonds, Series 2017-A, 5.00% 10/1/2033 |  | 5565 | 6188 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 5.00% 10/1/2035 |  | 1890 | 2163 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2036 |  | 1000 | 1042 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2037 |  | 1000 | 1031 |
| JEA, Water and Sewer System Rev. Bonds, Series 2021-A, 4.00% 10/1/2037 |  | 1220 | 1263 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2038 |  | 1665 | 1708 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2038 |  | 1000 | 1023 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2039 |  | 1000 | 1018 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2040 |  | 850 | 863 |
| JEA, Water and Sewer System Rev. Bonds, Series 2020-A, 4.00% 10/1/2040 |  | 500 | 506 |
| City of Lakeland, Energy System Rev. Ref. Bonds, Series 2016, 5.00% 10/1/2034 |  | 2085 | 2237 |
| City of Lakeland, Energy System Rev. Ref. Bonds, Series 2016, 5.00% 10/1/2036 |  | 1355 | 1448 |
| County of Lee, Airport Rev. Ref. Bonds, Series 2015, 5.00% 10/1/2033 |  | 3340 | 3549 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2039 |  | 1000 | 1013 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2044 |  | 5225 | 5248 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2049 |  | 4860 | 4845 |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2025 |  | 2000 | 2073 |

---

American Funds Tax-Exempt Funds 121

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2026 | USD | 1250 | $1295 |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2027 |  | 1250 | 1295 |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2033 |  | 1000 | 1030 |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2034 |  | 1000 | 1030 |
| County of Lee, Transportation Facs. Rev. Ref. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 10/1/2035 |  | 1000 | 1029 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 5.00% 4/1/2033 |  | 2350 | 2619 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 5.00% 4/1/2034 |  | 2000 | 2218 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 5.00% 4/1/2035 |  | 2000 | 2199 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 5.00% 4/1/2036 |  | 1750 | 1906 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 4.00% 4/1/2037 |  | 1500 | 1519 |
| Lee Memorial Health System, Hospital Rev. and Rev. Ref. Bonds, Series 2019-A-1, 5.00% 4/1/2037 |  | 3000 | 3249 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Centre North), Series 2015, 4.875% 5/1/2035 |  | 1375 | 1379 |
| County of Manatee, Heritage Harbour North Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2017-A-1, Assured Guaranty Municipal insured, 5.00% 5/1/2023 |  | 700 | 704 |
| County of Manatee, Heritage Harbour North Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2017-A-1, Assured Guaranty Municipal insured, 5.00% 5/1/2024 |  | 645 | 662 |
| County of Manatee, Heritage Harbour North Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2017-A-1, Assured Guaranty Municipal insured, 5.00% 5/1/2025 |  | 380 | 399 |
| County of Manatee, Heritage Harbour North Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2017-A-1, Assured Guaranty Municipal insured, 5.00% 5/1/2026 |  | 815 | 876 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 3.00% 5/1/2031 |  | 655 | 665 |
| County of Manatee, University Park Recreation Dist., Non-Ad Valorem Assessment Bonds, Series 2019, BAM insured, 3.00% 5/1/2034 |  | 1060 | 1062 |
| County of Martin, Health Facs. Auth., Hospital Rev. Bonds (Martin Memorial Medical Center), Series 2015, 5.00% 11/15/2045 (preref. 11/15/2024) |  | 5000 | 5231 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Parking Garage Project), Series 2014-A, 4.25% 5/1/2024 |  | 1505 | 1503 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Parking Garage Project), Series 2014-A, 5.00% 5/1/2029 |  | 985 | 986 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2020-A, 5.00% 10/1/2032 |  | 1000 | 1158 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2035 |  | 1850 | 1959 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2020-A, 4.00% 10/1/2040 |  | 5055 | 5076 |
| County of Miami-Dade, Aviation Rev. Ref. Bonds, Series 2020-A, 4.00% 10/1/2041 |  | 1500 | 1498 |
| County of Miami-Dade, Educational Facs. Auth., Rev. and Rev. Ref. Bonds (University of Miami Issue), Series 2015-A, 5.00% 4/1/2045 |  | 10000 | 10238 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Bonds, Series 2014-A, 5.00% 7/1/2029 |  | 1415 | 1454 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Bonds, Series 2014-A, 5.00% 7/1/2039 |  | 6485 | 6606 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Bonds, Series 2010-A, 5.00% 7/1/2040 |  | 3050 | 3054 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2023 |  | 2350 | 2371 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2024 |  | 1500 | 1513 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2025 |  | 4140 | 4196 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2026 |  | 4335 | 4421 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2027 |  | 3000 | 3083 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2028 |  | 3180 | 3393 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2029 |  | 7200 | 7675 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2030 |  | 2000 | 2054 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2030 |  | 2385 | 2541 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2014-B, 5.00% 7/1/2031 |  | 2560 | 2629 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2031 |  | 3300 | 3513 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2034 |  | 1000 | 1059 |
| County of Miami-Dade, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds (Nicklaus Children's Hospital Project), Series 2021-A, 4.00% 8/1/2046 |  | 1500 | 1471 |
| County of Miami-Dade, Health Facs. Auth., Hospital Rev. and Rev. Ref. Bonds (Nicklaus Children's Hospital Project), Series 2021-A, 4.00% 8/1/2051 |  | 4085 | 3961 |
| County of Miami-Dade, Vizcaya in Kendall Community Dev. Dist., Special Assessment Bonds, Series 2016, 3.75% 11/1/2031 |  | 300 | 296 |

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122 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Miami-Dade, Vizcaya in Kendall Community Dev. Dist., Special Assessment Bonds, Series 2016, 4.00% 11/1/2036 | USD | 560 | $541 |
| County of Miami-Dade, Vizcaya in Kendall Community Dev. Dist., Special Assessment Bonds, Series 2016, 4.125% 11/1/2046 |  | 1240 | 1147 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 3.00% 10/1/2036 |  | 1600 | 1517 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 4.00% 10/1/2042 |  | 2650 | 2666 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2019, 5.00% 10/1/2043 |  | 7360 | 8040 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 4.00% 10/1/2044 |  | 2000 | 1980 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 4.00% 10/1/2046 |  | 6105 | 6038 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2019, 5.00% 10/1/2046 |  | 20640 | 22429 |
| County of Miami-Dade, Water and Sewer System Rev. Bonds, Series 2021, 4.00% 10/1/2048 |  | 8000 | 7876 |
| County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2017-B, 5.00% 10/1/2031 |  | 1500 | 1589 |
| County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2017-B, 5.00% 10/1/2032 |  | 1000 | 1058 |
| County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2017-B, 4.00% 10/1/2038 |  | 15000 | 15322 |
| County of Miami-Dade, Water and Sewer System Rev. Ref. Bonds, Series 2019-B, 4.00% 10/1/2049 |  | 18880 | 18411 |
| City of Miami Beach, Parking Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2040 |  | 1190 | 1243 |
| City of Miami Beach, Parking Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2045 |  | 2500 | 2605 |
| City of Miami Beach, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds (City Center / Historic Convention Village), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 2/1/2032 |  | 1645 | 1678 |
| City of Miami Beach, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds (City Center / Historic Convention Village), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 2/1/2034 |  | 1800 | 1834 |
| City of Miami Beach, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds (City Center / Historic Convention Village), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 2/1/2040 |  | 12850 | 12951 |
| City of Miami Beach, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds (City Center / Historic Convention Village), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 2/1/2044 |  | 2000 | 2013 |
| City of Miami Beach, Water and Sewer Rev. and Rev. Ref. Bonds, Series 2017, 5.00% 9/1/2047 |  | 16550 | 17466 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Bonds, Series 2015-B, 5.00% 10/1/2027 |  | 675 | 719 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Bonds, Series 2015-B, 5.00% 10/1/2031 |  | 1715 | 1823 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2029 |  | 6000 | 6520 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2030 |  | 5000 | 5424 |
| Municipal Power Agcy., All-Requirements Power Supply Project Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2031 |  | 2000 | 2163 |
| North Broward Hospital Dist., Rev. Bonds (Broward Health), Series 2017-B, 5.00% 1/1/2035 |  | 2000 | 2112 |
| North Broward Hospital Dist., Rev. Bonds (Broward Health), Series 2017-B, 5.00% 1/1/2042 |  | 4250 | 4323 |
| North Broward Hospital Dist., Rev. Bonds (Broward Health), Series 2017-B, 5.00% 1/1/2048 |  | 3800 | 3845 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-A, 5.00% 10/1/2024 |  | 1750 | 1801 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-A, 5.00% 10/1/2035 |  | 1000 | 1028 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-A, 5.00% 10/1/2040 |  | 1750 | 1786 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-C, 5.00% 10/1/2040 |  | 1900 | 1933 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2014, 5.00% 8/1/2026 |  | 3980 | 4070 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2028 |  | 2250 | 2334 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2035 |  | 6400 | 6606 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2036 |  | 2250 | 2338 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2040 |  | 6250 | 6401 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2041 |  | 6820 | 7088 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2045 |  | 7950 | 8109 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2047 |  | 6870 | 7140 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2019-A, 5.00% 10/1/2024 |  | 4000 | 4145 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2019-A, 5.00% 10/1/2025 |  | 4000 | 4248 |

---

American Funds Tax-Exempt Funds 123

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2037 | USD | 1000 | $1117 |
| County of Orange, Health Facs. Auth., Hospital Rev. Bonds (Orlando Health Obligated Group), Series 2023-A, 5.00% 10/1/2038 |  | 1000 | 1115 |
| County of Orange, Health Facs. Auth., Hospital Rev. Ref. Bonds (Orlando Health Obligated Group), Series 2016-A, 5.00% 10/1/2034 |  | 5000 | 5338 |
| County of Orange, Health Facs. Auth., Hospital Rev. Ref. Bonds (Orlando Health Obligated Group), Series 2016-A, 5.00% 10/1/2036 |  | 3000 | 3173 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 4.00% 8/1/2036 |  | 5345 | 5040 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 4.00% 8/1/2042 |  | 26770 | 23714 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 4.00% 8/1/2047 |  | 33335 | 28404 |
| County of Orange, Housing Fin. Auth., Multi Family Housing Rev. Bonds (Stratford Point Apartments), Series 2021-B, 0.55% 1/1/2025 (put 7/1/2024) |  | 2890 | 2757 |
| Orlando Utilities Commission, Utility System Rev. Ref. Bonds, Series 2012-A, 5.00% 10/1/2024 |  | 1000 | 1043 |
| Orlando Utilities Commission, Utility System Rev. Ref. Bonds, Series 2021-B, 1.25% 10/1/2046 (put 10/1/2028) |  | 4000 | 3481 |
| Orlando-Orange County Expressway Auth., Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2035 (preref. 7/1/2023) |  | 2600 | 2628 |
| County of Palm Beach, Health Facs. Auth., Hospital Rev. Bonds (Baptist Health South Florida Obligated Group), Series 2019, 4.00% 8/15/2049 |  | 1000 | 958 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2032 |  | 4340 | 4460 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2018-A, 5.00% 11/15/2045 |  | 1125 | 1128 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Harbour's Edge Project), Series 2004-B, 4.00% 11/15/2034 |  | 1200 | 1045 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2015-C, 5.00% 5/15/2038 |  | 2380 | 2193 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 4.00% 11/15/2041 |  | 250 | 220 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 5.00% 11/15/2042 |  | 2695 | 2703 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 2.75% 5/1/2023 |  | 180 | 180 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 2.875% 5/1/2024 |  | 325 | 324 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.00% 5/1/2025 |  | 350 | 352 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.125% 5/1/2026 |  | 360 | 364 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.25% 5/1/2027 |  | 370 | 377 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.40% 5/1/2028 |  | 385 | 396 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.50% 5/1/2029 |  | 385 | 398 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 3.875% 5/1/2033 |  | 1715 | 1759 |
| County of Pasco, Meadow Pointe II Community Dev. Dist., Special Assessment Bonds, Series 2018, Assured Guaranty Municipal insured, 4.125% 5/1/2039 |  | 1605 | 1637 |
| County of Pasco, Meadow Pointe IV Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2014-A, 7.25% 5/1/2035<sup>3</sup> |  | 330 | 337 |
| County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2020, 4.00% 10/1/2040 |  | 1200 | 1207 |
| County of Polk, Utility System Rev. and Rev. Ref. Bonds, Series 2020, 4.00% 10/1/2043 |  | 3000 | 2960 |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 4.00% 9/1/2040 |  | 2000 | 1675 |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 5.00% 9/1/2050 |  | 5000 | 4742 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2039 |  | 1590 | 1574 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2044 |  | 2980 | 2881 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2051 |  | 2720 | 2106 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2030 |  | 1750 | 1829 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2031 |  | 2000 | 2092 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2032 |  | 1000 | 1044 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2033 |  | 2900 | 3015 |

---

124 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| City of St. Cloud, Gramercy Farms Community Dev. Dist., Special Assessment Bonds, Series 2007-B, 5.10% 5/1/2014<sup>4</sup> | USD | 10125 | $2 |
| City of St. Cloud, Gramercy Farms Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2011, 0% 5/1/2039<sup>5</sup> |  | 19690 | 2390 |
| City of St. Cloud, Stevens Plantation Community Dev. Dist., Special Assessment Rev. Bonds, Series 2003-B, 6.375% 5/1/2013<sup>4</sup> |  | 1727 | 1243 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-B-1, Assured Guaranty Municipal insured, 2.625% 5/1/2024 |  | 410 | 409 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 2.75% 5/1/2025 |  | 1085 | 1081 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-B-1, Assured Guaranty Municipal insured, 2.75% 5/1/2025 |  | 420 | 419 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.10% 5/1/2026 |  | 1030 | 996 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.125% 5/1/2026 |  | 2390 | 2315 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2026 |  | 840 | 852 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-B-1, Assured Guaranty Municipal insured, 3.00% 5/1/2026 |  | 430 | 436 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.25% 5/1/2027 |  | 2445 | 2362 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.25% 5/1/2027 |  | 1055 | 1018 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.125% 5/1/2027 |  | 1155 | 1178 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-B-1, Assured Guaranty Municipal insured, 3.125% 5/1/2027 |  | 445 | 454 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.30% 5/1/2028 |  | 1080 | 1038 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.40% 5/1/2028 |  | 2505 | 2423 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-A-1, Assured Guaranty Municipal insured, 3.25% 5/1/2028 |  | 1190 | 1222 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2018-B-1, Assured Guaranty Municipal insured, 3.25% 5/1/2028 |  | 460 | 473 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 2.40% 5/1/2029 |  | 1105 | 1061 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.50% 5/1/2029 |  | 2565 | 2496 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2033 |  | 5515 | 5473 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 3.00% 5/1/2033 |  | 2380 | 2360 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2037 |  | 6230 | 5743 |
| Counties of St. Johns and Duval, Tolomato Community Dev. Dist., Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 3.00% 5/1/2040 |  | 4030 | 3485 |
| County of St. Johns, Heritage Landing Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2015, 4.35% 5/1/2036 |  | 995 | 998 |
| County of St. Johns, Industrial Dev. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2020-A, 4.00% 8/1/2055 |  | 5185 | 4770 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2023 |  | 115 | 114 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2050 |  | 475 | 354 |
| County of St. Johns, Marshall Creek Community Dev. Dist., Special Assessment Bonds, Series 2002, 5.00% 5/1/2032<sup>4</sup> |  | 1620 | 1605 |
| County of St. Johns, Marshall Creek Community Dev. Dist., Special Assessment Bonds, Series 2016, 6.32% 5/1/2045 |  | 130 | 129 |
| County of St. Johns, Sweetwater Creek Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.00% 5/1/2024 |  | 355 | 351 |

---

<br> American Funds Tax-Exempt Funds 125

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| County of St. Johns, Sweetwater Creek Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.125% 5/1/2026 | USD | 370 | $357 |
| County of St. Johns, Sweetwater Creek Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.375% 5/1/2028 |  | 385 | 369 |
| County of St. Johns, Sweetwater Creek Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 2.875% 5/1/2033 |  | 975 | 915 |
| County of St. Johns, Sweetwater Creek Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2019-A-1, Assured Guaranty Municipal insured, 3.00% 5/1/2038 |  | 980 | 855 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Improvement Bonds (Sunnyside Village Project), Series 2018, 5.00% 5/15/2048 |  | 1000 | 972 |
| South Broward Hospital Dist., Hospital Rev. Ref. Bonds (South Broward Hospital Dist. Obligated Group), Series 2016, 3.00% 5/1/2035 |  | 675 | 637 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2042 |  | 3000 | 3105 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2047 |  | 11920 | 12267 |
| Southeast Overtown/Park West Community Redev. Agcy., Tax Increment Rev. Bonds, Series 2014-A-1, 5.00% 3/1/2030<sup>1</sup> |  | 1250 | 1275 |
| County of Sumter, Industrial Dev. Auth., Hospital Rev. Bonds (Central Florida Health Alliance Projects), Series 2014-B, 5.00% 7/1/2027 |  | 1000 | 1031 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2023 |  | 335 | 336 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2024 |  | 345 | 349 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2025 |  | 275 | 283 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2026 |  | 310 | 323 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2027 |  | 300 | 316 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2028 |  | 305 | 324 |
| County of Sumter, Village Community Dev. Dist. No. 6, Rev. Ref. Bonds, Series 2017, 4.00% 5/1/2029 |  | 310 | 330 |
| City of Tallahassee, Energy System Rev. Ref. Bonds, Series 2017, 5.00% 10/1/2034 |  | 2000 | 2118 |
| City of Tallahassee, Energy System Rev. Ref. Bonds, Series 2017, 5.00% 10/1/2035 |  | 2000 | 2121 |
| City of Tallahassee, Energy System Rev. Ref. Bonds, Series 2017, 5.00% 10/1/2037 |  | 4525 | 4795 |
| City of Tallahassee, Health Facs. Rev. Ref. Bonds (Tallahassee Memorial HealthCare, Inc. Project), Series 2016-A, 5.00% 12/1/2036 |  | 2000 | 2051 |
| City of Tallahassee, Health Facs. Rev. Ref. Bonds (Tallahassee Memorial HealthCare, Inc. Project), Series 2015-A, 5.00% 12/1/2040 |  | 1050 | 1067 |
| City of Tampa, Capital Improvement Cigarette Tax Allocation Bonds (H. Lee Moffitt Cancer Center Project), Capital Appreciation Bonds, Series 2020-A, 0% 9/1/2036 |  | 830 | 492 |
| City of Tampa, Capital Improvement Cigarette Tax Allocation Bonds (H. Lee Moffitt Cancer Center Project), Capital Appreciation Bonds, Series 2020-A, 0% 9/1/2038 |  | 1000 | 537 |
| City of Tampa, Capital Improvement Cigarette Tax Allocation Bonds (H. Lee Moffitt Cancer Center Project), Capital Appreciation Bonds, Series 2020-A, 0% 9/1/2041 |  | 1000 | 446 |
| City of Tampa, Capital Improvement Cigarette Tax Allocation Bonds (H. Lee Moffitt Cancer Center Project), Capital Appreciation Bonds, Series 2020-A, 0% 9/1/2045 |  | 1850 | 641 |
| City of Tampa, Capital Improvement Cigarette Tax Allocation Bonds (H. Lee Moffitt Cancer Center Project), Capital Appreciation Bonds, Series 2020-A, 0% 9/1/2053 |  | 5050 | 1146 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2033 |  | 1000 | 1043 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2035 |  | 2000 | 2078 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2040 |  | 4555 | 4689 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2045 |  | 1500 | 1539 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2020-A, 4.00% 4/1/2050 |  | 16235 | 15513 |
| Tampa-Hillsborough County Expressway Auth., Rev. Bonds, Series 2017, 5.00% 7/1/2047 |  | 4100 | 4283 |
| Tampa-Hillsborough County Expressway Auth., Rev. Ref. Bonds, Series 2017-B, 4.00% 7/1/2042 |  | 41550 | 41744 |
| Dept. of Transportation, Turnpike Rev. Ref. Bonds, Series 2017-A, 5.00% 7/1/2023 |  | 15935 | 16108 |
| County of Volusia, Educational Facs. Auth., Educational Facs. Rev. Bonds (Stetson University, Inc. Project), Series 2015, 5.00% 6/1/2045 |  | 2500 | 2551 |
| County of Volusia, Educational Facs. Auth., Educational Facs. Rev. Ref. Bonds (Embry-Riddle Aeronautical University, Inc. Project), Series 2015-B, 5.00% 10/15/2045 |  | 4000 | 4222 |
| City of Wildwood, Village Community Dev. Dist. No. 12, Special Assessment Rev. Bonds, Series 2016, 3.875% 5/1/2047 |  | 2775 | 2255 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2019, 3.70% 5/1/2050 |  | 9335 | 7318 |

---

126 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Florida (continued)** |  |  |  |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 3.00% 5/1/2024 | USD | 630 | $621 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 3.75% 5/1/2031 |  | 3400 | 3164 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 4.125% 5/1/2037 |  | 930 | 869 |
|  |  |  | **1174047** |
| **Georgia 2.14%** |  |  |  |
| County of Appling, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project), Series 2013-A, 1.50% 1/1/2038 (put 2/3/2025) |  | 1500 | 1432 |
| City of Atlanta, Airport General Rev. Bonds, Series 2019-A, 5.00% 7/1/2044 |  | 1160 | 1258 |
| City of Atlanta, Airport General Rev. Bonds, Series 2022-A, 5.00% 7/1/2047 |  | 3000 | 3334 |
| City of Atlanta, Airport Passenger Fac. Charge and General Rev. Bonds, Series 2019-C, 5.00% 7/1/2038 |  | 10000 | 11106 |
| City of Atlanta, Airport Passenger Fac. Charge and General Rev. Bonds, Series 2019-C, 5.00% 7/1/2039 |  | 29030 | 32041 |
| City of Atlanta, Dev. Auth., Rev. Bonds (Georgia State University Research Foundation - Science Park, LLC Project), Series 2016, 5.00% 7/1/2026 (escrowed to maturity) |  | 500 | 547 |
| City of Atlanta, Dev. Auth., Student Housing Facs. Rev. Ref. Bonds (Piedmont/Ellis, LLC University Commons Project), Series 2013, 5.00% 9/1/2027 (preref. 9/1/2023) |  | 3500 | 3551 |
| City of Atlanta, Tax Allocation Rev. Ref. Bonds (Atlantic Station Project), Series 2017, 5.00% 12/1/2024 |  | 1650 | 1720 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 2.375% 7/1/2026<sup>1</sup> |  | 950 | 906 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 2.875% 7/1/2031<sup>1</sup> |  | 600 | 537 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.625% 7/1/2042<sup>1</sup> |  | 1210 | 1040 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.875% 7/1/2051<sup>1</sup> |  | 2470 | 2064 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Intrada Westside), Series 2021-B, 0.41% 3/1/2024 (put 9/1/2023) |  | 2000 | 1959 |
| City of Atlanta, Urban Residential Fin. Auth., Multi Family Housing Rev. Bonds (Sylvan Hills Senior Apartments Project), Series 2020, 0.41% 12/1/2025 (put 12/1/2023) |  | 6500 | 6313 |
| City of Atlanta, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2018-B, 4.00% 11/1/2034 |  | 1960 | 2061 |
| City of Atlanta, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2018-B, 4.00% 11/1/2035 |  | 1910 | 1990 |
| City of Atlanta, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2018-B, 4.00% 11/1/2036 |  | 1000 | 1033 |
| City of Atlanta, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2018-B, 4.00% 11/1/2038 |  | 5250 | 5390 |
| City of Atlanta, Water and Wastewater Rev. Bonds, Series 2001-A, National insured, 5.50% 11/1/2027 |  | 5450 | 5939 |
| City of Atlanta, Water and Wastewater Rev. Ref. Bonds, Series 2015, 5.00% 11/1/2032 |  | 3925 | 4151 |
| City of Atlanta, Water and Wastewater Rev. Ref. Bonds, Series 2019, 4.00% 11/1/2033 |  | 1000 | 1079 |
| City of Atlanta, Water and Wastewater Rev. Ref. Bonds, Series 2019, 4.00% 11/1/2034 |  | 2000 | 2143 |
| City of Atlanta, Water and Wastewater Rev. Ref. Bonds, Series 2019, 4.00% 11/1/2035 |  | 1750 | 1852 |
| City of Atlanta, Water and Wastewater Rev. Ref. Bonds, Series 2015, 5.00% 11/1/2040 |  | 17280 | 17980 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2024 |  | 280 | 289 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2025 |  | 215 | 227 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2026 |  | 450 | 486 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2027 |  | 155 | 171 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2028 |  | 190 | 214 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2029 |  | 165 | 189 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2034 |  | 1000 | 1153 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 5.00% 6/15/2035 |  | 1000 | 1141 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 4.00% 6/15/2036 |  | 1000 | 1025 |
| County of Baldwin and City of Milledgeville, Dev. Auth., Rev. Bonds (Georgia College & State University Projects), Series 2021, 4.00% 6/15/2037 |  | 1500 | 1526 |

---

<br> American Funds Tax-Exempt Funds 127

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| Counties of Bleckley and Dodge, Joint Dev. Auth., Rev. Ref. Bonds (USG Real Estate Foundation VII, LLC Project), Series 2018, 5.00% 7/1/2034 | USD | 1410 | $1555 |
| Counties of Bleckley and Dodge, Joint Dev. Auth., Rev. Ref. Bonds (USG Real Estate Foundation VII, LLC Project), Series 2018, 5.00% 7/1/2035 |  | 1580 | 1730 |
| Counties of Bleckley and Dodge, Joint Dev. Auth., Rev. Ref. Bonds (USG Real Estate Foundation VII, LLC Project), Series 2018, 5.00% 7/1/2036 |  | 1230 | 1335 |
| Counties of Bleckley and Dodge, Joint Dev. Auth., Rev. Ref. Bonds (USG Real Estate Foundation VII, LLC Project), Series 2018, 5.00% 7/1/2037 |  | 1075 | 1162 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 1995-5, 2.20% 10/1/2032 |  | 1065 | 907 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Vogtle Project), Series 2013, 2.925% 11/1/2053 (put 3/12/2024) |  | 12420 | 12323 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Transmission Corp. Vogtle Project), Series 2012, 2.75% 1/1/2052<sup>3</sup> |  | 20250 | 14210 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2013-A, 1.50% 1/1/2040 (put 2/3/2025) |  | 9515 | 9082 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2017-C, 4.125% 11/1/2045 |  | 5000 | 4688 |
| County of Cobb, Dev. Auth., Parking and Dining Hall Lease Rev. Ref. Bonds (Kennesaw State University Real Estate Foundations Projects), Series 2017, 5.00% 7/15/2030 |  | 500 | 556 |
| County of Cobb, Dev. Auth., Parking and Dining Hall Lease Rev. Ref. Bonds (Kennesaw State University Real Estate Foundations Projects), Series 2017, 5.00% 7/15/2033 |  | 1370 | 1511 |
| County of Cobb, Kennestone Hospital Auth., Rev. Anticipation Certs. (Wellstar Health System, Inc. Project), Series 2022-A, 4.00% 4/1/2052 |  | 9280 | 8922 |
| City of Dahlonega, Downtown Dev. Auth., Rev. Ref. Bonds (North Georgia Mac, LLC Project), Series 2017, 5.00% 7/1/2036 |  | 1500 | 1606 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 5.00% 3/1/2030 |  | 1000 | 1130 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 5.00% 3/1/2031 |  | 1000 | 1126 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 5.00% 3/1/2032 |  | 1000 | 1120 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 4.00% 3/1/2036 |  | 1000 | 1020 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 4.00% 3/1/2038 |  | 1000 | 1004 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 4.00% 3/1/2039 |  | 1000 | 1004 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 4.00% 3/1/2040 |  | 1000 | 1003 |
| City of Dalton, Combined Utilities Rev. Bonds, Series 2020, 4.00% 3/1/2041 |  | 1000 | 1003 |
| County of Fulton, Dev. Auth., Multi Family Housing Rev. Bonds (Jonesboro Road Senior Village), Series 2022-B, 3.00% 10/1/2025 (put 10/1/2024) |  | 3025 | 3028 |
| G.O. Bonds, Series 2021-A, 4.00% 7/1/2035 |  | 1250 | 1368 |
| County of Gwinnett, Dev. Auth., Certs. of Part. (Gwinnett County Public Schools Project), Series 2006, National insured, 5.25% 1/1/2024 |  | 2500 | 2564 |
| County of Gwinnett, Dev. Auth., Certs. of Part. (Gwinnett County Public Schools Project), Series 2006, National insured, 5.25% 1/1/2025 |  | 2500 | 2636 |
| County of Gwinnett, Dev. Auth., Rev. Ref. Bonds (Georgia Gwinnett College Student Housing Project), Series 2017-A, 5.00% 7/1/2031 |  | 1000 | 1100 |
| County of Gwinnett, Dev. Auth., Rev. Ref. Bonds (Georgia Gwinnett College Student Housing Project), Series 2017-A, 5.00% 7/1/2034 |  | 1500 | 1628 |
| County of Gwinnett, Dev. Auth., Rev. Ref. Bonds (Georgia Gwinnett College Student Housing Project), Series 2017-A, 5.00% 7/1/2036 |  | 5405 | 5786 |
| Higher Education Facs. Auth., Rev. Ref. Bonds (USG Real Estate Foundation I, LLC Project), Series 2015, 5.00% 6/15/2030 |  | 2250 | 2363 |
| Higher Education Facs. Auth., Rev. Ref. Bonds (USG Real Estate Foundation III, LLC Project), Series 2020, 5.00% 6/15/2028 |  | 1800 | 2027 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2015-A-1, 3.50% 6/1/2045 |  | 285 | 285 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2016-A-1, 3.50% 12/1/2046 |  | 580 | 579 |
| Housing and Fin. Auth., Single Family Mortgage Bonds, Series 2020-A, 4.00% 6/1/2050 |  | 2375 | 2413 |
| County of Houston, Hospital Auth., Rev. Bonds (Houston Hospital, Inc.), Series 2016-B, 5.00% 10/1/2031 (preref. 4/1/2024)<sup>3</sup> |  | 1120 | 1144 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2043 |  | 1140 | 1160 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-B, (3-month USD-LIBOR x 0.67 + 0.75%) 3.677% 4/1/2048 (put 9/1/2023)<sup>2</sup> |  | 4500 | 4500 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 4/1/2048 (put 9/1/2023) |  | 16000 | 16065 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-D, (3-month USD-LIBOR x 0.67 + 0.83%) 3.757% 8/1/2048 (put 12/1/2023)<sup>2</sup> |  | 2000 | 2003 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-C, 4.00% 8/1/2048 (put 12/1/2023) |  | 8000 | 8046 |

---

<br> 128 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2049 | USD | 3250 | $3350 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-B, 4.00% 8/1/2049 (put 12/2/2024) |  | 22000 | 22149 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2021-C, 4.00% 5/1/2052 (put 12/1/2028) |  | 4305 | 4316 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2022-A, 4.00% 9/1/2052 (put 12/1/2029) |  | 10000 | 10023 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-A, 5.00% 6/1/2053 (put 6/1/2030) |  | 14770 | 15686 |
| County of Monroe, Dev. Auth., Pollution Control Rev. Bonds (Georgia Power Co. Plant Scherer Project), Series 2009-1, 1.00% 7/1/2049 (put 8/1/2026) |  | 2000 | 1795 |
| County of Monroe, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project), Series 2013-A, 1.50% 1/1/2039 (put 2/3/2025) |  | 5215 | 4977 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2034 |  | 1500 | 1731 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2035 |  | 1250 | 1423 |
| Municipal Electric Auth., General Resolution Projects Bonds, Series 2021-A, 5.00% 1/1/2036 |  | 875 | 977 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2019-A, 5.00% 1/1/2034 |  | 8250 | 8940 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 1/1/2040 |  | 720 | 725 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 1/1/2051 |  | 2345 | 2194 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2056 |  | 8750 | 8997 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2019-A, 5.00% 1/1/2059 |  | 8050 | 8214 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2015-A, 5.00% 7/1/2060 |  | 6585 | 6649 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2015-A, 5.50% 7/1/2060 |  | 11250 | 11486 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2062 |  | 4500 | 4659 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 4.00% 1/1/2040 |  | 800 | 805 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2056 |  | 5000 | 5126 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2056 |  | 5805 | 5986 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2062 |  | 2000 | 2071 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2063 |  | 22695 | 23158 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 4.00% 1/1/2046 |  | 1320 | 1215 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2063 |  | 800 | 808 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2032 |  | 1450 | 1617 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2033 |  | 1200 | 1332 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2034 |  | 13635 | 15731 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2035 |  | 1855 | 2034 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2037 |  | 2240 | 2404 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2038 |  | 2000 | 2190 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2039 |  | 1215 | 1288 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2044 |  | 8460 | 8802 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 5.00% 1/1/2046 |  | 6710 | 7060 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 4.00% 1/1/2049 |  | 4000 | 3812 |
| Municipal Electric Auth., Project One Bonds, Series 2021-A, 4.00% 1/1/2051 |  | 7000 | 6613 |
| County of Paulding, Hospital Auth., Rev. Anticipation Certs. (Wellstar Health System, Inc.), Series 2022-A, 4.00% 4/1/2041 |  | 1000 | 998 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2026 (preref. 4/1/2024) |  | 4500 | 4631 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2029 (preref. 4/1/2024) |  | 1250 | 1286 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2033 (preref. 4/1/2024) |  | 1000 | 1029 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2021, 4.00% 4/1/2044 |  | 4500 | 4424 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2044 (preref. 4/1/2024) |  | 2655 | 2733 |
| South Regional Joint Dev. Auth., Rev. Ref. Bonds (Valdosta State University Parking and Student Service Center Project), Series 2016-A, 5.00% 8/1/2038 |  | 2500 | 2646 |

---

<br> American Funds Tax-Exempt Funds 129

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Georgia (continued)** |  |  |  |
| County of Spalding, Griffin-Spalding County Hospital Auth., Rev. Anticipation Certs. (Wellstar Health System, Inc. Project), Series 2017-A, 3.75% 4/1/2047 | USD | 1335 | $1217 |
| City of Valdosta, Housing Auth., Multi Family Housing Rev. Bonds (TISHCO Rural Rental Housing Portfolio Project), Series 2022, 1.25% 2/1/2025 (put 2/1/2024) |  | 1155 | 1130 |
| City of Villa Rica, Downtown Dev. Auth., Multi Family Housing Rev. Bonds (Arbours at Villa Rica Project), Series 2022, 1.25% 8/1/2025 (put 8/1/2024) |  | 8900 | 8621 |
|  |  |  | **483597** |
| **Guam 0.15%** |  |  |  |
| Business Privilege Tax Bonds, Series 2015-D, 5.00% 11/15/2039 |  | 5110 | 5188 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2028 |  | 665 | 717 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 5.00% 11/15/2028 |  | 3000 | 3116 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2029 |  | 1000 | 1091 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 5.00% 11/15/2031 |  | 1000 | 1036 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2036 |  | 5000 | 4955 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2042 |  | 4610 | 4344 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2031 |  | 1000 | 1048 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2033 |  | 1400 | 1462 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2046 |  | 1000 | 1002 |
| Limited Obligation Rev. Ref. Bonds (Section 30), Series 2016-A, 5.00% 12/1/2027 |  | 2615 | 2752 |
| Port Auth., Port Rev. Bonds, Series 2018-A, 5.00% 7/1/2048 |  | 3245 | 3359 |
| Power Auth., Rev. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2024 |  | 745 | 767 |
| Power Auth., Rev. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2028 |  | 400 | 411 |
| Power Auth., Rev. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2039 |  | 500 | 516 |
| Power Auth., Rev. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 10/1/2044 |  | 750 | 773 |
| Power Auth., Rev. Ref. Bonds, Series 2017-A, 5.00% 10/1/2035 |  | 1885 | 1980 |
|  |  |  | **34517** |
| **Hawaii 0.54%** |  |  |  |
| Airports System Rev. Bonds, Series 2018-D, 5.00% 7/1/2030 |  | 4960 | 5868 |
| Airports System Rev. Bonds, Series 2020-C, 5.00% 7/1/2050 |  | 10295 | 11143 |
| Airports System Rev. Ref. Bonds, Series 2020-D, 4.00% 7/1/2036 |  | 3770 | 3875 |
| Dept. of Budget and Fin., Special Purpose Rev. Bonds (Pacific Health Obligated Group), Series 2013-A, 5.50% 7/1/2043 |  | 17000 | 17125 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2019, 3.20% 7/1/2039 |  | 10000 | 8620 |
| G.O. Bonds, Series 2018-FT, 5.00% 1/1/2031 |  | 7510 | 8483 |
| Harbor System Rev. Bonds, Series 2020-C, 4.00% 7/1/2037 |  | 600 | 623 |
| Harbor System Rev. Bonds, Series 2020-C, 4.00% 7/1/2038 |  | 875 | 904 |
| Harbor System Rev. Bonds, Series 2020-C, 4.00% 7/1/2040 |  | 425 | 431 |
| City and County of Honolulu, G.O. Rev. Ref. Bonds, Series 2022-A, 5.00% 11/1/2027 |  | 445 | 503 |
| City and County of Honolulu, G.O. Rev. Ref. Bonds, Series 2022-A, 5.00% 11/1/2028 |  | 1250 | 1441 |
| City and County of Honolulu, G.O. Rev. Ref. Bonds, Series 2022-A, 5.00% 11/1/2029 |  | 2750 | 3231 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2015-B, 5.00% 7/1/2026 |  | 1000 | 1065 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 5.00% 7/1/2029 |  | 1000 | 1090 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 5.00% 7/1/2030 |  | 2725 | 2966 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 5.00% 7/1/2032 |  | 1000 | 1085 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 5.00% 7/1/2033 |  | 1650 | 1784 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-A, 5.00% 7/1/2034 |  | 1140 | 1231 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-B, 5.00% 7/1/2035 |  | 3750 | 4031 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2018-A, 5.00% 7/1/2035 |  | 4935 | 5482 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2019-A, 4.00% 7/1/2036 |  | 2100 | 2195 |

---

<br> 130 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Hawaii (continued)** |  |  |  |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-B, 5.00% 7/1/2036 | USD | 2500 | $2677 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2018-A, 5.00% 7/1/2036 |  | 2500 | 2760 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2016-B, 5.00% 7/1/2037 |  | 2745 | 2932 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2018-A, 5.00% 7/1/2037 |  | 4270 | 4699 |
| City and County of Honolulu, Wastewater System Rev. Bonds (First Bond Resolution), Series 2018-A, 5.00% 7/1/2047 |  | 8750 | 9392 |
| City and County of Honolulu, Wastewater System Rev. Ref. Bonds (First Bond Resolution), Series 2019-B, 4.00% 7/1/2035 |  | 3500 | 3707 |
| City and County of Honolulu, Wastewater System Rev. Ref. Bonds (First Bond Resolution), Series 2019-B, 4.00% 7/1/2037 |  | 6190 | 6426 |
| City and County of Honolulu, Wastewater System Rev. Ref. Bonds (First Bond Resolution), Series 2019-B, 4.00% 7/1/2038 |  | 7000 | 7231 |
|  |  |  | **123000** |
| **Idaho 0.24%** |  |  |  |
| Health Facs. Auth., Hospital Rev. Bonds (Trinity Health Credit Group), Series 2017-A, 5.00% 12/1/2042 |  | 1115 | 1159 |
| Health Facs. Auth., Hospital Rev. Bonds (Trinity Health Credit Group), Series 2017-A, 5.00% 12/1/2047 |  | 5750 | 5904 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.375% 7/1/2034 |  | 1750 | 1775 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.75% 7/1/2044 |  | 5750 | 5804 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2017-A, 5.00% 7/1/2047 |  | 13680 | 14124 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 5.00% 3/1/2032 |  | 315 | 372 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 4.00% 3/1/2034 |  | 400 | 417 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 4.00% 3/1/2041 |  | 850 | 835 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 4.00% 3/1/2046 |  | 6300 | 6062 |
| Health Facs. Auth., Rev. Bonds (St. Luke's Health System Project), Series 2021-A, 4.00% 3/1/2051 |  | 4500 | 4265 |
| Housing and Fin. Assn., Grant and Rev. Anticipation Bonds (Federal Highway Trust Fund), Series 2021-A, 4.00% 7/15/2038 |  | 2065 | 2111 |
| Housing and Fin. Assn., Grant and Rev. Anticipation Bonds (Federal Highway Trust Fund), Series 2021-A, 4.00% 7/15/2039 |  | 2000 | 2036 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2037 |  | 835 | 976 |
| Housing and Fin. Assn., Sales Tax Rev. Bonds (Transportation Expansion and Congestion Mitigation Fund), Series 2022-A, 5.00% 8/15/2047 |  | 5000 | 5575 |
| Housing and Fin. Assn., Single Family Mortgage Bonds, Series 2019-A, 4.00% 1/1/2050 |  | 3030 | 3074 |
|  |  |  | **54489** |
| **Illinois 11.11%** |  |  |  |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2013, 5.00% 6/15/2023 |  | 2050 | 2063 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2002, FGIC-National insured, 6.00% 6/15/2023 |  | 1000 | 1010 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2013, 5.00% 6/15/2026 |  | 5000 | 5031 |
| Build Illinois Bonds, Sales Tax Rev. Bonds, Series 2018-B, 5.00% 6/15/2033 |  | 3500 | 3680 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-D, 5.00% 6/15/2025 |  | 2135 | 2212 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-D, 5.00% 6/15/2026 |  | 1010 | 1062 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-C, 4.00% 6/15/2027 |  | 5500 | 5605 |
| Build Illinois Bonds, Sales Tax Rev. Ref. Bonds, Series 2016-D, 5.00% 6/15/2029 |  | 3500 | 3669 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2032 |  | 4775 | 5073 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2035 |  | 2060 | 2141 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2036 |  | 1510 | 1561 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2038 |  | 945 | 972 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2039 |  | 5500 | 5634 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2015-C, 5.25% 12/1/2039 |  | 3000 | 3015 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2040 |  | 1000 | 1020 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2041 |  | 925 | 939 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2018-D, 5.00% 12/1/2046 |  | 10000 | 9989 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2016-B, 6.50% 12/1/2046 |  | 1350 | 1438 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2017-A, 7.00% 12/1/2046<sup>1</sup> |  | 28810 | 31613 |

---

<br> American Funds Tax-Exempt Funds 131

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2023 | USD | 1000 | $1011 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 6000 | 6063 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2024 |  | 500 | 513 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2025 |  | 1000 | 1032 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, 5.00% 12/1/2025 |  | 3445 | 3556 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2025 |  | 1625 | 1702 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2026 |  | 2570 | 2674 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 2905 | 3023 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2027 |  | 3500 | 3669 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 1500 | 1573 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 12/1/2028 |  | 9000 | 9806 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 7000 | 7574 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2030 |  | 4000 | 4172 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2005-A, AMBAC insured, 5.50% 12/1/2030 |  | 3255 | 3610 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2034 |  | 11840 | 12217 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-G, 5.00% 12/1/2034 |  | 10000 | 10319 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2012-B, 4.00% 12/1/2035 |  | 7500 | 7151 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% 12/1/2035 |  | 2240 | 2136 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2035 |  | 4660 | 4799 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% 12/1/2041 |  | 31955 | 29044 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2042 |  | 3375 | 3048 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 7.00% 12/1/2042<sup>1</sup> |  | 13115 | 14465 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-G, 5.00% 12/1/2044 |  | 1000 | 1007 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 12/1/2046 |  | 27590 | 27694 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2047 |  | 16215 | 14265 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Capital Appreciation Bonds, Series 2019-A, 0% 12/1/2025 |  | 4890 | 4438 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2028 |  | 6640 | 5353 |
| City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 1/1/2036 |  | 3500 | 3647 |
| City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 1/1/2037 |  | 4215 | 4381 |
| City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 1/1/2041 |  | 12000 | 12381 |
| City of Chicago, Chicago Midway Airport, Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 1/1/2046 |  | 5445 | 5587 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-B, 5.00% 1/1/2026 |  | 1010 | 1034 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-B, 5.00% 1/1/2034 |  | 5000 | 5082 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2013-B, 5.25% 1/1/2034 |  | 3000 | 3005 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-B, 5.00% 1/1/2035 |  | 7230 | 7340 |
| City of Chicago, G.O. Bonds, Series 2021-A, 5.00% 1/1/2033 |  | 15000 | 16128 |

---

<br> 132 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2038<sup>1</sup> | USD | 17112 | $16093 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2038<sup>1</sup> |  | 4728 | 4446 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 4.00% 1/1/2035 |  | 1450 | 1412 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2039 |  | 395 | 431 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2041 |  | 1000 | 1066 |
| City of Chicago, G.O. Bonds (City Colleges of Chicago Capital Improvement Project), Capital Appreciation Bonds, Series 1999, National insured, 0% 1/1/2031 |  | 8595 | 6409 |
| City of Chicago, G.O. Bonds (Neighborhoods Alive 21 Program), Series 2002-B, 5.00% 1/1/2024 |  | 1285 | 1301 |
| City of Chicago, G.O. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2027 |  | 3000 | 2610 |
| City of Chicago, G.O. Project and Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2031 |  | 210 | 155 |
| City of Chicago, G.O. Rev. Ref. Bonds, Series 2015-C, 5.00% 1/1/2025 |  | 4250 | 4353 |
| City of Chicago, G.O. Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2025 |  | 3000 | 3073 |
| City of Chicago, G.O. Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2026 |  | 5000 | 5179 |
| City of Chicago, Housing Auth. Bonds, Series 2018-A, 5.00% 1/1/2032 |  | 2000 | 2200 |
| City of Chicago, Housing Auth. Bonds, Series 2018-A, 5.00% 1/1/2036 |  | 1250 | 1355 |
| City of Chicago, Housing Auth. Bonds, Series 2018-A, 5.00% 1/1/2038 |  | 6150 | 6601 |
| City of Chicago, O'Hare International Airport, Customer Fac. Charge Rev. Bonds, Series 2013, 5.25% 1/1/2024 |  | 1000 | 1002 |
| City of Chicago, O'Hare International Airport, Customer Fac. Charge Rev. Bonds, Series 2013, 5.50% 1/1/2027 |  | 2000 | 2005 |
| City of Chicago, O'Hare International Airport, Customer Fac. Charge Rev. Bonds, Series 2013, 5.75% 1/1/2038 |  | 4000 | 4061 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2017-D, 5.25% 1/1/2032 |  | 1000 | 1101 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2017-D, 5.00% 1/1/2052 |  | 5000 | 5188 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Bonds, Series 2018-B, 5.00% 1/1/2053 |  | 33025 | 34714 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2015-B, 5.00% 1/1/2031 |  | 5260 | 5494 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2015-B, 5.00% 1/1/2032 |  | 3000 | 3132 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2016-C, 5.00% 1/1/2032 |  | 500 | 533 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2016-C, 5.00% 1/1/2033 |  | 1250 | 1331 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2016-C, 5.00% 1/1/2034 |  | 1000 | 1063 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2016-C, 5.00% 1/1/2035 |  | 1750 | 1855 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2022-D, 4.00% 1/1/2044 |  | 3975 | 3947 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2015-D, 5.00% 1/1/2046 |  | 1500 | 1529 |
| City of Chicago, Public Building Commission, Building Rev. Ref. Bonds (Chicago Transit Auth.), Series 2006, AMBAC insured, 5.25% 3/1/2023 |  | 2000 | 2003 |
| City of Chicago, Public Building Commission, Building Rev. Ref. Bonds (Chicago Transit Auth.), Series 2006, AMBAC insured, 5.25% 3/1/2025 |  | 1000 | 1049 |
| City of Chicago, Public Building Commission, Building Rev. Ref. Bonds (Chicago Transit Auth.), Series 2006, AMBAC insured, 5.25% 3/1/2026 |  | 4175 | 4485 |
| City of Chicago, Public Building Commission, Building Rev. Ref. Bonds (Chicago Transit Auth.), Series 2006, AMBAC insured, 5.25% 3/1/2027 |  | 1000 | 1098 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2012-A, 5.00% 12/1/2042 |  | 7890 | 7889 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2016-A, 7.00% 12/1/2044 |  | 24995 | 26659 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2023 |  | 2710 | 2636 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2025 |  | 1030 | 939 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 2019-A, 0% 12/1/2026 |  | 3700 | 3230 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2029 |  | 5305 | 4095 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2031 |  | 5745 | 4045 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2031 |  | 4000 | 2817 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 1.99% 12/1/2023<sup>1</sup> |  | 560 | 550 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 2.27% 12/1/2024<sup>1</sup> |  | 624 | 603 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 2.53% 12/1/2025<sup>1</sup> |  | 670 | 637 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 2.69% 12/1/2026<sup>1</sup> |  | 618 | 580 |

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<br> American Funds Tax-Exempt Funds 133

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 2.87% 12/1/2027<sup>1</sup> | USD | 510 | $473 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 3.04% 12/1/2028<sup>1</sup> |  | 550 | 503 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 3.20% 12/1/2029<sup>1</sup> |  | 658 | 597 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 3.29% 12/1/2030<sup>1</sup> |  | 695 | 626 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 3.38% 12/1/2031<sup>1</sup> |  | 736 | 659 |
| City of Chicago, Special Assessment Improvement Rev. Ref. Bonds (Lakeshore East Project), Series 2022, 3.45% 12/1/2032<sup>1</sup> |  | 611 | 544 |
| City of Chicago, Transit Auth., Capital Grant Receipts Rev. Ref. Bonds (Federal Transit Administration Section 5307 Urbanized Area Formula Funds), Series 2021, 5.00% 6/1/2028 |  | 2500 | 2762 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 12/1/2046 |  | 13000 | 13411 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2022-A, 4.00% 12/1/2049 |  | 7645 | 7160 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.25% 12/1/2049 |  | 20925 | 21321 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 12/1/2051 |  | 30750 | 31618 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 12/1/2051 |  | 11500 | 11878 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 12/1/2055 |  | 2000 | 1847 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2022-A, 5.00% 12/1/2057 |  | 31855 | 33647 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2012, Assured Guaranty Municipal insured, 5.00% 1/1/2037 |  | 400 | 400 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2012, 5.00% 1/1/2042 |  | 9730 | 9733 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2025 |  | 4500 | 4679 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2026 |  | 2460 | 2560 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2027 |  | 1000 | 1041 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2030 |  | 1000 | 1029 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2001, Assured Guaranty Municipal insured, 5.50% 1/1/2030 |  | 785 | 887 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2031 |  | 2500 | 2560 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2031 |  | 5000 | 5260 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2032 |  | 3000 | 3071 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2032 |  | 7600 | 7990 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2033 |  | 2000 | 2049 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2034 |  | 9000 | 9419 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2035 |  | 1250 | 1278 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2038 |  | 3915 | 4020 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2008-C, 5.00% 1/1/2039 |  | 1000 | 1011 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2047 |  | 21165 | 21482 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, National insured, 0% 1/1/2025 |  | 210 | 198 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, National insured, 0% 1/1/2026 |  | 20 | 18 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, National insured, 0% 1/1/2027 |  | 1760 | 1556 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, National insured, 0% 1/1/2028 |  | 4245 | 3622 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2023 |  | 2150 | 2185 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2025 |  | 8275 | 8725 |
| City of Chicago, Water Rev. Bonds, Series 2016-A-1, 5.00% 11/1/2025 |  | 1000 | 1054 |
| City of Chicago, Water Rev. Bonds, Series 2016-A-1, Assured Guaranty Municipal insured, 5.00% 11/1/2025 |  | 620 | 665 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2026 |  | 2125 | 2272 |
| City of Chicago, Water Rev. Bonds, Series 2012, 5.00% 11/1/2026 |  | 965 | 972 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2028 |  | 2275 | 2408 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2029 |  | 5000 | 5282 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2030 |  | 3785 | 3997 |
| City of Chicago, Water Rev. Bonds, Series 2014, 5.00% 11/1/2030 |  | 4750 | 4891 |
| City of Chicago, Water Rev. Bonds, Series 2016-A-1, 5.00% 11/1/2030 |  | 3100 | 3274 |

---

<br> 134 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Water Rev. Bonds, Series 2014, 5.00% 11/1/2031 | USD | 5135 | $5271 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, 5.00% 11/1/2023 |  | 650 | 661 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 11/1/2028 |  | 4000 | 4300 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2029 |  | 1110 | 1144 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2031 |  | 2000 | 2182 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2035 |  | 2295 | 2450 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017, 5.00% 11/1/2036 |  | 1200 | 1245 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2036 |  | 3500 | 3690 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2037 |  | 2895 | 3042 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2039 |  | 7500 | 7605 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2012, 5.00% 11/1/2042 |  | 21875 | 21882 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2044 |  | 3000 | 3029 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 6/1/2023 |  | 1950 | 1966 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.25% 6/1/2025 |  | 8600 | 9165 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2017-A, 5.00% 7/1/2025 |  | 13500 | 14320 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.50% 6/1/2026 |  | 4300 | 4746 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2000-A, National insured, 6.50% 7/1/2026 |  | 15705 | 17202 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.50% 6/1/2027 |  | 11700 | 13317 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.75% 6/1/2029 |  | 15000 | 17514 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2001-A, National insured, 6.00% 7/1/2031 |  | 8785 | 10717 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2003-B, FGIC-National insured, 5.75% 6/1/2033 |  | 9630 | 11623 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2003-A, FGIC-National insured, 6.00% 7/1/2033 |  | 17820 | 22610 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.75% 6/1/2034 |  | 19960 | 24405 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Rev. Ref. Bonds, Series 1999, Assured Guaranty Municipal insured, 6.00% 6/1/2025 |  | 5650 | 5949 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 7/1/2026 |  | 10000 | 10863 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Rev. Ref. Bonds, Series 2017-A, 5.00% 7/1/2027 |  | 5000 | 5552 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds, Series 2013, 5.25% 12/1/2043 |  | 5150 | 5170 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds, Series 2017, BAM insured, 5.00% 12/1/2047 |  | 9635 | 10125 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 11/15/2027 |  | 6830 | 7405 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 11/15/2030 |  | 1350 | 1463 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 11/15/2031 |  | 4750 | 5141 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2021-A, 5.00% 11/15/2031 |  | 1500 | 1736 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2021-A, 5.00% 11/15/2032 |  | 1600 | 1846 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2021-A, 5.00% 11/15/2033 |  | 2000 | 2295 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2018, 5.00% 11/15/2034 |  | 1000 | 1054 |
| County of Cook, Sales Tax Rev. Bonds, Series 2018, 5.00% 11/15/2032 |  | 7645 | 8333 |
| County of Cook, Sales Tax Rev. Bonds, Series 2018, 5.00% 11/15/2033 |  | 5000 | 5437 |
| County of Cook, Sales Tax Rev. Bonds, Series 2022-A, 5.25% 11/15/2045 |  | 5000 | 5511 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2032 |  | 580 | 650 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2037 |  | 780 | 838 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2038 |  | 760 | 813 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2044 |  | 3250 | 3417 |

---

<br> American Funds Tax-Exempt Funds 135

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2049 | USD | 6455 | $6747 |
| Fin. Auth., Academic Fac. Lease Rev. Bonds (Provident Group - UIUC Properties, LLC - University of Illinois at Urbana-Champaign Project), Series 2019-A, 5.00% 10/1/2051 |  | 1000 | 1043 |
| Fin. Auth., Charter School Rev. Ref. and Improvement Rev. Bonds (Chicago International Charter School Project), Series 2017, 5.00% 12/1/2037 |  | 1000 | 1028 |
| Fin. Auth., Health Facs. Rev. Bonds (UnityPoint Health), Series 2016-D, 4.00% 2/15/2046 |  | 2000 | 1927 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2015-B, 5.00% 5/1/2027 (preref. 5/1/2025) |  | 765 | 809 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2015-B, 5.00% 5/1/2027 |  | 225 | 238 |
| Fin. Auth., Rev. Bonds (Advocate Health Care Network), Series 2008-A-3, 5.00% 11/1/2030 |  | 3325 | 3553 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 5.00% 3/1/2030 |  | 2500 | 2680 |
| Fin. Auth., Rev. Bonds (Art Institute of Chicago), Series 2016, 4.00% 3/1/2038 |  | 3850 | 3882 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 1/1/2026 |  | 4875 | 5255 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 4.00% 7/1/2026 |  | 5300 | 5566 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 1/1/2027 |  | 5000 | 5404 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 7/1/2028 |  | 6410 | 6906 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 1/1/2029 |  | 7065 | 7607 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 1/1/2029 |  | 4000 | 4415 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 7/1/2029 |  | 2700 | 2904 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2029 |  | 2000 | 2207 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 1/1/2030 |  | 6200 | 6660 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 1/1/2030 |  | 7420 | 8178 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2030 |  | 3500 | 3857 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2016, 5.00% 7/1/2031 |  | 3580 | 3832 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2031 |  | 6080 | 6678 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2032 |  | 5005 | 5484 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2033 |  | 5000 | 5465 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2034 |  | 5000 | 5438 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2035 |  | 8180 | 8886 |
| Fin. Auth., Rev. Bonds (Clean Water Initiative Revolving Fund), Series 2017, 5.00% 7/1/2036 |  | 700 | 756 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2030 |  | 1000 | 1077 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2032 |  | 1000 | 1072 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2033 |  | 1150 | 1229 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2034 |  | 1310 | 1395 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2036 |  | 1000 | 1054 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2041 |  | 1000 | 1041 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2029 (preref. 1/1/2027) |  | 3000 | 3298 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2030 (preref. 1/1/2027) |  | 5100 | 5607 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2033 (preref. 1/1/2027) |  | 9000 | 9860 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2034 (preref. 1/1/2027) |  | 3000 | 3298 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2035 (preref. 1/1/2027) |  | 5000 | 5497 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2036 (preref. 1/1/2027) |  | 3750 | 4108 |
| Fin. Auth., Rev. Bonds (Franciscan Communities, Inc.), Series 2013-A, 5.125% 5/15/2043 |  | 1025 | 987 |
| Fin. Auth., Rev. Bonds (Friendship Village Schaumburg), Series 2017, 5.125% 2/15/2045<sup>4</sup> |  | 2225 | 1001 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2015-A, 5.00% 5/15/2035 |  | 1350 | 1279 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2026 |  | 3000 | 3208 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2027 |  | 2990 | 3183 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 4.00% 12/1/2035 |  | 2000 | 2016 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 4.00% 12/1/2036 |  | 2420 | 2431 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2040 |  | 5000 | 5120 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2046 |  | 9410 | 9525 |
| Fin. Auth., Rev. Bonds (Northshore - Edward-Elmhurst Health Credit Group), Series 2022-A, 5.00% 8/15/2047 |  | 33000 | 35824 |
| Fin. Auth., Rev. Bonds (Northshore - Edward-Elmhurst Health Credit Group), Series 2022-A, 5.00% 8/15/2051 |  | 9865 | 10654 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2036 |  | 3000 | 3048 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2037 |  | 3000 | 3038 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2039 |  | 6000 | 6036 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 4.00% 8/15/2040 |  | 3000 | 3008 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 3.25% 8/15/2049 |  | 13040 | 10578 |
| Fin. Auth., Rev. Bonds (Northwest Community Hospital), Series 2016-A, 5.00% 7/1/2026 (escrowed to maturity) |  | 3080 | 3358 |
| Fin. Auth., Rev. Bonds (Northwest Community Hospital), Series 2016-A, 5.00% 7/1/2032 (preref. 7/1/2026) |  | 3290 | 3587 |
| Fin. Auth., Rev. Bonds (Northwest Community Hospital), Series 2016-A, 5.00% 7/1/2033 (preref. 7/1/2026) |  | 1425 | 1554 |
| Fin. Auth., Rev. Bonds (Northwest Community Hospital), Series 2016-A, 5.00% 7/1/2034 (preref. 7/1/2026) |  | 3240 | 3533 |
| Fin. Auth., Rev. Bonds (Northwest Community Hospital), Series 2016-A, 4.00% 7/1/2037 (preref. 7/1/2026) |  | 8020 | 8483 |

---

<br> 136 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Fin. Auth., Rev. Bonds (Northwestern Memorial Healthcare), Series 2017-A, 5.00% 7/15/2042 | USD | 7000 | $7384 |
| Fin. Auth., Rev. Bonds (Northwestern Memorial Healthcare), Series 2017-A, 4.00% 7/15/2047 |  | 3000 | 2988 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2016, 5.00% 5/15/2028 |  | 2450 | 2610 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2016, 3.25% 5/15/2039 |  | 5330 | 4682 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2020-A, 3.00% 5/15/2050 |  | 5000 | 3643 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 5/1/2025 |  | 2345 | 2417 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2027 |  | 4015 | 4215 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2028 |  | 3250 | 3408 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2030 |  | 905 | 912 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2030 |  | 1400 | 1466 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2031 |  | 1750 | 1834 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-B, (SIFMA Municipal Swap Index + 0.70%) 2.36% 5/1/2042 (put 5/1/2026)<sup>2</sup> |  | 400 | 389 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021, 4.00% 5/1/2045 |  | 300 | 273 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2050 |  | 4420 | 3899 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2030 |  | 7615 | 8329 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2031 |  | 3000 | 3277 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2033 |  | 2500 | 2706 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2034 |  | 1895 | 2039 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 |  | 8000 | 8012 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027) |  | 730 | 775 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027) |  | 5 | 5 |
| Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 5.00% 7/1/2023 |  | 100 | 101 |
| Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 6.00% 7/1/2043 |  | 2700 | 2732 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2030 |  | 5000 | 5238 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2034 |  | 2500 | 2585 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-B, 5.00% 11/15/2034 |  | 2595 | 2684 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2038 |  | 5325 | 5429 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 4.00% 8/15/2038 |  | 4320 | 4377 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2016-A, 5.00% 2/15/2045 |  | 18725 | 19277 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 3.00% 8/15/2048 |  | 27500 | 21630 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 4.00% 8/15/2048 |  | 5840 | 5732 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-B, 5.00% 8/15/2053 (put 8/15/2031) |  | 3395 | 3871 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2019, 5.00% 7/1/2036 |  | 7000 | 7876 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 5.00% 7/1/2036 |  | 2000 | 2304 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 4.00% 7/1/2037 |  | 12000 | 12607 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 4.00% 7/1/2038 |  | 2500 | 2611 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 4.00% 7/1/2039 |  | 2500 | 2598 |
| Fin. Auth., Rev. Green Bonds (Clean Water Initiative Revolving Fund), Series 2020, 4.00% 7/1/2040 |  | 6500 | 6706 |
| Fin. Auth., Rev. Ref. Bonds (Advocate Health Care Network), Series 2014, 5.00% 8/1/2033 (preref. 8/1/2024) |  | 8500 | 8803 |
| Fin. Auth., Rev. Ref. Bonds (Anne & Robert H. Lurie Children's Hospital), Series 2017, 5.00% 8/15/2034 |  | 1000 | 1072 |
| Fin. Auth., Rev. Ref. Bonds (Anne & Robert H. Lurie Children's Hospital), Series 2017, 5.00% 8/15/2035 |  | 5400 | 5741 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 5.00% 10/1/2024 |  | 700 | 710 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 5.00% 10/1/2026 |  | 585 | 602 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2027 |  | 1095 | 1135 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2038 |  | 1000 | 1011 |
| Fin. Auth., Rev. Ref. Bonds (DePaul University), Series 2013, 5.00% 10/1/2024 |  | 600 | 609 |
| Fin. Auth., Rev. Ref. Bonds (DePaul University), Series 2016-A, 5.00% 10/1/2030 |  | 1000 | 1077 |
| Fin. Auth., Rev. Ref. Bonds (DePaul University), Series 2016-A, 5.00% 10/1/2035 |  | 1000 | 1058 |
| Fin. Auth., Rev. Ref. Bonds (DePaul University), Series 2016-A, 4.00% 10/1/2040 |  | 7500 | 7503 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 5.00% 7/15/2034 |  | 3000 | 3429 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 4.00% 7/15/2038 |  | 3605 | 3710 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 4.00% 7/15/2039 |  | 4505 | 4623 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 3.00% 7/15/2040 |  | 8915 | 7865 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2031 |  | 2500 | 2622 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2032 |  | 3500 | 3668 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2034 |  | 2600 | 2712 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2045 |  | 5440 | 5489 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 5.00% 8/15/2035 |  | 6745 | 6946 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 4.125% 8/15/2037 |  | 1000 | 979 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 5.00% 8/15/2044 |  | 3635 | 3651 |
| Fin. Auth., Rev. Ref. Bonds (Southern Illinois Healthcare Enterprises, Inc.), Series 2017-C, 5.00% 3/1/2032 |  | 1600 | 1711 |

---

<br> American Funds Tax-Exempt Funds 137

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Fin. Auth., Student Housing and Academic Fac. Rev. Bonds (CHF-Chicago, LLC - University of Illinois at Chicago Project), Series 2017-A, 5.00% 2/15/2047 | USD | 1200 | $1202 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2035 |  | 2235 | 2071 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2047 |  | 1265 | 1069 |
| Fin. Auth., Water Facs. Rev. Ref. Bonds (American Water Capital Corp. Project), Series 2019, 2.45% 10/1/2039 (put 10/1/2029) |  | 7000 | 6493 |
| G.O. Bonds, Series 2021-A, 5.00% 3/1/2023 |  | 2250 | 2254 |
| G.O. Bonds, Series 2021-B, 5.00% 3/1/2023 |  | 1170 | 1172 |
| G.O. Bonds, Series 2014, 5.00% 5/1/2023 |  | 1485 | 1493 |
| G.O. Bonds, Series 2020, 5.375% 5/1/2023 |  | 2000 | 2013 |
| G.O. Bonds, Series 2017-D, 5.00% 11/1/2023 |  | 3470 | 3527 |
| G.O. Bonds, Series 2019-A, 5.00% 11/1/2023 |  | 1000 | 1016 |
| G.O. Bonds, Series 2017-A, 5.00% 12/1/2023 |  | 5875 | 5982 |
| G.O. Bonds, Series 2013, 5.50% 7/1/2024 |  | 2530 | 2560 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2024 |  | 9070 | 9395 |
| G.O. Bonds, Series 2019-A, 5.00% 11/1/2024 |  | 4500 | 4661 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2026 |  | 3290 | 3480 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2026 |  | 11880 | 12673 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2028 |  | 4220 | 4528 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2029<sup>1</sup> |  | 5062 | 5114 |
| G.O. Bonds, Series 2017-C, 5.00% 11/1/2029 |  | 17940 | 19168 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2030<sup>1</sup> |  | 8367 | 8384 |
| G.O. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 7700 | 8030 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2030 |  | 5000 | 5481 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2033<sup>1</sup> |  | 2913 | 2903 |
| G.O. Bonds, Series 2016, 5.00% 11/1/2033 |  | 2000 | 2089 |
| G.O. Bonds, Series 2017-A, 5.00% 12/1/2036 |  | 11500 | 11984 |
| G.O. Bonds, Series 2016, 5.00% 11/1/2037 |  | 7500 | 7732 |
| G.O. Bonds, Series 2016, 5.00% 11/1/2038 |  | 6500 | 6685 |
| G.O. Bonds, Series 2014, 5.00% 2/1/2039 |  | 6275 | 6324 |
| G.O. Bonds, Series 2014, 5.00% 5/1/2039 |  | 5100 | 5148 |
| G.O. Bonds, Series 2019-A, 5.00% 1/1/2040 |  | 1000 | 1014 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2040 |  | 500 | 475 |
| G.O. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 1/1/2041 |  | 1000 | 1018 |
| G.O. Bonds, Series 2021-B, 3.00% 12/1/2041 |  | 3000 | 2401 |
| G.O. Bonds, Series 2022-A, 5.50% 3/1/2042 |  | 3705 | 4034 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2044 |  | 1000 | 916 |
| G.O. Rev. Ref. Bonds, Series 2012, 5.00% 8/1/2023 |  | 1200 | 1213 |
| G.O. Rev. Ref. Bonds, Series 2012, 4.00% 8/1/2025 |  | 1360 | 1361 |
| G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2027 |  | 4000 | 4280 |
| G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2028 |  | 3000 | 3196 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2016-C, 3.50% 8/1/2046 |  | 3545 | 3542 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2018-A-1, 4.00% 8/1/2048 |  | 14430 | 14605 |
| Housing Dev. Auth., Housing Rev. Bonds, Series 2013-A, 2.45% 6/1/2043 |  | 611 | 519 |
| Housing Dev. Auth., Housing Rev. Green Bonds, Series 2021-B, 3.00% 4/1/2051 |  | 12495 | 12304 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 2.66% 5/15/2050 (put 5/15/2025)<sup>2</sup> |  | 27800 | 27799 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Ogden Commons), Series 2023, 4.00% 7/1/2043 |  | 3000 | 3047 |
| Housing Dev. Auth., Rev. Bonds, Series 2016-A, 4.00% 4/1/2046 |  | 1935 | 1946 |
| Housing Dev. Auth., Rev. Bonds, Series 2017-B, 4.00% 10/1/2048 |  | 4505 | 4549 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-A, 4.25% 10/1/2049 |  | 4320 | 4396 |
| Housing Dev. Auth., Rev. Bonds, Series 2019-D, 3.75% 4/1/2050 |  | 13445 | 13559 |
| Housing Dev. Auth., Rev. Bonds, Series 2020-A, 3.75% 4/1/2050 |  | 19735 | 19912 |
| Housing Dev. Auth., Rev. Bonds, Series 2020-A, 3.00% 10/1/2050 |  | 11465 | 11308 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-A, 3.00% 4/1/2051 |  | 2370 | 2336 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051 |  | 19910 | 19598 |
| Housing Dev. Auth., Rev. Bonds, Series 2022-G, 6.25% 10/1/2052 |  | 12000 | 13526 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 4/1/2026 |  | 2000 | 2154 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 4/1/2028 |  | 735 | 822 |

---

<br> 138 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2029 | USD | 1840 | $2083 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2030 |  | 930 | 1052 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 4/1/2030 |  | 1390 | 1572 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2032 |  | 1000 | 1131 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2034 |  | 1000 | 1126 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2036 |  | 250 | 277 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2038 |  | 425 | 467 |
| Village of Manhattan, Special Service Area No. 2007-5 (Lakeside Towns at Liberty Center Project), Special Tax Bonds, Series 2007, 6.125% 3/1/2040<sup>4</sup> |  | 2300 | 575 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2030 |  | 21475 | 16485 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2030 (escrowed to maturity) |  | 1210 | 995 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2037 |  | 5150 | 2749 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2025 |  | 6650 | 6066 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 1994, National insured, 0% 6/15/2028 |  | 830 | 692 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, Assured Guaranty Municipal insured, 0% 12/15/2029 |  | 10000 | 7913 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2031 |  | 2810 | 2062 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2033 |  | 3625 | 2414 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2034 |  | 15000 | 9513 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2034 |  | 3000 | 1850 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2035 |  | 8435 | 4890 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2020-B, 5.00% 6/15/2042 |  | 4125 | 4259 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2015-B, 5.00% 12/15/2045 |  | 1000 | 1010 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 3.00% 6/15/2025 |  | 560 | 558 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-B, 5.00% 12/15/2027 |  | 550 | 579 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2015-B, 5.00% 12/15/2035 |  | 7015 | 7176 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2015-B, 5.00% 12/15/2040 |  | 5870 | 5961 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 12/15/2042 |  | 3500 | 3282 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 5.00% 12/15/2045 |  | 1400 | 1432 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 12/15/2047 |  | 2000 | 1813 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 4.00% 6/15/2050 |  | 9630 | 8610 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 6/15/2050 |  | 4000 | 3670 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 5.00% 6/15/2050 |  | 5000 | 5081 |

---

<br> American Funds Tax-Exempt Funds 139

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 6/15/2052 | USD | 3050 | $2701 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-A, 5.00% 6/15/2057 |  | 5670 | 5704 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1996-A, National insured, 0% 6/15/2025 |  | 2825 | 2618 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2026 |  | 6035 | 5431 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2035 |  | 760 | 427 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 6/15/2036 |  | 1350 | 737 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2036 |  | 2375 | 1260 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2037 |  | 585 | 294 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 6/15/2038 |  | 2540 | 1244 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2038 |  | 2500 | 1197 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2044 |  | 30000 | 11375 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-B, 0% 12/15/2054 |  | 34865 | 6625 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-B, BAM insured, 0% 12/15/2054 |  | 22000 | 4838 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, Assured Guaranty Municipal insured, 0% 12/15/2056 |  | 6500 | 1291 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, 0% 12/15/2056 |  | 6000 | 1020 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-B, Assured Guaranty Municipal insured, 0% 12/15/2056 |  | 30000 | 5959 |
| Municipal Electric Agcy., Power Supply System Rev. Ref. Bonds, Series 2015-A, 5.00% 2/1/2027 |  | 3000 | 3176 |
| Municipal Electric Agcy., Power Supply System Rev. Ref. Bonds, Series 2015-A, 5.00% 2/1/2029 |  | 7500 | 7919 |
| Municipal Electric Agcy., Power Supply System Rev. Ref. Bonds, Series 2015-A, 5.00% 2/1/2031 |  | 10450 | 11002 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2023 |  | 240 | 241 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2024 |  | 500 | 514 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2025 |  | 400 | 417 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2026 |  | 650 | 691 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2028 |  | 625 | 684 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2029 |  | 410 | 453 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2030 |  | 450 | 500 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2031 |  | 500 | 554 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2032 |  | 1225 | 1354 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2033 |  | 1270 | 1400 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 5.00% 4/1/2034 |  | 1560 | 1713 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2035 |  | 1000 | 1019 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2037 |  | 1140 | 1144 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2039 |  | 495 | 491 |

---

<br> 140 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2041 | USD | 460 | $445 |
| Railsplitter Tobacco Settlement Auth., Tobacco Settlement Rev. Bonds, Series 2017, 5.00% 6/1/2026 |  | 5000 | 5396 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2018-A, 5.00% 1/1/2033 |  | 14880 | 16221 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2018-A, 5.00% 1/1/2034 |  | 8370 | 9098 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2018-A, 5.00% 1/1/2035 |  | 2675 | 2887 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2018-A, 5.00% 1/1/2036 |  | 10105 | 10831 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, BAM insured, 5.00% 1/1/2036 |  | 1295 | 1412 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, BAM insured, 5.00% 1/1/2037 |  | 1280 | 1400 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, BAM insured, 4.00% 1/1/2039 |  | 4630 | 4620 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2018-A, 5.00% 1/1/2040 |  | 17750 | 18780 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2030 |  | 1750 | 1921 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2034 |  | 4000 | 4622 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2034 |  | 1041 | 1165 |
| Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-C, 5.00% 1/1/2039 |  | 3000 | 3242 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2025 |  | 150 | 138 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Ref. Bonds, Series 2015-B, BAM insured, 5.00% 4/1/2025 |  | 2525 | 2643 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Hospital Sisters Services, Inc. Obligated Group), Series 2017-A, 5.00% 2/15/2027 |  | 4655 | 5041 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Hospital Sisters Services, Inc. Obligated Group), Series 2017-A, 5.00% 2/15/2028 |  | 4820 | 5290 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.25% 11/1/2036 (preref. 11/1/2023) |  | 385 | 398 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.625% 11/1/2048 (preref. 11/1/2023) |  | 6300 | 6525 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.00% 6/15/2027 |  | 1025 | 1050 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, BAM insured, 5.00% 6/15/2029 |  | 5880 | 6384 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, 5.00% 6/15/2030 |  | 1000 | 1038 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.25% 6/15/2030 |  | 4755 | 4885 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.25% 6/15/2032 |  | 3000 | 3078 |
| City of Springfield, Electric Rev. Ref. Bonds, Series 2015, Assured Guaranty Municipal insured, 5.00% 3/1/2031 |  | 2220 | 2305 |
| City of Springfield, Electric Rev. Ref. Bonds, Series 2015, Assured Guaranty Municipal insured, 5.00% 3/1/2032 |  | 3000 | 3107 |
| City of Springfield, Electric Rev. Ref. Bonds, Series 2015, Assured Guaranty Municipal insured, 5.00% 3/1/2040 |  | 4000 | 4159 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2027 |  | 2570 | 2587 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2028 |  | 1000 | 1007 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2029 |  | 5860 | 5899 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2030 |  | 7100 | 7117 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2033 |  | 2200 | 2205 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2033 |  | 5000 | 5396 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-B, 5.00% 1/1/2034 |  | 1000 | 1066 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2035 |  | 3055 | 3276 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-B, 5.00% 1/1/2036 |  | 2000 | 2115 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2036 |  | 2000 | 2134 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-B, 5.00% 1/1/2037 |  | 1500 | 1582 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2037 |  | 1900 | 2020 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2013-A, 5.00% 1/1/2038 |  | 35430 | 35496 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2014-B, 5.00% 1/1/2038 |  | 2500 | 2541 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2017-A, 5.00% 1/1/2038 |  | 4000 | 4331 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 4.00% 1/1/2039 |  | 5745 | 5862 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2014-B, 5.00% 1/1/2039 |  | 3000 | 3047 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-A, 5.00% 1/1/2040 |  | 7500 | 7810 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-B, 5.00% 1/1/2040 |  | 6500 | 6822 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2020-A, 5.00% 1/1/2040 |  | 1000 | 1106 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2016-B, 5.00% 1/1/2041 |  | 23730 | 25039 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2021-A, 5.00% 1/1/2041 |  | 15000 | 16664 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 4.00% 1/1/2044 |  | 2000 | 1984 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 5.00% 1/1/2044 |  | 5500 | 5947 |

---

<br> American Funds Tax-Exempt Funds 141

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2020-A, 5.00% 1/1/2045 | USD | 17215 | $18752 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2013-A, 5.00% 4/1/2023 |  | 3000 | 3011 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2005-A, National insured, 5.50% 4/1/2023 |  | 1800 | 1808 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2001-A, AMBAC insured, 5.50% 4/1/2024 |  | 310 | 320 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2013-A, 5.00% 4/1/2025 |  | 10000 | 10035 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 5.00% 4/1/2026 |  | 1960 | 2108 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2015-A, 5.00% 4/1/2027 |  | 1185 | 1241 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2015-A, 5.00% 4/1/2030 |  | 3120 | 3247 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 4.00% 4/1/2032 |  | 2930 | 2994 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 4.00% 4/1/2033 |  | 4535 | 4616 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 4.00% 4/1/2034 |  | 5000 | 5037 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 4.00% 4/1/2036 |  | 8000 | 8012 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2023 |  | 1000 | 995 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2024 |  | 2195 | 2124 |
| Board of Trustees of the University of Illinois, Rev. Ref. Certs. of Part., Series 2014-C, 5.00% 3/15/2024 |  | 1925 | 1972 |
| Board of Trustees of the University of Illinois, Rev. Ref. Certs. of Part., Series 2008-A, Assured Guaranty Municipal insured, 5.00% 10/1/2025 |  | 2315 | 2334 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 2.50% 3/1/2023 |  | 898 | 898 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 2.75% 3/1/2024 |  | 948 | 947 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 2.875% 3/1/2025 |  | 503 | 504 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.00% 3/1/2026 |  | 863 | 873 |
| County of Will, Community Unit School Dist. No. 365-U (Valley View), G.O. School Bonds, Capital Appreciation Bonds, Series 2005, National insured, 0% 11/1/2024 |  | 31295 | 29700 |
| County of Will, Community Unit School Dist. No. 365-U (Valley View), G.O. School Bonds, Capital Appreciation Bonds, Series 2005, National insured, 0% 11/1/2024 (escrowed to maturity) |  | 13100 | 12531 |
| County of Will, Community Unit School Dist. No. 365-U (Valley View), G.O. School Bonds, Capital Appreciation Bonds, Series 2005, National insured, 0% 11/1/2024 (escrowed to maturity) |  | 540 | 517 |
| County of Will, Community Unit School Dist. No. 365-U (Valley View), G.O. School Bonds, Capital Appreciation Bonds, Series 2005, National insured, 0% 11/1/2025 |  | 8820 | 8127 |
| County of Will, Community Unit School Dist. No. 365-U (Valley View), G.O. School Bonds, Capital Appreciation Bonds, Series 2005, National insured, 0% 11/1/2025 (escrowed to maturity) |  | 295 | 275 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 2.75% 3/1/2024 |  | 1162 | 1161 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.00% 3/1/2025 |  | 727 | 732 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.125% 3/1/2026 |  | 1292 | 1312 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.25% 3/1/2027 |  | 1361 | 1387 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 3/1/2036 |  | 997 | 1020 |
|  |  |  | **2514758** |

---

<br> 142 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Indiana 1.02%** |  |  |  |
| Fin. Auth., Health System Rev. Bonds (Franciscan Alliance, Inc.), Series 2017-C, 4.00% 11/1/2037 | USD | 5000 | $5084 |
| Fin. Auth., Health System Rev. Bonds (Franciscan Alliance, Inc.), Series 2016-B, 5.00% 11/1/2041 |  | 12300 | 12636 |
| Fin. Auth., Health System Rev. Bonds (Franciscan Alliance, Inc.), Series 2016-A, 5.00% 11/1/2051 |  | 16400 | 16730 |
| Fin. Auth., Health System Rev. Bonds (Indiana University Health), Series 2019-B, 2.25% 12/1/2058 (put 7/1/2025) |  | 1500 | 1476 |
| Fin. Auth., Hospital Rev. Bonds (Community Health Network Project), Series 2012-A, 5.00% 5/1/2042 (preref. 5/1/2023) |  | 2255 | 2269 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 5.00% 11/1/2034 |  | 725 | 789 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 5.00% 11/1/2035 |  | 1335 | 1436 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2036 |  | 1365 | 1384 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2038 |  | 2045 | 2045 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2039 |  | 1820 | 1794 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2043 |  | 8005 | 7621 |
| Fin. Auth., Hospital Rev. Bonds (Marion General Hospital), Series 2020-A, 4.00% 7/1/2045 |  | 10000 | 9972 |
| Fin. Auth., Hospital Rev. Bonds (Marion General Hospital), Series 2020-A, 4.00% 7/1/2050 |  | 15000 | 14614 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Indiana University Health Obligated Group), Series 2014-A, 5.00% 12/1/2029 |  | 1000 | 1046 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2025 |  | 1525 | 1569 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2029 |  | 1000 | 1021 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2031 |  | 1700 | 1725 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-B, 3.00% 11/1/2030 |  | 2250 | 2025 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030 |  | 10695 | 10637 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-B, 2.50% 11/1/2030 |  | 1790 | 1553 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-A, 3.00% 11/1/2030 |  | 850 | 765 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2023 |  | 250 | 252 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2027 |  | 1050 | 1078 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2028 |  | 1100 | 1129 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2043 |  | 420 | 411 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2016-A, 5.25% 11/15/2046 |  | 2770 | 2770 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2013-A, 7.00% 11/15/2043 |  | 1000 | 1028 |
| Fin. Auth., Rev. Ref. Bonds (BHI Senior Living Obligated Group), Series 2021-A, 4.00% 11/15/2041 |  | 1350 | 1143 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-1, 5.00% 10/1/2037 |  | 10080 | 11620 |
| Fin. Auth., Wastewater Utility Rev. Ref. Bonds (CWA Auth. Project), Series 2021-2, 3.00% 10/1/2039 |  | 2000 | 1809 |
| Fin. Auth., Wastewater Utility Rev. Ref. Green Bonds (CWA Auth. Project), Series 2021-A, 4.00% 10/1/2046 |  | 1000 | 995 |
| Housing and Community Dev. Auth., Collateralized Rev. Bonds (RD Moving Forward Biggs Project), Series 2022, 2.00% 4/1/2025 (put 4/1/2024) |  | 1125 | 1112 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-B-1, 1.95% 7/1/2035 |  | 2665 | 2067 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-B, 3.50% 1/1/2049 |  | 2835 | 2837 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.75% 1/1/2049 |  | 1515 | 1527 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050 |  | 1920 | 1892 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 7/1/2051 |  | 4210 | 4153 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-C-1, 3.00% 1/1/2052 |  | 2525 | 2481 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 3.00% 7/1/2052 |  | 11960 | 11770 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-C-1, 5.00% 7/1/2053 |  | 1330 | 1419 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2034 |  | 1170 | 1357 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2035 |  | 1230 | 1416 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2036 |  | 1295 | 1471 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-2, 5.00% 1/1/2037 |  | 1355 | 1526 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-1, 5.00% 1/1/2044 |  | 5100 | 5543 |
| City of Indianapolis, Local Public Improvement Bond Bank Bonds (Indianapolis Airport Auth. Project), Series 2019-I-1, 4.00% 1/1/2050 |  | 31485 | 31034 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Bonds, Capital Appreciation Bonds, Series 1999-E, AMBAC insured, 0% 2/1/2025 |  | 2540 | 2406 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2034 |  | 1415 | 1442 |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Cityway 1 Project), Series 2021-B, 5.00% 2/1/2036 |  | 1080 | 1100 |

---

<br> American Funds Tax-Exempt Funds 143

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Indiana (continued)** |  |  |  |
| City of Indianapolis, Local Public Improvement Bond Bank Rev. Ref. Bonds (Waterworks Project), Series 2007-B, National insured, 5.25% 7/1/2023 | USD | 3000 | $3034 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2016-C, 5.00% 1/1/2036 |  | 4550 | 4853 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2016-C, 5.00% 1/1/2037 |  | 5970 | 6348 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2013-A, 5.00% 1/1/2042 |  | 2750 | 2770 |
| Municipal Power Agcy., Power Supply System Rev. Bonds, Series 2022-A, 5.50% 1/1/2053 |  | 1000 | 1137 |
| City of Rockport, Pollution Control Rev. Ref. Bonds (Indiana Michigan Power Co. Project), Series 2002-A, 2.75% 6/1/2025 |  | 3200 | 3197 |
| City of Rockport, Pollution Control Rev. Ref. Bonds (Indiana Michigan Power Co. Project), Series 2009-B, 3.05% 6/1/2025 |  | 12635 | 12710 |
|  |  |  | **231028** |
| **Iowa 0.35%** |  |  |  |
| Fin. Auth., Health Facs. Rev. Bonds (UnityPoint Health), Series 2014-C, 4.00% 2/15/2033 |  | 8650 | 8712 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 |  | 8330 | 8387 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 (put 12/1/2042) |  | 6285 | 6427 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2028 |  | 305 | 305 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2016-A, 4.00% 7/1/2046 |  | 940 | 944 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2021-A, 3.00% 1/1/2047 |  | 865 | 852 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2017-C, 3.50% 1/1/2047 |  | 3850 | 3847 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2018-A, 4.00% 7/1/2047 |  | 1805 | 1822 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.00% 7/1/2047 |  | 1200 | 1224 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2019-D, 3.50% 1/1/2049 |  | 1735 | 1739 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 1/1/2050 |  | 3820 | 3850 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2021-B, 3.00% 7/1/2051 |  | 7900 | 7784 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2022-J, 6.00% 7/1/2052 |  | 4000 | 4458 |
| Fin. Auth., State Revolving Fund Rev. Green Bonds, Series 2021-A, 5.00% 8/1/2034 |  | 2000 | 2394 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026) |  | 16500 | 17132 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 4.00% 6/1/2035 |  | 2000 | 2023 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 4.00% 6/1/2037 |  | 1900 | 1885 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Series 2021-A-2, 4.00% 6/1/2039 |  | 2145 | 2102 |
| Board of Regents of the University of Iowa, Hospital Rev. Bonds (University of Iowa Hospitals and Clinics), Series 2022-B, 3.00% 9/1/2056 |  | 5000 | 3826 |
|  |  |  | **79713** |
| **Kansas 0.19%** |  |  |  |
| Ellis County Unified School Dist. No. 489, G.O. Rev. Ref. and Improvement Bonds, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 9/1/2042 |  | 2000 | 2228 |
| Ellis County Unified School Dist. No. 489, G.O. Rev. Ref. and Improvement Bonds, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 9/1/2047 |  | 2750 | 3009 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2022-B-2, 2.375% 6/1/2027 |  | 430 | 393 |
| City of Overland Park, Special Obligation Sales Tax Rev. Bonds (Bluhawk Star Bond Project), Series 2022-A, 5.50% 11/15/2028<sup>1</sup> |  | 750 | 773 |
| Dept. of Transportation, Highway Rev. Bonds, Series 2004-C-3, (1-month USD-LIBOR x 0.70 + 0.40%) 3.458% 9/1/2023<sup>2</sup> |  | 2500 | 2505 |
| Dept. of Transportation, Highway Rev. Bonds, Series 2004-C-4, (1-month USD-LIBOR x 0.70 + 0.50%) 3.558% 9/1/2024<sup>2</sup> |  | 15900 | 15969 |
| University of Kansas Hospital Auth., Health Facs. Rev. Bonds (University of Kansas Health System), Series 2017-A, 5.00% 3/1/2047 |  | 4515 | 4717 |
| University of Kansas Hospital Auth., Health Facs. Rev. Bonds (University of Kansas Health System), Series 2017-A, 5.00% 3/1/2047 (preref. 3/1/2027) |  | 3245 | 3601 |
| Unified Government of Wyandotte County, Special Obligation Improvement Rev. Ref. Bonds (Wyandotte Plaza Redev. Project), Series 2016, 4.00% 12/1/2028 |  | 325 | 305 |
| Unified Government of Wyandotte County, Special Obligation Improvement Rev. Ref. Bonds (Wyandotte Plaza Redev. Project), Series 2016, 5.00% 12/1/2034 |  | 625 | 596 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Village East Project Area Nos. 2B, 3 and 5), Series 2022, 5.25% 9/1/2035<sup>1</sup> |  | 7975 | 7776 |
|  |  |  | **41872** |

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<br> 144 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Kentucky 1.37%** |  |  |  |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, 4.00% 2/1/2035 | USD | 465 | $469 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), Capital Appreciation Bonds, Series 2000-B, National insured, 0% 10/1/2027 |  | 1000 | 862 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2036 |  | 3320 | 3515 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2041 |  | 3450 | 3598 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2046 |  | 2750 | 2822 |
| Econ. Dev. Fin. Auth., Louisville Arena Project Rev. Ref. Bonds (Louisville Arena Auth., Inc.), Series 2017-A, Assured Guaranty Municipal insured, 4.00% 12/1/2041 |  | 1000 | 993 |
| Econ. Dev. Fin. Auth., Louisville Arena Project Rev. Ref. Bonds (Louisville Arena Auth., Inc.), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 12/1/2045 |  | 11700 | 12064 |
| Econ. Dev. Fin. Auth., Louisville Arena Project Rev. Ref. Bonds (Louisville Arena Auth., Inc.), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 12/1/2047 |  | 2965 | 2966 |
| Housing Corp., Housing Rev. Bonds, Series 2013-D, 3.50% 1/1/2033 |  | 150 | 150 |
| Housing Corp., Multi Family Housing Rev. Bonds (Bowling Green Towers Project), Series 2022, 3.50% 9/1/2025 (put 9/1/2024) |  | 22209 | 22310 |
| Housing Corp., Multi Family Housing Rev. Bonds (Cambridge Square Project), Series 2021, 0.30% 8/1/2024 (put 2/1/2024) |  | 1105 | 1066 |
| Housing Corp., Multi Family Housing Rev. Bonds (New Hope Properties Portfolio Project), Series 2021, 0.41% 4/1/2024 (put 10/1/2023) |  | 15870 | 15428 |
| Housing Corp., Multi Family Housing Rev. Bonds (Winterwood II Rural Housing Portfolio), Series 2021, 0.37% 10/1/2024 (put 10/1/2023) |  | 7250 | 7072 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 5.00% 10/1/2029 |  | 4085 | 4367 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 5.00% 10/1/2033 |  | 1000 | 1062 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 4.00% 10/1/2034 |  | 3045 | 3093 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 4.00% 10/1/2035 |  | 8770 | 8851 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 4.00% 10/1/2036 |  | 11800 | 11850 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, 5.00% 10/1/2037 |  | 5000 | 5300 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, 5.00% 10/1/2038 |  | 2300 | 2436 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, 4.00% 10/1/2040 |  | 2785 | 2710 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, 3.00% 10/1/2043 |  | 2500 | 2061 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-D, 5.00% 10/1/2047 (put 10/1/2029) |  | 5505 | 6133 |
| Louisville/Jefferson Metro County Government, Hospital Rev. Bonds (UofL Health Project), Series 2022-A, 5.00% 5/15/2047 |  | 10000 | 10440 |
| Louisville/Jefferson Metro County Government, Hospital Rev. Bonds (UofL Health Project), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 5/15/2047 |  | 4000 | 4264 |
| Louisville/Jefferson Metro County Government, Hospital Rev. Bonds (UofL Health Project), Series 2022-A, 5.00% 5/15/2052 |  | 33260 | 34506 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2027 |  | 2000 | 2175 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2028 |  | 1500 | 1628 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2032 |  | 2610 | 2811 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2033 |  | 2185 | 2352 |
| Property and Buildings Commission, Commonwealth Rev. Bonds (Project No. 112), Series 2016-B, Assured Guaranty Municipal insured, 5.00% 11/1/2023 |  | 1000 | 1017 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 4/1/2048 (put 4/1/2024) |  | 2500 | 2506 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, 4.00% 1/1/2049 (put 1/1/2025) |  | 17000 | 17002 |

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<br> American Funds Tax-Exempt Funds 145

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Kentucky (continued)** |  |  |  |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-A-1, 4.00% 12/1/2049 (put 6/1/2025) | USD | 26480 | $26559 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-B, (1-month USD-LIBOR x 0.67 + 1.12%) 4.047% 12/1/2049 (put 6/1/2025)<sup>2</sup> |  | 3340 | 3337 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2019-C-1, 4.00% 2/1/2050 (put 2/1/2028) |  | 1200 | 1204 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2020-A, 4.00% 12/1/2050 (put 6/1/2026) |  | 16500 | 16536 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030) |  | 45475 | 45413 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 7/1/2049<sup>1</sup> |  | 3335 | 3208 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 7/1/2053<sup>1</sup> |  | 15910 | 14983 |
|  |  |  | **311119** |
| **Louisiana 1.54%** |  |  |  |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2015-A, 5.00% 1/1/2033 |  | 845 | 884 |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2017-A, 5.00% 1/1/2035 |  | 1340 | 1454 |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2015-A, 5.00% 1/1/2040 |  | 1300 | 1339 |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2015-A, 5.00% 1/1/2045 |  | 2500 | 2561 |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2017-A, 5.00% 1/1/2048 |  | 12855 | 13440 |
| Aviation Board, General Airport Rev. Ref. Bonds (Gulf Opportunity Zone Projects), Series 2019, 5.00% 1/1/2034 |  | 1150 | 1299 |
| Aviation Board, General Airport Rev. Ref. Bonds (Gulf Opportunity Zone Projects), Series 2019, 4.00% 1/1/2037 |  | 1000 | 1018 |
| Aviation Board, General Airport Rev. Ref. Bonds (Gulf Opportunity Zone Projects), Series 2019, 5.00% 1/1/2040 |  | 1625 | 1762 |
| Aviation Board, General Airport Rev. Ref. Bonds (Gulf Opportunity Zone Projects), Series 2019, 5.00% 1/1/2041 |  | 1710 | 1842 |
| Citizens Property Insurance Corp., Assessment Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2026 |  | 12000 | 13022 |
| Parish of East Baton Rouge, Capital Improvements Dist., Sales Tax Rev. Bonds, Series 2019, 5.00% 8/1/2023 |  | 725 | 734 |
| Parish of East Baton Rouge, Capital Improvements Dist., Sales Tax Rev. Bonds, Series 2019, 5.00% 8/1/2024 |  | 700 | 727 |
| Parish of East Baton Rouge, Road and Street Improvement Sales Tax Rev. Ref. Bonds, Series 2020, Assured Guaranty Municipal insured, 5.00% 8/1/2029 |  | 1000 | 1146 |
| Parish of East Baton Rouge, Sewerage Commission, Multi Modal Rev. Ref. Bonds, Series 2021-A, 1.30% 2/1/2041 (put 2/1/2028) |  | 18305 | 16156 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2032 |  | 2070 | 2383 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2033 |  | 1790 | 2055 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2019, 5.00% 2/1/2034 |  | 1500 | 1722 |
| Parish of East Baton Rouge, Sewerage Commission, Rev. Ref. Bonds, Series 2019, 4.00% 2/1/2045 |  | 16500 | 16472 |
| Gasoline and Fuels Tax Rev. Ref. Bonds, Series 2022-A, (USD-SOFR x 0.50 + 0.50%) 3.51% 5/1/2043 (put 5/1/2026)<sup>2</sup> |  | 2245 | 2199 |
| Greater New Orleans Expressway Commission, Toll Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 11/1/2042 |  | 4000 | 4228 |
| Greater New Orleans Expressway Commission, Toll Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 11/1/2047 |  | 3320 | 3507 |
| Housing Corp., Multi Family Housing Rev. Bonds (Byers Estates V Project), Series 2021, 0.35% 4/1/2024 (put 4/1/2023) |  | 3615 | 3594 |
| Housing Corp., Single Family Mortgage Rev. Bonds (Home Ownership Program), Series 2021-D, 3.25% 12/1/2052 |  | 8465 | 8407 |
| Parish of Jefferson, Sales Tax Rev. Ref. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 1000 | 1102 |
| Parish of Jefferson, Sales Tax Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 12/1/2037 |  | 3000 | 3088 |
| Parish of Livingston, Juban Crossing Econ. Dev. Dist., Rev. Ref. Bonds (Drainage Projects), Series 2015-C, 7.00% 9/15/2044<sup>1</sup> |  | 965 | 907 |
| Local Government Environmental Facs. and Community Dev. Auth., Hospital Rev. Ref. Bonds (Woman's Hospital Foundation Project), Series 2017-A, 5.00% 10/1/2044 |  | 5690 | 5893 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Bonds (Southeastern Louisiana University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 8/1/2030 |  | 2000 | 2195 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), Series 2021-A, 2.00% 6/1/2030 |  | 1100 | 991 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), Series 2021-B, 2.50% 4/1/2036 |  | 43380 | 36497 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Louisiana Community and Technical College System Act 391 Projects), Series 2017, BAM insured, 5.00% 10/1/2028 |  | 2500 | 2814 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 3940 | 4302 |

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<br> 146 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Louisiana (continued)** |  |  |  |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2032 | USD | 4580 | $4990 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2033 |  | 4620 | 5016 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2034 |  | 4895 | 5297 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2036 |  | 4680 | 4985 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2043 |  | 1250 | 1297 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Westlake Chemical Corp. Projects), Series 2017, 3.50% 11/1/2032 |  | 6700 | 6405 |
| Louisiana Stadium and Exposition Dist., Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2024 |  | 2000 | 2018 |
| Louisiana Stadium and Exposition Dist., Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2025 |  | 5000 | 5042 |
| Louisiana Stadium and Exposition Dist., Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2032 |  | 2500 | 2517 |
| City of New Orleans, Regional Transit Auth., Sales Tax Rev. Ref. Bonds, Series 2020-A, Assured Guaranty Municipal insured, 5.00% 1/1/2034 |  | 2000 | 2341 |
| City of New Orleans, Regional Transit Auth., Sales Tax Rev. Ref. Bonds, Series 2020-A, Assured Guaranty Municipal insured, 5.00% 1/1/2035 |  | 1500 | 1741 |
| City of New Orleans, Sewerage Service Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 6/1/2030 (preref. 6/1/2025) |  | 900 | 953 |
| City of New Orleans, Sewerage Service Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2033 (preref. 12/1/2025) |  | 1000 | 1073 |
| City of New Orleans, Sewerage Service Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2034 (preref. 12/1/2025) |  | 1000 | 1073 |
| City of New Orleans, Sewerage Service Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 6/1/2045 (preref. 6/1/2025) |  | 1350 | 1430 |
| City of New Orleans, Sewerage Service Rev. Bonds, Series 2020-B, 5.00% 6/1/2045 |  | 1500 | 1591 |
| City of New Orleans, Sewerage Service Rev. Bonds, Series 2020-B, 4.00% 6/1/2050 |  | 2400 | 2325 |
| City of New Orleans, Water Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 12/1/2029 (preref. 12/1/2025) |  | 900 | 966 |
| City of New Orleans, Water Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 12/1/2032 (preref. 12/1/2025) |  | 1000 | 1073 |
| City of New Orleans, Water Rev. and Rev. Ref. Bonds, Series 2014, 5.00% 12/1/2044 (preref. 12/1/2024) |  | 7570 | 7937 |
| Offshore Terminal Auth., Deepwater Port Rev. Bonds (Loop, LLC Project), Series 2013-A, 1.65% 9/1/2033 (put 12/1/2023) |  | 3500 | 3462 |
| Public Facs. Auth., Hospital Rev. Ref. Bonds (Franciscan Missionaries of Our Lady Health System Project), Series 2015-A, 5.00% 7/1/2033 |  | 4970 | 5182 |
| Public Facs. Auth., Hospital Rev. Ref. Bonds (Franciscan Missionaries of Our Lady Health System Project), Series 2015-A, 5.00% 7/1/2033 (preref. 7/1/2025) |  | 30 | 32 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase II Project), Series 2017, 5.00% 7/1/2052 |  | 1000 | 1026 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase II Project), Series 2017, 5.00% 7/1/2057 |  | 8395 | 8602 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase III Project), Series 2019-A, 5.00% 7/1/2059 |  | 2500 | 2582 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson Gateway Project), Series 2016-A, 5.00% 7/1/2046 |  | 1100 | 1129 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson Gateway Project), Series 2016-A, 5.00% 7/1/2051 |  | 17590 | 17963 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson Gateway Project), Series 2016-A, 5.00% 7/1/2056 |  | 10670 | 10877 |
| Public Facs. Auth., Rev. and Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2017, 5.00% 5/15/2042 |  | 1400 | 1458 |
| Public Facs. Auth., Rev. and Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2017, 5.00% 5/15/2046 |  | 24000 | 24889 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2032 (preref. 5/15/2026) |  | 5 | 5 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2015, 5.00% 5/15/2033 |  | 3455 | 3605 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2034 (preref. 5/15/2026) |  | 10 | 11 |
| Public Facs. Auth., Rev. Ref. Bonds (Nineteenth Judicial Dist. Court Building Project), Series 2015, Assured Guaranty Municipal insured, 5.25% 6/1/2051 (preref. 6/1/2025) |  | 12405 | 13223 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2015, 5.00% 5/15/2032 |  | 2000 | 2090 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2032 |  | 495 | 522 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2034 |  | 1490 | 1568 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2015, 5.00% 5/15/2047 |  | 4000 | 4079 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017, 2.10% 6/1/2037 (put 7/1/2024) |  | 2035 | 1994 |

---

<br> American Funds Tax-Exempt Funds 147

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Louisiana (continued)** |  |  |  |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-1, 2.125% 6/1/2037 (put 7/1/2024) | USD | 4700 | $4606 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017, 2.20% 6/1/2037 (put 7/1/2026) |  | 7070 | 6668 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-2, 2.375% 6/1/2037 (put 7/1/2026) |  | 4200 | 3978 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2018-C, BAM insured, 5.00% 12/1/2029 |  | 4300 | 4799 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 12/1/2031 |  | 500 | 566 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 12/1/2033 |  | 325 | 336 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 12/1/2036 |  | 365 | 370 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2017-B, Assured Guaranty Municipal insured, 5.00% 12/1/2036 |  | 1250 | 1372 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2017-B, Assured Guaranty Municipal insured, 5.00% 12/1/2037 |  | 1340 | 1466 |
| City of Shreveport, Water and Sewer Rev. Bonds, Series 2017-B, Assured Guaranty Municipal insured, 5.00% 12/1/2041 |  | 1000 | 1082 |
|  |  |  | **349352** |
| **Maine 0.13%** |  |  |  |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Eastern Maine Healthcare Systems Obligated Group Issue), Series 2016-A, 5.00% 7/1/2046 |  | 1595 | 1513 |
| Housing Auth., Mortgage Purchase Bonds, Series 2020-F, 2.00% 11/15/2035 |  | 1750 | 1403 |
| Housing Auth., Mortgage Purchase Bonds, Series 2021-C, 2.30% 11/15/2046 |  | 4850 | 3352 |
| Housing Auth., Mortgage Purchase Bonds, Series 2017-A, 4.00% 11/15/2047 |  | 665 | 669 |
| Housing Auth., Mortgage Purchase Bonds, Series 2017-B, 4.00% 11/15/2047 |  | 665 | 669 |
| Housing Auth., Mortgage Purchase Bonds, Series 2019-A, 4.00% 11/15/2049 |  | 1375 | 1389 |
| Housing Auth., Mortgage Purchase Bonds, Series 2019-C, 4.00% 11/15/2050 |  | 3125 | 3160 |
| Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-B, 3.50% 11/15/2040 |  | 85 | 85 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2018, 5.00% 7/1/2047 |  | 9000 | 9621 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020, 5.00% 7/1/2050 |  | 6000 | 6510 |
|  |  |  | **28371** |
| **Maryland 1.15%** |  |  |  |
| County of Anne Arundel, Consolidated Special Taxing Dist. Rev. Ref. Bonds (The Villages of Dorchester and Farmington Village Projects), Series 2013, 5.00% 7/1/2023 |  | 225 | 227 |
| County of Anne Arundel, Consolidated Special Taxing Dist. Rev. Ref. Bonds (The Villages of Dorchester and Farmington Village Projects), Series 2013, 5.00% 7/1/2032 |  | 1000 | 1011 |
| County of Anne Arundel, G.O. Rev. Ref. Water and Sewer Bonds, Series 2021, 5.00% 4/1/2023 |  | 2370 | 2380 |
| County of Baltimore, Consolidated Public Improvement Bonds, Series 2021, 5.00% 3/1/2023 |  | 1995 | 1999 |
| County of Baltimore, Consolidated Public Improvement Bonds, Series 2021, 5.00% 3/1/2023 |  | 1000 | 1002 |
| County of Baltimore, Rev. Bonds (Oak Crest Village, Inc. Fac.), Series 2016, 5.00% 1/1/2029 |  | 1070 | 1124 |
| County of Baltimore, Rev. Bonds (Oak Crest Village, Inc. Fac.), Series 2016, 5.00% 1/1/2030 |  | 1000 | 1049 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 5.00% 1/1/2026 |  | 465 | 488 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 5.00% 1/1/2027 |  | 3065 | 3259 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 5.00% 1/1/2028 |  | 3215 | 3460 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2029 |  | 1000 | 1034 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2030 |  | 1655 | 1714 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2031 |  | 1225 | 1264 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2032 |  | 700 | 721 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2036 |  | 1505 | 1519 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2050 |  | 5630 | 5329 |
| Mayor and City Council of Baltimore, Rev. Bonds (Wastewater Projects), Series 2014-C, 5.00% 7/1/2032 |  | 2000 | 2101 |
| Mayor and City Council of Baltimore, Rev. Bonds (Wastewater Projects), Series 2014-C, 5.00% 7/1/2044 |  | 5000 | 5140 |
| Mayor and City Council of Baltimore, Rev. Bonds (Water Projects), Series 2014-A, 5.00% 7/1/2044 |  | 1500 | 1542 |
| Mayor and City Council of Baltimore, Rev. Ref. Bonds (Wastewater Projects), Series 2014, 5.00% 7/1/2039 |  | 2215 | 2291 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Housing Rev. Bonds, Series 2015-B, 4.05% 7/1/2040 |  | 2500 | 2464 |

---

148 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Maryland (continued)** |  |  |  |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 1.95% 9/1/2035 | USD | 2600 | $2052 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-B, 2.10% 9/1/2041 |  | 1650 | 1187 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2018-A, 4.50% 9/1/2048 |  | 4565 | 4684 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2019-C, 3.50% 3/1/2050 |  | 14330 | 14332 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-A, 3.75% 3/1/2050 |  | 15030 | 15146 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2020-D, 3.25% 9/1/2050 |  | 9280 | 9227 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-A, 3.00% 9/1/2051 |  | 5895 | 5814 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-C, 3.00% 9/1/2051 |  | 33405 | 32821 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Ref. Bonds, Series 2015-A, 3.50% 9/1/2045 |  | 690 | 689 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Rev. Bonds, Series 2021-C, 2.60% 1/1/2042 |  | 1700 | 1304 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2027 |  | 1350 | 1445 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2028 |  | 2000 | 2171 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2030 |  | 1250 | 1354 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2031 |  | 1000 | 1082 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2035 |  | 2000 | 2130 |
| Econ. Dev. Corp., Senior Student Housing Rev. Ref. Bonds (University of Maryland, Baltimore Project), Series 2015, 5.00% 7/1/2035 |  | 1000 | 1010 |
| Econ. Dev. Corp., Senior Student Housing Rev. Ref. Bonds (University of Maryland, Baltimore Project), Series 2015, 5.00% 7/1/2039 |  | 2605 | 2621 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Morgan State University Project), Series 2020, 4.25% 7/1/2050 |  | 300 | 285 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Towson University Project), Series 2012, 5.00% 7/1/2029 |  | 250 | 250 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Frostburg State University Project), Series 2013, 5.00% 10/1/2023 |  | 355 | 358 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Frostburg State University Project), Series 2013, 5.00% 10/1/2033 |  | 1000 | 1003 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2027 |  | 135 | 141 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2028 |  | 175 | 182 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2029 |  | 190 | 197 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2030 |  | 325 | 336 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2031 |  | 375 | 386 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2032 |  | 325 | 334 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Towson University Project), Series 2017, 5.00% 7/1/2036 |  | 600 | 608 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (University of Maryland, College Park Projects), Series 2016, Assured Guaranty Municipal insured, 4.00% 6/1/2024 |  | 1350 | 1372 |
| G.O. Bonds, State and Local Facs. Loan of 2022, Series 2022-A-3, 5.00% 6/1/2036 |  | 3500 | 4165 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Adventist HealthCare Issue), Series 2016-A, 5.50% 1/1/2046 |  | 5000 | 5100 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2030 |  | 690 | 728 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2038 |  | 240 | 249 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2043 |  | 700 | 718 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2048 |  | 940 | 960 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Charlestown Community Issue), Series 2016-A, 5.00% 1/1/2026 |  | 210 | 222 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Charlestown Community Issue), Series 2016-A, 5.00% 1/1/2036 |  | 2835 | 2988 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Charlestown Community Issue), Series 2016-A, 5.00% 1/1/2045 |  | 13000 | 13482 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Loyola University Maryland Issue), Series 2014, 5.00% 10/1/2027 |  | 125 | 130 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Loyola University Maryland Issue), Series 2014, 5.00% 10/1/2028 |  | 215 | 224 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Loyola University Maryland Issue), Series 2014, 5.00% 10/1/2032 |  | 165 | 171 |

---

American Funds Tax-Exempt Funds 149

The Tax-Exempt Bond Fund of America (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Maryland (continued)** |  |  |  |
| Health and Higher Educational Facs. Auth., Rev. Bonds (MedStar Health Issue), Series 2015, 5.00% 8/15/2026 | USD | 4290 | $4476 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Mercy Medical Center Issue), Series 2016-A, 5.00% 7/1/2032 |  | 800 | 839 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Mercy Medical Center Issue), Series 2016-A, 5.00% 7/1/2033 |  | 1000 | 1047 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Mercy Medical Center Issue), Series 2016-A, 5.00% 7/1/2034 |  | 1800 | 1883 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Mercy Medical Center Issue), Series 2016-A, 5.00% 7/1/2036 |  | 1500 | 1555 |
| Health and Higher Educational Facs. Auth., Rev. Ref. Bonds (MedStar Health Issue), Series 2015, 5.00% 8/15/2038 |  | 9000 | 9219 |
| Health and Higher Educational Facs. Auth., Rev. Ref. Bonds (Meritus Medical Center), Series 2015, 5.00% 7/1/2040 |  | 1000 | 1017 |
| Health and Higher Educational Facs. Auth., Rev. Ref. Bonds (Meritus Medical Center), Series 2015, 5.00% 7/1/2045 |  | 1000 | 1010 |
| County of Howard, Special Obligation Bonds (Annapolis Junction Town Center Project), Series 2014, 6.10% 2/15/2044 |  | 1420 | 1412 |
| County of Montgomery, Housing Opportunities Commission, Program Rev. Bonds, Series 2019-A, 4.00% 7/1/2049 |  | 1915 | 1946 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2013-A, 4.00% 1/1/2031 |  | 790 | 793 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2017-A, 4.00% 7/1/2048 |  | 440 | 443 |
| County of Montgomery, Housing Opportunities Commission, Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 7/1/2049 |  | 2955 | 2982 |
| County of Montgomery, Housing Opportunities Commission, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2050 |  | 4440 | 4370 |
| County of Prince George, Special Obligation Bonds (Suitland-Naylor Road Project), Series 2016, 4.75% 7/1/2036<sup>1</sup> |  | 1750 | 1766 |
| County of Prince George, Special Obligation Bonds (Suitland-Naylor Road Project), Series 2016, 5.00% 7/1/2046<sup>1</sup> |  | 500 | 505 |
| County of Prince George, Special Obligation Bonds (Woodview Village Infrastructure Improvements), Series 1997-A, 4.70% 7/1/2026 |  | 2080 | 2084 |
| County of Prince George, Special Obligation Rev. Ref. Bonds (Woodview Village Phase II Infrastructure Improvements), Series 2006, Assured Guaranty insured, 5.00% 7/1/2026 |  | 825 | 827 |
| County of Prince George, Special Obligation Rev. Ref. Bonds (Woodview Village Phase II Infrastructure Improvements), Series 2006, Assured Guaranty insured, 5.00% 7/1/2032 |  | 1150 | 1153 |
| County of Prince George, Special Tax Dist. Bonds (Victoria Falls Project), Series 2005, 5.25% 7/1/2035 |  | 3871 | 3886 |
| St. Mary's College of Maryland, Academic Fees and Auxiliary Facs. Fees Rev. Ref. Bonds, Series 2018-A, BAM insured, 4.00% 9/1/2023 |  | 1235 | 1245 |
| Dept. of Transportation, Consolidated Transportation Bonds, Series 2021-A, 2.00% 10/1/2034 |  | 1800 | 1563 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2021-A, 3.00% 7/1/2037 |  | 1000 | 925 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 4.00% 7/1/2037 |  | 2000 | 2085 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2021-A, 3.00% 7/1/2038 |  | 1750 | 1596 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2021-A, 4.00% 7/1/2038 |  | 1225 | 1280 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2021-A, 4.00% 7/1/2040 |  | 1500 | 1547 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2021-A, 4.00% 7/1/2041 |  | 1500 | 1534 |
| Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020, 4.00% 7/1/2045 |  | 9500 | 9487 |
| University System of Maryland, Auxiliary Fac. and Tuition Rev. Ref. Bonds, Series 2021-A, 4.00% 4/1/2040 |  | 8010 | 8157 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2020, 5.00% 12/1/2027 |  | 1560 | 1769 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2015, 3.00% 6/1/2028 (preref. 6/1/2024) |  | 3305 | 3333 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2014-2, 4.00% 6/1/2029 (preref. 6/1/2024) |  | 1875 | 1916 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Bonds, Series 2014-2, 4.00% 6/1/2043 (preref. 6/1/2024) |  | 1500 | 1533 |
| Washington Suburban Sanitary Dist., Consolidated Public Improvement Rev. Ref. Bonds, Series 2017, 3.00% 6/1/2031 |  | 4170 | 4219 |
|  |  |  | **260178** |

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150 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Massachusetts 0.73%** |  |  |  |
| Dev. Fin. Agcy., Hospital Rev. Bonds (Healthcare Obligated Group Issue), Series 2013, 5.25% 11/15/2041 (preref. 11/15/2023) | USD | 3000 | $3066 |
| Dev. Fin. Agcy., Multi Family Housing Rev. Bonds (Salem Heights II Preservation Associates, LP Issue), Series 2021-B, 0.25% 7/1/2024 (put 7/1/2023) |  | 2240 | 2206 |
| Dev. Fin. Agcy., Rev. Bonds (Carleton-Willard Village Issue), Series 2019, 4.00% 12/1/2042 |  | 485 | 462 |
| Dev. Fin. Agcy., Rev. Bonds (Carleton-Willard Village Issue), Series 2019, 5.00% 12/1/2042 |  | 730 | 756 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 4.00% 11/15/2023<sup>1</sup> |  | 225 | 225 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2038<sup>1</sup> |  | 1500 | 1560 |
| Dev. Fin. Agcy., Rev. Bonds (Loomis Communities Issue), Series 2022, 4.00% 1/1/2036<sup>1</sup> |  | 400 | 370 |
| Dev. Fin. Agcy., Rev. Bonds (Loomis Communities Issue), Series 2021, 4.00% 1/1/2041 |  | 445 | 397 |
| Dev. Fin. Agcy., Rev. Bonds (Loomis Communities Issue), Series 2021, 4.00% 1/1/2051 |  | 200 | 167 |
| Dev. Fin. Agcy., Rev. Bonds (Loomis Communities Issue), Series 2022, 4.00% 1/1/2051<sup>1</sup> |  | 520 | 434 |
| Dev. Fin. Agcy., Rev. Bonds (Mass General Brigham, Inc.), Series 2019-T-1, 2.26% 7/1/2049 (put 1/29/2026)<sup>1,2</sup> |  | 1885 | 1860 |
| Dev. Fin. Agcy., Rev. Bonds (Partners HealthCare System Issue), Series 2017-S-2, 5.00% 7/1/2038 (put 1/30/2025) |  | 6000 | 6269 |
| Dev. Fin. Agcy., Rev. Bonds (Partners HealthCare System Issue), Series 2014-M-4, 5.00% 7/1/2044 (preref. 7/1/2023) |  | 2500 | 2527 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2030 |  | 2000 | 2120 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2031 |  | 1925 | 2040 |
| Dev. Fin. Agcy., Rev. Bonds (Wellforce Obligated Issue), Series 2019-A, 5.00% 7/1/2029 |  | 500 | 538 |
| Dev. Fin. Agcy., Rev. Bonds (Wellforce Obligated Issue), Series 2019-A, 5.00% 7/1/2030 |  | 600 | 642 |
| Dev. Fin. Agcy., Rev. Bonds (Wellforce Obligated Issue), Series 2019-A, 5.00% 7/1/2031 |  | 500 | 532 |
| Dev. Fin. Agcy., Rev. Bonds (Wellforce Obligated Issue), Series 2019-A, Assured Guaranty Municipal insured, 5.00% 7/1/2033 |  | 805 | 849 |
| Dev. Fin. Agcy., Rev. Bonds (Wellforce Obligated Issue), Series 2019-A, 5.00% 7/1/2034 |  | 675 | 707 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Berkshire Health Systems Issue), Series 2021-I, 5.00% 10/1/2028 |  | 800 | 896 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Orchard Cove, Inc. Issue), Series 2019, 5.00% 10/1/2039 |  | 500 | 508 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Orchard Cove, Inc. Issue), Series 2019, 5.00% 10/1/2049 |  | 4800 | 4802 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.00% 1/1/2024 |  | 350 | 350 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.00% 1/1/2025 |  | 365 | 366 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2029 |  | 500 | 552 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2017, 5.00% 7/1/2030 |  | 1000 | 1071 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2031 |  | 1300 | 1427 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2033 |  | 1590 | 1730 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2017, 5.00% 7/1/2034 |  | 1000 | 1059 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2035 |  | 1000 | 1074 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2036 |  | 445 | 474 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2037 |  | 605 | 641 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Suffolk University Issue), Series 2019, 5.00% 7/1/2038 |  | 340 | 360 |
| G.O. Bonds, Consolidated Loan, Series 2018-A, 5.00% 1/1/2033 |  | 4000 | 4512 |
| G.O. Bonds, Consolidated Loan, Series 2018-A, 5.00% 1/1/2034 |  | 9000 | 10092 |
| G.O. Bonds, Consolidated Loan, Series 2018-A, 5.00% 1/1/2039 |  | 7500 | 8163 |
| Housing Fin. Agcy., Housing Bonds, Series 2009-C, 5.35% 12/1/2049 |  | 2465 | 2467 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-A-2, 0.45% 12/1/2024 |  | 3325 | 3178 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 178, 3.50% 6/1/2042 |  | 1220 | 1219 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 167, 4.00% 12/1/2043 |  | 40 | 40 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 181, 4.00% 12/1/2044 |  | 355 | 356 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 172, 4.00% 6/1/2045 |  | 405 | 406 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 183, 3.50% 12/1/2046 |  | 360 | 360 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 190, 4.00% 12/1/2048 |  | 5485 | 5531 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 195, 4.00% 12/1/2048 |  | 3085 | 3113 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 203, 4.50% 12/1/2048 |  | 590 | 602 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 211, 3.50% 12/1/2049 |  | 6600 | 6602 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 214, 3.75% 12/1/2049 |  | 4650 | 4680 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 224, 5.00% 6/1/2050 |  | 270 | 287 |
| Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 221, 3.00% 12/1/2050 |  | 4225 | 4163 |
| Special Obligation Dedicated Tax Rev. Ref. Bonds, Series 2005, FGIC National insured, 5.50% 1/1/2034 |  | 54335 | 66736 |
|  |  |  | **165544** |
| **Michigan 2.68%** |  |  |  |
| Building Auth., Rev. Ref. Bonds (Facs. Program), Series 2015-I, 5.00% 4/15/2026 |  | 1700 | 1822 |
| Building Auth., Rev. Ref. Bonds (Facs. Program), Series 2015-I, 5.00% 4/15/2031 |  | 8770 | 9390 |
| Building Auth., Rev. Ref. Bonds (Facs. Program), Series 2022-I, 5.00% 10/15/2047 |  | 5000 | 5597 |

---

American Funds Tax-Exempt Funds 151

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Michigan (continued)** |  |  |  |
| Building Auth., Rev. Ref. Bonds (Facs. Program), Series 2022-I, 4.00% 10/15/2052 | USD | 2500 | $2478 |
| Building Auth., Rev. Ref. Bonds (Facs. Program), Series 2022-I, 5.25% 10/15/2057 |  | 5000 | 5579 |
| City of Detroit, Sewage Disposal System Rev. Ref. Bonds, Series 2006-D, Assured Guaranty Municipal insured, (3-month USD-LIBOR + 0.60%) 3.794% 7/1/2032<sup>2</sup> |  | 54160 | 53061 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2027 |  | 1000 | 1052 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2030 |  | 1300 | 1369 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2039 |  | 115 | 117 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2040 |  | 205 | 184 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2041 |  | 635 | 563 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2042 |  | 250 | 220 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2020, 5.50% 4/1/2045 |  | 1500 | 1555 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2046 |  | 595 | 592 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2050 |  | 3500 | 3439 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2020, 5.50% 4/1/2050 |  | 2215 | 2284 |
| City of Detroit, Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Bonds, Series 2001-B, Assured Guaranty Municipal Insured, 5.50% 7/1/2029 |  | 10420 | 11639 |
| Detroit School Dist., Unlimited Tax G.O. Bonds, Series 2020-A, 5.00% 5/1/2031 |  | 1435 | 1661 |
| Detroit School Dist., Unlimited Tax G.O. School Building and Site Improvement Rev. Ref. Bonds, Series 1998-C, FGIC insured, 5.25% 5/1/2025 |  | 830 | 859 |
| Detroit School Dist., Unlimited Tax G.O. School Building and Site Improvement Rev. Ref. Bonds, Series 2005-A, Assured Guaranty Municipal insured, 5.25% 5/1/2032 |  | 20000 | 23787 |
| Fin. Auth., Distributable State Aid Rev. and Rev. Ref. Bonds (Charter County of Wayne), Series 2020, 5.00% 11/1/2031 |  | 1845 | 2184 |
| Fin. Auth., Distributable State Aid Rev. and Rev. Ref. Bonds (Charter County of Wayne), Series 2020, 4.00% 11/1/2055 |  | 7320 | 6952 |
| Fin. Auth., Distributable State Aid Rev. and Rev. Ref. Bonds (Charter County of Wayne), Series 2020, BAM insured, 4.00% 11/1/2055 |  | 2000 | 1972 |
| Fin. Auth., Distributable State Aid Rev. Bonds (Charter County of Wayne Criminal Justice Center Project), Series 2018, 5.00% 11/1/2036 |  | 2500 | 2780 |
| Fin. Auth., Distributable State Aid Rev. Bonds (Charter County of Wayne Criminal Justice Center Project), Series 2018, 5.00% 11/1/2037 |  | 1000 | 1108 |
| Fin. Auth., Distributable State Aid Rev. Bonds (Charter County of Wayne Criminal Justice Center Project), Series 2018, 5.00% 11/1/2038 |  | 1000 | 1103 |
| Fin. Auth., Distributable State Aid Rev. Bonds (Charter County of Wayne Criminal Justice Center Project), Series 2018, 5.00% 11/1/2043 |  | 3500 | 3742 |
| Fin. Auth., Distributable State Aid Rev. Ref. Bonds (Charter County of Wayne), Series 2020, BAM insured, 4.00% 11/1/2055 |  | 2000 | 1972 |
| Fin. Auth., Higher Education Facs. Limited Obligation Rev. and Rev. Ref. Bonds (Albion College), Series 2022, 4.00% 12/1/2051 |  | 2165 | 1844 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2015, 5.50% 12/1/2026 |  | 750 | 805 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 5.00% 12/1/2034 |  | 1300 | 1433 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 4.00% 12/1/2040 |  | 12030 | 12019 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017, 5.00% 12/1/2046 (preref. 6/1/2027) |  | 200 | 223 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2019-2, 4.00% 12/1/2049 |  | 1515 | 1470 |
| Fin. Auth., Hospital Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-MI-2, 4.00% 12/1/2036 |  | 1200 | 1225 |
| Fin. Auth., Hospital Rev. Bonds (Trinity Health Credit Group), Series 2013-5, 4.00% 12/1/2040 (preref. 12/1/2029) |  | 145 | 161 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Beaumont Health Credit Group), Series 2016-A, 5.00% 11/1/2044 |  | 1000 | 1026 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Henry Ford Health System), Series 2016, 5.00% 11/15/2031 |  | 4300 | 4621 |
| Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2019-A, 4.00% 2/15/2047 |  | 16870 | 16273 |
| Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2019-A, 4.00% 2/15/2050 |  | 17220 | 16404 |
| Fin. Auth., Hospital Rev. Ref. Bonds (MidMichigan Health Credit Group), Series 2014, 5.00% 6/1/2039 (preref. 6/1/2024) |  | 1000 | 1035 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Sparrow Obligated Group), Series 2015, 5.00% 11/15/2029 |  | 3000 | 3116 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Sparrow Obligated Group), Series 2015, 5.00% 11/15/2031 |  | 1500 | 1557 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Sparrow Obligated Group), Series 2015, 5.00% 11/15/2033 |  | 1500 | 1554 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Sparrow Obligated Group), Series 2015, 5.00% 11/15/2034 |  | 1500 | 1550 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Sparrow Obligated Group), Series 2015, 5.00% 11/15/2045 |  | 1000 | 1021 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Local Project Bonds), Series 2014-C-3, Assured Guaranty Municipal insured, 5.00% 7/1/2023 |  | 2500 | 2524 |

---

152 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Michigan (continued)** |  |  |  |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Local Project Bonds), Series 2014-C-3, Assured Guaranty Municipal insured, 5.00% 7/1/2032 | USD | 1500 | $1547 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2028 |  | 1415 | 1486 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2032 |  | 1355 | 1421 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2033 |  | 2565 | 2687 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2034 |  | 3000 | 3129 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2035 |  | 3000 | 3126 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Water Supply System Rev. Ref. Local Project Bonds), Series 2014-D-4, 5.00% 7/1/2034 |  | 1425 | 1462 |
| Fin. Auth., Tobacco Settlement Asset-Backed Bonds, Series 2020-A-1, 4.00% 6/1/2036 |  | 1000 | 994 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2028 |  | 3000 | 3025 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2039 |  | 500 | 502 |
| Counties of Genesee, Lapeer and Sanilac, Karegnondi Water Auth., Water Supply System Bonds (Karegnondi Water Pipeline), Series 2018, 5.00% 11/1/2030 |  | 1000 | 1100 |
| Counties of Genesee, Lapeer and Sanilac, Karegnondi Water Auth., Water Supply System Bonds (Karegnondi Water Pipeline), Series 2018, 5.00% 11/1/2032 |  | 1200 | 1317 |
| Counties of Genesee, Lapeer and Sanilac, Karegnondi Water Auth., Water Supply System Bonds (Karegnondi Water Pipeline), Series 2018, 5.00% 11/1/2035 |  | 1580 | 1709 |
| County of Grand Traverse, Hospital Fin. Auth., Rev. and Rev. Ref. Bonds (Munson Healthcare Obligated Group), Series 2021, 3.00% 7/1/2051 |  | 8385 | 6358 |
| Great Lakes Water Auth., Sewage Disposal System Rev. Ref. Bonds, Series 2018-B, 5.00% 7/1/2028 |  | 3990 | 4504 |
| Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-A, 5.00% 7/1/2045 |  | 1500 | 1631 |
| Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-B, 5.00% 7/1/2045 |  | 4090 | 4432 |
| Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-A, 5.00% 7/1/2049 |  | 4750 | 5073 |
| Great Lakes Water Auth., Water Supply System Rev. Bonds, Series 2020-B, 5.00% 7/1/2049 |  | 4300 | 4578 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 7/1/2029 |  | 3000 | 3421 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 5.00% 7/1/2034 |  | 5760 | 6166 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-D, 5.00% 7/1/2036 |  | 6800 | 7197 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2046 |  | 10800 | 11236 |
| Hospital Fin. Auth., Hospital Rev. Bonds (Ascension Health Senior Credit Group), Series 1999-B-3, 4.00% 11/15/2027 |  | 5000 | 5356 |
| Hospital Fin. Auth., Hospital Rev. Bonds (Ascension Health Senior Credit Group), Series 1999-B-3, 4.00% 11/15/2031 |  | 4000 | 4212 |
| Hospital Fin. Auth., Hospital Rev. Bonds (Ascension Health Senior Credit Group), Series 1999-B-3, 4.00% 11/15/2032 |  | 14000 | 14646 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Project Rev. Bonds (Ascension Health Senior Credit Group), Series 2010-F-3, 4.00% 11/15/2047 (put 7/1/2024) |  | 6750 | 6910 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Project Rev. Bonds (Ascension Health Senior Credit Group), Series 2010-F-4, 5.00% 11/15/2047 |  | 1500 | 1568 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Carpenter Place Apartments Project), Series 2021, 1.25% 12/1/2024 (put 12/1/2023) |  | 14290 | 14090 |
| Housing Dev. Auth., Multi Family Housing Rev. Bonds (Mid Apartments Project), Series 2021, 0.40% 12/1/2024 (put 12/1/2023) |  | 5465 | 5307 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2019-A-1, 3.25% 10/1/2044 |  | 1000 | 832 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2020-A-1, 2.70% 10/1/2045 |  | 1650 | 1278 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 2.45% 10/1/2046 |  | 5565 | 3890 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.10% 12/1/2031 |  | 1025 | 1015 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 3.35% 12/1/2034 |  | 3000 | 2960 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-A, 4.00% 6/1/2046 |  | 735 | 739 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047 |  | 10955 | 10946 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2017-B, 3.50% 6/1/2048 |  | 6265 | 6257 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-A, 4.00% 12/1/2048 |  | 18055 | 18229 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2018-C, 4.25% 6/1/2049 |  | 14560 | 14801 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.25% 12/1/2049 |  | 14470 | 14745 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2019-B, 3.75% 6/1/2050 |  | 3960 | 3989 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-A, 3.50% 12/1/2050 |  | 4190 | 4196 |

---

American Funds Tax-Exempt Funds 153

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Michigan (continued)** |  |  |  |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2020-C, 3.00% 6/1/2051 | USD | 4610 | $4546 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052 |  | 3115 | 3067 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-A, 5.00% 6/1/2053 |  | 9375 | 9970 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2022-D, 5.50% 6/1/2053 |  | 9015 | 9834 |
| City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2019-A, 5.00% 7/1/2038 |  | 2500 | 2767 |
| City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2019-A, 5.00% 7/1/2044 |  | 2000 | 2169 |
| City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2019-A, 5.00% 7/1/2048 |  | 5800 | 6224 |
| City of Lansing, Board of Water and Light, Utility System Rev. Bonds, Series 2021-B, 2.00% 7/1/2051 (put 7/1/2026) |  | 5500 | 5282 |
| Livonia Public Schools School Dist., School Building and Site G.O. Bonds, Series 2013-I, Assured Guaranty Municipal insured, 5.00% 5/1/2038 |  | 2000 | 2012 |
| Board of Trustees of Michigan State University, Rev. Ref. Bonds, Series 2019-C, 4.00% 2/15/2039 |  | 1140 | 1160 |
| Board of Trustees of Michigan State University, Rev. Ref. Bonds, Series 2019-C, 4.00% 2/15/2044 |  | 2840 | 2841 |
| City of Royal Oak, Hospital Fin. Auth., Hospital Rev. Ref. Bonds (William Beaumont Hospital Obligated Group), Series 2014-D, 5.00% 9/1/2030 (preref. 3/1/2024) |  | 1160 | 1192 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Detroit Edison Co. Exempt Facs. Project), Series 2008-ET-2, 1.35% 8/1/2029 |  | 22000 | 19596 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Detroit Edison Co. Pollution Control Bonds Project), Series 1995-CC, 1.45% 9/1/2030 |  | 32410 | 28402 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 4.00% 11/15/2023 |  | 750 | 749 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2012-A, 5.00% 12/1/2032 |  | 2500 | 2505 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2032 |  | 1500 | 1701 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2033 |  | 1000 | 1131 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2034 |  | 2000 | 2248 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2035 |  | 4000 | 4469 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2036 |  | 3500 | 3880 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2012-A, 5.00% 12/1/2037 |  | 7400 | 7412 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2037 |  | 5585 | 6154 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2038 |  | 3000 | 3296 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2015-D, 5.00% 12/1/2040 |  | 12800 | 13359 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2017-A, 5.00% 12/1/2042 |  | 1850 | 1976 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2018-A, 5.00% 12/1/2043 |  | 4210 | 4533 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2014-B, 5.00% 12/1/2044 |  | 1900 | 1946 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2015-D, 5.00% 12/1/2045 |  | 13010 | 13475 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2021-A, 5.00% 12/1/2046 |  | 1750 | 1929 |
| County of Wayne, Airport Auth., Airport Rev. Bonds (Detroit Metropolitan Wayne County Airport), Series 2017-A, 5.00% 12/1/2047 |  | 2750 | 2911 |
|  |  |  | **605725** |
| **Minnesota 0.44%** |  |  |  |
| City of Duluth, Econ. Dev. Auth., Health Care Facs. Rev. Bonds (Essentia Health Obligated Group), Series 2018-A, 5.00% 2/15/2058 |  | 14080 | 14458 |
| G.O. Bonds, Series 2021-A, 4.00% 9/1/2037 |  | 695 | 750 |
| City of Hopkins, Multi Family Housing Rev. Bonds (Raspberry Ridge Project), Series 2021, 0.26% 2/1/2024 (put 2/1/2023) |  | 4800 | 4800 |

---

154 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Minnesota (continued)** |  |  |  |
| Housing Fin. Agcy., Homeownership Fin. Bonds (GNMA and FNMA Pass-Through Program), Series 2012-B, 2.25% 12/1/2042 | USD | 2112 | $1949 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (GNMA and FNMA Pass-Through Program), Series 2015-A, 2.80% 2/1/2045 |  | 460 | 440 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (GNMA and FNMA Pass-Through Program), Series 2017-G, 2.65% 10/1/2047 |  | 10097 | 9632 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (Mortgage-Backed Securities Pass-Through Program), Series 2017-I, 2.80% 12/1/2047 |  | 3722 | 3563 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (Mortgage-Backed Securities Pass-Through Program), Series 2018-A, 3.30% 3/1/2048 |  | 867 | 840 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-B, 4.00% 1/1/2038 |  | 130 | 131 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-B, 3.50% 7/1/2046 |  | 2700 | 2698 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2016-E, 4.00% 1/1/2047 |  | 725 | 730 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-B, 4.00% 7/1/2047 |  | 1405 | 1417 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2017-E, 4.00% 1/1/2048 |  | 1960 | 1979 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2018-B, 4.00% 7/1/2048 |  | 8085 | 8139 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2019-B, 4.25% 7/1/2049 |  | 3480 | 3555 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-B, 3.50% 7/1/2050 |  | 3820 | 3825 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2020-I, 3.00% 1/1/2051 |  | 3455 | 3407 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-B, 3.00% 7/1/2051 |  | 6365 | 6272 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-D, 3.00% 1/1/2052 |  | 1615 | 1590 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-F, 3.00% 7/1/2052 |  | 5550 | 5463 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2021-H, 3.00% 7/1/2052 |  | 2965 | 2917 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2022-A, 3.00% 7/1/2052 |  | 2270 | 2232 |
| City of Minneapolis, Health Care System Rev. Bonds (Fairview Health Services), Series 2015-A, 5.00% 11/15/2033 |  | 2575 | 2694 |
| Municipal Gas Agcy., Commodity Supply Rev. Bonds, Series 2022-A, 4.00% 12/1/2052 (put 12/1/2027) |  | 2745 | 2799 |
| City of St. Paul, Housing and Redev. Auth., Hospital Fac. Rev. Bonds (HealthEast Care System Project), Series 2015-A, 5.00% 11/15/2029 (preref. 11/15/2025) |  | 745 | 796 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-A, 4.25% 1/1/2052 |  | 4130 | 4160 |
| City of St. Paul, Metropolitan Airports Commission, Airport Rev. Ref. Bonds, Series 2022-A, 5.00% 1/1/2052 |  | 8500 | 9197 |
|  |  |  | **100433** |
| **Mississippi 0.29%** |  |  |  |
| Business Fin. Corp., Rev. Ref. Bonds (System Energy Resources, Inc. Project), Series 2021, 2.375% 6/1/2044 |  | 4405 | 3096 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2031 |  | 1590 | 1695 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2032 |  | 1690 | 1798 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2033 |  | 1275 | 1353 |
| Dev. Bank, Special Obligation Bonds (Municipal Energy Agcy. of Mississippi Power Supply Project), Series 2015-A, Assured Guaranty Municipal insured, 5.00% 3/1/2035 |  | 1150 | 1213 |
| Dev. Bank, Special Obligation Rev. Ref. Bonds (Harrison County Highway Ref. Project), Series 2013-A, 5.00% 1/1/2025 |  | 3000 | 3140 |
| Dev. Bank, Special Obligation Rev. Ref. Bonds (Madison County Highway Ref. Project), Series 2013-C, 5.00% 1/1/2026 |  | 4000 | 4290 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2032 |  | 3000 | 3328 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2033 |  | 3600 | 3973 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2035 |  | 2000 | 2177 |
| Gaming Tax Rev. Bonds, Series 2019-A, 5.00% 10/15/2037 |  | 4000 | 4314 |
| Gaming Tax Rev. Ref. Bonds, Series 2015-E, 5.00% 10/15/2029 |  | 2500 | 2643 |
| Gaming Tax Rev. Ref. Bonds, Series 2015-E, 5.00% 10/15/2032 |  | 7500 | 7905 |
| Gaming Tax Rev. Ref. Bonds, Series 2015-E, 5.00% 10/15/2034 |  | 12960 | 13586 |
| Home Corp., Collateralized Multi Family Housing Rev. Bonds (J&A Dev. Portfolio Project I), Series 2021-1, 0.30% 2/1/2024 (put 2/1/2023) |  | 3655 | 3655 |
| Home Corp., Multi Family Housing Rev. Bonds (Southwest Village Apartments Project), Series 2022-2, 2.00% 2/1/2025 (put 2/1/2024) |  | 2360 | 2338 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2017-D, 4.00% 12/1/2043 |  | 320 | 322 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 12/1/2048 |  | 1600 | 1617 |

---

American Funds Tax-Exempt Funds 155

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Mississippi (continued)** |  |  |  |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 6/1/2051 | USD | 1955 | $1926 |
| Home Corp., Single Family Mortgage Social Rev. Bonds, Series 2022-C, 5.00% 12/1/2052 |  | 735 | 784 |
| County of Warren, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series 2018, 2.90% 9/1/2032 (put 9/1/2023) |  | 750 | 749 |
|  |  |  | **65902** |
| **Missouri 0.94%** |  |  |  |
| Cities of Brentwood and Maplewood, Hanley Road Corridor Transportation Dev. Dist., Transportation Sales Tax Rev. Ref. Bonds, Series 2020, 1.625% 10/1/2033 |  | 360 | 359 |
| Cities of Brentwood and Maplewood, Hanley Road Corridor Transportation Dev. Dist., Transportation Sales Tax Rev. Ref. Bonds, Series 2020, 2.00% 10/1/2039 |  | 800 | 778 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-A, 4.00% 7/1/2037 |  | 3000 | 3021 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-A, 4.00% 7/1/2039 |  | 3700 | 3679 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (BJC Health System), Series 2021-A, 4.00% 7/1/2040 |  | 2300 | 2278 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Children's Mercy Hospital), Series 2017-A, 4.00% 5/15/2042 |  | 7575 | 7606 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Cox Health Project), Series 2013-A, 5.00% 11/15/2038 |  | 2000 | 2012 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (SSM Health Care), Series 2018-C, 5.00% 6/1/2036 (put 6/1/2023) |  | 16000 | 16021 |
| Health and Educational Facs. Auth., Health Facs. Rev. Ref. Bonds (St. Anthony's Medical Center), Series 2015-B, 5.00% 2/1/2045 |  | 3750 | 3836 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2014-A, 5.00% 2/1/2023 |  | 750 | 750 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-A, 5.00% 2/1/2024 |  | 460 | 463 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-B, 5.00% 2/1/2024 |  | 460 | 463 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2014-A, 5.00% 2/1/2025 |  | 915 | 921 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-B, 5.00% 2/1/2030 |  | 220 | 223 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2016-B, 5.00% 2/1/2031 |  | 200 | 202 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2021, 4.00% 2/1/2032 |  | 1100 | 1031 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 5.00% 2/1/2042 |  | 1125 | 1097 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% 2/1/2048 |  | 18200 | 14663 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 5.00% 2/1/2048 |  | 2000 | 1915 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Ref. Bonds (Lutheran Senior Services), Series 2016-A, 5.00% 2/1/2028 |  | 415 | 422 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Ref. Bonds (Lutheran Senior Services), Series 2016-A, 5.00% 2/1/2029 |  | 1000 | 1015 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2015-C, 4.00% 11/1/2036 |  | 1185 | 1190 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-A-2, 4.00% 5/1/2040 |  | 5435 | 5462 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2016-B, 3.50% 5/1/2041 |  | 995 | 994 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2017-D, 4.00% 5/1/2047 |  | 2270 | 2288 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2019-A, 4.25% 5/1/2047 |  | 3330 | 3394 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2017-B, 3.25% 9/1/2047 |  | 4006 | 3985 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2017-C, 3.30% 12/1/2047 |  | 3255 | 3234 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2018-A, 4.25% 5/1/2049 |  | 1750 | 1779 |

---

156 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Missouri (continued)** |  |  |  |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2019-C, 3.875% 5/1/2050 | USD | 10735 | $10859 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2019-B, 4.00% 5/1/2050 |  | 2985 | 3026 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-A, 3.50% 11/1/2050 |  | 1865 | 1867 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2020-C, 3.50% 11/1/2050 |  | 3265 | 3270 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-A, 3.00% 5/1/2052 |  | 1570 | 1547 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-B, 3.00% 5/1/2052 |  | 7375 | 7262 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 11/1/2052 |  | 2965 | 2945 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2023-A, 5.75% 5/1/2053 |  | 3000 | 3311 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-A, 3.75% 5/1/2038 |  | 235 | 235 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2014-B, 4.00% 11/1/2040 |  | 215 | 216 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2014-A, 4.00% 11/1/2041 |  | 65 | 65 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-B-2, 4.00% 11/1/2045 |  | 1820 | 1831 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, Assured Guaranty Municipal insured, 5.00% 10/1/2040 |  | 1815 | 1975 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, Assured Guaranty Municipal insured, 5.00% 10/1/2049 |  | 1000 | 1065 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2017-A, Assured Guaranty Municipal insured, 5.25% 7/1/2025 |  | 5000 | 5332 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2026 |  | 5465 | 5873 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2028 |  | 5080 | 5893 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2029 |  | 1000 | 1111 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2029 |  | 8125 | 9615 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2030 |  | 1250 | 1386 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2030 |  | 12770 | 15414 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 7/1/2031 |  | 2155 | 2477 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2031 |  | 12255 | 15068 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 7/1/2032 |  | 3000 | 3438 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 7/1/2033 |  | 2400 | 2732 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2019-C, 5.00% 7/1/2034 |  | 1750 | 1974 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2023-A, 5.00% 7/1/2048 |  | 3500 | 3836 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2023-A, 5.00% 7/1/2052 |  | 6425 | 7012 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2012, 6.125% 8/15/2042 |  | 1120 | 1120 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), Series 2018, 5.25% 9/1/2053 |  | 3250 | 3013 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated Group), Series 2015-A, 5.00% 12/1/2035 |  | 1000 | 987 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated Group), Series 2015-A, 5.125% 12/1/2045 |  | 1050 | 1007 |
|  |  |  | **211843** |

---

American Funds Tax-Exempt Funds 157

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Montana 0.08%** |  |  |  |
| City of Forsyth, Pollution Control Rev. Ref. Bonds (Portland General Electric Co. Projects), Series 1998-A, 2.125% 5/1/2033 | USD | 1000 | $893 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-B, 2.75% 12/1/2040 |  | 675 | 594 |
| Board of Housing, Single Family Mortgage Bonds, Series 2018-B, 4.00% 12/1/2043 |  | 1785 | 1800 |
| Board of Housing, Single Family Mortgage Bonds, Series 2016-A-2, 3.50% 6/1/2044 |  | 1380 | 1379 |
| Board of Housing, Single Family Mortgage Bonds, Series 2019-A, 4.25% 12/1/2045 |  | 1525 | 1550 |
| Board of Housing, Single Family Mortgage Bonds, Series 2020-A-1, 3.50% 6/1/2050 |  | 3370 | 3374 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-A-1, 3.00% 6/1/2051 |  | 5820 | 5736 |
| Board of Housing, Single Family Mortgage Bonds, Series 2021-B, 3.00% 12/1/2051 |  | 1450 | 1428 |
| Board of Housing, Single Family Mortgage Bonds, Series 2022-A, 3.00% 6/1/2052 |  | 535 | 526 |
|  |  |  | **17280** |
| **Nebraska 0.51%** |  |  |  |
| Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 5), Series 2022-1, 5.00% 5/1/2053 (put 10/1/2029) |  | 26085 | 27577 |
| Central Plains Energy Project, Gas Supply Rev. Ref. Bonds, Series 2019, 4.00% 12/1/2049 (put 8/1/2025) |  | 3650 | 3697 |
| County of Douglas, Educational Facs. Rev. Bonds (Creighton University), Series 2021-B, (SIFMA Municipal Swap Index + 0.53%) 2.19% 7/1/2035 (put 9/1/2026)<sup>2</sup> |  | 7930 | 7833 |
| County of Douglas, Hospital Auth. No. 2 (Children's Hospital Obligated Group), Health Facs. Rev. and Rev. Ref. Bonds, Series 2020-A, 4.00% 11/15/2050 |  | 1000 | 990 |
| County of Douglas, Hospital Auth. No. 2 (Methodist Health System), Health Facs. Rev. Ref. Bonds, Series 2015, 5.00% 11/1/2045 |  | 4340 | 4418 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2014-A, 4.00% 9/1/2044 |  | 110 | 110 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-A, 3.50% 9/1/2045 |  | 1495 | 1494 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 9/1/2045 |  | 920 | 919 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-A, 3.50% 9/1/2046 |  | 3135 | 3132 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-C, 3.50% 9/1/2046 |  | 2115 | 2114 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-A, 4.00% 9/1/2048 |  | 5105 | 5153 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2018-C, 4.00% 9/1/2048 |  | 3440 | 3475 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-C, 3.00% 9/1/2050 |  | 7390 | 7291 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2021-C, 3.00% 9/1/2050 |  | 8735 | 8602 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2020-A, 3.50% 9/1/2050 |  | 3020 | 3024 |
| Omaha Public Power Dist., Electric System Rev. Bonds, Series 2017-A, 5.00% 2/1/2030 |  | 1000 | 1128 |
| Omaha Public Power Dist., Electric System Rev. Bonds, Series 2021-A, 5.00% 2/1/2046 |  | 1470 | 1630 |
| University of Nebraska Facs. Corp., University Facs. Program Bonds, Series 2021-A, 4.00% 7/15/2062 |  | 35000 | 33989 |
|  |  |  | **116576** |
| **Nevada 1.12%** |  |  |  |
| Clark County School Dist., Limited Tax G.O. Building and Rev. Ref. Bonds, Series 2017-C, 5.00% 6/15/2034 |  | 3615 | 3972 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2020-A, Assured Guaranty Municipal insured, 3.00% 6/15/2024 |  | 575 | 579 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2021-A, 3.00% 6/15/2035 |  | 11525 | 11016 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2021-A, 3.00% 6/15/2036 |  | 11870 | 11007 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2020-A, Assured Guaranty Municipal insured, 4.00% 6/15/2039 |  | 1950 | 1987 |
| Clark County School Dist., Limited Tax G.O. Building Bonds, Series 2020-A, Assured Guaranty Municipal insured, 4.00% 6/15/2040 |  | 725 | 736 |
| County of Clark, Airport System Rev. Bonds (McCarran International Airport), Series 2019-B, 5.00% 7/1/2033 |  | 9655 | 11145 |
| County of Clark, Airport System Rev. Bonds (McCarran International Airport), Series 2019-B, 5.00% 7/1/2041 |  | 9700 | 10595 |
| County of Clark, Airport System Rev. Ref. Bonds, Series 2017-A-2, 5.00% 7/1/2040 |  | 5320 | 5685 |
| County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2019-A, 5.00% 7/1/2023 |  | 3000 | 3031 |
| County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2021-A, 5.00% 7/1/2034 |  | 8725 | 10283 |
| County of Clark, Airport System Rev. Ref. Bonds (McCarran International Airport), Series 2021-A, 5.00% 7/1/2035 |  | 7000 | 8163 |
| County of Clark, Highway Rev. Bonds (Indexed Fuel Tax and Motor Vehicle Fuel Tax), Series 2022, 5.00% 7/1/2026 |  | 1815 | 1978 |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2015-C, 5.00% 7/1/2026 |  | 1000 | 1092 |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2015-C, 5.00% 7/1/2027 |  | 1000 | 1118 |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2019-E, 5.00% 7/1/2032 |  | 1000 | 1157 |

---

158 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Nevada (continued)** |  |  |  |
| County of Clark, Las Vegas-McCarran International Airport, Passenger Fac. Charge Rev. Ref. Bonds, Series 2019-E, 5.00% 7/1/2033 | USD | 1000 | $1154 |
| County of Clark, Limited Tax G.O. Crossover Rev. Ref. Bonds (Las Vegas Convention and Visitors Auth.), Series 2017-C, 5.00% 7/1/2029 |  | 7230 | 8077 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2032 |  | 3500 | 3964 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2033 |  | 4250 | 4803 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2034 |  | 6500 | 7299 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2035 |  | 5250 | 5841 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 6/1/2036 |  | 7350 | 8102 |
| County of Clark, Limited Tax G.O. Stadium Improvement Bonds, Series 2018-A, 5.00% 5/1/2048 |  | 22000 | 23439 |
| County of Clark, Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2010, 2.10% 6/1/2031 |  | 5000 | 4217 |
| Housing Division, Single Family Mortgage Rev. Bonds, Series 2019-B, 4.00% 10/1/2049 |  | 4255 | 4308 |
| Housing Division, Single Family Mortgage Rev. Ref. Bonds, Series 2021-A, 3.00% 4/1/2051 |  | 3250 | 3201 |
| Housing Division, Single Family Mortgage Rev. Ref. Bonds, Series 2022-A, 3.50% 4/1/2051 |  | 12620 | 12652 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2040 |  | 1000 | 1033 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2045 |  | 1225 | 1257 |
| City of Las Vegas, Sales Tax Increment Rev. Bonds, Series 2016, 3.50% 6/15/2025<sup>1</sup> |  | 180 | 174 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion and Renovation Rev. Bonds, Series 2022-B, 5.25% 7/1/2049 |  | 17770 | 19714 |
| Las Vegas Convention and Visitors Auth., Convention Center Expansion Rev. Bonds, Series 2018-B, 5.00% 7/1/2043 |  | 11250 | 11858 |
| Las Vegas Convention and Visitors Auth., Rev. Bonds, Series 2019-B, 5.00% 7/1/2023 |  | 600 | 605 |
| Las Vegas Convention and Visitors Auth., Rev. Bonds, Series 2019-B, 5.00% 7/1/2024 |  | 425 | 439 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2031 |  | 1600 | 1738 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2032 |  | 1115 | 1210 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2033 |  | 2500 | 2704 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2041 |  | 14000 | 14818 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Improvement and Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2046 |  | 1635 | 1720 |
| Las Vegas Valley Water Dist., Limited Tax G.O. Water Rev. Ref. Bonds, Series 2021-C, 2.00% 6/1/2034 |  | 6430 | 5597 |
| City of Reno, Sales Tax Rev. Ref. Bonds (ReTRAC - Reno Transportation Rail Access Corridor Project), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 6/1/2028 |  | 1000 | 1096 |
| City of Reno, Sales Tax Rev. Ref. Bonds (ReTRAC - Reno Transportation Rail Access Corridor Project), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 6/1/2031 |  | 1000 | 1103 |
| City of Reno, Sales Tax Rev. Ref. Bonds (ReTRAC - Reno Transportation Rail Access Corridor Project), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 6/1/2035 |  | 1000 | 1086 |
| City of Sparks, Nevada Tourism Improvement Dist. No. 1 (Legends at Sparks Marina), Sales Tax Anticipation Rev. Ref. Bonds, Series 2019-A, 2.50% 6/15/2024<sup>1</sup> |  | 1500 | 1464 |
| County of Washoe and Cities of Reno and Sparks, Truckee Meadows Water Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2023 |  | 2000 | 2022 |
| County of Washoe and Cities of Reno and Sparks, Truckee Meadows Water Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2024 |  | 2000 | 2074 |
| County of Washoe and Cities of Reno and Sparks, Truckee Meadows Water Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2028 |  | 4000 | 4463 |
| County of Washoe and Cities of Reno and Sparks, Truckee Meadows Water Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2029 |  | 1000 | 1113 |
| County of Washoe and Cities of Reno and Sparks, Truckee Meadows Water Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2030 |  | 1000 | 1110 |
| County of Washoe, Reno-Sparks Convention and Visitors Auth., Limited Tax G.O. Rev. Ref. Bonds, Series 2021, 5.00% 7/1/2028 |  | 3500 | 3993 |
|  |  |  | **252992** |
| **New Hampshire 0.97%** |  |  |  |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2031 |  | 1250 | 1325 |
| Health and Education Facs. Auth., Rev. Bonds (Kendal at Hanover Issue), Series 2016, 5.00% 10/1/2046 |  | 1000 | 1004 |
| Health and Education Facs. Auth., Rev. Bonds (Southern New Hampshire University), Series 2017, 5.00% 1/1/2042 (preref. 1/1/2024) |  | 1750 | 1791 |

---

American Funds Tax-Exempt Funds 159

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Hampshire (continued)** |  |  |  |
| Health and Education Facs. Auth., Rev. Bonds (Southern New Hampshire University), Series 2017, 5.00% 1/1/2047 (preref. 1/1/2024) | USD | 5500 | $5628 |
| Health and Education Facs. Auth., Rev. Bonds (University System of New Hampshire), Series 2015, 5.00% 7/1/2032 |  | 2565 | 2719 |
| Health and Education Facs. Auth., Rev. Bonds (University System of New Hampshire), Series 2015, 5.00% 7/1/2033 |  | 3740 | 3952 |
| Housing Fin. Auth., Multi Family Housing Rev. Bonds, Series 2021-3, 2.60% 7/1/2051 |  | 1500 | 1036 |
| Housing Fin. Auth., Single Family Mortgage Rev. Bonds, Series 2023-A, 6.00% 7/1/2053 |  | 1160 | 1294 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, 4.00% 8/15/2037 |  | 935 | 941 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, 4.00% 8/15/2038 |  | 1000 | 1001 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, 4.00% 8/15/2039 |  | 1100 | 1087 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, 4.00% 8/15/2040 |  | 1050 | 1022 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, 4.00% 8/15/2041 |  | 1000 | 966 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, Assured Guaranty Municipal insured, 3.00% 8/15/2046 |  | 10145 | 8137 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, Assured Guaranty Municipal insured, 3.00% 8/15/2051 |  | 3390 | 2582 |
| National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 1/20/2034 |  | 57244 | 57872 |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class A, 4.375% 9/20/2036 |  | 61334 | 61534 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class A, 4.00% 10/20/2036 |  | 47515 | 46077 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-B, 4.625% 11/1/2042<sup>1</sup> |  | 8000 | 7189 |
| National Fin. Auth., Rev. Bonds (The Lawrenceville School Project), Series 2021-A, 4.00% 7/1/2051 |  | 6855 | 6745 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living, Inc.), Series 2021, 4.00% 1/1/2041 |  | 2725 | 2361 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living, Inc.), Series 2021, 4.00% 1/1/2051 |  | 3000 | 2435 |
|  |  |  | **218698** |
| **New Jersey 1.86%** |  |  |  |
| Atlantic City, Tax Appeal Rev. Ref. Bonds, Series 2017-A, BAM insured, 5.00% 3/1/2037 |  | 750 | 800 |
| County of Camden, Improvement Auth., Health Care Redev. Project, Rev. Ref. Bonds (Cooper Health System Obligated Group Issue), Series 2014, 5.00% 2/15/2027 |  | 1500 | 1520 |
| County of Camden, Improvement Auth., Health Care Redev. Project, Rev. Ref. Bonds (Cooper Health System Obligated Group Issue), Series 2014, 5.00% 2/15/2032 |  | 3000 | 3034 |
| County of Camden, Improvement Auth., Health Care Redev. Project, Rev. Ref. Bonds (Cooper Health System Obligated Group Issue), Series 2014, 5.00% 2/15/2034 |  | 1000 | 1011 |
| Casino Reinvestment Dev. Auth., Luxury Tax Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 11/1/2028 |  | 2690 | 2799 |
| Econ. Dev. Auth., Motor Vehicle Surcharges Rev. Bonds (Special Needs Housing Program), Capital Appreciation Bonds, Series 2007-B, Assured Guaranty insured, 0% 7/1/2026 |  | 2085 | 1881 |
| Econ. Dev. Auth., Rev. Bonds (Provident Group - Kean Properties, LLC - Kean University Student Housing Project), Series 2017-A, 5.00% 1/1/2050 |  | 590 | 554 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2028 |  | 950 | 1034 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2030 |  | 1500 | 1624 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2031 |  | 1000 | 1080 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2037 |  | 3250 | 3408 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2042 |  | 6000 | 6216 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing Project), Series 2015-A, 5.00% 1/1/2048 |  | 4000 | 3741 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2027 |  | 1000 | 1099 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2029 |  | 2000 | 2188 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2033 |  | 1500 | 1621 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2018-EEE, 5.00% 6/15/2038 |  | 2000 | 2316 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2016-AAA, 5.00% 6/15/2041 |  | 600 | 620 |

---

160 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Jersey (continued)** |  |  |  |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2021-QQQ, 4.00% 6/15/2046 | USD | 2080 | $2001 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2015-XX, 5.00% 6/15/2025 |  | 7500 | 7893 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2014-PP, 5.00% 6/15/2027 (preref. 6/15/2024) |  | 1525 | 1580 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2013-I, (SIFMA Municipal Swap Index + 1.60%) 3.26% 3/1/2028<sup>2</sup> |  | 5000 | 5000 |
| Econ. Dev. Auth., Transportation Project Sublease Rev. Bonds (New Jersey Transit Corp. Projects), Series 2017-A, 5.00% 11/1/2027 |  | 1185 | 1311 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2033 |  | 1500 | 1640 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2034 |  | 3540 | 3852 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 7/1/2035 |  | 200 | 233 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 7/1/2036 |  | 600 | 691 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 7/1/2037 |  | 600 | 685 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 7/1/2038 |  | 750 | 853 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Ramapo College of New Jersey Issue), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 7/1/2039 |  | 640 | 656 |
| Educational Facs. Auth., Rev. and Rev. Ref. Bonds (Stockton University Issue), Series 2016-A, BAM insured, 5.00% 7/1/2027 |  | 1125 | 1204 |
| Educational Facs. Auth., Rev. Bonds (Stevens Institute of Technology Issue), Series 2017-A, 5.00% 7/1/2030 |  | 2555 | 2739 |
| Educational Facs. Auth., Rev. Bonds (Stevens Institute of Technology Issue), Series 2017-A, 5.00% 7/1/2031 |  | 2740 | 2933 |
| Educational Facs. Auth., Rev. Green Bonds (Stevens Institute of Technology Issue), Series 2020-A, 5.00% 7/1/2045 |  | 3500 | 3643 |
| Educational Facs. Auth., Rev. Ref. Bonds (Kean University Issue), Series 2015-H, Assured Guaranty Municipal insured, 5.00% 7/1/2027 |  | 1865 | 1971 |
| Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (Trinitas Regional Medical Center Obligated Group Issue), Series 2017-A, 5.00% 7/1/2025 (escrowed to maturity) |  | 1000 | 1060 |
| Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (Trinitas Regional Medical Center Obligated Group Issue), Series 2017-A, 5.00% 7/1/2026 (escrowed to maturity) |  | 1000 | 1087 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (AtlantiCare Health System Obligated Group Issue), Series 2021, 5.00% 7/1/2034 |  | 1375 | 1589 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (AtlantiCare Health System Obligated Group Issue), Series 2021, 4.00% 7/1/2035 |  | 750 | 789 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (AtlantiCare Health System Obligated Group Issue), Series 2021, 3.00% 7/1/2038 |  | 2500 | 2220 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (AtlantiCare Health System Obligated Group Issue), Series 2021, 3.00% 7/1/2039 |  | 2000 | 1765 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (RWJ Barnabas Health Obligated Group Issue), Series 2021-A, 4.00% 7/1/2051 |  | 1500 | 1464 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (St. Joseph's Healthcare System Obligated Group Issue), Series 2016, 5.00% 7/1/2031 |  | 500 | 522 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (St. Joseph's Healthcare System Obligated Group Issue), Series 2016, 5.00% 7/1/2035 |  | 500 | 514 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Valley Health System Obligated Group), Series 2019, 4.00% 7/1/2035 |  | 1000 | 1012 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Valley Health System Obligated Group), Series 2019, 4.00% 7/1/2036 |  | 1000 | 1010 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Valley Health System Obligated Group), Series 2019, 4.00% 7/1/2037 |  | 1000 | 1008 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Valley Health System Obligated Group), Series 2019, 4.00% 7/1/2038 |  | 1250 | 1258 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Valley Health System Obligated Group), Series 2019, 4.00% 7/1/2044 |  | 3000 | 2949 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2035 |  | 1250 | 1358 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2037 |  | 1000 | 1075 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (Hackensack Meridian Health Obligated Group Issue), Series 2017-A, 5.00% 7/1/2039 |  | 2500 | 2666 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series 2016-A, 5.00% 7/1/2031 |  | 2905 | 3143 |
| Health Care Facs. Fncg. Auth., Rev. Ref. Bonds (RWJ Barnabas Health Obligated Group Issue), Series 2016-A, 5.00% 7/1/2033 |  | 7000 | 7545 |
| Housing and Mortgage Fin. Agcy., Multi Family Conduit Rev. Bonds (Browns Woods Apartments Project), Series 2021-A, 1.25% 12/1/2024 (put 12/1/2023) |  | 3030 | 2988 |

---

American Funds Tax-Exempt Funds 161

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Jersey (continued)** |  |  |  |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2018-A, 4.50% 10/1/2048 | USD | 22070 | $22642 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050 |  | 14110 | 14543 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-E, 3.50% 4/1/2051 |  | 12780 | 12803 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-H, 3.00% 10/1/2052 |  | 27905 | 27398 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2022-I, 5.00% 10/1/2053 |  | 12605 | 13452 |
| Rutgers State University, G.O. Rev. Ref. Bonds, Series 2009-F, 5.00% 5/1/2028 |  | 3500 | 3523 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, 4.625% 11/1/2047 |  | 3390 | 3454 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, BAM insured, 5.25% 11/1/2052 |  | 4000 | 4413 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2014-A, 5.00% 11/1/2030 |  | 1010 | 1038 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2014-A, 5.00% 11/1/2039 |  | 4750 | 4789 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2024 |  | 4220 | 4313 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2025 |  | 3330 | 3456 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-B, 3.20% 6/1/2027 |  | 25 | 25 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2029 |  | 1575 | 1703 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2030 |  | 5000 | 5406 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.00% 6/1/2033 |  | 5000 | 5374 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.25% 6/1/2046 |  | 3600 | 3763 |
| Transportation Trust Fund Auth., Federal Highway Reimbursement Rev. Ref. Bonds, Series 2018-A, 5.00% 6/15/2030 |  | 3500 | 3756 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 5.00% 6/15/2035 |  | 500 | 564 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-AA, 5.00% 6/15/2037 |  | 1000 | 1069 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-AA, 5.00% 6/15/2037 |  | 5000 | 5516 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2040 |  | 1000 | 998 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2041 |  | 1500 | 1485 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2042 |  | 6500 | 6376 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 4.00% 6/15/2044 |  | 535 | 520 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 5.00% 6/15/2044 |  | 1000 | 1044 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2045 |  | 5000 | 4828 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 5.00% 6/15/2045 |  | 2310 | 2438 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2046 |  | 8295 | 7979 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-AA, 5.00% 6/15/2046 |  | 2500 | 2606 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 3.00% 6/15/2050 |  | 13010 | 9907 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 3.00% 6/15/2050 |  | 11500 | 8709 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2050 |  | 12000 | 11427 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2006-A, Assured Guaranty Municipal insured, 5.50% 12/15/2023 |  | 5000 | 5123 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2006-A, Assured Guaranty Municipal insured, 5.50% 12/15/2023 |  | 2985 | 3056 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2004-A, FGIC-National insured, 5.75% 6/15/2025 |  | 5580 | 5973 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2039 |  | 3100 | 3110 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2019-A, 5.00% 12/15/2039 |  | 1000 | 1065 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2040 |  | 5000 | 4989 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2042 |  | 1025 | 1005 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, AMBAC insured, 0% 12/15/2025 |  | 6585 | 6056 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, AMBAC insured, 0% 12/15/2026 |  | 3500 | 3121 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, National insured, 0% 12/15/2027 |  | 10650 | 9189 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-A, BAM insured, 0% 12/15/2027 |  | 3785 | 3291 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-A, 0% 12/15/2030 |  | 8620 | 6621 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, National insured, 0% 12/15/2031 |  | 9000 | 6661 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, 0% 12/15/2032 |  | 2500 | 1760 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, Assured Guaranty Municipal insured, 0% 12/15/2033 |  | 20300 | 13823 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, Assured Guaranty Municipal insured, 0% 12/15/2034 |  | 16880 | 10895 |

---

162 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Jersey (continued)** |  |  |  |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2008-A, 0% 12/15/2037 | USD | 3000 | $1599 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, BAM Insured, 0% 12/15/2038 |  | 7965 | 4127 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, 0% 12/15/2039 |  | 1500 | 713 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-A, BAM insured, 0% 12/15/2040 |  | 30765 | 13753 |
| Turnpike Auth., Turnpike Rev. Bonds, Series 2020-D, 5.00% 1/1/2028 |  | 2175 | 2356 |
|  |  |  | **422056** |
| **New Mexico 0.52%** |  |  |  |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan and Four Corners Projects), Series 2016-B, 2.15% 4/1/2033 |  | 1000 | 840 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-C, 1.15% 6/1/2040 (put 6/1/2024) |  | 12000 | 11595 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan Project), Series 2010-E, 1.15% 6/1/2040 (put 6/1/2024) |  | 1750 | 1691 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2017-A, 4.00% 8/1/2035 |  | 2900 | 2981 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2017-A, 4.00% 8/1/2037 |  | 4120 | 4194 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2017-A, 4.00% 8/1/2039 |  | 5000 | 5058 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2015-A, 5.00% 8/1/2044 (preref. 8/1/2025) |  | 1350 | 1435 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2019-A, 5.00% 8/1/2044 |  | 5860 | 6258 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2017-A, 5.00% 8/1/2046 |  | 4000 | 4216 |
| Hospital Equipment Loan Council, Hospital System Rev. Bonds (Presbyterian Healthcare Services), Series 2019-B, 5.00% 8/1/2049 (put 8/1/2025) |  | 5000 | 5269 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2017-B-1, Class I, 3.75% 9/1/2048 |  | 1955 | 1965 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-A-1, Class I, 4.00% 1/1/2049 |  | 5465 | 5527 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-B-1, Class I, 4.00% 1/1/2049 |  | 4670 | 4721 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-C, Class I, 4.00% 1/1/2049 |  | 1395 | 1411 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2018-D, Class I, 4.25% 7/1/2049 |  | 3775 | 3841 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-D, Class I, 3.75% 1/1/2050 |  | 4175 | 4208 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-A-1, Class I, 4.25% 1/1/2050 |  | 845 | 861 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-F-1, Class I, 3.50% 7/1/2050 |  | 11050 | 11065 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2019-C-1, Class I, 4.00% 7/1/2050 |  | 920 | 933 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2020-A, Class I, 3.50% 1/1/2051 |  | 3370 | 3375 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-A, Class I, 3.00% 1/1/2052 |  | 4360 | 4293 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-C, Class I, 3.00% 1/1/2052 |  | 1885 | 1855 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-D, Class I, 3.00% 7/1/2052 |  | 19485 | 19163 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2022-A, Class I, 3.00% 3/1/2053 |  | 4895 | 4837 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2022-D, Class I, 5.25% 3/1/2053 |  | 2155 | 2343 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2023-A, Class I, 5.75% 3/1/2054 |  | 4000 | 4476 |
|  |  |  | **118411** |
| **New York 11.68%** |  |  |  |
| Town of Amherst Dev. Corp., Student Housing Fac. Rev. Ref. Bonds (UBF Faculty-Student Housing Corp. - Greiner and Hadley Rev. Ref. Projects at SUNY Buffalo), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 1460 | 1632 |
| Town of Amherst Dev. Corp., Student Housing Fac. Rev. Ref. Bonds (UBF Faculty-Student Housing Corp. - Greiner and Hadley Rev. Ref. Projects at SUNY Buffalo), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 10/1/2031 |  | 1055 | 1178 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2026 |  | 2670 | 2754 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2027 |  | 5975 | 6178 |

---

American Funds Tax-Exempt Funds 163

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2028 | USD | 8085 | $8345 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2030 |  | 5840 | 6006 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 4.00% 7/15/2032 |  | 1035 | 1075 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 4.00% 7/15/2033 |  | 1085 | 1125 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 4.00% 7/15/2034 |  | 1000 | 1035 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2042 |  | 70655 | 70653 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 3.00% 7/15/2043 |  | 4260 | 3372 |
| Broome County Local Dev. Corp., Rev. Bonds (United Health Services Hospitals, Inc. Project), Series 2020, Assured Guaranty Municipal insured, 4.00% 4/1/2050 |  | 750 | 710 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Grand Concourse Academy Charter School Project), Series 2022-A, 5.00% 7/1/2042 |  | 600 | 620 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Grand Concourse Academy Charter School Project), Series 2022-A, 5.00% 7/1/2052 |  | 725 | 739 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Grand Concourse Academy Charter School Project), Series 2022-A, 5.00% 7/1/2056 |  | 550 | 556 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2037 |  | 925 | 504 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2038 |  | 1390 | 717 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2039 |  | 2300 | 1119 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2045 |  | 1000 | 353 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-A, 0% 11/15/2054 |  | 24390 | 5285 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-A, BAM insured, 0% 11/15/2054 |  | 1965 | 467 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-A, 0% 11/15/2055 |  | 6000 | 1235 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2056 |  | 3500 | 707 |
| Dormitory Auth., Mortgage Hospital Rev. Bonds (Maimonides Medical Center), Series 2020, FHA insured, 4.00% 8/1/2043 |  | 750 | 762 |
| Dormitory Auth., Rev. Bonds (Icahn School of Medicine at Mount Sinai), Series 2015-A, 5.00% 7/1/2033 |  | 7500 | 7841 |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 7/1/2031 |  | 1255 | 1343 |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 7/1/2032 |  | 2250 | 2404 |
| Dormitory Auth., Rev. Bonds (New School), Series 2022-A, 5.00% 7/1/2041 |  | 1000 | 1079 |
| Dormitory Auth., Rev. Bonds (New York University), Series 2018-A, 5.00% 7/1/2031 |  | 1000 | 1140 |
| Dormitory Auth., Rev. Bonds (New York University), Series 2018-A, 5.00% 7/1/2036 |  | 1500 | 1665 |
| Dormitory Auth., Rev. Bonds (New York University), Series 2018-A, 5.00% 7/1/2038 |  | 2000 | 2205 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2031<sup>1</sup> |  | 500 | 510 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2019-A, 4.00% 7/1/2038 |  | 1070 | 1085 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2019-A, 4.00% 7/1/2043 |  | 1200 | 1200 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2019-A, 4.00% 7/1/2049 |  | 2625 | 2581 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (Education), Series 2014-C, FHA insured, 5.00% 3/15/2024 (escrowed to maturity) |  | 5510 | 5677 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2014-A, 5.00% 2/15/2030 |  | 2500 | 2570 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-A, 5.00% 2/15/2032 |  | 1500 | 1657 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2015-A, 5.00% 3/15/2034 |  | 4390 | 4611 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-B, 5.00% 2/15/2035 |  | 17005 | 18719 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2037 |  | 1685 | 1874 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2/15/2038 |  | 4000 | 4070 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2/15/2039 |  | 1775 | 1799 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 2/15/2039 |  | 1000 | 1064 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 4.00% 3/15/2039 |  | 5000 | 5077 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2/15/2040 |  | 12475 | 12553 |

---

164 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2018-A, 5.00% 3/15/2040 | USD | 2000 | $2167 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2040 |  | 6135 | 6724 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2041 |  | 43585 | 37410 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2041 |  | 3000 | 3272 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 5.00% 3/15/2041 |  | 5000 | 5619 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2042 |  | 16375 | 13925 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 4.00% 3/15/2042 |  | 1170 | 1171 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 4.00% 3/15/2042 |  | 12350 | 12364 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2042 |  | 6860 | 7456 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2043 |  | 20000 | 19990 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2043 |  | 6000 | 6511 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2044 |  | 10000 | 10831 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2045 |  | 5000 | 4957 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2046 |  | 1300 | 1403 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2/15/2047 |  | 30640 | 30193 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2047 |  | 11000 | 10839 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2047 |  | 15500 | 16703 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2048 |  | 5000 | 4916 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 4.00% 3/15/2048 |  | 20000 | 19663 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2/15/2049 |  | 20075 | 19714 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2022-A, 4.00% 3/15/2049 |  | 12280 | 12058 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2017-B, 5.00% 3/15/2033 |  | 4000 | 4385 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2034 |  | 10000 | 11229 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2014-A, 5.00% 3/15/2038 |  | 3690 | 3780 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2040 |  | 1035 | 1119 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2045 |  | 1480 | 1585 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 3/15/2048 |  | 1200 | 1294 |
| Dutchess County Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 4.00% 7/1/2041 |  | 1250 | 1155 |
| Dutchess County Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 5.00% 7/1/2046 |  | 675 | 683 |
| County of Erie, Industrial Dev. Agcy., School Fac. Rev. Ref. Bonds (City School Dist. of the City of Buffalo Project), Series 2013-A, 5.00% 5/1/2026 |  | 5000 | 5029 |
| County of Erie, Industrial Dev. Agcy., School Fac. Rev. Ref. Bonds (City School Dist. of the City of Buffalo Project), Series 2013-A, 5.00% 5/1/2027 |  | 3000 | 3018 |
| Genesee County Funding Corp., Rev. Bonds (Rochester Regional Health Project), Series 2022-A, 5.25% 12/1/2052 |  | 690 | 720 |
| Housing Fin. Agcy., 15 Hudson Yards Housing Rev. Bonds, Series 2020-A, 1.65% 5/15/2039 |  | 6739 | 4956 |
| Housing Fin. Agcy., Affordable Housing Rev. Bonds, Series 2017-M, 3.65% 11/1/2042 |  | 1250 | 1145 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-I, 1.75% 5/1/2024 |  | 1770 | 1742 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-J, 0.75% 5/1/2025 |  | 5000 | 4779 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-2, 0.75% 11/1/2025 |  | 6000 | 5537 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-M-2, 0.75% 11/1/2025 |  | 1500 | 1395 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 1.10% 5/1/2026 |  | 1000 | 926 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-1, 1.65% 5/1/2030 |  | 1135 | 1005 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-P, 2.60% 11/1/2034 |  | 2260 | 2020 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-E, 2.00% 11/1/2035 |  | 1060 | 851 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-L-1, 2.10% 11/1/2035 |  | 4100 | 3349 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2020-M-1, 2.10% 11/1/2035 |  | 5900 | 4873 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2017-D, 3.95% 11/1/2037 |  | 1000 | 1002 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-D-1, 2.55% 11/1/2046 |  | 4085 | 2945 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-E-1, 2.65% 11/1/2051 |  | 4965 | 3421 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-H, 3.25% 11/1/2052 |  | 1105 | 876 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-D-2, 0.65% 11/1/2056 (put 11/1/2025) |  | 3140 | 2913 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-1, 2.875% 11/1/2056 |  | 2000 | 1393 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.00% 11/1/2061 (put 11/1/2026) |  | 5500 | 5056 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-K-2, 1.00% 11/1/2061 (put 11/1/2026) |  | 2755 | 2539 |
| Hudson Yards Infrastructure Corp., Rev. Green Bonds, Series 2022-A, 2.75% 2/15/2047 |  | 3360 | 2479 |
| Town of Huntington Local Dev. Corp., Rev. Bonds (Gurwin Independent Housing, Inc. / Fountaingate Gardens Project), Series 2021-C, 3.00% 7/1/2025 |  | 180 | 174 |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds, Series 2021-WTC-1, 3.00% 2/15/2042 |  | 5000 | 4186 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.10% 11/15/2032 |  | 5680 | 4934 |

---

American Funds Tax-Exempt Funds 165

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.20% 11/15/2033 | USD | 10390 | $8966 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 3.00% 11/15/2051 |  | 10865 | 8104 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2021, 1.00% 9/1/2025 |  | 22320 | 20714 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2003-C, Assured Guaranty insured, 5.25% 9/1/2029 |  | 4000 | 4693 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2016-B, 5.00% 9/1/2032 |  | 6000 | 6502 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-C, 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 5765 | 5763 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C, (1-month USD-LIBOR x 0.70 + 0.75%) 3.808% 5/1/2033 (put 10/1/2023)<sup>2</sup> |  | 24820 | 24810 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-A, 5.00% 9/1/2034 |  | 1500 | 1550 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2018, 5.00% 9/1/2034 |  | 5000 | 5635 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2020-A, 5.00% 9/1/2035 |  | 1200 | 1380 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2020-A, 5.00% 9/1/2036 |  | 1500 | 1708 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2018, 5.00% 9/1/2037 |  | 2000 | 2199 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2020-A, 5.00% 9/1/2037 |  | 1000 | 1129 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2018, 5.00% 9/1/2038 |  | 1000 | 1096 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2020-A, 5.00% 9/1/2038 |  | 1450 | 1628 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2014-A, 5.00% 9/1/2039 |  | 3995 | 4105 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2021-A, 3.00% 9/1/2040 |  | 1740 | 1544 |
| Metropolitan Transportation Auth., Dedicated Tax Fund Green Bonds, Series 2016-B-1, 5.00% 11/15/2036 |  | 5000 | 5379 |
| Metropolitan Transportation Auth., Hudson Rail Yards Trust Obligations, Series 2016-A, 5.00% 11/15/2051 |  | 7500 | 7500 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-C, 5.00% 11/15/2024 |  | 410 | 424 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-1, 5.00% 11/15/2035 |  | 1625 | 1657 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-C-1, 5.00% 11/15/2035 |  | 6000 | 6150 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-1, 5.00% 11/15/2036 |  | 2830 | 2882 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-1, 5.00% 11/15/2040 |  | 1000 | 1007 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2021-A-2, 4.00% 11/15/2041 |  | 2000 | 1879 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2017-D, 4.00% 11/15/2042 |  | 13360 | 12424 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2021-A-2, 4.00% 11/15/2042 |  | 17500 | 16280 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2021-A-2, 4.00% 11/15/2043 |  | 7330 | 6791 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-B, 5.00% 11/15/2044 |  | 11000 | 11040 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-1, 5.00% 11/15/2045 |  | 22845 | 22974 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030) |  | 8450 | 9241 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2016-A-1, 5.00% 11/15/2027 |  | 1065 | 1116 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2017-A-1, 5.00% 11/15/2032 |  | 1500 | 1574 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-A-1, 4.00% 11/15/2040 |  | 6000 | 5691 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-1, 5.00% 11/15/2043 |  | 3000 | 3117 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-C, Assured Guaranty Municipal insured, 4.00% 11/15/2045 |  | 3550 | 3508 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-A-1, 4.00% 11/15/2045 |  | 1185 | 1083 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2021-A-1, 4.00% 11/15/2045 |  | 3955 | 3616 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D, 5.00% 11/15/2045 |  | 1500 | 1551 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2021-A-1, 4.00% 11/15/2046 |  | 20975 | 19049 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-2, 4.00% 11/15/2047 |  | 10500 | 9472 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-2, 4.00% 11/15/2048 |  | 2225 | 1999 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-3, 4.00% 11/15/2049 |  | 20555 | 18404 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-B, 4.00% 11/15/2050 |  | 7525 | 6716 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 5.00% 11/15/2050 |  | 10500 | 10770 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-B, 5.00% 11/15/2052 |  | 3930 | 4014 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-A-1, BAM insured, 4.00% 11/15/2053 |  | 12320 | 12064 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 5.25% 11/15/2055 |  | 2700 | 2807 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2016-A-1, 5.25% 11/15/2056 |  | 2500 | 2534 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2015-C-1, 5.00% 11/15/2026 |  | 4535 | 4699 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2015-C-1, 5.00% 11/15/2027 |  | 2145 | 2214 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2015-F, 5.00% 11/15/2027 |  | 2230 | 2301 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2016-D, 5.00% 11/15/2030 |  | 2720 | 2849 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2020-E, 5.00% 11/15/2030 |  | 5000 | 5450 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-A-1, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 3.431% 11/1/2032 (put 4/1/2024)<sup>2</sup> |  | 5000 | 5019 |

---

166 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2002-D-2-B, Assured Guaranty Municipal insured, (USD-SOFR x 0.67 + 0.55%) 3.431% 11/1/2032 (put 4/1/2024)<sup>2</sup> | USD | 4215 | $4231 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2017-D, 5.00% 11/15/2033 |  | 2225 | 2351 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2017-D, 5.00% 11/15/2035 |  | 4885 | 5132 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2016-B, 4.00% 11/15/2036 |  | 1010 | 986 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2017-D, 4.00% 11/15/2046 |  | 5100 | 4632 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2025 |  | 4500 | 4733 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 11/15/2026 |  | 1000 | 1066 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2026 |  | 10000 | 10655 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028 |  | 5695 | 6057 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2029 |  | 2805 | 2981 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 5.00% 11/15/2029 |  | 4750 | 5161 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 11/15/2030 |  | 1000 | 1050 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2030 |  | 1000 | 1062 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2031 |  | 1000 | 1060 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 5.00% 11/15/2032 |  | 2920 | 3199 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2033 |  | 1000 | 1057 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 11/15/2034 |  | 2500 | 2514 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2034 |  | 2335 | 2462 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 11/15/2035 |  | 5000 | 4968 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 11/15/2036 |  | 3000 | 2941 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 11/15/2038 |  | 1000 | 968 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 4.00% 11/15/2045 |  | 5100 | 4663 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2019-A-2, 5.00% 11/15/2045 |  | 8000 | 8218 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Capital Appreciation Bonds, Series 2017-C-2, 0% 11/15/2027 |  | 1500 | 1280 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Capital Appreciation Bonds, Series 2017-C-2, 0% 11/15/2029 |  | 3490 | 2753 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Capital Appreciation Bonds, Series 2017-C-2, 0% 11/15/2032 |  | 12315 | 8514 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 205, 4.00% 4/1/2040 |  | 900 | 907 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 48, 2.625% 4/1/2041 |  | 40 | 40 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 10/1/2044 |  | 2110 | 2108 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 10/1/2045 |  | 12200 | 12032 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 200, 3.50% 10/1/2045 |  | 3000 | 2997 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 195, 4.00% 10/1/2046 |  | 2635 | 2648 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 54, 4.00% 4/1/2047 |  | 6085 | 6125 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047 |  | 3515 | 3566 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 208, 4.00% 10/1/2048 |  | 13505 | 13612 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 223, 3.50% 4/1/2049 |  | 1945 | 1942 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 227, 3.25% 10/1/2050 |  | 7240 | 7198 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051 |  | 5135 | 5109 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 10/1/2052 |  | 10695 | 10722 |
| County of Nassau, G.O. General Improvement Bonds, Series 2016-B, 5.00% 10/1/2023 |  | 510 | 519 |
| County of Nassau, G.O. General Improvement Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 7/1/2035 |  | 2250 | 2499 |
| County of Nassau, G.O. General Improvement Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 7/1/2042 |  | 2000 | 2138 |
| New York City G.O. Bonds, Series 2013-H, 5.00% 8/1/2023 |  | 2625 | 2659 |
| New York City G.O. Bonds, Series 2013-J, 5.00% 8/1/2023 |  | 550 | 557 |
| New York City G.O. Bonds, Series 2015-A, 5.00% 8/1/2024 |  | 2750 | 2858 |
| New York City G.O. Bonds, Series 2016-A, 5.00% 8/1/2026 |  | 4500 | 4807 |
| New York City G.O. Bonds, Series 2017-C, 5.00% 8/1/2026 |  | 2500 | 2742 |
| New York City G.O. Bonds, Series 2018-A, 5.00% 8/1/2026 |  | 5000 | 5484 |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2026 |  | 1500 | 1645 |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2028 |  | 1000 | 1053 |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2029 |  | 4800 | 5445 |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2030 |  | 9000 | 9471 |
| New York City G.O. Bonds, Series 2015-D, 5.00% 8/1/2030 |  | 1000 | 1052 |
| New York City G.O. Bonds, Series 2017-A-1, 5.00% 8/1/2030 |  | 815 | 884 |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2030 |  | 8075 | 9147 |
| New York City G.O. Bonds, Series 2006-I-A, 5.00% 4/1/2031 |  | 2000 | 2396 |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2031 |  | 3620 | 4093 |

---

American Funds Tax-Exempt Funds 167

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| New York City G.O. Bonds, Series 2020-C-1, 5.00% 8/1/2031 | USD | 225 | $269 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 11/1/2031 |  | 5000 | 5996 |
| New York City G.O. Bonds, Series 2018-E-1, 5.00% 3/1/2032 |  | 2575 | 2912 |
| New York City G.O. Bonds, Series 2006-I-A, 5.00% 4/1/2032 |  | 2000 | 2389 |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2032 |  | 3500 | 3669 |
| New York City G.O. Bonds, Series 2017-B-1, 5.00% 12/1/2032 |  | 1500 | 1636 |
| New York City G.O. Bonds, Series 2013-F-1, 5.00% 3/1/2033 (preref. 3/1/2023) |  | 980 | 982 |
| New York City G.O. Bonds, Series 2006-I-A, 5.00% 4/1/2033 |  | 2000 | 2375 |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2033 |  | 1000 | 1046 |
| New York City G.O. Bonds, Series 2019-E, 5.00% 8/1/2033 |  | 1000 | 1147 |
| New York City G.O. Bonds, Series 2022-C, 5.00% 8/1/2033 |  | 485 | 592 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2033 |  | 1130 | 1312 |
| New York City G.O. Bonds, Series 2008-L-5, 5.00% 4/1/2034 |  | 3710 | 4395 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2034 |  | 1000 | 1188 |
| New York City G.O. Bonds, Series 2017-B-1, 5.00% 12/1/2034 |  | 1000 | 1083 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2035 |  | 4510 | 5287 |
| New York City G.O. Bonds, Series 2022-B-1, 5.00% 8/1/2035 |  | 2660 | 3165 |
| New York City G.O. Bonds, Series 2018-B-1, 5.00% 10/1/2035 |  | 2950 | 3272 |
| New York City G.O. Bonds, Series 2006-J-2, Assured Guaranty Municipal insured, 3.10% 6/1/2036<sup>2</sup> |  | 2625 | 2625 |
| New York City G.O. Bonds, Series 2020-C-1, 5.00% 8/1/2036 |  | 4000 | 4583 |
| New York City G.O. Bonds, Series 2022-B-1, 5.00% 8/1/2036 |  | 1750 | 2052 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2036 |  | 8750 | 9894 |
| New York City G.O. Bonds, Series 2013-F-1, 5.00% 3/1/2037 |  | 30 | 30 |
| New York City G.O. Bonds, Series 2018-E-1, 5.00% 3/1/2037 |  | 6345 | 6927 |
| New York City G.O. Bonds, Series 2018-F-1, 5.00% 4/1/2037 |  | 2000 | 2186 |
| New York City G.O. Bonds, Series 2017-A-1, 5.00% 8/1/2037 |  | 2000 | 2128 |
| New York City G.O. Bonds, Series 2017-B-1, 5.00% 12/1/2037 |  | 2500 | 2675 |
| New York City G.O. Bonds, Series 2019-D-1, 5.00% 12/1/2037 |  | 5000 | 5507 |
| New York City G.O. Bonds, Series 2020-D-1, 5.00% 3/1/2038 |  | 7500 | 8432 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2038 |  | 7500 | 8387 |
| New York City G.O. Bonds, Series 2017-B-1, 5.00% 12/1/2038 |  | 1500 | 1602 |
| New York City G.O. Bonds, Series 2020-D-1, 5.00% 3/1/2039 |  | 8840 | 9860 |
| New York City G.O. Bonds, Series 2022-D-1, 5.25% 5/1/2039 |  | 1800 | 2101 |
| New York City G.O. Bonds, Series 2020-B-1, 4.00% 10/1/2039 |  | 2000 | 2021 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2039 |  | 6810 | 7567 |
| New York City G.O. Bonds, Series 2020-D-1, 5.00% 3/1/2040 |  | 7000 | 7761 |
| New York City G.O. Bonds, Series 2020-B-1, 4.00% 10/1/2040 |  | 2500 | 2517 |
| New York City G.O. Bonds, Series 2022-B-1, 5.25% 10/1/2040 |  | 3000 | 3495 |
| New York City G.O. Bonds, Series 2020-D-1, 4.00% 3/1/2041 |  | 8000 | 8031 |
| New York City G.O. Bonds, Series 2020-A-1, 5.00% 8/1/2041 |  | 12400 | 13633 |
| New York City G.O. Bonds, Series 2017-B-1, 5.00% 12/1/2041 |  | 1500 | 1594 |
| New York City G.O. Bonds, Series 2020-D-1, 4.00% 3/1/2042 |  | 5000 | 5002 |
| New York City G.O. Bonds, Series 2021-A-1, 4.00% 8/1/2042 |  | 2000 | 2001 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2042 |  | 6000 | 6563 |
| New York City G.O. Bonds, Series 2020-D-1, 5.00% 3/1/2043 |  | 2000 | 2188 |
| New York City G.O. Bonds, Series 2021-F-1, 5.00% 3/1/2043 |  | 4430 | 4896 |
| New York City G.O. Bonds, Series 2022-D-1, 5.25% 5/1/2043 |  | 1195 | 1367 |
| New York City G.O. Bonds, Series 2020-A-1, 5.00% 8/1/2043 |  | 10000 | 10899 |
| New York City G.O. Bonds, Series 2020-B-1, 5.00% 10/1/2043 |  | 5000 | 5460 |
| New York City G.O. Bonds, Series 2022-B-1, 5.25% 10/1/2043 |  | 1500 | 1717 |
| New York City G.O. Bonds, Series 2017-B-1, 4.00% 12/1/2043 |  | 1835 | 1832 |
| New York City G.O. Bonds, Series 2020-D-1, 4.00% 3/1/2044 |  | 5000 | 4968 |
| New York City G.O. Bonds, Series 2015-F-4, 5.00% 6/1/2044 (put 12/1/2025) |  | 1535 | 1613 |
| New York City G.O. Bonds, Series 2021-F-1, 4.00% 3/1/2047 |  | 1755 | 1727 |
| New York City G.O. Bonds, Series 2021-A-1, 5.00% 8/1/2047 |  | 25000 | 27454 |
| New York City G.O. Bonds, Series 2022-B-1, 5.25% 10/1/2047 |  | 10830 | 12262 |
| New York City G.O. Bonds, Series 2020-D-1, 4.00% 3/1/2050 |  | 36370 | 35593 |
| New York City Health and Hospitals Corp., Health System Bonds, Series 2020-A, 5.00% 2/15/2030 |  | 1330 | 1565 |
| New York City Housing Dev. Corp., Housing Impact Green Bonds, Series 2020-A, 2.70% 8/1/2045 |  | 5000 | 3789 |
| New York City Housing Dev. Corp., Housing Impact Green Bonds, Series 2020-C, 2.75% 2/1/2051 |  | 2000 | 1432 |
| New York City Housing Dev. Corp., Housing Impact Green Bonds, Series 2022-A, 3.25% 8/1/2051 |  | 5050 | 4005 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2/15/2048 |  | 5260 | 5146 |

---

168 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-1, 2.50% 11/1/2051 | USD | 5000 | $3375 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 11/1/2060 (put 7/1/2025) |  | 4980 | 4668 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2020-I-1, 2.10% 11/1/2035 |  | 5000 | 4019 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2017-C-1, 3.55% 11/1/2042 |  | 8000 | 7252 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2017-A-1-A, 3.85% 11/1/2042 |  | 2000 | 1934 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2018-L-2, 2.75% 5/1/2050 (put 12/29/2023) |  | 8725 | 8725 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2019-E-2, 1.75% 5/1/2059 (put 7/3/2023) |  | 7550 | 7495 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2020-I-2, 0.70% 11/1/2060 (put 5/1/2025) |  | 5615 | 5284 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, 2.10% 11/1/2036 |  | 6000 | 4667 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, 2.25% 11/1/2041 |  | 7100 | 5064 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2020-D-1-A, 2.30% 11/1/2045 |  | 2665 | 1818 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2020-H, 2.55% 11/1/2045 |  | 2320 | 1705 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-C-1, 2.40% 11/1/2046 |  | 4050 | 2799 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, 2.40% 11/1/2046 |  | 1000 | 691 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, 2.50% 11/1/2051 |  | 5000 | 3375 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2020-A-1-C, 3.00% 11/1/2055 |  | 3000 | 2188 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-2, 0.60% 5/1/2061 (put 7/1/2025) |  | 6715 | 6278 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Neighborhood Bonds), Series 2020-I-1, 2.55% 11/1/2045 |  | 5000 | 3621 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Neighborhood Bonds), Series 2019-G-1-B, 3.05% 5/1/2050 |  | 10920 | 8465 |
| New York City Industrial Dev. Agcy., PILOT Rev. Bonds (Yankee Stadium Project), Series 2009-A, Assured Guaranty insured, 0% 3/1/2032 |  | 3365 | 2430 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2028 |  | 1000 | 1109 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 1000 | 1145 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 5.00% 1/1/2031 |  | 4250 | 4938 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 4.00% 1/1/2032 |  | 500 | 539 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2033 |  | 500 | 494 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2034 |  | 3150 | 3072 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2037 |  | 4940 | 4410 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2040 |  | 6360 | 5403 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2046 |  | 9380 | 7403 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2039 |  | 5500 | 4768 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2040 |  | 2000 | 1708 |

---

American Funds Tax-Exempt Funds 169

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 3/1/2045 | USD | 9800 | $9794 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 3/1/2045 |  | 2000 | 1893 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2049 |  | 7300 | 5643 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2017-EE, 5.00% 6/15/2033 |  | 4560 | 5057 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-AA-2, 4.00% 6/15/2042 |  | 19910 | 19970 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-BB-2, 4.00% 6/15/2042 |  | 3335 | 3345 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-BB-1, 5.00% 6/15/2044 |  | 4240 | 4731 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2022-EE, 5.00% 6/15/2045 |  | 16500 | 18450 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2017-DD, 5.00% 6/15/2047 |  | 2000 | 2111 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2018-CC-1, 5.00% 6/15/2048 |  | 8000 | 8473 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2018-DD-1, 5.00% 6/15/2048 |  | 1500 | 1598 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2019-DD-1, 5.00% 6/15/2049 |  | 6000 | 6448 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2020-DD-1, 4.00% 6/15/2050 |  | 17800 | 17571 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2020-GG-1, 4.00% 6/15/2050 |  | 9735 | 9610 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-AA-1, 4.00% 6/15/2050 |  | 3930 | 3879 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-BB-1, 4.00% 6/15/2050 |  | 9250 | 9131 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2020-GG-1, 5.00% 6/15/2050 |  | 16310 | 17833 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-AA-1, 4.00% 6/15/2051 |  | 3000 | 2958 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-CC-3, 4.00% 6/15/2051 |  | 3500 | 3451 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2022-CC-1, 5.00% 6/15/2052 |  | 4400 | 4850 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2016-S-1, 5.00% 7/15/2029 |  | 5000 | 5382 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-3, 5.00% 7/15/2033 |  | 4320 | 4900 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-2, 5.00% 7/15/2034 |  | 4000 | 4505 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-4-A, 5.00% 7/15/2034 |  | 4000 | 4505 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-1, 5.00% 7/15/2035 |  | 3295 | 3626 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-4-A, 5.00% 7/15/2035 |  | 3000 | 3301 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2019-S-3, 5.00% 7/15/2035 |  | 5000 | 5577 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2019-S-1, 4.00% 7/15/2037 |  | 5135 | 5248 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-3, 5.00% 7/15/2037 |  | 10000 | 11003 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-4-A, 5.00% 7/15/2037 |  | 19250 | 21181 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2018-S-3, 5.00% 7/15/2038 |  | 4000 | 4384 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2021-S-1-A, 4.00% 7/15/2040 |  | 2000 | 2026 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2019-S-1, 5.00% 7/15/2043 |  | 10000 | 10768 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-C, 5.00% 11/1/2027 |  | 5000 | 5289 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2013-F-1, 5.00% 2/1/2028 |  | 1500 | 1503 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-1, 5.00% 2/1/2031 |  | 5000 | 5245 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-C, 5.00% 11/1/2031 |  | 3750 | 4159 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-B-1, 5.00% 8/1/2033 |  | 10000 | 11073 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-F-1, 5.00% 5/1/2034 |  | 5000 | 5476 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-1, 5.00% 8/1/2034 |  | 8000 | 8498 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 5.00% 11/1/2034 |  | 2500 | 2936 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-A-1, 5.00% 5/1/2035 |  | 1000 | 1075 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-F-1, 5.00% 5/1/2035 |  | 5000 | 5441 |

---

170 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-A-2, 5.00% 8/1/2035 | USD | 10000 | $10929 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-1, 5.00% 8/1/2035 |  | 6000 | 6698 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2035 |  | 5170 | 5426 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2013-F-1, 5.00% 2/1/2036 |  | 1000 | 1002 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 4.00% 5/1/2036 |  | 1200 | 1246 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-1, 5.00% 8/1/2036 |  | 4000 | 4234 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 5.00% 11/1/2036 |  | 2000 | 2295 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 5.00% 2/1/2037 |  | 2000 | 2294 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 4.00% 5/1/2037 |  | 1000 | 1030 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-B-1, 4.00% 8/1/2037 |  | 2800 | 2839 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-1, 5.00% 8/1/2037 |  | 2000 | 2112 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A, 3.00% 11/1/2037 |  | 11000 | 10038 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 5.00% 11/1/2037 |  | 5000 | 5697 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-F-1, 4.00% 2/1/2038 |  | 1875 | 1923 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-B-1, 5.00% 8/1/2038 |  | 2000 | 2143 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-1, 5.00% 8/1/2038 |  | 4750 | 5194 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-D-1, 4.00% 11/1/2038 |  | 3620 | 3714 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-A, 3.00% 11/1/2039 |  | 3500 | 3106 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-B-1, 4.00% 11/1/2039 |  | 2455 | 2493 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2039 |  | 3500 | 3561 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 4.00% 2/1/2040 |  | 4000 | 4042 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 4.00% 5/1/2040 |  | 1000 | 1010 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-A-2, 5.00% 5/1/2040 |  | 36900 | 40573 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2040 |  | 1000 | 1010 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 4.00% 2/1/2041 |  | 8815 | 8865 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 4.00% 5/1/2041 |  | 1000 | 1005 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 5.00% 5/1/2041 |  | 5000 | 5585 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-E-1, 4.00% 2/1/2042 |  | 3000 | 3003 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-C-1, 4.00% 2/1/2042 |  | 5000 | 5006 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-A-3, 4.00% 5/1/2042 |  | 1510 | 1511 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-B-1, 4.00% 8/1/2042 |  | 1350 | 1351 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-B-1, 4.00% 8/1/2042 |  | 22000 | 22025 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-1, 5.00% 8/1/2042 |  | 1500 | 1624 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-C-1, 4.00% 2/1/2043 |  | 12640 | 12617 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-A-3, 4.00% 5/1/2043 |  | 2900 | 2894 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-B-1, 4.00% 11/1/2043 |  | 10000 | 9981 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2043 |  | 7000 | 6986 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-C-1, 4.00% 5/1/2045 |  | 10135 | 10018 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-C-1, 4.00% 5/1/2045 |  | 6500 | 6425 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-B-1, 5.00% 8/1/2045 |  | 3035 | 3239 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2046 |  | 10500 | 10328 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-F-1, 5.00% 2/1/2047 |  | 3660 | 4055 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-D-1, 4.00% 11/1/2047 |  | 1000 | 981 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-C-1, 3.00% 5/1/2048 |  | 6000 | 4839 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-A-1, 4.00% 8/1/2048 |  | 1515 | 1482 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-C-1, 4.00% 2/1/2051 |  | 9615 | 9372 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-F-1, 4.00% 2/1/2051 |  | 2800 | 2729 |
| New York City Trust for Cultural Resources, Rev. Ref. Bonds (Lincoln Center for the Performing Arts, Inc.), Series 2020-A, 4.00% 12/1/2034 |  | 1000 | 1060 |
| County of Onondaga, Trust for Cultural Resources, Rev. Bonds, Series 2019, 5.00% 12/1/2040 |  | 2000 | 2230 |
| County of Onondaga, Trust for Cultural Resources, Rev. Bonds, Series 2019, 4.00% 12/1/2049 |  | 5000 | 4953 |
| Port Auth., Consolidated Bonds, Series 212, 4.00% 9/1/2037 |  | 2000 | 2037 |
| Port Auth., Consolidated Bonds, Series 212, 4.00% 9/1/2038 |  | 4000 | 4056 |
| Port Auth., Consolidated Bonds, Series 212, 4.00% 9/1/2039 |  | 3360 | 3399 |
| Port Auth., Consolidated Bonds, Series 233, 5.25% 8/1/2052 |  | 4000 | 4492 |
| Power Auth., Rev. Bonds, Series 2020-A, 4.00% 11/15/2055 |  | 10670 | 10498 |
| Power Auth., Rev. Bonds, Series 2020-A, 4.00% 11/15/2060 |  | 5450 | 5305 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 5.00% 11/15/2035 |  | 1750 | 2081 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2036 |  | 1105 | 1144 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2037 |  | 1000 | 1027 |

---

American Funds Tax-Exempt Funds 171

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2038 | USD | 2000 | $2048 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2039 |  | 4000 | 4077 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2052 |  | 3000 | 2962 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2061 |  | 36865 | 35893 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 4.00% 12/1/2023 |  | 250 | 250 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 4.00% 12/1/2024 |  | 250 | 251 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 4.00% 12/1/2025 |  | 275 | 276 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-A, 5.00% 12/1/2029 |  | 180 | 188 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% 12/1/2029 |  | 1000 | 1038 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-A, 5.00% 12/1/2034 |  | 165 | 170 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% 12/1/2034 |  | 1000 | 1028 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-A, 5.00% 12/1/2040 |  | 175 | 178 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% 12/1/2040 |  | 1050 | 1066 |
| Thruway Auth., General Rev. Bonds, Series 2020-N, 5.00% 1/1/2034 |  | 5000 | 5765 |
| Thruway Auth., General Rev. Bonds, Series 2020-N, 4.00% 1/1/2047 |  | 7500 | 7344 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.00% 1/1/2032 |  | 5000 | 5321 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2037 |  | 7000 | 7118 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2038 |  | 11260 | 11369 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2039 |  | 4000 | 4026 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.00% 1/1/2041 |  | 3500 | 3657 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2045 |  | 4000 | 3917 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 3.00% 1/1/2046 |  | 900 | 722 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.00% 1/1/2046 |  | 8500 | 8821 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.00% 1/1/2051 |  | 1600 | 1649 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.25% 1/1/2056 |  | 3250 | 3396 |
| Thruway Auth., General Rev. Ref. Bonds, Series 2018-L, 5.00% 1/1/2028 |  | 1500 | 1696 |
| Thruway Auth., General Rev. Ref. Bonds, Series 2018-L, 5.00% 1/1/2029 |  | 2000 | 2254 |
| Thruway Auth., General Rev. Ref. Bonds, Series 2018-L, 5.00% 1/1/2030 |  | 1700 | 1913 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2041 |  | 9225 | 9303 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2050 |  | 2125 | 2091 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2051 |  | 15000 | 14718 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2054 |  | 15885 | 15499 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2056 |  | 20000 | 19429 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2058 |  | 5000 | 4835 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2031 |  | 1200 | 1347 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2032 |  | 2500 | 2764 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2033 |  | 500 | 551 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2034 |  | 2985 | 3262 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2036 |  | 5700 | 6116 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2038 |  | 2125 | 2258 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 4.00% 12/1/2039 |  | 1800 | 1755 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 4.00% 12/1/2041 |  | 5830 | 5557 |

---

172 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2017-A, 5.00% 11/15/2033 | USD | 2395 | $2643 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2017-A, 5.00% 11/15/2034 |  | 960 | 1056 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2017-A, 5.00% 11/15/2035 |  | 1000 | 1094 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 5.00% 11/15/2049 |  | 18000 | 19629 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2021-A, 5.00% 11/15/2051 |  | 14000 | 15295 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2022-A, 4.00% 11/15/2052 |  | 15000 | 14714 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 5.00% 11/15/2054 |  | 9750 | 10573 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2021-A, 5.00% 11/15/2056 |  | 15240 | 16575 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2013-A, 5.00% 11/15/2023 |  | 2500 | 2518 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2005-B-4A, 3.261% 1/1/2032 (put 2/1/2024)<sup>2</sup> |  | 5290 | 5243 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2017-B, 5.00% 11/15/2033 |  | 3000 | 3310 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2021-A-2, 2.00% 5/15/2045 (put 5/15/2024) |  | 500 | 493 |
| Triborough Bridge and Tunnel Auth., Payroll Mobility Tax Rev. Ref. Green Bonds (MTA Bridges and Tunnels), Series 2022-E-2B, 5.00% 11/15/2032 |  | 7925 | 9774 |
| Triborough Bridge and Tunnel Auth., Rev. Ref. Bonds (MTA Bridges and Tunnels), Capital Appreciation Bonds, Series 2013-A, 0% 11/15/2032 |  | 3095 | 2215 |
| City of Troy Capital Resource Corp., Rev. Bonds (Rensselaer Polytechnic Institute Project), Series 2015, 5.00% 8/1/2027 |  | 800 | 846 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2032 |  | 1750 | 1964 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2033 |  | 1250 | 1397 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2034 |  | 1750 | 1940 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2035 |  | 1250 | 1371 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2039 |  | 1500 | 1608 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 4.00% 9/1/2040 |  | 1750 | 1703 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2023 |  | 1205 | 1209 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-A-1, 5.00% 3/15/2024 (preref. 3/15/2023) |  | 1840 | 1846 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-A-2, 5.00% 3/15/2024 |  | 2290 | 2297 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-D, 5.00% 3/15/2024 (preref. 3/15/2023) |  | 2540 | 2547 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2028 |  | 750 | 810 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2029 |  | 1000 | 1078 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2030 |  | 3500 | 3769 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2031 |  | 2250 | 2421 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-C-2, 5.00% 3/15/2031 |  | 5000 | 5587 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2014-A, 5.00% 3/15/2034 |  | 5000 | 5130 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-C-2, 5.00% 3/15/2034 |  | 7500 | 8302 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2035 |  | 1990 | 2132 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-C, 5.00% 3/15/2036 |  | 4500 | 4915 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2037 |  | 1000 | 1097 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2038 |  | 1130 | 1269 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2039 |  | 2500 | 2730 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 3.00% 3/15/2040 |  | 3545 | 3097 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2041 |  | 24165 | 24310 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 3/15/2042 |  | 3100 | 3416 |

---

American Funds Tax-Exempt Funds 173

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2044 | USD | 12000 | $12968 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2044 |  | 5000 | 5487 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2045 |  | 2500 | 2475 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2045 |  | 1445 | 1431 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 3.00% 3/15/2047 |  | 7135 | 5763 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2049 |  | 1120 | 1093 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2049 |  | 15000 | 14635 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2050 |  | 3000 | 2370 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2050 |  | 3000 | 3263 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 5.00% 3/15/2039 |  | 6500 | 7218 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 3.00% 3/15/2040 |  | 12500 | 11096 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 4.00% 3/15/2043 |  | 2000 | 1988 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 4.00% 3/15/2046 |  | 1750 | 1724 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 6/15/2034 |  | 900 | 1102 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2016-B, 5.00% 12/15/2034 |  | 1000 | 1089 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2016-B, 5.00% 12/15/2035 |  | 750 | 814 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 12/15/2038 |  | 5000 | 5484 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 12/15/2039 |  | 3000 | 3515 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 12/15/2041 |  | 16000 | 17358 |
| County of Westchester, Industrial Dev. Agcy., Multi Family Housing Rev. Bonds (Marble Hall - Tuckahoe, LP Project), Series 2021, 0.28% 4/1/2024 (put 4/1/2023) |  | 12985 | 12907 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-D, 2.875% 7/1/2026<sup>1</sup> |  | 3590 | 3468 |
|  |  |  | **2644552** |
| **North Carolina 0.85%** |  |  |  |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2021-A, 3.00% 7/1/2046 |  | 2635 | 2146 |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2022-A, 4.00% 7/1/2047 |  | 10050 | 9994 |
| City of Charlotte, Water and Sewer System Rev. Ref. Bonds, Series 2020, 3.00% 7/1/2039 |  | 3250 | 2999 |
| Eastern Municipal Power Agcy., Power System Rev. Ref. Bonds, Series 1993-B, FGIC-National insured, 6.00% 1/1/2025 (escrowed to maturity) |  | 4725 | 5027 |
| Eastern Municipal Power Agcy., Power System Rev. Ref. Bonds, Series 1993-B, National insured, 6.00% 1/1/2026 (escrowed to maturity) |  | 2500 | 2749 |
| Eastern Municipal Power Agcy., Power System Rev. Ref. Bonds, Series 1993-B, 6.00% 1/1/2026 (escrowed to maturity) |  | 1990 | 2188 |
| G.O. Public Improvement Bonds (Connect NC), Series 2019-B, 2.00% 6/1/2033 |  | 2500 | 2276 |
| City of Goldsboro, Multi Family Housing Rev. Bonds (Grand at Day Point), Series 2021, 0.28% 5/1/2024 (put 5/1/2023) |  | 3110 | 3079 |
| Grant Anticipation Rev. Vehicle Bonds, Series 2015, 5.00% 3/1/2030 |  | 3000 | 3160 |
| Grant Anticipation Rev. Vehicle Bonds, Series 2021, 5.00% 3/1/2033 |  | 1250 | 1490 |
| Grant Anticipation Rev. Vehicle Bonds, Series 2021, 4.00% 3/1/2034 |  | 7000 | 7611 |
| Grant Anticipation Rev. Vehicle Bonds, Series 2021, 4.00% 3/1/2035 |  | 13910 | 14886 |
| Hospital Auth., Health Care Rev. Bonds (Charlotte-Mecklenburg Hospital), Series 2021-D, 5.00% 1/15/2049 (put 12/1/2031) |  | 2400 | 2835 |
| Hospital Auth., Health Care Rev. Ref. Bonds (Charlotte-Mecklenburg Hospital), Series 2018-A, 4.00% 1/15/2038 |  | 1635 | 1661 |
| Hospital Auth., Health Care Rev. Ref. Bonds (Charlotte-Mecklenburg Hospital), Series 2018-A, 4.00% 1/15/2039 |  | 1390 | 1407 |
| Hospital Auth., Health Care Rev. Ref. Bonds (Charlotte-Mecklenburg Hospital), Series 2022-A, 4.00% 1/15/2043 |  | 1565 | 1576 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 44, 2.85% 7/1/2040 |  | 2045 | 1732 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 40, 4.25% 7/1/2047 |  | 7505 | 7631 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 41, 4.00% 1/1/2050 |  | 3140 | 3177 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds, Series 47, 3.00% 7/1/2051 |  | 14730 | 14501 |
| Housing Fin. Agcy., Home Ownership Rev. Bonds (1998 Trust Agreement), Series 49, 6.00% 7/1/2053 |  | 1150 | 1282 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 38-B, 4.00% 7/1/2047 |  | 4175 | 4208 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 39-B, 4.00% 7/1/2048 |  | 12865 | 13001 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 42, 4.00% 1/1/2050 |  | 3195 | 3239 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 44, 4.00% 7/1/2050 |  | 2015 | 2046 |
| Housing Fin. Agcy., Home Ownership Rev. Ref. Bonds, Series 46-A, 3.00% 7/1/2051 |  | 8950 | 8815 |
| County of Mecklenburg, G.O. School Bonds, Series 2021, 5.00% 3/1/2023 |  | 1115 | 1117 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), Series 2020-A, 5.00% 10/1/2040 |  | 1425 | 1438 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), Series 2020-A, 4.00% 10/1/2045 |  | 1500 | 1271 |

---

174 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **North Carolina (continued)** |  |  |  |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), Series 2020-A, 4.00% 10/1/2050 | USD | 1100 | $900 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), Series 2020-A, 5.00% 10/1/2050 |  | 6605 | 6526 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Pines at Davidson Project), Series 2019-A, 5.00% 1/1/2038 |  | 1000 | 1017 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Pines at Davidson Project), Series 2019-A, 5.00% 1/1/2049 |  | 7665 | 7701 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Presbyterian Homes Obligated Group), Series 2016-C, 5.00% 10/1/2031 |  | 1400 | 1434 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (The Presbyterian Homes Obligated Group), Series 2016-C, 3.00% 10/1/2036 |  | 500 | 400 |
| Medical Care Commission, Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2019-A, 4.00% 11/1/2049 |  | 5000 | 5011 |
| Medical Care Commission, Hospital Rev. Bonds (Caromont Health), Series 2021-A, 5.00% 2/1/2030 |  | 420 | 489 |
| Medical Care Commission, Hospital Rev. Bonds (Caromont Health), Series 2021-A, 5.00% 2/1/2031 |  | 450 | 530 |
| Medical Care Commission, Hospital Rev. Bonds (Caromont Health), Series 2021-A, 5.00% 2/1/2032 |  | 475 | 554 |
| Medical Care Commission, Hospital Rev. Bonds (Caromont Health), Series 2021-A, 4.00% 2/1/2036 |  | 1475 | 1532 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (Plantation Village, Inc.), Series 2021-A, 4.00% 1/1/2041 |  | 1120 | 979 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Village Project), Series 2017-B, 5.00% 4/1/2047 |  | 4000 | 3539 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series 2019-A, 5.00% 1/1/2038 |  | 1840 | 1861 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series 2019-A, 5.00% 1/1/2044 |  | 5000 | 4981 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series 2019-A, 5.00% 1/1/2049 |  | 5300 | 5209 |
| Turnpike Auth., Triangle Expressway System, Appropriation Rev. Bonds, Capital Appreciation Bonds, Series 2019, 0% 1/1/2040 |  | 8815 | 4484 |
| Turnpike Auth., Triangle Expressway System, Appropriation Rev. Bonds, Capital Appreciation Bonds, Series 2019, 0% 1/1/2041 |  | 5500 | 2655 |
| Turnpike Auth., Triangle Expressway System, Appropriation Rev. Bonds, Capital Appreciation Bonds, Series 2019, 0% 1/1/2042 |  | 4650 | 2129 |
| Turnpike Auth., Triangle Expressway System, Appropriation Rev. Bonds, Capital Appreciation Bonds, Series 2019, 0% 1/1/2043 |  | 3650 | 1594 |
| Turnpike Auth., Triangle Expressway System, Turnpike Rev. Bonds, Series 2019, Assured Guaranty Municipal insured, 4.00% 1/1/2055 |  | 9820 | 9528 |
|  |  |  | **191595** |
| **North Dakota 0.31%** |  |  |  |
| County of Cass, Joint Water Resource Dist., Temporary Rev. Ref. Improvement Bonds, Series 2021-A, 0.48% 5/1/2024 |  | 2315 | 2225 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2038 |  | 1250 | 1222 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2040 |  | 1875 | 1797 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2041 |  | 2000 | 1878 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2046 |  | 1500 | 1307 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 12/1/2051 |  | 2675 | 1982 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2051 |  | 1700 | 1420 |
| Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-C, 3.15% 1/1/2036 |  | 290 | 286 |
| Housing Fin. Agcy., Homeownership Rev. Bonds (Home Mortgage Fin. Program), Series 2016-D, 3.50% 7/1/2046 |  | 1870 | 1868 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-B, 4.00% 1/1/2036 |  | 530 | 532 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-A, 4.00% 1/1/2038 |  | 140 | 140 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, (SIFMA Municipal Swap Index + 0.20%) 1.86% 1/1/2043 (put 7/1/2024)<sup>2</sup> |  | 2000 | 2000 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2015-D, 4.00% 7/1/2046 |  | 1535 | 1542 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-A, 4.00% 7/1/2047 |  | 1805 | 1819 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-D, 4.00% 1/1/2048 |  | 1505 | 1517 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2017-F, 4.00% 7/1/2048 |  | 3465 | 3495 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2018-A, 4.00% 1/1/2049 |  | 7820 | 7894 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-A, 4.25% 7/1/2049 |  | 1695 | 1724 |

---

American Funds Tax-Exempt Funds 175

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **North Dakota (continued)** |  |  |  |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-C, 4.00% 1/1/2050 | USD | 9765 | $9953 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2019-F, 3.75% 7/1/2050 |  | 4485 | 4517 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2020-B, 3.00% 7/1/2051 |  | 9060 | 8938 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052 |  | 2620 | 2581 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-B, 3.00% 7/1/2052 |  | 620 | 609 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2022-F, 5.00% 1/1/2053 |  | 4000 | 4263 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2023-A, 5.75% 7/1/2053 |  | 3230 | 3573 |
|  |  |  | **69082** |
| **Ohio 1.93%** |  |  |  |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-B, 1.375% 2/1/2026 (put 11/1/2024) |  | 1000 | 952 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-C, 1.50% 2/1/2026 (put 11/4/2025) |  | 1115 | 1035 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-A, 2.875% 2/1/2026 |  | 3250 | 3122 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-D, 2.875% 2/1/2026 |  | 4700 | 4515 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2014-D, 1.90% 5/1/2026 (put 10/1/2024) |  | 9000 | 8719 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (Ohio Valley Electric Corp. Project), Series 2019-A, 3.25% 9/1/2029 |  | 7500 | 6979 |
| Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. and Improvement Rev. Bonds (Summa Health Obligated Group), Series 2016, 5.25% 11/15/2041 |  | 2980 | 3065 |
| Akron, Bath and Copley Joint Township Hospital Dist., Hospital Facs. Rev. Ref. Bonds (Summa Health Obligated Group), Series 2020, 4.00% 11/15/2036 |  | 1000 | 971 |
| County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 5.00% 12/1/2028 |  | 2360 | 2667 |
| County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 12/1/2040 |  | 4800 | 4765 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 5.00% 6/1/2036 |  | 3420 | 3666 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 4.00% 6/1/2048 |  | 8205 | 7553 |
| County of Butler, Hospital Facs. Rev. Bonds (UC Health), Series 2016, 5.00% 11/15/2045 |  | 3000 | 3032 |
| County of Butler, Port Auth. Econ. Dev. Facs., Rev. Ref. Bonds (Community First Solutions), Series 2021-A, 4.00% 5/15/2046 |  | 500 | 491 |
| County of Butler, Port Auth. Econ. Dev. Facs., Rev. Ref. Bonds (Community First Solutions), Series 2021-A, 4.00% 5/15/2051 |  | 1000 | 968 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 4/1/2036 |  | 1545 | 1792 |
| Capital Facs. Lease Appropriation Bonds, Series 2021-A, 5.00% 4/1/2040 |  | 1110 | 1255 |
| City of Chillicothe, Hospital Facs. Rev. Ref. and Improvement Bonds (Adena Health System Obligated Group Project), Series 2017, 5.00% 12/1/2037 |  | 1160 | 1210 |
| City of Chillicothe, Hospital Facs. Rev. Ref. and Improvement Bonds (Adena Health System Obligated Group Project), Series 2017, 5.00% 12/1/2047 |  | 4495 | 4530 |
| City of Cleveland, Airport System Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 1/1/2027 |  | 1175 | 1233 |
| City of Cleveland, Airport System Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 1/1/2028 |  | 1525 | 1601 |
| City of Cleveland, Airport System Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 2000 | 2095 |
| City of Cleveland, Airport System Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 1/1/2031 |  | 1000 | 1047 |
| City of Cleveland, Airport System Rev. Ref. Bonds, Series 2018-B, 5.00% 1/1/2048 |  | 5000 | 5307 |
| City of Columbus, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2023 |  | 3570 | 3585 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.25% 2/15/2047 |  | 5000 | 5051 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.50% 2/15/2052 |  | 7970 | 8070 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2040 |  | 1120 | 982 |
| County of Franklin, Rev. Bonds (Trinity Health Credit Group), Series 2019-A, 4.00% 12/1/2039 |  | 435 | 436 |
| County of Franklin, Rev. Bonds (Trinity Health Credit Group), Series 2017-A, 4.00% 12/1/2049 |  | 2800 | 2718 |
| G.O. Highway Capital Improvement Bonds, Series 2022-X, 5.00% 5/1/2035 |  | 300 | 359 |
| G.O. Infrastructure Improvement Bonds, Series 2021-A, 5.00% 3/1/2034 |  | 1600 | 1932 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, 5.00% 1/1/2031 |  | 1345 | 1360 |

---

176 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Ohio (continued)** |  |  |  |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, 5.00% 1/1/2051 | USD | 14325 | $13194 |
| County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2020, 5.00% 9/15/2050 |  | 23670 | 23940 |
| County of Hamilton, Sales Tax Rev. Ref. and Improvement Bonds, Capital Appreciation Bonds, Series 2000-B, AMBAC insured, 0% 12/1/2027 |  | 6180 | 5382 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2025 |  | 170 | 173 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2034 |  | 490 | 506 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2035 |  | 505 | 514 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2036 |  | 400 | 402 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2023-B, 4.00% 7/1/2039 |  | 900 | 858 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2046 |  | 1260 | 1178 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2037 |  | 840 | 918 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2040 |  | 2460 | 2649 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2047 |  | 2000 | 2131 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2052 |  | 1345 | 1424 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (John Carroll University Project), Series 2022, 4.00% 10/1/2052 |  | 17000 | 14688 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (University of Dayton Project), Series 2018-B, 5.00% 12/1/2030 |  | 1090 | 1200 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (University of Dayton Project), Series 2018-B, 5.00% 12/1/2032 |  | 1000 | 1097 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (University of Dayton Project), Series 2018-B, 5.00% 12/1/2034 |  | 1040 | 1134 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (University of Dayton Project), Series 2018-B, 5.00% 12/1/2036 |  | 1000 | 1077 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, 5.00% 1/15/2032 |  | 1095 | 1141 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, 5.00% 1/15/2038 |  | 2265 | 2329 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, 5.00% 1/15/2045 |  | 4490 | 4561 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2028<sup>1</sup> |  | 3330 | 3376 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2033<sup>1</sup> |  | 2000 | 2020 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2048<sup>1</sup> |  | 13825 | 12656 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc. Project), Series 2016-A, 5.00% 1/15/2032 |  | 4000 | 4206 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc. Project), Series 2016-A, 5.00% 1/15/2035 |  | 1990 | 2085 |
| Hospital Rev. Bonds (University Hospitals Health System, Inc. Project), Series 2016-A, 5.00% 1/15/2046 |  | 8300 | 8467 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2030 |  | 2500 | 2940 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2017-A, 5.00% 1/1/2031 |  | 1700 | 1913 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2032 |  | 1575 | 1913 |
| Hospital Rev. Ref. Bonds (Cleveland Clinic Health System Obligated Group), Series 2021-B, 5.00% 1/1/2039 |  | 1000 | 1130 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Franklin Manor North Project), Series 2021, 0.25% 9/1/2024 (put 9/1/2023) |  | 2510 | 2454 |
| Housing Fin. Agcy., Multi Family Housing Rev. Bonds (Glen Meadows Apartments Project), Series 2021-A, 0.40% 11/1/2024 (put 11/1/2023) |  | 2700 | 2630 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-K, 3.50% 9/1/2046 |  | 560 | 560 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2016-D, 4.00% 3/1/2047 |  | 5765 | 5804 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-A, 4.50% 3/1/2047 |  | 3895 | 3959 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2017-D, 4.00% 3/1/2048 |  | 6940 | 6993 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-A, 4.50% 9/1/2049 |  | 9740 | 9959 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-B, 3.25% 3/1/2050 |  | 2520 | 2507 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2019-B, 4.50% 3/1/2050 |  | 6245 | 6392 |

---

American Funds Tax-Exempt Funds 177

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Ohio (continued)** |  |  |  |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2020-A, 3.75% 9/1/2050 | USD | 6420 | $6479 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2021-A, 3.00% 3/1/2052 |  | 21850 | 21537 |
| Housing Fin. Agcy., Residential Mortgage Rev. Bonds (Mortgage-Backed Securities Program), Series 2022-A, 3.25% 9/1/2052 |  | 9980 | 9911 |
| County of Lucas, Hospital Rev. Bonds (Promedica Healthcare Obligated Group), Series 2018-A, 5.25% 11/15/2048 |  | 10620 | 9539 |
| Major New State Infrastructure Project Rev. Bonds, Series 2021-1-A, 5.00% 12/15/2030 |  | 1780 | 2126 |
| Major New State Infrastructure Project Rev. Bonds, Series 2019-1, 5.00% 12/15/2031 |  | 4375 | 5309 |
| Major New State Infrastructure Project Rev. Bonds, Series 2021-1-A, 5.00% 12/15/2031 |  | 1635 | 1984 |
| Major New State Infrastructure Project Rev. Bonds, Series 2021-1-A, 5.00% 12/15/2032 |  | 1700 | 2101 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2036 |  | 1450 | 1469 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2037 |  | 2100 | 2117 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2038 |  | 2100 | 2111 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2039 |  | 1000 | 1002 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2041 |  | 3000 | 2989 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2046 |  | 10000 | 9823 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2051 |  | 1250 | 1206 |
| North East Ohio Regional Sewer Dist., Wastewater Improvement Rev. Bonds, Series 2013, 5.00% 11/15/2043 |  | 4350 | 4381 |
| Northwest Local School Dist., School Improvement Unlimited Tax G.O. Bonds, Series 2015, 5.00% 12/1/2040 (preref. 12/1/2023) |  | 2015 | 2058 |
| Ohio State University, General Receipts Green Bonds (Multiyear Debt Issuance Program II), Series 2021-A, 4.00% 12/1/2048 |  | 10000 | 9939 |
| Ohio University, General Receipts Bonds, Series 2017-A, 5.00% 12/1/2033 |  | 1000 | 1100 |
| Port Auth., Gas Supply Rev. Ref. Bonds, Series 2019, 5.00% 8/1/2049 (put 2/1/2025) |  | 3000 | 3089 |
| Public Facs. Commission, Higher Education G.O. Rev. Ref. Bonds, Series 2017-C, 5.00% 8/1/2027 |  | 2500 | 2810 |
| County of Ross, Hospital Facs. Rev. Ref. and Improvement Bonds (Adena Health System Obligated Group), Series 2019, 5.00% 12/1/2039 |  | 4000 | 4152 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds (Infrastructure Projects), Series 2018-A, 5.00% 2/15/2031 |  | 8080 | 9151 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds (Infrastructure Projects), Series 2018-A, 5.00% 2/15/2032 |  | 6690 | 7569 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds (Infrastructure Projects), Series 2018-A, 5.00% 2/15/2033 |  | 19230 | 21668 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds (Infrastructure Projects), Series 2018-A, 4.00% 2/15/2038 |  | 410 | 422 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds, Capital Appreciation Bonds, Series 2018-A, 0% 2/15/2041 |  | 2665 | 1260 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds, Capital Appreciation Bonds, Series 2018-A, 0% 2/15/2042 |  | 3500 | 1576 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Bonds, Capital Appreciation Bonds, Series 2018-A, 0% 2/15/2043 |  | 2340 | 999 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2/15/2033 |  | 3635 | 4500 |
| Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2022-A, 5.00% 2/15/2039 |  | 8040 | 9388 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2014, 5.00% 7/1/2033 |  | 375 | 384 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2033 |  | 875 | 924 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2013-A, 5.75% 7/1/2033 |  | 1000 | 1013 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2014, 5.00% 7/1/2034 |  | 505 | 517 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2034 |  | 1000 | 1051 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2035 |  | 1000 | 1046 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2036 |  | 580 | 605 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2040 |  | 1930 | 1993 |

---

178 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Ohio (continued)** |  |  |  |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 12/1/2040 | USD | 2250 | $2541 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 12/1/2050 |  | 2500 | 2763 |
| Water Dev. Auth., Water Pollution Control Loan Fund Rev. Green Bonds, Series 2021-A, 5.00% 12/1/2034 |  | 875 | 1055 |
|  |  |  | **437180** |
| **Oklahoma 0.12%** |  |  |  |
| Grand River Dam Auth., Rev. Bonds, Series 2017, 5.00% 6/1/2036 |  | 2000 | 2170 |
| Grand River Dam Auth., Rev. Bonds, Series 2017, 5.00% 6/1/2039 |  | 3530 | 3793 |
| Grand River Dam Auth., Rev. Ref. Bonds, Series 2016-A, 5.00% 6/1/2031 |  | 5500 | 6023 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2019-A, 4.00% 9/1/2049 |  | 3280 | 3322 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds (Homeownership Loan Program), Series 2020-B, 3.25% 9/1/2050 |  | 2055 | 2042 |
| Municipal Power Auth., Power Supply System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2031 |  | 1300 | 1376 |
| Municipal Power Auth., Power Supply System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2034 |  | 1000 | 1054 |
| Municipal Power Auth., Power Supply System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2047 |  | 3070 | 3210 |
| Board of Regents of Oklahoma State University, General Rev. Ref. Bonds, Series 2020-A, 5.00% 9/1/2026 |  | 1200 | 1318 |
| Turnpike Auth., Turnpike System Rev. Bonds, Series 2017-C, 5.00% 1/1/2047 |  | 3745 | 3955 |
|  |  |  | **28263** |
| **Oregon 0.35%** |  |  |  |
| Facs. Auth., Rev. Bonds (University of Portland Projects), Series 2015-A, 4.00% 4/1/2040 |  | 2480 | 2457 |
| Facs. Auth., Rev. Bonds (University of Portland Projects), Series 2015-A, 5.00% 4/1/2045 |  | 3305 | 3371 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2029 |  | 300 | 332 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2030 |  | 300 | 336 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2035 |  | 275 | 298 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2040 |  | 1750 | 1825 |
| G.O. Bonds, Series 2017-C, 5.00% 6/1/2029 |  | 5000 | 5579 |
| G.O. Bonds, Series 2017-C, 5.00% 6/1/2033 |  | 2500 | 2773 |
| G.O. Bonds (Veteran's Welfare Bonds Series 96), Series 2015-Q, 4.00% 12/1/2045 |  | 3030 | 3047 |
| G.O. Bonds (Veteran's Welfare Bonds Series 99B), Series 2017-Q, 3.50% 12/1/2047 |  | 3430 | 3425 |
| G.O. Bonds (Veteran's Welfare Bonds Series 109), Series 2022-D, 5.00% 12/1/2052 |  | 605 | 644 |
| Housing and Community Services Dept., Housing Dev. Rev. Bonds (Westwind Apartments Project), Series 2021-H, 0.25% 3/1/2024 (put 3/1/2023) |  | 1595 | 1592 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2016-A, 4.00% 1/1/2047 |  | 3175 | 3192 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2017-A, 4.00% 7/1/2047 |  | 2205 | 2219 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2017-D, 3.50% 7/1/2048 |  | 5690 | 5686 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2018-A, 4.50% 1/1/2049 |  | 1730 | 1758 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2018-C, 4.50% 7/1/2049 |  | 1245 | 1267 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2018-D, 4.75% 1/1/2050 |  | 3055 | 3131 |
| Housing and Community Services Dept., Mortgage Rev. Bonds (Single Family Mortgage Program), Series 2021-A, 3.00% 7/1/2052 |  | 17170 | 16908 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.375% 7/1/2045 |  | 2000 | 1822 |
| City of Portland, Water System Rev. Bonds, Series 2019-A, 4.00% 5/1/2039 |  | 1445 | 1485 |
| Port of Portland, Portland International Airport Rev. Bonds, Series 23, 5.00% 7/1/2027 |  | 1675 | 1781 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-B, 5.00% 7/1/2037 |  | 1000 | 1126 |
| Port of Portland, Portland International Airport Rev. Ref. Bonds, Series 26-B, 5.00% 7/1/2040 |  | 1000 | 1103 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2047 |  | 2000 | 1578 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2057 |  | 4000 | 2957 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2024 |  | 210 | 211 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2025 |  | 230 | 232 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2026 |  | 225 | 227 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2027 |  | 125 | 126 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2053 |  | 1500 | 1441 |

---

American Funds Tax-Exempt Funds 179

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Oregon (continued)** |  |  |  |
| Tri-County Metropolitan Transportation Dist., Capital Grant Receipt Rev. Bonds, Series 2018-A, 5.00% 10/1/2029 | USD | 2435 | $2723 |
| Tri-County Metropolitan Transportation Dist., Capital Grant Receipt Rev. Bonds, Series 2018-A, 5.00% 10/1/2030 |  | 2075 | 2314 |
| Tri-County Metropolitan Transportation Dist., Payroll Tax Rev. Bonds, Series 2021-A, 3.00% 9/1/2036 |  | 1000 | 990 |
|  |  |  | **79956** |
| **Pennsylvania 4.26%** |  |  |  |
| County of Allegheny, Airport Auth., Airport Rev. Bonds, Series 2012-B, Assured Guaranty Municipal insured, 4.00% 1/1/2046 |  | 8500 | 8489 |
| County of Allegheny, Higher Education Building Auth., Rev. Bonds (Carnegie Mellon University), Series 2022-A, (USD-SOFR x 0.70 + 0.29%) 3.30% 2/1/2033 (put 8/1/2027)<sup>2</sup> |  | 6250 | 6072 |
| County of Allegheny, Hospital Dev. Auth. Rev. Bonds (Allegheny Health Network Obligated Group Issue), Series 2018-A, 5.00% 4/1/2032 |  | 4350 | 4771 |
| County of Allegheny, Hospital Dev. Auth. Rev. Bonds (Allegheny Health Network Obligated Group Issue), Series 2018-A, 5.00% 4/1/2033 |  | 3500 | 3828 |
| County of Allegheny, Hospital Dev. Auth. Rev. Bonds (Allegheny Health Network Obligated Group Issue), Series 2018-A, 5.00% 4/1/2047 |  | 2500 | 2571 |
| County of Allegheny, Hospital Dev. Auth., Rev. Bonds (University of Pittsburgh Medical Center Issue), Series 2007-A-1, (3-month USD-LIBOR x 0.67 + 0.82%) 3.795% 2/1/2037<sup>2</sup> |  | 8155 | 8022 |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2019-A, 4.00% 7/15/2035 |  | 2000 | 2053 |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2019-A, 4.00% 7/15/2037 |  | 3750 | 3788 |
| County of Allegheny, Hospital Dev. Auth., UPMC Rev. Bonds, Series 2019-A, 4.00% 7/15/2039 |  | 2105 | 2115 |
| County of Allegheny, Sanitary Auth., Sewer Rev. Bonds, Series 2020-A, 4.00% 6/1/2033 |  | 250 | 271 |
| County of Allegheny, Sanitary Auth., Sewer Rev. Bonds, Series 2020-B, 4.00% 6/1/2050 |  | 2000 | 1978 |
| Allentown City School Dist., Unlimited Tax G.O. Bonds, Series 2018, BAM insured, 5.00% 2/1/2028 |  | 2565 | 2865 |
| Allentown City School Dist., Unlimited Tax G.O. Bonds, Series 2018, BAM insured, 5.00% 2/1/2029 |  | 2995 | 3379 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Ref. Project), Series 2017, 5.00% 5/1/2042<sup>1</sup> |  | 1610 | 1521 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Ref. Bonds, Series 2022, 5.00% 5/1/2042 |  | 1250 | 1276 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 5.00% 11/1/2035 |  | 2000 | 1531 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2047 |  | 1000 | 585 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 5.00% 11/1/2047 |  | 9800 | 6802 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2050 |  | 1000 | 585 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-C, 5.00% 5/15/2037 |  | 750 | 751 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-A, 5.00% 5/15/2047 |  | 600 | 568 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-C, 5.00% 5/15/2047 |  | 100 | 96 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2018, 5.00% 5/15/2048 |  | 1000 | 957 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2030 (put 11/1/2025)<sup>2</sup> |  | 820 | 799 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 7/1/2031 (put 11/1/2025)<sup>2</sup> |  | 1100 | 1072 |
| Bethlehem Area School Dist. Auth., School Rev. Bonds (Bethlehem Area School Dist. Ref. Project), Series 2021-C, (USD-SOFR x 0.67 + 0.35%) 3.231% 1/1/2032 (put 11/1/2025)<sup>2</sup> |  | 870 | 848 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 4.00% 7/1/2046 |  | 515 | 418 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2054 |  | 8400 | 7811 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2023 |  | 135 | 136 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2025 |  | 250 | 257 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2026 |  | 120 | 124 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2027 |  | 760 | 786 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2029 |  | 1130 | 1161 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2030 |  | 515 | 527 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2031 |  | 660 | 673 |
| County of Chester, Health and Education Facs. Auth., Health System Rev. Bonds (Main Line Health System), Series 2017-A, 4.00% 10/1/2042 |  | 2500 | 2475 |

---

180 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| County of Cumberland, Municipal Auth., Rev. Bonds (Penn State Health), Series 2019, 4.00% 11/1/2044 | USD | 9155 | $9075 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Penn State Health), Series 2019, 4.00% 11/1/2049 |  | 5000 | 4837 |
| Delaware River Joint Toll Bridge Commission, Bridge System Rev. Bonds, Series 2017, 5.00% 7/1/2031 |  | 2050 | 2277 |
| Delaware River Joint Toll Bridge Commission, Bridge System Rev. Bonds, Series 2017, 5.00% 7/1/2032 |  | 55 | 61 |
| Delaware River Joint Toll Bridge Commission, Bridge System Rev. Bonds, Series 2017, 5.00% 7/1/2036 |  | 1000 | 1090 |
| Delaware River Joint Toll Bridge Commission, Bridge System Rev. Ref. Bonds, Series 2015, 5.00% 7/1/2031 |  | 350 | 372 |
| Delaware River Port Auth., Rev. Bonds, Series 2018-A, 5.00% 1/1/2031 |  | 1000 | 1136 |
| Delaware River Port Auth., Rev. Bonds, Series 2018-A, 5.00% 1/1/2032 |  | 1250 | 1420 |
| Delaware Valley Regional Fin. Auth., Local Government Rev. Bonds, Series 2007-C, (3-month USD-LIBOR x 0.67 + 0.75%) 3.939% 6/1/2037<sup>2</sup> |  | 19490 | 16932 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2041 |  | 4265 | 3694 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2046 |  | 1310 | 1101 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 5.00% 7/1/2049 |  | 500 | 413 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2020, 4.00% 7/15/2050 |  | 5000 | 4565 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2021, 4.00% 7/15/2051 |  | 2500 | 2269 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2022-A, 5.00% 2/15/2038 |  | 2000 | 2187 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2022-A, 5.00% 2/15/2039 |  | 2725 | 2958 |
| Econ. Dev. Fncg. Auth., UPMC Rev. Bonds, Series 2020-A, 4.00% 4/15/2050 |  | 2000 | 1905 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-C, Assured Guaranty Municipal insured, 5.00% 4/1/2029 |  | 1000 | 1140 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 4/1/2030 |  | 425 | 484 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-C, Assured Guaranty Municipal insured, 5.00% 4/1/2030 |  | 500 | 569 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2025 |  | 2500 | 2628 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2026 |  | 2000 | 2148 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2027 |  | 3000 | 3284 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2030 |  | 4000 | 4452 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2031 |  | 3500 | 3891 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2032 |  | 3000 | 3329 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2033 |  | 3000 | 3321 |
| Fncg. Auth., Rev. Bonds (Tobacco Master Settlement Payment), Series 2018, 5.00% 6/1/2034 |  | 3000 | 3306 |
| General Auth. of Southcentral Pennsylvania, Rev. Bonds (Wellspan Health Obligated Group), Series 2019-B, (SIFMA Municipal Swap Index + 0.60%) 2.26% 6/1/2049 (put 6/1/2024)<sup>2</sup> |  | 6000 | 5981 |
| Higher Educational Facs. Auth., Health System Rev. Bonds (University of Pennsylvania Health System), Series 2017-A, 4.00% 8/15/2035 |  | 7000 | 7180 |
| Higher Educational Facs. Auth., Health System Rev. Bonds (University of Pennsylvania Health System), Series 2017-A, 5.00% 8/15/2042 |  | 3500 | 3691 |
| Higher Educational Facs. Auth., Health System Rev. Bonds (University of Pennsylvania Health System), Series 2019, 4.00% 8/15/2049 |  | 14000 | 13547 |
| Higher Educational Facs. Auth., Health System Rev. Ref. Bonds (University of Pennsylvania Health System), Series 2021-B, 4.00% 8/15/2037 |  | 1525 | 1563 |
| Higher Educational Facs. Auth., Health System Rev. Ref. Bonds (University of Pennsylvania Health System), Series 2021-B, 4.00% 8/15/2039 |  | 1450 | 1474 |
| Higher Educational Facs. Auth., Health System Rev. Ref. Bonds (University of Pennsylvania Health System), Series 2021-B, 4.00% 8/15/2042 |  | 2015 | 1998 |
| Higher Educational Facs. Auth., Rev. Ref. Bonds, Series 2015-AQ, 5.00% 6/15/2024 |  | 3900 | 4031 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-120, 2.80% 10/1/2031 |  | 5000 | 4843 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-121, 2.80% 10/1/2031 |  | 3320 | 3189 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-124-B, 3.20% 10/1/2032 |  | 6000 | 5935 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-128-B, 3.50% 10/1/2034 |  | 6500 | 6491 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-119, 3.50% 10/1/2041 |  | 3105 | 3101 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-125-B, 3.65% 10/1/2042 |  | 7500 | 6985 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-120, 3.50% 10/1/2046 |  | 2805 | 2802 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2016-121, 3.50% 10/1/2046 |  | 5235 | 5229 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-122, 4.00% 10/1/2046 |  | 685 | 689 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-125-B, 3.70% 10/1/2047 |  | 425 | 406 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2018-126-A, 4.00% 10/1/2048 |  | 10025 | 10110 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-135-A, 3.00% 10/1/2051 |  | 3375 | 3333 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-136, 3.00% 10/1/2051 |  | 14695 | 14510 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 10/1/2051 |  | 4625 | 4510 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2022-138-A, 3.00% 10/1/2052 |  | 15945 | 15532 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2023-141-A, 5.75% 10/1/2053 |  | 9220 | 10198 |

---

American Funds Tax-Exempt Funds 181

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Country Commons Apartments), Series 2018, 3.60% 8/1/2035 | USD | 6151 | $6301 |
| Housing Fin. Agcy., Special Limited Obligation Multi Family Housing Dev. Bonds (Harrison Senior Tower), Series 2021, 0.25% 6/1/2024 (put 6/1/2023) |  | 9335 | 9220 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), Series 2021, 4.00% 7/1/2051 |  | 1195 | 939 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), Series 2021, 4.00% 7/1/2056 |  | 1585 | 1213 |
| County of Lancaster, Hospital Auth., Rev. Bonds (Brethren Village Project), Series 2017, 5.00% 7/1/2025 |  | 650 | 651 |
| County of Lancaster, Hospital Auth., Rev. Bonds (Penn State Health), Series 2021, 5.00% 11/1/2041 |  | 1000 | 1073 |
| County of Lancaster, Hospital Auth., Rev. Bonds (Penn State Health), Series 2021, 5.00% 11/1/2046 |  | 5890 | 6221 |
| County of Lancaster, Hospital Auth., Rev. Bonds (Penn State Health), Series 2021, 5.00% 11/1/2051 |  | 4730 | 4927 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 5.00% 7/1/2044 |  | 5000 | 5246 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 4.00% 7/1/2049 |  | 18875 | 17919 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (St. Luke's Hospital), Series 2017-B, (SIFMA Municipal Swap Index + 1.10%) 2.76% 8/15/2038<sup>2</sup> |  | 12155 | 12006 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Ref. Bonds (Lehigh Valley Health Network), Series 2016-A, 4.00% 7/1/2035 |  | 4000 | 4019 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2019, 4.00% 9/1/2038 |  | 1000 | 1000 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2019, 4.00% 9/1/2039 |  | 1000 | 1000 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2019, 4.00% 9/1/2044 |  | 2500 | 2443 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 4.00% 5/1/2052 |  | 14775 | 13577 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 4.00% 5/1/2056 |  | 19465 | 17640 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 5.00% 5/1/2057 |  | 17000 | 17520 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2030 (preref. 1/15/2025) |  | 1000 | 1053 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2031 (preref. 1/15/2025) |  | 5000 | 5263 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2036 (preref. 1/15/2025) |  | 2500 | 2632 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2045 (preref. 1/15/2025) |  | 5580 | 5874 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2033 |  | 8905 | 9136 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2036 |  | 19000 | 19260 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Foulkeways at Gwynedd Project), Series 2016, 5.00% 12/1/2046 |  | 1325 | 1328 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-C, 5.00% 11/15/2045 |  | 1990 | 1990 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 4.00% 12/1/2024 |  | 100 | 101 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 5.00% 12/1/2044 |  | 850 | 882 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 5.00% 12/1/2049 |  | 3595 | 3713 |
| County of Montour, Geisinger Auth. Health System Rev. Bonds, Series 2020-A, 4.00% 4/1/2039 |  | 5540 | 5558 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2018-A, 5.00% 8/15/2043 |  | 1000 | 1040 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2016-A, 5.00% 8/15/2046 |  | 4000 | 4068 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2018-B, (1-month USD-LIBOR x 0.70 + 1.04%) 4.098% 8/15/2048 (put 8/15/2024)<sup>2</sup> |  | 3650 | 3650 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2018-A, 5.00% 8/15/2048 |  | 1000 | 1038 |
| Pennsylvania State University, G.O. Bonds, Series 2020-A, 5.00% 9/1/2038 |  | 2775 | 3095 |
| Pennsylvania State University, G.O. Bonds, Series 2020-A, 5.00% 9/1/2039 |  | 2330 | 2588 |

---

182 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Pennsylvania State University, G.O. Bonds, Series 2020-A, 5.00% 9/1/2040 | USD | 1250 | $1381 |
| City of Philadelphia, Gas Works Rev. Bonds, Thirteenth Series, 5.00% 8/1/2028 |  | 2000 | 2113 |
| City of Philadelphia, Gas Works Rev. Bonds, Thirteenth Series, 5.00% 8/1/2031 |  | 1000 | 1053 |
| City of Philadelphia, Gas Works Rev. Bonds, Thirteenth Series, 5.00% 8/1/2032 |  | 2000 | 2102 |
| City of Philadelphia, Gas Works Rev. Bonds, Thirteenth Series, 5.00% 8/1/2034 |  | 1000 | 1045 |
| City of Philadelphia, Gas Works Rev. Ref. Bonds, Fourteenth Series, 5.00% 10/1/2031 |  | 1500 | 1611 |
| City of Philadelphia, Gas Works Rev. Ref. Bonds, Fourteenth Series, 5.00% 10/1/2033 |  | 2750 | 2934 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2028 |  | 1000 | 1070 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Rev. Bonds (Temple University Health System Obligated Group), Series 2022, Assured Guaranty Municipal insured, 5.00% 7/1/2035 |  | 1955 | 2198 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Rev. Bonds (Temple University Health System Obligated Group), Series 2022, Assured Guaranty Municipal insured, 4.00% 7/1/2040 |  | 3660 | 3603 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Temple University), Series 2016-1, 5.00% 4/1/2027 |  | 5625 | 5917 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Temple University), Series 2016-1, 5.00% 4/1/2028 |  | 1000 | 1052 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Temple University), Series 2016-1, 5.00% 4/1/2029 |  | 2620 | 2752 |
| City of Philadelphia, Water and Wastewater Rev. and Rev. Ref. Bonds, Series 2020-A, 5.00% 11/1/2045 |  | 3000 | 3265 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2017-A, 5.00% 10/1/2034 |  | 3915 | 4326 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2017-A, 5.00% 10/1/2037 |  | 2000 | 2168 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2022-C, 5.00% 6/1/2042 |  | 1000 | 1111 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2017-A, 5.00% 10/1/2052 |  | 4000 | 4194 |
| City of Philadelphia, Water and Wastewater Rev. Bonds, Series 2017-A, 5.25% 10/1/2052 |  | 3000 | 3177 |
| City of Philadelphia, Water and Wastewater Rev. Ref. Bonds, Series 2017-B, 5.00% 11/1/2029 |  | 3475 | 3886 |
| City of Philadelphia, Water and Wastewater Rev. Ref. Bonds, Series 2017-B, 5.00% 11/1/2030 |  | 5900 | 6592 |
| City of Philadelphia, Water and Wastewater Rev. Ref. Bonds, Series 2017-B, 5.00% 11/1/2031 |  | 3560 | 3976 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2024 |  | 1185 | 1229 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, BAM Insured, 5.00% 9/1/2027 |  | 3905 | 4252 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2027 |  | 500 | 542 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, BAM Insured, 5.00% 9/1/2027 (preref. 9/1/2026) |  | 5 | 6 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2028 |  | 11000 | 11880 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2029 |  | 10000 | 10786 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2029 |  | 1250 | 1396 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2030 |  | 1990 | 2139 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2031 |  | 1600 | 1784 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2032 |  | 1000 | 1114 |
| Philadelphia School Dist., G.O. Bonds, Series 2015-A, 5.00% 9/1/2035 |  | 1400 | 1468 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2035 |  | 1000 | 1097 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 5.00% 9/1/2035 |  | 6320 | 7218 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, 4.00% 9/1/2036 |  | 3500 | 3606 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 4.00% 9/1/2036 |  | 5270 | 5467 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, 4.00% 9/1/2037 |  | 3700 | 3788 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 4.00% 9/1/2037 |  | 3765 | 3878 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2037 |  | 1850 | 2007 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, 4.00% 9/1/2038 |  | 4270 | 4349 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 9/1/2038 |  | 1000 | 1081 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, 4.00% 9/1/2039 |  | 1800 | 1824 |
| Philadelphia School Dist., G.O. Bonds, Series 2019-A, 5.00% 9/1/2044 |  | 15000 | 16184 |
| Philadelphia School Dist., G.O. Bonds, Series 2021-A, 4.00% 9/1/2046 |  | 12500 | 12219 |
| Philadelphia School Dist., G.O. Rev. Ref. Bonds, Series 2020, 5.00% 9/1/2023 |  | 2500 | 2533 |
| Philadelphia School Dist., G.O. Rev. Ref. Bonds, Series 2007-A, FGIC-National insured, 5.00% 6/1/2034 |  | 17000 | 20463 |
| City of Pittsburgh, Water and Sewer Auth., Water and Sewer System Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 9/1/2032 |  | 2000 | 2437 |
| City of Pittsburgh, Water and Sewer Auth., Water and Sewer System Rev. Ref. Bonds, Series 2019-B, Assured Guaranty Municipal insured, 5.00% 9/1/2033 |  | 1250 | 1539 |
| City of Pittsburgh, Water and Sewer Auth., Water and Sewer System Rev. Ref. Bonds, Series 2017-C, Assured Guaranty Municipal insured, 2.31% 9/1/2040 (put 12/1/2023)<sup>2</sup> |  | 4000 | 3997 |
| Public School Building Auth., School Lease Rev. Ref. Bonds (Philadelphia School Dist. Project), Series 2006-B, Assured Guaranty Municipal insured, 5.00% 6/1/2027 |  | 9820 | 10872 |
| Public School Building Auth., School Lease Rev. Ref. Bonds (Philadelphia School Dist. Project), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 6/1/2030 |  | 4000 | 4289 |

---

American Funds Tax-Exempt Funds 183

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Public School Building Auth., School Lease Rev. Ref. Bonds (Philadelphia School Dist. Project), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 6/1/2033 | USD | 6000 | $6409 |
| Reading School Dist., G.O. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 3/1/2037 |  | 1750 | 1863 |
| Borough of Sayre, Health Care Facs. Auth., Rev. Bonds (Guthrie Health Issue), Series 2007, (3-month USD-LIBOR + 0.78%) 3.969% 12/1/2024<sup>2</sup> |  | 5885 | 5899 |
| Borough of Sayre, Health Care Facs. Auth., Rev. Bonds (Guthrie Health Issue), Series 2007, (3-month USD-LIBOR + 0.83%) 4.019% 12/1/2031<sup>2</sup> |  | 2005 | 1891 |
| Scranton School Dist., G.O. Bonds, Series 2017-E, BAM insured, 5.00% 12/1/2032 |  | 1000 | 1112 |
| Scranton School Dist., G.O. Bonds, Series 2017-E, BAM insured, 5.00% 12/1/2033 |  | 800 | 887 |
| Township of West Cornwall, Municipal Auth., Healthcare Facs. Rev. Bonds (Lebanon Valley Brethren Home Project), Series 2021-A, 4.00% 11/15/2046 |  | 525 | 446 |
| Turnpike Commission, Oil Franchise Tax Rev. Bonds, Series 2021-A, 4.00% 12/1/2051 |  | 7000 | 6820 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-A-1, 5.00% 12/1/2032 |  | 1000 | 1114 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-B-2, Assured Guaranty Municipal insured, 5.00% 6/1/2033 |  | 11200 | 12344 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-A-1, 5.00% 12/1/2033 |  | 1500 | 1663 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2022-A, 5.00% 12/1/2033 |  | 4780 | 5753 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-B-2, Assured Guaranty Municipal insured, 5.00% 6/1/2034 |  | 6995 | 7678 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2034 |  | 2000 | 2146 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2035 |  | 3500 | 3740 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2036 |  | 3250 | 3461 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2039 |  | 3410 | 3498 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 4.00% 12/1/2039 |  | 1200 | 1230 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2014-C, 5.00% 12/1/2039 |  | 6000 | 6173 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2040 |  | 4000 | 4083 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2020-B, 5.00% 12/1/2040 |  | 1000 | 1087 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2041 |  | 2175 | 2212 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2041 |  | 9530 | 9936 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2042 |  | 3125 | 3153 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 4.00% 12/1/2042 |  | 1550 | 1564 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-A-1, 5.00% 12/1/2042 |  | 6500 | 6875 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2043 |  | 1660 | 1652 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2043 |  | 3790 | 3816 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 4.00% 12/1/2043 |  | 1325 | 1334 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2044 |  | 2075 | 2054 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2044 |  | 22450 | 24309 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2044 |  | 2500 | 2665 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2045 |  | 1280 | 1259 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2046 |  | 2490 | 2438 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2016-A-1, 5.00% 12/1/2046 |  | 20960 | 21793 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 5.00% 12/1/2046 |  | 11000 | 11936 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 5.00% 12/1/2046 |  | 4250 | 4637 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-A-1, 5.00% 12/1/2047 |  | 12220 | 12891 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 28265 | 30282 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2050 |  | 9000 | 8538 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 3.00% 12/1/2051 |  | 8990 | 6901 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 3.00% 12/1/2051 |  | 3320 | 2574 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 4.00% 12/1/2051 |  | 5000 | 4735 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-C, 4.00% 12/1/2051 |  | 6350 | 6229 |
| County of Westmoreland, Municipal Auth., Municipal Service Rev. Bonds, Series 2016, BAM insured, 5.00% 8/15/2042 |  | 5000 | 5192 |
|  |  |  | **964559** |
| **Puerto Rico 0.75%** |  |  |  |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 5.00% 7/1/2033<sup>1</sup> |  | 415 | 427 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 7/1/2033<sup>1</sup> |  | 2580 | 2657 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2035<sup>1</sup> |  | 7145 | 7282 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2037<sup>1</sup> |  | 1855 | 1887 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 7/1/2037<sup>1</sup> |  | 3155 | 3214 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 4.00% 7/1/2042<sup>1</sup> |  | 990 | 887 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2042<sup>1</sup> |  | 10460 | 9374 |

---

184 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Puerto Rico (continued)** |  |  |  |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 4.00% 7/1/2042<sup>1</sup> | USD | 10060 | $9015 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, Assured Guaranty Municipal insured, (3-month USD-LIBOR x 0.67 + 0.52%) 3.705% 7/1/2029<sup>2</sup> |  | 25110 | 22752 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 10/1/2031 |  | 1390 | 1393 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.00% 10/1/2025 |  | 990 | 990 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.375% 10/1/2031 |  | 1870 | 1872 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2004, National insured, 4.50% 10/1/2029 |  | 1280 | 1283 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2029 |  | 2100 | 2356 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2039 |  | 2400 | 2595 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2032 |  | 1000 | 1130 |
| Public Fin. Corp., Commonwealth Appropriation Bonds, Series 2001-E, 6.00% 8/1/2026 (escrowed to maturity) |  | 3840 | 4291 |
| Public Fin. Corp., Commonwealth Appropriation Bonds, Series 2001-E, 6.00% 8/1/2026 (escrowed to maturity) |  | 45 | 50 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Capital Appreciation Bonds, Series 2007-A, Class 2, AMBAC insured, 0% 8/1/2047<sup>2</sup> |  | 5690 | 1570 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Capital Appreciation Bonds, Series 2007-A, Class 2, AMBAC insured, 0% 8/1/2054<sup>2</sup> |  | 9298 | 1943 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 10858 | 10422 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 1343 | 1289 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.784% 7/1/2058 |  | 2000 | 1913 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2018-A-1, 5.00% 7/1/2058 |  | 14861 | 14679 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2024 |  | 102 | 96 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2029 |  | 243 | 182 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2031 |  | 314 | 212 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2046 |  | 211154 | 58248 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2051 |  | 5000 | 1045 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2023 |  | 4600 | 4590 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2026 |  | 1250 | 1229 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2030 |  | 5 | 5 |
|  |  |  | **170878** |
| **Rhode Island 0.31%** |  |  |  |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2032 |  | 640 | 680 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2034 |  | 1505 | 1590 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2036 |  | 500 | 524 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2037 |  | 250 | 261 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2041 |  | 2130 | 2208 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2046 |  | 10010 | 10314 |
| Commerce Corp., Grant Anticipation Rev. Ref. Bonds (Dept. of Transportation), Series 2016-A, 5.00% 6/15/2023 |  | 1000 | 1009 |
| Commerce Corp., Grant Anticipation Rev. Ref. Bonds (Dept. of Transportation), Series 2016-A, 5.00% 6/15/2024 |  | 2250 | 2323 |
| Econ. Dev. Corp., Airport Rev. Ref. Bonds, Series 2013-B, 5.00% 7/1/2023 |  | 2990 | 3019 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, 4.00% 10/1/2046 |  | 1365 | 1346 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, 4.00% 10/1/2051 |  | 3865 | 3749 |
| Health and Educational Building Corp., Hospital Fncg. Rev. Ref. Bonds (Lifespan Obligated Group Issue), Series 2016, 5.00% 5/15/2025 |  | 5500 | 5678 |
| Health and Educational Building Corp., Providence Public Schools Rev. Bond Fncg. Program, Rev. Ref. Bonds (Providence Public Buildings Auth. Issue), Series 2015, Assured Guaranty Municipal insured, 5.00% 5/15/2026 |  | 4000 | 4238 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 69-B, 4.00% 10/1/2048 |  | 4725 | 4781 |

---

American Funds Tax-Exempt Funds 185

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Rhode Island (continued)** |  |  |  |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 74, 3.00% 4/1/2049 | USD | 7800 | $7694 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 71, 3.75% 10/1/2049 |  | 6920 | 6964 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 70, 4.00% 10/1/2049 |  | 3540 | 3580 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 75-A, 3.00% 10/1/2051 |  | 11040 | 10871 |
| Housing and Mortgage Fin. Corp., Multi Family Dev. Bonds, Series 2021-A-1, 0.45% 10/1/2040 (put 10/1/2023) |  | 405 | 405 |
|  |  |  | **71234** |
| **South Carolina 1.77%** |  |  |  |
| City of Columbia, Housing Auth., Multi Family Housing Rev. Bonds (Colonel Bluffs Apartments Project), Series 2022-B, 1.25% 8/1/2025 (put 8/1/2024) |  | 1760 | 1705 |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2011-A-1, 0% 1/1/2042 |  | 2471 | 669 |
| Fort Mill School Dist., G.O. Bonds, Series 2013-A, 4.00% 3/1/2028 (preref. 3/1/2023) |  | 1475 | 1477 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 2.65% 7/1/2035 |  | 1120 | 1021 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2017-B, 4.00% 7/1/2047 |  | 775 | 781 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2018-A, 4.50% 7/1/2048 |  | 990 | 1010 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2019-B, 3.75% 1/1/2050 |  | 10840 | 10949 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2020-A, 4.00% 7/1/2050 |  | 1045 | 1062 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 4400 | 4329 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 7/1/2036 |  | 1865 | 1880 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2014-A-1, 4.00% 7/1/2041 |  | 270 | 271 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (James Lewis, Jr. Eastside Apartments), Series 2021-B, 0.30% 9/1/2024 (put 3/1/2024) |  | 2585 | 2486 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (The Sullivan), Series 2021-B, 0.34% 4/1/2025 (put 4/1/2024) |  | 2260 | 2168 |
| Housing Fin. and Dev. Auth., Multi Family Housing Rev. Bonds (Villages at Congaree Pointe Project), Series 2021-B, 1.25% 6/1/2025 (put 6/1/2024) |  | 3700 | 3596 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 4.00% 4/1/2034 |  | 605 | 545 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 5.00% 4/1/2044 |  | 1280 | 1203 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 4.00% 4/1/2049 |  | 620 | 465 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 5.00% 4/1/2049 |  | 4030 | 3710 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 4.00% 4/1/2054 |  | 1165 | 847 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 5.00% 4/1/2054 |  | 3500 | 3177 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Custodial Receipts), Series 2018, 5.00% 8/15/2036 (preref. 8/15/2026)<sup>1,3</sup> |  | 12100 | 13168 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2026<sup>1</sup> |  | 1145 | 1155 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2036<sup>1</sup> |  | 2500 | 2418 |
| Jobs-Econ. Dev. Auth., Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 12/1/2044 |  | 9800 | 9548 |
| Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-A, 5.00% 5/1/2048 |  | 15450 | 15998 |
| Jobs-Econ. Dev. Auth., Lease Rev. Bonds (SPE Fayssoux Properties, LLC Project), Series 2016-A, 5.25% 8/15/2033 |  | 1450 | 1532 |
| Jobs-Econ. Dev. Auth., Retirement Community Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2018-C, 5.00% 11/15/2047 |  | 1090 | 1090 |
| City of Myrtle Beach, Tax Increment Rev. Ref. Bonds (Myrtle Beach Air Force Base Redev. Project Area), Series 2016, 5.00% 10/1/2028 |  | 1210 | 1314 |
| Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 10/1/2048 (put 2/1/2024) |  | 11000 | 11072 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2040 |  | 5845 | 6241 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 4.00% 12/1/2041 |  | 5640 | 5561 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 4.00% 12/1/2042 |  | 6840 | 6716 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2043 |  | 7750 | 8207 |
| Public Service Auth., Improvement Rev. Obligations, Series 2021-B, 5.00% 12/1/2051 |  | 6890 | 7147 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2034 |  | 900 | 945 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2035 |  | 6965 | 7234 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2035 |  | 1090 | 1138 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2036 |  | 13800 | 14287 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2036 |  | 1885 | 1961 |

---

186 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **South Carolina (continued)** |  |  |  |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2037 | USD | 500 | $519 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2041 |  | 15000 | 15442 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2021-B, 4.00% 12/1/2047 |  | 3570 | 3410 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2056 |  | 2930 | 2964 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2026 |  | 820 | 862 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2028 |  | 4495 | 4713 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2028 |  | 2730 | 2944 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2029 |  | 100 | 105 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2029 |  | 2395 | 2550 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2030 |  | 3010 | 3220 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2031 |  | 2620 | 2770 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2034 |  | 5960 | 6222 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2034 |  | 3625 | 3807 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2035 |  | 4270 | 4458 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 4.00% 12/1/2038 |  | 5195 | 5200 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 4.00% 12/1/2042 |  | 5000 | 4910 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2014-C, 4.00% 12/1/2045 |  | 470 | 454 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 4.00% 12/1/2047 |  | 75000 | 71628 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 4.00% 12/1/2052 |  | 37000 | 34663 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-A, 4.00% 12/1/2055 |  | 32260 | 30032 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-B, 4.00% 12/1/2055 |  | 14997 | 13961 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2022-B, 4.00% 12/1/2055 |  | 11906 | 11084 |
| City of Spartanburg, Housing Auth., Multi Family Housing Rev. Bonds (Hickory Heights and Oakland Apartments Project), Series 2021, 0.29% 10/1/2024 (put 10/1/2023) |  | 2780 | 2755 |
| University of South Carolina, Athletic Facs. Improvement and Rev. Ref. Bonds, Series 2022-A, 4.00% 5/1/2047 |  | 1540 | 1545 |
| University of South Carolina, Athletic Facs. Improvement and Rev. Ref. Bonds, Series 2022-A, 5.00% 5/1/2052 |  | 2030 | 2243 |
| University of South Carolina, Higher Education Rev. Bonds (Campus Village Project), Series 2021-A, 5.00% 5/1/2040 |  | 6740 | 7568 |
|  |  |  | **400112** |
| **South Dakota 0.36%** |  |  |  |
| Health and Educational Facs. Auth., Rev. Bonds (Monument Health), Series 2020-A, 4.00% 9/1/2050 |  | 3000 | 2952 |
| Health and Educational Facs. Auth., Rev. Bonds (Sanford), Series 2014-B, 5.00% 11/1/2025 |  | 600 | 625 |
| Health and Educational Facs. Auth., Rev. Bonds (Sanford), Series 2014-B, 5.00% 11/1/2026 |  | 700 | 730 |
| Health and Educational Facs. Auth., Rev. Bonds (Sanford), Series 2014-A, 4.00% 11/1/2034 |  | 7350 | 7396 |
| Health and Educational Facs. Auth., Rev. Bonds (Sanford), Series 2015, 4.00% 11/1/2040 |  | 1750 | 1737 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (Avera Health Issue), Series 2017, 4.00% 7/1/2042 |  | 3000 | 2947 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-E, 4.00% 5/1/2044 |  | 555 | 556 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2015-D, 4.00% 11/1/2045 |  | 2055 | 2064 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-B, 3.50% 11/1/2046 |  | 2945 | 2942 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2016-D, 3.50% 11/1/2046 |  | 4330 | 4325 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2017-D, 4.00% 11/1/2047 |  | 3270 | 3296 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-A, 4.00% 11/1/2048 |  | 10750 | 10839 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2018-B, 4.50% 11/1/2048 |  | 4520 | 4620 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2019-B, 4.00% 5/1/2049 |  | 4705 | 4756 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2020-A, 3.75% 11/1/2050 |  | 7980 | 8040 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2020-C, 3.50% 5/1/2051 |  | 7900 | 7912 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 11/1/2051 |  | 7720 | 7602 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2022-C, 5.00% 5/1/2053 |  | 600 | 638 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2023-A, 6.00% 5/1/2054 |  | 5750 | 6426 |
|  |  |  | **80403** |
| **Tennessee 0.96%** |  |  |  |
| Chattanooga-Hamilton County Hospital Auth., Hospital Rev. Ref. Bonds (Erlanger Health System), Series 2014-A, 5.00% 10/1/2034 |  | 150 | 153 |
| Chattanooga-Hamilton County Hospital Auth., Hospital Rev. Ref. Bonds (Erlanger Health System), Series 2014, 5.00% 10/1/2039 |  | 4420 | 4475 |
| Town of Greeneville, Health and Educational Facs. Board, Hospital Rev. Bonds (Ballad Health), Series 2018-A, 5.00% 7/1/2035 |  | 3425 | 3690 |
| Town of Greeneville, Health and Educational Facs. Board, Hospital Rev. Bonds (Ballad Health), Series 2018-A, 4.00% 7/1/2040 |  | 6000 | 5891 |

---

American Funds Tax-Exempt Funds 187

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Tennessee (continued)** |  |  |  |
| Housing Dev. Agcy., Homeownership Program Bonds, Series 2015-A, 3.50% 7/1/2045 | USD | 2590 | $2590 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-1-C, 3.00% 7/1/2038 |  | 100 | 100 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-1, 4.00% 7/1/2042 |  | 380 | 383 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2018-1, 4.00% 1/1/2043 |  | 3790 | 3826 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-C, 4.00% 1/1/2045 |  | 500 | 502 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, 4.00% 7/1/2045 |  | 490 | 492 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, 4.00% 1/1/2046 |  | 710 | 714 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2016-1-B, 3.50% 1/1/2047 |  | 445 | 445 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2017-3, 3.50% 1/1/2048 |  | 3380 | 3375 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-2, 4.00% 1/1/2048 |  | 13880 | 14115 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2018-2, 4.00% 1/1/2049 |  | 6835 | 6906 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2018-3, 4.25% 7/1/2049 |  | 5410 | 5489 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-4, 3.50% 1/1/2050 |  | 19615 | 19654 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2019-1, 4.25% 1/1/2050 |  | 4945 | 5031 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2020-1-A, 3.50% 7/1/2050 |  | 2635 | 2640 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2021-1, 3.00% 7/1/2051 |  | 3550 | 3500 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2021-2, 3.00% 1/1/2052 |  | 17295 | 17029 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2022-2, 5.00% 1/1/2053 |  | 475 | 502 |
| City of Memphis, Sanitary Sewage System Rev. Ref. Bonds, Series 2020-B, 5.00% 10/1/2045 |  | 1000 | 1111 |
| Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2021-A, 5.00% 7/1/2031 |  | 3350 | 3783 |
| Metropolitan Government of Nashville and Davidson County, Health and Educational Facs. Board, Rev. Bonds (Vanderbilt University Medical Center), Series 2017-A, 5.00% 7/1/2048 |  | 750 | 767 |
| Metropolitan Government of Nashville and Davidson County, Water & Sewer Rev. Bonds, Series 2017-B, 5.00% 7/1/2042 |  | 5000 | 5379 |
| Metropolitan Government of Nashville and Davidson County, Water & Sewer Rev. Bonds, Series 2017-B, 5.00% 7/1/2046 |  | 5000 | 5345 |
| Metropolitan Government of Nashville and Davidson County, Water & Sewer Rev. Green Bonds, Series 2017-A, 5.00% 7/1/2046 |  | 4000 | 4276 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, 5.00% 7/1/2052 |  | 1000 | 1094 |
| Metropolitan Nashville Airport Auth., Airport Rev. Bonds, Series 2019-A, 5.00% 7/1/2044 |  | 8000 | 8620 |
| Metropolitan Nashville Airport Auth., Airport Rev. Bonds, Series 2019-A, 4.00% 7/1/2054 |  | 5000 | 4878 |
| Metropolitan Nashville Airport Auth., Airport Rev. Bonds, Series 2019-A, 5.00% 7/1/2054 |  | 4000 | 4244 |
| Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 5/1/2052 (put 11/1/2031) |  | 35025 | 37583 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2006-C, 5.00% 2/1/2027 |  | 1890 | 1954 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2018, 4.00% 11/1/2049<sup>2</sup> |  | 8000 | 8040 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2023-A-1, 5.00% 5/1/2053 (put 5/1/2028) |  | 27865 | 29155 |
|  |  |  | **217731** |
| **Texas 8.71%** |  |  |  |
| Affordable Housing Corp., Single Family Mortgage Rev. Bonds, Series 2023-A, 5.50% 9/1/2053 |  | 6000 | 6585 |
| Affordable Housing Corp., Single Family Mortgage Rev. Bonds (Texas Heroes Home Loan Program), Series 2019-A, 4.25% 3/1/2049 |  | 1140 | 1159 |
| Alamo Community College Dist., Limited Tax Bonds, Series 2021, 4.00% 8/15/2036 |  | 3000 | 3163 |
| Aledo Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016, 5.00% 2/15/2036 |  | 1000 | 1073 |
| Alvarado Independent School Dist., Unlimited Tax School Building Bonds, Series 2013, 5.00% 2/15/2043 (preref. 8/15/2023) |  | 3235 | 3279 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Harmony Public Schools), Series 2017-A, 5.00% 2/15/2027 |  | 1210 | 1322 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Harmony Public Schools), Series 2017-A, 5.00% 2/15/2042 |  | 2000 | 2129 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2034 |  | 650 | 712 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2036 |  | 915 | 992 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2037 |  | 1445 | 1559 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Uplift Education), Series 2017-A, 5.00% 12/1/2047 |  | 2625 | 2802 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2023 |  | 150 | 152 |

---

188 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2024 | USD | 185 | $191 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 5.00% 8/15/2025 |  | 195 | 206 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 4.00% 8/15/2034 |  | 330 | 346 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 4.00% 8/15/2035 |  | 1000 | 1035 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 4.00% 8/15/2036 |  | 385 | 393 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 4.00% 8/15/2038 |  | 900 | 915 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Great Hearts America - Texas), Series 2019-A, 4.00% 8/15/2039 |  | 470 | 478 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 3.00% 8/15/2032 |  | 1000 | 1013 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 4.00% 8/15/2034 |  | 1000 | 1061 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 4.00% 8/15/2035 |  | 1000 | 1044 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 4.00% 8/15/2037 |  | 1000 | 1022 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Responsive Education Solutions), Series 2021-A, 3.00% 8/15/2051 |  | 9545 | 7430 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2023 |  | 325 | 329 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2024 |  | 325 | 337 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2019, 5.00% 8/15/2032 |  | 600 | 692 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2022, 5.00% 8/15/2047 |  | 4050 | 4444 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Riverwalk Education Foundation, Inc.), Series 2022, 5.00% 8/15/2057 |  | 25370 | 27220 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 2.75% 12/1/2026 |  | 665 | 649 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2036 |  | 1000 | 1033 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2018-A, 5.00% 12/1/2037 |  | 725 | 775 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2017-B, 5.00% 12/1/2042 |  | 4165 | 4469 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2046 |  | 1100 | 1118 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2018-A, 5.00% 12/1/2048 |  | 3345 | 3562 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2019-A, 4.00% 12/1/2049 |  | 1725 | 1698 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-C, BAM insured, 5.00% 2/15/2029 |  | 1500 | 1670 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-C, BAM insured, 5.00% 2/15/2030 |  | 1000 | 1113 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-C, BAM insured, 5.00% 2/15/2031 |  | 1100 | 1224 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-C, BAM insured, 5.00% 2/15/2032 |  | 1000 | 1109 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2/15/2035 |  | 2245 | 2471 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2/15/2038 |  | 1000 | 1075 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2/15/2043 |  | 11495 | 12196 |
| Austin Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2017, 5.00% 8/1/2030 |  | 3000 | 3259 |
| Austin Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2017, 5.00% 8/1/2037 |  | 2660 | 2863 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2032 |  | 1100 | 1205 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2033 |  | 2220 | 2427 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2034 |  | 2000 | 2173 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2035 |  | 1125 | 1215 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2036 |  | 3605 | 3875 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2037 |  | 2000 | 2141 |
| City of Austin, Airport System Rev. Bonds, Series 2017-A, 5.00% 11/15/2041 |  | 2500 | 2642 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2028 |  | 1000 | 1073 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2017, 5.00% 11/15/2031 |  | 1130 | 1237 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2017, 5.00% 11/15/2032 |  | 1000 | 1094 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2017, 5.00% 11/15/2033 |  | 1000 | 1092 |

---

American Funds Tax-Exempt Funds 189

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2019-B, 5.00% 11/15/2044 | USD | 6000 | $6539 |
| City of Austin, Electric Utility System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2045 |  | 1500 | 1557 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2015-A, 3.00% 5/15/2027 |  | 1705 | 1715 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2028 |  | 1000 | 1101 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2029 |  | 3000 | 3302 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2032 |  | 4405 | 4824 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2035 |  | 8185 | 8853 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2017, 5.00% 11/15/2035 |  | 4000 | 4401 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2021, 4.00% 11/15/2036 |  | 1565 | 1641 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2036 |  | 1000 | 1059 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2036 |  | 6985 | 7527 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2017, 5.00% 11/15/2037 |  | 5000 | 5460 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2014, 5.00% 11/15/2039 |  | 600 | 616 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2021, 4.00% 11/15/2041 |  | 1750 | 1772 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2041 |  | 5000 | 5330 |
| City of Austin, Water and Wastewater System Rev. Ref. Bonds, Series 2016, 5.00% 11/15/2045 |  | 11795 | 12499 |
| County of Bell, Combination Tax and Rev. Certs. of Obligation, Series 2021, 3.00% 2/15/2036 |  | 500 | 484 |
| County of Bell, Combination Tax and Rev. Certs. of Obligation, Series 2021, 3.00% 2/15/2037 |  | 1000 | 926 |
| County of Bexar, Combination Tax and Rev. Certs. of Obligation, Series 2021, 4.00% 6/15/2044 |  | 3500 | 3529 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2018, 5.00% 2/15/2028 |  | 1100 | 1211 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2018, 5.00% 2/15/2033 |  | 2000 | 2179 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2022, 5.00% 2/15/2034 |  | 3105 | 3658 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2018, 5.00% 2/15/2035 |  | 6155 | 6644 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2018, 5.00% 2/15/2036 |  | 10150 | 10889 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2022, 5.00% 2/15/2036 |  | 2745 | 3161 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2022, 5.00% 2/15/2037 |  | 1780 | 2033 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2020, 4.00% 2/15/2039 |  | 2220 | 2254 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2020, 4.00% 2/15/2040 |  | 1500 | 1523 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2020, 5.00% 2/15/2045 |  | 2500 | 2690 |
| County of Bexar, Hospital Dist., Certs. of Obligation, Series 2022, 4.25% 2/15/2052 |  | 6000 | 6080 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2034 |  | 1750 | 1933 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2020, 4.00% 2/15/2037 |  | 1500 | 1547 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2020, 4.00% 2/15/2038 |  | 3000 | 3067 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2019, 5.00% 2/15/2038 |  | 4200 | 4546 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2020, 4.00% 2/15/2039 |  | 1500 | 1523 |
| County of Bexar, Hospital Dist., Limited Tax Rev. Ref. Bonds, Series 2020, 4.00% 2/15/2040 |  | 2150 | 2183 |
| County of Bexar, Limited Tax Rev. Ref. Bonds, Series 2017, 5.00% 6/15/2043 (preref. 6/15/2026) |  | 5000 | 5463 |
| City of Brownsville, Utilities System Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 9/1/2027 |  | 1965 | 2138 |
| City of Bryan, Electric System Rev. Bonds, Series 2018, 4.00% 7/1/2043 |  | 4285 | 4226 |
| City of Bryan, Electric System Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 7/1/2027 |  | 700 | 760 |
| City of Bryan, Electric System Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 7/1/2028 |  | 1405 | 1525 |
| City of Bryan, Electric System Rev. Ref. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 7/1/2029 |  | 645 | 711 |
| City of Bryan, Electric System Rev. Ref. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 7/1/2030 |  | 1000 | 1100 |
| Central Texas Regional Mobility Auth., Rev. Bonds, Series 2021-B, 4.00% 1/1/2051 |  | 1315 | 1275 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2031 (preref. 7/1/2025) |  | 1000 | 1065 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2033 (preref. 7/1/2025) |  | 1000 | 1065 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2034 (preref. 7/1/2025) |  | 1500 | 1598 |
| Central Texas Regional Mobility Auth., Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2040 (preref. 7/1/2025) |  | 5845 | 6226 |
| Clifton Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Idea Public Schools), Series 2016-A, 5.00% 8/15/2046 |  | 2000 | 2095 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2016-B, 5.00% 8/15/2024 |  | 260 | 268 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2016-B, 5.00% 8/15/2028 |  | 405 | 433 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2012, 5.00% 8/15/2032 |  | 4830 | 4839 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 4.00% 8/15/2033 |  | 2125 | 2259 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2013, 6.00% 8/15/2033 |  | 250 | 254 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 4.00% 8/15/2034 |  | 2300 | 2427 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 4.00% 8/15/2041 |  | 1400 | 1404 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2021-T, 4.00% 8/15/2042 |  | 1400 | 1398 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2019, 4.00% 8/15/2044 |  | 5000 | 5046 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 4.00% 8/15/2047 |  | 4280 | 4058 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2018, 5.00% 8/15/2048 |  | 6470 | 6878 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2022-A, 4.00% 8/15/2051 |  | 3100 | 2893 |

---

190 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (International Leadership of Texas, Inc.), Series 2021, 5.00% 8/15/2028 | USD | 500 | $565 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2015-A, 5.00% 12/1/2035 |  | 100 | 102 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2014-A, 4.50% 12/1/2044 |  | 1465 | 1451 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2014-A, 4.60% 12/1/2049 |  | 3455 | 3416 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Yes Prep Public Schools, Inc.), Series 2020, 5.00% 4/1/2027 |  | 560 | 617 |
| Conroe Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2016, 5.00% 2/15/2038 |  | 560 | 596 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2036 |  | 1000 | 1109 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2037 |  | 1945 | 2147 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2038 |  | 1775 | 1953 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2043 |  | 9240 | 9988 |
| Port of Corpus Christi Auth. of Nueces County, Rev. Bonds, Series 2018-A, 5.00% 12/1/2048 |  | 10000 | 10720 |
| Cypress-Fairbanks Independent School Dist., Unlimited Tax School Building Bonds, Series 2022-A, 5.00% 2/15/2029 |  | 1000 | 1157 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. Bonds, Series 2021-A, 4.00% 11/1/2037 |  | 9225 | 9428 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. Bonds, Series 2022-B, 5.00% 11/1/2037 |  | 2000 | 2334 |
| Cities of Dallas and Fort Worth, Dallas/Fort Worth International Airport, Joint Rev. Ref. Bonds, Series 2022-B, 5.00% 11/1/2040 |  | 5125 | 5838 |
| City of Dallas, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021, 4.00% 8/15/2034 |  | 2000 | 2028 |
| City of Dallas, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021, 4.00% 8/15/2036 |  | 1000 | 1004 |
| City of Dallas, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021, 4.00% 8/15/2037 |  | 1250 | 1251 |
| City of Dallas, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021, 4.00% 8/15/2038 |  | 1000 | 995 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2016-A, 5.00% 10/1/2036 |  | 5400 | 5820 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2017, 5.00% 10/1/2042 |  | 8700 | 9360 |
| City of Dallas, Waterworks and Sewer System Rev. Ref. Bonds, Series 2017, 5.00% 10/1/2046 |  | 7250 | 7756 |
| Dallas Area Rapid Transit Sales Tax Rev. Bonds, Series 2020-B, 5.00% 12/1/2023 |  | 2000 | 2041 |
| Dallas Area Rapid Transit Sales Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 12/1/2031 |  | 1130 | 1184 |
| Dallas Area Rapid Transit Sales Tax Rev. Ref. Bonds, Series 2019, 5.00% 12/1/2034 |  | 2500 | 2880 |
| Dallas Area Rapid Transit Sales Tax Rev. Ref. Bonds, Series 2016-A, 5.00% 12/1/2046 (preref. 12/1/2025) |  | 3000 | 3228 |
| Dallas Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 8/15/2034 (preref. 8/15/2024) |  | 1000 | 1040 |
| Dallas Independent School Dist., Unlimited Tax School Building Bonds, Series 2016-A, 4.00% 2/15/2030 |  | 750 | 776 |
| City of Dallas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Midpark Towers), Series 2021, 0.35% 1/1/2024 (put 7/1/2023) |  | 6000 | 5911 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 4.00% 8/15/2037 |  | 700 | 723 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-B, 4.00% 8/15/2038 |  | 1000 | 1018 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 4.00% 8/15/2039 |  | 750 | 762 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 4.00% 8/15/2040 |  | 1000 | 1016 |
| Del Mar College Dist., Limited Tax Bonds, Series 2020-A, 4.00% 8/15/2045 |  | 2500 | 2517 |
| City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 12/1/2029 |  | 3500 | 3822 |
| City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 12/1/2033 |  | 14180 | 15372 |
| City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 12/1/2035 |  | 6775 | 7260 |
| City of Denton, Utility System Rev. Bonds, Series 2017, 5.00% 12/1/2036 |  | 7500 | 8008 |
| Denton Independent School Dist., Unlimited Tax School Building Bonds, Series 2015-A, 5.00% 8/15/2045 |  | 1000 | 1063 |
| Duncanville Independent School Dist., Unlimited Tax School Building Bonds, Series 2015, 5.00% 2/15/2045 (preref. 2/15/2025) |  | 5390 | 5660 |
| City of El Paso, Combination Tax and Rev. Certs. of Obligation, Series 2021-A, 4.00% 8/15/2040 |  | 1000 | 1009 |
| City of El Paso, Combination Tax and Rev. Certs. of Obligation, Series 2021-A, 4.00% 8/15/2041 |  | 1000 | 1004 |
| City of El Paso, Combination Tax and Rev. Certs. of Obligation, Series 2021-A, 4.00% 8/15/2044 |  | 1570 | 1571 |
| City of El Paso, Combination Tax and Rev. Certs. of Obligation, Series 2021-A, 4.00% 8/15/2047 |  | 1750 | 1735 |
| El Paso Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 5.00% 8/15/2025 |  | 1000 | 1068 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-A, 4.75% 5/1/2038 |  | 1750 | 1750 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-B, 4.75% 11/1/2042 |  | 8340 | 8340 |
| Fort Bend Grand Parkway Toll Road Auth., Limited Contract Tax and Toll Road Rev. Ref. Bonds, Series 2021-A, 3.00% 3/1/2034 |  | 1500 | 1508 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2018, 5.00% 8/15/2027 |  | 1080 | 1210 |
| Fort Bend Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2021-B, 0.72% 8/1/2051 (put 8/1/2026) |  | 3205 | 2902 |

---

American Funds Tax-Exempt Funds 191

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Fort Bend Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020-B, 0.875% 8/1/2050 (put 8/1/2025) | USD | 2360 | $2232 |
| Fort Bend Independent School Dist., Unlimited Tax School Building Bonds, Series 2021-A, 4.00% 8/15/2032 |  | 750 | 827 |
| Fort Bend Independent School Dist., Unlimited Tax School Building Bonds, Series 2021-A, 4.00% 8/15/2033 |  | 705 | 774 |
| Fort Bend Independent School Dist., Unlimited Tax School Building Bonds, Series 2021-A, 4.00% 8/15/2034 |  | 1000 | 1086 |
| G.O. Water Financial Assistance Bonds (Water Infrastructure Fund), Series 2013-B, 5.00% 8/1/2026 |  | 1600 | 1622 |
| Galveston Public Fac. Corp., Multi Family Housing Rev. Bonds (The Orleanders at Broadway), Series 2021, 0.47% 8/1/2025 (put 8/1/2024) |  | 1875 | 1791 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 4.00% 3/1/2046 |  | 1900 | 1860 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2019, 4.00% 3/1/2049 |  | 1200 | 1162 |
| City of Garland, Electric Utility System Rev. Ref. Bonds, Series 2021-A, 4.00% 3/1/2051 |  | 2250 | 2163 |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Bonds, Series 2013-B, 5.00% 4/1/2053 (preref. 10/1/2023) |  | 11050 | 11234 |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-C, 4.00% 10/1/2045 |  | 10000 | 9940 |
| Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-C, 4.00% 10/1/2049 |  | 8480 | 8286 |
| Harlandale Independent School Dist., Maintenance Tax Notes, Series 2021, BAM insured, 2.00% 8/15/2040 (put 8/15/2024) |  | 1520 | 1505 |
| Harlandale Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2020, 0.75% 8/15/2045 (put 8/15/2025) |  | 1000 | 957 |
| County of Harris, Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2020, 5.00% 6/1/2024 |  | 1250 | 1288 |
| County of Harris, Metropolitan Transit Auth., Sales and Use Tax Bonds, Series 2019-A, 5.00% 11/1/2037 |  | 3170 | 3585 |
| County of Harris, Permanent Improvement Rev. Ref. Bonds, Series 2021-A, 4.00% 10/1/2036 |  | 1380 | 1464 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 11/15/2028 |  | 1500 | 1550 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 11/15/2053 |  | 1350 | 1366 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2020-A, Assured Guaranty Municipal insured, 3.125% 11/15/2056 |  | 1000 | 777 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2024 |  | 2000 | 2079 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2031 |  | 5000 | 5647 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2032 |  | 4640 | 5221 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2033 |  | 2000 | 2246 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 5.00% 8/15/2043 |  | 3000 | 3210 |
| County of Harris, Toll Road Rev. and Rev. Ref. Bonds, Series 2018-A, 4.00% 8/15/2048 |  | 9500 | 9428 |
| County of Harris, Toll Road Rev. Ref. Bonds, Series 2016-A, 5.00% 8/15/2033 |  | 1220 | 1325 |
| County of Harris, Toll Road Rev. Ref. Bonds, Series 2016-A, 5.00% 8/15/2041 |  | 2000 | 2115 |
| County of Harris, Toll Road Rev. Ref. Bonds, Series 2021, 4.00% 8/15/2045 |  | 5000 | 4942 |
| County of Harris, Toll Road Rev. Ref. Bonds, Series 2016-A, 5.00% 8/15/2047 |  | 7300 | 7673 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), Series 2013-A, 5.00% 1/1/2033 |  | 1560 | 1488 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), Series 2016, 5.00% 1/1/2048 |  | 16455 | 14283 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2020, 5.00% 6/1/2023 |  | 385 | 388 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2014-A, 5.00% 12/1/2025 |  | 2800 | 2927 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2019-A, 5.00% 12/1/2025 |  | 1000 | 1067 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2019-A, 5.00% 12/1/2026 |  | 2500 | 2728 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2014-A, 5.00% 12/1/2027 |  | 2800 | 2923 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Memorial Hermann Health System), Series 2022-A, 4.125% 7/1/2052 |  | 6000 | 6011 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2015, 5.00% 10/1/2028 |  | 1000 | 1065 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2015, 5.00% 10/1/2032 |  | 1000 | 1060 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2019-A, 3.00% 10/1/2039 |  | 5000 | 4573 |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Texas Children's Hospital), Series 2019-B, 5.00% 10/1/2041 (put 10/1/2024) |  | 9610 | 9960 |

---

192 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Harris County Cultural Education Facs. Fin. Corp., Hospital Rev. Ref. Bonds (Memorial Hermann Health System), Series 2020-A, 4.30% 7/1/2040 | USD | 7575 | $7809 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Bonds (Texas Medical Center), Series 2020-A, 0.90% 5/15/2050 (put 5/15/2025) |  | 2140 | 2020 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 5.00% 11/15/2027 |  | 3100 | 3484 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 5.00% 11/15/2028 |  | 2600 | 2922 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 5.00% 11/15/2030 |  | 1820 | 2036 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 5.00% 11/15/2031 |  | 1250 | 1395 |
| Harris County Cultural Education Facs. Fin. Corp., Thermal Utility Rev. Ref. Bonds (TECO Project), Series 2017, 4.00% 11/15/2035 |  | 12045 | 12356 |
| Harris County Health Facs. Dev. Corp., Hospital Rev. Ref. Bonds (Houston Methodist Hospital), Series 2015, 5.00% 12/1/2045 |  | 3525 | 3598 |
| Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (CHRISTUS Health), Series 2005-A-4, Assured Guaranty Municipal insured, 3.39% 7/1/2031<sup>2</sup> |  | 7325 | 7325 |
| County of Hidalgo, Drainage Dist. No. 1, Unlimited Tax Improvement Bonds, Series 2019, 5.00% 9/1/2032 |  | 1900 | 2109 |
| Dept. of Housing and Community Affairs, Multi Family Housing Rev. Bonds (Palladium Simpson Stuart Apartments), Series 2021, 0.35% 1/1/2025 (put 1/1/2024) |  | 5625 | 5444 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2019-A, 4.75% 1/1/2049 |  | 4980 | 5118 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2021-A, 3.00% 1/1/2052 |  | 8425 | 8290 |
| Dept. of Housing and Community Affairs, Residential Mortgage Rev. Bonds, Series 2022-A, 3.50% 7/1/2052 |  | 11330 | 11364 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2017-A, 2.835% 9/1/2047 |  | 7867 | 7519 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2018-A, 4.75% 3/1/2049 |  | 2835 | 2903 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2019-A, 4.00% 3/1/2050 |  | 11830 | 12053 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 10570 | 10393 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-A, 5.50% 9/1/2052 |  | 5800 | 6377 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2022-B, 6.00% 3/1/2053 |  | 1300 | 1477 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021, 0.50% 8/1/2041 (put 3/1/2025) |  | 1905 | 1766 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2018-B, 5.00% 7/1/2028 |  | 1700 | 1938 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2018-B, 5.00% 7/1/2029 |  | 2400 | 2730 |
| City of Houston, Airport System Rev. and Rev. Ref. Bonds, Series 2018-B, 5.00% 7/1/2030 |  | 3825 | 4348 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2033 |  | 1000 | 1132 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2034 |  | 2270 | 2552 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2035 |  | 2000 | 2232 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2036 |  | 8000 | 8848 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2037 |  | 2500 | 2748 |
| City of Houston, Airport System Rev. Ref. Bonds, Series 2018-D, 5.00% 7/1/2038 |  | 2500 | 2737 |
| City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 4.00% 11/15/2031 |  | 8750 | 9193 |
| City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2034 |  | 5280 | 5724 |
| City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2035 |  | 12500 | 13473 |
| City of Houston, Combined Utility System Rev. and Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2036 |  | 5700 | 6121 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2030 |  | 1850 | 2113 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2032 |  | 2000 | 2275 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2020-A, 5.00% 11/15/2033 |  | 6245 | 7313 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2035 |  | 3900 | 4336 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2015-A, 5.00% 11/15/2036 |  | 12000 | 12661 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2036 |  | 5420 | 5993 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2038 |  | 10000 | 10984 |
| City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2018-D, 5.00% 11/15/2039 |  | 3475 | 3796 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2023 |  | 65 | 66 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2024 |  | 55 | 56 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2025 |  | 45 | 46 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2026 |  | 80 | 84 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2027 |  | 235 | 250 |

---

American Funds Tax-Exempt Funds 193

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2028 | USD | 115 | $123 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2029 |  | 160 | 172 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2030 |  | 165 | 179 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2031 |  | 265 | 289 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2028 |  | 3060 | 3272 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2029 |  | 1000 | 1066 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2030 |  | 1000 | 1066 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 1555 | 1657 |
| City of Houston, Downtown Redev. Auth., Tax Increment Contract Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2032 |  | 1000 | 1065 |
| City of Houston, Water and Sewer System Rev. Bonds, Capital Appreciation Bonds, Series 1998-A, Assured Guaranty Municipal insured, 0% 12/1/2028 |  | 16525 | 13989 |
| Houston Housing Fin. Corp., Multi Family Housing Rev. Bonds (Temenos Place Apartments), Series 2021, 0.29% 8/1/2024 (put 8/1/2023) |  | 2780 | 2730 |
| Houston Independent School Dist., Limited Tax Rev. Ref. Bonds, Series 2012, 4.00% 6/1/2029 (put 6/1/2023) |  | 2795 | 2808 |
| Houston Independent School Dist., Limited Tax Schoolhouse Bonds, Series 2017, 5.00% 2/15/2034 |  | 2000 | 2197 |
| Houston Independent School Dist., Limited Tax Schoolhouse Bonds, Series 2014-A-2, 3.50% 6/1/2039 (put 6/1/2025) |  | 3000 | 2995 |
| Houston Independent School Dist., Limited Tax Schoolhouse Rev. Ref. Bonds, Series 2016-A, 5.00% 2/15/2023 |  | 3015 | 3018 |
| Houston Independent School Dist., Limited Tax Schoolhouse Rev. Ref. Bonds, Series 2017, 5.00% 2/15/2042 |  | 2110 | 2251 |
| Humble Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2016-B, 5.00% 2/15/2027 |  | 7000 | 7574 |
| City of Irving, Hospital Auth., Hospital Rev. Bonds (Baylor Scott & White Medical Center - Irving), Series 2017-B, (SIFMA Municipal Swap Index + 1.11%) 2.76% 10/15/2044 (put 10/15/2023)<sup>2</sup> |  | 425 | 425 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2023 |  | 150 | 151 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2031 |  | 125 | 136 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2032 |  | 300 | 325 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2034 |  | 300 | 324 |
| City of Irving, Hotel Occupancy Tax Rev. Ref. Bonds, Series 2019, 5.00% 8/15/2043 |  | 1750 | 1803 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2033 |  | 345 | 373 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2034 |  | 360 | 385 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2035 |  | 375 | 395 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2036 |  | 780 | 814 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2037 |  | 810 | 835 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2038 |  | 845 | 860 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2039 |  | 880 | 894 |
| County of Kaufman, Limited Tax Bonds, Series 2020-A, 4.00% 2/15/2040 |  | 615 | 625 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2033 |  | 310 | 335 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2034 |  | 500 | 535 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2035 |  | 300 | 316 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2036 |  | 440 | 459 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2037 |  | 655 | 675 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2038 |  | 610 | 621 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2039 |  | 895 | 909 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2040 |  | 750 | 762 |
| County of Kaufman, Unlimited Tax Road Bonds, Series 2020, 4.00% 2/15/2045 |  | 1500 | 1509 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2023 |  | 1000 | 1011 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2030 |  | 1000 | 1043 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2035 |  | 3080 | 3186 |
| Lamar Consolidated Independent School Dist., Unlimited Tax Schoolhouse Rev. Ref. Bonds, Series 2021-A, 5.00% 2/15/2023 |  | 555 | 555 |
| Laredo Unified School Dist., Unlimited Tax School Building Bonds, Series 2018, 5.00% 8/1/2036 |  | 1205 | 1325 |

---

194 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Leander Independent School Dist., Unlimited Tax School Building Bonds, Capital Appreciation Bonds, Series 2014-C, 0% 8/15/2037 (preref. 8/15/2024) | USD | 1175 | $578 |
| Leander Independent School Dist., Unlimited Tax School Building Bonds, Capital Appreciation Bonds, Series 2014-C, 0% 8/15/2043 (preref. 8/15/2024) |  | 14860 | 5219 |
| Lewisville Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 4.00% 8/15/2036 |  | 3000 | 3146 |
| Lone Star College System, Limited Tax G.O. Bonds, Series 2017-A, 5.00% 8/15/2032 |  | 1000 | 1100 |
| Los Fresnos Consolidated Independent School Dist., Unlimited Tax School Buildings Bonds, Series 2021, 4.00% 8/15/2051 |  | 1000 | 999 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2015-D, 5.00% 5/15/2029 |  | 2150 | 2265 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2015-D, 5.00% 5/15/2031 |  | 3000 | 3149 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2036 |  | 2000 | 2245 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2037 |  | 2000 | 2225 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2038 |  | 2000 | 2205 |
| Lower Colorado River Auth., Rev. Ref. Bonds, Series 2020, 5.00% 5/15/2040 |  | 4415 | 4821 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2015, 5.00% 5/15/2024 |  | 880 | 907 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2025 |  | 750 | 772 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2013-A, 5.00% 5/15/2027 |  | 3500 | 3522 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2016, 5.00% 5/15/2027 |  | 1000 | 1080 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2016, 5.00% 5/15/2029 |  | 1525 | 1643 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2019, 5.00% 5/15/2030 |  | 2500 | 2855 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020, 5.00% 5/15/2031 |  | 1000 | 1141 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2032 |  | 3700 | 4140 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2033 |  | 1250 | 1396 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2033 |  | 1000 | 1157 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2016, 4.00% 5/15/2034 |  | 1300 | 1329 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2034 |  | 1240 | 1379 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020, 5.00% 5/15/2034 |  | 1500 | 1698 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2016, 4.00% 5/15/2035 |  | 850 | 867 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2013-A, 5.00% 5/15/2036 |  | 6000 | 6026 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2036 |  | 1000 | 1122 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2037 |  | 1000 | 1113 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2019, 5.00% 5/15/2038 |  | 1000 | 1063 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2038 |  | 1585 | 1748 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2019, 5.00% 5/15/2039 |  | 1000 | 1059 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2039 |  | 1565 | 1715 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2015, 5.00% 5/15/2040 |  | 1500 | 1543 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020, 5.00% 5/15/2040 |  | 810 | 875 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2040 |  | 2000 | 2184 |

---

American Funds Tax-Exempt Funds 195

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2018, 5.00% 5/15/2043 | USD | 3250 | $3452 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2015, 5.00% 5/15/2045 |  | 5000 | 5112 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2045 |  | 1140 | 1226 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2016, 5.00% 5/15/2046 |  | 4000 | 4149 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2019-A, 4.00% 5/15/2049 |  | 5000 | 4776 |
| Lower Colorado River Auth., Transmission Contract Rev. Ref. Bonds (LCRA Transmission Services Corp. Project), Series 2020-A, 5.00% 5/15/2050 |  | 7500 | 8010 |
| Mansfield Independent School Dist., Unlimited Tax School Building Bonds, Series 2012, 3.00% 8/1/2036 |  | 2850 | 2773 |
| Mansfield Independent School Dist., Unlimited Tax School Building Bonds, Series 2012, 3.00% 8/1/2037 |  | 2920 | 2769 |
| Mansfield Independent School Dist., Unlimited Tax School Building Bonds, Series 2019-A, 5.00% 2/15/2039 |  | 3955 | 4262 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (AEP Texas Central Co. Project), Series 2005-A, AMBAC insured, 4.40% 5/1/2030 |  | 3475 | 3678 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (Central Power and Light Co. Project), Series 2001-A, 2.60% 11/1/2029 |  | 1675 | 1542 |
| County of Maverick, Limited Tax Rev. Ref. Bonds, Series 2016, 7.00% 3/1/2034 (preref. 3/1/2023) |  | 6350 | 6372 |
| Medina Valley Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 0.82% 2/15/2051 (put 2/15/2026) |  | 3470 | 3201 |
| Municipal Gas Acquisition and Supply Corp. I, Gas Supply Rev. Bonds, Series 2008-D, 6.25% 12/15/2026 |  | 2540 | 2700 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-B, (SIFMA Municipal Swap Index + 0.55%) 2.21% 9/15/2027<sup>2</sup> |  | 7565 | 7385 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-A, (3-month USD-LIBOR x 0.66 + 0.69%) 3.837% 9/15/2027<sup>2</sup> |  | 53910 | 53407 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-A, (3-month USD-LIBOR + 0.87%) 4.065% 9/15/2027<sup>2</sup> |  | 24505 | 24431 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2027 |  | 7270 | 7683 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2029 |  | 6000 | 6380 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2030 |  | 9500 | 10140 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2031 |  | 12010 | 12859 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2032 |  | 15035 | 16148 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2030 |  | 1000 | 1009 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2032 |  | 1565 | 1568 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2034 |  | 1250 | 1217 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2038 |  | 1000 | 895 |
| Municipal Power Agcy., Transmission System Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 9/1/2046 |  | 1000 | 784 |
| Nacarro Independent School Dist., Unlimited Tax School Building Bonds, Series 2022, 4.00% 2/15/2057 |  | 2500 | 2456 |
| Nacogdoches Independent School Dist., Unlimited Tax School Building Bonds, Series 2019, 5.00% 2/15/2049 |  | 2610 | 2832 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2036<sup>1</sup> |  | 1000 | 905 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2041<sup>1</sup> |  | 1245 | 1059 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2046<sup>1</sup> |  | 1430 | 1154 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2051<sup>1</sup> |  | 1025 | 796 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2056<sup>1</sup> |  | 2490 | 1869 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series 2017-A, 4.00% 8/15/2033 |  | 6000 | 6204 |
| New Hope Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Children's Health System of Texas Project), Series 2017-A, 5.00% 8/15/2047 |  | 4000 | 4158 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (MRC Crestview Project), Series 2016, 5.00% 11/15/2036 (preref. 11/15/2024) |  | 350 | 371 |

---

196 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (MRC Crestview Project), Series 2016, 5.00% 11/15/2046 (preref. 11/15/2024) | USD | 200 | $212 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, 5.50% 1/1/2043 |  | 1000 | 883 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, 5.50% 1/1/2049 |  | 1550 | 1329 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2026 |  | 1000 | 1025 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2031 |  | 1615 | 1636 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2040 |  | 4300 | 4311 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2021, 4.00% 11/1/2049 |  | 3400 | 2694 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2021, 4.00% 11/1/2055 |  | 8225 | 6270 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Island Campus, LLC - Texas A&M University-Corpus Christi Island Campus Project), Series 2017-A, 5.00% 4/1/2037 (preref. 4/1/2027) |  | 1500 | 1658 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Island Campus, LLC - Texas A&M University-Corpus Christi Island Campus Project), Series 2017-A, 5.00% 4/1/2042 (preref. 4/1/2027) |  | 875 | 967 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Stephenville II, LLC - Tarleton State University Project), Series 2014-A, 5.00% 4/1/2046 |  | 1500 | 1542 |
| Newark Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Austin Achieve Public School, Inc.), Series 2022, 4.00% 6/15/2052 |  | 2000 | 1992 |
| Newark Higher Education Fin. Corp., Rev. Improvement and Rev. Ref. Bonds (Abilene Christian University Project), Series 2022-A, 4.00% 4/1/2057 |  | 31770 | 29169 |
| North Central Texas Housing Fin. Corp., Multi Family Housing Rev. Bonds (Bluebonnet Ridge Apartments), Series 2021, 0.375% 8/1/2040 (put 8/1/2024) |  | 995 | 944 |
| North East Independent School Dist., Unlimited Tax Rev. Ref. Bonds, Series 2007, 5.25% 2/1/2032 |  | 7800 | 9628 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 12/15/2033 |  | 1125 | 1242 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 12/15/2034 |  | 910 | 988 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2019-A, 4.00% 12/15/2044 |  | 2500 | 2472 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 12/15/2051 |  | 10570 | 10454 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2019-A, 4.00% 12/15/2058 |  | 2775 | 2644 |
| North Fort Bend Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 12/15/2060 |  | 25000 | 24348 |
| North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 12/15/2031 |  | 2100 | 2285 |
| North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 12/15/2033 |  | 2700 | 2925 |
| North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 5.00% 12/15/2034 |  | 1250 | 1346 |
| North Harris County Regional Water Auth., Rev. and Rev. Ref. Bonds, Series 2016, 4.00% 12/15/2041 |  | 15790 | 15950 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2021, 3.00% 9/1/2035 |  | 500 | 487 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2021, 3.00% 9/1/2036 |  | 470 | 445 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2021, 3.00% 9/1/2039 |  | 1245 | 1127 |
| North Texas Municipal Water Dist., Water System Rev. Ref. and Improvement Bonds, Series 2021, 3.00% 9/1/2040 |  | 1265 | 1128 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2033 |  | 1440 | 1563 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2034 |  | 2000 | 2166 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2021-B, 4.00% 1/1/2035 |  | 1200 | 1266 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2035 |  | 2245 | 2420 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2036 |  | 2500 | 2679 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2037 |  | 3000 | 3203 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2038 |  | 10000 | 10804 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2022-A, 4.125% 1/1/2040 |  | 7500 | 7617 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2043 |  | 34970 | 37183 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-B, 5.00% 1/1/2048 |  | 2700 | 2823 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Second Tier Bonds, Series 2021-B, 4.00% 1/1/2038 |  | 2500 | 2520 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Second Tier Bonds, Series 2021-B, 4.00% 1/1/2039 |  | 2500 | 2510 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Second Tier Bonds, Series 2021-B, 4.00% 1/1/2040 |  | 2000 | 2001 |

---

American Funds Tax-Exempt Funds 197

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Second Tier Bonds, Series 2021-B, 4.00% 1/1/2041 | USD | 2000 | $1989 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2034 |  | 4500 | 4688 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2035 |  | 4000 | 4158 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2036 |  | 1000 | 1055 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2038 |  | 1500 | 1550 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2016-A, 5.00% 1/1/2039 |  | 8905 | 9333 |
| North Texas Tollway Auth., System Rev. Ref. First Tier Bonds, Series 2020-A, 3.00% 1/1/2037 |  | 18005 | 15988 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2013, 5.00% 8/15/2043 |  | 7000 | 7081 |
| Northside Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 0.70% 6/1/2050 (put 6/1/2025) |  | 5250 | 4958 |
| County of Nueces, Limited Tax Rev. Ref. Bonds, Series 2019, 4.00% 2/15/2034 |  | 1250 | 1333 |
| County of Nueces, Limited Tax Rev. Ref. Bonds, Series 2019, 4.00% 2/15/2035 |  | 650 | 684 |
| County of Nueces, Limited Tax Rev. Ref. Bonds, Series 2019, 4.00% 2/15/2039 |  | 1800 | 1830 |
| Odessa Housing Fin. Corp., Multi Family Housing Rev. Bonds (Cove in Odessa Apartments), Series 2021, 0.37% 2/1/2024 (put 9/1/2023) |  | 8610 | 8411 |
| Pecos-Barstow-Toyah Independent School Dist., Unlimited Tax School Building Bonds, Series 2021, 4.00% 2/15/2041 |  | 1600 | 1604 |
| Plainview Independent School Dist., Unlimited Tax School Building Bonds, Series 2020-B, 1.50% 2/15/2050 (put 8/15/2023) |  | 6000 | 5961 |
| Public Fin. Auth., Rev. Fncg. System Bonds (Texas Southern University), Series 2016, BAM insured, 4.00% 5/1/2033 |  | 665 | 685 |
| Red River Education Fin. Corp., Higher Education Rev. Bonds (St. Edward's University Project), Series 2016, 4.00% 6/1/2041 |  | 1640 | 1537 |
| Richardson Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 2/15/2028 |  | 1065 | 1154 |
| Richardson Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 2/15/2042 |  | 2500 | 2665 |
| Rio Grande Consolidated Independent School Dist., Unlimited Tax School Buildings Bonds, Series 2021, 4.00% 8/15/2051 |  | 1135 | 1132 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2023 |  | 100 | 100 |
| County of Rockwall, Permanent Improvement and Rev. Ref. Bonds, Series 2020, 4.00% 2/1/2034 |  | 325 | 347 |
| SA Energy Acquisition Public Fac. Corp., Gas Supply Rev. Bonds, Series 2007, 5.50% 8/1/2023 |  | 1980 | 1999 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015, 3.00% 2/1/2027 |  | 3500 | 3514 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015, 3.00% 2/1/2028 |  | 5000 | 5007 |
| City of San Antonio, Electric and Gas Systems Rev. Bonds, Series 2015-D, 1.125% 12/1/2045 (put 12/1/2026) |  | 8350 | 7481 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2025 |  | 470 | 494 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2026 |  | 2500 | 2699 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2029 |  | 4000 | 4372 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2038 |  | 1750 | 1966 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 4.00% 2/1/2039 |  | 1250 | 1266 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2039 |  | 2000 | 2232 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2040 |  | 2465 | 2734 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2040 |  | 2000 | 2242 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 4.00% 2/1/2041 |  | 1250 | 1259 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2041 |  | 2000 | 2205 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2042 |  | 4400 | 4893 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 4.00% 2/1/2043 |  | 1250 | 1254 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2018-A, 5.00% 2/1/2044 |  | 4000 | 4297 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2022, 5.00% 2/1/2044 |  | 2000 | 2217 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2045 |  | 1600 | 1728 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2046 |  | 5985 | 6559 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2018-A, 5.00% 2/1/2048 |  | 5180 | 5523 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2020, 5.00% 2/1/2049 |  | 1000 | 1075 |
| City of San Antonio, Electric and Gas Systems Rev. Ref. Bonds, Series 2021-A, 5.00% 2/1/2049 |  | 23590 | 25776 |
| San Antonio Housing Trust Fin. Corp., Multi Family Housing Rev. Bonds (The Arbors at West Avenue Apartments), Series 2022, 1.45% 3/1/2026 (put 3/1/2025) |  | 1205 | 1159 |
| San Jacinto Community College Dist., G.O. Building and Rev. Ref. Bonds, Series 2021, 4.00% 2/15/2046 |  | 3500 | 3456 |
| SMHA Fin. Public Fac. Corp., Multi Family Housing Rev. Bonds (The Lantana Apartments), Series 2021, 0.28% 3/1/2025 (put 3/1/2024) |  | 23000 | 22115 |
| South San Antonio Independent School Dist., Unlimited Tax School Building Bonds, Series 2005, 5.50% 8/15/2030 |  | 7510 | 8870 |
| Southwest Houston Redev. Auth., Tax Increment Contract Rev. Bonds, Series 2020, Assured Guaranty Municipal insured, 4.00% 9/1/2035 |  | 465 | 486 |
| Southwest Houston Redev. Auth., Tax Increment Contract Rev. Bonds, Series 2020, Assured Guaranty Municipal insured, 4.00% 9/1/2037 |  | 775 | 804 |
| Spring Branch Independent School Dist., Unlimited Tax Schoolhouse Bonds, Series 2019, 5.00% 2/1/2023 |  | 1200 | 1200 |

---

198 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2037 | USD | 2500 | $2464 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 6/30/2038 |  | 2500 | 2442 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 6/30/2039 |  | 1545 | 1498 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2039 |  | 1250 | 1211 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 6/30/2040 |  | 3775 | 3625 |
| Tarrant County Cultural Education Facs. Fin. Corp., Health Resources System Rev. Bonds, Series 2015-A, 4.25% 11/15/2052 |  | 1000 | 1003 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2016-A, 5.00% 11/15/2031 |  | 1000 | 1073 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2016-A, 5.00% 11/15/2032 |  | 2250 | 2411 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Baylor Scott & White Health Project), Series 2022-D, 5.00% 11/15/2051 |  | 10000 | 10825 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Cook Children's Medical Center), Series 2020, 5.00% 12/1/2032 |  | 2000 | 2338 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Cook Children's Medical Center), Series 2020, 5.00% 12/1/2033 |  | 1800 | 2033 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Cook Children's Medical Center), Series 2020, 4.00% 12/1/2045 |  | 5000 | 5012 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Methodist Hospitals of Dallas), Series 2022, 4.00% 10/1/2041 |  | 2000 | 2033 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Methodist Hospitals of Dallas), Series 2022, 4.00% 10/1/2042 |  | 2725 | 2734 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Bonds (Methodist Hospitals of Dallas), Series 2022, 4.00% 10/1/2047 |  | 1350 | 1324 |
| Tarrant County Cultural Education Facs. Fin. Corp., Hospital Rev. Ref. Bonds (Baylor Scott & White Health Project), Series 2013-A, 5.00% 8/15/2033 (preref. 8/15/2023) |  | 1000 | 1014 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), Series 2016, 4.00% 5/15/2031 |  | 6315 | 5798 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. - Querencia Project), Series 2015, 5.00% 11/15/2023 |  | 1530 | 1531 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. - Querencia Project), Series 2015, 5.00% 11/15/2035 |  | 1500 | 1496 |
| Board of Regents of the Texas A&M University System, Rev. Fncg. System Bonds, Series 2017-C, 5.00% 5/15/2033 |  | 1000 | 1108 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 3/15/2029 |  | 5250 | 5773 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 3/15/2032 |  | 6030 | 6843 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 3/15/2035 |  | 1145 | 1240 |
| Board of Regents of the Texas State University System, Rev. Fncg. System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 3/15/2036 |  | 1180 | 1271 |
| Board of Regents of the Texas Tech University System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2015-A, 5.00% 2/15/2033 |  | 2000 | 2083 |
| THF Public Fac. Corp., Multi Family Housing Bonds (Lakeside Manor Apartments), Series 2022, 3.25% 3/1/2040 (put 9/1/2025) |  | 6000 | 6013 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2030 |  | 1055 | 1087 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-B, 5.00% 8/15/2032 |  | 2000 | 2078 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2033 |  | 5000 | 5143 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-B, 5.00% 8/15/2037 |  | 4000 | 4108 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2037 |  | 8250 | 8425 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-B, 0% 8/15/2036 |  | 1000 | 559 |
| Transportation Commission, G.O. Mobility Fund Bonds, Series 2014-A, 5.00% 10/1/2044 (preref. 10/1/2024) |  | 4000 | 4169 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2038 |  | 850 | 402 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2039 |  | 950 | 423 |

---

<br> American Funds Tax-Exempt Funds 199

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2040 | USD | 800 | $335 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2041 |  | 1425 | 561 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2043 |  | 2185 | 767 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2044 |  | 2850 | 943 |
| Travis County Housing Fin. Corp., Multi Family Housing Rev. Bonds (Montopolis Apartments), Series 2020, 0.40% 7/1/2041 (put 7/1/2024) |  | 18420 | 17535 |
| Trinity River Auth., Regional Wastewater System Rev. Ref. Bonds, Series 2020, 5.00% 8/1/2030 |  | 1000 | 1181 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, AMBAC insured, 0% 8/15/2028 |  | 26715 | 22783 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, AMBAC insured, 0% 8/15/2029 |  | 27520 | 22667 |
| United Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 8/15/2031 |  | 1000 | 1118 |
| United Independent School Dist., Unlimited Tax School Building Bonds, Series 2017, 5.00% 8/15/2032 |  | 1000 | 1116 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 2/15/2026 |  | 3000 | 3245 |
| Board of Regents of the University of Houston System, Consolidated Rev. and Rev. Ref. Bonds, Series 2020-A, 3.00% 2/15/2030 |  | 4440 | 4565 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2031 |  | 3040 | 3418 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2032 |  | 2185 | 2448 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2033 |  | 2000 | 2236 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2036 |  | 2000 | 2198 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2037 |  | 1800 | 1967 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2038 |  | 2100 | 2290 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2039 |  | 2125 | 2310 |
| Board of Regents of the University of North Texas System, Rev. Fncg. System Rev. Ref. and Improvement Bonds, Series 2018-A, 5.00% 4/15/2044 |  | 6000 | 6442 |
| Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2022-A, 4.00% 7/1/2042 |  | 4900 | 4960 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2016-E, 5.00% 8/15/2023 |  | 1555 | 1578 |
| Board of Regents of the University of Texas System, Rev. Fncg. System Bonds, Series 2022-A, 4.00% 8/15/2052 |  | 5000 | 5063 |
| Water Dev. Board, State Revolving Fund Rev. Bonds, Series 2020, 4.00% 8/1/2038 |  | 2000 | 2098 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2017-A, 5.00% 4/15/2028 |  | 2000 | 2249 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2015-A, 5.00% 10/15/2030 |  | 9540 | 10245 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2032 |  | 8445 | 9092 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2033 |  | 2000 | 2147 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2034 |  | 6440 | 6856 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2035 |  | 8810 | 9282 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2017-A, 4.00% 10/15/2036 |  | 10000 | 10414 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2037 |  | 8900 | 9244 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2018-A, 4.00% 10/15/2038 |  | 4000 | 4141 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2015-A, 5.00% 10/15/2040 |  | 10350 | 10922 |

---

<br> 200 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2016, 5.00% 10/15/2046 | USD | 10000 | $10634 |
| Water Dev. Board, State Water Implementation Rev. Fund, Rev. Bonds (Master Trust), Series 2021, 4.00% 10/15/2056 |  | 7180 | 7063 |
| West Harris County Regional Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2019, 4.00% 12/15/2045 |  | 1000 | 984 |
| West Harris County Regional Water Auth., Water System Rev. and Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 12/15/2060 |  | 12750 | 12323 |
| West Travis County Public Utility Agcy., Rev. Ref. Bonds, Series 2017, BAM insured, 4.00% 8/15/2033 |  | 1100 | 1153 |
|  |  |  | **1971748** |
| **United States 0.55%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class AUS, 3.40% 1/25/2036 |  | 23615 | 22402 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2015-M-033, 2.65% 9/15/2030 |  | 7470 | 6637 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2018-M-042, Class A, (SIFMA Municipal Swap Index + 0.30%) 2.60% 9/15/2033<sup>1</sup> |  | 22895 | 22895 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-049, 3.05% 4/15/2034 |  | 3640 | 3310 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2018-M-046, 2.625% 6/15/2035<sup>1</sup> |  | 12730 | 12730 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2020-M-067, Class A, 2.25% 12/15/2037 |  | 58065 | 46454 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2021-ML-10, Class AUS, 2.032% 1/25/2038<sup>1</sup> |  | 11903 | 9267 |
|  |  |  | **123695** |
| **Utah 0.53%** |  |  |  |
| Charter School Fin. Auth., Charter School Rev. Ref. Bonds (Early Light Academy), Series 2017, 5.00% 7/15/2037<sup>1</sup> |  | 5185 | 5034 |
| Housing Corp., Single Family Mortgage Bonds, Class III, Series 2010-B-1, 4.00% 7/1/2024 |  | 10 | 10 |
| Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 1/1/2045 |  | 3590 | 3614 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 4.00% 7/1/2037 |  | 4260 | 4355 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 4.00% 7/1/2038 |  | 4430 | 4491 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 4.00% 7/1/2039 |  | 4510 | 4552 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 4.00% 7/1/2040 |  | 4795 | 4816 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 4.00% 7/1/2041 |  | 4820 | 4815 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 7/1/2046 |  | 2150 | 2336 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2017-B, 5.00% 7/1/2047 |  | 5995 | 6305 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-B, 5.00% 7/1/2051 |  | 4000 | 4318 |
| School Fin. Auth., Charter School Rev. Bonds (Utah Charter Academies Project), Series 2018-A-1, 5.00% 10/15/2038 |  | 730 | 766 |
| School Fin. Auth., Charter School Rev. Bonds (Utah Charter Academies Project), Series 2018-A-1, 5.00% 10/15/2043 |  | 1150 | 1192 |
| School Fin. Auth., Charter School Rev. Bonds (Utah Charter Academies Project), Series 2018-A-1, 5.00% 10/15/2048 |  | 1185 | 1222 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.00% 6/1/2032 |  | 100 | 118 |
| Telecommunication Open Infrastructure Agcy., Sales Tax and Telecommunications Rev. Ref. Bonds, Series 2022, 5.25% 6/1/2037 |  | 1000 | 1160 |
| Transit Auth., Sales Tax Rev. and Rev. Ref. Bonds, Series 2007-A, National insured, 5.00% 6/15/2035 |  | 38270 | 46335 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.125% 6/1/2041<sup>1</sup> |  | 4790 | 4238 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.375% 6/1/2052<sup>1</sup> |  | 8500 | 7431 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2032 |  | 1000 | 1119 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2034 |  | 1000 | 1112 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2035 |  | 1000 | 1105 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2036 |  | 2000 | 2194 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2037 |  | 1400 | 1530 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2038 |  | 1250 | 1363 |
| County of Utah, Hospital Rev. Bonds (IHC Health Services, Inc.), Series 2018-A, 5.00% 5/15/2039 |  | 2190 | 2381 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2027 |  | 315 | 348 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2028 |  | 450 | 507 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2030 |  | 175 | 204 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 5.00% 5/1/2031 |  | 95 | 112 |

---

<br> American Funds Tax-Exempt Funds 201

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Utah (continued)** |  |  |  |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2032 | USD | 135 | $149 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2033 |  | 150 | 164 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2034 |  | 115 | 125 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2035 |  | 215 | 230 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2037 |  | 300 | 315 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2039 |  | 175 | 181 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2040 |  | 160 | 165 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2041 |  | 175 | 180 |
| City of Vineyard, Redev. Agcy., Tax Increment Rev. and Rev. Ref. Bonds, Series 2021, Assured Guaranty Municipal insured, 4.00% 5/1/2046 |  | 275 | 276 |
|  |  |  | **120868** |
| **Vermont 0.07%** |  |  |  |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series 2016-A, 5.00% 12/1/2031 |  | 3300 | 3521 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series 2016-A, 5.00% 12/1/2033 |  | 2200 | 2340 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series 2016-B, 5.00% 12/1/2039 |  | 1750 | 1824 |
| Educational and Health Buildings Fncg. Agcy., Rev. Bonds (The University of Vermont Medical Center Project), Series 2016-B, 5.00% 12/1/2046 |  | 4300 | 4407 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2021-A, 2.60% 8/15/2051 |  | 1000 | 690 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2022-A, 2.85% 2/15/2052 |  | 1830 | 1338 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2017-D, 4.00% 5/1/2048 |  | 470 | 473 |
| Housing Fin. Agcy., Multiple Purpose Bonds, Series 2018-A, 4.00% 11/1/2048 |  | 1985 | 2002 |
|  |  |  | **16595** |
| **Virgin Islands 0.05%** |  |  |  |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2025 |  | 1675 | 1719 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2026 |  | 3710 | 3834 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2027 |  | 2500 | 2600 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2028 |  | 3355 | 3509 |
|  |  |  | **11662** |
| **Virginia 1.87%** |  |  |  |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-A, 5.00% 6/1/2023 |  | 280 | 281 |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-A, 4.00% 6/1/2042 |  | 1330 | 1185 |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-A, 4.00% 6/1/2049 |  | 2800 | 2378 |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-B, 4.00% 6/1/2054 |  | 5220 | 4161 |
| City of Alexandria, Industrial Dev. Auth., Demand Rev. Ref. Bonds (Goodwin House), Series 2015, 5.00% 10/1/2030 (preref. 10/1/2025) |  | 260 | 279 |
| City of Alexandria, Industrial Dev. Auth., Demand Rev. Ref. Bonds (Goodwin House), Series 2015, 5.00% 10/1/2045 (preref. 10/1/2025) |  | 3000 | 3217 |

---

<br> 202 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| City of Alexandria, Industrial Dev. Auth., Demand Rev. Ref. Bonds (Goodwin House), Series 2015, 5.00% 10/1/2050 (preref. 10/1/2025) | USD | 2000 | $2145 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 5.00% 7/1/2037 |  | 1700 | 1876 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 4.00% 7/1/2045 |  | 3335 | 3352 |
| County of Botetourt, Industrial Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Glebe, Inc.), Series 2014-A, 6.00% 7/1/2044 |  | 5750 | 5862 |
| Capital Region Airport Commission, Airport Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2023 |  | 600 | 606 |
| City of Chesapeake, Chesapeake Transportation System Toll Road Rev. Ref. Bonds, Series 2012-A, 5.00% 7/15/2047 |  | 2525 | 2526 |
| City of Chesapeake, Chesapeake Transportation System Toll Road Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2012-B, 0% 7/15/2040 (4.875% on 7/15/2023)<sup>3</sup> |  | 2000 | 2067 |
| College Building Auth., Educational Facs. Rev. Bonds (21st Century College and Equipment Programs), Series 2019-A, 3.00% 2/1/2037 |  | 5000 | 4708 |
| College Building Auth., Educational Facs. Rev. Bonds (Washington and Lee University Project), Series 2001, 5.75% 1/1/2034 |  | 1000 | 1299 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (21st Century College and Equipment Programs), Series 2017-E, 5.00% 2/1/2029 |  | 11000 | 12495 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (21st Century College and Equipment Programs), Series 2017-E, 5.00% 2/1/2031 |  | 11000 | 12481 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (Public Higher Education Fncg. Program), Series 2014-A, 5.00% 9/1/2025 (preref. 9/1/2024) |  | 2355 | 2451 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (Public Higher Education Fncg. Program), Series 2015-B, 5.00% 9/1/2026 |  | 900 | 962 |
| College Building Auth., Educational Facs. Rev. Ref. Bonds (Public Higher Education Fncg. Program), Series 2015-B, 5.00% 9/1/2028 |  | 2600 | 2774 |
| Commonwealth Transportation Board, Federal Transportation Grant Anticipation Rev. and Rev. Ref. Notes, Series 2017, 3.00% 9/15/2028 |  | 5755 | 5828 |
| Commonwealth Transportation Board, Transportation Rev. Ref. Bonds, Series 2016-C, 5.00% 5/15/2025 |  | 2000 | 2125 |
| County of Fairfax, Econ. Dev. Auth., County Facs. Rev. Ref. Bonds (County Facs. Project), Series 2021-B, 4.00% 10/1/2037 |  | 2525 | 2684 |
| County of Fairfax, Econ. Dev. Auth., County Facs. Rev. Ref. Bonds (County Facs. Project), Series 2021-B, 4.00% 10/1/2041 |  | 1520 | 1589 |
| County of Fairfax, Econ. Dev. Auth., Residential Care Facs. Mortgage Rev. Ref. Bonds (Goodwin House, Inc.), Series 2016-A, 5.00% 10/1/2036 (preref. 10/1/2024) |  | 2925 | 3092 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Bonds (Convocation Center Project), Series 2021, Assured Guaranty Municipal insured, 5.375% 7/1/2053 (put 7/1/2043) |  | 8500 | 9127 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2038 |  | 5280 | 5385 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2040 |  | 6340 | 6440 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2043 |  | 5400 | 5435 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2048 |  | 6390 | 6390 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2050 |  | 10500 | 10453 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2055 |  | 11000 | 10861 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2059 |  | 19410 | 18966 |
| Greater Richmond Convention Center Auth., Hotel Tax Rev. Ref. Bonds, Series 2015, 5.00% 6/15/2025 |  | 1800 | 1908 |
| Greater Richmond Convention Center Auth., Hotel Tax Rev. Ref. Bonds, Series 2015, 5.00% 6/15/2026 |  | 3520 | 3740 |
| Greater Richmond Convention Center Auth., Hotel Tax Rev. Ref. Bonds, Series 2015, 5.00% 6/15/2032 (preref. 6/15/2025) |  | 1000 | 1061 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. and Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2020, 4.00% 10/1/2045 |  | 1420 | 1339 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2034 |  | 6150 | 6066 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2017-C, 5.00% 12/1/2047 |  | 750 | 736 |

---

<br> American Funds Tax-Exempt Funds 203

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (United Methodist Homes), Series 2012, 5.00% 6/1/2023 | USD | 860 | $861 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2026 |  | 1210 | 1277 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2027 |  | 995 | 1050 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2029 |  | 750 | 790 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2030 |  | 810 | 853 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2031 |  | 820 | 863 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2018, 5.00% 10/1/2037 |  | 2725 | 2856 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2022-A, 5.00% 10/1/2042 |  | 1025 | 1105 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2022-A, 5.00% 10/1/2047 |  | 4190 | 4469 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2022-A, 5.00% 10/1/2052 |  | 3655 | 3855 |
| County of Henrico, Water and Sewer System Rev. Ref. Bonds, Series 2013, 5.00% 5/1/2023 |  | 945 | 951 |
| Housing Dev. Auth., Rental Housing Bonds, Series 2020-G, 2.40% 9/1/2045 |  | 2165 | 1545 |
| Housing Dev. Auth., Rental Housing Bonds, Series 2020-G, 2.625% 11/1/2053 |  | 1190 | 807 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, 4.00% 12/1/2023 |  | 300 | 299 |
| City of Lexington, Industrial Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Kendal at Lexington), Series 2022, 4.00% 1/1/2042 |  | 1120 | 923 |
| City of Lexington, Industrial Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Kendal at Lexington), Series 2022, 4.00% 1/1/2048 |  | 2310 | 1804 |
| Town of Louisa, Industrial Dev. Auth., Pollution Control Rev. Ref. Bonds (Virginia Electric and Power Co. Project), Series 2008-B, 0.75% 11/1/2035 (put 9/2/2025) |  | 10875 | 9997 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 3.00% 1/1/2051 |  | 6150 | 4568 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 4.00% 1/1/2055 |  | 3960 | 3677 |
| New River Valley Regional Jail Auth., Regional Jail Fac. Rev. Ref. Bonds, Series 2016, 5.00% 10/1/2031 |  | 2000 | 2181 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, 5.00% 12/1/2024 |  | 160 | 162 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, 5.00% 12/1/2038 |  | 2500 | 2506 |
| City of Newport News, Industrial Dev. Auth., Health Systems Rev. Bonds, Series 2017-A, 5.00% 7/1/2046<sup>1</sup> |  | 15250 | 15522 |
| City of Newport News, Industrial Dev. Auth., Health Systems Rev. Ref. Bonds (Custodial Receipts), Series 2015, 5.33% 7/1/2045<sup>1</sup> |  | 41100 | 41853 |
| City of Norfolk, Water Rev. Bonds, Series 2015-A, 5.25% 11/1/2044 |  | 2000 | 2099 |
| County of Prince William, Gateway Community Dev. Auth., Special Assessment Rev. Ref. Bonds, Series 2012, 5.00% 3/1/2030 |  | 1500 | 1454 |
| County of Prince William, Heritage Hunt Commercial Community Dev. Auth., Special Assessment Bonds, Series 1999-B, 7.00% 3/1/2029 |  | 402 | 402 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2015-B, 5.00% 8/1/2026 |  | 1140 | 1220 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2014-A, 5.00% 8/1/2027 (preref. 8/1/2024) |  | 2000 | 2079 |
| Public Building Auth., Public Facs. Rev. Bonds, Series 2020-A, 4.00% 8/1/2040 (preref. 8/1/2030) |  | 15 | 17 |
| Public School Auth., School Fncg. Bonds (1997 Resolution), Series 2022-A, 4.00% 8/1/2046 |  | 7295 | 7446 |
| Public School Auth., School Fncg. Rev. Ref. Bonds (1997 Resolution), Series 2015-A, 5.00% 8/1/2026 |  | 2000 | 2134 |
| Public School Auth., School Fncg. Rev. Ref. Bonds (1997 Resolution), Series 2015-A, 5.00% 8/1/2028 |  | 2000 | 2133 |
| Rappahannock Regional Jail Auth., Fac. Capital Improvement Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 10/1/2030 (preref. 10/1/2025) |  | 1750 | 1874 |
| Rappahannock Regional Jail Auth., Fac. Capital Improvement Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 10/1/2031 (preref. 10/1/2025) |  | 2000 | 2142 |
| Rappahannock Regional Jail Auth., Fac. Capital Improvement Rev. and Rev. Ref. Bonds, Series 2015, 5.00% 10/1/2032 (preref. 10/1/2025) |  | 2250 | 2410 |
| Resources Auth., Infrastructure Rev. Bonds (Pooled Fncg. Program), Series 2011-A, 5.00% 11/1/2024 |  | 35 | 35 |
| Resources Auth., Infrastructure Rev. Bonds (Pooled Fncg. Program), Series 2011-B, 5.00% 11/1/2027 |  | 15 | 15 |
| Resources Auth., Infrastructure Rev. Bonds (Pooled Fncg. Program), Series 2014-B, 5.00% 11/1/2027 |  | 870 | 912 |

---

<br> 204 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| Resources Auth., Infrastructure Rev. Bonds (Pooled Fncg. Program), Series 2014-B, 5.00% 11/1/2027 (preref. 11/1/2024) | USD | 130 | $136 |
| City of Roanoke, Econ. Dev. Auth., Hospital Rev. Bonds (Carilion Health System Obligated Group), Series 2020-A, 4.00% 7/1/2051 |  | 2415 | 2401 |
| County of Rockingham, Econ. Dev. Auth., Residential Care Facs. Rev. Bonds (Sunnyside Presbyterian Home), Series 2020-A, 5.00% 12/1/2039 |  | 3000 | 3064 |
| Small Business Fncg. Auth., Health Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 12/1/2049 |  | 12450 | 11929 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2032 |  | 2500 | 2529 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2037 |  | 2105 | 2119 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2042 |  | 2960 | 2964 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2047 |  | 4000 | 3950 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2052 |  | 5000 | 4894 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 3.00% 12/1/2026 |  | 235 | 223 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 12/1/2036 |  | 1210 | 1098 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 12/1/2041 |  | 1500 | 1298 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 12/1/2051 |  | 9455 | 7625 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2033 |  | 1665 | 1818 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2034 |  | 1325 | 1444 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2035 |  | 1610 | 1747 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2037 |  | 2250 | 2195 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2038 |  | 5000 | 4838 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2045 |  | 20660 | 19097 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2051 |  | 23855 | 21295 |
| City of Spotsylvania, Water and Sewer System Rev. Ref. Bonds, Series 2015, 5.00% 6/1/2026 |  | 3000 | 3187 |
| Upper Occoquan Sewage Auth., Regional Sewerage System Rev. Ref. Bonds, Series 2014, 5.00% 7/1/2028 |  | 5000 | 5326 |
| City of Virginia Beach, Dev. Auth., Residential Care Fac. Rev. Ref Bonds (Westminster-Canterbury on Chesapeake Bay), Series 2018, 5.00% 9/1/2023 |  | 335 | 337 |
| Western Virginia Regional Jail Auth., Regional Jail Fac. Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2025 |  | 1115 | 1192 |
| City of Winchester, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Valley Health System Obligated Group), Series 2015, 5.00% 1/1/2035 |  | 1000 | 1049 |
| City of Winchester, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Valley Health System Obligated Group), Series 2014-A, 5.00% 1/1/2044 (preref. 1/1/2024) |  | 3000 | 3069 |
| County of Wise, Industrial Dev. Auth., Solid Waste and Sewage Disposal Rev. Bonds (Virginia Electric and Power Co. Project), Series 2009-A, 0.75% 10/1/2040 (put 9/2/2025) |  | 12875 | 11836 |
|  |  |  | **424136** |
| **Washington 1.83%** |  |  |  |
| Bethel School Dist. No. 403, Unlimited Tax G.O. Rev. Ref. Bonds, Series 2020, 4.00% 12/1/2025 |  | 420 | 441 |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 3.00% 11/1/2036 |  | 13500 | 12653 |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 4.00% 11/1/2046 |  | 4000 | 3946 |
| Central Puget Sound Regional Transit Auth., Sales Tax Improvement and Rev. Ref. Green Bonds, Series 2015-S-1, 5.00% 11/1/2045 (preref. 11/1/2025) |  | 5000 | 5375 |
| Central Puget Sound Regional Transit Auth., Sales Tax Improvement Green Bonds, Series 2015-S-2B, (SIFMA Municipal Swap Index + 0.45%) 2.11% 11/1/2045 (put 11/1/2023)<sup>2</sup> |  | 4650 | 4650 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2010-B, 5.00% 7/1/2048 |  | 4000 | 4047 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2018, 5.00% 7/1/2058 |  | 6000 | 6048 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 1), Series 2017-A, 5.00% 7/1/2028 |  | 5000 | 5593 |
| Energy Northwest, Electric Rev. Ref. Bonds (Project No. 3), Series 2015-C, 5.00% 7/1/2026 |  | 1500 | 1598 |

---

<br> American Funds Tax-Exempt Funds 205

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Washington (continued)** |  |  |  |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Convertible Capital Appreciation Bonds, Series 2021-A-2, 4.00% 12/1/2045 (5.197% on 12/1/2026)<sup>1</sup> | USD | 1200 | $1170 |
| G.O. Bonds, Series 2017-A, 5.00% 8/1/2036 |  | 5000 | 5377 |
| G.O. Bonds, Series 2017-A, 5.00% 8/1/2037 |  | 5000 | 5363 |
| G.O. Bonds, Series 2022-A, 5.00% 8/1/2039 |  | 22830 | 26144 |
| G.O. Bonds, Series 2016-A-1, 5.00% 8/1/2040 |  | 4750 | 4974 |
| G.O. Bonds, Series 2018-C, 5.00% 2/1/2041 |  | 2000 | 2171 |
| G.O. Bonds, Series 2018-A, 5.00% 8/1/2041 |  | 780 | 842 |
| G.O. Bonds, Series 2018-A, 5.00% 8/1/2042 |  | 4000 | 4307 |
| G.O. Bonds, Series 2023-A, 5.00% 8/1/2044 |  | 5500 | 6242 |
| G.O. Rev. Ref. Bonds, Series 2017-R-A, 5.00% 8/1/2033 |  | 4000 | 4355 |
| G.O. Rev. Ref. Bonds, Series 2018-R-D, 5.00% 8/1/2035 |  | 3000 | 3299 |
| County of Grant, Public Utility Dist. No. 2, Electric System Rev. Ref. Bonds, Series 2017-O, 5.00% 1/1/2042 |  | 1200 | 1278 |
| County of Grant, Public Utility Dist. No. 2, Electric System Rev. Ref. Bonds, Series 2020-R, 2.00% 1/1/2044 (put 12/1/2025) |  | 1500 | 1455 |
| Health Care Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-B-2, 5.00% 8/1/2049 (put 8/1/2025) |  | 5000 | 5181 |
| Health Care Facs. Auth., Rev. Bonds (Fred Hutchinson Cancer Research Center), Series 2015, 5.00% 1/1/2026 (preref. 7/1/2025) |  | 1500 | 1598 |
| Health Care Facs. Auth., Rev. Bonds (Fred Hutchinson Cancer Research Center), Series 2015, 5.00% 1/1/2027 (preref. 7/1/2025) |  | 1000 | 1065 |
| Health Care Facs. Auth., Rev. Bonds (Fred Hutchinson Cancer Research Center), Series 2015, 5.00% 1/1/2033 (preref. 7/1/2025) |  | 1500 | 1598 |
| Health Care Facs. Auth., Rev. Bonds (Multicare Health System), Series 2015-A, 5.00% 8/15/2031 |  | 2335 | 2447 |
| Health Care Facs. Auth., Rev. Bonds (Multicare Health System), Series 2015-A, 5.00% 8/15/2033 |  | 2480 | 2581 |
| Health Care Facs. Auth., Rev. Bonds (Multicare Health System), Series 2017-B, 5.00% 8/15/2037 |  | 2000 | 2089 |
| Health Care Facs. Auth., Rev. Bonds (Multicare Health System), Series 2017-B, 4.00% 8/15/2041 |  | 5000 | 4836 |
| Health Care Facs. Auth., Rev. Bonds (Providence Health & Services), Series 2015-A, 4.00% 10/1/2045 |  | 505 | 486 |
| Health Care Facs. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2014-C, 5.00% 10/1/2044 (preref. 10/1/2024) |  | 895 | 930 |
| Health Care Facs. Auth., Rev. Bonds (Seattle Cancer Care Alliance), Series 2021, 4.00% 12/1/2040<sup>1</sup> |  | 920 | 922 |
| Health Care Facs. Auth., Rev. Bonds (Seattle Cancer Care Alliance), Series 2021, 4.00% 12/1/2048<sup>1</sup> |  | 870 | 843 |
| Health Care Facs. Auth., Rev. Bonds (Seattle Children's Hospital), Series 2017-A, 5.00% 10/1/2047 |  | 5315 | 5512 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2032 |  | 3000 | 3180 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2033 |  | 1000 | 1053 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2036 |  | 2965 | 3046 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2031 |  | 4625 | 4815 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2036 |  | 870 | 889 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2041 |  | 1645 | 1646 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2046 |  | 2180 | 2162 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Central Washington Health Services Assn.), Series 2015, 5.00% 7/1/2028 |  | 1500 | 1572 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Central Washington Health Services Assn.), Series 2015, 5.00% 7/1/2029 |  | 1750 | 1830 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Central Washington Health Services Assn.), Series 2015, 5.00% 7/1/2030 |  | 1500 | 1565 |
| Health Care Facs. Auth., Rev. Ref. Bonds (PeaceHealth), Series 2014-A, 5.00% 11/15/2027 (preref. 5/15/2024) |  | 795 | 820 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2018-B, 5.00% 10/1/2029 |  | 1700 | 1915 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2018-B, 5.00% 10/1/2032 |  | 3000 | 3330 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Providence St. Joseph Health), Series 2018-B, 5.00% 10/1/2033 |  | 3000 | 3305 |
| Health Care Facs. Auth., Rev. Ref. Bonds (Seattle Children's Hospital), Series 2015-B, 5.00% 10/1/2038 |  | 7000 | 7592 |
| Higher Education Facs. Auth., Rev. Bonds (Gonzaga University Project), Series 2013-A, 5.25% 4/1/2043 |  | 9765 | 9810 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Garten Haus Apartments Project), Series 2021, 0.37% 7/1/2024 (put 7/1/2023) |  | 2585 | 2547 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (Grata at Totem Lake Apartments Project), Series 2022-B, 2.25% 9/1/2025 (put 3/1/2025) |  | 3925 | 3869 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (HopeSource III Portfolio Projects), Series 2022, 1.25% 1/1/2025 (put 1/1/2024) |  | 5355 | 5240 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, Class X, interest only, 0.725% 12/20/2035<sup>6</sup> |  | 12665 | 638 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 12/20/2035 |  | 43697 | 41212 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2025<sup>1</sup> |  | 240 | 244 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2027<sup>1</sup> |  | 110 | 113 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2028<sup>1</sup> |  | 250 | 257 |

---

<br> 206 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Washington (continued)** |  |  |  |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2029<sup>1</sup> | USD | 160 | $164 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Emerald Heights Project), Series 2013, 5.00% 7/1/2023 |  | 100 | 101 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Emerald Heights Project), Series 2013, 5.00% 7/1/2028 |  | 1100 | 1109 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2038<sup>1</sup> |  | 2300 | 2327 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2043<sup>1</sup> |  | 3400 | 3403 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2048<sup>1</sup> |  | 2820 | 2800 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Rockwood Retirement Project), Series 2014-A, 7.375% 1/1/2044 (preref. 1/1/2024)<sup>1</sup> |  | 15880 | 16545 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Rockwood Retirement Project), Series 2014-A, 7.50% 1/1/2049 (preref. 1/1/2024)<sup>1</sup> |  | 6000 | 6258 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2015-1-N, 3.45% 12/1/2030 |  | 975 | 953 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 2.45% 12/1/2035 |  | 1400 | 1226 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 2.65% 12/1/2040 |  | 1750 | 1434 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2020-1-N, 2.80% 12/1/2043 |  | 975 | 793 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2017-2-N, 3.50% 6/1/2047 |  | 1025 | 1024 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2017-1-N, 4.00% 12/1/2047 |  | 290 | 292 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2018-1-N, 4.00% 12/1/2048 |  | 3015 | 3047 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2019-1-N, 4.00% 6/1/2049 |  | 5020 | 5078 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-1-N, 3.00% 12/1/2049 |  | 6030 | 5943 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051 |  | 5720 | 5620 |
| Housing Fin. Commission, Single Family Program Rev. Ref. Bonds, Series 2022-1-N, 5.00% 12/1/2052 |  | 3640 | 3908 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.00% 1/1/2032<sup>1</sup> |  | 3600 | 3763 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2043<sup>1</sup> |  | 40335 | 30718 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2048<sup>1</sup> |  | 18345 | 12978 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058<sup>1</sup> |  | 22180 | 14477 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058<sup>1</sup> |  | 10375 | 6521 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2058<sup>1</sup> |  | 3500 | 2824 |
| County of King, Sewer Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2033 |  | 2500 | 2778 |
| County of King, Sewer Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2034 |  | 2625 | 2908 |
| County of King, Sewer Rev. Ref. Bonds, Series 2015, 5.00% 7/1/2040 (preref. 1/1/2025) |  | 2550 | 2679 |
| Motor Vehicle Fuel Tax G.O. Bonds, Series 2014-B, 5.00% 8/1/2031 |  | 2330 | 2362 |
| Motor Vehicle Fuel Tax G.O. Bonds, Series 2017-B, 5.00% 8/1/2036 |  | 5000 | 5377 |
| Motor Vehicle Fuel Tax G.O. Bonds, Series 2017-B, 5.00% 8/1/2040 |  | 5000 | 5336 |
| Motor Vehicle Fuel Tax G.O. Rev. Ref. Bonds, Series R-2022-B, 4.00% 2/1/2035 |  | 660 | 714 |
| City of Seattle, Housing Auth., Rev. and Rev. Ref. Bonds (Northgate Plaza Project), Series 2021, 1.00% 6/1/2026 |  | 2040 | 1887 |
| City of Seattle, Housing Auth., Rev. Bonds (Lam Bow Apartments Project), Series 2021, 1.25% 6/1/2024 |  | 300 | 293 |
| City of Seattle, Municipal Light and Power Rev. Ref. Bonds, Series 2018-C-2, (SIFMA Municipal Swap Index + 0.49%) 2.15% 11/1/2046 (put 11/1/2023)<sup>2</sup> |  | 8000 | 8002 |
| Tacoma School Dist. No. 10, Unlimited Tax G.O. Bonds, Series 2020-B, 4.00% 12/1/2041 |  | 3205 | 3262 |
| University of Washington, General Rev. Ref. Bonds, Series 2020-C, 5.00% 4/1/2023 |  | 1500 | 1506 |
|  |  |  | **414476** |
| **West Virginia 0.20%** |  |  |  |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Ref. Bonds (Appalachian Power Co. - Amos Project), Series 2015-A, 2.55% 3/1/2040 (put 4/1/2024) |  | 9250 | 9131 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Bonds (West Virginia University Health System Obligated Group), Series 2018-A, 5.00% 6/1/2052 |  | 1000 | 1017 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Rev. Bonds (Cabell Huntington Hospital Obligated Group), Series 2018-A, 4.00% 1/1/2037 |  | 6510 | 6336 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Rev. Bonds (Cabell Huntington Hospital Obligated Group), Series 2018-A, 4.00% 1/1/2038 |  | 1375 | 1328 |

---

<br> American Funds Tax-Exempt Funds 207

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **West Virginia (continued)** |  |  |  |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Rev. Bonds (Cabell Huntington Hospital Obligated Group), Series 2018-A, 5.00% 1/1/2043 | USD | 7225 | $7424 |
| Parkways Auth., Turnpike Toll Rev. Bonds, Series 2021, 5.00% 6/1/2038 |  | 2175 | 2457 |
| Parkways Auth., Turnpike Toll Rev. Bonds, Series 2018, 5.00% 6/1/2043 |  | 975 | 1043 |
| Parkways Auth., Turnpike Toll Rev. Bonds, Series 2021, 5.00% 6/1/2047 |  | 6000 | 6583 |
| Parkways Auth., Turnpike Toll Rev. Bonds, Series 2021, 4.00% 6/1/2051 |  | 10985 | 10722 |
|  |  |  | **46041** |
| **Wisconsin 1.87%** |  |  |  |
| G.O. Bonds, Series 2018-B, 5.00% 5/1/2029 |  | 895 | 901 |
| G.O. Bonds, Series 2021-B, 4.00% 5/1/2039 |  | 1000 | 1025 |
| G.O. Rev. Ref. Bonds, Series 2015-4, 5.00% 5/1/2026 |  | 2500 | 2617 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-C-4, (SIFMA Municipal Swap Index + 0.65%) 2.31% 8/15/2054 (put 7/31/2024)<sup>2</sup> |  | 1250 | 1250 |
| Health and Educational Facs. Auth., Rev. Bonds (Advocate Aurora Health Care Credit Group), Series 2018-B, 5.00% 8/15/2054 (put 1/31/2024) |  | 10000 | 10230 |
| Health and Educational Facs. Auth., Rev. Bonds (Agnesian HealthCare, Inc.), Series 2013-B, 5.00% 7/1/2036 (preref. 7/1/2023) |  | 2000 | 2021 |
| Health and Educational Facs. Auth., Rev. Bonds (Agnesian HealthCare, Inc.), Series 2017, 5.00% 7/1/2042 |  | 3380 | 3507 |
| Health and Educational Facs. Auth., Rev. Bonds (Agnesian HealthCare, Inc.), Series 2017, 4.00% 7/1/2047 |  | 2500 | 2503 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 5.00% 11/15/2036 |  | 2270 | 2371 |
| Health and Educational Facs. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-A, 4.00% 11/15/2039 |  | 8145 | 8185 |
| Health and Educational Facs. Auth., Rev. Bonds (Aspirus, Inc. Obligated Group), Series 2021, 5.00% 8/15/2039 |  | 2500 | 2734 |
| Health and Educational Facs. Auth., Rev. Bonds (Aspirus, Inc. Obligated Group), Series 2021, 4.00% 8/15/2046 |  | 5000 | 4795 |
| Health and Educational Facs. Auth., Rev. Bonds (Bellin Memorial Hospital, Inc.), Series 2022-A, 5.50% 12/1/2052 |  | 3685 | 4092 |
| Health and Educational Facs. Auth., Rev. Bonds (Beloit Health System, Inc.), Series 2016, 5.00% 7/1/2041 |  | 1590 | 1630 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 2/15/2034 |  | 1360 | 1430 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 2/15/2035 |  | 1000 | 1043 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2016-B, 5.00% 2/15/2046 |  | 2500 | 2531 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2020-B, 5.00% 2/15/2051 (put 2/15/2027) |  | 4035 | 4269 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2020-B, 5.00% 2/15/2052 (put 2/15/2025) |  | 3445 | 3534 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Thermal Service, Inc.), Series 2018, 5.00% 4/1/2036 |  | 3870 | 4264 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Thermal Service, Inc.), Series 2018, 5.00% 4/1/2037 |  | 3500 | 3840 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Thermal Service, Inc.), Series 2018, 5.00% 4/1/2044 |  | 27200 | 29105 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group), Series 2022-A, 5.00% 4/1/2029 |  | 500 | 574 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group), Series 2022-A, 5.00% 4/1/2031 |  | 500 | 595 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group), Series 2022-A, 5.00% 4/1/2042 |  | 5000 | 5561 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Utility and Infrastructure Obligated Group), Series 2022-A, 5.00% 4/1/2052 |  | 10250 | 11110 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (Aurora Health Care, Inc.), Series 2013-A, 5.125% 4/15/2031 (preref. 4/15/2023) |  | 1750 | 1759 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (ProHealth Care, Inc. Obligated Group), Series 2015, 5.00% 8/15/2031 |  | 460 | 475 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (ProHealth Care, Inc. Obligated Group), Series 2015, 5.00% 8/15/2033 |  | 500 | 514 |

---

<br> 208 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (The Monroe Clinic, Inc.), Series 2016, 4.00% 2/15/2031 (preref. 8/15/2025) | USD | 450 | $468 |
| Health and Educational Facs. Auth., Rev. Ref. Bonds (ThedaCare, Inc.), Series 2015, 5.00% 12/15/2039 |  | 920 | 939 |
| Housing and Econ. Dev. Auth., Home Ownership Mortgage Rev. Bonds, Series 2017-A, 2.69% 7/1/2047 |  | 4877 | 4646 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-D, 4.00% 3/1/2047 |  | 7945 | 8028 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2017-C, 4.00% 3/1/2048 |  | 5250 | 5286 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2018-B, 4.00% 3/1/2048 |  | 9295 | 9364 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-A, 4.25% 3/1/2049 |  | 16920 | 17256 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2019-C, 3.75% 3/1/2050 |  | 23050 | 23197 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2020-A, 3.50% 9/1/2050 |  | 8430 | 8443 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 3295 | 3245 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-C, 3.00% 9/1/2052 |  | 2755 | 2712 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 5/1/2045 (put 11/1/2023) |  | 715 | 696 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.50% 11/1/2050 (put 11/1/2024) |  | 560 | 528 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 5.00% 7/1/2040 |  | 1000 | 1051 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2046 |  | 1380 | 1184 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2051 |  | 2925 | 2428 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2056 |  | 3710 | 2978 |
| Public Fin. Auth., Health Care System Rev. Bonds (Cone Health), Series 2022-A, 4.00% 10/1/2052 |  | 16745 | 15666 |
| Public Fin. Auth., Health Care System Rev. Bonds (Cone Health), Series 2022-A, 5.00% 10/1/2052 |  | 7500 | 7978 |
| Public Fin. Auth., Hospital Rev. Bonds (Renown Regional Medical Center Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 6/1/2045 |  | 32000 | 25572 |
| Public Fin. Auth., Hospital Rev. Bonds (WakeMed), Series 2019-A, 5.00% 10/1/2044 |  | 3000 | 3109 |
| Public Fin. Auth., Hospital Rev. Ref. Bonds (Renown Regional Medical Center Project), Series 2016-A, 5.00% 6/1/2031 |  | 3115 | 3285 |
| Public Fin. Auth., Hospital Rev. Ref. Bonds (Renown Regional Medical Center Project), Series 2016-A, 5.00% 6/1/2032 |  | 3250 | 3424 |
| Public Fin. Auth., Hospital Rev. Ref. Bonds (Renown Regional Medical Center Project), Series 2016-A, 5.00% 6/1/2040 |  | 11585 | 11867 |
| Public Fin. Auth., Lease Dev. Rev. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 3/1/2041 |  | 4850 | 5108 |
| Public Fin. Auth., Pollution Control Rev. Bonds (Duke Energy Progress Project), Series 2022-A-2, 3.70% 10/1/2046 (put 10/1/2030) |  | 24000 | 24921 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2034 |  | 370 | 432 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.25% 7/1/2042 |  | 7000 | 7748 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.375% 7/1/2047 |  | 5635 | 6221 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.50% 7/1/2052 |  | 4300 | 4805 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.625% 7/1/2055 |  | 4130 | 4611 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 5.00% 11/15/2041 |  | 3875 | 3900 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2051 |  | 1000 | 790 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 4.00% 9/1/2024<sup>1</sup> |  | 630 | 626 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2054<sup>1</sup> |  | 1500 | 1359 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2041 |  | 3275 | 3081 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2051 |  | 13175 | 11796 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, 3.00% 7/1/2050 |  | 13515 | 10245 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, BAM insured, 3.00% 7/1/2050 |  | 4500 | 3517 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2035 |  | 1190 | 1189 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2036 |  | 1240 | 1219 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2037 |  | 1290 | 1242 |

---

<br> American Funds Tax-Exempt Funds 209

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2042 | USD | 2000 | $1863 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2047 |  | 1700 | 1536 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2052 |  | 1650 | 1440 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 5.00% 1/1/2035 |  | 1000 | 1015 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 4.00% 1/1/2046 |  | 1000 | 839 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2040 |  | 3975 | 4007 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2045 |  | 1530 | 1528 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 7/1/2050 |  | 1000 | 916 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 7/1/2055 |  | 1250 | 1130 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series 2019-A, Assured Guaranty Municipal insured, 5.00% 7/1/2058 |  | 2000 | 2058 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015, 5.25% 7/1/2047 |  | 1000 | 1003 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Wilmington, LLC - University of North Carolina Project), Series 2018, Assured Guaranty Municipal insured, 5.00% 7/1/2058 |  | 11250 | 11588 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-B, 5.00% 6/1/2034 |  | 1125 | 1156 |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-A-1, 4.00% 7/1/2061<sup>1</sup> |  | 1080 | 814 |
| University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2021-B, 4.00% 4/1/2046 |  | 6750 | 6641 |
| University of Wisconsin, Hospitals and Clinics Auth., Rev. Green Bonds, Series 2021-B, 4.00% 4/1/2051 |  | 8500 | 8284 |
| WPPI Energy, Power Supply System Rev. Ref. Bonds, Series 2013-A, 5.00% 7/1/2037 |  | 3650 | 3676 |
|  |  |  | **424119** |
| **Wyoming 0.06%** |  |  |  |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-3, 3.00% 12/1/2044 |  | 45 | 45 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 6/1/2045 |  | 400 | 401 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2017-5, 4.00% 12/1/2046 |  | 2020 | 2036 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2020-2, 3.00% 6/1/2049 |  | 7265 | 7167 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2020-1, 4.00% 12/1/2050 |  | 1175 | 1194 |
| Community Dev. Auth., Housing Rev. Bonds, Series 2023-1, 5.75% 6/1/2053 |  | 1730 | 1914 |
|  |  |  | **12757** |
| **Total bonds, notes & other debt instruments** (cost: $21,006,032,000) |  |  | **20042305** |
| **Short-term securities 11.43%** |  |  |  |
| **Municipals 9.22%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-055, 1.87% 12/15/2028<sup>1,2</sup> |  | 17100 | 17100 |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (Exxon Pipeline Co. Project), Series 1993-A, 1.20% 12/1/2033<sup>2</sup> |  | 4160 | 4160 |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (ExxonMobil Project), Series 2001, 1.21% 12/1/2029<sup>2</sup> |  | 4000 | 4000 |
| State of Arizona, Health Facs. Auth., Rev. Bonds (Banner Health), Series 2015-B, (SIFMA Municipal Swap Index + 0.25%) 1.91% 1/1/2046 (put 11/4/2026)<sup>2,7</sup> |  | 6000 | 6000 |
| State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-B, 1.27% 2/1/2048<sup>2</sup> |  | 16300 | 16300 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2014-A, 1.27% 11/15/2052<sup>2</sup> |  | 26490 | 26490 |
| State of California, Bay Area Toll Auth., Toll Bridge Rev. Bonds, Series 2019-A, 0.96% 4/1/2053<sup>2</sup> |  | 8865 | 8865 |
| State of California, G.O. IAM Commercial Paper, Series 2023, 2.00% 3/2/2023 |  | 21000 | 21000 |
| State of California, Irvine Ranch Water Dist. Nos. 105, 140, 240 and 250, Consolidated G.O. Bonds, Series 1993, 0.50% 4/1/2033<sup>2</sup> |  | 2000 | 2000 |
| State of California, Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 8/1/2023 |  | 265 | 262 |

---

<br> 210 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of California, City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2001-B, 1.00% 7/1/2035<sup>2</sup> | USD | 15900 | $15900 |
| State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 |  | 81550 | 82096 |
| State of California, County of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/30/2023 |  | 14750 | 14867 |
| State of California, Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-B-2, 0.40% 7/1/2037<sup>2</sup> |  | 1635 | 1635 |
| State of California, City of Riverside, Electric Rev. Ref. Bonds, Series 2011-A, 1.16% 10/1/2035<sup>2</sup> |  | 11600 | 11600 |
| State of California, County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 |  | 20000 | 20217 |
| State of Colorado, Education Loan Program, Tax and Rev. Anticipation Notes, Series 2022-A, 3.75% 6/29/2023 |  | 25000 | 25127 |
| State of Colorado, Education Loan Program, Tax and Rev. Anticipation Notes, Series 2022-B, 5.00% 6/29/2023 |  | 91975 | 92908 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2001-V-2, 0.40% 7/1/2036<sup>2</sup> |  | 31355 | 31355 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2001-V-1, 0.50% 7/1/2036<sup>2</sup> |  | 4300 | 4300 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2013-A, 0.40% 7/1/2042<sup>2</sup> |  | 24700 | 24700 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-A, 1.25% 7/1/2042<sup>2</sup> |  | 10100 | 10100 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-A-1, 1.35% 7/1/2042<sup>2</sup> |  | 37650 | 37650 |
| District of Columbia, Housing Fin. Agcy., Collateralized Multi Family Housing Rev. Bonds (The Strand Residences Project), Series 2019, 2.50% 2/1/2039 (put 8/1/2023)<sup>7</sup> |  | 2500 | 2491 |
| District of Columbia, Water and Sewer Auth., Public Utility Multimodal Rev. Bonds, Series 2014-B-1, 1.65% 10/1/2050<sup>2</sup> |  | 5700 | 5700 |
| State of Florida, City of Gainesville, Utilities System Rev. Bonds, Series 2019-C, 1.31% 10/1/2047<sup>2</sup> |  | 21495 | 21495 |
| State of Florida, Miami-Dade County School Dist., Tax Anticipation Notes, Series 2022, 4.00% 2/23/2023 |  | 20000 | 20017 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-B, Wells Fargo LOC, 1.25% 8/1/2044<sup>2</sup> |  | 9470 | 9470 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-A, 1.31% 8/1/2044<sup>2</sup> |  | 12595 | 12595 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 1.31% 8/1/2044<sup>2</sup> |  | 23235 | 23235 |
| State of Illinois, Joliet Regional Port Dist., Marine Terminal Rev. Ref. Bonds (Exxon Project), Series 1989, 1.21% 10/1/2024<sup>2</sup> |  | 1100 | 1100 |
| State of Illinois, Sales Tax Securitization Corp., Sales Tax Securitization Rev. Ref. Bonds, Series 2023-A, 5.00% 1/1/2024 |  | 5000 | 5108 |
| State of Indiana, Fin. Auth., Environmental Rev. Ref. Bonds (Duke Energy Indiana, Inc. Project), Series 2009-A-3, 1.75% 12/1/2039<sup>2</sup> |  | 6000 | 6000 |
| State of Indiana, Fin. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2008-E-8, 1.74% 11/15/2033<sup>2</sup> |  | 17500 | 17500 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-E, 1.15% 2/15/2041<sup>2</sup> |  | 1000 | 1000 |
| State of Louisiana, Parish of East Baton Rouge, Industrial Dev. Board, Gulf Opportunity Zone Rev. Bonds (ExxonMobil Project), Series 2010-B, 1.21% 12/1/2040<sup>2</sup> |  | 5400 | 5400 |
| State of Louisiana, Parish of East Baton Rouge, Industrial Dev. Board, Gulf Opportunity Zone Rev. Bonds (ExxonMobil Project), Series 2011, 1.21% 12/1/2051<sup>2</sup> |  | 10070 | 10070 |
| State of Louisiana, Parish of East Baton Rouge, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2010-A, 1.21% 8/1/2035<sup>2</sup> |  | 15125 | 15125 |
| State of Louisiana, Louisiana Stadium and Exposition Dist., Bond Anticipation Notes, Series 2021, 4.00% 7/3/2023 |  | 1440 | 1442 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-A, 1.23% 8/1/2043<sup>2</sup> |  | 12000 | 12000 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-B, 1.60% 12/1/2043<sup>2</sup> |  | 7300 | 7300 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2010, 1.60% 8/1/2050<sup>2</sup> |  | 42000 | 42000 |
| State of Massachusetts, Massachusetts Bay Transportation Auth., General Transportation System Bonds, Series 2000-A, 1.79% 3/1/2030<sup>2</sup> |  | 17555 | 17555 |
| State of Massachusetts, Massachusetts Bay Transportation Auth., IAM Commercial Paper, Series 2022-B, 2.60% 3/2/2023 |  | 8550 | 8550 |
| State of Michigan, Fin. Auth., Hospital Rev. Bonds (CHE Trinity Health Credit Group), Series 2013-1, 2.58% 12/1/2034 (put 3/1/2023)<sup>7</sup> |  | 3250 | 3250 |
| State of Michigan, Fin. Auth., State Aid Rev. Notes, Series 2022-A, 5.00% 8/21/2023 |  | 15620 | 15827 |
| State of Michigan, Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Ascension Health Senior Credit Group), Series 2016-E-2, 1.74% 11/15/2047<sup>2</sup> |  | 23060 | 23060 |

---

<br> American Funds Tax-Exempt Funds 211

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of Michigan, Board of Trustees of Michigan State University, IAM Commercial Paper, Series 2022-G, 2.55% 2/8/2023 | USD | 10245 | $10245 |
| State of Michigan, Strategic Fund, Demand Limited Obligation Rev. Bonds (Air Products and Chemicals, Inc. Project), Series 2007, 1.23% 12/1/2042<sup>2</sup> |  | 13800 | 13800 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2008-A, 1.26% 4/1/2038<sup>2</sup> |  | 35715 | 35715 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 1.12% 4/1/2042<sup>2</sup> |  | 12450 | 12450 |
| State of Michigan, Regents of the University of Michigan, IAM Commercial Paper, Series 2009-B, 3.00% 2/17/2023 |  | 23760 | 23772 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2011-B, 1.65% 11/15/2038<sup>2</sup> |  | 20000 | 20000 |
| State of Minnesota, City of St. Paul, Housing and Redev. Auth., Health Care System Demand Rev. Bonds (Allina Health System), Series 2009-B-1, JPMorgan Chase LOC, 1.20% 11/15/2035<sup>2</sup> |  | 12200 | 12200 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2009-B, 1.20% 12/1/2030<sup>2</sup> |  | 9100 | 9100 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2009-E, 1.20% 12/1/2030<sup>2</sup> |  | 7175 | 7175 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2007-A, 1.21% 12/1/2030<sup>2</sup> |  | 66250 | 66250 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2009-D, 1.21% 12/1/2030<sup>2</sup> |  | 22500 | 22500 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-D, 1.57% 12/1/2030<sup>2</sup> |  | 14980 | 14980 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-E, 1.57% 12/1/2030<sup>2</sup> |  | 12650 | 12650 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-G, 1.20% 11/1/2035<sup>2</sup> |  | 15555 | 15555 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-I, 1.20% 11/1/2035<sup>2</sup> |  | 4950 | 4950 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-K, 1.20% 11/1/2035<sup>2</sup> |  | 2965 | 2965 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-G, 1.20% 11/1/2035<sup>2</sup> |  | 1135 | 1135 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-J, 1.21% 11/1/2035<sup>2</sup> |  | 29000 | 29000 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-E, 1.21% 11/1/2035<sup>2</sup> |  | 6300 | 6300 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-F, 1.21% 11/1/2035<sup>2</sup> |  | 6500 | 6500 |
| State of New Hampshire, Health and Education Facs. Auth., Rev. Ref. Bonds (Dartmouth College Issue), Series 2007-B, 1.28% 6/1/2041<sup>2</sup> |  | 1500 | 1500 |
| State of New York, Dormitory Auth., Rev. Bonds (Cornell University), Series 2019-B, 1.16% 7/1/2039<sup>2</sup> |  | 2500 | 2500 |
| State of New York, Metropolitan Transportation Auth., Transportation Rev. Bond Anticipation Notes, Series 2020-A-1, 5.00% 2/1/2023 |  | 785 | 785 |
| State of New York, New York City G.O. Bonds, Series 2008-C-4, Assured Guaranty insured, 3.00% 10/1/2027<sup>2</sup> |  | 9000 | 9000 |
| State of New York, New York City G.O. Bonds, Series 2006-E-2, 1.25% 8/1/2034<sup>2</sup> |  | 6170 | 6170 |
| State of New York, New York City G.O. Bonds, Series 2005-E-3, 1.62% 8/1/2034<sup>2</sup> |  | 13590 | 13590 |
| State of New York, New York City G.O. Bonds, Series 2006-E-4, 1.62% 8/1/2034<sup>2</sup> |  | 11280 | 11280 |
| State of New York, New York City G.O. Bonds, Series 2008-L-3, 1.25% 4/1/2036<sup>2</sup> |  | 1100 | 1100 |
| State of New York, New York City G.O. Bonds, Series 2010-G-4, 1.65% 3/1/2039<sup>2</sup> |  | 35615 | 35615 |
| State of New York, New York City G.O. Bonds, Series 2013-F-3, 1.25% 3/1/2042<sup>2</sup> |  | 13120 | 13120 |
| State of New York, New York City G.O. Bonds, Series 2012-G-6, 1.19% 4/1/2042<sup>2</sup> |  | 19460 | 19460 |
| State of New York, New York City G.O. Bonds, Series 2021-2, 1.60% 4/1/2042<sup>2</sup> |  | 3155 | 3155 |
| State of New York, New York City G.O. Bonds, Series 2021-3, 1.75% 4/1/2042<sup>2</sup> |  | 35715 | 35715 |
| State of New York, New York City G.O. Bonds, Series 2016-A-5, 1.25% 8/1/2044<sup>2</sup> |  | 34980 | 34980 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Rev. Bonds, Series 2000-C, 1.77% 6/15/2033<sup>2</sup> |  | 28400 | 28400 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2008-BB-2, 1.25% 6/15/2035<sup>2</sup> |  | 33535 | 33535 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2007-CC-1, 1.61% 6/15/2038<sup>2</sup> |  | 32530 | 32530 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2011-FF-1, 1.25% 6/15/2044<sup>2</sup> |  | 31400 | 31400 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-EE-1, 1.20% 6/15/2045<sup>2</sup> |  | 8850 | 8850 |

---

<br> 212 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2013-AA-2, 1.65% 6/15/2046<sup>2</sup> | USD | 4500 | $4500 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-6, 1.25% 6/15/2048<sup>2</sup> |  | 500 | 500 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2016-AA-1, 1.25% 6/15/2048<sup>2</sup> |  | 24810 | 24810 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-BB-1, 1.25% 6/15/2049<sup>2</sup> |  | 4000 | 4000 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-1, 1.25% 6/15/2050<sup>2</sup> |  | 16890 | 16890 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-2, 1.25% 6/15/2050<sup>2</sup> |  | 12000 | 12000 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-4, 1.25% 8/1/2041<sup>2</sup> |  | 2500 | 2500 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-B-4, 1.25% 8/1/2042<sup>2</sup> |  | 3500 | 3500 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>2</sup> |  | 4000 | 4000 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2005-B-2B, 1.25% 1/1/2032<sup>2</sup> |  | 20900 | 20900 |
| State of North Carolina, Medical Care Commission, Medical Care Facs. Rev. Bonds (Catholic Health East Issue), Series 2008, 1.57% 11/15/2028<sup>2</sup> |  | 4185 | 4185 |
| State of Ohio, County of Franklin, Rev. Bonds (CHE Trinity Health Credit Group), Series 2013, 3.30% 12/1/2046 (put 11/1/2022)<sup>7</sup> |  | 40750 | 40747 |
| State of Ohio, Higher Educational Facs. Commission, Rev. IAM Commercial Paper, Series 2008-B-5, 2.20% 4/5/2023 |  | 29145 | 29145 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2013-B-3, 1.19% 1/1/2039<sup>2</sup> |  | 11975 | 11975 |
| State of Ohio, Hospital Rev. Bonds (Cleveland Clinic Health System Obligated Group), Series 2019-F, 1.19% 1/1/2052<sup>2</sup> |  | 30800 | 30800 |
| State of Ohio, Hospital Rev. Bonds (University Hospitals Health System, Inc. Project), Series 2013, 2.14% 1/15/2033<sup>2</sup> |  | 10000 | 10000 |
| State of Ohio, Hospital Rev. Bonds (University Hospitals Health System, Inc. Project), Series 2015-B, 2.14% 1/15/2045<sup>2</sup> |  | 2400 | 2400 |
| State of Pennsylvania, University of Pittsburg, Commonwealth System of Higher Education, IAM Commercial Paper, Series 2014B-1, 2.50% 2/7/2023 |  | 23000 | 23000 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, 1.20% 5/1/2048<sup>2</sup> |  | 39500 | 39500 |
| State of Tennessee, City of Clarksville, Public Building Auth., Pooled Fncg. Rev. Bonds, Series 2003, Bank of America LOC, 1.37% 1/1/2033<sup>2</sup> |  | 1415 | 1415 |
| State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds (Tennessee County Loan Pool), Series 2002, Bank of America LOC, 1.38% 4/1/2032<sup>2</sup> |  | 6595 | 6595 |
| State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds (Tennessee County Loan Pool), Series 2008, Bank of America LOC, 1.37% 7/1/2038<sup>2</sup> |  | 1190 | 1190 |
| State of Texas, County of Alachua, Health Facs. Auth., Rev. IAM Commercial Paper, Series 2008-A, 3.10% 3/6/2023 |  | 10000 | 10010 |
| State of Texas, City of Dallas, Waterworks and Sewer System Rev. IAM Commercial Paper, Series 2023-F-1, 2.40% 3/23/2023 |  | 19500 | 19500 |
| State of Texas, Gulf Coast Industrial Dev. Auth., Rev. Bonds (ExxonMobil Project), Series 2012, 1.10% 11/1/2041<sup>2</sup> |  | 17400 | 17400 |
| State of Texas, Gulf Coast Waste Disposal Auth., Pollution Control Rev. Ref. Bonds (Exxon Project), Series 1989, 1.21% 10/1/2024<sup>2</sup> |  | 17530 | 17530 |
| State of Texas, Harris County Industrial Dev. Corp., Pollution Control Rev. Bonds (Exxon Project), Series 1984-A, 1.21% 3/1/2024<sup>2</sup> |  | 14300 | 14300 |
| State of Texas, Harris County Industrial Dev. Corp., Pollution Control Rev. Bonds (Exxon Project), Series 1984-A, 1.21% 3/1/2024<sup>2</sup> |  | 14300 | 14300 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-A, 1.65% 5/15/2034<sup>2</sup> |  | 5000 | 5000 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 1.66% 5/15/2034<sup>2</sup> |  | 25000 | 25000 |
| State of Texas, County of Jefferson, Port Arthur Navigation Dist., Pollution Control Rev. Ref. Bonds (Texaco, Inc. Project), Series 1994, 1.21% 10/1/2024<sup>2</sup> |  | 35000 | 35000 |
| State of Texas, Lower Colorado River Auth., Rev. IAM Commercial Paper, Series 2022, 3.55% 3/2/2023 |  | 8915 | 8915 |
| State of Texas, County of Montgomery, IAM Commercial Paper, Series 2010-B, 2.65% 5/16/2023 |  | 5450 | 5450 |
| State of Texas, Board of Regents of the University of Texas System, IAM Commercial Paper, Series 2023-A, 2.08% 3/10/2023 |  | 10000 | 10000 |

---

<br> American Funds Tax-Exempt Funds 213

The Tax-Exempt Bond Fund of America (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.52% 7/1/2037<sup>2</sup> | USD | 20000 | $20000 |
| State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.60% 7/1/2038<sup>2</sup> |  | 43480 | 43480 |
| State of Texas, Board of Regents of the University of Texas System, Rev. Ref. Bonds, Series 2007-B, 1.58% 8/1/2033<sup>2</sup> |  | 42300 | 42300 |
| State of Virginia, College Building Auth., Educational Facs. Rev. Bonds (University of Richmond Project), Series 2006, 1.21% 11/1/2036<sup>2</sup> |  | 15000 | 15000 |
| State of Virginia, County of Loudoun, Industrial Dev. Auth., Multi-Modal Rev. Bonds (Howard Hughes Medical Institute Issue), Series 2003-C, 1.73% 2/15/2038<sup>2</sup> |  | 16025 | 16025 |
| State of Virginia, Small Business Fncg. Auth., Demand Rev. Ref. Bonds (Virginia State University Real Estate Foundation), Series 2008, Bank of America LOC, 1.33% 7/1/2030<sup>2</sup> |  | 8480 | 8480 |
| State of Wyoming, County of Lincoln, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 1.21% 10/1/2044<sup>2</sup> |  | 24860 | 24860 |
| State of Wyoming, County of Sublette, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 1.21% 10/1/2044<sup>2</sup> |  | 25275 | 25275 |
|  |  |  | **2088226** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | Weighted | | |
|  | average yield | | |
|  | at acquisition | | |
| **U.S. Treasury bills 2.21%** |  |  |  |
| U.S. Treasury 2/7/2023<sup>8</sup> | 4.180% | 300000 | 299793 |
| U.S. Treasury 2/21/2023 | 4.481 | 200000 | 199510 |
|  |  |  | **499303** |
| **Total short-term securities** (cost: $2,587,618,000) |  |  | **2587529** |
| **Total investment securities 99.93%** (cost: $23,593,650,000) |  |  | **22629834** |
| Other assets less liabilities 0.07% |  |  | 15608 |
| **Net assets 100.00%** |  |  | $**22645442** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Contracts** | <br>**Type** | <br>**Number of**<br>**contracts** | <br>**Expiration** |<br><br>**Notional**<br>**amount**<br>**(000)** | **Value and**<br>**unrealized**<br>**(depreciation)**<br>**appreciation**<br>**at 1/31/2023**<br>**(000)** |
| 2 Year U.S. Treasury Note Futures | Long | 4214 | March 2023 | USD866,603 | $(1585) |
| 5 Year U.S. Treasury Note Futures | Long | 258 | March 2023 | 28184 | 255 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 3279 | March 2023 | (397425) | (507) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 49 | March 2023 | (6946) | (181) |
|  |  |  |  |  | $(2018) |

---

<br> 214 American Funds Tax-Exempt Funds

The Tax-Exempt Bond Fund of America (continued)

<sup>1</sup> 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 $719,871,000, which represented 3.18% of the net assets of the fund.

<sup>2</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>3</sup> Step bond; coupon rate may change at a later date.

<sup>4</sup> Scheduled interest and/or principal payment was not received.

<sup>5</sup> Value determined using significant unobservable inputs.

<sup>6</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>7</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

<sup>8</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $2,493,000, which represented .01% of the net assets of the fund.

**Key to abbreviations**

Agcy. = Agency

Assn. = Association

Auth. = Authority

Certs. = Certificates

Dept. = Department

Dev. = Development

Dist. = District

Dists. = Districts

Econ. = Economic

Fac. = Facility

Facs. = Facilities

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

IAM = Interest at Maturity

LIBOR = London Interbank Offered Rate

LOC = Letter of credit

Part. = Participation

Preref. = Prerefunded

Redev. = Redevelopment

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 215

---

| | |
|:---|:---|
| American High-Income Municipal Bond Fund | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_006.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the lowest of those ratings, consistent with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 89.10%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Alabama 0.84%** |  |  |  |
| City of Birmingham, Special Care Facs. Fncg. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2016-B, 5.00% 11/15/2046 | USD | 500 | $515 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds, Series 2022-B-1, 4.00% 4/1/2053 (put 10/1/2027) |  | 2550 | 2551 |
| Black Belt Energy Gas Dist., Gas Project Rev. Bonds (Project No. 7), Series 2021-C-1, 4.00% 10/1/2052 (put 12/1/2026) |  | 6665 | 6678 |
| Black Belt Energy Gas Dist., Gas Supply Prepay Rev. Bonds (Project No. 5), Series 2020-A-1, 4.00% 10/1/2049 (put 10/1/2026) |  | 315 | 316 |
| Black Belt Energy Gas Dist., Gas Supply Rev. Bonds, Series 2022-D-1, 4.00% 7/1/2052 (put 6/1/2027) |  | 1640 | 1671 |
| City of Hoover, Industrial Dev. Board, Environmental Improvement Rev. Bonds (U.S. Steel Corp. Project), Series 2020, AMT, 6.375% 11/1/2050 (put 11/1/2030) |  | 1965 | 2206 |
| County of Houston, Health Care Auth., Hospital Rev. Bonds, Series 2016-A, 5.00% 10/1/2030 |  | 5050 | 5225 |
| County of Jefferson, Limited Obligation Rev. Ref. Bonds, Series 2017, 5.00% 9/15/2032 |  | 1000 | 1093 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 6.00% 10/1/2042 |  | 7175 | 7666 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-A, Assured Guaranty Municipal insured, 5.00% 10/1/2044 |  | 1600 | 1646 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-A, Assured Guaranty Municipal insured, 5.25% 10/1/2048 |  | 700 | 721 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 7.00% 10/1/2051 |  | 520 | 558 |
| County of Jefferson, Sewer Rev. Warrants, Series 2013-D, 6.50% 10/1/2053 |  | 5530 | 5913 |
| County of Jefferson, Sewer Rev. Warrants, Capital Appreciation Warrants, Series 2013-E, 0% 10/1/2028 |  | 250 | 179 |
| County of Jefferson, Sewer Rev. Warrants, Capital Appreciation Warrants, Series 2013-E, 0% 10/1/2034 |  | 2500 | 1097 |
| County of Jefferson, Sewer Rev. Warrants, Capital Appreciation Warrants, Series 2013-E, 0% 10/1/2035 |  | 17475 | 7065 |
| County of Jefferson, Sewer Rev. Warrants, Capital Appreciation Warrants, Series 2013-E, 0% 10/1/2036 |  | 7500 | 2785 |
| County of Jefferson, Sewer Rev. Warrants, Convertible Capital Appreciation Warrants, Series 2013-F, 0% 10/1/2046 (7.75% on 10/1/2023)<sup>1</sup> |  | 2500 | 2566 |
| City of Montgomery, Medical Clinic Board, Health Care Fac. Rev. Bonds (Jackson Hospital & Clinic), Series 2015, 5.00% 3/1/2033 |  | 2500 | 2508 |
| City of Phenix, Industrial Dev. Board, Environmental Improvement Rev. Ref. Bonds (MeadWestvaco-Mead Coated Board Project), Series 2012-A, AMT, 4.125% 5/15/2035 |  | 6155 | 6155 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 2), Series 2021-B-1, 4.00% 12/1/2051 (put 12/1/2031) |  | 10000 | 9975 |
| Southeast Energy Auth., Commodity Supply Rev. Bonds (Project No. 3), Series 2022-A-1, 5.50% 1/1/2053 (put 12/1/2029) |  | 2005 | 2184 |
| County of Sumter, Industrial Dev. Auth., Rev. Green Bonds, Series 2022, 6.00% 7/15/2052 (put 7/15/2032) |  | 19935 | 18314 |
|  |  |  | **89587** |
| **Alaska 0.23%** |  |  |  |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2033 |  | 2000 | 2066 |
| Industrial Dev. and Export Auth., Power Rev. Ref. Bonds, Series 2015, AMT, 5.00% 1/1/2034 |  | 2000 | 2063 |
| Northern Tobacco Securitization Corp., Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2066 |  | 151275 | 20123 |
|  |  |  | **24252** |

---

<br> 216 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **American Samoa 0.13%** |  |  |  |
| Econ. Dev. Auth., General Rev. Bonds, Series 2021-A, 5.00% 9/1/2038<sup>2</sup> | USD | 1500 | $1512 |
| Econ. Dev. Auth., Rev. Ref. Bonds, Series 2015-A, 7.125% 9/1/2038<sup>2</sup> |  | 11000 | 12297 |
|  |  |  | **13809** |
| **Arizona 3.41%** |  |  |  |
| Town of Buckeye, Community Facs. Dist. No. 1 (Verrado), G.O. Rev. Ref. Bonds, Series 2013-B, 5.00% 7/15/2023<sup>2</sup> |  | 160 | 160 |
| Town of Buckeye, Community Facs. Dist. No. 1 (Verrado), G.O. Rev. Ref. Bonds, Series 2013-B, 5.70% 7/15/2029<sup>2</sup> |  | 770 | 772 |
| Town of Buckeye, Community Facs. Dist. No. 1 (Verrado), G.O. Rev. Ref. Bonds, Series 2013-B, 6.00% 7/15/2033<sup>2</sup> |  | 700 | 702 |
| Town of Florence, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional School Project - Queen Creek and Casa Grande Campuses), Series 2013, 5.75% 7/1/2033 (preref. 7/1/2023)<sup>2</sup> |  | 250 | 253 |
| City of Glendale, Industrial Dev. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series 2021-A, AMT, 2.125% 7/1/2033 |  | 475 | 417 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series 2016, 4.25% 11/15/2026 |  | 360 | 333 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series 2016, 5.00% 11/15/2036 |  | 600 | 479 |
| City of Glendale, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Glencroft Retirement Community Project), Series 2016, 5.25% 11/15/2046 |  | 1545 | 1150 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (The Terraces of Phoenix Project), Series 2018-A, 5.00% 7/1/2033 |  | 745 | 696 |
| City of Glendale, Industrial Dev. Auth., Rev. Ref. Bonds (The Terraces of Phoenix Project), Series 2018-A, 5.00% 7/1/2048 |  | 850 | 716 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks - Insirata Pointe), Series 2020-A, 5.00% 5/15/2056 |  | 4000 | 3562 |
| City of Glendale, Industrial Dev. Auth., Senior Living Rev. Bonds (Royal Oaks Life Care Community), Series 2016, 5.00% 5/15/2039 |  | 2250 | 2177 |
| Health Facs. Auth., Rev. Bonds (Banner Health), Series 2007-B, (3-month USD-LIBOR + 0.81%) 3.995% 1/1/2037<sup>3</sup> |  | 5000 | 4687 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2037 |  | 1100 | 1087 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2038 |  | 600 | 591 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2039 |  | 750 | 733 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2040 |  | 800 | 775 |
| Industrial Dev. Auth., Charter School Social Rev. Bonds (Equitable School Revolving Fund), Series 2020, 4.00% 11/1/2050 |  | 2500 | 2263 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2041 |  | 270 | 246 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2051 |  | 670 | 572 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Jerome Fac. Project), Series 2021-B, 4.00% 7/1/2061 |  | 5080 | 4165 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series 2021-A, 4.00% 7/1/2041 |  | 1750 | 1597 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series 2021-A, 4.00% 7/1/2051 |  | 4550 | 3886 |
| Industrial Dev. Auth., Education Fac. Rev. Bonds (KIPP NYC Public Charter Schools - Macombs Fac. Project), Series 2021-A, 4.00% 7/1/2061 |  | 6170 | 5058 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson Projects), Series 2019-A, 5.00% 7/1/2039<sup>2</sup> |  | 3500 | 3419 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson Projects), Series 2019-A, 5.00% 7/1/2049<sup>2</sup> |  | 7750 | 7285 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence - East Tucson and Central Tucson Projects), Series 2019-A, 5.00% 7/1/2054<sup>2</sup> |  | 6000 | 5570 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-A, 4.00% 7/1/2042 |  | 15575 | 14115 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.25% 7/1/2042 |  | 3540 | 3235 |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.50% 7/1/2052 |  | 5420 | 4926 |

---

<br> American Funds Tax-Exempt Funds 217

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| Industrial Dev. Auth., Education Facs. Rev. Bonds (Leman Academy of Excellence Projects), Series 2022-B, 4.50% 7/1/2057 | USD | 2745 | $2451 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.50% 7/1/2038<sup>2</sup> |  | 1200 | 1228 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2039<sup>2</sup> |  | 780 | 782 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-B, 5.125% 7/1/2047<sup>2</sup> |  | 2230 | 2174 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.625% 7/1/2048<sup>2</sup> |  | 2500 | 2531 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2049<sup>2</sup> |  | 1400 | 1335 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2017-B, 5.25% 7/1/2051<sup>2</sup> |  | 570 | 561 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2018-B, 5.75% 7/1/2053<sup>2</sup> |  | 3750 | 3809 |
| Industrial Dev. Auth., Education Rev. Bonds (Academies of Math & Science Projects), Series 2019, 5.00% 7/1/2054<sup>2</sup> |  | 1000 | 938 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 4.00% 7/1/2027<sup>2</sup> |  | 2210 | 2161 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2037<sup>2</sup> |  | 675 | 677 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.125% 7/1/2037<sup>2</sup> |  | 1500 | 1509 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2047<sup>2</sup> |  | 1035 | 980 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2047<sup>2</sup> |  | 2125 | 2013 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.25% 7/1/2047<sup>2</sup> |  | 3200 | 3142 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-A, 5.375% 7/1/2050<sup>2</sup> |  | 9750 | 9660 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-D, 5.00% 7/1/2051<sup>2</sup> |  | 3450 | 3227 |
| Industrial Dev. Auth., Education Rev. Bonds (Basis School Project), Series 2017-G, 5.00% 7/1/2051<sup>2</sup> |  | 1550 | 1450 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), Series 2019-A, 3.55% 7/15/2029<sup>2</sup> |  | 835 | 778 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), Series 2019-A, 5.00% 7/15/2039<sup>2</sup> |  | 1575 | 1543 |
| Industrial Dev. Auth., Education Rev. Bonds (Doral Academy of Nevada - Fire Mesa and Red Rock Campus Projects), Series 2019-A, 5.00% 7/15/2049<sup>2</sup> |  | 2250 | 2109 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Cadence Campus Project), Series 2020-A, 4.00% 7/15/2040<sup>2</sup> |  | 1850 | 1617 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Cadence Campus Project), Series 2020-A, 4.00% 7/15/2050<sup>2</sup> |  | 2480 | 1971 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Horizon, Inspirada and St. Rose Campus Projects), Series 2018-A, 5.75% 7/15/2038<sup>2</sup> |  | 1960 | 2037 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Nevada - Horizon, Inspirada and St. Rose Campus Projects), Series 2018-A, 5.75% 7/15/2048<sup>2</sup> |  | 3230 | 3304 |
| Industrial Dev. Auth., Education Rev. Bonds (Pinecrest Academy of Northern Nevada Project), Series 2022-A, 4.50% 7/15/2029<sup>2</sup> |  | 1250 | 1226 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), Series 2019-A, 3.75% 12/15/2029<sup>2</sup> |  | 480 | 462 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), Series 2019-A, 5.00% 12/15/2039<sup>2</sup> |  | 440 | 442 |
| Industrial Dev. Auth., Education Rev. Bonds (Somerset Academy of Las Vegas - Lone Mountain Campus Projects), Series 2019-A, 5.00% 12/15/2049<sup>2</sup> |  | 800 | 769 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class X, interest only, 1.007% 5/20/2033<sup>3,4</sup> |  | 155340 | 6986 |
| Industrial Dev. Auth., Municipal Certs., Series 2019-2, Class A, 3.625% 5/20/2033 |  | 19441 | 18804 |
| County of La Paz, Industrial Dev. Auth, Education Fac. Lease Rev. Bonds (Charter School Solutions Albuquerque School of Excellence Project), Series 2016-A, 4.375% 2/15/2028<sup>2</sup> |  | 1145 | 1092 |
| County of La Paz, Industrial Dev. Auth, Education Fac. Lease Rev. Bonds (Charter School Solutions Albuquerque School of Excellence Project), Series 2016-A, 5.00% 2/15/2046<sup>2</sup> |  | 5400 | 4694 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Benjamin Franklin Charter School Projects), Series 2018-A, 6.00% 7/1/2038<sup>2</sup> |  | 2000 | 2141 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Benjamin Franklin Charter School Projects), Series 2018-A, 6.00% 7/1/2052<sup>2</sup> |  | 3625 | 3770 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, 4.00% 7/1/2026<sup>2</sup> |  | 1160 | 1130 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, 4.375% 7/1/2031<sup>2</sup> |  | 3380 | 3153 |

---

<br> 218 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, 5.00% 7/1/2039<sup>2</sup> | USD | 3500 | $3506 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, 4.00% 7/1/2041<sup>2</sup> |  | 1020 | 875 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-B, 5.00% 7/1/2044<sup>2</sup> |  | 7000 | 7090 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2020, 5.25% 7/1/2045 |  | 4075 | 4358 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, 5.00% 7/1/2049<sup>2</sup> |  | 3500 | 3313 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2020, 4.00% 7/1/2050 |  | 3620 | 3419 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, 4.00% 7/1/2051<sup>2</sup> |  | 2490 | 1956 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2019-B, 5.00% 7/1/2054<sup>2</sup> |  | 2525 | 2358 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Legacy Traditional Schools Projects), Series 2021-A, 4.00% 7/1/2056<sup>2</sup> |  | 1350 | 1025 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Paradise Schools Projects), Series 2016, 5.00% 7/1/2036<sup>2</sup> |  | 2750 | 2776 |
| County of Maricopa, Industrial Dev. Auth., Education Rev. Bonds (Paradise Schools Projects), Series 2016, 5.00% 7/1/2047<sup>2</sup> |  | 10580 | 10317 |
| County of Maricopa, Industrial Dev. Auth., Facs. Rev. Bonds (Commercial Metals Co. Project), Series 2022, AMT, 4.00% 10/15/2047<sup>2</sup> |  | 15895 | 13493 |
| County of Maricopa, Industrial Dev. Auth., Rev. Bonds (Banner Health), Series 2019-E, 3.00% 1/1/2049 |  | 3000 | 2344 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (El Paso Electric Co. Palo Verde Project), Series 2009-A, 3.60% 2/1/2040 |  | 2000 | 1833 |
| Maricopa County Pollution Control Corp., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2000-A, 2.40% 6/1/2035 |  | 1825 | 1446 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% 7/1/2035<sup>2</sup> |  | 6080 | 6112 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% 7/1/2035<sup>2</sup> |  | 1500 | 1508 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2015, 5.00% 7/1/2045<sup>2</sup> |  | 5500 | 5264 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Basis Schools, Inc. Project), Series 2016-A, 5.00% 7/1/2046<sup>2</sup> |  | 7100 | 6761 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2014-A, 5.75% 7/1/2024<sup>2</sup> |  | 550 | 559 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, 4.00% 7/1/2026<sup>2</sup> |  | 2185 | 2168 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2014-A, 6.50% 7/1/2034<sup>2</sup> |  | 1560 | 1610 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, 5.00% 7/1/2035<sup>2</sup> |  | 1590 | 1602 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, 5.00% 7/1/2041<sup>2</sup> |  | 15075 | 14878 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2014-A, 6.75% 7/1/2044<sup>2</sup> |  | 6900 | 7076 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2015, 5.00% 7/1/2045<sup>2</sup> |  | 2250 | 2168 |
| City of Phoenix, Industrial Dev. Auth., Education Fac. Rev. Bonds (Legacy Traditional Schools Projects), Series 2016-A, 5.00% 7/1/2046<sup>2</sup> |  | 2500 | 2397 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, 4.00% 6/15/2041<sup>2</sup> |  | 3500 | 2970 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, 4.00% 6/15/2041<sup>2</sup> |  | 630 | 535 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, 4.00% 6/15/2051<sup>2</sup> |  | 2280 | 1767 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy Project), Series 2021, 4.00% 6/15/2057<sup>2</sup> |  | 695 | 519 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% 6/15/2034<sup>2</sup> |  | 725 | 732 |

---

<br> American Funds Tax-Exempt Funds 219

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Arizona (continued)** |  |  |  |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% 6/15/2039<sup>2</sup> | USD | 655 | $656 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% 6/15/2049<sup>2</sup> |  | 1100 | 1044 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (American Leadership Academy), Series 2019, 5.00% 6/15/2052<sup>2</sup> |  | 2150 | 2024 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series 2019, 3.25% 7/1/2024<sup>2</sup> |  | 160 | 158 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series 2019, 5.00% 7/1/2029<sup>2</sup> |  | 300 | 305 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series 2019, 5.00% 7/1/2034<sup>2</sup> |  | 400 | 404 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series 2019, 5.00% 7/1/2039<sup>2</sup> |  | 500 | 495 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Bonds (Imagine East Mesa Charter Schools Project), Series 2019, 5.00% 7/1/2049<sup>2</sup> |  | 1500 | 1408 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Ref. Bonds (American Leadership Academy Project), Series 2022, 4.00% 6/15/2051<sup>2</sup> |  | 4500 | 3488 |
| County of Pima, Industrial Dev. Auth., Education Fac. Rev. Ref. Bonds (American Leadership Academy Project), Series 2022, 4.00% 6/15/2057<sup>2</sup> |  | 5000 | 3731 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, 6.75% 11/15/2042<sup>2</sup> |  | 3000 | 3139 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, 6.875% 11/15/2052<sup>2</sup> |  | 8500 | 8846 |
| County of Pima, Industrial Dev. Auth., Senior Living Rev. Bonds (La Posada at Pusch Ridge Project), Series 2022-A, 7.00% 11/15/2057<sup>2</sup> |  | 5500 | 5720 |
| County of Pinal, Industrial Dev. Auth., Environmental Facs. Rev. Green Bonds (WOF SW GGP 1, LLC Project), Series 2021-B, AMT, 5.50% 10/1/2033<sup>1,2</sup> |  | 14522 | 13845 |
| County of Pinal, Industrial Dev. Auth., Environmental Facs. Rev. Green Bonds (WOF SW GGP 1, LLC Project), Series 2021-B, AMT, 5.50% 10/1/2033<sup>1</sup> |  | 5854 | 5581 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2021-A, 4.00% 12/1/2038 |  | 7185 | 6055 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2021-A, 4.00% 12/1/2046 |  | 5500 | 4171 |
| City of Tempe, Industrial Dev. Auth., Rev. and Rev. Ref. Bonds (Friendship Village of Tempe Project), Series 2021-B, 4.00% 12/1/2056 |  | 2130 | 1502 |
| City of Tempe, Industrial Dev. Auth., Rev. Bonds (Friendship Village of Tempe Project), Series 2019, 5.00% 12/1/2050 |  | 1600 | 1408 |
| City of Tempe, Industrial Dev. Auth., Rev. Bonds (Friendship Village of Tempe Project), Series 2019, 5.00% 12/1/2054 |  | 1850 | 1602 |
| Transportation Board, Transportation Excise Tax Rev. Ref. Bonds (Maricopa County Regional Area Road Fund), Series 2014, 5.00% 7/1/2023 |  | 155 | 157 |
| County of Yavapai, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.30% 6/1/2027 |  | 4515 | 4006 |
|  |  |  | **362763** |
| **Arkansas 0.30%** |  |  |  |
| Dev. Fin. Auth., Environmental Improvement Rev. Bonds (United States Steel Corp. Project), Series 2022, AMT, 5.45% 9/1/2052<sup>2</sup> |  | 6500 | 6504 |
| Dev. Fin. Auth., Industrial Dev. Rev. Bonds (Big River Steel Project), Series 2019, AMT, 4.50% 9/1/2049<sup>2</sup> |  | 18485 | 16755 |
| Dev. Fin. Auth., Industrial Dev. Rev. Green Bonds (Big River Steel Project), Series 2020, AMT, 4.75% 9/1/2049<sup>2</sup> |  | 9250 | 8717 |
|  |  |  | **31976** |
| **California 5.26%** |  |  |  |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2049 (5.375% on 10/1/2037)<sup>1</sup> |  | 595 | 297 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2050 (5.40% on 10/1/2037)<sup>1</sup> |  | 1975 | 984 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2027 |  | 100 | 105 |

---

<br> 220 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2031 | USD | 150 | $157 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2032 |  | 160 | 167 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2033 |  | 320 | 334 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2017-B, 2.85% 4/1/2047 (put 4/1/2025) |  | 9850 | 9845 |
| California County Tobacco Securitization Agcy., Tobacco Settlement Rev. Bonds, (Los Angeles County Securitization Corp.), Series 2020-B-1, 5.00% 6/1/2049 |  | 1565 | 1607 |
| City of Cerritos, Public Fncg. Auth., Rev. Bonds (Los Coyotes Redev. Project Loan), Series 1993-A, AMBAC insured, 6.50% 11/1/2023 |  | 900 | 922 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2035 |  | 690 | 440 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2036 |  | 750 | 451 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2037 |  | 1000 | 568 |
| Coast Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2012 Election, Series 2019-F, 0% 8/1/2040 |  | 5000 | 2541 |
| Coast Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2012 Election, Series 2019-F, 0% 8/1/2042 |  | 5000 | 2289 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 (put 8/1/2029) |  | 12640 | 13539 |
| Community College Fncg. Auth., Student Housing Rev. Bonds (NCCD - Napa Valley Properties, LLC - Napa Valley College Project), Series 2022-A, 5.75% 7/1/2060<sup>2</sup> |  | 4000 | 4006 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Fountains at Emerald Park), Series 2021-A-2, 4.00% 8/1/2046<sup>2</sup> |  | 3000 | 2547 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-2, 4.00% 8/1/2047<sup>2</sup> |  | 11360 | 9456 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-1, 4.00% 2/1/2056<sup>2</sup> |  | 23510 | 20729 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Verdant at Green Valley), Series 2019-A, 5.00% 8/1/2049<sup>2</sup> |  | 3525 | 3439 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2034 |  | 1000 | 653 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2036 |  | 1100 | 634 |
| Corona-Norco Unified School Dist., Public Fin. Auth., Special Tax Rev. Bonds, Series 2016-05-1, 4.00% 9/1/2029 |  | 615 | 626 |
| Corona-Norco Unified School Dist., Public Fin. Auth., Special Tax Rev. Bonds, Series 2016-05-1, 4.00% 9/1/2030 |  | 640 | 650 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-A-2, 3.25% 4/1/2057<sup>2</sup> |  | 9020 | 6623 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-B, 4.00% 4/1/2057<sup>2</sup> |  | 3500 | 2559 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (777 Place - Pomona), Series 2021-B, 4.00% 5/1/2057<sup>2</sup> |  | 2000 | 1479 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Acacia on Santa Rosa Creek), Series 2021-A, 4.00% 10/1/2056<sup>2</sup> |  | 6970 | 6149 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-A-2, 3.00% 3/1/2057<sup>2</sup> |  | 8865 | 6237 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-B, 4.00% 3/1/2057<sup>2</sup> |  | 890 | 678 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Dublin), Series 2021-A-2, 3.00% 2/1/2057<sup>2</sup> |  | 3000 | 2139 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-1, 3.00% 6/1/2048<sup>2</sup> |  | 1500 | 1067 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-2, 4.00% 6/1/2058<sup>2</sup> |  | 12265 | 9963 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-B, 4.00% 12/1/2059<sup>2</sup> |  | 3000 | 2175 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), Series 2021-A-2, 3.25% 7/1/2056<sup>2</sup> |  | 7850 | 5660 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Millennium South Bay - Hawthorne), Series 2021-B, 4.00% 7/1/2058<sup>2</sup> |  | 7250 | 5238 |

---

<br> American Funds Tax-Exempt Funds 221

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Park Crossing Apartments), Series 2021-A, 3.25% 12/1/2058<sup>2</sup> | USD | 14795 | $10692 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-2, 3.00% 12/1/2056<sup>2</sup> |  | 7000 | 4994 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-B, 4.00% 12/1/2056<sup>2</sup> |  | 2725 | 2070 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (The Link - Glendale), Series 2021-A-2, 4.00% 7/1/2056<sup>2</sup> |  | 3500 | 2847 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Theo - Pasadena), Series 2021-A-2, 3.25% 5/1/2057<sup>2</sup> |  | 6020 | 4524 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Towne - Glendale), Series 2022-B, 5.00% 9/1/2037<sup>2</sup> |  | 1000 | 983 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-1, 3.10% 7/1/2045<sup>2</sup> |  | 11500 | 9186 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-2, 4.00% 7/1/2056<sup>2</sup> |  | 31215 | 24606 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Vineyard Garden Apartments), Series 2021-A, 3.25% 10/1/2058<sup>2</sup> |  | 2205 | 1592 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Waterscape Apartments), Series 2021-B, 4.00% 9/1/2046<sup>2</sup> |  | 2250 | 1907 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series 2021-A-2, 3.125% 6/1/2057<sup>2</sup> |  | 14760 | 10561 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series 2021-B, 4.00% 6/1/2057<sup>2</sup> |  | 3980 | 2984 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2045 |  | 780 | 706 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 780 | 683 |
| Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2017-B, 4.00% 4/1/2047 |  | 3150 | 3104 |
| Elk Grove Unified School Dist., Community Facs. Dist. No. 1, Special Tax Rev. Ref. Bonds, Series 2012, Assured Guaranty Municipal insured, 4.00% 12/1/2033 |  | 4000 | 4005 |
| Enterprise Dev. Auth., Charter School Rev. Ref. Bonds (Rocketship Public Schools - Obligated Group No. 2), Series 2022-A, 4.00% 6/1/2042<sup>2</sup> |  | 500 | 413 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2038 |  | 1210 | 665 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2039 |  | 1000 | 523 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2040 |  | 1000 | 497 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2021-C, 4.00% 1/15/2043 |  | 3674 | 3637 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-A, Assured Guaranty Municipal insured, 0% 1/15/2034 |  | 1000 | 700 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-A, Assured Guaranty Municipal insured, 0% 1/15/2035 |  | 1000 | 665 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2013-A, 0% 1/15/2042 |  | 5000 | 2107 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2066 |  | 20000 | 2529 |
| Grossmont Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2008, 0% 8/1/2032 |  | 5000 | 3732 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2045<sup>2</sup> |  | 10700 | 9342 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2061<sup>2</sup> |  | 14235 | 11743 |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Convertible Capital Appreciation Bonds, Series 2020-B, 0% 7/1/2061 (6.75% on 7/1/2035)<sup>1,2</sup> |  | 10000 | 3499 |
| Health Facs. Fncg. Auth., Rev. Bonds (CommonSpirit Health), Series 2020-A, 4.00% 4/1/2044 |  | 1500 | 1450 |
| Health Facs. Fncg. Auth., Rev. Bonds (CommonSpirit Health), Series 2020-A, 4.00% 4/1/2045 |  | 5570 | 5341 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Lucile Salter Packard Children's Hospital at Stanford), Series 2022-A, 4.00% 5/15/2051 |  | 2750 | 2744 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-1, Class X, interest only, 0.29% 1/15/2035<sup>3,4</sup> |  | 30157 | 473 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-A-1, 4.25% 1/15/2035 |  | 8226 | 8225 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-1, Class X, interest only, 0.844% 3/25/2035<sup>3,4</sup> |  | 15441 | 848 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-1, Class X, interest only, 0.77% 11/20/2035<sup>3,4</sup> |  | 61311 | 3358 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035 |  | 14976 | 14522 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-3, Class X, interest only, 0.764% 8/20/2036<sup>4</sup> |  | 31600 | 1765 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036 |  | 4781 | 4434 |

---

<br> 222 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Independent Cities Lease Fin. Auth., Mobile Home Park Rev. Ref. Bonds (Palomar Estates West), Series 2015, 5.00% 9/15/2036 | USD | 1000 | $1003 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056<sup>2</sup> |  | 5110 | 4278 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), Capital Appreciation Bonds, Series 2021-B, 0% 1/1/2061<sup>2</sup> |  | 39210 | 2276 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2032 |  | 350 | 365 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2033 |  | 590 | 614 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2034 |  | 615 | 639 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2035 |  | 375 | 388 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2020, 4.00% 9/1/2036 |  | 350 | 348 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2020, 4.00% 9/1/2050 |  | 1100 | 999 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2027 |  | 70 | 74 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2031 |  | 2685 | 2800 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2035 |  | 3330 | 3446 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2040 |  | 120 | 116 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 275 | 254 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2049 |  | 675 | 611 |
| City of Lee Lake, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013-B, 5.375% 9/1/2035 |  | 730 | 737 |
| City of Long Beach, Marina Rev. Bonds (Alamitos Bay Marina Project), Series 2015, 5.00% 5/15/2045 |  | 500 | 510 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% 5/15/2040 |  | 2865 | 2505 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% 5/15/2040 (preref. 11/15/2031) |  | 135 | 136 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2042 |  | 1020 | 1065 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2047 |  | 905 | 933 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 800 | 819 |
| M-S-R Energy Auth., Gas Rev. Bonds, Series 2009-B, 6.50% 11/1/2039 |  | 1800 | 2262 |
| Madera Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2005, National insured, 0% 5/1/2030 |  | 4000 | 3228 |
| Morongo Band of Mission Indians, Rev. Ref. Bonds, Series 2018-B, 5.00% 10/1/2042<sup>2</sup> |  | 11415 | 11533 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.25% 11/1/2052 |  | 1195 | 1296 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% 6/1/2036 |  | 750 | 772 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% 6/1/2046 |  | 1745 | 1768 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2015-A, 5.25% 11/1/2035<sup>2</sup> |  | 2035 | 2085 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2015-A, 5.50% 11/1/2045<sup>2</sup> |  | 5600 | 5692 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2016-A, 5.00% 11/1/2046<sup>2</sup> |  | 750 | 747 |
| Municipal Fin. Auth., Rev. Bonds (Caritas Mobile Home Park), Series 2014-A, 5.25% 8/15/2039 |  | 1200 | 1226 |
| Municipal Fin. Auth., Rev. Bonds (Caritas Mobile Home Park), Series 2014-B, 5.875% 8/15/2049 |  | 1000 | 1010 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2046 |  | 2000 | 1513 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2049 |  | 2590 | 1901 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 4.00% 10/1/2029<sup>2</sup> |  | 420 | 405 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2049<sup>2</sup> |  | 1525 | 1441 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2057<sup>2</sup> |  | 1100 | 1017 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 4.00% 12/31/2047 |  | 11455 | 10168 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2047 |  | 3005 | 3045 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2026 |  | 1065 | 1083 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2030 |  | 2505 | 2534 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2019, 5.00% 11/15/2039 |  | 425 | 423 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2042 |  | 465 | 382 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2039<sup>2</sup> |  | 525 | 531 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2049<sup>2</sup> |  | 2000 | 1999 |

---

<br> American Funds Tax-Exempt Funds 223

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.70% 12/1/2044 (put 12/1/2023) | USD | 460 | $450 |
| Municipal Fin. Auth., Special Fac. Rev. Bonds (United Airlines, Inc. Los Angeles International Airport Project), Series 2019, AMT, 4.00% 7/15/2029 |  | 2525 | 2505 |
| Municipal Fin. Auth., Special Fin. Agcy. XII, Essential Housing Rev. Bonds (Allure Apartments), Series 2022-A-1, 3.25% 2/1/2057<sup>2</sup> |  | 9025 | 6450 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-2, 4.00% 12/1/2045<sup>2</sup> |  | 3280 | 2734 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-1, 3.00% 12/1/2056<sup>2</sup> |  | 8490 | 6057 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 4.00% 5/15/2046 |  | 290 | 278 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2051 |  | 3470 | 2773 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2054 |  | 805 | 631 |
| Northern California Gas Auth. No. 1, Gas Project Rev. Bonds, Series 2007-B, (3-month USD-LIBOR + 0.67%) 3.905% 7/1/2027<sup>3</sup> |  | 6520 | 6482 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.25% 8/15/2045 |  | 560 | 575 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2037 |  | 1010 | 1086 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2042 |  | 600 | 631 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2047 |  | 970 | 1009 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2052 |  | 2350 | 2431 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 220 | 209 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1175 | 1065 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2029 |  | 2750 | 2253 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2031 |  | 2500 | 1901 |
| Pollution Control Fncg. Auth., Water Furnishing Rev. Bonds (Poseidon Resources (Channelside), LP Desalination Project), Series 2012, AMT, 5.00% 11/21/2045<sup>2</sup> |  | 3250 | 3256 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-B, 4.00% 10/15/2051 (put 10/15/2031) |  | 685 | 684 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-3, 2.125% 11/15/2027<sup>2</sup> |  | 1015 | 963 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-2, 2.375% 11/15/2028<sup>2</sup> |  | 1000 | 943 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-1, 3.125% 5/15/2029<sup>2</sup> |  | 1575 | 1415 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2036<sup>2</sup> |  | 625 | 607 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2046<sup>2</sup> |  | 240 | 216 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2051<sup>2</sup> |  | 710 | 629 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2056<sup>2</sup> |  | 645 | 561 |
| Public Works Board, Lease Rev. Bonds (Trustees of the California State University), Series 2013-H, 5.00% 9/1/2024 (preref. 9/1/2023) |  | 20 | 20 |
| Public Works Board, Lease Rev. Bonds (Trustees of the California State University), Series 2013-H, 5.00% 9/1/2029 (preref. 9/1/2023) |  | 5 | 5 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2037 |  | 500 | 495 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series 2019-A, 5.00% 9/1/2038 |  | 3750 | 3869 |

---

<br> 224 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series 2019-A, 5.00% 9/1/2048 | USD | 4545 | $4573 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series 2022, 5.75% 9/1/2052 |  | 4250 | 4274 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2019-1 (Phase 2 Public Improvements), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1000 | 840 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2041 |  | 1015 | 898 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2046 |  | 1535 | 1324 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2051 |  | 2705 | 2273 |
| County of Riverside, Redev. Agcy., Tax Allocation Bonds (Jurupa Valley Redev. Project Area), Capital Appreciation Bonds, Series 2011-B, 0% 10/1/2039 |  | 4210 | 2120 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2029 |  | 1000 | 1049 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2030 |  | 455 | 475 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2031 |  | 595 | 621 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2033 |  | 500 | 521 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 2, Special Tax Bonds, Series 2022, 5.50% 9/1/2052 |  | 4695 | 4807 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 2, Special Tax Bonds, Series 2022, 5.75% 9/1/2052 |  | 4285 | 4454 |
| County of Sacramento, Water Fncg. Auth., Rev. Ref. Bonds (Water Agcy. Zones 40 and 41), Series 2007-B, FGIC-National insured, (3-month USD-LIBOR + 0.55%) 3.739% 6/1/2034<sup>3</sup> |  | 5000 | 4906 |
| City of San Diego, Community Facs. Dist. No. 4 (Black Mountain Ranch Villages), Special Tax Bonds, Series 2016, 5.00% 9/1/2027 |  | 355 | 380 |
| City of San Diego, Community Facs. Dist. No. 4 (Black Mountain Ranch Villages), Special Tax Bonds, Series 2016, 5.00% 9/1/2028 |  | 785 | 839 |
| City of San Diego, Community Facs. Dist. No. 4 (Black Mountain Ranch Villages), Special Tax Bonds, Series 2016, 5.00% 9/1/2029 |  | 245 | 261 |
| City of San Diego, Community Facs. Dist. No. 4 (Black Mountain Ranch Villages), Special Tax Bonds, Series 2016, 5.00% 9/1/2030 |  | 245 | 260 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 2155 | 1965 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1140 | 1015 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, Special Tax Bonds, Series 2022-A, 4.00% 9/1/2042<sup>2</sup> |  | 2005 | 1879 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, Special Tax Bonds, Series 2022-A, 4.00% 9/1/2052<sup>2</sup> |  | 1500 | 1324 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2036<sup>2</sup> |  | 440 | 428 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051<sup>2</sup> |  | 6285 | 5306 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 6 (Mission Bay South Public Improvements), Special Tax Rev. Ref. Bonds, Series 2013-A, 5.00% 8/1/2031 |  | 500 | 505 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2044 |  | 875 | 885 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Mission Bay South Redev. Project), Series 2016-C, 5.00% 8/1/2031 |  | 665 | 721 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% 10/1/2052<sup>2</sup> |  | 1250 | 1279 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% 10/1/2061<sup>2</sup> |  | 1170 | 1188 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 4.00% 10/1/2027<sup>2</sup> |  | 1000 | 1017 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 5.00% 10/1/2044<sup>2</sup> |  | 2000 | 2050 |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2029<sup>2</sup> |  | 1000 | 1016 |

---

<br> American Funds Tax-Exempt Funds 225

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2048<sup>2</sup> | USD | 1000 | $969 |
| School Fin. Auth., Charter School Rev. Bonds (Larchmont Charter School Project), Series 2018-A, 5.00% 6/1/2028<sup>2</sup> |  | 585 | 605 |
| School Fin. Auth., Charter School Rev. Bonds (Larchmont Charter School Project), Series 2018-A, 5.00% 6/1/2043<sup>2</sup> |  | 760 | 767 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2016-A, 5.00% 6/1/2046<sup>2</sup> |  | 1850 | 1745 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2017-A, 5.125% 6/1/2047<sup>2</sup> |  | 750 | 718 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2017-A, 5.25% 6/1/2052<sup>2</sup> |  | 250 | 241 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Public Schools Obligated Group), Series 2017-G, 5.00% 6/1/2037<sup>2</sup> |  | 360 | 355 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Public Schools Obligated Group), Series 2017-G, 5.00% 6/1/2047<sup>2</sup> |  | 1470 | 1383 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2015-A, 6.375% 7/1/2046 (preref. 7/1/2025)<sup>2</sup> |  | 8965 | 9846 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2015-A, 6.375% 7/1/2046 (preref. 7/1/2025)<sup>2</sup> |  | 440 | 477 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2017-A, 5.00% 7/1/2052<sup>2</sup> |  | 2350 | 2151 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 4.00% 7/1/2023<sup>2</sup> |  | 400 | 400 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 4.00% 7/1/2024<sup>2</sup> |  | 420 | 419 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 4.00% 7/1/2025<sup>2</sup> |  | 235 | 234 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 5.00% 7/1/2049<sup>2</sup> |  | 1000 | 956 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 9/1/2027 |  | 100 | 98 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, Series 2016, 3.00% 9/1/2028 |  | 120 | 118 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, Series 2016, 3.125% 9/1/2030 |  | 175 | 168 |
| City of Seal Beach, Community Facs. Dist. No. 2005-1 (Pacific Gateway Business Center), Special Tax Rev. Ref. Bonds, Series 2016, 3.125% 9/1/2031 |  | 460 | 439 |
| Southern California Logistics Airport Auth., Tax Allocation Parity Bonds (Southern California Logistics Airport Project), Series 2005-A, Assured Guaranty insured, 4.50% 12/1/2030 |  | 120 | 121 |
| Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2015, 5.00% 10/1/2045 |  | 850 | 864 |
| Statewide Communities Dev. Auth., Rev. Bonds (California Baptist University), Series 2014-A, 6.375% 11/1/2043<sup>2</sup> |  | 2700 | 2739 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2051 |  | 6230 | 4559 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% 6/1/2034<sup>2</sup> |  | 275 | 277 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% 6/1/2039<sup>2</sup> |  | 370 | 370 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Plaza Project), Series 2013, 5.125% 11/1/2023 |  | 150 | 151 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2014-A, 5.25% 12/1/2044 |  | 5000 | 5020 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.25% 12/1/2056<sup>2</sup> |  | 16100 | 16133 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (California Baptist University), Series 2017-A, 5.00% 11/1/2032<sup>2</sup> |  | 720 | 743 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 4.00% 6/1/2026<sup>2</sup> |  | 2470 | 2440 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 5.00% 6/1/2036<sup>2</sup> |  | 2610 | 2618 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 5.00% 6/1/2046<sup>2</sup> |  | 3750 | 3639 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 5/15/2040 |  | 1150 | 1174 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (Custodial Receipts), Series 2017, 4.305% 7/1/2032 |  | 4405 | 4102 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation Bonds, Series 2019-B2-2, 0% 6/1/2054 |  | 10735 | 1983 |

---

<br> 226 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2016-L, 4.00% 5/15/2037 | USD | 1300 | $1321 |
| Various Purpose G.O. Rev. Ref. Bonds, Series 2013, 5.00% 2/1/2028 |  | 1240 | 1240 |
| Various Purpose G.O. Rev. Ref. Bonds, Series 2013, 5.00% 2/1/2033 |  | 1035 | 1035 |
|  |  |  | **559840** |
| **Colorado 10.08%** |  |  |  |
| County of Adams, Amber Creek Metropolitan Dist., Limited Tax G.O. Bonds, Series 2017-B, 7.75% 12/15/2047<sup>5</sup> |  | 513 | 485 |
| County of Adams, Amber Creek Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2017-A, 5.00% 12/1/2037 |  | 1232 | 1207 |
| County of Adams, Amber Creek Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2017-A, 5.125% 12/1/2047 |  | 1000 | 934 |
| County of Adams, Bradburn Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2018-B, 7.25% 12/15/2047<sup>5</sup> |  | 2488 | 2448 |
| County of Adams, Bradburn Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.00% 12/1/2038 |  | 840 | 832 |
| County of Adams, Bradburn Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.00% 12/1/2047 |  | 1200 | 1147 |
| County of Adams, Brighton Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2017-B, 7.00% 12/15/2047<sup>5</sup> |  | 670 | 631 |
| County of Adams, Brighton Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2017-A, 4.00% 12/1/2027 |  | 606 | 590 |
| County of Adams, Brighton Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2017-A, 5.00% 12/1/2037 |  | 1055 | 1055 |
| County of Adams, Brighton Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2017-A, 5.00% 12/1/2047 |  | 3170 | 3036 |
| County of Adams, Clear Creek Station Metropolitan Dist., Limited Tax G.O. Bonds, Series 2017-B, 7.375% 12/15/2047<sup>5</sup> |  | 500 | 479 |
| County of Adams, Clear Creek Station Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2017-A, 4.375% 12/1/2032 |  | 1263 | 1201 |
| County of Adams, Clear Creek Station Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2017-A, 5.00% 12/1/2047 |  | 7250 | 6916 |
| County of Adams, Clear Creek Transit Metropolitan Dist. No. 2, Rev. Supported Limited Tax G.O. Bonds, Series 2021-A, 4.00% 12/1/2031 |  | 525 | 476 |
| County of Adams, Clear Creek Transit Metropolitan Dist. No. 2, Rev. Supported Limited Tax G.O. Bonds, Series 2021-A, 5.00% 12/1/2041 |  | 2925 | 2725 |
| County of Adams, Clear Creek Transit Metropolitan Dist. No. 2, Rev. Supported Limited Tax G.O. Bonds, Series 2021-A, 5.00% 12/1/2050 |  | 5000 | 4425 |
| County of Adams, Clear Creek Transit Metropolitan Dist. No. 2, Rev. Supported Limited Tax G.O. Bonds, Series 2021-B, 7.90% 12/15/2050<sup>5</sup> |  | 1125 | 1036 |
| County of Adams, DIATC Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2019, 5.00% 12/1/2039<sup>2</sup> |  | 1245 | 1184 |
| County of Adams, DIATC Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2019, 5.00% 12/1/2049<sup>2</sup> |  | 3000 | 2701 |
| County of Adams, Pomponio Terrace Metropolitan Dist., Limited Tax G.O. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 2925 | 2759 |
| County of Adams, Pomponio Terrace Metropolitan Dist., Limited Tax G.O. Bonds, Series 2019-B, 7.75% 12/15/2049<sup>5</sup> |  | 816 | 770 |
| County of Adams, Rocky Mountain Rail Park Metropolitan Dist., Limited Tax G.O. and Enterprise Rev. Bonds, Series 2021-A, 5.00% 12/1/2051<sup>2</sup> |  | 7350 | 6006 |
| County of Adams, The Village at Dry Creek Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2019, 4.375% 12/1/2044 |  | 1359 | 1163 |
| County of Arapahoe, Copperleaf Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2020-B, 7.875% 12/15/2049<sup>5</sup> |  | 3945 | 3753 |
| County of Arapahoe, Copperleaf Metropolitan Dist. No. 4, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2020-A, 5.00% 12/1/2049 |  | 7530 | 7025 |
| County of Arapahoe, Copperleaf Metropolitan Dist. No. 9, Limited Tax G.O. Bonds, Series 2021, 4.875% 12/1/2051<sup>5</sup> |  | 5000 | 4002 |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 1, Limited Tax G.O. and Special Rev. Ref. Bonds, Series 2020-A, 5.00% 12/1/2049 |  | 2082 | 1861 |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 3, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2021-A-1, 4.00% 12/1/2026 |  | 840 | 795 |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 3, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2021-A-1, 4.00% 12/1/2031 |  | 555 | 492 |

---

<br> American Funds Tax-Exempt Funds 227

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 3, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2021-A-1, 4.00% 12/1/2041 | USD | 2100 | $1617 |
| County of Arapahoe, Fitzsimons Village Metropolitan Dist. No. 3, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2021-A-1, 4.25% 12/1/2055 |  | 9670 | 7013 |
| County of Arapahoe, Gardens of Havana Metropolitan Dist. No. 3, Special Rev. Ref. Bonds, Series 2017-A, 4.625% 12/1/2027 |  | 1740 | 1731 |
| County of Arapahoe, Powhaton Road Metropolitan Dist. No. 3, Limited Tax Supported Rev. Bonds, Series 2021, 5.00% 12/1/2051<sup>5</sup> |  | 5960 | 5137 |
| Arkansas River Power Auth., Power Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2033 |  | 1685 | 1774 |
| Arkansas River Power Auth., Power Supply System Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2043 |  | 4000 | 4046 |
| City of Arvada, Canyon Pines Metropolitan Dist., Special Improvement Dist. No. 1, Special Assessment Rev. Bonds, Series 2021-A-2, 3.75% 12/1/2040 |  | 5000 | 3958 |
| City of Arvada, Haskins Station Metropolitan Dist., Limited Tax G.O. and Special Rev. Bonds, Series 2019-A, 5.00% 12/1/2039 |  | 3830 | 3546 |
| City of Arvada, Haskins Station Metropolitan Dist., Limited Tax G.O. and Special Rev. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 5525 | 4883 |
| City of Arvada, Leyden Ranch Metropolitan Dist., Limited Tax G.O. Tax Bonds, Series 2017-A, 5.125% 12/1/2047 |  | 1107 | 1062 |
| City of Arvada, Leyden Ranch Metropolitan Dist., Limited Tax G.O. Tax Bonds, Series 2017-B, 7.00% 12/15/2047<sup>5</sup> |  | 500 | 469 |
| City of Arvada, Mountain Shadows Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 12/1/2035 |  | 2000 | 1983 |
| City of Arvada, Mountain Shadows Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2016, 5.00% 12/1/2046 |  | 1000 | 943 |
| City of Arvada, Sabell Metropolitan Dist., Limited Tax G.O. Bonds, Series 2020-B-3, 8.25% 12/15/2050<sup>2,5</sup> |  | 606 | 570 |
| City of Arvada, Sabell Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2020-A, 5.00% 12/1/2050<sup>2</sup> |  | 1060 | 943 |
| Town of Ault, Conestoga Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2021-A-3, 5.25% 12/1/2051<sup>5</sup> |  | 1625 | 1465 |
| City of Aurora, Aurora Crossroads Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2040 |  | 1000 | 952 |
| City of Aurora, Aurora Crossroads Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2050 |  | 4065 | 3663 |
| City of Aurora, Buckley Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 6.00% 12/1/2051<sup>5</sup> |  | 29160 | 26250 |
| City of Aurora, Colorado International Center Metropolitan Dist. No. 3, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2016, 4.625% 12/1/2031 |  | 588 | 562 |
| City of Aurora, Colorado International Center Metropolitan Dist. No. 3, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2016, 5.00% 12/1/2046 |  | 3140 | 3003 |
| City of Aurora, Colorado International Center Metropolitan Dist. No. 7, Limited Tax G.O. Bonds, Convertible Capital Appreciation Bonds, Series 2021, 0% 12/1/2051 (5.25% on 12/1/2027)<sup>1</sup> |  | 14150 | 7765 |
| City of Aurora, Colorado Science and Technology Park Metropolitan Dist. No.1, Special Rev. Ref. and Improvement Bonds, Series 2018, 4.375% 12/1/2026 |  | 2642 | 2608 |
| City of Aurora, Colorado Science and Technology Park Metropolitan Dist. No.1, Special Rev. Ref. and Improvement Bonds, Series 2018, 5.00% 12/1/2033 |  | 3040 | 3044 |
| City of Aurora, Colorado Science and Technology Park Metropolitan Dist. No.1, Special Rev. Ref. and Improvement Bonds, Series 2018, 5.25% 12/1/2048 |  | 6255 | 6125 |
| City of Aurora, Cornerstar Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds (Convertible to Unlimited Tax), Series 2017-A, 4.50% 12/1/2027 |  | 1000 | 993 |
| City of Aurora, Forest Trace Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2020-B, 7.875% 12/15/2049<sup>5</sup> |  | 933 | 933 |
| City of Aurora, HM Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Convertible Capital Appreciation Bonds, Series 2021, 0% 12/1/2051 (6.00% on 12/1/2027)<sup>1</sup> |  | 58557 | 29343 |
| City of Aurora, Horizon Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2021-A-3, 4.50% 12/1/2051<sup>2,5</sup> |  | 6380 | 4547 |
| City of Aurora, Inspiration Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021-B, 5.00% 12/15/2036 |  | 788 | 679 |
| City of Aurora, Painted Prairie Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2018, 5.25% 12/1/2048 |  | 1000 | 954 |
| City of Aurora, Parkside at City Centre Business Improvement Dist., Special Rev. and Tax Supported Senior Bonds, Series 2019-A, 6.25% 12/1/2048 |  | 13490 | 13218 |
| City of Aurora, Pronghorn Valley Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021-B, 7.25% 12/15/2051<sup>5</sup> |  | 524 | 475 |
| City of Aurora, Pronghorn Valley Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021-A, 3.75% 12/1/2041 |  | 3100 | 2463 |

---

<br> 228 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| City of Aurora, Pronghorn Valley Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021-A, 4.00% 12/1/2051 | USD | 3275 | $2503 |
| City of Aurora, Senac South Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021-A-3, 5.25% 12/1/2051<sup>5</sup> |  | 10415 | 9152 |
| City of Aurora, Serenity Ridge Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 4.50% 12/1/2028 (preref. 12/1/2023) |  | 392 | 410 |
| City of Aurora, Serenity Ridge Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.125% 12/1/2037 (preref. 12/1/2023) |  | 550 | 577 |
| City of Aurora, Serenity Ridge Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.125% 12/1/2043 (preref. 12/1/2023) |  | 500 | 525 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2037 |  | 2265 | 2267 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-2, 5.00% 12/1/2037 |  | 600 | 601 |
| City of Aurora, Southlands Metropolitan Dist. No. 1, G.O. Rev. Ref. Bonds, Series 2017-A-1, 5.00% 12/1/2047 |  | 3085 | 2958 |
| City of Aurora, Tallyn's Reach Metropolitan Dist. No. 3, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2013, 5.00% 12/1/2033<sup>2</sup> |  | 369 | 376 |
| City of Aurora, Transport Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2021-A-1, 4.125% 12/1/2031 |  | 800 | 733 |
| City of Aurora, Transport Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Capital Appreciation Bonds, Series 2021-A-1, 4.125% 12/1/2051<sup>1</sup> |  | 3000 | 2278 |
| City of Aurora, Velocity Metropolitan Dist. No. 5, Limited Tax G.O. Bonds, Series 2022-B, 8.00% 12/15/2039<sup>5</sup> |  | 14190 | 13244 |
| City of Aurora, Windler Public Improvement Auth., Limited Tax Supported Rev. Bonds, Series 2021-A-1, 4.00% 12/1/2041 |  | 2135 | 1637 |
| City of Aurora, Windler Public Improvement Auth., Limited Tax Supported Rev. Bonds, Series 2021-A-1, 4.125% 12/1/2051 |  | 22000 | 15618 |
| Town of Bennett, Section 27 Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 4.50% 12/1/2051<sup>5</sup> |  | 4160 | 3202 |
| City of Brighton, Brighton Crossing Metropolitan Dist. No. 6, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2040 |  | 515 | 483 |
| City of Brighton, Brighton Crossing Metropolitan Dist. No. 6, Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2050 |  | 4000 | 3495 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-B, 6.375% 12/15/2047 |  | 1000 | 998 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 2411 | 2064 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 1000 | 859 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 1000 | 859 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 800 | 697 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 700 | 607 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 692 | 594 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 658 | 571 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 650 | 558 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 51 | 44 |
| City of Brighton, Bromley Park Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2018-D, 7.85% 12/15/2047<sup>5</sup> |  | 38 | 33 |
| City of Brighton, Prairie Corner Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 4.875% 12/1/2051 |  | 3000 | 2397 |
| City and County of Broomfield, Arista Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.00% 12/1/2038 |  | 6700 | 6606 |
| City and County of Broomfield, Arista Metropolitan Dist., Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2018-A, 5.125% 12/1/2048 |  | 19575 | 18650 |
| City and County of Broomfield, Aspen Street Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021-A-3, 5.125% 12/1/2050<sup>5</sup> |  | 5389 | 4399 |
| City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Bonds, Series 2021-A, 5.00% 12/1/2051 |  | 2500 | 2212 |
| City and County of Broomfield, Baseline Metropolitan Dist. No. 1, Special Rev. Bonds, Series 2021-B, 7.50% 12/15/2051<sup>5</sup> |  | 2190 | 2002 |
| City and County of Broomfield, BBC Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds, Series 2021, 4.75% 12/1/2051<sup>5</sup> |  | 15745 | 12383 |

---

<br> American Funds Tax-Exempt Funds 229

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| City and County of Broomfield, Broomfield Village Metropolitan Dist. No. 2, Limited Tax G.O. and Rev. Bonds, Series 2021-A-2, 5.00% 12/1/2049<sup>2</sup> | USD | 735 | $670 |
| City and County of Broomfield, Broomfield Village Metropolitan Dist. No. 2, Limited Tax G.O. and Rev. Ref. Bonds, Series 2021-A-1, 5.00% 12/1/2049<sup>2</sup> |  | 2909 | 2672 |
| City and County of Broomfield, Highlands Metropolitan Dist. No. 1, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021, 4.00% 12/1/2031 |  | 650 | 588 |
| City and County of Broomfield, Highlands Metropolitan Dist. No. 1, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021, 5.00% 12/1/2051 |  | 575 | 497 |
| City and County of Broomfield, Highlands Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2022, 6.75% 12/1/2051<sup>5</sup> |  | 5975 | 5807 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 5.00% 12/15/2025 |  | 1525 | 1380 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 5.75% 12/15/2046 |  | 4950 | 3331 |
| City and County of Broomfield, Lambertson Farms Metropolitan Dist. No. 1, Rev. Ref. and Improvement Bonds, Series 2015, 6.00% 12/15/2050 |  | 4200 | 2839 |
| City and County of Broomfield, Palisade Metropolitan Dist. No. 2, Limited Tax G.O. and Rev. Bonds, Series 2019, 7.25% 12/15/2049<sup>5</sup> |  | 8424 | 7875 |
| City and County of Broomfield, Palisade Park North Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2021, 5.50% 12/1/2051<sup>5</sup> |  | 38562 | 30943 |
| Town of Castle Rock, Castleview Metropolitan Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A-3, 5.00% 12/1/2050<sup>5</sup> |  | 4720 | 3865 |
| Town of Castle Rock, Lanterns Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021-A-3, 4.50% 12/1/2050<sup>5</sup> |  | 2830 | 2095 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 3.50% 12/1/2026 |  | 500 | 485 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2030 |  | 5140 | 5159 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2036 |  | 1620 | 1610 |
| City of Centennial, Southglenn Metropolitan Dist., Special Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2046 |  | 5200 | 4970 |
| City of Colorado Springs, Banning Lewis Ranch Metropolitan Dist. No. 8, Limited Tax G.O. Bonds, Series 2021, 4.875% 12/1/2051<sup>2,5</sup> |  | 3000 | 2389 |
| City of Colorado Springs, Copper Ridge Metropolitan Dist., Tax Increment and Sales Tax Rev. Bonds, Series 2019, 4.00% 12/1/2029 |  | 7571 | 7037 |
| City of Colorado Springs, Copper Ridge Metropolitan Dist., Tax Increment and Sales Tax Rev. Bonds, Series 2019, 5.00% 12/1/2039 |  | 1500 | 1412 |
| City of Colorado Springs, Copper Ridge Metropolitan Dist., Tax Increment and Sales Tax Rev. Bonds, Series 2019, 5.00% 12/1/2043 |  | 4500 | 4098 |
| City of Colorado Springs, Gold Hill Mesa Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2022-B, 7.00% 12/15/2039 |  | 3847 | 3798 |
| City of Colorado Springs, Greenways Metropolitan Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A-3, 4.625% 12/1/2051<sup>5</sup> |  | 2116 | 1524 |
| City of Colorado Springs, Mountain Vista Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 4.875% 12/1/2050<sup>2,5</sup> |  | 12000 | 9588 |
| City of Colorado Springs, Peak Metropolitan Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-B, 7.625% 12/15/2051<sup>2,5</sup> |  | 1651 | 1518 |
| City of Colorado Springs, Vistas at West Mesa Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022, 6.75% 12/1/2051<sup>2,5</sup> |  | 1381 | 1381 |
| Commerce City, Buffalo Ridge Metropolitan Dist., Limited Tax G.O. Bonds, Series 2018-B, 7.375% 12/15/2047<sup>5</sup> |  | 2701 | 2645 |
| Commerce City, Nexus North at DIA Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2041 |  | 520 | 484 |
| Commerce City, Nexus North at DIA Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051 |  | 570 | 505 |
| Commerce City, Reunion Metropolitan Dist., Special Rev. Bonds, Series 2021-A, 3.625% 12/1/2044 |  | 11975 | 8986 |
| City and County of Denver, 9th Avenue Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2018, 5.00% 12/1/2048 |  | 2474 | 2271 |
| City and County of Denver, Airport System Rev. Bonds, Series 2022-A, AMT, 4.125% 11/15/2053 |  | 2750 | 2687 |
| City and County of Denver, Broadway Park North Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2020, 5.00% 12/1/2040<sup>2</sup> |  | 1325 | 1291 |
| City and County of Denver, Broadway Park North Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2020, 5.00% 12/1/2049<sup>2</sup> |  | 1550 | 1464 |
| City and County of Denver, Broadway Station Metropolitan Dist. No. 3, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Convertible Capital Appreciation Bonds, Series 2019-B, 0% 12/1/2049 (7.50% on 12/1/2027)<sup>1</sup> |  | 20665 | 13017 |
| City and County of Denver, Colorado International Center Metropolitan Dist. No. 14, Limited Tax G.O. Bonds, Series 2022, 7.50% 12/15/2051<sup>5</sup> |  | 16508 | 15447 |
| City and County of Denver, Colorado International Center Metropolitan Dist. No. 14, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2018, 5.875% 12/1/2046 |  | 15475 | 15454 |

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<br> 230 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| City and County of Denver, Denver Gateway Meadows Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 6.00% 12/1/2051<sup>5</sup> | USD | 9580 | $8624 |
| City and County of Denver, Dept. of Aviation, Special Facs. Airport Rev. Ref. Bonds (United Air Lines Project), Series 2017, AMT, 5.00% 10/1/2032 |  | 1655 | 1660 |
| City and County of Denver, Loretto Heights Community Auth., Special Rev. Bonds, Series 2021, 4.875% 12/1/2051<sup>5</sup> |  | 6000 | 4756 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2026 |  | 1700 | 1810 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2027 |  | 2500 | 2658 |
| City and County of Denver, Park Creek Metropolitan Dist., Limited Property Tax Supported Rev. Ref. Bonds, Series 2015-A, 5.00% 12/1/2033 |  | 1000 | 1052 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2013-A-1, 5.00% 12/1/2024 |  | 2000 | 2003 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2018-A, 5.25% 12/1/2039<sup>2</sup> |  | 6360 | 6463 |
| City of Denver, Urban Renewal Auth., Stapleton Tax Increment Rev. Bonds, Series 2018-A, 5.25% 12/1/2039<sup>2</sup> |  | 3320 | 3369 |
| County of Douglas, Canyons Metropolitan Dist. No. 3, Limited Tax G.O. and Special Rev. Bonds, Series 2021, 5.50% 12/1/2051<sup>5</sup> |  | 16000 | 13935 |
| County of Douglas, Chambers Highpoint Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2021, 5.00% 12/1/2041 |  | 515 | 480 |
| County of Douglas, Chambers Highpoint Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2021, 5.00% 12/1/2051 |  | 835 | 740 |
| County of Douglas, Cielo Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021-3, 5.25% 12/1/2050<sup>5</sup> |  | 2500 | 2077 |
| County of Douglas, Hilltop Metropolitan Dist., Limited Tax G.O. Bonds, Series 2020-A, AMT, 6.25% 12/1/2050 |  | 1655 | 1528 |
| E-470 Public Highway Auth., Rev. Bonds, Series 2021-B, (USD-SOFR x 0.67 + 0.35%) 3.231% 9/1/2039 (put 9/1/2024)<sup>3</sup> |  | 1020 | 1016 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2006-B, National insured, 0% 9/1/2037 |  | 5065 | 2554 |
| E-470 Public Highway Auth., Rev. Bonds, Capital Appreciation Bonds, Series 2010, 0% 9/1/2040 |  | 3610 | 1760 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2041 |  | 85 | 76 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2051 |  | 300 | 253 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Aspen View Academy Project), Series 2021, 4.00% 5/1/2061 |  | 495 | 400 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Vega Collegiate Academy Project), Series 2021-A, 5.00% 2/1/2034<sup>2</sup> |  | 300 | 300 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Vega Collegiate Academy Project), Series 2021-A, 5.00% 2/1/2051<sup>2</sup> |  | 900 | 809 |
| Educational and Cultural Facs. Auth., Charter School Rev. Bonds (Vega Collegiate Academy Project), Series 2021-A, 5.00% 2/1/2061<sup>2</sup> |  | 1435 | 1270 |
| Educational and Cultural Facs. Auth., Rev. Ref. Bonds (University of Denver), Series 2007, National insured, 5.25% 3/1/2025 |  | 1000 | 1038 |
| County of El Paso, Flying Horse Metropolitan Dist. No. 3, Limited Tax G.O. Rev. Ref. Bonds, Series 2019, 6.00% 12/1/2049<sup>2,5</sup> |  | 4965 | 4824 |
| County of El Paso, Glen Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2021, 4.25% 12/1/2051 |  | 2870 | 2152 |
| County of El Paso, Wagons West Metropolitan Dist., Limited Tax G.O. Bonds, Series 2020-A, 5.00% 12/1/2049 |  | 1185 | 1026 |
| County of El Paso, Waterview II Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022-A, 4.50% 12/1/2031 |  | 530 | 489 |
| County of El Paso, Waterview II Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022-A, 5.00% 12/1/2041 |  | 1250 | 1164 |
| County of El Paso, Waterview II Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022-A, 5.00% 12/1/2051<sup>5</sup> |  | 3280 | 2906 |
| County of El Paso, Waterview II Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022-B-3, 8.00% 12/15/2051<sup>5</sup> |  | 2916 | 2754 |
| County of Elbert, Elbert and Highway 86 Commercial Metropolitan Dist., Special Rev. and Tax Supported Rev. Ref. and Improvement Bonds, Series 2021-A, 5.00% 12/1/2041<sup>2</sup> |  | 1700 | 1563 |
| County of Elbert, Elbert and Highway 86 Commercial Metropolitan Dist., Special Rev. and Tax Supported Rev. Ref. and Improvement Bonds, Series 2021-A, 5.00% 12/1/2051<sup>2</sup> |  | 3000 | 2565 |
| County of Elbert, Independence Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2019-A, 6.25% 12/1/2049 |  | 5700 | 5307 |
| Town of Elizabeth, Highway 86 Metropolitan Dist., Limited Tax G.O. Cash Flow Bonds, Series 2021-A-3, 5.125% 12/1/2051<sup>5</sup> |  | 1015 | 853 |
| Town of Erie, Erie Commons Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-B, 6.95% 12/15/2054<sup>5</sup> |  | 3100 | 2894 |
| Town of Erie, Four Corners Business Improvement Dist., Limited Tax Rev. Bond, Series 2022, 6.00% 12/1/2052 |  | 4000 | 3750 |
| Town of Erie, Jay Grove Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 4.25% 12/1/2051<sup>5</sup> |  | 2450 | 1865 |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2021-A-1, 5.00% 12/1/2040 |  | 1000 | 942 |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2021-A-1, 5.00% 12/1/2050 |  | 1500 | 1334 |

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<br> American Funds Tax-Exempt Funds 231

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| Town of Erie, Westerly Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Capital Appreciation Bonds, Series 2021-A-2, 0% 12/1/2050<sup>1</sup> | USD | 1000 | $680 |
| Town of Firestone, Cottonwood Hollow Residential Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051<sup>5</sup> |  | 13573 | 11235 |
| City of Fort Collins, Waters' Edge Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051<sup>5</sup> |  | 4445 | 3778 |
| City of Fort Lupton, Lupton Village Residential Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 4.625% 12/1/2051<sup>5</sup> |  | 10130 | 7708 |
| City of Fort Lupton, Murata Farms Residential Metropolitan Dist., Limited Tax G.O. Bonds, Series 2022, 6.125% 12/1/2051<sup>5</sup> |  | 4205 | 3866 |
| Town of Frederick, Hidden Creek Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021-A-3, 4.625% 12/1/2045<sup>2,5</sup> |  | 2290 | 1843 |
| County of Grand, Roam Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 6.00% 12/1/2051<sup>5</sup> |  | 21875 | 19487 |
| City of Greeley, Lake Bluff Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2021, 5.25% 12/1/2051<sup>5</sup> |  | 25500 | 21796 |
| City of Greeley, Westgate Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 5.375% 12/1/2051<sup>5</sup> |  | 12538 | 10819 |
| City of Greenwood Village, Fiddler's Business Improvement Dist., G.O. Rev. Ref. Bonds, Series 2022, 5.00% 12/1/2032<sup>2</sup> |  | 605 | 619 |
| City of Greenwood Village, Fiddler's Business Improvement Dist., G.O. Rev. Ref. Bonds, Series 2022, 5.55% 12/1/2047<sup>2</sup> |  | 5505 | 5608 |
| Health Facs. Auth., Health Care Facs. Rev. Bonds (American Baptist Homes of the Midwest Obligated Group), Series 2013, 8.00% 8/1/2043 |  | 11100 | 11261 |
| Health Facs. Auth., Health Facs. Rev. and Rev. Ref. Bonds (Evangelical Lutheran Good Samaritan Society Project), Series 2017, 5.00% 6/1/2047 (preref. 6/1/2027) |  | 3520 | 3906 |
| Health Facs. Auth., Hospital Rev. Bonds (AdventHealth Obligated Group), Series 2021-A, 3.00% 11/15/2051 |  | 7375 | 5795 |
| Health Facs. Auth., Hospital Rev. Bonds (Parkview Medical Center, Inc. Project), Series 2020-A, 4.00% 9/1/2050 |  | 4000 | 3470 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-A-2, 4.00% 8/1/2049 |  | 7000 | 6592 |
| Health Facs. Auth., Rev. Bonds (CommonSpirit Health), Series 2019-B-2, 5.00% 8/1/2049 (put 8/1/2026) |  | 1000 | 1056 |
| Health Facs. Auth., Rev. Bonds (Covenant Living Communities and Services), Series 2020-A, 4.00% 12/1/2050 |  | 750 | 640 |
| Health Facs. Auth., Rev. Bonds (Covenant Retirement Communities, Inc.), Series 2018, 5.00% 12/1/2048 |  | 2480 | 2510 |
| Health Facs. Auth., Rev. Bonds (Senior Residences Project), Series 2012, 7.00% 6/1/2042<sup>6</sup> |  | 2500 | 1250 |
| Health Facs. Auth., Rev. Bonds (Senior Residences Project), Series 2012, 7.125% 6/1/2047<sup>6</sup> |  | 5500 | 2750 |
| Health Facs. Auth., Rev. Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-B, 5.00% 5/15/2027 |  | 1055 | 1062 |
| Health Facs. Auth., Rev. Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-B, 5.00% 5/15/2039 |  | 2045 | 2059 |
| Health Facs. Auth., Rev. Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-B, 5.00% 5/15/2048 |  | 3890 | 3916 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2019, 4.00% 1/1/2038 |  | 1700 | 1368 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2019, 5.00% 1/1/2038 |  | 6555 | 5975 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Christian Living Neighborhoods Project), Series 2021, 4.00% 1/1/2042 |  | 1965 | 1502 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-A, 5.00% 5/15/2027 |  | 480 | 483 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-A, 5.25% 5/15/2031 |  | 2395 | 2407 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-A, 5.25% 5/15/2032 |  | 1050 | 1053 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-A, 5.25% 5/15/2037 |  | 2300 | 2282 |
| Health Facs. Auth., Rev. Ref. and Improvement Bonds (Frasier Meadows Retirement Community Project), Series 2017-A, 5.25% 5/15/2047 |  | 1500 | 1427 |
| Health Facs. Auth., Rev. Ref. Bonds (Christian Living Neighborhoods Project), Series 2016, 5.00% 1/1/2037 |  | 8900 | 8186 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2015-A, 5.00% 12/1/2029 |  | 750 | 767 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2015-A, 5.00% 12/1/2035 |  | 210 | 213 |
| Health Facs. Auth., Rev. Ref. Bonds (Covenant Retirement Communities, Inc.), Series 2013-A, 5.75% 12/1/2036 |  | 1000 | 1028 |
| Health Facs. Auth., Rev. Ref. Bonds (Frasier Project), Series 2023-A, 4.00% 5/15/2041 |  | 1420 | 1155 |
| Health Facs. Auth., Rev. Ref. Bonds (Frasier Project), Series 2023-A, 4.00% 5/15/2048 |  | 4210 | 3175 |
| City and County of Jefferson, Dinosaur Ridge Metropolitan Dist., Special Rev. Ref. and Improvement Bonds, Series 2019, 5.00% 6/1/2049 |  | 6535 | 6074 |

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<br> 232 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| County of Jefferson, Hogback Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021-A-3, 5.00% 12/1/2041 | USD | 725 | $675 |
| County of Jefferson, Hogback Metropolitan Dist., Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2021-A-3, 5.00% 12/1/2051 |  | 2550 | 2259 |
| County of Jefferson, RRC Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 5.25% 12/1/2051<sup>5</sup> |  | 20000 | 17188 |
| County of Jefferson, Three Hills Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.625% 12/1/2051<sup>5</sup> |  | 12205 | 10745 |
| County of Jefferson and City and County of Broomfield, Verve Metropolitan Dist. No. 1, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2021, 5.00% 12/1/2041 |  | 2250 | 2188 |
| County of Jefferson and City and County of Broomfield, Verve Metropolitan Dist. No. 1, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2021, 5.00% 12/1/2051 |  | 1770 | 1589 |
| Town of Johnstown, Granary Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2022, 6.75% 12/1/2051<sup>5</sup> |  | 18768 | 17927 |
| Town of Johnstown, Johnstown Farms East Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051<sup>2,5</sup> |  | 1500 | 1285 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2019, 5.00% 12/1/2039 |  | 1400 | 1360 |
| Town of Johnstown, Thompson Crossing Metropolitan Dist. No. 4, Limited Tax G.O. Rev. Ref. and Improvement Bonds (Convertible to Unlimited Tax), Series 2019, 5.00% 12/1/2049 |  | 6875 | 6266 |
| County of La Plata, Three Sprints Metropolitan Dist. No. 1, Limited Tax G.O. Rev. Ref. Bonds, Series 2020-B, 7.125% 12/15/2050<sup>5</sup> |  | 2685 | 2462 |
| County of Larimer, East Fossil Creek Ranch Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021-A, 6.00% 12/1/2048<sup>5</sup> |  | 4750 | 4361 |
| City of Littleton, Littleton Village Metropolitan Dist. No. 2, Special Rev. Ref. Bonds, Series 2018-B, 7.625% 12/15/2028<sup>5</sup> |  | 2420 | 2408 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series 2021, 4.00% 12/1/2036 |  | 1600 | 1364 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series 2021, 4.00% 12/1/2041 |  | 7500 | 5921 |
| City of Lone Tree, Rampart Range Metropolitan Dist. No. 5, Limited Tax Supported and Special Rev. Bonds, Series 2021, 4.00% 12/1/2051 |  | 26050 | 18640 |
| City of Loveland, Cascade Ridge Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051<sup>5</sup> |  | 3000 | 2557 |
| City of Loveland, Eagle Brook Meadows Metropolitan Dist. No. 3, Limited Tax G.O. Bonds, Series 2021, 5.00% 12/1/2051<sup>5</sup> |  | 1600 | 1407 |
| Town of Mead, Liberty Ranch Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds, Series 2021-A, 5.25% 12/1/2051<sup>5</sup> |  | 6590 | 5663 |
| Town of Parker, Cherry Creek South Metropolitan Dist. No. 5, Limited Tax G.O. Bonds, Series 2021, 6.00% 12/1/2051<sup>5</sup> |  | 36049 | 32310 |
| Town of Parker, Cottonwood Highlands Metropolitan Dist. No. 1, Limited Tax G.O. Bonds (Convertible to Unlimited Tax), Series 2019-A, 5.00% 12/1/2049 |  | 2200 | 2037 |
| Town of Parker, Overlook Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds, Series 2021-B, 5.50% 12/15/2051<sup>5</sup> |  | 1033 | 900 |
| Town of Parker, Reata Ridge Village Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 1803 | 1691 |
| Town of Parker, Reata Ridge Village Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-B, 8.00% 12/15/2049<sup>5</sup> |  | 614 | 587 |
| Town of Parker, Westcreek Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-A, 5.375% 12/1/2048 |  | 800 | 775 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.125% 11/15/2023 |  | 715 | 730 |
| Public Auth. for Colorado Energy, Natural Gas Purchase Rev. Bonds, Series 2008, 6.25% 11/15/2028 |  | 2000 | 2197 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-B, 4.00% 7/15/2034 |  | 1000 | 1021 |
| Regional Transportation Dist., Private Activity Bonds (Denver Transit Partners Eagle P3 Project), Series 2020-A, 4.00% 7/15/2035 |  | 7260 | 7334 |
| Town of Severance, Hunters Overlook Metropolitan Dist. No. 5, Limited Tax G.O. Bonds, Series 2019-A, 5.00% 12/1/2039 |  | 3512 | 3421 |
| Town of Severance, Hunters Overlook Metropolitan Dist. No. 5, Limited Tax G.O. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 2985 | 2774 |
| Town of Severance, Hunters Overlook Metropolitan Dist. No. 5, Limited Tax G.O. Bonds, Series 2019-B, 8.50% 12/15/2049<sup>5</sup> |  | 1825 | 1736 |
| Town of Snowmass Village, Base Village Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 5.50% 12/1/2036 |  | 4543 | 4582 |
| Town of Snowmass Village, Base Village Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 5.75% 12/1/2046 |  | 2585 | 2600 |
| Town of Snowmass Village, Base Village Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. Bonds, Series 2016-A, 6.50% 12/15/2048<sup>5</sup> |  | 3500 | 2404 |

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<br> American Funds Tax-Exempt Funds 233

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Colorado (continued)** |  |  |  |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Bonds, Series 2019-B, 8.00% 12/15/2049<sup>5</sup> | USD | 6954 | $6617 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2019-A, 4.00% 12/1/2029 |  | 1870 | 1771 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2019-A, 5.00% 12/1/2038 |  | 14205 | 13835 |
| Town of Superior, STC Metropolitan Dist. No. 2, Limited Tax G.O. and Special Rev. Ref. and Improvement Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 12595 | 11867 |
| County of Weld, Tri-Pointe Residential Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds, Series 2021, 4.50% 12/1/2051 |  | 24140 | 18214 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2022-A-3-1, 5.00% 12/1/2042 |  | 3600 | 3237 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2022-A-3-1, 5.00% 12/1/2051 |  | 11000 | 9100 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A-3-2, 0% 12/1/2051 (4.625% on 12/1/2027)<sup>1</sup> |  | 5130 | 3056 |
| County of Weld, Waterfront at Foster Lake Metropolitan Dist. No. 2, Special Rev. Bonds, Series 2022, 4.625% 12/1/2028<sup>5</sup> |  | 19500 | 18080 |
| City of Wheat Ridge, Longs Peak Metropolitan Dist., Limited Tax G.O. Bonds, Series 2021, 5.25% 12/1/2051<sup>2,5</sup> |  | 27410 | 23772 |
| Town of Windsor, Great Western Metropolitan Dist. No. 5, Limited Tax G.O. Rev. Ref. Bonds, Series 2020, 4.75% 12/1/2050 |  | 2750 | 2396 |
| Town of Windsor, Iron Mountain Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2019-B, 8.00% 12/15/2049<sup>5</sup> |  | 1000 | 939 |
| Town of Windsor, Iron Mountain Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2019-A, 5.00% 12/1/2039 |  | 1635 | 1574 |
| Town of Windsor, Iron Mountain Metropolitan Dist. No. 2, Limited Tax G.O. Rev. Ref. and Improvement Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 2510 | 2274 |
| Town of Windsor, Jacoby Farm Metropolitan Dist., Limited Tax G.O. Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2046<sup>2,5</sup> |  | 4750 | 4270 |
| Town of Windsor, Prarie Song Metropolitan Dist. No. 4, Limited Tax G.O. Bonds, Series 2021, 6.00% 12/1/2051<sup>5</sup> |  | 9237 | 8315 |
| Town of Windsor, Ptarmigan West Metropolitan Dist. No. 2, Limited Tax G.O. Bonds, Series 2021, 4.125% 12/1/2051 |  | 4000 | 2891 |
|  |  |  | **1072617** |
| **Connecticut 0.68%** |  |  |  |
| Airport Auth., Customer Fac. Charge Rev. Bonds (Ground Transportation Center Project), Series 2019-A, AMT, 4.00% 7/1/2049 |  | 2090 | 1806 |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor Project), Series 2021, 4.00% 4/1/2036<sup>2</sup> |  | 610 | 552 |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor Project), Series 2021, 4.00% 4/1/2041<sup>2</sup> |  | 685 | 585 |
| City of Bridgeport, Steel Point Infrastructure Improvement Dist., Special Obligation Rev. Bonds (Steelpointe Harbor Project), Series 2021, 4.00% 4/1/2051<sup>2</sup> |  | 2865 | 2270 |
| Health and Educational Facs. Auth., Rev. Bonds (Griffin Hospital Issue), Series 2020-G-1, 5.00% 7/1/2039<sup>2</sup> |  | 1000 | 996 |
| Health and Educational Facs. Auth., Rev. Bonds (Griffin Hospital Issue), Series 2020-G-1, 5.00% 7/1/2044<sup>2</sup> |  | 1000 | 982 |
| Health and Educational Facs. Auth., Rev. Bonds (Healthcare Fac. Expansion Issue - Church Home of Hartford, Inc. Project), Series 2016-A, 5.00% 9/1/2053<sup>2</sup> |  | 1640 | 1488 |
| Health and Educational Facs. Auth., Rev. Bonds (McLean Affiliates, Inc.), Series 2020-A, 5.00% 1/1/2045<sup>2</sup> |  | 1455 | 1406 |
| Health and Educational Facs. Auth., Rev. Bonds (McLean Affiliates, Inc.), Series 2020-A, 5.00% 1/1/2055<sup>2</sup> |  | 1625 | 1524 |
| Health and Educational Facs. Auth., Rev. Bonds (Sacred Heart University Issue), Series 2022-L, 5.00% 7/1/2052 |  | 3000 | 3204 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2039 |  | 1525 | 1472 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2040 |  | 515 | 492 |
| Health and Educational Facs. Auth., Rev. Bonds (Stamford Hospital Issue), Series 2022-M, 4.00% 7/1/2042 |  | 330 | 308 |
| Health and Educational Facs. Auth., Rev. Bonds (The Jerome Home Issue), Series 2021-E, 4.00% 7/1/2041 |  | 610 | 530 |
| Health and Educational Facs. Auth., Rev. Bonds (The Jerome Home Issue), Series 2021-E, 4.00% 7/1/2051 |  | 1250 | 1009 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2026 |  | 280 | 298 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2027 |  | 150 | 162 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2028 |  | 205 | 224 |

---

<br> 234 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Connecticut (continued)** |  |  |  |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 5.00% 11/15/2029 | USD | 550 | $608 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2017-A, AMT, 4.00% 11/15/2031 (preref. 11/15/2025) |  | 585 | 606 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2017-A, AMT, 4.125% 11/15/2032 (preref. 11/15/2025) |  | 580 | 602 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2017-A, AMT, 4.125% 11/15/2033 (preref. 11/15/2025) |  | 290 | 301 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2020-B, AMT, 3.25% 11/15/2036 |  | 1640 | 1489 |
| Higher Education Supplemental Loan Auth., Rev. Bonds (Chesla Loan Program), Series 2021-B, AMT, 2.25% 11/15/2037 |  | 2500 | 2032 |
| Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2018-A-2, AMT, 4.00% 11/15/2041 |  | 770 | 771 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Bonds, Series 2016-A, 5.50% 8/1/2026<sup>2</sup> |  | 3455 | 3494 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-C, 6.25% 2/1/2030<sup>2</sup> |  | 5500 | 5739 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2020-B, 6.50% 8/1/2035<sup>2</sup> |  | 14090 | 14943 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015-A, 6.75% 2/1/2045<sup>2</sup> |  | 9212 | 9227 |
| Mohegan Tribe of Indians, Gaming Auth., Priority Distribution Payment Rev. Ref. Bonds, Series 2015, 7.00% 2/1/2045<sup>2</sup> |  | 2390 | 2394 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2017, 5.00% 4/1/2030<sup>2</sup> |  | 3125 | 3182 |
| City of Stamford, Harbor Point Infrastructure Improvement Dist., Special Obligation Rev. Ref. Bonds (Harbor Point Project), Series 2017, 5.00% 4/1/2039<sup>2</sup> |  | 7305 | 7314 |
|  |  |  | **72010** |
| **Delaware 0.08%** |  |  |  |
| Econ. Dev. Auth., Charter School Rev. Bonds (Aspira of Delaware Charter Operations, Inc. Project), Series 2016-A, 5.00% 6/1/2046 |  | 300 | 294 |
| Econ. Dev. Auth., Charter School Rev. Bonds (Aspira of Delaware Charter Operations, Inc. Project), Series 2016-A, 5.00% 6/1/2051 |  | 1350 | 1304 |
| Econ. Dev. Auth., Exempt Fac. Rev. Ref. Bonds (NRG Energy Project), Series 2020-A, 1.25% 10/1/2040 (put 10/1/2025) |  | 4495 | 4169 |
| Health Facs. Auth., Rev. Bonds (Beebe Medical Center Project), Series 2018, 5.00% 6/1/2050 |  | 2235 | 2277 |
| University of Delaware, Rev. Bonds, Series 2013-A, 5.00% 11/1/2043 |  | 265 | 267 |
|  |  |  | **8311** |
| **District of Columbia 0.50%** |  |  |  |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2010-B, 6.50% 10/1/2044<sup>1</sup> |  | 5000 | 5739 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Capital Appreciation Bonds, Series 2010-A, Assured Guaranty Municipal insured, 0% 10/1/2037 |  | 10255 | 5471 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Bonds (Dulles Metrorail and Capital Improvement Projects), Capital Appreciation Bonds, Series 2010-A, 0% 10/1/2037 |  | 10000 | 5229 |
| Metropolitan Washington DC Airports Auth., Dulles Toll Road Rev. Ref. Bonds (Dulles Metrorail and Capital Improvement Projects), Series 2019-B, 4.00% 10/1/2053 |  | 8000 | 7503 |
| Rev. Bonds (DC International School Issue), Series 2019, 5.00% 7/1/2039 |  | 1000 | 1033 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2036 |  | 1295 | 1330 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2041 |  | 1545 | 1570 |
| Rev. Bonds (Friendship Public Charter School, Inc. Issue), Series 2016-A, 5.00% 6/1/2046 |  | 1850 | 1871 |
| Rev. Bonds (Rocketship DC Obligated Group), Series 2021-A, 5.00% 6/1/2041<sup>2</sup> |  | 1250 | 1240 |
| Rev. Bonds (Rocketship DC Obligated Group), Series 2021-A, 5.00% 6/1/2061<sup>2</sup> |  | 3600 | 3330 |
| Rev. Ref. Bonds (KIPP DC Issue), Series 2017-B, 5.00% 7/1/2048 |  | 4220 | 4260 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2006-A, 0% 6/15/2046 |  | 60820 | 14435 |
|  |  |  | **53011** |

---

<br> American Funds Tax-Exempt Funds 235

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida 4.36%** |  |  |  |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2021, 4.00% 10/1/2040 | USD | 1220 | $1041 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2022, 4.00% 10/1/2040 |  | 1025 | 874 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2021, 4.00% 10/1/2046 |  | 1605 | 1294 |
| County of Alachua, Health Facs. Auth., Continuing Care Retirement Community Rev. Bonds (Oak Hammock at the University of Florida, Inc. Project), Series 2022, 4.00% 10/1/2046 |  | 1750 | 1411 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Bonds (Shands HealthCare Project), Series 2007-A, (3-month USD-LIBOR x 0.67 + 0.87%) 4.059% 12/1/2037<sup>3</sup> |  | 2095 | 2004 |
| County of Alachua, Health Facs. Auth., Health Facs. Rev. Ref. Bonds, Series 2019-A, 4.00% 12/1/2049 |  | 2500 | 2361 |
| County of Alachua, Parker Road Community Dev. Dist., Capital Improvement Rev. Ref. and Rev. Bonds, Series 2020, 3.10% 5/1/2025 |  | 170 | 166 |
| County of Alachua, Parker Road Community Dev. Dist., Capital Improvement Rev. Ref. and Rev. Bonds, Series 2020, 3.375% 5/1/2030 |  | 335 | 308 |
| County of Alachua, Parker Road Community Dev. Dist., Capital Improvement Rev. Ref. and Rev. Bonds, Series 2020, 3.875% 5/1/2040 |  | 900 | 764 |
| County of Alachua, Parker Road Community Dev. Dist., Capital Improvement Rev. Ref. and Rev. Bonds, Series 2020, 4.10% 5/1/2050 |  | 1000 | 817 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2043 |  | 365 | 360 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2048 |  | 5000 | 4872 |
| City of Atlantic Beach, Health Care Facs. Rev. Bonds (Fleet Landing Project), Series 2018-A, 5.00% 11/15/2053 |  | 2450 | 2364 |
| County of Brevard, Educational Facs. Auth., Demand Rev. Bonds (Florida Institute of Technology Project), Series 2014, 5.00% 4/1/2032 |  | 2470 | 2526 |
| County of Brevard, Educational Facs. Auth., Demand Rev. Bonds (Florida Institute of Technology Project), Series 2014, 5.00% 4/1/2039 |  | 750 | 767 |
| County of Broward, Airport System Rev. Ref. Bonds, Series 2013-A, AMT, 5.25% 10/1/2043 (preref. 10/1/2023) |  | 2000 | 2034 |
| Capital Projects Fin. Auth., Student Housing Rev. Ref. Bonds (Capital Projects Loan Program - Florida Universities), Series 2020-A-1, 5.00% 10/1/2029 |  | 1000 | 1037 |
| Capital Projects Fin. Auth., Student Housing Rev. Ref. Bonds (Capital Projects Loan Program - Florida Universities), Series 2020-A-1, 5.00% 10/1/2030 |  | 1000 | 1037 |
| Capital Projects Fin. Auth., Student Housing Rev. Ref. Bonds (Capital Projects Loan Program - Florida Universities), Series 2020-A-1, 5.00% 10/1/2033 |  | 1500 | 1539 |
| Capital Projects Fin. Auth., Student Housing Rev. Ref. Bonds (Capital Projects Loan Program - Florida Universities), Series 2020-A-1, 5.00% 10/1/2035 |  | 500 | 506 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (AcadeMir Charter Schools, Inc. Project), Series 2021-A-2, 4.00% 7/1/2041<sup>2</sup> |  | 710 | 597 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (AcadeMir Charter Schools, Inc. Project), Series 2021-A-2, 4.00% 7/1/2051<sup>2</sup> |  | 1710 | 1315 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (AcadeMir Charter Schools, Inc. Project), Series 2021-A-2, 4.00% 7/1/2056<sup>2</sup> |  | 1445 | 1073 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Advantage Academy of Hillborough), Series 2019, 4.00% 12/15/2024 |  | 110 | 110 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Advantage Academy of Hillborough), Series 2019, 5.00% 12/15/2029 |  | 405 | 421 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Advantage Academy of Hillborough), Series 2019, 5.00% 12/15/2039 |  | 1770 | 1804 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Advantage Academy of Hillborough), Series 2019, 5.00% 12/15/2054 |  | 1400 | 1414 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Charter Educational Foundation, Inc.), Series 2018-A, 5.375% 6/15/2038<sup>2</sup> |  | 1105 | 1101 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Charter Educational Foundation, Inc.), Series 2018-A, 5.375% 6/15/2048<sup>2</sup> |  | 2595 | 2462 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at Land O' Lakes Project), Series 2020-A, 5.00% 12/15/2039<sup>2</sup> |  | 1285 | 1263 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at Land O' Lakes Project), Series 2020-A, 5.00% 12/15/2054<sup>2</sup> |  | 2150 | 2003 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at North Manatee Project), Series 2021-C, 5.00% 6/1/2041<sup>2</sup> |  | 235 | 219 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Imagine School at North Manatee Project), Series 2021-C, 5.00% 6/1/2056<sup>2</sup> |  | 520 | 458 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2049<sup>2</sup> |  | 1755 | 1678 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Odyssey Charter School), Series 2019, 5.00% 7/1/2054<sup>2</sup> |  | 4385 | 4134 |

---

236 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida (continued)** |  |  |  |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Renaissance Charter School), Series 2017-A, 5.125% 6/15/2037<sup>2</sup> | USD | 5225 | $5201 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Renaissance Charter School), Series 2017-A, 5.25% 6/15/2047<sup>2</sup> |  | 9900 | 9595 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 4.00% 10/15/2029<sup>2</sup> |  | 445 | 433 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% 10/15/2037<sup>2</sup> |  | 1370 | 1361 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% 10/15/2039<sup>2</sup> |  | 1125 | 1107 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% 10/15/2047<sup>2</sup> |  | 3070 | 2915 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% 10/15/2049<sup>2</sup> |  | 2735 | 2585 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2017-A, 5.00% 10/15/2052<sup>2</sup> |  | 1790 | 1679 |
| Capital Trust Agcy., Educational Facs. Rev. Bonds (Viera Charter Schools, Inc. Project), Series 2019-A, 5.00% 10/15/2054<sup>2</sup> |  | 1340 | 1251 |
| Capital Trust Agcy., Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series 2021-A-1, 5.00% 7/1/2056<sup>2</sup> |  | 20695 | 19299 |
| Capital Trust Agcy., Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Capital Appreciation Bonds, Series 2021-B, 0% 7/1/2061<sup>2</sup> |  | 145480 | 8318 |
| Capital Trust Agcy., Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056<sup>2</sup> |  | 5550 | 4573 |
| Capital Trust Agcy., Rev. Bonds (WFCS Portfolio Projects), Series 2021-B, 0% 1/1/2061<sup>2</sup> |  | 6300 | 353 |
| Capital Trust Agcy., Senior Rev. Bonds (Educational Growth Fund, LLC Charter School Portfolio Projects), Series 2021-A-1, 3.375% 7/1/2031<sup>2</sup> |  | 5500 | 5050 |
| Central Florida Expressway Auth., Rev. Ref. Bonds, Series 2017, 5.00% 7/1/2039 |  | 1000 | 1069 |
| County of Collier, Ave Maria Stewardship Community Dist., Capital Improvement Rev. Bonds (Phase 3 Master Improvements Project), Series 2019, 2.25% 5/1/2026 |  | 1005 | 940 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2015-A, 5.00% 5/1/2048 |  | 5000 | 5175 |
| County of Collier, Health Facs. Auth., Residential Care Fac. Rev. Bonds (Moorings, Inc.), Series 2022, 4.00% 5/1/2052 |  | 2270 | 2079 |
| Town of Davie, Educational Facs. Rev. Bonds (Nova Southeastern University Project), Series 2013-A, 6.00% 4/1/2042 |  | 400 | 402 |
| Dev. Fin. Corp., Education Rev. Bonds (IPS Florida, LLC - Idea Florida, Inc. Jacksonville IV Project), Series 2022, 5.25% 6/15/2029<sup>2</sup> |  | 2200 | 2214 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Charter Academy Project), Series 2022, 5.125% 10/1/2052<sup>2</sup> |  | 4120 | 3983 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Cornerstone Charter Academy Project), Series 2022, 5.25% 10/1/2056<sup>2</sup> |  | 1900 | 1842 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Creative Inspiration Journey School of St. Cloud), Series 2021-A, 5.00% 6/15/2041<sup>2</sup> |  | 1245 | 1114 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Creative Inspiration Journey School of St. Cloud), Series 2021-A, 5.00% 6/15/2051<sup>2</sup> |  | 2035 | 1732 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Creative Inspiration Journey School of St. Cloud), Series 2021-A, 5.00% 6/15/2056<sup>2</sup> |  | 1800 | 1495 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2047 |  | 2000 | 1990 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2020-A, 5.00% 6/15/2050 |  | 2085 | 2058 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 4.00% 6/15/2052 |  | 625 | 511 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (Mater Academy Projects), Series 2022-A, 5.00% 6/15/2052 |  | 1000 | 982 |
| Dev. Fin. Corp., Educational Facs. Rev. Bonds (River City Science Academy Projects), Series 2021-A, 4.00% 7/1/2055 |  | 1000 | 840 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 4.00% 9/15/2030<sup>2</sup> |  | 470 | 430 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 5.00% 9/15/2040<sup>2</sup> |  | 1050 | 939 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (Renaissance Charter School, Inc.), Series 2020-C, 5.00% 9/15/2050<sup>2</sup> |  | 2055 | 1703 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2013-A, 6.00% 2/1/2033 (preref. 8/1/2023) |  | 5770 | 5871 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2035 |  | 2365 | 2487 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2036 |  | 3300 | 3428 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2037 |  | 3500 | 3599 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2038 |  | 5115 | 5232 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2039 |  | 2535 | 2579 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2040 |  | 2700 | 2732 |

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American Funds Tax-Exempt Funds 237

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida (continued)** |  |  |  |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 4.00% 2/1/2052 | USD | 8395 | $6916 |
| Dev. Fin. Corp., Healthcare Facs. Rev. Bonds (UF Health - Jacksonville Project), Series 2022-A, 5.00% 2/1/2052 |  | 1240 | 1190 |
| Dev. Fin. Corp., Rev. Green Bonds (Brightline Florida Passenger Rail Expansion Project), Series 2022-A, AMT, 7.25% 7/1/2057 (put 10/3/2023)<sup>2</sup> |  | 21500 | 21467 |
| Dev. Fin. Corp., Senior Living Rev. and Rev. Ref. Bonds (The Glenridge on Palmer Ranch Project), Series 2021, 5.00% 6/1/2051 |  | 1000 | 831 |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Center, Inc.), Series 2020-A, 5.25% 6/1/2050<sup>2</sup> |  | 2000 | 1860 |
| Dev. Fin. Corp., Senior Living Rev. Bonds (Mayflower Retirement Community Center, Inc.), Series 2020-A, 5.25% 6/1/2055<sup>2</sup> |  | 2000 | 1837 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2017, AMT, 5.25% 8/1/2029 |  | 7500 | 7108 |
| Dev. Fin. Corp., Solid Waste Disposal Rev. Bonds (Waste Pro USA, Inc. Project), Series 2021, AMT, 3.00% 6/1/2032 |  | 28670 | 22121 |
| Dev. Fin. Corp., Surface Transportation Fac. Rev. Bonds (Virgin Trains USA Passenger Rail Project), Series 2019-A, AMT, 6.50% 1/1/2049 (put 1/1/2029)<sup>1,2</sup> |  | 3000 | 2729 |
| Halifax Hospital Medical Center, Hospital Rev. Ref. Bonds, Series 2016, 5.00% 6/1/2028 |  | 1170 | 1251 |
| Halifax Hospital Medical Center, Hospital Rev. Ref. Bonds, Series 2016, 5.00% 6/1/2030 |  | 2750 | 2930 |
| Higher Educational Facs. Fncg. Auth., Educational Facs. Rev. Bonds (Florida Institute of Technology), Series 2019, 5.00% 10/1/2035 |  | 750 | 791 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, 4.00% 8/1/2045 |  | 1000 | 946 |
| County of Hillsborough, Industrial Dev. Auth., Hospital Rev. Bonds (Tampa General Hospital Project), Series 2020-A, 4.00% 8/1/2055 |  | 3600 | 3306 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Cypress Cove at Healthpark Florida, Inc. Project), Series 2022-A, 5.25% 10/1/2052 |  | 1850 | 1668 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Cypress Cove at Healthpark Florida, Inc. Project), Series 2022-A, 5.25% 10/1/2057 |  | 6365 | 5621 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2039 |  | 2140 | 2168 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2044 |  | 5250 | 5274 |
| County of Lee, Industrial Dev. Auth., Healthcare Facs. Rev. Ref. Bonds (Shell Point/Alliance Obligated Group, Shell Point Project), Series 2019, 5.00% 11/15/2049 |  | 7805 | 7782 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% 5/1/2023 |  | 150 | 150 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% 5/1/2023 |  | 185 | 184 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% 5/1/2025 |  | 175 | 170 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% 5/1/2025 |  | 190 | 185 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% 5/1/2031 |  | 400 | 352 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% 5/1/2031 |  | 185 | 163 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-1, 3.00% 5/1/2036 |  | 480 | 386 |
| County of Lee, River Hall Community Dev. Dist., Capital Improvement Rev. Ref. Bonds, Series 2021-A-2, 3.00% 5/1/2036 |  | 600 | 482 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Centre North), Series 2015, 4.875% 5/1/2035 |  | 465 | 467 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood Centre North), Series 2015, 4.875% 5/1/2045 |  | 1960 | 1872 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood National and Polo Run Project), Series 2017, 5.25% 5/1/2037 |  | 1000 | 1016 |
| Counties of Manatee and Sarasota, Lakewood Ranch Stewardship Dist., Special Assessment Rev. Bonds (Lakewood National and Polo Run Project), Series 2017, 5.375% 5/1/2047 |  | 1100 | 1104 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Infrastructure Project), Series 2014-B, 5.00% 5/1/2037 |  | 1735 | 1735 |
| City of Miami, Midtown Miami Community Dev. Dist., Special Assessment and Rev. Ref. Bonds (Parking Garage Project), Series 2014-A, 4.25% 5/1/2024 |  | 865 | 864 |
| County of Miami-Dade, Expressway Auth., Toll System Rev. Ref. Bonds, Series 2016-A, 5.00% 7/1/2030 |  | 1225 | 1305 |
| County of Miami-Dade, Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. of Florida Project), Series 2008, AMT, 0.40% 8/1/2023 |  | 3000 | 2946 |

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238 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida (continued)** |  |  |  |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.25% 5/1/2026 | USD | 590 | $572 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 3.75% 5/1/2031 |  | 1550 | 1449 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.125% 5/1/2041 |  | 3055 | 2664 |
| County of Miami-Dade, Sawyers Landing Community Dev. Dist., Special Assessment Rev. Bonds, Series 2021, 4.25% 5/1/2053 |  | 5805 | 4759 |
| City of Miami Beach, Health Facs. Auth., Hospital Rev. Bonds (Mount Sinai Medical Center of Florida), Series 2021-B, 3.00% 11/15/2051 |  | 10750 | 7893 |
| North Broward Hospital Dist., Rev. Bonds (Broward Health), Series 2017-B, 5.00% 1/1/2042 |  | 9000 | 9155 |
| North Broward Hospital Dist., Rev. Bonds (Broward Health), Series 2017-B, 5.00% 1/1/2048 |  | 9700 | 9814 |
| City of North Port, West Villages Improvement Dist. No. 2, Special Assessment Bonds, Series 2019-A-1, 5.75% 5/1/2036 |  | 2385 | 2387 |
| City of North Port, West Villages Improvement Dist. No. 2, Special Assessment Bonds, Series 2019-A-2, 5.75% 5/1/2036 |  | 2295 | 1331 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-A, 5.00% 10/1/2035 |  | 1000 | 1028 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-A, 5.00% 10/1/2040 |  | 1000 | 1021 |
| County of Okaloosa, Mid-Bay Bridge Auth., Rev. Bonds, Series 2015-C, 5.00% 10/1/2040 |  | 1935 | 1968 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2036 |  | 2500 | 2598 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2040 |  | 3000 | 3072 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2041 |  | 4880 | 5072 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2015, 5.00% 8/1/2045 |  | 4300 | 4386 |
| County of Orange, Health Facs. Auth., Health Care Facs. Rev. Bonds (Presbyterian Retirement Communities Project), Series 2016, 5.00% 8/1/2047 |  | 6280 | 6527 |
| County of Orange, Health Facs. Auth., Hospital Rev. Ref. Bonds (Orlando Health Obligated Group), Series 2016-A, 5.00% 10/1/2033 |  | 1240 | 1329 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 4.00% 8/1/2042 |  | 4525 | 4009 |
| County of Orange, Health Facs. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2023-A, 4.00% 8/1/2047 |  | 6670 | 5683 |
| County of Palm Beach, Health Facs. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2032 |  | 4935 | 5072 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 4.00% 11/15/2041 |  | 250 | 220 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-B, 5.00% 11/15/2042 |  | 650 | 652 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2019-B, 5.00% 5/15/2053 |  | 1000 | 839 |
| County of Palm Beach, Health Facs. Auth., Rev. Bonds (Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion), Series 2020, 5.00% 6/1/2055 |  | 3650 | 3345 |
| City of Palm Coast, Palm Coast Park Community Dev. Dist., Special Assessment Bonds, Series 2006, 5.70% 5/1/2037 |  | 2435 | 2437 |
| City of Palm Coast, Town Center at Palm Coast Community Dev. Dist., Capital Improvement Rev. Bonds, Series 2005, 6.00% 5/1/2036 |  | 2105 | 2106 |
| County of Pinellas, Educational Facs. Auth., Lease Rev. Bonds (Discovery Academy of Science Project), Series 2022-A, 4.00% 6/1/2046<sup>2</sup> |  | 1690 | 1346 |
| County of Pinellas, Educational Facs. Auth., Lease Rev. Bonds (Discovery Academy of Science Project), Series 2022-A, 5.00% 6/1/2056<sup>2</sup> |  | 2600 | 2340 |
| County of Pinellas, Industrial Dev. Auth., Rev. Bonds (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Project), Series 2019, 5.00% 7/1/2029 |  | 2540 | 2595 |
| County of Pinellas, Industrial Dev. Auth., Rev. Bonds (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Project), Series 2019, 5.00% 7/1/2039 |  | 3070 | 3068 |
| County of Polk, Industrial Dev. Auth., Retirement Fac. Rev. Ref. and Improvement Bonds (Carpenters Home Estates, Inc. Project), Series 2019-A, 5.00% 1/1/2039 |  | 400 | 383 |
| City of Pompano Beach, Rev. and Rev. Ref. Bonds (John Knox Village Project), Series 2020, 4.00% 9/1/2040 |  | 140 | 117 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-B-1, 2.00% 1/1/2029 |  | 1000 | 852 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2036 |  | 870 | 774 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2039 |  | 2250 | 2227 |

---

American Funds Tax-Exempt Funds 239

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida (continued)** |  |  |  |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2041 | USD | 1215 | $1007 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2015, 5.00% 9/1/2044 |  | 2505 | 2421 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2051 |  | 680 | 527 |
| City of Pompano Beach, Rev. Bonds (John Knox Village Project), Series 2021-A, 4.00% 9/1/2056 |  | 4785 | 3608 |
| City of Port St. Lucie, Utility System Rev. Ref. Bonds, Series 2016, 4.00% 9/1/2036 |  | 2000 | 2047 |
| City of St. Cloud, Gramercy Farms Community Dev. Dist., Special Assessment Bonds, Series 2007-B, 5.10% 5/1/2014<sup>6</sup> |  | 10260 | 2 |
| City of St. Cloud, Gramercy Farms Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2011, 0% 5/1/2039<sup>7</sup> |  | 19960 | 2423 |
| City of St. Cloud, Stevens Plantation Community Dev. Dist., Special Assessment Rev. Bonds, Series 2003-B, 6.375% 5/1/2013<sup>6</sup> |  | 3490 | 2513 |
| City of St. Cloud, Stevens Plantation Improvement Project Dependent Special Dist., Rev. Bonds, Series 2003, 6.375% 5/1/2013<sup>6</sup> |  | 3584 | 1039 |
| County of St. Johns, Industrial Dev. Auth., Rev. Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2020-A, 4.00% 8/1/2055 |  | 3315 | 3050 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2036 |  | 1000 | 866 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2041 |  | 750 | 607 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2046 |  | 4665 | 3582 |
| County of St. Johns, Industrial Dev. Auth., Senior Living Rev. Bonds (Vicars Landing Project), Series 2021-A, 4.00% 12/15/2050 |  | 2010 | 1499 |
| County of St. Johns, Marshall Creek Community Dev. Dist., Special Assessment Bonds, Series 2002, 5.00% 5/1/2032<sup>6</sup> |  | 2380 | 2359 |
| County of St. Johns, Marshall Creek Community Dev. Dist., Special Assessment Bonds, Series 2016, 6.32% 5/1/2045 |  | 210 | 209 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% 1/1/2037 |  | 2150 | 2036 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% 1/1/2042 |  | 4150 | 3816 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% 1/1/2047 |  | 3645 | 3253 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Bonds (Village on the Isle Project), Series 2017-A, 5.00% 1/1/2052 |  | 6695 | 5872 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Improvement Bonds (Sunnyside Village Project), Series 2018, 5.00% 5/15/2048 |  | 1075 | 1045 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% 1/1/2026 |  | 150 | 150 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% 1/1/2027 |  | 180 | 180 |
| County of Sarasota, Health Facs. Auth., Retirement Fac. Rev. Ref. Bonds (Village on the Isle Project), Series 2016, 5.00% 1/1/2030 |  | 120 | 118 |
| City of South Miami, Health Facs. Auth., Hospital Rev. Ref. Bonds (Baptist Health South Florida Obligated Group), Series 2017, 5.00% 8/15/2047 |  | 3350 | 3448 |
| Southeast Overtown/Park West Community Redev. Agcy., Tax Increment Rev. Bonds, Series 2014-A-1, 5.00% 3/1/2024<sup>2</sup> |  | 1000 | 1024 |
| Southeast Overtown/Park West Community Redev. Agcy., Tax Increment Rev. Bonds, Series 2014-A-1, 5.00% 3/1/2030<sup>2</sup> |  | 6000 | 6119 |
| City of Tallahassee, Health Facs. Rev. Ref. Bonds (Tallahassee Memorial HealthCare, Inc. Project), Series 2015-A, 5.00% 12/1/2040 |  | 1350 | 1372 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2015, 5.00% 4/1/2045 |  | 3945 | 4047 |
| City of Tampa, Rev. and Rev. Ref. Bonds (University of Tampa Project), Series 2020-A, 4.00% 4/1/2050 |  | 1865 | 1782 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% 1/1/2037 |  | 1000 | 962 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% 1/1/2047 |  | 4205 | 3833 |
| City of Venice, Retirement Community Rev. Improvement Bonds (Village on the Isle Project), Series 2019, 5.00% 1/1/2052 |  | 3010 | 2701 |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 3.00% 5/1/2041 |  | 1250 | 938 |

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240 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Florida (continued)** |  |  |  |
| City of Wildwood, Village Community Dev. Dist. No. 13, Special Assessment Rev. Bonds, Series 2021, 3.25% 5/1/2052 | USD | 3750 | $2622 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 3.75% 5/1/2031 |  | 3925 | 3652 |
| City of Winter Garden, Winter Garden Village at Fowler Groves Community Dev. Dist., Special Assessment Rev. Ref. Bonds, Series 2016, 4.125% 5/1/2037 |  | 1980 | 1849 |
|  |  |  | **464125** |
| **Georgia 1.15%** |  |  |  |
| City of Atlanta, Dev. Auth., Health Care Facs. Rev. Bonds, Capital Appreciation Bonds, Series 2017-B-2, 0% 1/1/2044 |  | 1631 | 28 |
| City of Atlanta, Dev. Auth., Senior Health Care Facs. Rev. Bonds (Georgia Proton Treatment Center Project), Series 2017-A-1, 7.00% 1/1/2040 |  | 6000 | 3180 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 2.875% 7/1/2031<sup>2</sup> |  | 1000 | 895 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.625% 7/1/2042<sup>2</sup> |  | 4245 | 3648 |
| City of Atlanta, Urban Redev. Agcy., Rev. Bonds (Atlanta Beltline Trail Completion Project), Series 2021, 3.875% 7/1/2051<sup>2</sup> |  | 4185 | 3497 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Georgia Transmission Corp. Vogtle Project), Series 2012, 2.75% 1/1/2052<sup>1</sup> |  | 4600 | 3228 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2013-A, 1.50% 1/1/2040 (put 2/3/2025) |  | 2510 | 2396 |
| County of Burke, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Vogtle Project), Series 2017-C, 4.125% 11/1/2045 |  | 5000 | 4688 |
| County of Cobb, Dev. Auth., Parking and Dining Hall Lease Rev. Ref. Bonds (Kennesaw State University Real Estate Foundations Projects), Series 2017, 5.00% 7/15/2033 |  | 1000 | 1103 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City Project), Series 2021, 4.00% 3/1/2026 |  | 1690 | 1662 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City Project), Series 2021, 4.00% 3/1/2031 |  | 1265 | 1167 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City Project), Series 2021, 4.00% 3/1/2036 |  | 970 | 846 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City Project), Series 2021, 4.00% 3/1/2041 |  | 935 | 775 |
| County of Coweta, Residential Care Facs. for the Elderly Auth., Rev. Bonds (Wesley Woods of Newnan - Peachtree City Project), Series 2021, 4.00% 3/1/2046 |  | 1060 | 835 |
| Geo. L. Smith II World Congress Center Auth., Convention Center Hotel Second Tier Rev. Bonds, Series 2021-B, 3.625% 1/1/2031<sup>2</sup> |  | 1970 | 1753 |
| Geo. L. Smith II World Congress Center Auth., Convention Center Hotel Second Tier Rev. Bonds, Series 2021-B, 5.00% 1/1/2036<sup>2</sup> |  | 2315 | 2166 |
| Geo. L. Smith II World Congress Center Auth., Convention Center Hotel Second Tier Rev. Bonds, Series 2021-B, 5.00% 1/1/2054<sup>2</sup> |  | 13890 | 11462 |
| County of Houston, Hospital Auth., Rev. Bonds (Houston Hospital, Inc.), Series 2016-B, 5.00% 10/1/2031 (preref. 4/1/2024)<sup>1</sup> |  | 3900 | 3984 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, 5.75% 6/15/2037<sup>2</sup> |  | 1200 | 1231 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, 5.875% 6/15/2047<sup>2</sup> |  | 2180 | 2210 |
| Counties of Macon and Bibb, Urban Dev. Auth., Rev. Bonds (Academy for Classical Education, Inc.), Series 2017, 6.00% 6/15/2052<sup>2</sup> |  | 3060 | 3110 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2023 |  | 1020 | 1032 |
| Main Street Natural Gas, Inc., Gas Project Rev. Bonds, Series 2007-A, 5.50% 9/15/2026 |  | 1000 | 1065 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2019-A, 5.00% 5/15/2043 |  | 860 | 875 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2018-C, 4.00% 8/1/2048 (put 12/1/2023) |  | 4000 | 4023 |
| Main Street Natural Gas, Inc., Gas Supply Rev. Bonds, Series 2023-A, 5.00% 6/1/2053 (put 6/1/2030) |  | 5375 | 5708 |
| City of Marietta, Dev. Auth., Rev. Bonds (Life University, Inc. Project), Series 2017-A, 5.00% 11/1/2037<sup>2</sup> |  | 2500 | 2489 |
| County of Monroe, Dev. Auth., Pollution Control Rev. Bonds (Oglethorpe Power Corp. Scherer Project), Series 2013-A, 1.50% 1/1/2039 (put 2/3/2025) |  | 1000 | 954 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2019-A, 5.00% 1/1/2059 |  | 5720 | 5837 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2015-A, 5.00% 7/1/2060 |  | 4050 | 4089 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project J Bonds, Series 2015-A, 5.50% 7/1/2060 |  | 8600 | 8781 |

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American Funds Tax-Exempt Funds 241

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Georgia (continued)** |  |  |  |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project M Bonds, Series 2019-A, 5.00% 1/1/2063 | USD | 7475 | $7628 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 4.00% 1/1/2046 |  | 330 | 304 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2019-B, 5.00% 1/1/2048 |  | 3000 | 3058 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2056 |  | 505 | 513 |
| Municipal Electric Auth., Plant Vogtle Units 3 and 4 Project P Bonds, Series 2021-A, 5.00% 1/1/2063 |  | 1200 | 1213 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 5.00% 1/1/2034 |  | 2300 | 2545 |
| Municipal Electric Auth., Project One Bonds, Series 2019-A, 4.00% 1/1/2049 |  | 2700 | 2573 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2029 (preref. 4/1/2024) |  | 1000 | 1029 |
| Private Colleges and Universities Auth., Rev. Bonds (The Savannah College of Art and Design Projects), Series 2014, 5.00% 4/1/2044 (preref. 4/1/2024) |  | 2000 | 2058 |
| Road and Tollway Auth., Toll Rev. Convertible Capital Appreciation Bonds (I-75 S Expressway Lanes Project), Series 2014-A, 0% 6/1/2024 (escrowed to maturity)<sup>2</sup> |  | 1105 | 1052 |
| Road and Tollway Auth., Toll Rev. Convertible Capital Appreciation Bonds (I-75 S Expressway Lanes Project), Series 2014-A, 0% 6/1/2034 (preref. 6/1/2024)<sup>2</sup> |  | 3495 | 1827 |
| Road and Tollway Auth., Toll Rev. Convertible Capital Appreciation Bonds (I-75 S Expressway Lanes Project), Series 2014-B, 0% 6/1/2049 (7.00% on 6/1/2024) (preref. 6/1/2024)<sup>1,2</sup> |  | 6755 | 6858 |
| County of Rockdale, Rev. Ref. Bonds (Pratt Paper (GA), LLC Project), Series 2018, AMT, 4.00% 1/1/2038<sup>2</sup> |  | 2500 | 2365 |
|  |  |  | **121740** |
| **Guam 0.54%** |  |  |  |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2013-C, AMT, 6.25% 10/1/2034 |  | 905 | 925 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2013-C, AMT, 6.25% 10/1/2034 (preref. 10/1/2023) |  | 595 | 608 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.25% 10/1/2035 |  | 265 | 273 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.375% 10/1/2040 |  | 525 | 534 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.375% 10/1/2043 |  | 1250 | 1269 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2013-C, AMT, 6.375% 10/1/2043 |  | 3825 | 3914 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 5.00% 11/15/2031 |  | 3250 | 3366 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 5.00% 11/15/2032 |  | 3000 | 3104 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2036 |  | 8430 | 8355 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2042 |  | 16345 | 15402 |
| Dept. of Education, Certs. of Part. (John F. Kennedy High School Ref. and Energy Efficiency Project), Series 2020-A, 4.25% 2/1/2030 |  | 1000 | 1018 |
| Dept. of Education, Certs. of Part. (John F. Kennedy High School Ref. and Energy Efficiency Project), Series 2020-A, 5.00% 2/1/2040 |  | 4340 | 4425 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2028 |  | 455 | 495 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2029 |  | 750 | 826 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2035 |  | 3000 | 3266 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2040 |  | 2330 | 2459 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2046 |  | 1500 | 1504 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2024 |  | 725 | 741 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2031 |  | 585 | 636 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2033 |  | 465 | 504 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2035 |  | 400 | 429 |
| Power Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 10/1/2034 |  | 1000 | 1121 |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2013, 5.50% 7/1/2043 (preref. 7/1/2023) |  | 2390 | 2420 |
|  |  |  | **57594** |
| **Hawaii 0.18%** |  |  |  |
| Airports System Rev. Bonds, Series 2022-A, AMT, 5.00% 7/1/2051 |  | 2445 | 2576 |
| Dept. of Budget and Fin., Special Purpose Rev. Ref. Bonds (Hawaiian Electric Co., Inc.), Series 2017-B, AMT, 4.00% 3/1/2037 |  | 16775 | 16319 |
|  |  |  | **18895** |
| **Idaho 0.17%** |  |  |  |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.375% 7/1/2034 |  | 2420 | 2454 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2014-A, 4.75% 7/1/2044 |  | 7015 | 7080 |
| Health Facs. Auth., Rev. Bonds (Kootenai Health Project), Series 2017-A, 5.00% 7/1/2047 |  | 1500 | 1549 |

---

242 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Idaho (continued)** |  |  |  |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2020-A, 4.50% 7/1/2030<sup>2</sup> | USD | 540 | $544 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2020-A, 5.00% 7/1/2040<sup>2</sup> |  | 1665 | 1669 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2018-A, 6.00% 7/1/2049<sup>2</sup> |  | 1955 | 2063 |
| Housing and Fin. Assn., Facs. Rev. Bonds (Compass Public Charter School, Inc. Project), Series 2020-A, 5.00% 7/1/2054<sup>2</sup> |  | 3000 | 2894 |
|  |  |  | **18253** |
| **Illinois 9.50%** |  |  |  |
| City of Belleville, Tax Increment and Sales Tax Rev. Ref. Bonds (Carlyle/Green Mount Redev. Project), Series 2021-B, 3.25% 7/1/2029 |  | 1150 | 1133 |
| Village of Bolingbrook, Special Service Area No. 2019-1, Special Tax Bonds, Series 2019, 5.00% 3/1/2033 |  | 1645 | 1597 |
| Village of Bolingbrook, Special Service Area No. 2019-1, Special Tax Bonds, Series 2019, 5.25% 3/1/2041 |  | 4230 | 3964 |
| City of Chicago, Board of Education, Capital Improvement Tax Bonds (Dedicated Rev.), Series 2018, 5.00% 4/1/2034 |  | 1535 | 1591 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 2500 | 2662 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2032 |  | 4575 | 4861 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2035 |  | 4000 | 4157 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2036 |  | 1480 | 1530 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2038 |  | 5675 | 5837 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2039 |  | 2500 | 2561 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2015-C, 5.25% 12/1/2039 |  | 6570 | 6604 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2040 |  | 4250 | 4334 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2021-A, 5.00% 12/1/2041 |  | 2525 | 2564 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2018-D, 5.00% 12/1/2046 |  | 8665 | 8655 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2016-B, 6.50% 12/1/2046 |  | 7910 | 8426 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2017-A, 7.00% 12/1/2046<sup>2</sup> |  | 26470 | 29046 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 12/1/2023 |  | 5500 | 5558 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2024 |  | 2000 | 2046 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-F, 5.00% 12/1/2024 |  | 1000 | 1023 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 12/1/2025 |  | 4000 | 4129 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, 5.00% 12/1/2025 |  | 2750 | 2838 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 12/1/2028 |  | 2250 | 2451 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 1000 | 1048 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 6.75% 12/1/2030<sup>2</sup> |  | 3500 | 3921 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-G, 5.00% 12/1/2034 |  | 4000 | 4128 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2012-B, 4.00% 12/1/2035 |  | 5000 | 4767 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% 12/1/2035 |  | 2240 | 2136 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2035 |  | 3105 | 3197 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 12/1/2036 |  | 8000 | 8167 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-B, 4.00% 12/1/2041 |  | 5500 | 4999 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2042 |  | 4125 | 3725 |

---

American Funds Tax-Exempt Funds 243

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-B, 7.00% 12/1/2042<sup>2</sup> | USD | 28185 | $31085 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2043 |  | 13000 | 11659 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 12/1/2046 |  | 13780 | 13832 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2047 |  | 7000 | 6158 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Capital Appreciation Bonds, Series 2019-A, 0% 12/1/2025 |  | 500 | 454 |
| City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2028 |  | 6340 | 5112 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-A, AMT, 5.00% 1/1/2031 |  | 3500 | 3556 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-A, AMT, 5.00% 1/1/2032 |  | 5000 | 5079 |
| City of Chicago, Chicago Midway Airport, Rev. Ref. Bonds, Series 2014-A, AMT, 5.00% 1/1/2041 |  | 10000 | 10067 |
| City of Chicago, G.O. Bonds, Series 2021-A, 5.00% 1/1/2033 |  | 95 | 102 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2037<sup>2</sup> |  | 258 | 245 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2038<sup>2</sup> |  | 6641 | 6246 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2038<sup>2</sup> |  | 3574 | 3361 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2044<sup>2</sup> |  | 4445 | 3938 |
| City of Chicago, G.O. Bonds, Series 2021-B, 4.00% 1/1/2049<sup>2</sup> |  | 5557 | 4811 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 4.00% 1/1/2035 |  | 3550 | 3458 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.25% 1/1/2038 |  | 1250 | 1346 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2039 |  | 1105 | 1207 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2040 |  | 1250 | 1359 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2041 |  | 1000 | 1066 |
| City of Chicago, G.O. Bonds (Chicago Works), Series 2023-A, 5.50% 1/1/2043 |  | 1250 | 1326 |
| City of Chicago, G.O. Bonds (City Colleges of Chicago Capital Improvement Project), Capital Appreciation Bonds, Series 1999, National insured, 0% 1/1/2031 |  | 11020 | 8217 |
| City of Chicago, G.O. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2027 |  | 2250 | 1958 |
| City of Chicago, G.O. Project and Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2030 |  | 8000 | 6159 |
| City of Chicago, G.O. Project and Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2031 |  | 2155 | 1588 |
| City of Chicago, G.O. Project and Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 1/1/2032 |  | 725 | 511 |
| City of Chicago, G.O. Rev. Ref. Bonds, Series 2015-C, 5.00% 1/1/2027 |  | 1500 | 1545 |
| City of Chicago, G.O. Rev. Ref. Bonds, Series 2020-A, 5.00% 1/1/2027 |  | 9600 | 10046 |
| City of Chicago, O'Hare International Airport, Customer Fac. Charge Rev. Bonds, Series 2013, 5.75% 1/1/2038 |  | 1000 | 1015 |
| City of Chicago, O'Hare International Airport, Customer Fac. Charge Rev. Bonds, Series 2013, 5.75% 1/1/2043 |  | 4250 | 4314 |
| City of Chicago, O'Hare International Airport, General Airport Rev. Ref. Bonds, Series 2015-A, AMT, 5.00% 1/1/2034 |  | 3000 | 3098 |
| City of Chicago, O'Hare International Airport, Special Facs. Rev. Bonds (Trips Obligated Group), Series 2018, AMT, 5.00% 7/1/2048 |  | 6250 | 6274 |
| City of Chicago, Sales Tax Rev. Ref. Bonds, Series 2002, 5.00% 1/1/2032 (preref. 1/1/2025) |  | 145 | 152 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2012-A, 5.00% 12/1/2042 |  | 11405 | 11404 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2016-A, 7.00% 12/1/2044 |  | 24300 | 25918 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2024 |  | 2190 | 2061 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2025 |  | 215 | 196 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2025 |  | 4630 | 4219 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2029 |  | 5095 | 3933 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2029 |  | 6815 | 5261 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 12/1/2031 |  | 8955 | 6306 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1999-A, National insured, 0% 12/1/2031 |  | 7345 | 5172 |
| City of Chicago, Transit Auth., Capital Grant Receipts Rev. Ref. Bonds (Federal Transit Administration Section 5307 Urbanized Area Formula Funds), Series 2017, 5.00% 6/1/2023 |  | 805 | 811 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 12/1/2050 |  | 1000 | 933 |

---

244 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Illinois (continued)** |  |  |  |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 12/1/2051 | USD | 15000 | $15423 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 12/1/2055 |  | 3000 | 2771 |
| City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2022-A, 5.00% 12/1/2057 |  | 7620 | 8049 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2014, 5.00% 1/1/2024 |  | 1000 | 1020 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2017-A, 5.00% 1/1/2037 |  | 3000 | 3094 |
| City of Chicago, Wastewater Transmission Rev. Bonds, Series 2012, 5.00% 1/1/2042 |  | 6000 | 6002 |
| City of Chicago, Wastewater Transmission Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1998-A, National insured, 0% 1/1/2026 |  | 560 | 512 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2023 |  | 2575 | 2617 |
| City of Chicago, Water Rev. Bonds, Series 2004, 5.00% 11/1/2027 |  | 750 | 800 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2028 |  | 1000 | 1058 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2029 |  | 1000 | 1056 |
| City of Chicago, Water Rev. Bonds, Series 2000, 5.00% 11/1/2030 |  | 700 | 739 |
| City of Chicago, Water Rev. Bonds, Series 2016-A-1, 5.00% 11/1/2031 |  | 1000 | 1052 |
| City of Chicago, Water Rev. Bonds, Series 2014, 5.00% 11/1/2033 |  | 6200 | 6354 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2029 |  | 1605 | 1655 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2035 |  | 2290 | 2445 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2017-2, Assured Guaranty Municipal insured, 5.00% 11/1/2038 |  | 4000 | 4191 |
| City of Chicago, Water Rev. Ref. Bonds, Series 2014, 5.00% 11/1/2044 |  | 500 | 505 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2003-A, FGIC-National insured, 6.00% 7/1/2033 |  | 5300 | 6725 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Bonds, Series 2004-A, Assured Guaranty Municipal insured, 5.75% 6/1/2034 |  | 2000 | 2445 |
| Counties of Cook, DuPage, Kane, Lake, McHenry and Will, Regional Transportation Auth., G.O. Rev. Ref. Bonds, Series 1999, Assured Guaranty Municipal insured, 6.00% 6/1/2025 |  | 1995 | 2101 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds, Series 2013, 5.25% 12/1/2043 |  | 3000 | 3012 |
| County of Cook, Community College Dist. No. 508 (City Colleges of Chicago), Unlimited Tax G.O. Bonds, Series 2017, BAM insured, 5.00% 12/1/2047 |  | 6100 | 6410 |
| County of Cook, G.O. Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 11/15/2031 |  | 1250 | 1353 |
| County of DuPage, Special Service Area No. 31 (Monarch Landing Project), Special Tax Bonds, Series 2006, 5.625% 3/1/2036 |  | 3870 | 3863 |
| Fin. Auth., Charter School Rev. Ref. and Improvement Rev. Bonds (Chicago International Charter School Project), Series 2017, 5.00% 12/1/2037 |  | 2030 | 2086 |
| Fin. Auth., Charter School Rev. Ref. and Improvement Rev. Bonds (Chicago International Charter School Project), Series 2017, 5.00% 12/1/2047 |  | 3180 | 3206 |
| Fin. Auth., Graduate and Professional Student Loan Program Rev. Bonds (Midwestern University Foundation), Series 2021-A, AMT, 2.25% 7/1/2033 |  | 225 | 201 |
| Fin. Auth., Rev. Bonds (DePaul University), Series 2016, 5.00% 10/1/2041 |  | 1000 | 1041 |
| Fin. Auth., Rev. Bonds (Edward-Elmhurst Healthcare), Series 2017-A, 5.00% 1/1/2035 (preref. 1/1/2027) |  | 3750 | 4123 |
| Fin. Auth., Rev. Bonds (Franciscan Communities, Inc.), Series 2013-A, 5.125% 5/15/2043 |  | 4000 | 3851 |
| Fin. Auth., Rev. Bonds (Franciscan Communities, Inc.), Series 2013-A, 5.125% 5/15/2043 (preref. 5/15/2023) |  | 430 | 433 |
| Fin. Auth., Rev. Bonds (Friendship Village Schaumburg), Series 2017, 5.125% 2/15/2045<sup>6</sup> |  | 6775 | 3049 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2034 |  | 3600 | 3764 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 4.00% 12/1/2035 |  | 1520 | 1532 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2040 |  | 13000 | 13313 |
| Fin. Auth., Rev. Bonds (Mercy Health Corp.), Series 2016, 5.00% 12/1/2046 |  | 15665 | 15856 |
| Fin. Auth., Rev. Bonds (Northshore University HealthSystem), Series 2020-A, 3.25% 8/15/2049 |  | 3755 | 3046 |
| Fin. Auth., Rev. Bonds (OSF Healthcare System), Series 2015-A, 4.125% 11/15/2037 |  | 1220 | 1233 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2025 |  | 1135 | 1180 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 5/1/2026 |  | 1030 | 1076 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2026 |  | 1000 | 1052 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2028 |  | 2240 | 2349 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2030 |  | 1500 | 1571 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2016-A, 5.00% 11/1/2031 |  | 1645 | 1724 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2035 |  | 1385 | 1365 |
| Fin. Auth., Rev. Bonds (Presbyterian Homes Obligated Group), Series 2021-A, 4.00% 5/1/2050 |  | 2290 | 2020 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 3.75% 2/15/2034 |  | 250 | 256 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2034 |  | 1265 | 1361 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 5.00% 2/15/2036 |  | 1250 | 1320 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 |  | 2150 | 2153 |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027) |  | 80 | 85 |

---

American Funds Tax-Exempt Funds 245

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| Fin. Auth., Rev. Bonds (Presence Health Network), Series 2016-C, 4.00% 2/15/2041 (preref. 2/15/2027) | USD | 5 | $5 |
| Fin. Auth., Rev. Bonds (Rehabilitation Institute of Chicago), Series 2013-A, 6.00% 7/1/2043 |  | 2300 | 2328 |
| Fin. Auth., Rev. Bonds (Rosalind Franklin University Research Building Project), Series 2017-C, 5.00% 8/1/2046 |  | 900 | 908 |
| Fin. Auth., Rev. Bonds (Rosalind Franklin University Research Building Project), Series 2017-C, 5.00% 8/1/2049 |  | 1250 | 1260 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2032 |  | 1100 | 1146 |
| Fin. Auth., Rev. Bonds (Rush University Medical Center Obligated Group), Series 2015-A, 5.00% 11/15/2038 |  | 1500 | 1529 |
| Fin. Auth., Rev. Bonds (Swedish Covenant Hospital), Series 2016-A, 5.00% 8/15/2032 (preref. 8/15/2026) |  | 2000 | 2184 |
| Fin. Auth., Rev. Bonds (Swedish Covenant Hospital), Series 2016-A, 5.00% 8/15/2033 (preref. 8/15/2026) |  | 2000 | 2184 |
| Fin. Auth., Rev. Bonds (Swedish Covenant Hospital), Series 2016-A, 5.00% 8/15/2035 (preref. 8/15/2026) |  | 2010 | 2194 |
| Fin. Auth., Rev. Bonds (Swedish Covenant Hospital), Series 2016-A, 5.00% 8/15/2037 (preref. 8/15/2026) |  | 1800 | 1965 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2016-A, 5.00% 2/15/2045 |  | 750 | 772 |
| Fin. Auth., Rev. Bonds (The Carle Foundation), Series 2021-A, 3.00% 8/15/2048 |  | 6500 | 5113 |
| Fin. Auth., Rev. Ref. Bonds (Anne & Robert H. Lurie Children's Hospital), Series 2017, 5.00% 8/15/2034 |  | 1000 | 1072 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2026 |  | 1065 | 1097 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 5.00% 10/1/2028 |  | 1000 | 1043 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2030 |  | 1900 | 1969 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 4.00% 10/1/2032 |  | 1050 | 1016 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2033 |  | 3000 | 3101 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2021, 4.00% 10/1/2038 |  | 315 | 281 |
| Fin. Auth., Rev. Ref. Bonds (Benedictine University), Series 2017, 5.00% 10/1/2038 |  | 11080 | 11205 |
| Fin. Auth., Rev. Ref. Bonds (Christian Homes, Inc.), Series 2016, 5.00% 5/15/2031 |  | 1875 | 1782 |
| Fin. Auth., Rev. Ref. Bonds (Christian Homes, Inc.), Series 2016, 5.00% 5/15/2036 |  | 1000 | 922 |
| Fin. Auth., Rev. Ref. Bonds (Dominican University), Series 2022, 5.00% 3/1/2047 |  | 1100 | 1100 |
| Fin. Auth., Rev. Ref. Bonds (Dominican University), Series 2022, 5.00% 3/1/2052 |  | 1080 | 1063 |
| Fin. Auth., Rev. Ref. Bonds (Illinois Institute of Technology), Series 2019, 5.00% 9/1/2034 |  | 1100 | 1116 |
| Fin. Auth., Rev. Ref. Bonds (Illinois Institute of Technology), Series 2019, 5.00% 9/1/2036 |  | 1000 | 997 |
| Fin. Auth., Rev. Ref. Bonds (Illinois Institute of Technology), Series 2019, 5.00% 9/1/2040 |  | 1500 | 1464 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 4.00% 7/15/2039 |  | 830 | 852 |
| Fin. Auth., Rev. Ref. Bonds (Northwestern Memorial Healthcare), Series 2021-A, 3.00% 7/15/2040 |  | 5000 | 4411 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2015-A, 5.00% 11/15/2035 |  | 2575 | 2673 |
| Fin. Auth., Rev. Ref. Bonds (OSF Healthcare System), Series 2018-A, 4.125% 5/15/2047 |  | 2000 | 1925 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 5.00% 8/15/2035 |  | 3950 | 4068 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 4.125% 8/15/2037 |  | 8710 | 8530 |
| Fin. Auth., Rev. Ref. Bonds (Silver Cross Hospital and Medical Centers), Series 2015-C, 5.00% 8/15/2044 |  | 6400 | 6429 |
| Fin. Auth., Student Housing and Academic Fac. Rev. Bonds (CHF-Chicago, LLC - University of Illinois at Chicago Project), Series 2017-A, 4.00% 2/15/2023 |  | 965 | 965 |
| Fin. Auth., Student Housing and Academic Fac. Rev. Bonds (CHF-Chicago, LLC - University of Illinois at Chicago Project), Series 2017-A, 5.00% 2/15/2047 |  | 2365 | 2370 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2023 |  | 775 | 774 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2024 |  | 815 | 809 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2025 |  | 730 | 721 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2030 |  | 3965 | 3817 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2035 |  | 3800 | 3521 |
| Fin. Auth., Student Housing Rev. Bonds (CHF-Cook, LLC - Northeastern Illinois University Project), Series 2015-A, 5.00% 7/1/2047 |  | 13500 | 11409 |
| G.O. Bonds, Series 2013, 5.00% 7/1/2023 |  | 740 | 747 |
| G.O. Bonds, Series 2017-A, 5.00% 12/1/2023 |  | 2500 | 2545 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2024 |  | 5000 | 5179 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2026 |  | 5500 | 5867 |
| G.O. Bonds, Series 2016, 5.00% 11/1/2027 |  | 3065 | 3257 |
| G.O. Bonds, Series 2017-D, BAM insured, 5.00% 11/1/2028 |  | 1000 | 1073 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2029<sup>2</sup> |  | 9558 | 9656 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2030<sup>2</sup> |  | 7710 | 7726 |
| G.O. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 1/1/2030 |  | 3000 | 3129 |
| G.O. Bonds, Series 2022-A, 5.00% 3/1/2030 |  | 3000 | 3289 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2033<sup>2</sup> |  | 1525 | 1520 |
| G.O. Bonds, Series 2021-A, 5.00% 3/1/2033 |  | 775 | 847 |
| G.O. Bonds, Series 2013, 5.50% 7/1/2033 |  | 3715 | 3745 |

---

246 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| G.O. Bonds, Series 2016, 5.00% 11/1/2033 | USD | 1000 | $1045 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2034<sup>2</sup> |  | 1609 | 1595 |
| G.O. Bonds, Series 2019-B, 4.00% 11/1/2034 |  | 1190 | 1199 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2035<sup>2</sup> |  | 1664 | 1633 |
| G.O. Bonds, Series 2021-B, 4.00% 1/1/2035<sup>2</sup> |  | 1511 | 1483 |
| G.O. Bonds, Series 2018-A, 5.00% 5/1/2035 |  | 5000 | 5267 |
| G.O. Bonds, Series 2016, 4.00% 6/1/2035 |  | 3620 | 3627 |
| G.O. Bonds, Series 2020-B, 4.00% 10/1/2035 |  | 1000 | 1002 |
| G.O. Bonds, Series 2017-A, 5.00% 12/1/2035 |  | 2145 | 2245 |
| G.O. Bonds, Series 2016, 4.00% 6/1/2036 |  | 2545 | 2531 |
| G.O. Bonds, Series 2017-A, 5.00% 12/1/2036 |  | 1500 | 1563 |
| G.O. Bonds, Series 2013, 5.50% 7/1/2038 |  | 1000 | 1006 |
| G.O. Bonds, Series 2014, 5.00% 2/1/2039 |  | 7600 | 7660 |
| G.O. Bonds, Series 2014, 5.00% 5/1/2039 |  | 3000 | 3028 |
| G.O. Bonds, Series 2020, 5.50% 5/1/2039 |  | 6000 | 6518 |
| G.O. Bonds, Series 2021-A, 4.00% 3/1/2040 |  | 4010 | 3837 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2040 |  | 1500 | 1425 |
| G.O. Bonds, Series 2021-B, 3.00% 12/1/2040 |  | 7140 | 5811 |
| G.O. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 1/1/2041 |  | 2125 | 2163 |
| G.O. Bonds, Series 2021-A, 4.00% 3/1/2041 |  | 2750 | 2601 |
| G.O. Bonds, Series 2021-B, 3.00% 12/1/2041 |  | 5000 | 4002 |
| G.O. Bonds, Series 2022-A, 5.50% 3/1/2042 |  | 5295 | 5765 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2042 |  | 3305 | 3075 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2043 |  | 6345 | 5863 |
| G.O. Bonds, Series 2019-C, 4.00% 11/1/2044 |  | 5585 | 5118 |
| G.O. Bonds, Series 2020-C, 4.25% 10/1/2045 |  | 2000 | 1888 |
| G.O. Rev. Ref. Bonds, Series 2021-C, 4.00% 3/1/2023 |  | 5110 | 5115 |
| G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2023 |  | 3290 | 3338 |
| G.O. Rev. Ref. Bonds, Series 2012, 4.00% 8/1/2025 |  | 405 | 405 |
| G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2026 |  | 1000 | 1056 |
| G.O. Rev. Ref. Bonds, Series 2018-A, 5.00% 10/1/2027 |  | 1000 | 1077 |
| G.O. Rev. Ref. Bonds, Series 2016, 5.00% 2/1/2028 |  | 1000 | 1066 |
| G.O. Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 2/1/2030 |  | 60 | 62 |
| Housing Dev. Auth., Homeowner Mortgage Rev. Bonds, Series 2016-B, AMT, 3.50% 8/1/2046 |  | 290 | 288 |
| Housing Dev. Auth., Housing Rev. Green Bonds, Series 2021-B, 3.00% 4/1/2051 |  | 2705 | 2664 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-A, 3.00% 4/1/2051 |  | 855 | 843 |
| Housing Dev. Auth., Rev. Bonds, Series 2021-D, 3.00% 10/1/2051 |  | 6955 | 6846 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 4/1/2025 |  | 1000 | 1051 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 4/1/2026 |  | 620 | 668 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2027 |  | 1140 | 1250 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 4/1/2029 |  | 1610 | 1823 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-B, Assured Guaranty Municipal insured, 5.00% 4/1/2031 |  | 780 | 882 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2035 |  | 750 | 838 |
| Board of Trustees of Illinois State University, Auxiliary Facs. System Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 4/1/2039 |  | 1165 | 1277 |
| Village of Lincolnshire, Special Service Area No. 1 (Sedgebrook Project), Special Tax Bonds, Series 2004, 6.25% 3/1/2034 |  | 1178 | 1179 |
| Village of Matteson, Tax Increment Limited Obligation Rev. Bonds, Series 2015, 6.50% 12/1/2035 |  | 1205 | 1250 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 1994, BAM insured, 0% 6/15/2028 |  | 3185 | 2670 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2030 |  | 2600 | 1996 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2030 (escrowed to maturity) |  | 130 | 107 |
| Metropolitan Pier and Exposition Auth., Dedicated State Tax Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2037 |  | 3000 | 1601 |

---

American Funds Tax-Exempt Funds 247

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2032 | USD | 6860 | $4694 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2033 |  | 10655 | 6937 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2034 |  | 14785 | 9119 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2035 |  | 1115 | 646 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 6/15/2038 |  | 5280 | 2682 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2002-A, National insured, 0% 12/15/2039 |  | 3800 | 1782 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Bonds, Capital Appreciation Bonds, Series 2012-B, 0% 12/15/2051 |  | 30490 | 6843 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2002-A, Assured Guaranty Municipal insured, 5.50% 12/15/2023 |  | 215 | 218 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2020-B, 5.00% 6/15/2042 |  | 4525 | 4672 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Bonds, Series 2015-A, 5.00% 6/15/2053 |  | 2000 | 2010 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 3.00% 6/15/2025 |  | 1085 | 1081 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2002-A, National insured, 0% 12/15/2031 |  | 2700 | 1935 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2015-B, 5.00% 12/15/2035 |  | 3000 | 3069 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2015-B, 5.00% 12/15/2040 |  | 3000 | 3046 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 12/15/2042 |  | 7555 | 7085 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 12/15/2047 |  | 2560 | 2321 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 4.00% 6/15/2050 |  | 17690 | 15817 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2020-A, 5.00% 6/15/2050 |  | 8600 | 8739 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2022-A, 4.00% 6/15/2052 |  | 11570 | 10246 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Series 2017-A, 5.00% 6/15/2057 |  | 5500 | 5533 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 1996-A, National insured, 0% 6/15/2025 |  | 2535 | 2349 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2027 |  | 3650 | 3172 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 6/15/2037 |  | 1390 | 717 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2037 |  | 2340 | 1175 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 6/15/2039 |  | 1595 | 739 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2039 |  | 1750 | 792 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 6/15/2040 |  | 1650 | 718 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2040 |  | 2850 | 1211 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2022-A, 0% 12/15/2041 |  | 1900 | 756 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2043 |  | 3800 | 1519 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2044 |  | 15445 | 5856 |

---

248 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-B-1, Assured Guaranty Municipal insured, 0% 6/15/2046 | USD | 3300 | $1125 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-B, 0% 12/15/2054 |  | 34500 | 6555 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-B, BAM insured, 0% 12/15/2054 |  | 11785 | 2592 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, Assured Guaranty Municipal insured, 0% 12/15/2056 |  | 31700 | 6297 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, 0% 12/15/2056 |  | 17160 | 2919 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2035 |  | 1075 | 1099 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2036 |  | 2175 | 2202 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2037 |  | 1650 | 1657 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2038 |  | 1850 | 1849 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2039 |  | 2520 | 2497 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2039 |  | 405 | 402 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2040 |  | 1975 | 1930 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2020-B, BAM insured, 4.00% 4/1/2041 |  | 2350 | 2274 |
| Board of Trustees of Northern Illinois University, Auxiliary Facs. System Rev. Ref. Bonds, Series 2021, BAM insured, 4.00% 10/1/2041 |  | 385 | 373 |
| Sales Tax Securitization Corp., Sales Tax Securitization Bonds, Series 2020-A, BAM insured, 4.00% 1/1/2038 |  | 2000 | 2006 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Bonds, Series 2008-A, Assured Guaranty Municipal insured, 5.50% 4/1/2023 |  | 500 | 502 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2025 |  | 230 | 212 |
| Board of Trustees of Southern Illinois University, Housing and Auxiliary Facs. System Rev. Bonds, Capital Appreciation Bonds, Series 1999-A, National insured, 0% 4/1/2029 |  | 1325 | 1046 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Hospital Sisters Services, Inc. Obligated Group), Series 2017-A, 5.00% 2/15/2028 |  | 550 | 604 |
| Southwestern Illinois Dev. Auth., Health Fac. Rev. Bonds (Memorial Group, Inc.), Series 2013, 7.625% 11/1/2048 (preref. 11/1/2023) |  | 3000 | 3107 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, 5.00% 6/15/2028 |  | 1000 | 1041 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, 5.00% 6/15/2029 |  | 2000 | 2088 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2019, BAM insured, 5.00% 6/15/2030 |  | 2250 | 2442 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.25% 6/15/2030 |  | 6000 | 6163 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.25% 6/15/2031 |  | 2550 | 2617 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Series 2014, Assured Guaranty Municipal insured, 5.25% 6/15/2032 |  | 1000 | 1026 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Capital Appreciation Bonds, Series 2001, AMBAC insured, 0% 6/15/2025 |  | 600 | 555 |
| Sports Facs. Auth., Sports Facs. Rev. Ref. Bonds (State Tax Supported), Capital Appreciation Bonds, Series 2001, AMBAC insured, 0% 6/15/2026 |  | 965 | 866 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2015-B, 5.00% 1/1/2040 |  | 3000 | 3148 |
| Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 5.00% 1/1/2044 |  | 1500 | 1622 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Bonds, Series 2014-A, 5.00% 4/1/2024 |  | 480 | 492 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 5.00% 4/1/2025 |  | 1000 | 1051 |
| Board of Trustees of the University of Illinois, Auxiliary Facs. System Rev. Ref. Bonds, Series 2016-A, 4.00% 4/1/2034 |  | 2160 | 2176 |
| Board of Trustees of the University of Illinois, Rev. Ref. Certs. of Part., Series 2014-C, 5.00% 3/15/2023 |  | 775 | 777 |
| Village of Volo, Special Service Area No. 17, Special Tax Bonds, Series 2017, 5.50% 3/1/2047 |  | 1210 | 1214 |

---

American Funds Tax-Exempt Funds 249

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Illinois (continued)** |  |  |  |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 3.125% 3/1/2027 | USD | 1128 | $1145 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 3/1/2034 |  | 4987 | 5242 |
| Village of Volo, Special Service Areas No. 3 and No. 6 (Symphony Meadows / Lancaster Falls Projects), Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 3/1/2036 |  | 1241 | 1268 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 3/1/2032 |  | 4320 | 4591 |
| United City of Yorkville, Special Service Area Nos. 2005-108 and 2005-109, Special Tax Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 3/1/2036 |  | 7509 | 7680 |
|  |  |  | **1010614** |
| **Indiana 1.34%** |  |  |  |
| Fin. Auth., Educational Facs. Rev. Bonds (Seven Oaks Classical School Project), Series 2021-A, 5.00% 6/1/2041 |  | 850 | 777 |
| Fin. Auth., Educational Facs. Rev. Bonds (Seven Oaks Classical School Project), Series 2021-A, 5.00% 6/1/2051 |  | 625 | 543 |
| Fin. Auth., Educational Facs. Rev. Bonds (Seven Oaks Classical School Project), Series 2021-A, 5.00% 6/1/2056 |  | 550 | 467 |
| Fin. Auth., Environmental Facs. Rev. Ref. Bonds (Indianapolis Power & Light Co. Project), Series 2021-A, 1.40% 8/1/2029 |  | 2000 | 1791 |
| Fin. Auth., Environmental Improvement Rev. Bonds (U.S. Steel Corp. Project), Series 2020-A, AMT, 6.75% 5/1/2039 |  | 10550 | 12043 |
| Fin. Auth., Environmental Improvement Rev. Ref. Bonds (U.S. Steel Corp. Project), Series 2021-A, 4.125% 12/1/2026 |  | 5950 | 5864 |
| Fin. Auth., Health Facs. Rev. Bonds (Good Samaritan Hospital Project), Series 2016-A, 5.50% 4/1/2041 |  | 2000 | 2062 |
| Fin. Auth., Hospital Rev. Bonds (Community Health Network Project), Series 2012-A, 5.00% 5/1/2042 (preref. 5/1/2023) |  | 270 | 272 |
| Fin. Auth., Hospital Rev. Bonds (Goshen Health), Series 2019-A, 4.00% 11/1/2043 |  | 2000 | 1904 |
| Fin. Auth., Hospital Rev. Bonds (Marion General Hospital), Series 2020-A, 4.00% 7/1/2050 |  | 15000 | 14614 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2026 |  | 2000 | 2057 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2028 |  | 2500 | 2561 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Methodist Hospitals, Inc.), Series 2014-A, 5.00% 9/15/2029 |  | 1000 | 1021 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-B, 3.00% 11/1/2030 |  | 7505 | 6756 |
| Fin. Auth., Midwestern Disaster Relief Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2012-A, 4.25% 11/1/2030 |  | 12240 | 12173 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-B, 2.50% 11/1/2030 |  | 7820 | 6786 |
| Fin. Auth., Pollution Control Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2010-A, 3.00% 11/1/2030 |  | 3000 | 2700 |
| Fin. Auth., Private Activity Bonds (Ohio River Bridges East End Crossing Project), Series 2013-A, AMT, 5.00% 7/1/2044 (preref. 7/1/2023) |  | 225 | 227 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2033 |  | 2410 | 2432 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2038 |  | 2395 | 2392 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2043 |  | 4325 | 4237 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2016-A, 5.25% 11/15/2046 |  | 7350 | 7349 |
| Fin. Auth., Rev. Bonds (BHI Senior Living Obligated Group), Series 2018-A, 5.00% 11/15/2048 |  | 4500 | 4293 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2013-A, 5.75% 11/15/2028 |  | 255 | 260 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2013-A, 6.50% 11/15/2033 |  | 215 | 220 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2021-A, 4.00% 11/15/2043 |  | 4955 | 3901 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2013-A, 7.00% 11/15/2043 |  | 3710 | 3814 |
| Fin. Auth., Rev. Bonds (Greencroft Obligated Group), Series 2021-A, 4.00% 11/15/2051 |  | 3250 | 2392 |
| Fin. Auth., Rev. Ref. Bonds (BHI Senior Living Obligated Group), Series 2021-A, 4.00% 11/15/2041 |  | 9700 | 8211 |
| Fin. Auth., Rev. Ref. Bonds (Greencroft Obligated Group), Series 2023-A, 4.00% 11/15/2037 |  | 8605 | 6943 |
| Gary/Chicago International Airport Auth., Airport Dev. Zone Rev. Bonds, Series 2014, AMT, 5.25% 2/1/2034 |  | 1000 | 1018 |
| Gary/Chicago International Airport Auth., Airport Dev. Zone Rev. Bonds, Series 2014, AMT, 5.00% 2/1/2039 |  | 2500 | 2522 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-A-2, AMT, 3.50% 7/1/2038 |  | 295 | 293 |
| Housing and Community Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 7/1/2050 |  | 870 | 857 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2030 |  | 375 | 411 |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 5.00% 6/1/2031 |  | 375 | 414 |

---

250 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Indiana (continued)** |  |  |  |
| Indiana Secondary Market for Education Loans, Inc., Student Loan Program Rev. Bonds, Series 2022-1A, AMT, 4.50% 6/1/2039 | USD | 2065 | $2116 |
| City of Valparaiso, Exempt Facs. Rev. Bonds (Pratt Paper (IN), LLC Project), Series 2013, AMT, 7.00% 1/1/2044 |  | 3080 | 3169 |
| City of Whiting, Environmental Facs. Rev. Bonds (BP Products North America, Inc. Project), Series 2021, AMT, 3.00% 11/1/2051 |  | 14915 | 10958 |
|  |  |  | **142820** |
| **Iowa 1.02%** |  |  |  |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 4.00% 12/1/2050 (put 12/1/2032) |  | 500 | 500 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 (put 12/1/2042) |  | 38715 | 39588 |
| Fin. Auth., Midwestern Disaster Area Rev. Ref. Bonds (Iowa Fertilizer Co. Project), Series 2022, 5.00% 12/1/2050 |  | 19540 | 19675 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2016-A, 5.00% 5/15/2041 |  | 3385 | 3036 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2018-A, 5.00% 5/15/2043 |  | 1500 | 1330 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2016-A, 5.00% 5/15/2047 |  | 3500 | 3019 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2018-A, 5.00% 5/15/2048 |  | 6340 | 5439 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2021-A, 4.00% 5/15/2053 |  | 3500 | 2424 |
| Fin. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2019-A-1, 5.00% 5/15/2055 |  | 2000 | 1667 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2028 |  | 420 | 421 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2033 |  | 1000 | 980 |
| Fin. Auth., Senior Housing Rev. Bonds (Northcrest, Inc. Project), Series 2018-A, 5.00% 3/1/2038 |  | 1125 | 1079 |
| Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2021-B, 3.00% 7/1/2051 |  | 1530 | 1508 |
| PEFA, Inc., Gas Project Rev. Bonds, Series 2019, 5.00% 9/1/2049 (put 9/1/2026) |  | 2230 | 2315 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 12/1/2039 |  | 720 | 689 |
| Student Loan Liquidity Corp., Student Loan Rev. Bonds, Series 2019-C, AMT, 3.50% 12/1/2044 |  | 6950 | 5903 |
| Tobacco Settlement Auth., Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2065 |  | 146970 | 18857 |
|  |  |  | **108430** |
| **Kansas 0.62%** |  |  |  |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2027 |  | 750 | 764 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2029 |  | 1205 | 1222 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2031 |  | 1330 | 1342 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2018-A, 5.00% 5/15/2039 |  | 5660 | 5610 |
| City of Lenexa, Health Care Fac. Rev. Bonds (Lakeview Village, Inc. Project), Series 2017-A, 5.00% 5/15/2043 |  | 4050 | 3939 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2022-B-1, 2.875% 6/1/2028 |  | 750 | 676 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2036 |  | 2300 | 1959 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-A, 4.00% 6/1/2046 |  | 3360 | 2577 |
| City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2022-A, 4.00% 6/1/2052 |  | 4000 | 2941 |
| City of Overland Park, Special Obligation Sales Tax Rev. Bonds (Bluhawk Star Bond Project), Series 2022-A, 6.00% 11/15/2034<sup>2</sup> |  | 2420 | 2524 |
| City of Prairie Village, Special Obligation Tax Increment Rev. Ref. Bonds (Meadowbrook TIF Project), Series 2021, 2.875% 4/1/2030 |  | 750 | 672 |
| City of Wichita, Sales Tax Special Obligation Rev. Bonds (K-96 Greenwich Star Bond Project), Series 2017, 4.20% 9/1/2027 |  | 175 | 173 |
| Unified Government of Wyandotte County, Special Obligation Improvement Rev. Ref. Bonds (Wyandotte Plaza Redev. Project), Series 2016, 4.00% 12/1/2028 |  | 290 | 272 |
| Unified Government of Wyandotte County, Special Obligation Improvement Rev. Ref. Bonds (Wyandotte Plaza Redev. Project), Series 2016, 5.00% 12/1/2034 |  | 2125 | 2026 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Village East Project Area Nos. 2B, 3 and 5), Series 2022, 5.25% 9/1/2035<sup>2</sup> |  | 26140 | 25486 |
| Unified Government of Wyandotte County, Special Obligation Rev. Bonds (Village East Project Area Nos. 2B, 3 and 5), Series 2022, 5.75% 9/1/2039<sup>2</sup> |  | 14500 | 14137 |
|  |  |  | **66320** |

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American Funds Tax-Exempt Funds 251

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Kentucky 1.02%** |  |  |  |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2016-A, 5.00% 2/1/2028 | USD | 1260 | $1324 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2016-A, 5.00% 2/1/2030 |  | 1815 | 1902 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2016-A, 4.00% 2/1/2032 |  | 500 | 507 |
| City of Ashland, Medical Center Rev. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2016-A, 4.00% 2/1/2036 |  | 2775 | 2741 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, 5.00% 2/1/2032 |  | 910 | 992 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, 4.00% 2/1/2034 |  | 980 | 994 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, 4.00% 2/1/2036 |  | 380 | 375 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, 4.00% 2/1/2037 |  | 750 | 732 |
| City of Ashland, Medical Center Rev. Ref. Bonds (Ashland Hospital Corp. - King's Daughters Medical Center Project), Series 2019, Assured Guaranty Municipal insured, 3.00% 2/1/2040 |  | 6185 | 5195 |
| County of Carroll, Environmental Facs. Rev. Bonds, Series 2008-A, 2.00% 2/1/2032 |  | 4000 | 3406 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), Capital Appreciation Bonds, Series 2000-B, National insured, 0% 10/1/2026 |  | 4500 | 4009 |
| Econ. Dev. Fin. Auth., Health System Rev. Bonds (Norton Healthcare, Inc.), Capital Appreciation Bonds, Series 2000-B, National insured, 0% 10/1/2027 |  | 3485 | 3003 |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.50% 11/15/2035 |  | 600 | 556 |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.75% 11/15/2045 |  | 6515 | 5845 |
| Econ. Dev. Fin. Auth., Healthcare Facs. Rev. and Rev. Ref. Bonds (Rosedale Green Project), Series 2015, 5.75% 11/15/2050 |  | 2650 | 2331 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2034 |  | 2720 | 2914 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2041 |  | 4250 | 4432 |
| Econ. Dev. Fin. Auth., Hospital Rev. Bonds (Baptist Healthcare System Obligated Group), Series 2017-B, 5.00% 8/15/2046 |  | 2500 | 2565 |
| Econ. Dev. Fin. Auth., Louisville Arena Project Rev. Ref. Bonds (Louisville Arena Auth., Inc.), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 12/1/2045 |  | 6000 | 6187 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-A, AMT, 4.45% 1/1/2042<sup>2</sup> |  | 4000 | 3866 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-A, AMT, 4.70% 1/1/2052<sup>2</sup> |  | 22160 | 21279 |
| City of Henderson, Exempt Facs. Rev. Bonds (Pratt Paper, LLC Project), Series 2022-B, AMT, 4.70% 1/1/2052<sup>2</sup> |  | 4250 | 4081 |
| Kentucky State University, Certs. of Part. (Kentucky State University Project), Series 2021, BAM insured, 4.00% 11/1/2041 |  | 750 | 760 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2016-A, 5.00% 10/1/2029 |  | 2550 | 2726 |
| Louisville/Jefferson Metro County Government, Health System Rev. Bonds (Norton Healthcare, Inc.), Series 2020-A, 3.00% 10/1/2043 |  | 500 | 412 |
| Louisville/Jefferson Metro County Government, Hospital Rev. Bonds (UofL Health Project), Series 2022-A, 5.00% 5/15/2052 |  | 7065 | 7330 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2028 |  | 500 | 543 |
| City of Paducah, Electric Plant Board, Rev. Ref. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 10/1/2035 |  | 1500 | 1612 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 4/1/2048 (put 4/1/2024) |  | 6600 | 6615 |
| Public Energy Auth., Gas Supply Rev. Bonds, Series 2022-A-1, 4.00% 8/1/2052 (put 8/1/2030) |  | 3415 | 3410 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 7/1/2049<sup>2</sup> |  | 840 | 808 |
| Public Transportation Infrastructure Auth., Toll Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 7/1/2053<sup>2</sup> |  | 5295 | 4987 |
|  |  |  | **108439** |

---

252 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Louisiana 1.33%** |  |  |  |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2015-B, AMT, 5.00% 1/1/2035 | USD | 1785 | $1834 |
| Aviation Board, General Airport Rev. Bonds (North Terminal Project), Series 2015-B, AMT, 5.00% 1/1/2040 |  | 5000 | 5076 |
| Parish of Calcasieu, Memorial Hospital Service Dist., Hospital Rev. Ref. Bonds (Lake Charles Memorial Hospital Project), Series 2019, 5.00% 12/1/2029 |  | 1000 | 1022 |
| Parish of Calcasieu, Memorial Hospital Service Dist., Hospital Rev. Ref. Bonds (Lake Charles Memorial Hospital Project), Series 2019, 5.00% 12/1/2034 |  | 1250 | 1273 |
| Parish of Calcasieu, Memorial Hospital Service Dist., Hospital Rev. Ref. Bonds (Lake Charles Memorial Hospital Project), Series 2019, 5.00% 12/1/2039 |  | 3650 | 3557 |
| Parish of Livingston, Juban Crossing Econ. Dev. Dist., Rev. Ref. Bonds (Drainage Projects), Series 2015-B, 7.00% 9/15/2044<sup>2</sup> |  | 3855 | 3622 |
| Parish of Livingston, Juban Crossing Econ. Dev. Dist., Rev. Ref. Bonds (Drainage Projects), Series 2015-C, 7.00% 9/15/2044<sup>2</sup> |  | 12640 | 11878 |
| Parish of Livingston, Juban Crossing Econ. Dev. Dist., Rev. Ref. Bonds (Road Projects), Series 2015-A, 7.00% 9/15/2044<sup>2</sup> |  | 3950 | 3712 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Entergy Louisiana, LLC Projects), Series 2021-B, 2.50% 4/1/2036 |  | 26745 | 22501 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Ragin' Cajun Facs., Inc. Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 10/1/2039 |  | 1000 | 1050 |
| Local Government Environmental Facs. and Community Dev. Auth., Rev. Ref. Bonds (Westlake Chemical Corp. Projects), Series 2017, 3.50% 11/1/2032 |  | 6000 | 5736 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase II Project), Series 2017, 5.00% 7/1/2042 |  | 2000 | 2076 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase II Project), Series 2017, 5.00% 7/1/2052 |  | 800 | 821 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Greenhouse Dist. Phase III Project), Series 2019-A, 5.00% 7/1/2059 |  | 10750 | 11101 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson Gateway Project), Series 2016-A, 5.00% 7/1/2051 |  | 9460 | 9661 |
| Public Facs. Auth., Lease Rev. Bonds (Provident Group - Flagship Properties, LLC - Louisiana State University Nicholson Gateway Project), Series 2016-A, 5.00% 7/1/2056 |  | 1000 | 1019 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/1/2041<sup>2</sup> |  | 1335 | 1137 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-C, 4.00% 6/1/2041<sup>2</sup> |  | 885 | 754 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-C, 4.00% 6/1/2051<sup>2</sup> |  | 1745 | 1378 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/4/2051<sup>2</sup> |  | 2635 | 2080 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-A, 4.00% 6/1/2056<sup>2</sup> |  | 2205 | 1694 |
| Public Facs. Auth., Rev. Bonds (BBR Schools - Mid City Campus Project), Series 2021-C, 4.00% 6/1/2056<sup>2</sup> |  | 1165 | 895 |
| Public Facs. Auth., Rev. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2032 (preref. 5/15/2026) |  | 10 | 11 |
| Public Facs. Auth., Rev. Bonds (Provident Group - HSC Properties, Inc. - LSU Health Foundations, New Orleans Project), Series 2006, 5.10% 1/1/2057<sup>2</sup> |  | 12500 | 11573 |
| Public Facs. Auth., Rev. Ref. Bonds (Nineteenth Judicial Dist. Court Building Project), Series 2015, Assured Guaranty Municipal insured, 5.25% 6/1/2051 (preref. 6/1/2025) |  | 1000 | 1066 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2033 |  | 1620 | 1704 |
| Public Facs. Auth., Rev. Ref. Bonds (Ochsner Clinic Foundation Project), Series 2016, 5.00% 5/15/2033 (preref. 5/15/2026) |  | 15 | 16 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2008, 6.10% 6/1/2038 (put 6/1/2030)<sup>2</sup> |  | 4160 | 4517 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2010, 6.35% 7/1/2040<sup>2</sup> |  | 8140 | 8859 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2010-A, 6.35% 10/1/2040<sup>2</sup> |  | 2000 | 2177 |
| Parish of St. James, Rev. Bonds (Nustar Logistics, LP Project), Series 2011, 5.85% 8/1/2041 (put 6/1/2025)<sup>2</sup> |  | 4500 | 4641 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-A-1, 2.00% 6/1/2037 (put 4/1/2023) |  | 1600 | 1597 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-1, 2.125% 6/1/2037 (put 7/1/2024) |  | 4700 | 4606 |
| Parish of St. John the Baptist, Rev. Ref. Bonds (Marathon Oil Corp. Project), Series 2017-B-2, 2.375% 6/1/2037 (put 7/1/2026) |  | 4800 | 4546 |
| Parish of St. Tammany, Public Trust Fncg. Auth., Rev. and Rev. Ref. Bonds (Christwood Project), Series 2014, 5.00% 11/15/2024 |  | 265 | 266 |
| Parish of St. Tammany, Public Trust Fncg. Auth., Rev. and Rev. Ref. Bonds (Christwood Project), Series 2014, 5.25% 11/15/2037 |  | 2330 | 2285 |
|  |  |  | **141741** |

---

American Funds Tax-Exempt Funds 253

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Maine 0.05%** |  |  |  |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2005-R-3, AMT, 5.25% 1/1/2025<sup>2</sup> | USD | 2000 | $2017 |
| Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2015-R-2, AMT, 4.375% 8/1/2035 (put 8/1/2025)<sup>2</sup> |  | 250 | 248 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2024 |  | 85 | 88 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2025 |  | 90 | 95 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2026 |  | 110 | 118 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 120 | 131 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2028 |  | 150 | 166 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2029 |  | 150 | 168 |
| Fin. Auth., Student Loan Rev. Bonds, Series 2021-A-1, Assured Guaranty Municipal insured, 5.00% 12/1/2030 |  | 245 | 278 |
| City of Portland, General Airport Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2034 |  | 1000 | 1050 |
| City of Portland, General Airport Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2035 |  | 1000 | 1047 |
|  |  |  | **5406** |
| **Maryland 0.92%** |  |  |  |
| County of Anne Arundel, G.O. Rev. Ref. Water and Sewer Bonds, Series 2021, 5.00% 4/1/2023 |  | 785 | 788 |
| County of Baltimore, Consolidated Public Improvement Bonds, Series 2021, 5.00% 3/1/2023 |  | 1600 | 1603 |
| County of Baltimore, Consolidated Public Improvement Bonds, Series 2021, 5.00% 3/1/2023 |  | 1000 | 1002 |
| County of Baltimore, Rev. Bonds (Riderwood Village, Inc. Fac.), Series 2020, 4.00% 1/1/2050 |  | 4000 | 3786 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Bonds, Series 2022, 4.50% 6/1/2033 |  | 400 | 398 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Bonds, Series 2022, 4.875% 6/1/2042 |  | 875 | 858 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Bonds, Series 2022, 5.00% 6/1/2051 |  | 1600 | 1567 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds, Series 2017-A, 4.00% 9/1/2027 |  | 475 | 472 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds, Series 2017-A, 4.50% 9/1/2033 |  | 3900 | 3888 |
| Mayor and City Council of Baltimore, Special Obligation Rev. Ref. Bonds, Series 2017-A, 5.00% 9/1/2038 |  | 1725 | 1749 |
| Mayor and Council of Brunswick, Special Obligation Rev. Ref. Bonds (Brunswick Crossing Special Taxing Dist.), Series 2019, 3.00% 7/1/2024 |  | 470 | 465 |
| Mayor and Council of Brunswick, Special Obligation Rev. Ref. Bonds (Brunswick Crossing Special Taxing Dist.), Series 2019, 4.00% 7/1/2029 |  | 950 | 937 |
| Mayor and Council of Brunswick, Special Obligation Rev. Ref. Bonds (Brunswick Crossing Special Taxing Dist.), Series 2019, 5.00% 7/1/2036 |  | 2850 | 2910 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 9/1/2044 |  | 85 | 85 |
| Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2021-A, 3.00% 9/1/2051 |  | 2080 | 2052 |
| Econ. Dev. Corp., Econ. Dev. Rev. Bonds (Terminal Project), Series 2019-A, AMT, 5.00% 6/1/2044 |  | 500 | 521 |
| Econ. Dev. Corp., Econ. Dev. Rev. Bonds (Terminal Project), Series 2019-A, AMT, 5.00% 6/1/2049 |  | 1250 | 1295 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2029 |  | 1850 | 2006 |
| Econ. Dev. Corp., Econ. Dev. Rev. Ref. Bonds (Transportation Facs. Project), Series 2017-A, 5.00% 6/1/2032 |  | 1000 | 1080 |
| Econ. Dev. Corp., Special Obligation Bonds (Metro Centre at Owings Mills Project), Series 2017, 4.375% 7/1/2036 |  | 3560 | 3429 |
| Econ. Dev. Corp., Special Obligation Bonds (Metro Centre at Owings Mills Project), Series 2017, 4.50% 7/1/2044 |  | 6850 | 6429 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Bowie State University Project), Series 2020, 4.00% 7/1/2040 |  | 500 | 481 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Bowie State University Project), Series 2020, 4.00% 7/1/2050 |  | 1500 | 1345 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Bowie State University Project), Series 2020, 5.00% 7/1/2055 |  | 2000 | 2050 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Morgan State University Project), Series 2020, 4.25% 7/1/2050 |  | 3050 | 2898 |
| Econ. Dev. Corp., Student Housing Rev. Bonds (Morgan State University Project), Series 2022-A, 5.75% 7/1/2053 |  | 2580 | 2842 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Frostburg State University Project), Series 2013, 5.00% 10/1/2023 |  | 350 | 353 |
| Econ. Dev. Corp., Student Housing Rev. Ref. Bonds (Frostburg State University Project), Series 2013, 5.00% 10/1/2033 |  | 1000 | 1003 |
| County of Frederick, Tax Increment and Special Tax Obligation Rev. Ref. Bonds (Jefferson Technology Park Project), Series 2020-B, 4.625% 7/1/2043<sup>2</sup> |  | 2300 | 2248 |
| City of Gaithersburg, Econ. Dev. Project Rev. Bonds (Asbury Maryland Obligated Group), Series 2022, 4.50% 1/1/2042 |  | 18500 | 16341 |
| City of Gaithersburg, Econ. Dev. Project Rev. Bonds (Asbury Maryland Obligated Group), Series 2022, 5.125% 1/1/2042 |  | 2500 | 2518 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Broadmead Issue), Series 2018-A, 5.00% 7/1/2048 |  | 3500 | 3573 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Frederick Health System), Series 2020, 4.00% 7/1/2045 |  | 900 | 861 |
| Health and Higher Educational Facs. Auth., Rev. Bonds (Frederick Health System), Series 2020, 4.00% 7/1/2050 |  | 1000 | 943 |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.00% 2/15/2028<sup>2</sup> |  | 550 | 539 |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.125% 2/15/2034<sup>2</sup> |  | 750 | 712 |

---

254 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Maryland (continued)** |  |  |  |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.375% 2/15/2039<sup>2</sup> | USD | 2000 | $1888 |
| County of Howard, Special Obligation Bonds (Downtown Columbia), Series 2017-A, 4.50% 2/15/2047<sup>2</sup> |  | 10000 | 9148 |
| County of Prince George, Special Obligation Bonds (Hampton Park Project), Series 2019-A, 4.00% 7/1/2031<sup>2</sup> |  | 750 | 721 |
| County of Prince George, Special Obligation Bonds (Hampton Park Project), Series 2019-A, 4.25% 7/1/2039<sup>2</sup> |  | 2150 | 1981 |
| County of Prince George, Special Obligation Bonds (Hampton Park Project), Series 2019-A, 4.375% 7/1/2048<sup>2</sup> |  | 5430 | 4830 |
| County of Prince George, Special Obligation Bonds (Suitland-Naylor Road Project), Series 2016, 5.00% 7/1/2046<sup>2</sup> |  | 2500 | 2523 |
| County of Prince George, Special Tax Dist. Bonds (Victoria Falls Project), Series 2005, 5.25% 7/1/2035 |  | 744 | 747 |
|  |  |  | **97865** |
| **Massachusetts 0.46%** |  |  |  |
| Dev. Fin. Agcy., Rev. Bonds (Boston Medical Center Issue), Series 2015-D, 5.00% 7/1/2044 |  | 1500 | 1524 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2028<sup>2</sup> |  | 3335 | 3557 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2033<sup>2</sup> |  | 4000 | 4246 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.00% 11/15/2038<sup>2</sup> |  | 4250 | 4419 |
| Dev. Fin. Agcy., Rev. Bonds (Linden Ponds, Inc. Issue), Series 2018, 5.125% 11/15/2046<sup>2</sup> |  | 7825 | 8088 |
| Dev. Fin. Agcy., Rev. Bonds (Mass General Brigham, Inc.), Series 2019-T-1, 2.26% 7/1/2049 (put 1/29/2026)<sup>2,3</sup> |  | 845 | 834 |
| Dev. Fin. Agcy., Rev. Bonds (Milford Regional Medical Center Issue), Series 2020-G, 5.00% 7/15/2046<sup>2</sup> |  | 1350 | 1314 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2029 |  | 1800 | 1909 |
| Dev. Fin. Agcy., Rev. Bonds (UMass Memorial Health Care Obligated Group Issue), Series 2016-I, 5.00% 7/1/2036 |  | 2500 | 2611 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Newbridge Charles Issue), Series 2017, 5.00% 10/1/2047<sup>2</sup> |  | 2500 | 2475 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.125% 1/1/2040 |  | 920 | 866 |
| Dev. Fin. Agcy., Rev. Ref. Bonds (Salem Community Corp. Issue), Series 2022, 5.25% 1/1/2050 |  | 2675 | 2455 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2016-J, AMT, 3.50% 7/1/2033 |  | 4330 | 4176 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2019-B, AMT, 3.00% 7/1/2035 |  | 230 | 230 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2020-B, AMT, 2.625% 7/1/2036 |  | 105 | 100 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2021-B, AMT, 2.00% 7/1/2037 |  | 1415 | 1216 |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2022-B, AMT, 3.625% 7/1/2038 |  | 3025 | 2883 |
| Housing Fin. Agcy., Housing Green Bonds, Series 2021-B-1, 2.80% 12/1/2046 |  | 1000 | 757 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 177, AMT, 4.00% 6/1/2039 |  | 660 | 660 |
| Housing Fin. Agcy., Single Family Housing Rev. Ref. Bonds, Series 188, AMT, 4.00% 6/1/2043 |  | 720 | 720 |
| Special Obligation Dedicated Tax Rev. Ref. Bonds, Series 2005, FGIC National insured, 5.50% 1/1/2034 |  | 3500 | 4299 |
|  |  |  | **49339** |
| **Michigan 1.39%** |  |  |  |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2024 |  | 500 | 506 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2025 |  | 1350 | 1386 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2029 |  | 250 | 264 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2030 |  | 500 | 527 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2032 |  | 1000 | 1052 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2033 |  | 500 | 524 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2034 |  | 1250 | 1305 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2036 |  | 1565 | 1608 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2037 |  | 500 | 511 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2018, 5.00% 4/1/2038 |  | 1300 | 1324 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2039 |  | 395 | 402 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2040 |  | 365 | 328 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2041 |  | 320 | 283 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 4.00% 4/1/2042 |  | 450 | 396 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2046 |  | 1000 | 995 |
| City of Detroit, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2050 |  | 3220 | 3164 |
| Fin. Auth., Distributable State Aid Rev. and Rev. Ref. Bonds (Charter County of Wayne), Series 2020, 4.00% 11/1/2045 |  | 1000 | 1002 |
| Fin. Auth., Hospital Rev. and Rev. Ref. Bonds (Trinity Health Credit Group), Series 2017-A, 4.00% 12/1/2040 |  | 4000 | 3996 |
| Fin. Auth., Hospital Rev. Ref. Bonds (Henry Ford Health System), Series 2016, 5.00% 11/15/2037 |  | 2500 | 2616 |
| Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2019-A, 4.00% 2/15/2047 |  | 4890 | 4717 |
| Fin. Auth., Hospital Rev. Ref. Bonds (McLaren Health Care), Series 2019-A, 4.00% 2/15/2050 |  | 1250 | 1191 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. and Rev. Ref. Local Project Bonds), Series 2014-C-6, 5.00% 7/1/2033 |  | 2000 | 2056 |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2032 |  | 500 | 524 |

---

American Funds Tax-Exempt Funds 255

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Michigan (continued)** |  |  |  |
| Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Water and Sewerage Dept., Sewage Disposal System Rev. Ref. Local Project Bonds), Series 2015-C, 5.00% 7/1/2035 | USD | 1500 | $1563 |
| Fin. Auth., Student Loan Rev. Ref. Bonds, Series 25-A, AMT, 4.00% 11/1/2030 |  | 2550 | 2550 |
| Fin. Auth., Student Loan Rev. Ref. Bonds, Series 25-A, AMT, 4.00% 11/1/2031 |  | 1000 | 1000 |
| City of Flint, Hospital Building Auth., Rev. and Rev. Ref. Bonds (Hurley Medical Center), Series 2020, 4.00% 7/1/2038 |  | 250 | 233 |
| City of Flint, Hospital Building Auth., Rev. Ref. Bonds (Hurley Medical Center), Series 2013-B, 4.75% 7/1/2023 |  | 260 | 261 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.00% 7/1/2023 |  | 545 | 549 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2028 |  | 4605 | 4643 |
| City of Flint, Hospital Building Auth., Rev. Rental Bonds (Hurley Medical Center), Series 2013-A, 5.25% 7/1/2039 |  | 775 | 777 |
| City of Grand Rapids Econ. Dev. Corp., Limited Obligation Rev. and Rev. Ref. Bonds (Beacon Hill at Eastgate Project), Series 2021, 5.00% 11/1/2055 |  | 10240 | 8331 |
| City of Grand Rapids Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2037 |  | 5980 | 5890 |
| City of Grand Rapids Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2044 |  | 9335 | 8911 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 4.00% 11/1/2027 |  | 2770 | 2606 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2032 |  | 1055 | 994 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2037 |  | 1200 | 1090 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2047 |  | 5990 | 5066 |
| City of Grand Rapids Econ. Dev. Corp., Rev. Ref. Bonds (Beacon Hill Estate Project), Series 2017-A, 5.00% 11/1/2052 |  | 5240 | 4311 |
| Great Lakes Water Auth., Water Supply System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2046 |  | 5000 | 5202 |
| Housing Dev. Auth., Rental Housing Rev. Bonds, Series 2021-A, 2.70% 10/1/2056 |  | 6480 | 4325 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.35% 12/1/2034 |  | 1190 | 1169 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 6/1/2047 |  | 435 | 435 |
| Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 6/1/2052 |  | 3560 | 3505 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2035 |  | 850 | 976 |
| County of Kent, Gerald R. Ford International Airport Auth., Limited Tax G.O. Rev. Bonds, Series 2021, AMT, 5.00% 1/1/2036 |  | 600 | 679 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2032 |  | 1390 | 1419 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2016, 5.00% 11/15/2037 |  | 8625 | 8683 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2022, 4.00% 11/15/2043 |  | 4500 | 3753 |
| City of Kentwood Econ. Dev. Corp., Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2021, 4.00% 11/15/2045 |  | 1875 | 1535 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2034 |  | 1900 | 1930 |
| Strategic Fund, Limited Obligation Rev. and Rev. Ref. Bonds (United Methodist Retirement Communities, Inc. Project), Series 2019, 5.00% 11/15/2034 |  | 1285 | 1278 |
| Strategic Fund, Limited Obligation Rev. Green Bonds (Graphic Packaging International, LLC Coated Recycled Board Machine Project), Series 2021, AMT, 4.00% 10/1/2061 (put 10/1/2026) |  | 12250 | 12134 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2029 |  | 1000 | 1031 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (Holland Home Obligated Group), Series 2019, 5.00% 11/15/2043 |  | 1750 | 1743 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2037 |  | 2000 | 1970 |
| Strategic Fund, Limited Obligation Rev. Ref. Bonds (United Methodist Retirement Communities Obligated Group - Porter Hills Presbyterian Village Project), Series 2020, 5.00% 5/15/2044 |  | 2420 | 2310 |
| Tobacco Settlement Fin. Auth., Tobacco Settlement Asset-backed Bonds, Capital Appreciation Bonds, Series 2008-C, 0% 6/1/2058 |  | 63400 | 2653 |
| County of Wayne, Airport Auth., Airport Rev. Ref. Bonds (Detroit Metropolitan Wayne County Airport), Series 2012-D, AMT, 5.00% 12/1/2028 |  | 12000 | 12019 |
|  |  |  | **148201** |

---

256 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Minnesota 0.11%** |  |  |  |
| City of Apple Valley, Senior Housing Rev. Bonds (PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase II Project), Series 2021, 4.00% 9/1/2051 | USD | 500 | $408 |
| City of Apple Valley, Senior Housing Rev. Bonds (PHS Apple Valley Senior Housing, Inc. - Orchard Path Phase II Project), Series 2021, 4.00% 9/1/2061 |  | 870 | 678 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2018, AMT, 4.00% 11/1/2037 |  | 615 | 617 |
| Higher Education Supplemental Loan Auth., Rev. Bonds, Series 2020, AMT, 2.65% 11/1/2038 |  | 6545 | 5626 |
| Housing Fin. Agcy., Homeownership Fin. Bonds (Mortgage-Backed Securities Pass-Through Program), Series 2017-I, 2.80% 12/1/2047 |  | 846 | 810 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2013-A, AMT, 3.00% 7/1/2031 |  | 35 | 35 |
| Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 1/1/2045 |  | 310 | 310 |
| City of St. Paul, Housing and Redev. Auth., Charter School Lease Rev. Bonds (Great River School Project), Series 2017-A, 4.75% 7/1/2029<sup>2</sup> |  | 365 | 366 |
| City of St. Paul, Housing and Redev. Auth., Charter School Lease Rev. Bonds (Great River School Project), Series 2017-A, 5.25% 7/1/2033<sup>2</sup> |  | 140 | 143 |
| City of St. Paul, Housing and Redev. Auth., Charter School Lease Rev. Bonds (Great River School Project), Series 2017-A, 5.50% 7/1/2052<sup>2</sup> |  | 1600 | 1611 |
| City of Woodbury, Charter School Lease Rev. Bonds (Woodbury Leadership Academy Project), Series 2021-A, 4.00% 7/1/2051 |  | 1320 | 1011 |
|  |  |  | **11615** |
| **Mississippi 0.26%** |  |  |  |
| Business Fin. Corp., Exempt Facs. Rev. Green Bonds (Enviva, Inc. Project), Series 2022, AMT, 7.75% 7/15/2047 (put 7/15/2032) |  | 4930 | 4993 |
| Business Fin. Corp., Rev. Ref. Bonds (System Energy Resources, Inc. Project), Series 2021, 2.375% 6/1/2044 |  | 3200 | 2249 |
| Business Fin. Corp., Solid Waste Disposal, Rev. Bonds (Waste Pro USA, Inc. Project), Series 2017, AMT, 5.00% 2/1/2036 (put 8/2/2027)<sup>2</sup> |  | 11000 | 10522 |
| Dev. Bank, Special Obligation Bonds (Magnolia Regional Health Center Project), Series 2021, 4.00% 10/1/2036<sup>2</sup> |  | 2100 | 1946 |
| Dev. Bank, Special Obligation Bonds (Magnolia Regional Health Center Project), Series 2021, 4.00% 10/1/2041<sup>2</sup> |  | 1000 | 870 |
| Home Corp., Single Family Mortgage Rev. Bonds, Series 2021-B, 3.00% 6/1/2051 |  | 855 | 842 |
| Hospital Equipment and Facs. Auth., Rev. Bonds (Baptist Memorial Health Care), Series 2016-A, 5.00% 9/1/2046 |  | 4000 | 4033 |
| County of Warren, Gulf Opportunity Zone Rev. Ref. Bonds (International Paper Co. Project), Series 2018, 2.90% 9/1/2032 (put 9/1/2023) |  | 1900 | 1897 |
|  |  |  | **27352** |
| **Missouri 0.86%** |  |  |  |
| County of Cape Girardeau, Industrial Dev. Auth., Health Facs. Rev. Bonds (Southeast Missouri Hospital Assn.), Series 2016-A, 6.00% 3/1/2033 |  | 3775 | 3898 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2015, 5.00% 8/1/2040 |  | 1650 | 1650 |
| Health and Educational Facs. Auth., Health Facs. Rev. Bonds (Bethesda Health Group, Inc.), Series 2015, 5.00% 8/1/2045 |  | 2050 | 1988 |
| Health and Educational Facs. Auth., Health Facs. Rev. Ref. Bonds (St. Anthony's Medical Center), Series 2015-B, 5.00% 2/1/2045 |  | 1320 | 1350 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Christian Horizons Obligated Group), Series 2018, 5.00% 5/15/2036 |  | 1500 | 1396 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services Projects), Series 2019-C, 4.00% 2/1/2033 |  | 860 | 798 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% 2/1/2034 |  | 1780 | 1634 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-A, 5.00% 2/1/2034 |  | 2600 | 2619 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% 2/1/2042 |  | 775 | 650 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2021, 4.00% 2/1/2042 |  | 5305 | 4452 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-A, 5.00% 2/1/2042 |  | 4225 | 4119 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Bonds (Lutheran Senior Services), Series 2019-C, 4.00% 2/1/2048 |  | 5000 | 4028 |
| Health and Educational Facs. Auth., Senior Living Facs. Rev. Ref. Bonds (Lutheran Senior Services), Series 2016-A, 5.00% 2/1/2046 |  | 825 | 793 |

---

<br> American Funds Tax-Exempt Funds 257

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Missouri (continued)** |  |  |  |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (First Place Homeownership Loan Program), Series 2021-C, 3.25% 11/1/2052 | USD | 1315 | $1306 |
| Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-B-1, AMT, 4.00% 11/1/2045 |  | 855 | 856 |
| City of Joplin, Industrial Dev. Auth., Sales Tax Rev. Bonds (32nd Street Place Community Improvement Dist. Project), Series 2021, 3.50% 11/1/2040 |  | 650 | 567 |
| City of Lee's Summit, Special Obligation Tax Increment and Special Dist. Rev. Ref. and Improvement Bonds (Summit Fair Project), Series 2017, 4.00% 11/1/2027<sup>2</sup> |  | 1625 | 1554 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, 4.375% 3/15/2030 |  | 800 | 741 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, 5.00% 3/15/2039 |  | 4360 | 3957 |
| City of Maryland Heights, Industrial Dev. Auth., Rev. Bonds (St. Louis Community Ice Center Project), Series 2018-A, 5.00% 3/15/2049 |  | 7250 | 6224 |
| City of Maryland Heights, Tax Increment and Special Dist. Rev. Bonds (Westport Plaza Redev. Area), Series 2020, 3.625% 11/1/2031 |  | 1365 | 1224 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, Assured Guaranty Municipal insured, 5.00% 10/1/2045 |  | 2000 | 2143 |
| Municipal Fin. Corp., Leasehold Rev. Bonds (Convention Center Expansion and Improvement Projects), Series 2020, Assured Guaranty Municipal insured, 5.00% 10/1/2049 |  | 1000 | 1065 |
| City of Rolla, Move Rolla Transportation Dev. Dist., Sales Tax Rev. Bonds, Series 2017, 3.75% 6/1/2029 |  | 415 | 416 |
| City of Rolla, Move Rolla Transportation Dev. Dist., Sales Tax Rev. Bonds, Series 2017, 4.50% 6/1/2036 |  | 750 | 743 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. Bonds, Series 2021, 3.00% 5/1/2023 |  | 300 | 299 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. Bonds, Series 2021, 3.00% 5/1/2024 |  | 400 | 393 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. Bonds, Series 2021, 3.00% 5/1/2026 |  | 215 | 206 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. Bonds, Series 2021, 3.00% 5/1/2030 |  | 950 | 867 |
| City of Saint Charles, Plaza at Noah's Ark Community Improvement Dist., Tax Increment and Improvement Dist. Rev. Bonds, Series 2021, 3.125% 5/1/2035 |  | 500 | 425 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2026 |  | 2500 | 2687 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2029 |  | 1000 | 1183 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2030 |  | 3255 | 3929 |
| City of St. Louis, Airport Rev. Ref. Bonds (Lambert-St. Louis International Airport), Series 2005, National insured, 5.50% 7/1/2031 |  | 2050 | 2521 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.00% 8/15/2030 |  | 1000 | 979 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.00% 8/15/2035 |  | 1400 | 1326 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2012, 6.125% 8/15/2042 |  | 1000 | 1000 |
| County of St. Louis, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (Nazareth Living Center), Series 2015-A, 5.125% 8/15/2045 |  | 2000 | 1786 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), Series 2018-A, 5.125% 9/1/2048 |  | 980 | 907 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), Series 2018, 5.125% 9/1/2049 |  | 1335 | 1232 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (Friendship Village St. Louis Obligated Group), Series 2018, 5.25% 9/1/2053 |  | 6890 | 6387 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated Group), Series 2015-A, 5.00% 12/1/2025 |  | 785 | 791 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated Group), Series 2015-A, 5.00% 12/1/2035 |  | 1410 | 1392 |
| County of St. Louis, Industrial Dev. Auth., Senior Living Facs. Rev. Bonds (St. Andrew's Resources for Seniors Obligated Group), Series 2015-A, 5.125% 12/1/2045 |  | 8320 | 7979 |

---

<br> 258 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Missouri (continued)** |  |  |  |
| County of Stoddard, Industrial Dev. Auth., Health Facs. Rev. Bonds (Southeast Missouri Hospital Assn.), Series 2016-B, 6.00% 3/1/2037 | USD | 3740 | $3861 |
| City of Town and Country, Town and Country Crossing Transportation Dev. Dist., Transportation Sales Tax Rev. Ref. Bonds, Series 2020-A, 3.375% 4/1/2037 |  | 455 | 407 |
| City of Washington, Industrial Dev. Auth., Sales Tax. Rev. Ref. Bonds (Phoenix Center II Community Improvement Dist. Project), Series 2021, 2.50% 11/1/2029 |  | 390 | 360 |
|  |  |  | **91088** |
| **Nebraska 0.22%** |  |  |  |
| Central Plains Energy Project, Gas Project Rev. Bonds (Project No. 5), Series 2022-1, 5.00% 5/1/2053 (put 10/1/2029) |  | 2175 | 2299 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 1/13/2025<sup>6,7,8,9</sup> |  | 184 | 184 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 3/16/2025<sup>6,7,8,9</sup> |  | 25 | 25 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 4/13/2025<sup>6,7,8,9</sup> |  | 172 | 172 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 6/8/2025<sup>6,7,8,9</sup> |  | 151 | 151 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/14/2025<sup>6,7,8,9</sup> |  | 190 | 190 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 12/9/2025<sup>7,8,9</sup> |  | 120 | 121 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 1/25/2026<sup>7,8,9</sup> |  | 154 | 154 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 2/8/2026<sup>7,8,9</sup> |  | 89 | 89 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 2/8/2026<sup>7,8,9</sup> |  | 45 | 45 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 3/22/2026<sup>7,8,9</sup> |  | 110 | 110 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 5/4/2026<sup>7,8,9</sup> |  | 675 | 675 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 8/4/2026<sup>7,8,9</sup> |  | 642 | 642 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 9/13/2026<sup>7,8,9</sup> |  | 3 | 3 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 2/23/2027<sup>7,8,9</sup> |  | 373 | 372 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 4/13/2027<sup>7,8,9</sup> |  | 2 | 2 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 8/11/2027<sup>7,8,9</sup> |  | 240 | 240 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 9/19/2027<sup>7,8,9</sup> |  | 201 | 201 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 12/7/2027<sup>7,8,9</sup> |  | 135 | 135 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 1/4/2028<sup>7,8,9</sup> |  | 602 | 602 |
| Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2019-B, AMT, 4.00% 9/1/2049 |  | 1545 | 1548 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 10/22/2025<sup>6,7,8,9</sup> |  | 1837 | 1837 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 11/19/2025<sup>6,7,8,9</sup> |  | 370 | 370 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 12/17/2025<sup>6,7,8,9</sup> |  | 876 | 876 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 1/21/2026<sup>6,7,8,9</sup> |  | 402 | 402 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 3/18/2026<sup>6,7,8,9</sup> |  | 420 | 420 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 4/15/2026<sup>6,7,8,9</sup> |  | 232 | 232 |

---

<br> American Funds Tax-Exempt Funds 259

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Nebraska (continued)** |  |  |  |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 5/20/2026<sup>6,7,8,9</sup> | USD | 6 | $6 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 6/22/2026<sup>6,7,8,9</sup> |  | 270 | 270 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 7/20/2026<sup>6,7,8,9</sup> |  | 120 | 120 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/12/2026<sup>6,7,8,9</sup> |  | 4 | 4 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 9/7/2026<sup>6,7,8,9</sup> |  | 909 | 910 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 10/26/2026<sup>6,7,8,9</sup> |  | 64 | 64 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 11/23/2026<sup>6,7,8,9</sup> |  | 30 | 30 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 12/14/2026<sup>6,7,8,9</sup> |  | 199 | 199 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 1/18/2027<sup>6,7,8,9</sup> |  | 363 | 363 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 3/15/2027<sup>6,7,8,9</sup> |  | 3 | 3 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 4/12/2027<sup>6,7,8,9</sup> |  | 611 | 611 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 6/16/2027<sup>6,7,8,9</sup> |  | 462 | 462 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 7/21/2027<sup>6,7,8,9</sup> |  | 10 | 10 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/18/2027<sup>6,7,8,9</sup> |  | 5 | 5 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 9/15/2027<sup>7,8,9</sup> |  | 259 | 259 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 10/20/2027<sup>7,8,9</sup> |  | 321 | 321 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 12/6/2026<sup>7,8,9</sup> |  | 53 | 53 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 12/29/2026<sup>7,8,9</sup> |  | 609 | 609 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 1/26/2027<sup>6,7,8,9</sup> |  | 106 | 106 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 6/6/2027<sup>6,7,8,9</sup> |  | 347 | 347 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 6/27/2027<sup>7,8,9</sup> |  | 594 | 594 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 7/18/2027<sup>7,8,9</sup> |  | 2133 | 2133 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 8/18/2027<sup>7,8,9</sup> |  | 727 | 727 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 9/6/2027<sup>7,8,9</sup> |  | 13 | 13 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 10/24/2027<sup>7,8,9</sup> |  | 2296 | 2296 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 11/21/2027<sup>7,8,9</sup> |  | 785 | 785 |
|  |  |  | **23397** |
| **Nevada 0.43%** |  |  |  |
| Dept. of Business and Industry, Charter School Rev. Bonds (Doral Academy of Nevada), Series 2017-A, 5.00% 7/15/2037<sup>2</sup> |  | 1000 | 1004 |
| Dept. of Business and Industry, Charter School Rev. Bonds (Doral Academy of Nevada), Series 2017-A, 5.00% 7/15/2047<sup>2</sup> |  | 1600 | 1545 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2015-A, 4.00% 12/15/2025 |  | 800 | 798 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 4.50% 12/15/2029<sup>2</sup> |  | 690 | 695 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 5.00% 12/15/2038<sup>2</sup> |  | 1000 | 1005 |

---

<br> 260 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Nevada (continued)** |  |  |  |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2015-A, 5.125% 12/15/2045<sup>2</sup> | USD | 1000 | $994 |
| Dept. of Business and Industry, Lease Rev. Bonds (Somerset Academy), Series 2018-A, 5.00% 12/15/2048<sup>2</sup> |  | 1500 | 1447 |
| County of Clark, Special Improvement Dist. No. 121 (Southern Highlands Area), Local Improvement Rev. Ref. Bonds, Series 2016, 2.75% 12/1/2023 |  | 345 | 343 |
| County of Clark, Special Improvement Dist. No. 121 (Southern Highlands Area), Local Improvement Rev. Ref. Bonds, Series 2016, 3.00% 12/1/2024 |  | 365 | 360 |
| County of Clark, Special Improvement Dist. No. 121 (Southern Highlands Area), Local Improvement Rev. Ref. Bonds, Series 2016, 3.00% 12/1/2025 |  | 370 | 361 |
| City of Henderson, Local Improvement Dist. No. T-16 (Falls at Lake Las Vegas), Limited Obligation Improvement Bonds, Series 2005, 5.125% 3/1/2025 |  | 2065 | 1899 |
| City of Las Vegas, Redev. Agcy., Tax Increment Rev. Ref. Bonds, Series 2016, 5.00% 6/15/2045 |  | 1225 | 1257 |
| City of Las Vegas, Sales Tax Increment Rev. Bonds, Series 2016, 3.50% 6/15/2025<sup>2</sup> |  | 620 | 600 |
| City of Las Vegas, Special Improvement Dist. No. 607 (Providence), Local Improvement Rev. Ref. Bonds, Series 2013, 5.00% 6/1/2023 |  | 195 | 196 |
| City of Las Vegas, Special Improvement Dist. No. 607 (Providence), Local Improvement Rev. Ref. Bonds, Series 2013, 4.25% 6/1/2024 |  | 200 | 201 |
| City of Las Vegas, Special Improvement Dist. No. 607 (Providence), Local Improvement Rev. Ref. Bonds, Series 2013, 5.00% 6/1/2024 |  | 75 | 76 |
| City of Las Vegas, Special Improvement Dist. No. 612 (Skye Hills), Local Improvement Bonds, Series 2020, 3.50% 6/1/2035 |  | 215 | 182 |
| City of Las Vegas, Special Improvement Dist. No. 612 (Skye Hills), Local Improvement Bonds, Series 2020, 4.00% 6/1/2050 |  | 995 | 802 |
| City of Las Vegas, Special Improvement Dist. No. 808 and No. 810 (Summerlin Village 23B), Local Improvement Rev. Ref. Bonds, Series 2014, 5.00% 6/1/2026 |  | 720 | 730 |
| City of Las Vegas, Special Improvement Dist. No. 808 and No. 810 (Summerlin Village 23B), Local Improvement Rev. Ref. Bonds, Series 2014, 5.00% 6/1/2028 |  | 290 | 294 |
| City of Las Vegas, Special Improvement Dist. No. 808 and No. 810 (Summerlin Village 23B), Local Improvement Rev. Ref. Bonds, Series 2014, 5.00% 6/1/2029 |  | 510 | 516 |
| City of Las Vegas, Special Improvement Dist. No. 808 and No. 810 (Summerlin Village 23B), Local Improvement Rev. Ref. Bonds, Series 2014, 5.00% 6/1/2031 |  | 110 | 111 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, Series 2015, 4.50% 12/1/2025 |  | 605 | 614 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2026 |  | 630 | 646 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2029 |  | 1495 | 1521 |
| City of Las Vegas, Special Improvement Dist. No. 812 (Summerlin Village 24), Local Improvement Rev. Ref. Bonds, Series 2015, 5.00% 12/1/2035 |  | 1470 | 1487 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.00% 6/1/2023 |  | 190 | 190 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.00% 6/1/2024 |  | 155 | 153 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.00% 6/1/2025 |  | 220 | 216 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.25% 6/1/2026 |  | 215 | 210 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.50% 6/1/2027 |  | 240 | 236 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 3.50% 6/1/2028 |  | 220 | 215 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 4.00% 6/1/2033 |  | 1105 | 1082 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 4.25% 6/1/2037 |  | 945 | 929 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 4.375% 6/1/2042 |  | 1200 | 1168 |
| City of Las Vegas, Special Improvement Dist. No. 813 (Summerlin Village 26), Local Improvement Bonds, Series 2017, 4.50% 6/1/2047 |  | 1445 | 1395 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.25% 6/1/2023 |  | 420 | 419 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2025 |  | 195 | 192 |

---

<br> American Funds Tax-Exempt Funds 261

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Nevada (continued)** |  |  |  |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2026 | USD | 195 | $191 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2027 |  | 195 | 189 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2028 |  | 150 | 143 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2029 |  | 340 | 321 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.25% 6/1/2031 |  | 305 | 276 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2032 |  | 410 | 376 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2033 |  | 455 | 415 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 3.50% 6/1/2035 |  | 1000 | 888 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 4.00% 6/1/2039 |  | 495 | 455 |
| City of Las Vegas, Special Improvement Dist. No. 814 (Summerlin Village 21 and 24A), Local Improvement Bonds, Series 2019, 4.00% 6/1/2049 |  | 1590 | 1376 |
| City of Las Vegas, Special Improvement Dist. No. 815 (Summerlin Village 25), Local Improvement Bonds, Series 2020, 4.75% 12/1/2040 |  | 1000 | 980 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, 2.75% 6/1/2033 |  | 520 | 424 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, 2.75% 6/1/2036 |  | 835 | 646 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, 3.00% 6/1/2041 |  | 1000 | 738 |
| City of Las Vegas, Special Improvement Dist. No. 816 (Summerlin Village 22), Local Improvement Bonds, Series 2021, 3.125% 6/1/2051 |  | 1425 | 943 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.50% 6/1/2023 |  | 60 | 60 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.50% 6/1/2024 |  | 120 | 119 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.75% 6/1/2025 |  | 145 | 144 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.75% 6/1/2026 |  | 190 | 187 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.75% 6/1/2027 |  | 260 | 254 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 3.875% 6/1/2028 |  | 395 | 384 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.00% 6/1/2029 |  | 205 | 201 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.00% 6/1/2030 |  | 335 | 326 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.25% 6/1/2034 |  | 605 | 588 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.50% 6/1/2039 |  | 770 | 744 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.625% 6/1/2043 |  | 650 | 622 |
| City of North Las Vegas, Special Improvement Dist. No. 64 (Valley Vista), Local Improvement Bonds, Series 2019, 4.625% 6/1/2049 |  | 1435 | 1345 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement Bonds, Series 2022, 5.50% 6/1/2037<sup>2</sup> |  | 750 | 763 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement Bonds, Series 2022, 5.75% 6/1/2042<sup>2</sup> |  | 1100 | 1116 |

---

<br> 262 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Nevada (continued)** |  |  |  |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement Bonds, Series 2022, 5.75% 6/1/2047<sup>2</sup> | USD | 1600 | $1607 |
| City of North Las Vegas, Special Improvement Dist. No. 66 (Villages at Tule Springs Village 1), Local Improvement Bonds, Series 2022, 6.00% 6/1/2052<sup>2</sup> |  | 1800 | 1832 |
| City of Reno, Sales Tax Rev. Ref. Bonds (ReTRAC - Reno Transportation Rail Access Corridor Project), Series 2018-B, Assured Guaranty Municipal insured, 4.125% 6/1/2058 |  | 1250 | 1212 |
|  |  |  | **45954** |
| **New Hampshire 1.19%** |  |  |  |
| Business Fin. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2013, AMT, 2.95% 4/1/2029 (put 10/1/2019)<sup>2</sup> |  | 1900 | 1695 |
| Business Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2003, AMT, 3.125% 8/1/2024<sup>1</sup> |  | 2750 | 2715 |
| Health and Education Facs. Auth., Rev. Bonds (Elliot Hospital Issue), Series 2016, 5.00% 10/1/2031 |  | 1250 | 1325 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, Assured Guaranty Municipal insured, 3.00% 8/15/2046 |  | 1605 | 1287 |
| National Fin. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2021-B, Assured Guaranty Municipal insured, 3.00% 8/15/2051 |  | 15085 | 11489 |
| National Fin. Auth., Municipal Certs., Series 2020-1, Class A, 4.125% 1/20/2034 |  | 29466 | 29789 |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class X, 0.334% 9/20/2036 |  | 75450 | 1850 |
| National Fin. Auth., Municipal Certs., Series 2022-1, Class A, 4.375% 9/20/2036 |  | 21136 | 21204 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class X, 0.719% 10/20/2036<sup>3,4</sup> |  | 63500 | 3323 |
| National Fin. Auth., Municipal Certs., Series 2022-2, Class A, 4.00% 10/20/2036 |  | 22380 | 21703 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.00% 11/1/2027<sup>2</sup> |  | 2000 | 1923 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-B, 4.625% 11/1/2042<sup>2</sup> |  | 1000 | 899 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2018-C, AMT, 4.875% 11/1/2042<sup>2</sup> |  | 5000 | 4643 |
| National Fin. Auth., Resource Recovery Rev. Ref. Bonds (Covanta Project), Series 2020-B, AMT, 3.75% 7/1/2045 (put 7/2/2040)<sup>2</sup> |  | 8470 | 6847 |
| National Fin. Auth., Resource Recovery Rev. Ref. Green Bonds (Covanta Project), Series 2020-A, 3.625% 7/1/2043 (put 7/2/2040)<sup>2</sup> |  | 9335 | 7416 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living, Inc.), Series 2021, 4.00% 1/1/2041 |  | 2000 | 1733 |
| National Fin. Auth., Senior Living Rev. Ref. Bonds (Springpoint Senior Living, Inc.), Series 2021, 4.00% 1/1/2051 |  | 2100 | 1704 |
| National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2018-A, AMT, (SIFMA Municipal Swap Index + 0.75%) 2.035% 10/1/2033 (put 7/1/2024)<sup>3</sup> |  | 3270 | 3179 |
| National Fin. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2019-A-4, AMT, 2.15% 8/1/2038 (put 7/1/2024) |  | 2000 | 1949 |
|  |  |  | **126673** |
| **New Jersey 3.14%** |  |  |  |
| Atlantic City, Tax Appeal Rev. Ref. Bonds, Series 2017-B, Assured Guaranty Municipal insured, 5.00% 3/1/2032 |  | 1200 | 1312 |
| County of Camden, Improvement Auth., Charter School Rev. Bonds (Camden Prep High School Project), Series 2022, 5.00% 7/15/2052<sup>2</sup> |  | 2000 | 2025 |
| County of Camden, Improvement Auth., Charter School Rev. Bonds (Camden Prep High School Project), Series 2022, 5.00% 7/15/2062<sup>2</sup> |  | 4555 | 4583 |
| County of Camden, Improvement Auth., Health Care Redev. Project, Rev. Bonds (Cooper Health System Obligated Group Issue), Series 2013-A, 5.75% 2/15/2042 |  | 1330 | 1332 |
| County of Camden, Improvement Auth., Health Care Redev. Project, Rev. Ref. Bonds (Cooper Health System Obligated Group Issue), Series 2014, 5.00% 2/15/2032 |  | 555 | 561 |
| Casino Reinvestment Dev. Auth., Luxury Tax Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 11/1/2026 |  | 1500 | 1563 |
| Casino Reinvestment Dev. Auth., Luxury Tax Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.00% 11/1/2029 |  | 1180 | 1226 |
| Casino Reinvestment Dev. Auth., Luxury Tax Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.25% 11/1/2039 |  | 2500 | 2559 |
| Casino Reinvestment Dev. Auth., Luxury Tax Rev. Bonds, Series 2014, Assured Guaranty Municipal insured, 5.25% 11/1/2044 |  | 1000 | 1021 |
| Econ. Dev. Auth., Energy Fac. Rev. Bonds (UMM Energy Partners, LLC Project), Series 2012-A, AMT, 5.00% 6/15/2037 |  | 7085 | 7089 |
| Econ. Dev. Auth., Energy Fac. Rev. Bonds (UMM Energy Partners, LLC Project), Series 2012-A, AMT, 5.125% 6/15/2043 |  | 750 | 750 |
| Econ. Dev. Auth., Motor Vehicle Surcharges Rev. Ref. Bonds, Series 2017-A, BAM insured, 5.00% 7/1/2027 |  | 3250 | 3546 |

---

<br> American Funds Tax-Exempt Funds 263

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Jersey (continued)** |  |  |  |
| Econ. Dev. Auth., Private Activity Bonds (Goethals Bridge Replacement Project), Series 2013, AMT, 5.375% 1/1/2043 | USD | 7725 | $7816 |
| Econ. Dev. Auth., Private Activity Bonds (Goethals Bridge Replacement Project), Series 2013, AMT, 5.625% 1/1/2052 |  | 3940 | 3992 |
| Econ. Dev. Auth., Rev. Bonds (Foundation Academy Charter School Project), Series 2018-A, 5.00% 7/1/2050 |  | 1100 | 1105 |
| Econ. Dev. Auth., Rev. Bonds (Provident Group - Kean Properties, LLC - Kean University Student Housing Project), Series 2017-A, 5.00% 7/1/2047 |  | 3500 | 3320 |
| Econ. Dev. Auth., Rev. Bonds (Provident Group - Kean Properties, LLC - Kean University Student Housing Project), Series 2017-A, 5.00% 1/1/2050 |  | 1590 | 1494 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Montclair Properties, LLC - Montclair State University Student Housing Project), Series 2017, Assured Guaranty Municipal insured, 5.00% 6/1/2037 |  | 2750 | 2883 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing Project), Series 2015-A, 5.00% 1/1/2035 |  | 3750 | 3688 |
| Econ. Dev. Auth., Rev. Ref. Bonds (Provident Group - Rowan Properties, LLC - Rowan University Student Housing Project), Series 2015-A, 5.00% 1/1/2048 |  | 2150 | 2011 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2015-WW, 5.25% 6/15/2029 (preref. 6/15/2025) |  | 2500 | 2676 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2034 |  | 1500 | 1611 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2021-QQQ, 4.00% 6/15/2035 |  | 800 | 826 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2017-DDD, 5.00% 6/15/2035 |  | 1275 | 1362 |
| Econ. Dev. Auth., School Facs. Construction Bonds, Series 2018-EEE, 5.00% 6/15/2043 |  | 2935 | 3066 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2015-XX, 5.00% 6/15/2025 |  | 4250 | 4473 |
| Econ. Dev. Auth., School Facs. Construction Rev. Ref. Bonds, Series 2013-I, (SIFMA Municipal Swap Index + 1.60%) 3.26% 3/1/2028<sup>3</sup> |  | 13970 | 13971 |
| Econ. Dev. Auth., School Facs. Rev. Bonds (Beloved Community Charter School), Series 2019-A, 4.00% 6/15/2029<sup>2</sup> |  | 570 | 557 |
| Econ. Dev. Auth., School Facs. Rev. Bonds (Beloved Community Charter School), Series 2019-A, 5.00% 6/15/2039<sup>2</sup> |  | 825 | 819 |
| Econ. Dev. Auth., School Facs. Rev. Bonds (Beloved Community Charter School), Series 2019-A, 5.00% 6/15/2049<sup>2</sup> |  | 930 | 889 |
| Econ. Dev. Auth., School Facs. Rev. Bonds (Beloved Community Charter School), Series 2019-A, 5.00% 6/15/2054<sup>2</sup> |  | 725 | 686 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 1999, AMT, 5.125% 9/15/2023 |  | 1790 | 1799 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 1999, AMT, 5.25% 9/15/2029 |  | 16165 | 16336 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 2000-B, AMT, 5.625% 11/15/2030 |  | 3545 | 3630 |
| Econ. Dev. Auth., Special Fac. Rev. Bonds (Continental Airlines, Inc. Project), Series 2003, AMT, 5.50% 6/1/2033 |  | 3500 | 3545 |
| Econ. Dev. Auth., Special Fac. Rev. Ref. Bonds (Continental Airlines, Inc. Project), Series 2012, AMT, 5.75% 9/15/2027 |  | 825 | 826 |
| Econ. Dev. Auth., Transit Transportation Project Bonds, Series 2020-A, 4.00% 11/1/2037 |  | 1850 | 1868 |
| Econ. Dev. Auth., Transit Transportation Project Bonds, Series 2020-A, 4.00% 11/1/2038 |  | 2500 | 2515 |
| Econ. Dev. Auth., Transit Transportation Project Bonds, Series 2020-A, 4.00% 11/1/2039 |  | 4550 | 4561 |
| Econ. Dev. Auth., Water Facs. Rev. Ref. Bonds (American Water Co., Inc. Project), Series 2019-A, AMT, 2.20% 10/1/2039 (put 12/3/2029) |  | 2500 | 2214 |
| Educational Facs. Auth., Rev. Bonds (Higher Education Capital Improvement Fund Issue), Series 2014-A, 4.00% 9/1/2031 |  | 7000 | 7100 |
| Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (Trinitas Regional Medical Center Obligated Group Issue), Series 2017-A, 5.00% 7/1/2024 (escrowed to maturity) |  | 1000 | 1034 |
| Health Care Facs. Fncg. Auth., Rev. and Rev. Ref. Bonds (Trinitas Regional Medical Center Obligated Group Issue), Series 2017-A, 5.00% 7/1/2027 (preref. 7/1/2026) |  | 500 | 543 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (Princeton HealthCare System Issue), Series 2016-A, 5.00% 7/1/2034 |  | 1000 | 1074 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (St. Joseph's Healthcare System Obligated Group Issue), Series 2016, 5.00% 7/1/2031 |  | 1700 | 1775 |
| Health Care Facs. Fncg. Auth., Rev. Bonds (St. Joseph's Healthcare System Obligated Group Issue), Series 2016, 5.00% 7/1/2035 |  | 500 | 514 |
| Higher Education Student Assistance Auth., Student Loan Rev. and Rev. Ref. Bonds, Series 2022, AMT, 4.00% 12/1/2041 |  | 5575 | 5645 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2013-1-A, AMT, 3.75% 12/1/2026 |  | 180 | 180 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2016-1-A, AMT, 3.50% 12/1/2032 |  | 425 | 417 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2019-B, AMT, 3.25% 12/1/2039 |  | 7950 | 7598 |
| Higher Education Student Assistance Auth., Student Loan Rev. Bonds, Series 2020-B, AMT, 3.50% 12/1/2039 |  | 3700 | 3628 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2020-A, AMT, 3.50% 12/1/2039 |  | 6925 | 6791 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-B, AMT, 2.50% 12/1/2040 |  | 7245 | 6200 |
| Higher Education Student Assistance Auth., Student Loan Rev. Ref. Bonds, Series 2021-C, AMT, 3.25% 12/1/2051 |  | 3000 | 2258 |

---

<br> 264 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Jersey (continued)** |  |  |  |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2019-C, 4.75% 10/1/2050 | USD | 945 | $974 |
| Housing and Mortgage Fin. Agcy., Single Family Housing Rev. Bonds, Series 2020-H, 3.00% 10/1/2052 |  | 4510 | 4428 |
| South Jersey Port Corp., Marine Terminal Rev. Bonds, Series 2017-B, AMT, 5.00% 1/1/2036 |  | 1000 | 1046 |
| South Jersey Port Corp., Marine Terminal Rev. Bonds, Series 2017-B, AMT, 5.00% 1/1/2042 |  | 1250 | 1281 |
| South Jersey Port Corp., Marine Terminal Rev. Bonds, Series 2017-B, AMT, 5.00% 1/1/2048 |  | 1875 | 1907 |
| South Jersey Transportation Auth., Transportation System Rev. Bonds, Series 2022-A, 4.625% 11/1/2047 |  | 1550 | 1579 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2014-A, 5.00% 11/1/2033 |  | 1600 | 1634 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2020-A, 5.00% 11/1/2045 |  | 1895 | 1989 |
| South Jersey Transportation Auth., Transportation System Rev. Ref. Bonds, Series 2020-A, 4.00% 11/1/2050 |  | 3000 | 2760 |
| Tobacco Settlement Fncg. Corp., Tobacco Settlement Bonds, Series 2018-A, 5.25% 6/1/2046 |  | 1210 | 1265 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2037 |  | 600 | 609 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2038 |  | 6755 | 6802 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2039 |  | 1500 | 1504 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 4.00% 6/15/2039 |  | 1750 | 1755 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 4.00% 6/15/2040 |  | 1500 | 1497 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 4.00% 6/15/2044 |  | 465 | 452 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 5.00% 6/15/2044 |  | 4575 | 4775 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-AA, 5.00% 6/15/2046 |  | 2000 | 2085 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2020-AA, 3.00% 6/15/2050 |  | 10210 | 7774 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2022-BB, 3.00% 6/15/2050 |  | 28500 | 21584 |
| Transportation Trust Fund Auth., Transportation Program Bonds, Series 2019-BB, 5.00% 6/15/2050 |  | 2500 | 2601 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2018-A, 5.00% 12/15/2033 |  | 2500 | 2761 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2039 |  | 3500 | 3511 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2040 |  | 4535 | 4525 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2041 |  | 2000 | 1980 |
| Transportation Trust Fund Auth., Transportation System Bonds, Series 2022-A, 4.00% 6/15/2042 |  | 4000 | 3924 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, AMBAC insured, 0% 12/15/2026 |  | 1225 | 1092 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-A, BAM insured, 0% 12/15/2027 |  | 8245 | 7169 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-B, 0% 12/15/2027 |  | 1045 | 899 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2010-A, BAM insured, 0% 12/15/2028 |  | 9800 | 8139 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, National insured, 0% 12/15/2030 |  | 1305 | 1007 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, National insured, 0% 12/15/2031 |  | 17880 | 13232 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, 0% 12/15/2032 |  | 1250 | 880 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-C, BAM insured, 0% 12/15/2032 |  | 1825 | 1301 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, Assured Guaranty Municipal insured, 0% 12/15/2033 |  | 15000 | 10214 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, Assured Guaranty Municipal insured, 0% 12/15/2034 |  | 17285 | 11157 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, AMBAC insured, 0% 12/15/2035 |  | 3580 | 2150 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2008-A, 0% 12/15/2035 |  | 4000 | 2387 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2006-C, AMBAC insured, 0% 12/15/2036 |  | 10660 | 6045 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, BAM Insured, 0% 12/15/2038 |  | 3180 | 1648 |
| Transportation Trust Fund Auth., Transportation System Bonds, Capital Appreciation Bonds, Series 2009-A, 0% 12/15/2039 |  | 13330 | 6336 |
| County of Union, Improvement Auth., Solid Waste Disposal Rev. Green Bonds (Aries Linden, LLC Project), Series 2019, AMT, 6.75% 12/1/2041<sup>2</sup> |  | 7500 | 6426 |
|  |  |  | **333947** |

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<br> American Funds Tax-Exempt Funds 265

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New Mexico 0.63%** |  |  |  |
| Educational Assistance Foundation, Education Loan Bonds, Series 2021-1-A, AMT, 2.05% 9/1/2051 | USD | 57450 | $52255 |
| City of Farmington, Pollution Control Rev. Ref. Bonds (Public Service Co. of San Juan and Four Corners Projects), Series 2016-B, 2.15% 4/1/2033 |  | 4515 | 3794 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2016-A-2, Class I, AMT, 3.50% 3/1/2046 |  | 470 | 466 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-C, Class I, 3.00% 1/1/2052 |  | 865 | 851 |
| Mortgage Fin. Auth., Single Family Mortgage Program Bonds, Series 2021-D, Class I, 3.00% 7/1/2052 |  | 3895 | 3831 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2034 |  | 1000 | 961 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2039 |  | 500 | 458 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2012, 5.00% 5/15/2042 |  | 1225 | 1083 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2044 |  | 1320 | 1154 |
| City of Santa Fe, Retirement Fac. Rev. Bonds (El Castillo Retirement Residences), Series 2019-A, 5.00% 5/15/2049 |  | 2405 | 2044 |
|  |  |  | **66897** |
| **New York 5.55%** |  |  |  |
| Town of Brookhaven Local Dev. Corp., Rev. Bonds (Active Retirement Community, Inc.), Series 2020-A, 4.00% 11/1/2055 |  | 6815 | 5590 |
| Town of Brookhaven Local Dev. Corp., Rev. Bonds (Long Island Community Hospital Project), Series 2020-A, 5.00% 10/1/2050 |  | 2250 | 2382 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Bonds (Barclays Center), Capital Appreciation Bonds, Series 2009, 0% 7/15/2045 |  | 2110 | 659 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Bonds (Barclays Center), Capital Appreciation Bonds, Series 2009, 0% 7/15/2046 |  | 3850 | 1134 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2026 |  | 2500 | 2579 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2042 |  | 49720 | 49719 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Capital Appreciation Bonds, Series 2009, 0% 7/15/2044 |  | 2000 | 664 |
| Build NYC Resource Corp., Rev. Bonds (Bronx Charter School for Excellence Project), Series 2013-A, 5.50% 4/1/2043 |  | 500 | 501 |
| Build NYC Resource Corp., Rev. Bonds (East Harlem Scholars Academy Charter School Project), Series 2022, 5.75% 6/1/2052<sup>2</sup> |  | 1250 | 1289 |
| Build NYC Resource Corp., Rev. Bonds (East Harlem Scholars Academy Charter School Project), Series 2022, 5.75% 6/1/2062<sup>2</sup> |  | 1900 | 1948 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, 5.00% 12/1/2041<sup>2</sup> |  | 1065 | 973 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, 5.00% 12/1/2051<sup>2</sup> |  | 1620 | 1413 |
| Build NYC Resource Corp., Rev. Bonds (Friends of Hellenic Classical Charter Schools, Inc. Project), Series 2021-A, 5.00% 12/1/2055<sup>2</sup> |  | 1430 | 1222 |
| Build NYC Resource Corp., Rev. Bonds (New World Preparatory Charter School Project), Series 2021-A, 4.00% 6/15/2031 |  | 350 | 337 |
| Build NYC Resource Corp., Rev. Bonds (New World Preparatory Charter School Project), Series 2021-A, 4.00% 6/15/2041 |  | 610 | 520 |
| Build NYC Resource Corp., Rev. Bonds (New World Preparatory Charter School Project), Series 2021-A, 4.00% 6/15/2051 |  | 635 | 500 |
| Build NYC Resource Corp., Rev. Bonds (New World Preparatory Charter School Project), Series 2021-A, 4.00% 6/15/2056 |  | 530 | 403 |
| Build NYC Resource Corp., Rev. Bonds (Shefa School Project), Series 2021-A, 2.50% 6/15/2031<sup>2</sup> |  | 500 | 429 |
| Build NYC Resource Corp., Rev. Bonds (Shefa School Project), Series 2021-A, 5.00% 6/15/2051<sup>2</sup> |  | 2000 | 1884 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Albert Einstein School of Medicine, Inc. Project), Series 2015, 5.50% 9/1/2045<sup>2</sup> |  | 5000 | 5062 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Brooklyn Navy Yard Cogeneration Partners, LP Project), Series 2019, AMT, 5.00% 12/31/2028<sup>2</sup> |  | 11390 | 10911 |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 4.50% 1/1/2025<sup>2</sup> |  | 205 | 208 |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 5.00% 1/1/2035<sup>2</sup> |  | 4495 | 4580 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2039 |  | 4000 | 1946 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2045 |  | 8135 | 2874 |

---

<br> 266 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2046 | USD | 3445 | $1155 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, Assured Guaranty Municipal insured, 0% 11/15/2048 |  | 5050 | 1529 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-A, 0% 11/15/2049 |  | 4020 | 1130 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2055 |  | 4265 | 907 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2056 |  | 3950 | 798 |
| Dormitory Auth., Rev. Bonds (Catholic Health System Obligated Group), Series 2019-A, 4.00% 7/1/2045 |  | 3500 | 2510 |
| Dormitory Auth., Rev. Bonds (Culinary Institute of America), Series 2013, 5.50% 7/1/2033 |  | 500 | 505 |
| Dormitory Auth., Rev. Bonds (Langone Hospitals Obligated Group), Series 2020-A, 4.00% 7/1/2050 |  | 7210 | 7024 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 9/1/2045 |  | 900 | 797 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 9/1/2050 |  | 1500 | 1290 |
| Dormitory Auth., Rev. Bonds (New School), Series 2022-A, 4.00% 7/1/2047 |  | 1235 | 1144 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2031<sup>2</sup> |  | 500 | 510 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2032<sup>2</sup> |  | 500 | 508 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2033<sup>2</sup> |  | 1200 | 1214 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2034<sup>2</sup> |  | 1200 | 1210 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 12/1/2034<sup>2</sup> |  | 1000 | 1015 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2035<sup>2</sup> |  | 1000 | 1006 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 3/15/2041 |  | 9000 | 7725 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2048 |  | 2500 | 2458 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2017, AMT, 2.875% 12/1/2044 (put 12/3/2029)<sup>2</sup> |  | 4750 | 4187 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2014-R-2, AMT, 3.125% 12/1/2044 (put 6/1/2026)<sup>2</sup> |  | 1500 | 1424 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, 2.75% 9/1/2050 (put 9/2/2025) |  | 2125 | 2022 |
| Genesee County Funding Corp., Rev. Bonds (Rochester Regional Health Project), Series 2022-A, 5.25% 12/1/2052 |  | 635 | 662 |
| Glen Cove Local Econ. Assistance Corp., Rev. Bonds (Garvies Point Public Improvement Project), Convertible Capital Appreciation Bonds, Series 2016-C, 0% 1/1/2055 (5.62% on 1/1/2024)<sup>1</sup> |  | 16320 | 14303 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-I, 1.75% 5/1/2024 |  | 1765 | 1737 |
| Town of Huntington Local Dev. Corp., Rev. Bonds (Gurwin Independent Housing, Inc. / Fountaingate Gardens Project), Series 2021-A, 5.25% 7/1/2056 |  | 3685 | 2923 |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% 11/1/2042 |  | 1750 | 1487 |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (3 World Trade Center Project), Series 2014, Class 2, 5.375% 11/15/2040<sup>2</sup> |  | 1000 | 1001 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.875% 11/15/2046 |  | 2655 | 2043 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 3.00% 11/15/2051 |  | 12885 | 9611 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2021-A, 3.00% 9/1/2040 |  | 1000 | 887 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2021-A-2, 4.00% 11/15/2043 |  | 1670 | 1547 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030) |  | 8450 | 9241 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-1, 5.00% 11/15/2043 |  | 1000 | 1039 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-1, 5.00% 11/15/2044 |  | 2000 | 2073 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2021-A-1, 4.00% 11/15/2046 |  | 3220 | 2924 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-2, 4.00% 11/15/2048 |  | 1000 | 898 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-3, 4.00% 11/15/2049 |  | 10430 | 9339 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 5.00% 11/15/2050 |  | 9500 | 9744 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 5.25% 11/15/2055 |  | 4215 | 4382 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Bonds, Series 2016-B, 5.00% 11/15/2023 |  | 1125 | 1140 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 11/15/2026 |  | 2365 | 2520 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-B, 5.00% 11/15/2026 |  | 1315 | 1401 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 5.00% 11/15/2028 |  | 1890 | 2010 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 5.00% 11/15/2032 |  | 930 | 1019 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 4.00% 11/15/2045 |  | 620 | 567 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Capital Appreciation Bonds, Series 2017-C-2, 0% 11/15/2032 |  | 6000 | 4148 |

---

<br> American Funds Tax-Exempt Funds 267

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Capital Appreciation Bonds, Series 2017-C-2, BAM insured, 0% 11/15/2040 | USD | 9325 | $4035 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Rochester Regional Health Project), Series 2020-A, 3.00% 12/1/2040 |  | 2205 | 1667 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (St. Ann's of Greater Rochester, Inc.), Series 2019, 5.00% 1/1/2040 |  | 1870 | 1658 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (St. Ann's of Greater Rochester, Inc.), Series 2019, 5.00% 1/1/2050 |  | 3715 | 3072 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 233, 3.00% 10/1/2045 |  | 4495 | 4433 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 239, 3.25% 10/1/2051 |  | 985 | 980 |
| New York City G.O. Bonds, Series 2020-D-1, 4.00% 3/1/2050 |  | 2500 | 2447 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2/15/2048 |  | 1600 | 1565 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-F, 4.50% 2/15/2048 |  | 1925 | 1898 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2019-E-2, 1.75% 5/1/2059 (put 7/3/2023) |  | 1300 | 1291 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Green Bonds (Sustainable Dev. Bonds), Series 2021-F-1, 2.25% 11/1/2041 |  | 2000 | 1426 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2046 |  | 3875 | 3058 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2039 |  | 1500 | 1300 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2040 |  | 4000 | 3416 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 3/1/2045 |  | 5350 | 5347 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-AA-1, 4.00% 6/15/2051 |  | 2000 | 1972 |
| Niagara Area Dev. Corp., Rev. Bonds (Catholic Health System, Inc. Project), Series 2022, 5.00% 7/1/2052 |  | 6020 | 4674 |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-B, 3.50% 11/1/2024<sup>2</sup> |  | 2150 | 2103 |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.75% 11/1/2042<sup>2</sup> |  | 15790 | 14426 |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 4/1/2029 |  | 1200 | 1225 |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, Assured Guaranty Municipal insured, 5.00% 5/1/2030 |  | 1490 | 1553 |
| Port Auth., Consolidated Bonds, Series 207, AMT, 5.00% 9/15/2032 |  | 4000 | 4361 |
| County of Rockland, G.O. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 3/1/2024 |  | 300 | 308 |
| Suffolk County Econ. Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2019-B, 5.00% 12/1/2040 |  | 1000 | 1016 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-E-1, 4.85% 11/1/2031<sup>2</sup> |  | 3940 | 3767 |
| Sullivan County Infrastructure Local Dev. Corp., Rev. Bonds (Adelaar Infrastructure Project), Series 2016-E-2, 5.35% 11/1/2049<sup>2</sup> |  | 16155 | 14931 |
| Thompkins County Dev. Corp., Rev. Bonds (Tompkins Cortland Community College Foundation, Inc. Project), Series 2013-A, 5.00% 7/1/2027<sup>6</sup> |  | 1805 | 893 |
| Thompkins County Dev. Corp., Rev. Bonds (Tompkins Cortland Community College Foundation, Inc. Project), Series 2013-A, 5.00% 7/1/2021<sup>6</sup> |  | 1000 | 495 |
| Thompkins County Dev. Corp., Rev. Bonds (Tompkins Cortland Community College Foundation, Inc. Project), Series 2013-A, 5.00% 7/1/2032<sup>6</sup> |  | 2345 | 1161 |
| Thompkins County Dev. Corp., Rev. Bonds (Tompkins Cortland Community College Foundation, Inc. Project), Series 2013-A, 5.00% 7/1/2038<sup>6</sup> |  | 1370 | 678 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2050 |  | 2500 | 2460 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2051 |  | 3000 | 2944 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2052 |  | 2500 | 2449 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2056 |  | 23870 | 23189 |
| Transportation Dev. Corp., Fac. Rev. Bonds (New York State Thruway Service Areas Project), Series 2021, AMT, 4.00% 10/31/2046 |  | 2750 | 2462 |
| Transportation Dev. Corp., Fac. Rev. Bonds (New York State Thruway Service Areas Project), Series 2021, AMT, 4.00% 4/30/2053 |  | 4880 | 4184 |

---

<br> 268 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2021, AMT, 2.25% 8/1/2026 | USD | 8125 | $7677 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2021, AMT, 3.00% 8/1/2031 |  | 2515 | 2326 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2020, AMT, 5.25% 8/1/2031 |  | 8545 | 8813 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2020, AMT, 5.375% 8/1/2036 |  | 4960 | 5038 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2036 |  | 1000 | 1061 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2037 |  | 705 | 736 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 5.00% 12/1/2038 |  | 1025 | 1089 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 4.00% 12/1/2039 |  | 1100 | 1044 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2040 |  | 1290 | 1340 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2041 |  | 1200 | 1241 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 4.00% 12/1/2042 |  | 2800 | 2651 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2042 |  | 4350 | 4485 |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2016, AMT, 5.00% 8/1/2026 |  | 11650 | 11652 |
| Transportation Dev. Corp., Special Fac. Rev. Ref. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2016, AMT, 5.00% 8/1/2031 |  | 34155 | 34155 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 4.00% 7/1/2032 |  | 2000 | 2006 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 4.00% 7/1/2033 |  | 4500 | 4510 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 4.00% 7/1/2046 |  | 4375 | 3898 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.00% 7/1/2046 |  | 3300 | 3302 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.25% 1/1/2050 |  | 16950 | 17000 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2026 |  | 1110 | 1143 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2029 |  | 565 | 593 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2030 |  | 3700 | 3879 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 4.00% 10/1/2030 |  | 5000 | 5022 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2031 |  | 13070 | 13675 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2032 |  | 7000 | 7316 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2033 |  | 3000 | 3131 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2034 |  | 2000 | 2082 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 4.00% 1/1/2036 |  | 12365 | 12049 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 5.00% 1/1/2036 |  | 1000 | 1028 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 5.00% 10/1/2040 |  | 6620 | 6776 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 4.375% 10/1/2045 |  | 26895 | 25579 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 5.00% 3/15/2023 |  | 960 | 963 |

---

<br> American Funds Tax-Exempt Funds 269

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **New York (continued)** |  |  |  |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-A-1, 5.00% 3/15/2024 (preref. 3/15/2023) | USD | 735 | $737 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-A-2, 5.00% 3/15/2024 |  | 270 | 271 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2013-D, 5.00% 3/15/2024 (preref. 3/15/2023) |  | 1015 | 1018 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2039 |  | 1500 | 1638 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 3.00% 3/15/2040 |  | 2000 | 1747 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2045 |  | 2455 | 2430 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 3.00% 3/15/2047 |  | 4000 | 3231 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-E, 3.00% 3/15/2050 |  | 2500 | 1975 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 3.00% 3/15/2040 |  | 2500 | 2219 |
| Westchester County Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 6/1/2047 |  | 1020 | 1035 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-D, 2.875% 7/1/2026<sup>2</sup> |  | 5200 | 5024 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-A, 5.00% 7/1/2056<sup>2</sup> |  | 3665 | 2842 |
| Westchester County Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, 5.00% 11/1/2046 |  | 6750 | 6550 |
| Westchester County Local Dev. Corp., Rev. Ref. Bonds (The Bethel Methodist Home - The Knolls Project), Series 2020-A, 5.00% 7/1/2040 |  | 1000 | 866 |
| Westchester County Local Dev. Corp., Rev. Ref. Bonds (The Bethel Methodist Home - The Knolls Project), Series 2020-A, 5.125% 7/1/2055 |  | 1100 | 895 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational Excellence Project), Series 2019-A, 4.00% 10/15/2029 |  | 200 | 191 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational Excellence Project), Series 2019-A, 5.00% 10/15/2039 |  | 420 | 404 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational Excellence Project), Series 2019-A, 5.00% 10/15/2054 |  | 930 | 859 |
|  |  |  | **590477** |
| **North Carolina 0.26%** |  |  |  |
| City of Charlotte, Charlotte Douglas International Airport, Airport Rev. Bonds, Series 2022-A, AMT, 3.00% 7/1/2046 |  | 3000 | 2421 |
| Educational Assistance Auth., Student Loan Rev. Bonds, Series 2020-A, AMT, 3.125% 6/1/2039 |  | 380 | 360 |
| County of Mecklenburg, G.O. School Bonds, Series 2021, 5.00% 3/1/2023 |  | 130 | 130 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (Lutheran Services for the Aging), Series 2021-A, 4.00% 3/1/2041 |  | 500 | 404 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (Lutheran Services for the Aging), Series 2021-A, 4.00% 3/1/2051 |  | 2500 | 1830 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Bonds (The Presbyterian Homes Obligated Group), Series 2020-A, 5.00% 10/1/2045 |  | 1500 | 1500 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (Pennybyrn at Maryfield), Series 2015, 5.00% 10/1/2025 |  | 315 | 318 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (Pennybyrn at Maryfield), Series 2015, 5.00% 10/1/2030 |  | 1900 | 1903 |
| Medical Care Commission, Health Care Facs. First Mortgage Rev. Ref. Bonds (Pennybyrn at Maryfield), Series 2015, 5.00% 10/1/2035 |  | 1000 | 993 |
| Medical Care Commission, Health Care Facs. Rev. Bonds (Novant Health Obligated Group), Series 2019-A, 4.00% 11/1/2049 |  | 2820 | 2826 |
| Medical Care Commission, Retirement Facs. First Mortgage Bonds (Pennybyrn at Maryfield), Series 2020-A, 5.00% 10/1/2045 |  | 1000 | 947 |
| Medical Care Commission, Retirement Facs. First Mortgage Bonds (Pennybyrn at Maryfield), Series 2020-A, 5.00% 10/1/2050 |  | 1500 | 1396 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (Plantation Village, Inc.), Series 2021-A, 4.00% 1/1/2052 |  | 3500 | 2832 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Carolina Village Project), Series 2017-B, 5.00% 4/1/2047 |  | 5230 | 4628 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Everyage), Series 2021-A, 4.00% 9/1/2041 |  | 1090 | 892 |

---

<br> 270 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **North Carolina (continued)** |  |  |  |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Everyage), Series 2021-A, 4.00% 9/1/2047 | USD | 2940 | $2267 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Everyage), Series 2021-A, 4.00% 9/1/2051 |  | 965 | 725 |
| Medical Care Commission, Retirement Facs. First Mortgage Rev. Bonds (Lutheran Retirement Ministries Project), Series 2019-A, 5.00% 1/1/2049 |  | 1300 | 1278 |
|  |  |  | **27650** |
| **North Dakota 0.16%** |  |  |  |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 12/1/2046 |  | 3430 | 2674 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2046 |  | 500 | 436 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, Assured Guaranty Municipal insured, 3.00% 12/1/2051 |  | 1675 | 1241 |
| City of Grand Forks, Health Care System Rev. Bonds, Series 2021, 4.00% 12/1/2051 |  | 300 | 250 |
| County of Grand Forks, Solid Waste Disposal Fac. Rev. Green Bonds (Red River Biorefinery, LLC Project), Series 2021-A, AMT, 6.625% 12/15/2031<sup>2</sup> |  | 2625 | 1444 |
| Housing Fin. Agcy., Housing Fin. Program Bonds (Home Mortgage Fin. Program), Series 2021-A, 3.00% 1/1/2052 |  | 920 | 906 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2043 |  | 8500 | 8181 |
| County of Ward, Health Care Facs. Rev. Bonds (Trinity Obligated Group), Series 2017-C, 5.00% 6/1/2053 |  | 2015 | 1862 |
|  |  |  | **16994** |
| **Ohio 3.53%** |  |  |  |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, 4.00% 9/1/2030 (put 6/1/2027) |  | 2500 | 2558 |
| Air Quality Dev. Auth., Air Quality Dev. Rev. Ref. Bonds (Duke Energy Corp. Project), Series 2022-B, AMT, 4.25% 11/1/2039 (put 6/1/2027) |  | 10585 | 10849 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-C, 1.50% 2/1/2026 (put 11/4/2025) |  | 3110 | 2887 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-A, 2.875% 2/1/2026 |  | 3810 | 3660 |
| Air Quality Dev. Auth., Air Quality Rev. Bonds (Ohio Valley Electric Corp. Project), Series 2009-D, 2.875% 2/1/2026 |  | 8350 | 8021 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (American Electric Co. Project), Series 2014-B, AMT, 2.60% 6/1/2041 (put 10/1/2029) |  | 1000 | 920 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (Ohio Valley Electric Corp. Project), Series 2019-A, 3.25% 9/1/2029 |  | 7500 | 6979 |
| Air Quality Dev. Auth., Air Quality Rev. Ref. Bonds (The Dayton Power and Light Co. Project), Series 2015-A, AMT, 4.25% 11/1/2040 (put 6/1/2027) |  | 2000 | 2034 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (AMG Vanadium Project), Series 2019, AMT, 5.00% 7/1/2049<sup>2</sup> |  | 33975 | 31049 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.25% 1/15/2038<sup>2</sup> |  | 1850 | 1800 |
| Air Quality Dev. Auth., Exempt Facs. Rev. Bonds (Pratt Paper (OH), LLC Project), Series 2017, AMT, 4.50% 1/15/2048<sup>2</sup> |  | 2500 | 2371 |
| County of Allen, Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 12/1/2040 |  | 1200 | 1191 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 3.00% 6/1/2048 |  | 5015 | 3822 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-A-2, 4.00% 6/1/2048 |  | 3960 | 3645 |
| Buckeye Tobacco Settlement Fncg. Auth., Tobacco Settlement Asset-Backed Rev. Ref. Bonds, Series 2020-B-2, 5.00% 6/1/2055 |  | 21760 | 20781 |
| County of Butler, Hospital Facs. Rev. Bonds (UC Health), Series 2016, 5.00% 11/15/2045 |  | 2000 | 2021 |
| City of Centerville, Health Care Improvement and Rev. Ref. Bonds, Series 2017, 5.25% 11/1/2037 |  | 4250 | 4110 |
| City of Centerville, Health Care Improvement and Rev. Ref. Bonds, Series 2017, 5.25% 11/1/2047 |  | 7195 | 6616 |
| City of Centerville, Health Care Improvement and Rev. Ref. Bonds, Series 2017, 5.25% 11/1/2050 |  | 2400 | 2188 |
| Cleveland-Cuyahoga Port Auth., Tax Increment Fncg. Rev. and Rev. Ref. Bonds (Flats East Bank Project), Series 2021-A, 4.00% 12/1/2055<sup>2</sup> |  | 11805 | 10037 |
| Cleveland-Cuyahoga Port Auth., Tax Increment Fncg. Rev. and Rev. Ref. Bonds (Flats East Bank Project), Series 2021-B, 4.50% 12/1/2055<sup>2</sup> |  | 6800 | 5936 |
| City of Columbus, Unlimited Tax G.O. Bonds, Series 2021-A, 5.00% 4/1/2023 |  | 1430 | 1436 |
| Columbus-Franklin County Fin. Auth., Public Infrastructure Rev. Bonds (Bridge Park D Block Project), Series 2019-A-A, 5.00% 12/1/2051 |  | 8085 | 8097 |

---

<br> American Funds Tax-Exempt Funds 271

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Ohio (continued)** |  |  |  |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2052 | USD | 2250 | $2199 |
| County of Cuyahoga, Hospital Rev. Bonds (MetroHealth System), Series 2017, 5.00% 2/15/2057 |  | 5915 | 5755 |
| County of Franklin, Health Care Facs. Rev. Bonds (OPRS Communities), Series 2016-C, 5.00% 7/1/2038 |  | 3000 | 3036 |
| County of Franklin, Health Care Facs. Rev. Ref. and Improvement Bonds (Wesley Communities Obligated Group), Series 2020, 5.25% 11/15/2040 |  | 2905 | 2760 |
| County of Franklin, Health Care Facs. Rev. Ref. and Improvement Bonds (Wesley Communities Obligated Group), Series 2020, 5.25% 11/15/2055 |  | 8455 | 7605 |
| County of Franklin, Health Care Facs. Rev. Ref. Bonds (Ohio Living Communities), Series 2022, 4.00% 7/1/2040 |  | 5790 | 5078 |
| Port of Greater Cincinnati Dev. Auth., Education Rev. Bonds (IPS Cincinnati, LLC - Idea Greater Cincinnati, Inc. Projects), Series 2021, 4.375% 6/15/2056 (put 6/15/2026) |  | 4680 | 4534 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, 5.00% 1/1/2031 |  | 4360 | 4409 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, 5.00% 1/1/2046 |  | 3870 | 3634 |
| County of Hamilton, Healthcare Improvement and Rev. Ref. Bonds (Life Enriching Communities Project), Series 2016, 5.00% 1/1/2051 |  | 6145 | 5660 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2017-A, 5.00% 1/1/2047 |  | 2560 | 2391 |
| County of Hamilton, Healthcare Rev. Bonds (Life Enriching Communities Project), Series 2017-A, 5.00% 1/1/2052 |  | 1125 | 1032 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2041 |  | 1465 | 1406 |
| Healthcare Fac. Rev. Bonds (Otterbein Homes Obligated Group), Series 2021-B, 4.00% 7/1/2046 |  | 1000 | 935 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2047 |  | 2450 | 2610 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Ashtabula County Medical Center Obligated Group), Series 2022, 5.25% 1/1/2052 |  | 905 | 958 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series 2020-A, 5.00% 12/1/2042 |  | 2250 | 2184 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series 2020-A, 5.00% 12/1/2045 |  | 2750 | 2631 |
| Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series 2020-A, 5.00% 12/1/2050 |  | 6525 | 6142 |
| Higher Educational Facs. Commission, Higher Educational Facs. Rev. Bonds (John Carroll University Project), Series 2022, 4.00% 10/1/2052 |  | 4225 | 3650 |
| Higher Educational Facs. Commission, Hospital Parking Rev. Bonds (University Circle, Inc. 2020 Project), Series 2020, 5.00% 1/15/2045 |  | 3925 | 3987 |
| City of Hilliard, Hickory Chase Community Auth., Infrastructure Improvement Rev. Bonds (Hickory Chase Project), Series 2019-A, 5.00% 12/1/2040<sup>2</sup> |  | 2330 | 2157 |
| City of Hilliard, Hickory Chase Community Auth., Infrastructure Improvement Rev. Bonds (Hickory Chase Project), Series 2019-B-1, 6.00% 12/1/2046<sup>2</sup> |  | 2320 | 2121 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2028<sup>2</sup> |  | 6000 | 6083 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2033<sup>2</sup> |  | 13835 | 13970 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2038<sup>2</sup> |  | 6750 | 6516 |
| Hospital Rev. Bonds (Aultman Health Foundation), Series 2018, 5.00% 12/1/2048<sup>2</sup> |  | 17670 | 16176 |
| County of Lucas, Hospital Rev. Bonds (Promedica Healthcare Obligated Group), Series 2018-A, 5.25% 11/15/2048 |  | 51885 | 46603 |
| County of Montgomery, Hospital Facs. Rev. Bonds (Dayton Children's Hospital), Series 2021, 4.00% 8/1/2051 |  | 3000 | 2894 |
| County of Muskingum, Hospital Facs. Rev. Ref. Bonds (Genesis HealthCare System Obligated Group Project), Series 2013, 5.00% 2/15/2048 |  | 5180 | 4739 |
| North East Ohio Regional Sewer Dist., Wastewater Improvement Rev. Bonds, Series 2013, 5.00% 11/15/2043 |  | 515 | 519 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 12/31/2039 |  | 120 | 122 |
| Private Activity Bonds (Portsmouth Bypass Project), Series 2015, AMT, Assured Guaranty Municipal insured, 5.00% 6/30/2053 |  | 12955 | 13020 |
| Southeastern Ohio Port Auth., Hospital Facs. Rev. Ref. and Improvement Bonds (Memorial Health System Obligated Group Project), Series 2015, 5.00% 12/1/2035 |  | 850 | 852 |
| Southern Ohio Port Auth., Exempt Fac. Rev. Bonds (PureCycle Project), Series 2020-A, AMT, 7.00% 12/1/2042<sup>2</sup> |  | 10100 | 7359 |
| Toledo Hospital (ProMedica Healthcare Obligated Group) 5.325% 11/15/2028 |  | 12383 | 10149 |
| County of Warren, Healthcare Facs., Rev. Ref. Bonds (Otterbein Homes Obligated Group), Series 2016-A, 5.00% 7/1/2040 |  | 1575 | 1626 |
| County of Washington, Hospital Facs. Rev. Bonds (Memorial Health System Obligated Group), Series 2022, 6.625% 12/1/2042 |  | 3500 | 3586 |
| County of Washington, Hospital Facs. Rev. Bonds (Memorial Health System Obligated Group), Series 2022, 6.75% 12/1/2052 |  | 21000 | 21342 |
|  |  |  | **375438** |

---

<br> 272 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Oklahoma 0.09%** |  |  |  |
| County of Comanche, Hospital Auth., Hospital Rev. Ref. Bonds, Series 2015, 5.00% 7/1/2029 | USD | 1070 | $1079 |
| Dev. Fin. Auth., Health System Rev. Bonds (OU Medicine Project), Series 2018-B, 5.25% 8/15/2043 |  | 1500 | 1420 |
| Dev. Fin. Auth., Health System Rev. Bonds (OU Medicine Project), Series 2018-B, 5.50% 8/15/2052 |  | 1600 | 1552 |
| Dev. Fin. Auth., Rev. Bonds (Oklahoma Proton Center), Series 2021-A-1, 7.25% 9/1/2051<sup>2</sup> |  | 3500 | 3674 |
| Dev. Fin. Auth., Rev. Bonds (Provident Education Resources, Inc. - Cross Village Student Housing Project), Series 2017-A, 5.00% 8/1/2037<sup>6</sup> |  | 325 | –<sup>10</sup> |
| Dev. Fin. Auth., Rev. Bonds (Provident Education Resources, Inc. - Cross Village Student Housing Project), Series 2017-A, 5.00% 8/1/2047<sup>6</sup> |  | 1132 | 1 |
| Dev. Fin. Auth., Rev. Bonds (Provident Education Resources, Inc. - Cross Village Student Housing Project), Series 2017-A, 5.00% 8/1/2052<sup>6</sup> |  | 586 | 1 |
| Dev. Fin. Auth., Rev. Bonds (Provident Education Resources, Inc. - Cross Village Student Housing Project), Series 2017-A, 5.25% 8/1/2057<sup>6</sup> |  | 2054 | 2 |
| Trustees of the Tulsa Airports Improvement Trust, General Airport Rev. Bonds, Series 2015-A, AMT, BAM insured, 5.00% 6/1/2045 (preref. 6/1/2024) |  | 1000 | 1029 |
| Trustees of the Tulsa Municipal Airport Trust, Rev. Ref. Bonds (AMR Corp. Guaranteed), Series 2013-B, AMT, 5.50% 12/1/2035 |  | 520 | 521 |
|  |  |  | **9279** |
| **Oregon 0.28%** |  |  |  |
| Business Dev. Commission, Econ. Dev. Rev. Bonds (Red Rock Biofuels, LLC Clean Energy Project), Series 2017-A-248, AMT, 6.50% 4/1/2031<sup>2,6</sup> |  | 100 | 7 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, 5.125% 11/15/2040 |  | 625 | 601 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, 5.25% 11/15/2050 |  | 1000 | 928 |
| County of Clackamas, Hospital Facs. Auth., Rev. Senior Living Bonds (Rose Villa, Inc. Obligated Group), Series 2020-A, 5.375% 11/15/2055 |  | 1000 | 931 |
| Facs. Auth., Rev. Ref. Bonds (Samaritan Health Services Project), Series 2020-A, 5.00% 10/1/2040 |  | 2250 | 2346 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview Project), Series 2021-A, 4.00% 12/1/2051 |  | 2170 | 1571 |
| County of Multnomah, Hospital Facs. Auth., Rev. and Rev. Ref. Green Bonds (Exempt Terwilliger Plaza - Parkview Project), Series 2021-A, 4.00% 12/1/2056 |  | 4555 | 3197 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.125% 7/1/2035 |  | 3580 | 3362 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.375% 7/1/2045 |  | 1500 | 1366 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2015-A, 5.50% 7/1/2050 |  | 5080 | 4620 |
| County of Polk, Hospital Fac. Auth., Rev. Bonds (Dallas Retirement Village Project), Series 2020-A, 5.125% 7/1/2055 |  | 6200 | 5243 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2047 |  | 1000 | 789 |
| City of Salem, Hospital Fac. Auth., Rev. and Rev. Ref. Bonds (Capital Manor Project), Series 2022, 4.00% 5/15/2057 |  | 1865 | 1379 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2033 |  | 540 | 545 |
| City of Salem, Hospital Fac. Auth., Rev. Bonds (Capital Manor Project), Series 2018, 5.00% 5/15/2048 |  | 1250 | 1213 |
| County of Yamhill, Hospital Auth., Rev. Bonds (Friendsview Retirement Community), Series 2021-B-3, 1.75% 11/15/2026 |  | 1690 | 1566 |
|  |  |  | **29664** |
| **Pennsylvania 3.74%** |  |  |  |
| County of Allegheny, Hospital Dev. Auth., Rev. Bonds (University of Pittsburgh Medical Center Issue), Series 2007-A-1, (3-month USD-LIBOR x 0.67 + 0.82%) 3.795% 2/1/2037<sup>3</sup> |  | 5865 | 5769 |
| Allentown City School Dist., Unlimited Tax G.O. Bonds, Series 2018, BAM insured, 5.00% 2/1/2028 |  | 2500 | 2793 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Project), Series 2018, 5.00% 5/1/2042<sup>2</sup> |  | 1500 | 1417 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Bonds (City Center Ref. Project), Series 2017, 5.00% 5/1/2042<sup>2</sup> |  | 2605 | 2460 |
| City of Allentown, Neighborhood Improvement Zone Dev. Auth., Tax Rev. Ref. Bonds, Series 2022, 5.00% 5/1/2042 |  | 1000 | 1021 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 5.00% 11/1/2035 |  | 4675 | 3578 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 5.00% 11/1/2036 |  | 545 | 411 |

---

<br> American Funds Tax-Exempt Funds 273

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2038 | USD | 210 | $135 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2039 |  | 300 | 190 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 3.75% 11/1/2042 |  | 1560 | 901 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2047 |  | 9000 | 5268 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 5.00% 11/1/2047 |  | 6965 | 4835 |
| County of Berks, Industrial Dev. Auth., Health System Rev. Bonds (Tower Health Project), Series 2017, 4.00% 11/1/2050 |  | 13000 | 7608 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-A, 5.00% 5/15/2032 |  | 350 | 353 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2018, 5.00% 5/15/2033 |  | 750 | 756 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2018, 5.00% 5/15/2038 |  | 1000 | 996 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2017-C, 5.00% 5/15/2042 |  | 1000 | 981 |
| County of Berks, Industrial Dev. Auth., Healthcare Facs. Rev. Bonds (The Highlands at Wyomissing), Series 2018, 5.00% 5/15/2043 |  | 170 | 166 |
| County of Berks, Municipal Auth., Rev. Bonds (The Reading Hospital and Medical Center Project), Series 2012-A, 4.25% 11/1/2041 |  | 235 | 149 |
| County of Berks, Municipal Auth., Rev. Bonds (The Reading Hospital and Medical Center Project), Series 2012-A, 4.50% 11/1/2041 |  | 100 | 66 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2036 |  | 1200 | 1210 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2038 |  | 1725 | 1707 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2040 |  | 3000 | 2896 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2041 |  | 2130 | 2030 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 4.00% 7/1/2046 |  | 2660 | 2160 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 4.00% 7/1/2051 |  | 8730 | 6721 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (Grand View Hospital), Series 2021, 5.00% 7/1/2054 |  | 7470 | 6946 |
| County of Bucks, Industrial Dev. Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2019, 4.00% 8/15/2050 |  | 2500 | 2316 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2032 |  | 585 | 595 |
| County of Bucks, Industrial Dev. Auth., Rev. Bonds (Pennswood Village Project), Series 2018-A, 5.00% 10/1/2033 |  | 415 | 421 |
| County of Chester, Health and Education Facs. Auth., Rev. Bonds (Simpson Senior Services Project), Series 2015-A, 5.25% 12/1/2045 |  | 1960 | 1808 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Avon Grove Charter School Project), Series 2017-A, 5.00% 12/15/2047 |  | 1160 | 1178 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Avon Grove Charter School Project), Series 2017-A, 5.00% 12/15/2051 |  | 645 | 653 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Woodlands Greystone Project), Series 2018, 4.375% 3/1/2028<sup>2</sup> |  | 275 | 273 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Woodlands Greystone Project), Series 2018, 5.00% 3/1/2038<sup>2</sup> |  | 1462 | 1451 |
| County of Chester, Industrial Dev. Auth., Rev. Bonds (Woodlands Greystone Project), Series 2018, 5.125% 3/1/2048<sup>2</sup> |  | 3000 | 2861 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2036 |  | 1515 | 1585 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2046 |  | 7500 | 7716 |
| County of Crawford, Hospital Auth., Rev. Bonds (Meadville Medical Center Project), Series 2016-A, 6.00% 6/1/2051 |  | 7005 | 7160 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Diakon Lutheran Social Ministries Project), Series 2016, 5.00% 1/1/2030 |  | 1000 | 1023 |
| County of Cumberland, Municipal Auth., Rev. Bonds (Diakon Lutheran Social Ministries Project), Series 2016, 5.00% 1/1/2033 |  | 1610 | 1640 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 3.375% 1/1/2029 |  | 4545 | 4136 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% 1/1/2029 |  | 3165 | 3163 |

---

<br> 274 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% 1/1/2034 | USD | 4415 | $4320 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% 1/1/2039 |  | 1345 | 1259 |
| County of Cumberland, Municipal Auth., Rev. Ref. Bonds (Asbury Pennsylvania Obligated Group), Series 2019, 5.00% 1/1/2045 |  | 7650 | 6913 |
| County of Dauphin, General Auth., Health System Rev. Bonds (Pinnacle Health System Project), Series 2016-A, 5.00% 6/1/2034 |  | 1245 | 1311 |
| County of Dauphin, General Auth., Health System Rev. Bonds (Pinnacle Health System Project), Series 2016-A, 5.00% 6/1/2036 |  | 500 | 522 |
| Delaware Valley Regional Fin. Auth., Local Government Rev. Bonds, Series 2007-C, (3-month USD-LIBOR x 0.67 + 0.75%) 3.939% 6/1/2037<sup>3</sup> |  | 8980 | 7801 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2041 |  | 7550 | 6540 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 4.00% 7/1/2045 |  | 4100 | 2983 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2016-A, 5.00% 7/1/2046 |  | 6690 | 5625 |
| City of Doylestown, Hospital Auth., Rev. Bonds (Doylestown Hospital), Series 2019-A, 5.00% 7/1/2049 |  | 2000 | 1653 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2020, 4.00% 7/15/2050 |  | 2000 | 1826 |
| City of Dubois, Hospital Auth., Hospital Rev. Bonds (Penn Highlands Healthcare), Series 2021, 4.00% 7/15/2051 |  | 1500 | 1361 |
| Econ. Dev. Fncg. Auth., Exempt Facs. Rev. Ref. Bonds (National Gypsum Co.), Series 2014, AMT, 5.50% 11/1/2044 |  | 4500 | 4540 |
| Econ. Dev. Fncg. Auth., Pollution Control Rev. Ref. Bonds (PPL Electric Utilities Corp. Project), Series 2008, 0.40% 10/1/2023 |  | 3800 | 3718 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Penndot Major Bridges Package One Project), Series 2022, AMT, 5.25% 6/30/2053 |  | 850 | 894 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2029 |  | 5000 | 5176 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2034 |  | 25705 | 26279 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 12/31/2038 |  | 14490 | 14649 |
| Econ. Dev. Fncg. Auth., Private Activity Rev. Bonds (The Pennsylvania Rapid Bridge Replacement Project), Series 2015, AMT, 5.00% 6/30/2042 |  | 1000 | 1004 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Consol Energy, Inc. Project), Series 2021-A, 9.00% 4/1/2051 (put 4/13/2028)<sup>2</sup> |  | 9750 | 11137 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.58% 8/1/2037 (put 8/1/2024) |  | 1600 | 1521 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2021-A, AMT, (SIFMA Municipal Swap Index + 0.40%) 2.06% 6/1/2041 (put 6/3/2024)<sup>3</sup> |  | 10855 | 10576 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2011, AMT, 2.15% 7/1/2041 (put 7/1/2024) |  | 3500 | 3411 |
| Econ. Dev. Fncg. Auth., Solid Waste Disposal Rev. Green Bonds (Covanta Project), Series 2019, AMT, 3.25% 8/1/2039<sup>2</sup> |  | 7950 | 6048 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 4/1/2029 |  | 300 | 342 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 4/1/2031 |  | 525 | 598 |
| Erie County School Dist., Limited Tax G.O. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 4/1/2034 |  | 825 | 932 |
| County of Franklin, Industrial Dev. Auth., Rev. Bonds (Menno-Haven, Inc. Project), Series 2018, 5.00% 12/1/2043 |  | 1000 | 859 |
| County of Franklin, Industrial Dev. Auth., Rev. Bonds (Menno-Haven, Inc. Project), Series 2018, 5.00% 12/1/2048 |  | 1300 | 1094 |
| County of Franklin, Industrial Dev. Auth., Rev. Bonds (Menno-Haven, Inc. Project), Series 2019, 5.00% 12/1/2049 |  | 510 | 427 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/1/2028 |  | 550 | 600 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2020, 2.45% 6/1/2041 |  | 2805 | 2378 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.625% 6/1/2042 |  | 5335 | 4650 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2022-A, AMT, 4.50% 6/1/2043 |  | 1380 | 1424 |
| Higher Education Assistance Agcy., Education Loan Rev. Bonds, Series 2021-B, AMT, 3.125% 6/1/2048 |  | 1000 | 792 |
| Higher Education Facs. Auth., Rev. Bonds (University of the Sciences in Philadelphia), Series 2015-A, 3.00% 11/1/2028 |  | 500 | 482 |
| Higher Educational Facs. Auth., Rev. Bonds (Thomas Jefferson University), Series 2015-A, 5.25% 9/1/2050 |  | 2400 | 2445 |
| Higher Educational Facs. Auth., Student Housing Rev. Bonds (University Properties, Inc. Student Housing Project at East Stroudsburg University of Pennsylvania), Series 2016-A, 5.00% 7/1/2026 |  | 570 | 581 |
| Higher Educational Facs. Auth., Student Housing Rev. Bonds (University Properties, Inc. Student Housing Project at East Stroudsburg University of Pennsylvania), Series 2016-A, 5.00% 7/1/2031 |  | 1450 | 1467 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2019-128-A, AMT, 4.75% 4/1/2033 |  | 1355 | 1374 |

---

<br> American Funds Tax-Exempt Funds 275

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2017-124-A, AMT, 4.00% 10/1/2038 | USD | 275 | $275 |
| Housing Fin. Agcy., Single Family Mortgage Rev. Bonds, Series 2021-137, 3.00% 10/1/2051 |  | 2580 | 2516 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), Series 2021, 4.00% 7/1/2051 |  | 555 | 436 |
| City of Lancaster, Industrial Dev. Auth., Health Center Rev. Ref. Bonds (Landis Homes Retirement Community Project), Series 2021, 4.00% 7/1/2056 |  | 2850 | 2182 |
| County of Lehigh, General Purpose Auth., Hospital Rev. Bonds (Lehigh Valley Health Network), Series 2019-A, 4.00% 7/1/2049 |  | 1750 | 1661 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 5.00% 5/1/2052 |  | 8000 | 8299 |
| County of Montgomery, Higher Education and Health Auth., Rev. Bonds (Thomas Jefferson University), Series 2022-B, 4.00% 5/1/2056 |  | 1000 | 906 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. Project), Series 2017, 5.00% 12/1/2032 |  | 340 | 346 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. Project), Series 2017, 5.00% 12/1/2037 |  | 780 | 788 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. Project), Series 2017, 5.00% 12/1/2047 |  | 6055 | 5961 |
| County of Montgomery, Higher Education and Health Auth., Rev. Ref. Bonds (Philadelphia Presbytery Homes, Inc. Project), Series 2017, 4.00% 12/1/2048 |  | 745 | 599 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2030 (preref. 1/15/2025) |  | 5185 | 5458 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2036 (preref. 1/15/2025) |  | 1000 | 1053 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2045 (preref. 1/15/2025) |  | 3500 | 3684 |
| County of Montgomery, Industrial Dev. Auth., Health Systems Rev. Bonds (Albert Einstein Healthcare Network Issue), Series 2015-A, 5.25% 1/15/2046 (preref. 1/15/2025) |  | 1000 | 1053 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2033 |  | 3360 | 3447 |
| County of Montgomery, Industrial Dev. Auth., Retirement Communities Rev. Bonds (ACTS Retirement - Life Communities, Inc. Obligated Group), Series 2016, 5.00% 11/15/2036 |  | 4250 | 4308 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-C, 4.00% 11/15/2043 |  | 500 | 433 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Lifespace Communities, Inc.), Series 2020-C, 5.00% 11/15/2045 |  | 1240 | 1240 |
| County of Montgomery, Industrial Dev. Auth., Rev. Bonds (Waverly Heights, Ltd.), Series 2019, 5.00% 12/1/2044 |  | 1250 | 1297 |
| County of Northampton, General Purpose Auth., Hospital Rev. Bonds (St. Luke's University Health Network Project), Series 2018-B, (1-month USD-LIBOR x 0.70 + 1.04%) 4.098% 8/15/2048 (put 8/15/2024)<sup>3</sup> |  | 600 | 600 |
| County of Northampton, Industrial Dev. Auth., Rev. Bonds (Morningstar Senior Living, Inc.), Series 2019, 5.00% 11/1/2039 |  | 1500 | 1406 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2028 |  | 1000 | 1070 |
| City of Philadelphia, Hospitals and Higher Education Facs. Auth., Hospital Rev. Bonds (Temple University Health System Obligated Group), Series 2017, 5.00% 7/1/2033 |  | 3500 | 3684 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School II Project), Series 2020-A, 5.00% 8/1/2030 |  | 425 | 447 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School II Project), Series 2020-A, 5.00% 8/1/2040 |  | 620 | 638 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School II Project), Series 2020-A, 5.00% 8/1/2050 |  | 1050 | 1069 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), Series 2021, 5.00% 8/1/2030 |  | 2265 | 2383 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), Series 2021, 5.00% 8/1/2040 |  | 4020 | 4140 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), Series 2021, 5.00% 8/1/2050 |  | 7240 | 7372 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Mast Community Charter School III Project), Series 2021, 5.00% 8/1/2054 |  | 5245 | 5307 |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Philadelphia Electrical and Technology Charter School Project), Series 2021-A, 4.00% 6/1/2041 |  | 750 | 637 |

---

<br> 276 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Pennsylvania (continued)** |  |  |  |
| City of Philadelphia, Industrial Dev. Auth., Charter School Rev. Bonds (Philadelphia Electrical and Technology Charter School Project), Series 2021-A, 4.00% 6/1/2051 | USD | 1600 | $1238 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Independence Charter School West), Series 2019, 4.00% 6/15/2029 |  | 350 | 340 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Independence Charter School West), Series 2019, 5.00% 6/15/2039 |  | 500 | 498 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (Independence Charter School West), Series 2019, 5.00% 6/15/2050 |  | 1375 | 1289 |
| City of Philadelphia, Industrial Dev. Auth., Rev. Bonds (University of the Sciences), Series 2017, 5.00% 11/1/2047 |  | 5925 | 6048 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2028 |  | 4100 | 4428 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, 5.00% 9/1/2028 |  | 745 | 833 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2029 |  | 4500 | 4854 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2030 (preref. 9/1/2026) |  | 10 | 11 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2036 |  | 1000 | 1052 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2037 |  | 1500 | 1576 |
| Philadelphia School Dist., G.O. Bonds, Series 2016-F, 5.00% 9/1/2038 |  | 1000 | 1049 |
| Philadelphia School Dist., G.O. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 9/1/2038 |  | 1000 | 1081 |
| Philadelphia School Dist., G.O. Rev. Ref. Bonds, Series 2007-A, FGIC-National insured, 5.00% 6/1/2034 |  | 3000 | 3611 |
| Reading School Dist., G.O. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 3/1/2027 |  | 275 | 303 |
| Reading School Dist., G.O. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 3/1/2028 |  | 275 | 302 |
| Reading School Dist., G.O. Bonds, Series 2017, Assured Guaranty Municipal insured, 5.00% 3/1/2038 |  | 1000 | 1062 |
| Scranton School Dist., G.O. Bonds, Series 2017-E, BAM insured, 5.00% 12/1/2035 |  | 750 | 821 |
| Susquehanna Area Regional Airport Auth., Airport System Rev. Bonds, Series 2017, AMT, 5.00% 1/1/2035 |  | 4685 | 4967 |
| Susquehanna Area Regional Airport Auth., Airport System Rev. Bonds, Series 2017, AMT, 5.00% 1/1/2038 |  | 7260 | 7565 |
| Tower Health 4.451% 2/1/2050 |  | 16535 | 7803 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2017-B-2, Assured Guaranty Municipal insured, 5.00% 6/1/2033 |  | 1000 | 1102 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2043 |  | 340 | 338 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2044 |  | 425 | 421 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2044 |  | 4750 | 5143 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2045 |  | 470 | 462 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2046 |  | 510 | 499 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 12/1/2049 |  | 1425 | 1527 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-A, 4.00% 12/1/2050 |  | 1000 | 949 |
| Turnpike Commission, Turnpike Rev. Bonds, Series 2021-B, 3.00% 12/1/2051 |  | 3000 | 2303 |
| County of Washington, Redev. Auth., Redev. Rev. Ref. Bonds (Victory Centre Tax Increment Fncg. Project), Series 2018, 4.00% 7/1/2023 |  | 195 | 195 |
| County of Washington, Redev. Auth., Redev. Rev. Ref. Bonds (Victory Centre Tax Increment Fncg. Project), Series 2018, 5.00% 7/1/2028 |  | 850 | 855 |
| County of Westmoreland, Industrial Dev. Auth., Health System Rev. Bonds (Excela Health Project), Series 2020-A, 4.00% 7/1/2025 |  | 900 | 914 |
| County of Westmoreland, Industrial Dev. Auth., Health System Rev. Bonds (Excela Health Project), Series 2020-A, 4.00% 7/1/2037 |  | 2800 | 2667 |
| Wilkes-Barre Area School Dist., G.O. Bonds, Series 2019, BAM insured, 5.00% 4/15/2059 |  | 2000 | 2092 |
|  |  |  | **397907** |
| **Puerto Rico 5.95%** |  |  |  |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 4.00% 7/1/2023<sup>2</sup> |  | 6370 | 6370 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2024<sup>2</sup> |  | 1700 | 1723 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2025<sup>2</sup> |  | 4000 | 4084 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2030<sup>2</sup> |  | 5000 | 5165 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 5.00% 7/1/2033<sup>2</sup> |  | 485 | 499 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2033<sup>2</sup> |  | 4120 | 4236 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2020-A, 5.00% 7/1/2035<sup>2</sup> |  | 23105 | 23549 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 5.00% 7/1/2037<sup>2</sup> |  | 450 | 458 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 5.00% 7/1/2037<sup>2</sup> |  | 1545 | 1571 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 5.00% 7/1/2037<sup>2</sup> |  | 13510 | 13763 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-A, 4.00% 7/1/2042<sup>2</sup> |  | 3045 | 2729 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2042<sup>2</sup> |  | 60885 | 54562 |
| Aqueduct and Sewer Auth., Rev. Ref. Bonds, Series 2022-A, 4.00% 7/1/2042<sup>2</sup> |  | 22540 | 20199 |
| Children's Trust, Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2008-A, 0% 5/15/2057 |  | 75000 | 5423 |

---

<br> American Funds Tax-Exempt Funds 277

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Puerto Rico (continued)** |  |  |  |
| Commonwealth Highways and Transportation Auth., Toll Rev. Bonds, Series 2022-A, 5.00% 7/1/2062 | USD | 9000 | $8685 |
| Commonwealth Highways and Transportation Auth., Toll Rev. Bonds, Capital Appreciation Bonds, Series 2022-C, 0% 7/1/2053 (put 7/1/2032)<sup>1</sup> |  | 37500 | 21844 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2023<sup>6</sup> |  | 235 | 165 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.375% 7/1/2023<sup>6</sup> |  | 235 | 165 |
| Electric Power Auth., Power Rev. Bonds, Series 2005-SS, National insured, 5.00% 7/1/2024 |  | 1420 | 1422 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.25% 7/1/2024<sup>6</sup> |  | 1230 | 864 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.375% 7/1/2024<sup>6</sup> |  | 6815 | 4796 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-XX, 5.00% 7/1/2026<sup>6</sup> |  | 340 | 239 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2026<sup>6</sup> |  | 165 | 116 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.00% 7/1/2027<sup>6</sup> |  | 355 | 248 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2027<sup>6</sup> |  | 320 | 225 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.50% 7/1/2027<sup>6</sup> |  | 3000 | 2081 |
| Electric Power Auth., Power Rev. Bonds, Series 2005-RR, Assured Guaranty insured, 5.00% 7/1/2028 |  | 3100 | 3122 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2028<sup>6</sup> |  | 20 | 14 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2029<sup>6</sup> |  | 125 | 88 |
| Electric Power Auth., Power Rev. Bonds, Series 2005-SS, Assured Guaranty Municipal insured, 5.00% 7/1/2030 |  | 185 | 186 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2030<sup>6</sup> |  | 110 | 77 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032<sup>6</sup> |  | 4055 | 2838 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2022<sup>6</sup> |  | 250 | 172 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 7.00% 7/1/2033<sup>6</sup> |  | 300 | 216 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2035<sup>6</sup> |  | 250 | 176 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2037<sup>6</sup> |  | 4115 | 2880 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040<sup>6</sup> |  | 16225 | 11398 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 7.00% 7/1/2040<sup>6</sup> |  | 4500 | 3240 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042<sup>6</sup> |  | 10120 | 7084 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.05% 7/1/2042<sup>6</sup> |  | 1885 | 1315 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, Assured Guaranty Municipal insured, 3.65% 7/1/2024 |  | 120 | 118 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, Assured Guaranty Municipal insured, (3-month USD-LIBOR x 0.67 + 0.52%) 3.705% 7/1/2029<sup>3</sup> |  | 16010 | 14507 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-VV, National insured, 5.25% 7/1/2030 |  | 475 | 481 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2003-NN, National insured, 4.75% 7/1/2033 |  | 1870 | 1872 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2008-WW, 5.50% 7/1/2038<sup>6</sup> |  | 2150 | 1518 |
| G.O. Restructured Bonds, Series 2022-A-1, 5.25% 7/1/2023 |  | 2495 | 2507 |
| G.O. Restructured Bonds, Series 2022-A-1, 5.375% 7/1/2025 |  | 4790 | 4903 |
| G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027 |  | 4746 | 4977 |
| G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2029 |  | 4669 | 4972 |
| G.O. Restructured Bonds, Series 2022-A-1, 5.75% 7/1/2031 |  | 4535 | 4929 |
| G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033 |  | 14433 | 13529 |
| G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2035 |  | 7571 | 6896 |
| G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037 |  | 15538 | 13793 |
| G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041 |  | 25208 | 21758 |
| G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2046 |  | 48563 | 40666 |
| G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2024 |  | 1436 | 1345 |
| G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2033 |  | 5535 | 3213 |
| G.O. Taxable Bonds, Capital Appreciation Bonds, Series 2022, 0% 11/1/2043 |  | 37547 | 16615 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 10/1/2031 |  | 1700 | 1703 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.00% 10/1/2023 |  | 960 | 960 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.00% 10/1/2024 |  | 325 | 325 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.00% 10/1/2026 |  | 825 | 825 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.125% 10/1/2027 |  | 995 | 996 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 4.375% 10/1/2031 |  | 1525 | 1527 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (University of the Sacred Heart Project), Series 2012, 5.00% 10/1/2042 |  | 1650 | 1654 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2023 |  | 1600 | 1619 |

---

<br> 278 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Puerto Rico (continued)** |  |  |  |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2004, National insured, 4.25% 10/1/2024 | USD | 550 | $551 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2024 |  | 1700 | 1751 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2025 |  | 1800 | 1890 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2026 |  | 1900 | 2033 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2027 |  | 1900 | 2068 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2028 |  | 2000 | 2212 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2004, National insured, 4.50% 10/1/2029 |  | 2230 | 2235 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2034 |  | 2200 | 2441 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. Bonds (Inter American University of Puerto Rico Project), Series 2019, 5.00% 10/1/2044 |  | 2500 | 2680 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 5.00% 7/1/2031 |  | 570 | 650 |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Hospital Rev. and Rev. Ref. Bonds (Hospital Auxilio Mutuo Obligated Group Project), Series 2021, 4.00% 7/1/2038 |  | 550 | 516 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Capital Appreciation Bonds, Series 2007-A, Class 2, AMBAC insured, 0% 8/1/2047<sup>3</sup> |  | 3513 | 969 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Capital Appreciation Bonds, Series 2007-A, Class 2, AMBAC insured, 0% 8/1/2054<sup>3</sup> |  | 22487 | 4700 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Bonds, Capital Appreciation Bonds, Series 2019, Class 2, 0% 8/1/2054<sup>3</sup> |  | 84 | 18 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 37913 | 36390 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 4250 | 4079 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.784% 7/1/2058 |  | 6530 | 6245 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2018-A-1, 5.00% 7/1/2058 |  | 22477 | 22202 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2024 |  | 207 | 195 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2029 |  | 498 | 373 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2031 |  | 641 | 433 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2033 |  | 149 | 90 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2046 |  | 414040 | 114216 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2051 |  | 35684 | 7459 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2023 |  | 1000 | 998 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2024 |  | 875 | 868 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2025 |  | 675 | 667 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2026 |  | 520 | 511 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2030 |  | 1269 | 1232 |
| University of Puerto Rico, University System Rev. Bonds, Series 2006-Q, 5.00% 6/1/2036 |  | 5185 | 4989 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2023 |  | 5710 | 5697 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2024 |  | 4660 | 4625 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, National insured, 5.00% 6/1/2024 |  | 50 | 50 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2025 |  | 470 | 464 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, National insured, 5.00% 6/1/2025 |  | 105 | 105 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2026 |  | 1450 | 1426 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2030 |  | 8370 | 8124 |
|  |  |  | **632347** |

---

<br> American Funds Tax-Exempt Funds 279

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Rhode Island 0.42%** |  |  |  |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2030 | USD | 500 | $536 |
| Commerce Corp., Airport Rev. Bonds, Series 2016-D, 5.00% 7/1/2041 |  | 500 | 518 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, 4.00% 10/1/2046 |  | 270 | 266 |
| Health and Educational Building Corp., Educational Institution Rev. Bonds (St. George's School Issue), Series 2021, 4.00% 10/1/2051 |  | 740 | 718 |
| Health and Educational Building Corp., Hospital Fncg. Rev. Ref. Bonds (Lifespan Obligated Group Issue), Series 2016, 5.00% 5/15/2034 |  | 3150 | 3248 |
| Housing and Mortgage Fin. Corp., Homeownership Opportunity Bonds, Series 68-C, AMT, 3.50% 4/1/2039 |  | 350 | 349 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 12/1/2029 |  | 330 | 370 |
| Student Loan Auth., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.25% 12/1/2039 |  | 11590 | 10163 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2018-A, AMT, 3.50% 12/1/2034 |  | 3745 | 3683 |
| Student Loan Auth., Student Loan Program Rev. Bonds, Series 2019-A, AMT, 2.875% 12/1/2035 |  | 2125 | 2080 |
| Tobacco Settlement Fin. Corp., Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2007-A, 0% 6/1/2052 |  | 138210 | 23054 |
|  |  |  | **44985** |
| **South Carolina 0.80%** |  |  |  |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2011-A-1, 0% 1/1/2032 |  | 9877 | 5528 |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2011-A-1, 0% 1/1/2042 |  | 74499 | 20166 |
| Connector 2000 Assn., Inc., Toll Road Rev. Bonds, Capital Appreciation Bonds, Series 2011-A-1, 0% 7/22/2051 |  | 1025 | 130 |
| Housing Fin. and Dev. Auth., Mortgage Rev. Bonds, Series 2016-B-2, AMT, 4.00% 7/1/2043 |  | 885 | 886 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Bishop Gadsden Episcopal Retirement Community), Series 2019-A, 5.00% 4/1/2054 |  | 2500 | 2270 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Custodial Receipts), Series 2018, 5.00% 8/15/2041 (preref. 8/15/2026)<sup>1,2</sup> |  | 12495 | 13597 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Woodlands at Furman), Series 2020-A, 5.00% 11/15/2042 |  | 1745 | 1632 |
| Jobs-Econ. Dev. Auth., Econ. Dev. Rev. Bonds (Woodlands at Furman), Series 2020-A, 5.00% 11/15/2054 |  | 1155 | 1018 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Ref. Bonds (Green Charter School), Series 2021-A, 4.00% 6/1/2036<sup>2</sup> |  | 1000 | 876 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Ref. Bonds (Green Charter School), Series 2021-A, 4.00% 6/1/2046<sup>2</sup> |  | 1150 | 894 |
| Jobs-Econ. Dev. Auth., Educational Facs. Rev. Ref. Bonds (Green Charter School), Series 2021-A, 4.00% 6/1/2056<sup>2</sup> |  | 2955 | 2140 |
| Jobs-Econ. Dev. Auth., First Mortgage Health Care Facs. Rev. Ref. Bonds (The Lutheran Homes of South Carolina, Inc.), Series 2017, 5.00% 5/1/2042 |  | 1855 | 1595 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2036<sup>2</sup> |  | 2000 | 1935 |
| Jobs-Econ. Dev. Auth., Health Facs. Rev. Ref. Bonds (Wesley Commons), Series 2016, 5.00% 10/1/2041<sup>2</sup> |  | 6000 | 5626 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Bonds (Episcopal Home Still Hopes), Series 2017, 5.00% 4/1/2052 |  | 2530 | 2076 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Ref. Bonds (Episcopal Home Still Hopes), Series 2018-A, 5.00% 4/1/2032 |  | 2135 | 2031 |
| Jobs-Econ. Dev. Auth., Residential Facs. Rev. Ref. Bonds (Episcopal Home Still Hopes), Series 2018-A, 5.00% 4/1/2038 |  | 2400 | 2156 |
| Patriots Energy Group Fncg. Agcy., Gas Supply Rev. Bonds, Series 2018-A, 4.00% 10/1/2048 (put 2/1/2024) |  | 2500 | 2516 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2035 |  | 250 | 261 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2041 |  | 8850 | 9111 |
| Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 12/1/2056 |  | 45 | 46 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-A, 5.00% 12/1/2029 |  | 15 | 16 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 12/1/2031 |  | 2010 | 2141 |
| Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2015-A, 5.00% 12/1/2034 |  | 3250 | 3393 |
| County of Richland, The Village at Sandhill Improvement Dist., Rev. Ref. Assessment Bonds, Series 2021, 3.00% 11/1/2026<sup>2</sup> |  | 715 | 659 |
| County of Richland, The Village at Sandhill Improvement Dist., Rev. Ref. Assessment Bonds, Series 2021, 3.625% 11/1/2031<sup>2</sup> |  | 1000 | 851 |
| County of Richland, The Village at Sandhill Improvement Dist., Rev. Ref. Assessment Bonds, Series 2021, 3.75% 11/1/2036<sup>2</sup> |  | 1270 | 1014 |
|  |  |  | **84564** |
| **South Dakota 0.04%** |  |  |  |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2014-A, AMT, 4.00% 11/1/2044 |  | 285 | 285 |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2021-B, 3.00% 11/1/2051 |  | 3685 | 3629 |
|  |  |  | **3914** |

---

280 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Tennessee 0.37%** |  |  |  |
| City of Chattanooga, Health, Educational and Housing Fac. Board, Rev. Bonds (CommonSpirit Health), Series 2019-A-1, 3.25% 8/1/2044 | USD | 1200 | $963 |
| Chattanooga-Hamilton County Hospital Auth., Hospital Rev. Ref. Bonds (Erlanger Health System), Series 2014, 5.00% 10/1/2039 |  | 2815 | 2850 |
| Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2014-2-A, AMT, 4.00% 7/1/2045 |  | 265 | 265 |
| Metropolitan Dev. and Housing Agcy., Tennessee Tax Increment Rev. Bonds (Fifth & Broadway Dev. Project), Series 2018, 5.125% 6/1/2036<sup>2</sup> |  | 750 | 767 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.50% 7/1/2042 |  | 1000 | 1121 |
| Metropolitan Nashville Airport Auth., Airport Improvement Rev. Bonds, Series 2022-B, AMT, 5.00% 7/1/2052 |  | 1750 | 1844 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Facs. Rev. Bonds (Waste Management, Inc. of Tennessee Project), Series 2001, AMT, 0.58% 8/1/2031 (put 8/1/2024) |  | 700 | 665 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Special Assessment Rev. Bonds (South Nashville Central Business Improvement Dist.), Series 2021-A, 4.00% 6/1/2051<sup>2</sup> |  | 1460 | 1191 |
| Metropolitan Government of Nashville and Davidson County, Industrial Dev. Board, Special Assessment Rev. Bonds (South Nashville Central Business Improvement Dist.), Capital Appreciation Bonds, Series 2021-B, 0% 6/1/2043<sup>2</sup> |  | 2950 | 966 |
| County of Shelby, Health, Educational and Housing Fac. Board, Rev. Bonds (Farms at Bailey Station), Series 2019-A, 5.75% 10/1/2059 |  | 4000 | 2799 |
| Tennessee Energy Acquisition Corp., Commodity Project Rev. Bonds, Series 2021-A, 5.00% 5/1/2052 (put 11/1/2031) |  | 11720 | 12576 |
| Tennessee Energy Acquisition Corp., Gas Project Rev. Bonds, Series 2023-A-1, 5.00% 5/1/2053 (put 5/1/2028) |  | 12135 | 12697 |
|  |  |  | **38704** |
| **Texas 5.68%** |  |  |  |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), Series 2021-A, 4.125% 2/15/2041 |  | 3325 | 2607 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), Series 2021-A, 4.375% 2/15/2051 |  | 7290 | 5370 |
| Arlington Higher Education Fin. Corp., Education Rev. and Rev. Ref. Bonds (Legacy Traditional Schools - Texas Project), Series 2021-A, 4.50% 2/15/2056 |  | 3000 | 2179 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 4.00% 8/15/2035 |  | 1500 | 1552 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (KIPP Texas, Inc.), Series 2019, 4.00% 8/15/2036 |  | 1690 | 1723 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Legacy Traditional Schools - Texas Project), Series 2022-A, 6.50% 2/15/2057<sup>2</sup> |  | 2000 | 1992 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Legacy Traditional Schools - Texas Project), Series 2022-A, 6.75% 2/15/2062<sup>2</sup> |  | 8000 | 8053 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Newman International Academy), Series 2021-A, 5.00% 8/15/2041 |  | 600 | 567 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Newman International Academy), Series 2021-A, 5.00% 8/15/2051 |  | 1150 | 1039 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (TGP Public Schools - The Gathering Place), Series 2022-A, 5.625% 8/15/2052 |  | 4000 | 3778 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (TGP Public Schools - The Gathering Place), Series 2022-A, 5.75% 8/15/2057 |  | 3500 | 3310 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (TGP Public Schools - The Gathering Place), Series 2022-A, 5.75% 8/15/2062 |  | 1000 | 930 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% 8/15/2038 |  | 1000 | 978 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% 8/15/2048 |  | 2685 | 2498 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (UME Preparatory Academy), Series 2017-A, 5.00% 8/15/2053 |  | 1375 | 1262 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 2.75% 12/1/2026 |  | 1380 | 1347 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2036 |  | 3370 | 3481 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2046 |  | 3745 | 3806 |
| Arlington Higher Education Fin. Corp., Education Rev. Bonds (Uplift Education), Series 2016-A, 5.00% 12/1/2051 |  | 4100 | 4155 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (BASIS Texas Charter Schools, Inc.), Series 2021-A, 4.50% 6/15/2056 (put 6/15/2026) |  | 2500 | 2422 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2036 |  | 1160 | 1026 |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2041 |  | 1830 | 1542 |

---

American Funds Tax-Exempt Funds 281

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount (000) | Principal amount (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Arlington Higher Education Fin. Corp., Education Rev. Ref. Bonds (Wayside Schools), Series 2021-A, 4.00% 8/15/2046 | USD | 1885 | $1519 |
| City of Arlington, Special Tax Rev. Bonds, Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2/15/2043 |  | 825 | 875 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-A, 4.00% 10/1/2050 |  | 2875 | 2443 |
| City of Baytown, Municipal Dev. Dist., Hotel Rev. Bonds (Baytown Convention Center Hotel), Series 2021-B, 5.00% 10/1/2050<sup>2</sup> |  | 4155 | 3613 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC Project), Series 2022, AMT, 10.00% 6/1/2042<sup>2,3</sup> |  | 22000 | 21651 |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Gladieux Metals Recycling, LLC Project), Series 2020, 8.50% 3/1/2039<sup>2</sup> |  | 24990 | 23005 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2020-1-A, AMT, 2.35% 4/1/2040 |  | 85 | 85 |
| Brazos Higher Education Auth., Inc., Student Loan Program Rev. Bonds, Series 2020-1-B, AMT, 3.00% 4/1/2040 |  | 1800 | 1434 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2016-B, 5.00% 8/15/2028 |  | 500 | 535 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2012, 5.00% 8/15/2032 |  | 2400 | 2404 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Idea Public Schools), Series 2013, 6.00% 8/15/2033 |  | 1000 | 1017 |
| Clifton Higher Education Fin. Corp., Education Rev. Bonds (Vanguard Academy, Inc.), Series 2021, 3.00% 8/15/2046 |  | 7000 | 5561 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-A, 2.50% 10/1/2031 |  | 285 | 246 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-B, 3.50% 10/1/2031<sup>2</sup> |  | 790 | 689 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-A, 4.00% 10/1/2050 |  | 5425 | 4554 |
| Conroe Local Government Corp., Hotel Rev. Bonds (Conroe Convention Center Hotel), Series 2021-B, 5.00% 10/1/2050<sup>2</sup> |  | 6930 | 5910 |
| City of Crandall, Special Assessment Rev. Bonds (Cartwright Ranch Public Improvement Dist. Improvement Area No. 1 Project), Series 2021, 4.50% 9/15/2051<sup>2</sup> |  | 1000 | 874 |
| City of Crandall, Special Assessment Rev. Bonds (Cartwright Ranch Public Improvement Dist. Major Improvement Area Project), Series 2021, 5.25% 9/15/2051<sup>2</sup> |  | 500 | 480 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-A, 4.75% 5/1/2038 |  | 4500 | 4500 |
| Fort Bend County Industrial Dev. Corp., Industrial Dev. Rev. Bonds (NRG Energy, Inc. Project), Series 2012-B, 4.75% 11/1/2042 |  | 4000 | 4000 |
| Gulf Coast Industrial Dev. Auth., Solid Waste Disposal Rev. Bonds (CITGO Petroleum Corp. Project), Series 1995, AMT, 4.875% 5/1/2025 |  | 9540 | 9543 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 11/15/2053 |  | 1000 | 1012 |
| County of Harris, Sports Auth., Rev. Ref. Bonds, Series 2020-A, Assured Guaranty Municipal insured, 3.125% 11/15/2056 |  | 5000 | 3887 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), Series 2016, 5.00% 1/1/2037 |  | 2960 | 2755 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), Series 2013-A, 5.00% 1/1/2043 |  | 1270 | 1136 |
| Harris County Cultural Education Facs. Fin. Corp., First Mortgage Rev. Bonds (Brazos Presbyterian Homes, Inc. Project), Series 2016, 5.00% 1/1/2048 |  | 23205 | 20142 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Young Men's Christian Assn. of the Greater Houston Area), Series 2013-A, 5.00% 6/1/2033 |  | 1400 | 1330 |
| Harris County Cultural Education Facs. Fin. Corp., Rev. Ref. Bonds (Young Men's Christian Assn. of the Greater Houston Area), Series 2013-A, 5.00% 6/1/2038 |  | 3500 | 3191 |
| Dept. of Housing and Community Affairs, Single Family Mortgage Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 3300 | 3245 |
| Housing Options, Inc., Multi Family Housing Rev. Bonds (Brooks Manor - The Oaks Project), Series 2021, 0.50% 8/1/2041 (put 3/1/2025) |  | 835 | 774 |
| City of Houston, Airport System Facs. Rev. and Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2015-B-1, AMT, 5.00% 7/15/2035 |  | 1000 | 1003 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2021-A, AMT, 4.00% 7/1/2041 |  | 14515 | 13083 |
| City of Houston, Airport System Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2021-B-1, AMT, 4.00% 7/15/2041 |  | 48420 | 43639 |
| City of Houston, Airport System Special Facs. Rev. Bonds (Continental Airlines, Inc. Terminal Improvement Projects), Series 2011, AMT, 6.50% 7/15/2030 |  | 12500 | 12510 |
| City of Houston, Airport System Special Facs. Rev. Bonds (Continental Airlines, Inc. Terminal Improvement Projects), Series 2011, AMT, 6.625% 7/15/2038 |  | 3000 | 3002 |

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282 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Texas (continued)** |  |  |  |
| City of Houston, Airport System Special Facs. Rev. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2018-C, AMT, 5.00% 7/15/2028 | USD | 11000 | $11372 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal E Project), Series 2014, AMT, 4.75% 7/1/2024 |  | 5600 | 5609 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal E Project), Series 2014, AMT, 5.00% 7/1/2029 |  | 6125 | 6190 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2020-A, AMT, 5.00% 7/1/2027 |  | 1500 | 1542 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2020-B-2, AMT, 5.00% 7/15/2027 |  | 2500 | 2570 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2020-C, AMT, 5.00% 7/15/2027 |  | 8700 | 8943 |
| City of Houston, Airport System Special Facs. Rev. Ref. Bonds (United Airlines, Inc. Terminal Improvement Projects), Series 2015-B-1, AMT, 5.00% 7/15/2030 |  | 5250 | 5344 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 3.00% 9/1/2032 |  | 500 | 499 |
| City of Houston, Convention and Entertainment Facs. Dept., Hotel Occupancy Tax and Special Rev. Ref. Bonds, Series 2021, 3.00% 9/1/2033 |  | 310 | 308 |
| Houston Independent School Dist., Limited Tax Schoolhouse Rev. Ref. Bonds, Series 2016-A, 5.00% 2/15/2023 |  | 1205 | 1206 |
| City of Irving, Hospital Auth., Hospital Rev. Bonds (Baylor Scott & White Medical Center - Irving), Series 2017-A, 5.00% 10/15/2033 |  | 1000 | 1054 |
| City of Irving, Hospital Auth., Hospital Rev. Bonds (Baylor Scott & White Medical Center - Irving), Series 2017-A, 5.00% 10/15/2044 |  | 1000 | 1010 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2024 |  | 1000 | 1031 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2025 |  | 1000 | 1047 |
| City of Kerrville Health Facs. Dev. Corp., Hospital Rev. Bonds (Peterson Regional Medical Center Project), Series 2015, 5.00% 8/15/2030 |  | 3450 | 3597 |
| Lamar Consolidated Independent School Dist., Unlimited Tax Schoolhouse Rev. Ref. Bonds, Series 2021-A, 5.00% 2/15/2023 |  | 445 | 445 |
| Town of Little Elm, Spiritas Ranch Public Improvement Dist., Special Assessment Rev. Bonds, Series 2021, 5.375% 9/1/2051<sup>2</sup> |  | 23000 | 22718 |
| County of Matagorda, Navigation Dist. No. 1, Pollution Control Rev. Ref. Bonds (AEP Texas Central Co. Project), Series 2005-A, AMBAC insured, 4.40% 5/1/2030 |  | 4570 | 4837 |
| County of Matagorda, Navigation Dist. No. 1, Rev. Ref. Bonds (Houston Lighting & Power Co. Project), Series 1997, AMT, AMBAC insured, 5.125% 11/1/2028 |  | 1945 | 2123 |
| County of Maverick, Limited Tax Rev. Ref. Bonds, Series 2016, 7.00% 3/1/2034 (preref. 3/1/2023) |  | 2680 | 2689 |
| Mission Econ. Dev. Corp., Rev. Bonds (Natgasoline Project), Series 2018, AMT, 4.625% 10/1/2031<sup>2</sup> |  | 2195 | 2185 |
| County of Montgomery, Toll Road Auth., Toll Road Rev. Bonds, Series 2018, 5.00% 9/15/2043 |  | 1695 | 1710 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-B, (SIFMA Municipal Swap Index + 0.55%) 2.21% 9/15/2027<sup>3</sup> |  | 1890 | 1845 |
| Municipal Gas Acquisition and Supply Corp. II, Gas Supply Rev. Bonds, Series 2007-A, (3-month USD-LIBOR x 0.66 + 0.69%) 3.837% 9/15/2027<sup>3</sup> |  | 13150 | 13027 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2027 |  | 2730 | 2885 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2029 |  | 2570 | 2733 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2030 |  | 3500 | 3736 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2031 |  | 2210 | 2366 |
| Municipal Gas Acquisition and Supply Corp. III, Gas Supply Rev. Ref. Bonds, Series 2021, 5.00% 12/15/2032 |  | 2355 | 2529 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2041<sup>2</sup> |  | 2080 | 1770 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2046<sup>2</sup> |  | 1610 | 1299 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2051<sup>2</sup> |  | 4245 | 3298 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. and Rev. Ref. Bonds (Junilee Academic Center), Series 2021, 4.00% 8/15/2056<sup>2</sup> |  | 3510 | 2635 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 3.375% 8/15/2029<sup>2</sup> |  | 510 | 469 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 5.00% 8/15/2039<sup>2</sup> |  | 1020 | 1013 |
| New Hope Cultural Education Facs. Fin. Corp., Education Rev. Bonds (Beta Foundation), Series 2019-A, 5.00% 8/15/2049<sup>2</sup> |  | 2290 | 2155 |

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American Funds Tax-Exempt Funds 283

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2020-A, 5.00% 4/1/2030 | USD | 1000 | $974 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2020-A, 5.00% 1/1/2035 |  | 500 | 472 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2022, 4.00% 1/1/2037 |  | 1250 | 1024 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2020-A, 5.00% 1/1/2040 |  | 790 | 722 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2022, 4.00% 1/1/2042 |  | 1825 | 1410 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Morningside Ministries Project), Series 2020-A, 5.00% 1/1/2055 |  | 6100 | 5176 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (MRC Crestview Project), Series 2016, 5.00% 11/15/2036 (preref. 11/15/2024) |  | 150 | 159 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (MRC Crestview Project), Series 2016, 5.00% 11/15/2046 (preref. 11/15/2024) |  | 4350 | 4615 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), Series 2019, 5.00% 1/1/2050 |  | 1180 | 916 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), Series 2019, 5.00% 1/1/2055 |  | 5500 | 4181 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Obligated Group), Series 2019, 5.00% 1/1/2039 |  | 1000 | 847 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, 5.50% 1/1/2035 |  | 100 | 94 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, 5.50% 1/1/2043 |  | 3700 | 3266 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Wesleyan Homes, Inc. Project), Series 2014, 5.50% 1/1/2049 |  | 8430 | 7229 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2031 |  | 1410 | 1428 |
| New Hope Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Westminster Project), Series 2016, 5.00% 11/1/2040 |  | 4900 | 4913 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), Series 2021, 4.00% 1/1/2031 |  | 1680 | 1517 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), Series 2021, 4.00% 1/1/2036 |  | 1755 | 1482 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living Rev. Bonds (Wichita Falls Retirement Foundation Project), Series 2021, 4.00% 1/1/2041 |  | 1750 | 1392 |
| New Hope Cultural Education Facs. Fin. Corp., Senior Living. Rev. Bonds (Sanctuary LTC Project), Series 2021, 5.50% 1/1/2057 |  | 5000 | 3738 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Corpus Christi II, LLC - Texas A&M University-Corpus Christi Project), Series 2016-A, 5.00% 4/1/2036 (preref. 4/1/2026) |  | 2030 | 2194 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Island Campus, LLC - Texas A&M University-Corpus Christi Island Campus Project), Series 2017-A, 5.00% 4/1/2032 (preref. 4/1/2027) |  | 855 | 945 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Island Campus, LLC - Texas A&M University-Corpus Christi Island Campus Project), Series 2017-A, 5.00% 4/1/2037 (preref. 4/1/2027) |  | 2810 | 3107 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Island Campus, LLC - Texas A&M University-Corpus Christi Island Campus Project), Series 2017-A, 5.00% 4/1/2042 (preref. 4/1/2027) |  | 7405 | 8187 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Stephenville II, LLC - Tarleton State University Project), Series 2014-A, 5.00% 4/1/2039 |  | 1125 | 1157 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (CHF-Collegiate Housing Stephenville III, LLC - Tarleton State University Project), Series 2015-A, 5.00% 4/1/2035 (preref. 4/1/2025) |  | 1000 | 1051 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (NCCD-Brenham Properties, LLC - Blinn College Project), Series 2020-A, 5.00% 7/1/2040 |  | 1300 | 1208 |
| New Hope Cultural Education Facs. Fin. Corp., Student Housing Rev. Bonds (NCCD-Brenham Properties, LLC - Blinn College Project), Series 2020-A, 5.00% 7/1/2057 |  | 4460 | 3842 |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2041 |  | 1685 | 1420 |

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284 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Texas (continued)** |  |  |  |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2051 | USD | 2300 | $1794 |
| Newark Higher Education Fin. Corp., Education Rev. Bonds (TLC Academy), Series 2021-A, 4.00% 8/15/2056 |  | 2250 | 1707 |
| Newark Higher Education Fin. Corp., Rev. Improvement and Rev. Ref. Bonds (Abilene Christian University Project), Series 2022-A, 4.00% 4/1/2057 |  | 2315 | 2126 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. 2), Series 2022, 5.50% 9/15/2032<sup>2</sup> |  | 4880 | 4840 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. 2), Series 2022, 5.625% 9/15/2042<sup>2</sup> |  | 9985 | 9833 |
| North Parkway Municipal Management Dist. No. 1, Special Assessment Rev. Bonds (Major Improvements Project No. 2), Series 2022, 5.75% 9/15/2052<sup>2</sup> |  | 17360 | 16787 |
| North Texas Tollway Auth., System Rev. and Rev. Ref. Bonds, Series 2017-A, 5.00% 1/1/2039 |  | 8000 | 8605 |
| North Texas Tollway Auth., System Rev. Ref. Bonds, Series 2015-A, 5.00% 1/1/2034 |  | 2000 | 2084 |
| North Texas Tollway Auth., System Rev. Ref. First Tier Bonds, Series 2020-A, 3.00% 1/1/2038 |  | 3000 | 2630 |
| City of Plano, Special Assessment Rev. Bonds (Collin Creek West Public Improvement Dist. Project), Series 2021, 4.00% 9/15/2051<sup>2</sup> |  | 5500 | 4494 |
| City of Plano, Special Assessment Rev. Bonds (Collin Creek West Public Improvement Dist. Project), Series 2021, 4.375% 9/15/2051<sup>2</sup> |  | 14000 | 11733 |
| Red River Education Fin. Corp., Higher Education Rev. Bonds (St. Edward's University Project), Series 2016, 4.00% 6/1/2036 |  | 500 | 489 |
| City of Sanger Industrial Dev. Corp., Industrial Dev. Rev. Ref. Bonds (Texas Pellets Project), Series 2012-B, AMT, 8.00% 7/1/2038<sup>6</sup> |  | 3110 | 778 |
| Surface Transportation Corp., Private Activity Rev. Bonds (NTE Mobility Partners Segments 3 LLC Segment 3C Project), Series 2019, AMT, 5.00% 6/30/2058 |  | 9805 | 9939 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2037 |  | 1500 | 1478 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2038 |  | 2375 | 2319 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 6/30/2039 |  | 455 | 441 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 12/31/2039 |  | 750 | 727 |
| Surface Transportation Corp., Rev. Ref. Bonds (LBJ Infrastructure Group, LLC I-635 Managed Lanes Project), Series 2020-A, 4.00% 6/30/2040 |  | 335 | 322 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), Series 2016, 4.00% 5/15/2027 |  | 9615 | 9237 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), Series 2016, 4.00% 5/15/2031 |  | 5500 | 5049 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), Series 2016, 5.00% 5/15/2037 |  | 6150 | 5796 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Air Force Villages Obligated Group), Series 2016, 5.00% 5/15/2045 |  | 14005 | 12373 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. - Querencia Project), Series 2015, 5.00% 11/15/2035 |  | 200 | 199 |
| Tarrant County Cultural Education Facs. Fin. Corp., Retirement Fac. Rev. Bonds (Barton Creek Senior Living Center, Inc. - Querencia Project), Series 2015, 5.00% 11/15/2040 |  | 1655 | 1609 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2032 |  | 5000 | 5148 |
| Transportation Commission, Central Texas Turnpike System Rev. Ref. Bonds, Series 2015-C, 5.00% 8/15/2037 |  | 5000 | 5106 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2041 |  | 430 | 169 |
| Transportation Commission, State Highway 249 System First Tier Toll Rev. Bonds, Capital Appreciation Bonds, Series 2019-A, 0% 8/1/2042 |  | 2370 | 882 |
| Turnpike Auth., Central Texas Turnpike System, Rev. Bonds, Capital Appreciation Bonds, Series 2002-A, AMBAC insured, 0% 8/15/2028 |  | 17800 | 15180 |
|  |  |  | **603593** |
| **United States 0.13%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class AUS, 3.40% 1/25/2036 |  | 2033 | 1929 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-06, Class XUS, interest only, 1.132% 6/25/2037<sup>3,4</sup> |  | 60096 | 5270 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2021-ML-10, Class XUS, 2.057% 1/25/2038<sup>2,3</sup> |  | 27814 | 4638 |
| Freddie Mac, Multi Family Mortgage Green Bonds, Series 2021-ML-10, Class AUS, 2.032% 1/25/2038<sup>2</sup> |  | 2617 | 2037 |
|  |  |  | **13874** |

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American Funds Tax-Exempt Funds 285

American High-Income Municipal Bond Fund (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value <br> (000) |
| **Utah 1.32%** |  |  |  |
| Charter School Fin. Auth., Charter School Rev. Bonds (Bridge Elementary Project), Series 2021-A, 4.00% 6/15/2041<sup>2</sup> | USD | 895 | $708 |
| Charter School Fin. Auth., Charter School Rev. Bonds (Bridge Elementary Project), Series 2021-A, 4.25% 6/15/2051<sup>2</sup> |  | 1315 | 986 |
| Charter School Fin. Auth., Charter School Rev. Ref. Bonds (Early Light Academy), Series 2017, 5.00% 7/15/2046<sup>2</sup> |  | 7405 | 6929 |
| Hideout Local Dist. No. 1, Special Assessment Bonds, Series 2017, 6.75% 8/1/2037<sup>2</sup> |  | 24480 | 22401 |
| Hurricane City, Gateway at Sand Hollow Public Infrastructure Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A, 5.50% 3/1/2051<sup>2,5</sup> |  | 15000 | 10788 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area No. 2), Series 2021, 4.00% 8/1/2050<sup>2</sup> |  | 31500 | 23581 |
| MIDA Mountain Village Public Infrastructure Dist., Special Assessment Rev. Bonds (Mountain Village Assessment Area), Series 2020-A, 5.00% 8/1/2050<sup>2</sup> |  | 7250 | 6626 |
| Military Installation Dev. Auth., Tax Allocation and Hotel Tax Rev. Bonds, Series 2021-A-1, 4.00% 6/1/2052 |  | 2080 | 1603 |
| Military Installation Dev. Auth., Tax Allocation Rev. Bonds, Series 2021-A-2, 4.00% 6/1/2041 |  | 4170 | 3435 |
| Payson City, Red Bridge Public Infrastructure Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A, 3.625% 2/1/2035<sup>2</sup> |  | 600 | 496 |
| Payson City, Red Bridge Public Infrastructure Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A, 4.125% 2/1/2041<sup>2</sup> |  | 1000 | 794 |
| Payson City, Red Bridge Public Infrastructure Dist. No. 1, Limited Tax G.O. Bonds, Series 2021-A, 4.375% 2/1/2051<sup>2</sup> |  | 2120 | 1630 |
| Salt Lake City, Airport Rev. Bonds (Salt Lake City International Airport), Series 2021-A, AMT, 5.00% 7/1/2046 |  | 1775 | 1876 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.125% 6/1/2041<sup>2</sup> |  | 9400 | 8316 |
| UIPA Crossroads Public Infrastructure Dist., Tax Differential Rev. Bonds, Series 2021, 4.375% 6/1/2052<sup>2</sup> |  | 57810 | 50541 |
|  |  |  | **140710** |
| **Vermont 0.24%** |  |  |  |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2021-A, 4.00% 5/1/2037 |  | 3940 | 3269 |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2021-A, 4.00% 5/1/2045 |  | 2850 | 2149 |
| Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project), Series 2017-A, 5.00% 5/1/2047 |  | 235 | 211 |
| Econ. Dev. Auth., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2013, AMT, 4.625% 4/1/2036 (put 4/3/2028)<sup>2</sup> |  | 2400 | 2371 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2021-A, 2.50% 8/15/2046 |  | 1000 | 715 |
| Housing Fin. Agcy., Multi Family Mortgage Bonds, Series 2022-A, 2.85% 2/15/2052 |  | 1000 | 731 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 5.00% 6/15/2025 |  | 300 | 313 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 5.00% 6/15/2026 |  | 500 | 531 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2026 |  | 125 | 133 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 5.00% 6/15/2027 |  | 300 | 318 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 5.00% 6/15/2028 |  | 500 | 519 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 3.625% 6/15/2029 |  | 400 | 398 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2017-A, AMT, 4.00% 6/15/2029 |  | 1095 | 1070 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 3.75% 6/15/2030 |  | 320 | 318 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2030 |  | 550 | 605 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2022-A, AMT, 5.00% 6/15/2030 |  | 1105 | 1201 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.00% 6/15/2031 |  | 205 | 204 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 5.00% 6/15/2031 |  | 550 | 609 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.00% 6/15/2032 |  | 160 | 160 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2019-A, AMT, 3.00% 6/15/2035 |  | 3905 | 3665 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2021-A, AMT, 2.375% 6/15/2039 |  | 3255 | 2905 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2018-A, AMT, 4.375% 6/15/2046 |  | 1850 | 1652 |
| Student Assistance Corp., Education Loan Rev. Bonds, Series 2019-B, AMT, 4.00% 6/15/2047 |  | 2150 | 1831 |
|  |  |  | **25878** |
| **Virgin Islands 0.27%** |  |  |  |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2025 |  | 1825 | 1872 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2028 |  | 1645 | 1721 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2030 |  | 3500 | 3649 |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2039 |  | 10815 | 10831 |

---

286 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Virgin Islands (continued)** |  |  |  |
| Public Fin. Auth., Rev. and Rev. Ref. Bonds (Virgin Islands Gross Receipts Taxes Loan Note), Series 2014-C, 5.00% 10/1/2039<sup>2</sup> | USD | 4250 | $3422 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-A, 6.125% 10/1/2042<sup>2</sup> |  | 1470 | 1421 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-B, AMT, 6.25% 10/1/2042<sup>2</sup> |  | 2350 | 2313 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-A, 6.375% 4/1/2052<sup>2</sup> |  | 2535 | 2444 |
| West Indian Co., Limited Port Facs. Rev. Bonds, Series 2022-B, AMT, 6.50% 4/1/2052<sup>2</sup> |  | 1245 | 1211 |
|  |  |  | **28884** |
| **Virginia 2.44%** |  |  |  |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-A, 4.00% 6/1/2034 |  | 1310 | 1237 |
| County of Albemarle, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of the Blue Ridge), Series 2022-A, 4.00% 6/1/2042 |  | 1230 | 1096 |
| City of Alexandria, Industrial Dev. Auth., Demand Rev. Ref. Bonds (Goodwin House), Series 2015, 5.00% 10/1/2045 (preref. 10/1/2025) |  | 3000 | 3217 |
| County of Amelia, Industrial Dev. Auth., Solid Waste Disposal Rev. and Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2002, AMT, 1.45% 4/1/2027 |  | 690 | 620 |
| County of Arlington, Industrial Dev. Auth., Hospital Rev. Bonds (Virginia Hospital Center), Series 2020, 4.00% 7/1/2045 |  | 1665 | 1674 |
| County of Botetourt, Industrial Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Glebe, Inc.), Series 2014-A, 6.00% 7/1/2044 |  | 4000 | 4078 |
| City of Chesapeake, Chesapeake Transportation System Toll Road Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2012-B, 0% 7/15/2040 (4.875% on 7/15/2023)<sup>1</sup> |  | 1500 | 1550 |
| County of Fairfax, Econ. Dev. Auth., Residential Care Facs. Mortgage Rev. Ref. Bonds (Goodwin House, Inc.), Series 2016-A, 5.00% 10/1/2036 (preref. 10/1/2024) |  | 1000 | 1057 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2031 |  | 1195 | 1252 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2038 |  | 3250 | 3315 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2040 |  | 3660 | 3718 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2043 |  | 3500 | 3523 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2048 |  | 4000 | 4000 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2050 |  | 13655 | 13594 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2018-A, 5.00% 1/1/2055 |  | 18805 | 18568 |
| Town of Farmville, Industrial Dev. Auth., Educational Facs. Rev. Ref. Bonds (Longwood University Student Housing Project), Series 2020-A, 5.00% 1/1/2059 |  | 21010 | 20529 |
| City of Hampton, Peninsula Town Center Community Dev. Auth., Special Obligation Rev. Ref. Bonds, Series 2018, 5.00% 9/1/2045<sup>2</sup> |  | 1090 | 962 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% 7/1/2025 |  | 1445 | 1422 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% 7/1/2028 |  | 1630 | 1542 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% 7/1/2031 |  | 625 | 566 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% 7/1/2040 |  | 6135 | 4975 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2022, 4.00% 7/1/2047 |  | 6510 | 4907 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2018, 5.00% 7/1/2048 |  | 1400 | 1330 |
| County of Hanover, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Covenant Woods), Series 2018, 5.00% 7/1/2051 |  | 5100 | 4812 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2034 |  | 1000 | 986 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2039 |  | 5970 | 5769 |

---

American Funds Tax-Exempt Funds 287

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2044 | USD | 2245 | $2116 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2049 |  | 4455 | 4129 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2019-A, 5.00% 6/1/2052 |  | 1970 | 1798 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2017-C, 5.00% 12/1/2037 |  | 1445 | 1457 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2017-C, 5.00% 12/1/2047 |  | 19325 | 18973 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2022-A, 5.00% 10/1/2047 |  | 810 | 864 |
| County of Henrico, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Westminster-Canterbury of Richmond), Series 2022-A, 5.00% 10/1/2052 |  | 1095 | 1155 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Windsormeade), Series 2021-A, 4.00% 6/1/2041 |  | 1265 | 1005 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Bonds (Windsormeade), Series 2021-A, 4.00% 6/1/2047 |  | 3200 | 2383 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, 4.00% 12/1/2035 |  | 2030 | 1793 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, 4.00% 12/1/2040 |  | 2965 | 2461 |
| County of James City, Econ. Dev. Auth., Residential Care Fac. Rev. Ref. Bonds (Williamsburg Landing), Series 2021-A, 4.00% 12/1/2050 |  | 8390 | 6288 |
| City of Lynchburg, Econ. Dev. Auth., Hospital Rev. and Rev. Ref. Bonds (Centra Health Obligated Group), Series 2021, 3.00% 1/1/2051 |  | 4925 | 3658 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, 3.50% 12/1/2029 |  | 1370 | 1286 |
| City of Newport News, Econ. Dev. Auth., Residential Care Facs. Rev. Ref. Bonds (LifeSpire of Virginia), Series 2016, 5.00% 12/1/2038 |  | 11645 | 11672 |
| City of Newport News, Industrial Dev. Auth., Health Systems Rev. Bonds, Series 2017-A, 5.00% 7/1/2046<sup>2</sup> |  | 9250 | 9415 |
| City of Newport News, Industrial Dev. Auth., Health Systems Rev. Ref. Bonds (Custodial Receipts), Series 2015, 5.33% 7/1/2045<sup>2</sup> |  | 27900 | 28411 |
| County of Prince William, Heritage Hunt Commercial Community Dev. Auth., Special Assessment Bonds, Series 1999-B, 7.00% 3/1/2029 |  | 250 | 250 |
| Small Business Fncg. Auth., Private Activity Rev. Bonds (Transform 66 P3 Project), Series 2017, AMT, 5.00% 12/31/2049 |  | 2000 | 2007 |
| Small Business Fncg. Auth., Private Activity Rev. Bonds (Transform 66 P3 Project), Series 2017, AMT, 5.00% 12/31/2052 |  | 6000 | 6009 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2032 |  | 1425 | 1441 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2037 |  | 4075 | 4102 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2042 |  | 3500 | 3505 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2047 |  | 4510 | 4453 |
| Small Business Fncg. Auth., Residential Care Fac. Rev. Bonds (Pinnacle Living), Series 2017-C, 5.00% 6/1/2052 |  | 8425 | 8247 |
| Small Business Fncg. Auth., Residential Care Facs. Rev. and Rev. Ref. Bonds (LifeSpire of Virginia), Series 2021, 4.00% 12/1/2051 |  | 3495 | 2819 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2031 |  | 1250 | 1373 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2032 |  | 1000 | 1095 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 5.00% 1/1/2034 |  | 1725 | 1880 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2045 |  | 4350 | 4021 |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 3.375% 1/1/2051 |  | 1420 | 1064 |

---

288 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Virginia (continued)** |  |  |  |
| Small Business Fncg. Auth., Rev. Bonds (National Senior Campuses, Inc. Obligated Group), Series 2020-A, 4.00% 1/1/2051 | USD | 6005 | $5361 |
| Small Business Fncg. Auth., Rev. Ref. Bonds (Elizabeth River Crossings Opco, LLC Project), Series 2022, AMT, 4.00% 1/1/2040 |  | 1000 | 961 |
| Small Business Fncg. Auth., Solid Waste Disposal Rev. Bonds (Covanta Project), Series 2018-C, AMT, 5.00% 1/1/2048 (put 7/1/2038)<sup>1,2</sup> |  | 2000 | 1917 |
|  |  |  | **259668** |
| **Washington 2.00%** |  |  |  |
| Central Puget Sound Regional Transit Auth., Sales Tax and Motor Vehicle Excise Tax Improvement and Rev. Ref. Green Bonds, Series 2021-S-1, 3.00% 11/1/2036 |  | 2500 | 2343 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2010-B, 5.00% 7/1/2048 |  | 1000 | 1012 |
| Convention Center Public Facs. Dist., Lodging Tax Bonds, Series 2018, 5.00% 7/1/2058 |  | 4000 | 4032 |
| Econ. Dev. Fin. Auth., Environmental Facs. Rev. Green Bonds (North Pacific Paper Co. Recycling Project), Series 2020-A, AMT, 5.625% 12/1/2040<sup>2</sup> |  | 9000 | 9002 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2032 |  | 1615 | 1712 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2034 |  | 1950 | 2038 |
| Health Care Facs. Auth., Rev. Bonds (Virginia Mason Medical Center), Series 2017, 5.00% 8/15/2035 |  | 1825 | 1887 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2036 |  | 2845 | 2908 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2041 |  | 6920 | 6925 |
| Health Care Facs. Auth., Rev. Bonds (Yakima Valley Memorial Hospital Assn.), Series 2016, 5.00% 12/1/2046 |  | 8750 | 8679 |
| Housing Fin. Commission, Multi Family Housing Rev. Bonds (HopeSource III Portfolio Projects), Series 2022, 1.25% 1/1/2025 (put 1/1/2024) |  | 2420 | 2368 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, Class X, interest only, 0.725% 12/20/2035<sup>4</sup> |  | 82335 | 4150 |
| Housing Fin. Commission, Municipal Certs., Series 2021-1, 3.50% 12/20/2035 |  | 27482 | 25919 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2031<sup>2</sup> |  | 1000 | 1022 |
| Housing Fin. Commission, Nonprofit Housing Rev. and Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2033<sup>2</sup> |  | 1185 | 1206 |
| Housing Fin. Commission, Nonprofit Housing Rev. Bonds (Rockwood Retirement Communities), Series 2020-A, 5.00% 1/1/2056<sup>2</sup> |  | 13670 | 10087 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Herons Key Senior Living), Series 2015-A, 6.50% 7/1/2030 (preref. 7/1/2025)<sup>2</sup> |  | 1700 | 1838 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Herons Key Senior Living), Series 2015-A, 6.75% 7/1/2035 (preref. 7/1/2025)<sup>2</sup> |  | 1630 | 1771 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2038<sup>2</sup> |  | 2350 | 2377 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2043<sup>2</sup> |  | 3100 | 3103 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Horizon House Project), Series 2017, 5.00% 1/1/2048<sup>2</sup> |  | 1770 | 1757 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Judson Park Project), Series 2018, 5.00% 7/1/2033<sup>2</sup> |  | 250 | 238 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Judson Park Project), Series 2018, 5.00% 7/1/2048<sup>2</sup> |  | 1350 | 1152 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Rockwood Retirement Project), Series 2014-A, 7.375% 1/1/2044 (preref. 1/1/2024)<sup>2</sup> |  | 7000 | 7293 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Rockwood Retirement Project), Series 2014-A, 7.50% 1/1/2049 (preref. 1/1/2024)<sup>2</sup> |  | 9090 | 9481 |
| Housing Fin. Commission, Nonprofit Housing Rev. Ref. Bonds (Rockwood Retirement Project), Series 2019, 5.00% 1/1/2055<sup>2</sup> |  | 9520 | 7054 |
| Housing Fin. Commission, Nonprofit Housing, Rev. and Rev. Ref. Bonds (Bayview Manor Senior Project), Series 2016-A, 5.00% 7/1/2051<sup>2</sup> |  | 1000 | 808 |
| Housing Fin. Commission, Nonprofit Rev. Bonds (Spokane International Academy Project), Series 2021-A, 5.00% 7/1/2050<sup>2</sup> |  | 1000 | 953 |
| Housing Fin. Commission, Nonprofit Rev. Bonds (Spokane International Academy Project), Series 2021-A, 5.00% 7/1/2056<sup>2</sup> |  | 1130 | 1059 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2014-2A-R, AMT, 3.50% 6/1/2044 |  | 120 | 120 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-1-N, 3.00% 12/1/2049 |  | 1465 | 1444 |
| Housing Fin. Commission, Single Family Program Bonds, Series 2021-2-N, 3.00% 6/1/2051 |  | 1290 | 1267 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.00% 1/1/2032<sup>2</sup> |  | 1955 | 2043 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-B, 5.00% 1/1/2032<sup>2</sup> |  | 745 | 779 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-A, 5.25% 1/1/2038<sup>2</sup> |  | 7245 | 7572 |
| Kalispel Tribe of Indians, Priority Distribution Payment Bonds, Series 2018-B, 5.25% 1/1/2038<sup>2</sup> |  | 1155 | 1207 |

---

American Funds Tax-Exempt Funds 289

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Washington (continued)** |  |  |  |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Green Notes, Series 2021, 4.00% 7/1/2031 | USD | 18465 | $17350 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2031<sup>2</sup> |  | 2590 | 2595 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2033<sup>2</sup> |  | 1170 | 1030 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2034<sup>2</sup> |  | 2350 | 2067 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2034<sup>2</sup> |  | 860 | 848 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2035<sup>2</sup> |  | 3295 | 2828 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2043<sup>2</sup> |  | 6065 | 4619 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2048<sup>2</sup> |  | 9795 | 6929 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2048 |  | 1490 | 1018 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058<sup>2</sup> |  | 14155 | 8897 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, Assured Guaranty Municipal insured, 3.00% 7/1/2058 |  | 6250 | 4634 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 3.00% 7/1/2058<sup>2</sup> |  | 3730 | 2435 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-B, 4.00% 7/1/2058<sup>2</sup> |  | 1500 | 1210 |
| County of King, Convention Center Public Facs. Dist., Lodging Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 7/1/2058 |  | 2500 | 2529 |
| Port of Seattle, Industrial Dev. Corp., Special Facs. Rev. Ref. Bonds (Delta Air Lines, Inc. Project), Series 2012, AMT, 5.00% 4/1/2030 |  | 2500 | 2504 |
| Port of Seattle, Special Fac. Rev. Ref. Bonds (SEATAC Fuel Facs., LLC), Series 2013, AMT, 5.00% 6/1/2030 |  | 1000 | 1005 |
| Port of Seattle, Special Fac. Rev. Ref. Bonds (SEATAC Fuel Facs., LLC), Series 2013, AMT, 5.00% 6/1/2031 |  | 2000 | 2010 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 4.00% 12/1/2025 |  | 500 | 509 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2027 |  | 1000 | 1066 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2028 |  | 2440 | 2592 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2029 |  | 1000 | 1060 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2030 |  | 1500 | 1589 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2031 |  | 1500 | 1585 |
| County of Skagit, Public Hospital Dist. No. 1 (Skagit Regional Health), Hospital Rev. Improvement and Rev. Ref. Bonds, Series 2016, 5.00% 12/1/2032 |  | 1500 | 1578 |
|  |  |  | **213093** |
| **West Virginia 0.32%** |  |  |  |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Arch Resources Project), Series 2021, AMT, 4.125% 7/1/2045 (put 7/1/2025) |  | 11840 | 11697 |
| Econ. Dev. Auth., Solid Waste Disposal Facs. Rev. Bonds (Arch Resources Project), Series 2020, AMT, 5.00% 7/1/2045 (put 7/1/2025) |  | 18945 | 19078 |
| Hospital Fin. Auth., Hospital Rev. Ref. and Improvement Rev. Bonds (Cabell Huntington Hospital Obligated Group), Series 2018-A, 5.00% 1/1/2043 |  | 2915 | 2995 |
|  |  |  | **33770** |
| **Wisconsin 3.11%** |  |  |  |
| G.O. Bonds, Series 2018-B, 5.00% 5/1/2029 |  | 105 | 106 |
| Health and Educational Facs. Auth., Rev. Bonds (Agnesian HealthCare, Inc.), Series 2013-B, 5.00% 7/1/2036 (preref. 7/1/2023) |  | 2000 | 2021 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2023 |  | 1085 | 1087 |

---

290 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2024 | USD | 1165 | $1174 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2025 |  | 1225 | 1238 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2026 |  | 1285 | 1300 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2027 |  | 1350 | 1362 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2029 |  | 1485 | 1486 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2031 |  | 1640 | 1618 |
| Health and Educational Facs. Auth., Rev. Bonds (Benevolent Corp. Cedar Community), Series 2017, 5.00% 6/1/2037 |  | 1220 | 1163 |
| Health and Educational Facs. Auth., Rev. Bonds (Clement Manor, Inc.), Series 2019, 5.00% 8/1/2049 |  | 3750 | 2674 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 3.00% 12/1/2031 |  | 560 | 494 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% 12/1/2041 |  | 780 | 624 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% 12/1/2051 |  | 3395 | 2480 |
| Health and Educational Facs. Auth., Rev. Bonds (Hope Christian Schools Obligated Group), Series 2021, 4.00% 12/1/2056 |  | 1000 | 704 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2016-B, 5.00% 2/15/2034 |  | 1800 | 1874 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2016-B, 5.00% 2/15/2042 |  | 2215 | 2253 |
| Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2016-B, 5.00% 2/15/2046 |  | 3205 | 3245 |
| Health and Educational Facs. Auth., Rev. Bonds (Milwaukee Regional Medical Center Thermal Service, Inc.), Series 2018, 5.00% 4/1/2044 |  | 1600 | 1712 |
| Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2021-A, 3.00% 3/1/2052 |  | 975 | 960 |
| Housing and Econ. Dev. Auth., Housing Rev. Bonds, Series 2021-B, 0.40% 5/1/2045 (put 11/1/2023) |  | 330 | 321 |
| Public Fin. Auth., Airport Facs. Rev. Ref. Bonds (Transportation Infrastructure Properties, LLC Obligated Group), Series 2012-B, AMT, 5.00% 7/1/2042 |  | 450 | 451 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, 4.00% 7/15/2029<sup>2</sup> |  | 645 | 621 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, 5.00% 7/15/2039<sup>2</sup> |  | 1380 | 1357 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, 5.00% 7/15/2049<sup>2</sup> |  | 3360 | 3127 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas 2 Project), Series 2019-A, 5.00% 7/15/2054<sup>2</sup> |  | 1605 | 1463 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-A, 5.125% 7/15/2037<sup>2</sup> |  | 1000 | 1004 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-A, 5.375% 7/15/2047<sup>2</sup> |  | 6375 | 6294 |
| Public Fin. Auth., Charter School Rev. Bonds (American Preparatory Academy - Las Vegas Project), Series 2017-B, 5.375% 7/15/2052<sup>2</sup> |  | 2000 | 1949 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2041<sup>2</sup> |  | 890 | 776 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2051<sup>2</sup> |  | 2000 | 1642 |
| Public Fin. Auth., Charter School Rev. Bonds (Ascend Leadership Academy Project), Series 2021-A, 5.00% 6/15/2056<sup>2</sup> |  | 1390 | 1112 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2021-A, 4.00% 6/1/2036<sup>2</sup> |  | 400 | 347 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2019-A, 5.00% 6/1/2039<sup>2</sup> |  | 710 | 680 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2019-A, 5.00% 6/1/2050<sup>2</sup> |  | 1950 | 1749 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2021-A, 4.00% 6/1/2051<sup>2</sup> |  | 1000 | 743 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2022-A, 5.875% 6/1/2052<sup>2</sup> |  | 900 | 906 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2021-A, 4.00% 6/1/2061<sup>2</sup> |  | 1250 | 878 |
| Public Fin. Auth., Charter School Rev. Bonds (Coral Academy of Science Reno), Series 2022-A, 6.00% 6/1/2062<sup>2</sup> |  | 1565 | 1573 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2040<sup>2</sup> |  | 1525 | 1216 |

---

American Funds Tax-Exempt Funds 291

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2050<sup>2</sup> | USD | 2990 | $2150 |
| Public Fin. Auth., Education Rev. Bonds (Bonnie Cone Classical Academy), Series 2021-A, 4.00% 6/15/2056<sup>2</sup> |  | 2445 | 1683 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2039<sup>2</sup> |  | 820 | 796 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2049<sup>2</sup> |  | 520 | 481 |
| Public Fin. Auth., Education Rev. Bonds (North Carolina Leadership Academy), Series 2019-A, 5.00% 6/15/2054<sup>2</sup> |  | 1365 | 1243 |
| Public Fin. Auth., Education Rev. Bonds (Shining Rock Classical Academy), Series 2022-A, 6.00% 6/15/2052 |  | 1000 | 966 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2041<sup>2</sup> |  | 2000 | 1840 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2051<sup>2</sup> |  | 1750 | 1534 |
| Public Fin. Auth., Education Rev. Bonds (Signature Preparatory), Series 2021-A, 5.00% 6/15/2056<sup>2</sup> |  | 2000 | 1726 |
| Public Fin. Auth., Educational Fac. Rev. Ref. Bonds (New Plan Learning, Inc. Project), Series 2021-A, 3.75% 7/1/2031 |  | 1900 | 1682 |
| Public Fin. Auth., Educational Fac. Rev. Ref. Bonds (New Plan Learning, Inc. Project), Series 2021-A, 5.00% 7/1/2041 |  | 10000 | 8904 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Charter Day School, Inc.), Series 2020-A, 5.00% 12/1/2035<sup>2</sup> |  | 4000 | 3914 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Charter Day School, Inc.), Series 2020-A, 5.00% 12/1/2045<sup>2</sup> |  | 4750 | 4305 |
| Public Fin. Auth., Educational Facs. Rev. Bonds (Queens University of Charlotte), Series 2022-A, 4.75% 3/1/2052 |  | 13000 | 12311 |
| Public Fin. Auth., Exempt Facs. Rev. Ref. Bonds (Celanese Project), Series 2016-A, AMT, 5.00% 1/1/2024<sup>2</sup> |  | 2105 | 2120 |
| Public Fin. Auth., Exempt Facs. Rev. Ref. Bonds (Celanese Project), Series 2016-A, AMT, 5.00% 12/1/2025<sup>2</sup> |  | 1000 | 1021 |
| Public Fin. Auth., Exempt Facs. Rev. Ref. Bonds (National Gypsum Co.), Series 2016, AMT, 4.00% 8/1/2035 |  | 9200 | 8226 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2046 |  | 3740 | 3209 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2051 |  | 9650 | 8011 |
| Public Fin. Auth., Health Care Facs. Rev. Bonds (Appalachian Regional Healthcare System Obligated Group), Series 2021-A, 4.00% 7/1/2056 |  | 15690 | 12595 |
| Public Fin. Auth., Health Care System Rev. Bonds (Cone Health), Series 2022-A, 4.00% 10/1/2052 |  | 3255 | 3045 |
| Public Fin. Auth., Hospital Rev. Bonds (Carson Valley Medical Center), Series 2021-A, 4.00% 12/1/2041 |  | 4385 | 3798 |
| Public Fin. Auth., Hospital Rev. Bonds (Renown Regional Medical Center Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 6/1/2045 |  | 7900 | 6313 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 5.625% 2/1/2046<sup>2</sup> |  | 7035 | 6846 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 5.75% 2/1/2052<sup>2</sup> |  | 6730 | 6481 |
| Public Fin. Auth., Hotel Rev. Bonds (Grand Hyatt San Antonio Hotel Acquisition Project), Series 2022-B, 6.00% 2/1/2062<sup>2</sup> |  | 2500 | 2482 |
| Public Fin. Auth., Limited Obligation PILOT Rev. Bonds (American Dream at Meadowlands Project), Series 2017, 7.00% 12/1/2050<sup>2</sup> |  | 100 | 88 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.50% 7/1/2052 |  | 3960 | 4425 |
| Public Fin. Auth., Project Rev. Bonds (CFP3 - Eastern Michigan University Student Housing Project), Series 2022-A-1, BAM insured, 5.625% 7/1/2055 |  | 2620 | 2925 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Evergreens Obligated Group), Series 2019-A, 5.00% 11/15/2044 |  | 3300 | 3287 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Evergreens Obligated Group), Series 2019-A, 5.00% 11/15/2049 |  | 1500 | 1472 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 4.00% 11/15/2037 |  | 600 | 551 |
| Public Fin. Auth., Retirement Community Rev. Bonds (Lifespace Communities, Inc.), Series 2020-A, 5.00% 11/15/2041 |  | 2000 | 2013 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 4.00% 9/1/2029<sup>2</sup> |  | 1015 | 914 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2039<sup>2</sup> |  | 775 | 676 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2049<sup>2</sup> |  | 2655 | 2143 |
| Public Fin. Auth., Retirement Fac. Rev. Bonds (Penick Village), Series 2019, 5.00% 9/1/2054<sup>2</sup> |  | 2725 | 2152 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2041 |  | 1005 | 857 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2046 |  | 2575 | 2096 |
| Public Fin. Auth., Retirement Facs. First Mortgage Rev. and Rev. Ref. Bonds (The United Methodist Retirement Homes), Series 2021-A, 4.00% 10/1/2051 |  | 5020 | 3964 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 4.00% 9/1/2029<sup>2</sup> |  | 1750 | 1668 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2039<sup>2</sup> |  | 2230 | 2147 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2049<sup>2</sup> |  | 6000 | 5513 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Friends Homes), Series 2019, 5.00% 9/1/2054<sup>2</sup> |  | 2320 | 2102 |

---

292 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2051 | USD | 3515 | $3147 |
| Public Fin. Auth., Retirement Facs. Rev. Bonds (Givens Estates), Series 2021, 4.00% 12/1/2056 |  | 11155 | 9805 |
| Public Fin. Auth., Rev. and Rev. Ref. Bonds (Roseman University of Health Sciences Project), Series 2022, 4.00% 4/1/2042<sup>2</sup> |  | 2000 | 1672 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, 3.00% 7/1/2050 |  | 5000 | 3790 |
| Public Fin. Auth., Rev. Bonds (Bayhealth Medical Center Project), Series 2021-A, BAM insured, 3.00% 7/1/2050 |  | 1000 | 782 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 4.00% 10/15/2031<sup>2</sup> |  | 280 | 256 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 5.00% 10/15/2041<sup>2</sup> |  | 580 | 536 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 5.00% 10/15/2051<sup>2</sup> |  | 1130 | 1000 |
| Public Fin. Auth., Rev. Bonds (Ocean Academy Charter School), Series 2021, 5.00% 10/15/2056<sup>2</sup> |  | 1630 | 1410 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2020, 3.00% 4/1/2025<sup>2</sup> |  | 325 | 315 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2020, 5.00% 4/1/2030<sup>2</sup> |  | 500 | 512 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2020, 5.00% 4/1/2040<sup>2</sup> |  | 4505 | 4464 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2015, 5.875% 4/1/2045 |  | 6250 | 6350 |
| Public Fin. Auth., Rev. Bonds (Roseman University of Health Sciences Project), Series 2020, 5.00% 4/1/2050<sup>2</sup> |  | 2000 | 1889 |
| Public Fin. Auth., Rev. Bonds (The Obligated Group of National Senior Communities, Inc.), Series 2022, 4.00% 1/1/2052 |  | 1020 | 890 |
| Public Fin. Auth., Rev. Bonds (WFCS Portfolio Projects), Series 2020-A-1, 5.00% 1/1/2055<sup>2</sup> |  | 8475 | 7058 |
| Public Fin. Auth., Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056<sup>2</sup> |  | 7770 | 6402 |
| Public Fin. Auth., Rev. Bonds (WFCS Portfolio Projects), Capital Appreciation Bonds, Series 2021-B, 0% 1/1/2061<sup>2</sup> |  | 22700 | 1271 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 4.125% 6/15/2029<sup>2</sup> |  | 445 | 430 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 5.00% 6/15/2039<sup>2</sup> |  | 500 | 495 |
| Public Fin. Auth., Rev. Bonds (Wilson Preparatory Academy), Series 2019-A, 5.00% 6/15/2049<sup>2</sup> |  | 1100 | 1046 |
| Public Fin. Auth., Rev. Green Bonds (Fargo-Moorhead Metropolitan Area Flood Risk Management Project), Series 2021, AMT, 4.00% 3/31/2056 |  | 10960 | 8951 |
| Public Fin. Auth., Senio Rev. Bonds (Proton International Arkansas, LLC), Series 2021-A, 6.85% 1/1/2051<sup>2</sup> |  | 5000 | 3875 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 5.00% 1/1/2046 |  | 11250 | 11084 |
| Public Fin. Auth., Senior Living Rev. Bonds (Rose Villa Project), Series 2014-A, 5.50% 11/15/2034 (preref. 11/15/2024)<sup>2</sup> |  | 1000 | 1046 |
| Public Fin. Auth., Senior Living Rev. Bonds (Rose Villa Project), Series 2014-A, 5.75% 11/15/2044 (preref. 11/15/2024)<sup>2</sup> |  | 1800 | 1891 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 5.00% 1/1/2035 |  | 9435 | 9578 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 4.00% 1/1/2046 |  | 1000 | 839 |
| Public Fin. Auth., Senior Living Rev. Ref. Bonds (Fellowship Senior Living Project), Series 2019-A, 4.00% 1/1/2052 |  | 2000 | 1623 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2040 |  | 1775 | 1789 |
| Public Fin. Auth., Social Rev. Bonds (The Carmelite System, Inc. Obligated Group), Series 2020, 5.00% 1/1/2045 |  | 2565 | 2561 |
| Public Fin. Auth., Student Housing Rev. Bonds (Beyond Boone, LLC - Appalachian State University Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 7/1/2059 |  | 2400 | 2145 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015-A, 5.00% 7/1/2030 |  | 2140 | 2166 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015, 5.00% 7/1/2035 |  | 1000 | 1004 |
| Public Fin. Auth., Student Housing Rev. Bonds (CHF-Cullowhee, LLC - Western Carolina University Project), Series 2015, 5.25% 7/1/2047 |  | 2000 | 2006 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% 6/1/2034 |  | 3935 | 4044 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% 6/1/2039 |  | 2045 | 2058 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-B, 5.00% 6/1/2039 |  | 1595 | 1605 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% 6/1/2044 |  | 1350 | 1326 |
| Public Fin. Auth., Student Housing Rev. Bonds (NC A&T Real Estate Foundation, LLC Project), Series 2019-A, 5.00% 6/1/2049 |  | 3625 | 3490 |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-A-1, 4.00% 7/1/2041<sup>2</sup> |  | 675 | 580 |

---

American Funds Tax-Exempt Funds 293

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Wisconsin (continued)** |  |  |  |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-A-1, 4.00% 7/1/2051<sup>2</sup> | USD | 5630 | $4450 |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-A-1, 4.00% 7/1/2061<sup>2</sup> |  | 5720 | 4310 |
| Public Fin. Auth., Student Housing Rev. Green Bonds (University of Hawaii Foundation Project), Series 2021-B, 5.25% 7/1/2061<sup>2</sup> |  | 1000 | 794 |
|  |  |  | **331194** |
| **Total bonds, notes & other debt instruments** (cost: $10,150,739,000) |  |  | **9477468** |
| **Short-term securities 10.27%** |  |  |  |
| **Municipals 8.91%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-055, 1.87% 12/15/2028<sup>2,3</sup> |  | 7900 | 7900 |
| State of Alaska, City of Valdez, Marine Terminal Rev. Ref. Bonds (ExxonMobil Project), Series 2001, 1.21% 12/1/2029<sup>3</sup> |  | 3975 | 3975 |
| State of Arizona, Industrial Dev. Auth., Hospital Rev. Ref. Bonds (Phoenix Children's Hospital), Series 2019-B, 1.27% 2/1/2048<sup>3</sup> |  | 5095 | 5095 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2014-A, 1.27% 11/15/2052<sup>3</sup> |  | 12600 | 12600 |
| State of Arizona, City of Phoenix, Industrial Dev. Auth., Solid Waste Disposal Rev. Ref. Bonds (Republic Services, Inc. Project), Series 2013, AMT, 4.10% 12/1/2035 (put 11/1/2022)<sup>11</sup> |  | 5000 | 5000 |
| State of California, G.O. IAM Commercial Paper, Series 2023, 2.00% 3/2/2023 |  | 20000 | 20000 |
| State of California, City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 |  | 43500 | 43791 |
| State of California, County of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/30/2023 |  | 10000 | 10080 |
| State of California, Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-B-2, 0.40% 7/1/2037<sup>3</sup> |  | 3295 | 3295 |
| State of California, Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2021-B, AMT, 3.60% 7/1/2051 (put 7/17/2023)<sup>11</sup> |  | 3000 | 3002 |
| State of California, County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 |  | 15000 | 15163 |
| State of Colorado, Education Loan Program, Tax and Rev. Anticipation Notes, Series 2022-A, 3.75% 6/29/2023 |  | 25000 | 25127 |
| State of Colorado, Education Loan Program, Tax and Rev. Anticipation Notes, Series 2022-B, 5.00% 6/29/2023 |  | 20000 | 20203 |
| State of Connecticut, Health and Educational Facs. Auth., Rev. Bonds (Yale University Issue), Series 2017-A, 1.25% 7/1/2042<sup>3</sup> |  | 10000 | 10000 |
| State of Florida, Miami-Dade County School Dist., Tax Anticipation Notes, Series 2022, 4.00% 2/23/2023 |  | 12500 | 12511 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2010-A, 1.31% 8/1/2044<sup>3</sup> |  | 10500 | 10500 |
| State of Illinois, Fin. Auth., Demand Rev. Bonds (University of Chicago Medical Center), Series 2011-A, 1.31% 8/1/2044<sup>3</sup> |  | 2415 | 2415 |
| State of Indiana, Fin. Auth., Environmental Rev. Ref. Bonds (Duke Energy Indiana, Inc. Project), Series 2009-A-3, 1.75% 12/1/2039<sup>3</sup> |  | 17065 | 17065 |
| State of Indiana, Fin. Auth., Rev. Bonds (Ascension Health Senior Credit Group), Series 2008-E-8, 1.74% 11/15/2033<sup>3</sup> |  | 7600 | 7600 |
| State of Iowa, Fin. Auth., Rev. Bonds (UnityPoint Health), Series 2018-F, 1.15% 7/1/2041<sup>3</sup> |  | 4680 | 4680 |
| State of Louisiana, Louisiana Stadium and Exposition Dist., Bond Anticipation Notes, Series 2021, 4.00% 7/3/2023 |  | 1885 | 1887 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-A, 1.23% 8/1/2043<sup>3</sup> |  | 29000 | 29000 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-C, 1.15% 12/1/2043<sup>3</sup> |  | 1225 | 1225 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2008-B, 1.60% 12/1/2043<sup>3</sup> |  | 5000 | 5000 |
| State of Louisiana, Public Facs. Auth., Rev. Bonds (Air Products and Chemicals Project), Series 2010, 1.60% 8/1/2050<sup>3</sup> |  | 17500 | 17500 |
| State of Maryland, County of Montgomery, G.O. Bonds, Series 2017-E, 1.20% 11/1/2037<sup>3</sup> |  | 7675 | 7675 |
| State of Maryland, County of Montgomery, Rev. Bonds (Trinity Health Credit Group), Series 2013, 2.58% 12/1/2041 (put 3/1/2023)<sup>11</sup> |  | 6000 | 6000 |
| State of Massachusetts, Massachusetts Bay Transportation Auth., General Transportation System Bonds, Series 2000-A, 1.79% 3/1/2030<sup>3</sup> |  | 5000 | 5000 |
| State of Massachusetts, Massachusetts Bay Transportation Auth., IAM Commercial Paper, Series 2023-A, 2.10% 3/2/2023 |  | 10000 | 10000 |
| State of Michigan, Fin. Auth., State Aid Rev. Notes, Series 2022-A, 5.00% 8/21/2023 |  | 5000 | 5066 |

---

294 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of Michigan, Hospital Fin. Auth., Hospital Rev. Ref. Bonds (Ascension Health Senior Credit Group), Series 2016-E-2, 1.74% 11/15/2047<sup>3</sup> | USD | 9500 | $9500 |
| State of Michigan, Board of Trustees of Michigan State University, IAM Commercial Paper, Series 2022-G, 2.55% 2/8/2023 |  | 7000 | 7000 |
| State of Michigan, Strategic Fund, Demand Limited Obligation Rev. Bonds (Air Products and Chemicals, Inc. Project), Series 2007, 1.23% 12/1/2042<sup>3</sup> |  | 28540 | 28540 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2008-A, 1.26% 4/1/2038<sup>3</sup> |  | 7250 | 7250 |
| State of Michigan, Regents of the University of Michigan, General Rev. Bonds, Series 2012-B, 1.12% 4/1/2042<sup>3</sup> |  | 1100 | 1100 |
| State of Minnesota, City of Rochester, Health Care Facs. Rev. Bonds (Mayo Clinic), Series 2011-B, 1.65% 11/15/2038<sup>3</sup> |  | 8700 | 8700 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2007-A, 1.21% 12/1/2030<sup>3</sup> |  | 16300 | 16300 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2009-D, 1.21% 12/1/2030<sup>3</sup> |  | 4000 | 4000 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-E, 1.57% 12/1/2030<sup>3</sup> |  | 6500 | 6500 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-K, 1.20% 11/1/2035<sup>3</sup> |  | 4090 | 4090 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2010-J, 1.21% 11/1/2035<sup>3</sup> |  | 20460 | 20460 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-E, 1.21% 11/1/2035<sup>3</sup> |  | 4250 | 4250 |
| State of Mississippi, Business Fin. Corp., Gulf Opportunity Zone Industrial Dev. Rev. Bonds (Chevron U.S.A., Inc. Project), Series 2011-F, 1.21% 11/1/2035<sup>3</sup> |  | 3875 | 3875 |
| State of Mississippi, County of Jackson, Port Fac. Rev. Ref. Bonds (Chevron U.S.A., Inc. Project), Series 1993, 1.20% 6/1/2023<sup>3</sup> |  | 22040 | 22040 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), Series 2003-B, 1.21% 2/15/2033<sup>3</sup> |  | 1600 | 1600 |
| State of Missouri, Health and Educational Facs. Auth., Demand Educational Facs. Rev. Bonds (Washington University), Series 2000-B, 1.20% 3/1/2040<sup>3</sup> |  | 8200 | 8200 |
| State of New Hampshire, Health and Education Facs. Auth., Rev. Ref. Bonds (Dartmouth College Issue), Series 2007-B, 1.28% 6/1/2041<sup>3</sup> |  | 14105 | 14105 |
| State of New York, Dormitory Auth., Rev. Bonds (Cornell University), Series 2019-B, 1.16% 7/1/2039<sup>3</sup> |  | 7325 | 7325 |
| State of New York, New York City G.O. Bonds, Series 2006-E-2, 1.25% 8/1/2034<sup>3</sup> |  | 5305 | 5305 |
| State of New York, New York City G.O. Bonds, Series 2005-E-3, 1.62% 8/1/2034<sup>3</sup> |  | 7870 | 7870 |
| State of New York, New York City G.O. Bonds, Series 2006-E-4, 1.62% 8/1/2034<sup>3</sup> |  | 9055 | 9055 |
| State of New York, New York City G.O. Bonds, Series 2012-G-6, 1.19% 4/1/2042<sup>3</sup> |  | 2265 | 2265 |
| State of New York, New York City G.O. Bonds, Series 2021-2, 1.60% 4/1/2042<sup>3</sup> |  | 2165 | 2165 |
| State of New York, New York City G.O. Bonds, Series 2021-3, 1.75% 4/1/2042<sup>3</sup> |  | 7645 | 7645 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Rev. Bonds, Series 2000-C, 1.77% 6/15/2033<sup>3</sup> |  | 19500 | 19500 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2008-BB-2, 1.25% 6/15/2035<sup>3</sup> |  | 17225 | 17225 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2007-CC-1, 1.61% 6/15/2038<sup>3</sup> |  | 15895 | 15895 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2016-AA-1, 1.25% 6/15/2048<sup>3</sup> |  | 5440 | 5440 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-BB-1, 1.25% 6/15/2049<sup>3</sup> |  | 8150 | 8150 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-1, 1.25% 6/15/2050<sup>3</sup> |  | 26920 | 26920 |
| State of New York, New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2014-AA-2, 1.25% 6/15/2050<sup>3</sup> |  | 3675 | 3675 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-A-4, 1.13% 8/1/2043<sup>3</sup> |  | 50465 | 50465 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-3, 1.25% 2/1/2045<sup>3</sup> |  | 3825 | 3825 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>3</sup> |  | 2000 | 2000 |
| State of New York, New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-E-4, 1.25% 2/1/2045<sup>3</sup> |  | 12000 | 12000 |
| State of New York, Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2005-B-2B, 1.25% 1/1/2032<sup>3</sup> |  | 15000 | 15000 |

---

American Funds Tax-Exempt Funds 295

American High-Income Municipal Bond Fund (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Municipals (continued)** |  |  |  |
| State of North Carolina, Capital Facs. Fin. Agcy., Rev. Bonds (North Carolina Aquarium Society), Series 2004, 1.63% 6/1/2026<sup>3</sup> | USD | 4305 | $4305 |
| State of Ohio, County of Franklin, Rev. Bonds (CHE Trinity Health Credit Group), Series 2013, 3.30% 12/1/2046 (put 11/1/2022)<sup>11</sup> |  | 22745 | 22743 |
| State of Ohio, Higher Educational Facs. Commission, Rev. IAM Commercial Paper, Series 2008-B-5, 2.20% 4/5/2023 |  | 20000 | 20000 |
| State of South Carolina, Jobs-Econ. Dev. Auth., Hospital Rev. Bonds (Prisma Health Obligated Group), Series 2018-B, 1.20% 5/1/2048<sup>3</sup> |  | 20000 | 20000 |
| State of Tennessee, County of Montgomery, Public Building Auth., Pooled Fncg. Rev. Bonds (Tennessee County Loan Pool), Series 2004, Bank of America LOC, 1.38% 7/1/2034<sup>3</sup> |  | 540 | 540 |
| State of Texas, County of Alachua, Health Facs. Auth., Rev. IAM Commercial Paper, Series 2008-A, 3.10% 3/6/2023 |  | 8750 | 8759 |
| State of Texas, City of Dallas, Waterworks and Sewer System Rev. IAM Commercial Paper, Series 2023-F-1, 2.40% 3/23/2023 |  | 10000 | 10000 |
| State of Texas, Gulf Coast Waste Disposal Auth., Pollution Control Rev. Ref. Bonds (Exxon Project), Series 1989, 1.21% 10/1/2024<sup>3</sup> |  | 7020 | 7020 |
| State of Texas, Harris County Health Facs. Dev. Corp., Rev. Ref. Bonds (Christus Health), Series 2005-A-4, Assured Guaranty Municipal insured, 3.39% 7/1/2031<sup>3</sup> |  | 1050 | 1050 |
| State of Texas, Harris County Industrial Dev. Corp., Pollution Control Rev. Bonds (Exxon Project), Series 1984-A, 1.21% 3/1/2024<sup>3</sup> |  | 9700 | 9700 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-A, 1.65% 5/15/2034<sup>3</sup> |  | 4500 | 4500 |
| State of Texas, City of Houston, Combined Utility System Rev. Ref. Bonds, Series 2012-B, 1.66% 5/15/2034<sup>3</sup> |  | 17500 | 17500 |
| State of Texas, Lower Neches Valley Auth. Industrial Dev. Corp., Rev. Bonds (ExxonMobil Project), Series 2011, 1.12% 11/1/2051<sup>3</sup> |  | 2150 | 2150 |
| State of Texas, Port Arthur Navigation Dist. Industrial Dev. Corp., Rev. Bonds (Air Products Project), Series 2005, 1.23% 5/1/2040<sup>3</sup> |  | 11300 | 11300 |
| State of Texas, Board of Regents of the University of Texas System, IAM Commercial Paper, Series 2023-A, 2.08% 3/10/2023 |  | 10000 | 10000 |
| State of Texas, Board of Regents of the University of Texas System, Permanent University Fund Bonds, Series 2008-A, 1.52% 7/1/2037<sup>3</sup> |  | 30000 | 30000 |
| State of Texas, Board of Regents of the University of Texas System, Rev. Ref. Bonds, Series 2007-B, 1.58% 8/1/2033<sup>3</sup> |  | 36530 | 36530 |
| State of Texas, Veterans Bonds, Series 2019, 1.65% 6/1/2050<sup>3</sup> |  | 8190 | 8190 |
| State of Wisconsin, Health and Educational Facs. Auth., Rev. Bonds (Marshfield Clinic Health System, Inc.), Series 2020-C, 2.28% 2/15/2053<sup>3</sup> |  | 1600 | 1600 |
| State of Wyoming, County of Sublette, Pollution Control Rev. Ref. Bonds (ExxonMobil Project), Series 2014, 1.21% 10/1/2044<sup>3</sup> |  | 4425 | 4425 |
|  |  |  | **947902** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | Weighted<br> average yield<br> at acquisition | | |
| **U.S. Treasury bills 1.36%** |  |  |  |
| U.S. Treasury 2/7/2023<sup>12</sup> | 4.152% | 120000 | 119917 |
| U.S. Treasury 2/21/2023 | 4.481 | 25000 | 24939 |
|  |  |  | **144856** |
| **Total short-term securities** (cost: $1,092,877,000) |  |  | **1092758** |
| **Total investment securities 99.37%** (cost: $11,243,616,000) |  |  | **10570226** |
| Other assets less liabilities 0.63% |  |  | 67345 |
| **Net assets 100.00%** |  |  | $**10637571** |

---

296 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures contracts**<br>**Contracts** |<br>**Type** |<br>**Number of<br> contracts** |<br>**Expiration** | **Notional<br> amount<br> (000)** | **Notional<br> amount<br> (000)** |<br>**Value and<br> unrealized<br> (depreciation)<br> appreciation<br> at 1/31/2023<br> (000)** |
| 2 Year U.S. Treasury Note Futures | Long | 1539 | March 2023 | USD | 316493 | $(648) |
| 5 Year U.S. Treasury Note Futures | Long | 39 | March 2023 |  | 4260 | (14) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 1236 | March 2023 |  | (149807) | 460 |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 115 | March 2023 |  | (16301) | (270) |
|  |  |  |  |  |  | $**(472)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted securities<sup>9</sup>** |  | | | |
|  | Acquisition<br> date(s) | Cost<br> (000) | Value<br> (000) | Percent<br> of net<br> assets |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 10/22/2025<sup>6,7,8</sup> | 12/29/2020 | $1837 | $1837 | .02% |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 9/7/2026<sup>6,7,8</sup> | 10/1/2021-12/29/2021 | 910 | 910 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 12/17/2025<sup>6,7,8</sup> | 1/28/2021 | 876 | 876 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 4/12/2027<sup>6,7,8</sup> | 5/25/2022 | 611 | 611 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 6/16/2027<sup>6,7,8</sup> | 7/19/2022 | 462 | 462 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 3/18/2026<sup>6,7,8</sup> | 6/30/2021 | 420 | 420 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 1/21/2026<sup>6,7,8</sup> | 6/30/2021 | 402 | 402 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 11/19/2025<sup>6,7,8</sup> | 1/28/2021 | 370 | 370 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 1/18/2027<sup>6,7,8</sup> | 5/5/2022 | 363 | 363 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 10/20/2027<sup>7,8</sup> | 12/9/2022 | 321 | 321 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 6/22/2026<sup>6,7,8</sup> | 12/29/2021 | 270 | 270 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 9/15/2027<sup>7,8</sup> | 12/9/2022 | 259 | 259 | .00 |

---

American Funds Tax-Exempt Funds 297

American High-Income Municipal Bond Fund (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted securities<sup>9</sup>** (continued) |  | | | |
|  | Acquisition<br> date(s) | Cost <br> (000) | Value <br> (000) | Percent <br> of net <br> assets |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 4/15/2026<sup>6,7,8</sup> | 6/30/2021 | $232 | $232 | .00% |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 12/14/2026<sup>6,7,8</sup> | 5/5/2022 | 199 | 199 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 7/20/2026<sup>6,7,8</sup> | 12/29/2021 | 120 | 120 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 10/26/2026<sup>6,7,8</sup> | 12/29/2021 | 64 | 64 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 11/23/2026<sup>6,7,8</sup> | 12/29/2021 | 30 | 30 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 7/21/2027<sup>6,7,8</sup> | 12/9/2022 | 10 | 10 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK 5/20/2026<sup>6,7,8</sup> | 6/30/2021 | 6 | 6 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/18/2027<sup>6,7,8</sup> | 12/9/2022 | 5 | 5 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/12/2026<sup>6,7,8</sup> | 12/29/2021 | 4 | 4 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 340 (Ashbury Hills), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 3/15/2027<sup>6,7,8</sup> | 5/5/2022 | 3 | 3 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 10/24/2027<sup>7,8</sup> | 11/21/2022 | 2296 | 2296 | .02 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 7/18/2027<sup>7,8</sup> | 9/7/2022 | 2133 | 2133 | .02 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 11/21/2027<sup>7,8</sup> | 12/27/2022 | 785 | 785 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 8/18/2027<sup>7,8</sup> | 11/7/2022 | 727 | 727 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 12/29/2026<sup>7,8</sup> | 3/28/2022 | 609 | 609 | .01 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 6/27/2027<sup>7,8</sup> | 8/1/2022 | 594 | 594 | .00 |

---

298 American Funds Tax-Exempt Funds

American High-Income Municipal Bond Fund (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted securities<sup>9</sup>** (continued) |  | | | |
|  | Acquisition <br> date(s) | Cost <br> (000) | Value <br> (000) | Percent <br> of net <br> assets |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 6/6/2027<sup>6,7,8</sup> | 8/1/2022 | $347 | $347 | .00% |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 1/26/2027<sup>6,7,8</sup> | 3/28/2022 | 106 | 106 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 12/6/2026<sup>7,8</sup> | 3/28/2022 | 53 | 53 | .00 |
| County of Sarpy, Sanitary and Improvement Dist. No. 354 (Sunset Meadows), Construction Fund Warrants, Series 2022, 6.00% PIK or 6.00% Cash 9/6/2027<sup>7,8</sup> | 11/7/2022 | 13 | 13 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 5/4/2026<sup>7,8</sup> | 9/1/2021 | 675 | 675 | .01 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 8/4/2026<sup>7,8</sup> | 12/21/2021 | 642 | 642 | .01 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 1/4/2028<sup>7,8</sup> | 1/23/2023 | 602 | 602 | .01 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 2/23/2027<sup>7,8</sup> | 3/1/2022-10/24/2022 | 372 | 372 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 8/11/2027<sup>7,8</sup> | 10/24/2022 | 240 | 240 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 09/19/2027<sup>7,8</sup> | 12/27/2022 | 201 | 201 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 1/25/2026<sup>7,8</sup> | 3/29/2021 | 154 | 154 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 12/7/2027<sup>7,8</sup> | 12/27/2022 | 135 | 135 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 12/9/2025<sup>7,8</sup> | 3/29/2021 | 121 | 121 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2020, 7.00% PIK 3/22/2026<sup>7,8</sup> | 9/1/2021 | 110 | 110 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 2/8/2026<sup>7,8</sup> | 3/29/2021 | 89 | 89 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 2/8/2026<sup>7,8</sup> | 3/1/2021 | 45 | 45 | .00 |

---

American Funds Tax-Exempt Funds 299

American High-Income Municipal Bond Fund (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Restricted securities<sup>9</sup>** (continued) |  | | | |
|  | Acquisition <br> date(s) | Cost <br> (000) | Value <br> (000) | Percent <br> of net <br> assets |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2021, 7.00% PIK 9/13/2026<sup>7,8</sup> | 12/21/2021 | $3 | $3 | .00% |
| County of Douglas, Sanitary and Improvement Dist. No. 605 (Bluestem Meadows), Construction Fund Warrants, Series 2022, 7.00% PIK or 7.00% Cash 4/13/2027<sup>7,8</sup> | 10/24/2022 | 2 | 2 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 8/14/2025<sup>6,7,8</sup> | 2/25/2021 | 190 | 190 | .01 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 1/13/2025<sup>6,7,8</sup> | 6/19/2020 | 184 | 184 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 4/13/2025<sup>6,7,8</sup> | 6/19/2020 | 172 | 172 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2020, 7.00% PIK or 7.00% Cash 6/8/2025<sup>6,7,8</sup> | 2/25/2021 | 151 | 151 | .00 |
| County of Douglas, Sanitary and Improvement Dist. No. 596 (West Center Village), Construction Fund Warrants, Series 2019, 7.00% PIK or 7.00% Cash 3/16/2025<sup>6,7,8</sup> | 6/19/2020 | 25 | 25 | .00 |
| **Total** |  | $**19550** | $**19550** | **.18%** |

---

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> 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 $2,283,253,000, which represented 21.46% of the net assets of the fund.

<sup>3</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>4</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>5</sup> Scheduled interest payment was not received. Coupon payments are paid at the election of the issuer and any unpaid amounts are accumulated.

<sup>6</sup> Scheduled interest and/or principal payment was not received.

<sup>7</sup> Value determined using significant unobservable inputs.

<sup>8</sup> 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.

<sup>9</sup> 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 $19,550,000, which represented .18% of the net assets of the fund.

<sup>10</sup> Amount less than one thousand.

<sup>11</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

<sup>12</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $1,370,000, which represented .01% of the net assets of the fund.

**Key to abbreviations**

Agcy. = Agency

AMT = Alternative Minimum Tax

Assn. = Association

Auth. = Authority

Certs. = Certificates

Dept. = Department

Dev. = Development

Dist. = District

Econ. = Economic

Fac. = Facility

Facs. = Facilities

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

IAM = Interest at Maturity

LIBOR = London Interbank Offered Rate

LOC = Letter of credit

Part. = Participation

PIK = Payment In Kind

Preref. = Prerefunded

Redev. = Redevelopment

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

SOFR = Secured Overnight Financing Rate

USD = U.S. dollars

Refer to the notes to financial statements.

300 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| The Tax-Exempt Fund of California | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_007.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund's investment policies. Securities in the "unrated" category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 87.98%** | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California 86.26%** |  |  |  |
| City of Adelanto, Public Utility Auth., Rev. Ref. Bonds (Utility System Project), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 7/1/2039 | USD | 2000 | $2170 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2049 (5.375% on 10/1/2037)<sup>1</sup> |  | 2635 | 1316 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-A, 0% 10/1/2050 (5.40% on 10/1/2037)<sup>1</sup> |  | 9190 | 4581 |
| Alameda Corridor Transportation Auth., Rev. Ref. Bonds, Convertible Capital Appreciation Bonds, Series 2022-C-2, Assured Guaranty Municipal insured, 0% 10/1/2052 (5.45% on 10/1/2037)<sup>1</sup> |  | 3970 | 2010 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2042 |  | 1000 | 1027 |
| City of Alameda, Community Facs. Dist. No. 2013-1 (Alameda Landing Public Improvements), Special Tax Bonds, Series 2016, 5.00% 9/1/2046 |  | 500 | 511 |
| City of Alhambra, Rev. Ref. Bonds (Atherton Baptist Homes Project), Series 2016, 5.00% 1/1/2029 |  | 225 | 243 |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2036 |  | 1000 | 586 |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2037 |  | 1150 | 631 |
| Antelope Valley Community College Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2022-C, 2016 Election, 0% 8/1/2042 |  | 4515 | 1813 |
| Azusa Unified School Dist., G.O. Bonds, 2014 Election, Series 2019-C, 5.00% 8/1/2044 |  | 1000 | 1090 |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, 5.00% 9/1/2032 |  | 455 | 494 |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, 5.00% 9/1/2035 |  | 600 | 642 |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, 5.00% 9/1/2036 |  | 655 | 696 |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2044 |  | 2810 | 3052 |
| City of Azusa, Community Facs. Dist. No. 2005-1 (Rosedale), Improvement Area No. 2, Special Tax Bonds, Series 2019, Assured Guaranty Municipal insured, 5.00% 9/1/2049 |  | 1930 | 2092 |
| Banning Unified School Dist., G.O. Rev. Bonds, Series 2017-A, Assured Guaranty Municipal insured, 5.00% 8/1/2035 |  | 955 | 1048 |
| Banning Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 8/1/2031 |  | 1500 | 1574 |
| Banning Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 8/1/2032 |  | 1000 | 1048 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Eskaton Properties, Inc. Obligated Group), Series 2013, 5.00% 11/15/2035 |  | 230 | 230 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Rev. Ref. Bonds (Sharp HealthCare), Series 2014-A, 5.00% 8/1/2043 |  | 1000 | 1007 |
| Assn. of Bay Area Governments, Fin. Auth. for Nonprofit Corps., Senior Living Rev. Bonds (Odd Fellows Home of California), Series 2012-A, 5.00% 4/1/2032 |  | 5000 | 5021 |

---

American Funds Tax-Exempt Funds 301

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2017-S-7, 4.00% 4/1/2034 | USD | 2005 | $2118 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2006-C-1, (SIFMA Municipal Swap Index + 0.90%) 2.56% 4/1/2045 (put 5/1/2023)<sup>2</sup> |  | 1400 | 1401 |
| Bay Area Toll Auth., San Francisco Bay Area Toll Bridge Rev. Bonds, Series 2008-B-1, (SIFMA Municipal Swap Index + 1.10%) 2.76% 4/1/2045 (put 4/1/2024)<sup>2</sup> |  | 5675 | 5706 |
| Beaumont Unified School Dist., Community Facs. Dist. No. 2018-1, Improvement Area No. 1, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 1000 | 922 |
| Beaumont Unified School Dist., Community Facs. Dist. No. 2018-1, Improvement Area No. 1, Special Tax Bonds, Series 2020, 4.00% 9/1/2050 |  | 1250 | 1131 |
| City of Beaumont, Community Facs. Dist. No. 2016-1 (Fairway Canyon), Special Tax Bonds, Series 2019, 5.00% 9/1/2044 |  | 900 | 932 |
| City of Beaumont, Community Facs. Dist. No. 2016-1 (Fairway Canyon), Special Tax Bonds, Series 2019, 5.00% 9/1/2049 |  | 400 | 411 |
| City of Beaumont, Community Facs. Dist. No. 2016-2 (Sundance), Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2044 |  | 1000 | 1028 |
| City of Beaumont, Community Facs. Dist. No. 2016-2 (Sundance), Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2049 |  | 1000 | 1022 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8C, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2043 |  | 1605 | 1661 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8D, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2043 |  | 565 | 585 |
| City of Beaumont, Community Facs. Dist. No. 93-1, Improvement Area No. 8D, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2048 |  | 1000 | 1027 |
| California County Tobacco Securitization Agcy., Tobacco Settlement Rev. Bonds (Los Angeles County Securitization Corp.), Series 2020-A, 5.00% 6/1/2027 |  | 600 | 641 |
| California County Tobacco Securitization Agcy., Tobacco Settlement Rev. Bonds (Los Angeles County Securitization Corp.), Series 2020-A, 5.00% 6/1/2028 |  | 500 | 538 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2016-B-2, 0.55% 11/1/2049 (put 11/1/2026) |  | 3440 | 3072 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2020-C, 4.00% 11/1/2051 |  | 2500 | 2514 |
| Casitas Municipal Water Dist., Community Facs. Dist. No. 2013-1, Special Tax Bonds, Series 2019, BAM insured, 4.00% 9/1/2047 |  | 1745 | 1751 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2024 |  | 300 | 305 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2025 |  | 300 | 310 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2026 |  | 275 | 288 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2027 |  | 300 | 318 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2028 |  | 250 | 268 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2029 |  | 250 | 270 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2030 |  | 275 | 300 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2014-B, Assured Guaranty Municipal insured, 5.00% 8/1/2030 |  | 1050 | 1094 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-A, BAM insured, 4.00% 8/1/2031 |  | 375 | 408 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-C, BAM insured, 4.00% 8/1/2031 |  | 300 | 326 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-A, BAM insured, 4.00% 8/1/2032 |  | 525 | 568 |
| Cathedral City, Successor Agcy. to the Redev. Agcy., Tax Allocation Housing Rev. Ref. Bonds (Merged Redev. Project Area), Series 2021-A, BAM insured, 4.00% 8/1/2034 |  | 1000 | 1064 |
| Centinela Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-C, Assured Guaranty Municipal insured, 4.00% 8/1/2033 |  | 2500 | 2626 |
| Chabot-Las Positas Community College Dist., G.O. Rev. Ref. Bonds, Series 2017-A, 4.00% 8/1/2042 |  | 1500 | 1516 |
| Chaffey Community College Dist., G.O. Bonds, 2018 Election, Series 2019-A, 4.00% 6/1/2043 |  | 6000 | 6052 |
| Chaffey Joint Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2012 Election, Series 2019-D, 0% 8/1/2027 |  | 895 | 797 |

---

302 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2032 | USD | 385 | $287 |
| Chino Valley Unified School Dist., G.O. Bonds, 2016 Election, Capital Appreciation Bonds, Series 2022-C, 0% 8/1/2033 |  | 430 | 306 |
| City of Chino, Community Facs. Dist. No. 2003-3, Improvement Area No. 8, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 2000 | 1888 |
| City of Chino, Community Facs. Dist. No. 2003-3, Improvement Area No. 8, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1515 | 1379 |
| City of Chino, Community Facs. Dist. No. 2003-3, Improvement Area No. 8, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1740 | 1546 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2033 |  | 260 | 265 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2035 |  | 280 | 281 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2036 |  | 290 | 287 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2037 |  | 300 | 294 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2038 |  | 315 | 306 |
| City of Chino, Community Facs. Dist. No. 2016-1 (Bickmore 185), Special Tax Bonds, Series 2020, 4.00% 9/1/2039 |  | 325 | 312 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2023 |  | 190 | 191 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2024 |  | 195 | 197 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2025 |  | 205 | 209 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2026 |  | 210 | 215 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2027 |  | 220 | 226 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2028 |  | 230 | 237 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2035 |  | 900 | 898 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2040 |  | 955 | 911 |
| City of Chino, Community Facs. Dist. No. 2019-1 (The Landings), Special Tax Bonds, Series 2020, 4.00% 9/1/2051 |  | 1145 | 1017 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2030 |  | 1010 | 1086 |
| City of Chino, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 9/1/2031 |  | 500 | 535 |
| City of Chula Vista, Community Facs. Dist. No. 16-I (Millenia), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 380 | 357 |
| City of Chula Vista, Community Facs. Dist. No. 16-I (Millenia), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 500 | 459 |
| City of Chula Vista, Community Facs. Dist. No. 16-I (Millenia), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1020 | 912 |
| City of Chula Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 10/1/2029 |  | 890 | 974 |
| City of Chula Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 920 | 1006 |
| City of Chula Vista, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 5.00% 10/1/2034 |  | 1180 | 1277 |
| City of Clovis, Wastewater Rev. Bonds, Series 2017, BAM insured, 5.00% 8/1/2036 |  | 1155 | 1261 |
| City of Clovis, Wastewater Rev. Bonds, Series 2017, BAM insured, 5.00% 8/1/2037 |  | 1150 | 1249 |
| City of Clovis, Wastewater Rev. Bonds, Series 2017, BAM insured, 5.00% 8/1/2038 |  | 515 | 557 |
| Clovis Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2006-B, National insured, 0% 8/1/2030 |  | 2300 | 1858 |
| Coachella Valley Unified School Dist., G.O. Bonds, 2005 Election, Series 2016-E, Assured Guaranty Municipal insured, 4.00% 8/1/2045 |  | 6555 | 6581 |
| Coast Community College Dist., G.O. Bonds, 2012 Election, Series 2019-F, 3.00% 8/1/2038 |  | 2500 | 2290 |
| Colton Joint Unified School Dist., G.O. Bonds, 2008 Election, Series 2016-D, BAM insured, 4.00% 8/1/2031 |  | 1200 | 1263 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 4.00% 2/1/2052 (put 8/1/2031) |  | 11790 | 11959 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2022-A-1, 4.00% 5/1/2053 (put 8/1/2028) |  | 9470 | 9620 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2023-B-1, 5.00% 7/1/2053 (put 8/1/2029) |  | 9830 | 10529 |
| Community Choice Fncg. Auth., Clean Energy Project Rev. Green Bonds, Series 2021-B-1, 5.00% 12/1/2053 (put 8/1/2029) |  | 6580 | 7029 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Fountains at Emerald Park), Series 2021-A-1, 3.00% 8/1/2056<sup>3</sup> |  | 1005 | 720 |
| Community Housing Agcy., Essential Housing Rev. Bonds (Glendale Properties), Series 2021-A-1, 4.00% 2/1/2056<sup>3</sup> |  | 9700 | 8552 |

---

American Funds Tax-Exempt Funds 303

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Community Housing Agcy., Essential Housing Rev. Bonds (Verdant at Green Valley), Series 2019-A, 5.00% 8/1/2049<sup>3</sup> | USD | 4800 | $4683 |
| Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2018-A, BAM insured, 5.00% 8/1/2032 (preref. 8/1/2026) |  | 1065 | 1170 |
| Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2018-A, BAM insured, 5.00% 8/1/2034 (preref. 8/1/2026) |  | 1355 | 1489 |
| Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2018-A, BAM insured, 5.00% 8/1/2037 (preref. 8/1/2026) |  | 1875 | 2060 |
| Compton Community College Dist., G.O. Rev. Ref. Bonds, Series 2018-A, BAM insured, 5.00% 8/1/2038 (preref. 8/1/2026) |  | 2075 | 2280 |
| Compton Unified School Dist., G.O. Bonds, 2015 Election, Series 2019-B, BAM insured, 3.00% 6/1/2049 |  | 4900 | 3831 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2035 |  | 1000 | 614 |
| Compton Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2015 Election, Series 2019-B, BAM insured, 0% 6/1/2038 |  | 1250 | 635 |
| City of Concord, Successor Agcy. to the Redev. Agcy., Rev. Ref. Bonds, Series 2014, BAM insured, 5.00% 3/1/2023 |  | 925 | 927 |
| City of Corona, Community Facs. Dist. No. 2018-1 (Bedford), Special Tax Bonds, Series 2018-A, 5.00% 9/1/2034 |  | 800 | 842 |
| City of Corona, Community Facs. Dist. No. 2018-1 (Bedford), Special Tax Bonds, Series 2018-A, 4.00% 9/1/2040 |  | 350 | 329 |
| City of Corona, Community Facs. Dist. No. 2018-1 (Bedford), Special Tax Bonds, Series 2018-A, 4.00% 9/1/2045 |  | 700 | 639 |
| City of Corona, Community Facs. Dist. No. 2018-1 (Bedford), Special Tax Bonds, Series 2018-A, 4.00% 9/1/2050 |  | 1450 | 1305 |
| Corona-Norco Unified School Dist., G.O. Bonds, 2014 Election, Series 2019-C, 4.00% 8/1/2049 |  | 2500 | 2503 |
| Cotati-Rohnert Park Unified School Dist., G.O. Bonds, 2014 Election, Series 2018-E, BAM insured, 4.00% 8/1/2043 |  | 2000 | 2015 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-A-2, 3.25% 4/1/2057<sup>3</sup> |  | 4610 | 3385 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (1818 Platinum Triangle - Anaheim), Series 2021-B, 4.00% 4/1/2057<sup>3</sup> |  | 2000 | 1463 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (City of Orange Portfolio), Series 2021-B, 4.00% 3/1/2057<sup>3</sup> |  | 2070 | 1576 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Escondido Portfolio), Series 2021-A-2, 4.00% 6/1/2058<sup>3</sup> |  | 875 | 711 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Park Crossing Apartments), Series 2021-A, 3.25% 12/1/2058<sup>3</sup> |  | 2315 | 1673 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Pasadena Portfolio), Series 2021-A-2, 3.00% 12/1/2056<sup>3</sup> |  | 5010 | 3574 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Theo - Pasadena), Series 2021-A-2, 3.25% 5/1/2057<sup>3</sup> |  | 2830 | 2127 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-1, 3.10% 7/1/2045<sup>3</sup> |  | 500 | 399 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Union South Bay), Series 2021-A-2, 4.00% 7/1/2056<sup>3</sup> |  | 5285 | 4166 |
| CSCDA Community Improvement Auth., Essential Housing Social Rev. Bonds (Westgate Phase 1 - Pasadena), Series 2021-A-2, 3.125% 6/1/2057<sup>3</sup> |  | 5665 | 4054 |
| Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 9/1/2030 |  | 225 | 230 |
| Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 9/1/2031 |  | 265 | 271 |
| Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 9/1/2032 |  | 275 | 281 |
| Del Mar Union School Dist., Community Facs. Dist. No. 99-1, Special Tax Bonds, Series 2019, 4.00% 9/1/2033 |  | 265 | 270 |
| City of Dixon, Community Facs. Dist. No. 2019-1 (Homestead), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 2715 | 2429 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2027 |  | 335 | 343 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2029 |  | 200 | 206 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2031 |  | 130 | 133 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2045 |  | 920 | 832 |
| City of Dublin, Community Facs. Dist. No. 2015-1 (Dublin Crossing), Improvement Area No. 3, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 2240 | 1962 |
| East Side Union High School Dist., G.O. Rev. Ref. Bonds, Series 2020, BAM insured, 5.00% 8/1/2023 |  | 1000 | 1013 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2013-64 (Atherton and Terracina), Special Tax Bonds, Series 2019, 5.00% 9/1/2045 |  | 850 | 881 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2013-64 (Atherton and Terracina), Special Tax Bonds, Series 2020, 4.00% 9/1/2050 |  | 1550 | 1401 |

---

304 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 4.00% 9/1/2027 | USD | 85 | $87 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 4.00% 9/1/2028 |  | 85 | 88 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 4.00% 9/1/2029 |  | 90 | 93 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 2.125% 9/1/2037 |  | 110 | 80 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 2.125% 9/1/2038 |  | 120 | 85 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 2.25% 9/1/2039 |  | 125 | 88 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 2.25% 9/1/2040 |  | 100 | 69 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2015-71 (Promontory), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 525 | 473 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area A, Special Tax Bonds, Series 2021, 4.00% 9/1/2040 |  | 1075 | 1022 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area A, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 770 | 707 |
| Eastern Municipal Water Dist., Community Facs. Dist. No. 2016-74 (Menifee Town Center), Improvement Area A, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1030 | 926 |
| Eastern Municipal Water Dist., Fin. Auth., Water and Wastewater Rev. Ref. Bonds, Series 2020-A, 4.00% 7/1/2038 |  | 1000 | 1047 |
| Educational Facs. Auth., Rev. Bonds (Art Center College of Design), Series 2018-A, 5.00% 12/1/2033 |  | 1515 | 1622 |
| Educational Facs. Auth., Rev. Bonds (Art Center College of Design), Series 2018-A, 5.00% 12/1/2034 |  | 760 | 811 |
| Educational Facs. Auth., Rev. Bonds (Art Center College of Design), Series 2018-A, 5.00% 12/1/2035 |  | 1300 | 1375 |
| Educational Facs. Auth., Rev. Bonds (Art Center College of Design), Series 2018-A, 5.00% 12/1/2036 |  | 1000 | 1052 |
| Educational Facs. Auth., Rev. Bonds (Art Center College of Design), Series 2018-A, 5.00% 12/1/2038 |  | 1140 | 1190 |
| Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2021-A, 5.00% 4/1/2029 |  | 425 | 490 |
| Educational Facs. Auth., Rev. Bonds (Chapman University), Series 2017-B, 4.00% 4/1/2047 |  | 7425 | 7316 |
| Educational Facs. Auth., Rev. Bonds (University of Redlands), Series 2022-A, 5.00% 10/1/2044 |  | 1500 | 1540 |
| Educational Facs. Auth., Rev. Bonds (University of Redlands), Series 2022-A, 5.00% 10/1/2052 |  | 4210 | 4271 |
| Educational Facs. Auth., Rev. Ref. Bonds (Chapman University), Series 2015, 5.00% 4/1/2032 |  | 2500 | 2626 |
| Educational Facs. Auth., Rev. Ref. Bonds (Loyola Marymount University), Capital Appreciation Bonds, Series 2001-A, National insured, 0% 10/1/2033 |  | 2000 | 1395 |
| Educational Facs. Auth., Rev. Ref. Bonds (Occidental College), Series 2013-A, 5.00% 10/1/2029 (preref. 10/1/2023) |  | 3265 | 3321 |
| Educational Facs. Auth., Rev. Ref. Bonds (University of the Pacific), Series 2015, 5.00% 11/1/2030 |  | 1000 | 1067 |
| Educational Facs. Auth., Rev. Ref. Bonds (University of the Pacific), Series 2015, 5.00% 11/1/2032 |  | 1975 | 2100 |
| El Camino Hospital Dist., G.O. Bonds, Capital Appreciation Bonds, Series 2006, National insured, 0% 8/1/2031 |  | 2000 | 1535 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2016, 4.00% 9/1/2032 |  | 2500 | 2530 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2032 |  | 1000 | 1070 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2033 |  | 1000 | 1069 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2018, 5.00% 9/1/2033 |  | 945 | 996 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2034 |  | 1000 | 1067 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2035 |  | 1000 | 1063 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2018, 5.00% 9/1/2035 |  | 1150 | 1200 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2036 |  | 440 | 437 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2041 |  | 1000 | 945 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2046 |  | 1280 | 1169 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2020, 4.00% 9/1/2050 |  | 1000 | 897 |
| City of Elk Grove, Fin. Auth., Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2051 |  | 1785 | 1591 |
| City of Emeryville, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 9/1/2023 |  | 1500 | 1521 |
| City of Emeryville, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 9/1/2026 |  | 2000 | 2087 |
| Enterprise Dev. Auth., Charter School Rev. Bonds (Academy for Academic Excellence Project), Series 2020-A, 5.00% 7/1/2040<sup>3</sup> |  | 500 | 499 |
| Enterprise Dev. Auth., Charter School Rev. Bonds (Academy for Academic Excellence Project), Series 2020-A, 5.00% 7/1/2050<sup>3</sup> |  | 700 | 663 |
| Enterprise Dev. Auth., Charter School Rev. Bonds (Academy for Academic Excellence Project), Series 2020-A, 5.00% 7/1/2055<sup>3</sup> |  | 600 | 559 |

---

American Funds Tax-Exempt Funds 305

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Enterprise Dev. Auth., Charter School Rev. Ref. Bonds (Rocketship Public Schools - Obligated Group No. 2), Series 2022-A, 4.00% 6/1/2027<sup>3</sup> | USD | 1125 | $1092 |
| Enterprise Dev. Auth., Charter School Rev. Ref. Bonds (Rocketship Public Schools - Obligated Group No. 2), Series 2022-A, 4.00% 6/1/2042<sup>3</sup> |  | 5165 | 4271 |
| Enterprise Dev. Auth., Student Housing Rev. Bonds (Provident Group - SDSU Properties, LLC), Series 2020-A, 5.00% 8/1/2045 |  | 600 | 620 |
| Enterprise Dev. Auth., Student Housing Rev. Bonds (Provident Group - SDSU Properties, LLC), Series 2020-A, 5.00% 8/1/2050 |  | 625 | 641 |
| Enterprise Dev. Auth., Student Housing Rev. Bonds (Provident Group - SDSU Properties, LLC), Series 2020-A, 5.00% 8/1/2055 |  | 825 | 841 |
| City of Escondido, Community Facs. Dist. No. 2020-2 (The Villages), Special Tax Bonds, Series 2022, 5.00% 9/1/2042 |  | 1000 | 1047 |
| Etiwanda School Dist., G.O. Bonds, 2016 Election, Series 2020-A, 4.00% 8/1/2045 |  | 1450 | 1459 |
| Etiwanda School Dist., G.O. Bonds, 2016 Election, Series 2017-A, 5.00% 8/1/2046 |  | 2000 | 2130 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2032 |  | 1315 | 967 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2036 |  | 2430 | 1477 |
| Etiwanda School Dist., G.O. Bonds, Capital Appreciation Bonds, 2016 Election, Series 2020-A, 0% 8/1/2037 |  | 1575 | 909 |
| Fairfield-Suisun Unified School Dist., G.O. Bonds, 2016 Election, Series 2018, 4.00% 8/1/2041 |  | 5760 | 5813 |
| City of Folsom, Folsom Ranch Fncg. Auth., Community Facs. Dist. No. 21 (White Rock Springs Ranch), Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2046 |  | 465 | 424 |
| City of Folsom, Folsom Ranch Fncg. Auth., Community Facs. Dist. No. 21 (White Rock Springs Ranch), Special Tax Rev. Bonds, Series 2021, 4.00% 9/1/2050 |  | 500 | 446 |
| City of Folsom, Folsom Ranch Fncg. Auth., Community Facs. Dist. No. 23 (Folsom Ranch), Special Tax Rev. Bonds, Series 2022, 4.25% 9/1/2037 |  | 670 | 668 |
| City of Folsom, Folsom Ranch Fncg. Auth., Community Facs. Dist. No. 23 (Folsom Ranch), Special Tax Rev. Bonds, Series 2022, 4.50% 9/1/2042 |  | 1305 | 1296 |
| City of Folsom, Folsom Ranch Fncg. Auth., Community Facs. Dist. No. 23 (Folsom Ranch), Special Tax Rev. Bonds, Series 2022, 5.00% 9/1/2052 |  | 2500 | 2540 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 1, G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2004-B, National insured, 0% 10/1/2026 |  | 1000 | 912 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 3, G.O. Bonds, 2007 Election, Series 2019-D, Assured Guaranty Municipal insured, 4.00% 10/1/2039 |  | 1000 | 1013 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 3, G.O. Bonds, 2007 Election, Series 2019-D, Assured Guaranty Municipal insured, 4.00% 10/1/2040 |  | 8715 | 8804 |
| Folsom Cordova Unified School Dist., School Facs. Improvement Dist. No. 4, G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2006-A, National insured, 0% 10/1/2031 |  | 1865 | 1434 |
| City of Fontana, Community Facs. Dist. No. 22 (Sierra Hills South), Special Tax Bonds, Series 2014, 5.00% 9/1/2030 |  | 2080 | 2127 |
| City of Fontana, Community Facs. Dist. No. 31 (Citrus Heights North), Special Tax Rev. Ref. Bonds, Series 2018, 5.00% 9/1/2034 |  | 1255 | 1335 |
| City of Fontana, Community Facs. Dist. No. 86 (Etiwanda Ridge), Special Tax Bonds, Series 2020, 4.00% 9/1/2029 |  | 130 | 135 |
| City of Fontana, Community Facs. Dist. No. 86 (Etiwanda Ridge), Special Tax Bonds, Series 2020, 4.00% 9/1/2035 |  | 100 | 101 |
| City of Fontana, Community Facs. Dist. No. 86 (Etiwanda Ridge), Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 700 | 643 |
| City of Fontana, Community Facs. Dist. No. 87 (El Paseo), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 500 | 472 |
| City of Fontana, Community Facs. Dist. No. 90 (Summit at Rosena Phase 1), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1050 | 997 |
| City of Fontana, Community Facs. Dist. No. 90 (Summit at Rosena Phase 1), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 450 | 411 |
| City of Fontana, Community Facs. Dist. No. 90 (Summit at Rosena Phase 1), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 525 | 468 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 5.00% 9/1/2026 |  | 175 | 186 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 5.00% 9/1/2027 |  | 185 | 200 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 5.00% 9/1/2028 |  | 195 | 213 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 5.00% 9/1/2029 |  | 200 | 221 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 4.25% 9/1/2037 |  | 1000 | 1011 |
| City of Fontana, Community Facs. Dist. No. 95 (Summit at Rosena Phase 2), Special Tax Bonds, Series 2022, 4.50% 9/1/2042 |  | 1000 | 1005 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2013-B-2, 3.50% 1/15/2053 |  | 3120 | 2707 |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Series 2013-B-1, 3.95% 1/15/2053 |  | 3500 | 3318 |

---

306 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Foothill/Eastern Transportation Corridor Agcy., Toll Road Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2015-A, Assured Guaranty Municipal insured, 0% 1/15/2035 | USD | 2000 | $1331 |
| City of Fremont, Community Facs. Dist. No. 1 (Pacific Commons), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2030 |  | 2220 | 2315 |
| City of Fremont, Community Facs. Dist. No. 2 (Warm Springs Public Facs.), Special Tax Bonds, Series 2019, 5.00% 9/1/2044 |  | 1000 | 1037 |
| City of Fremont, Community Facs. Dist. No. 2 (Warm Springs Public Facs.), Special Tax Bonds, Series 2019, 5.00% 9/1/2049 |  | 1550 | 1599 |
| Fresno Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, 3.00% 8/1/2055 |  | 2000 | 1535 |
| Fresno Unified School Dist., G.O. Bonds, 2020 Election, Series 2022-B, 4.00% 8/1/2055 |  | 6535 | 6545 |
| Fresno Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016-A, 4.00% 8/1/2034 |  | 3000 | 3131 |
| G.O. Bonds, Series 2020, 5.00% 3/1/2030 |  | 1000 | 1192 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2031 |  | 750 | 816 |
| G.O. Bonds, Series 2015, 5.25% 8/1/2032 |  | 1475 | 1585 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2032 |  | 310 | 337 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2034 |  | 310 | 335 |
| G.O. Bonds, Series 2020, 5.00% 3/1/2035 |  | 2500 | 2925 |
| G.O. Bonds, Series 2020, 5.00% 3/1/2036 |  | 2545 | 2939 |
| G.O. Bonds, Series 2020, 4.00% 11/1/2041 |  | 500 | 504 |
| G.O. Bonds, Series 2021, 3.00% 12/1/2046 |  | 4085 | 3499 |
| G.O. Bonds, Series 2021, 5.00% 12/1/2046 |  | 990 | 1113 |
| G.O. Bonds, Series 2020, 3.00% 11/1/2050 |  | 3850 | 3171 |
| G.O. Rev. Ref. Bonds, Series 2021, 5.00% 12/1/2030 |  | 815 | 987 |
| G.O. Rev. Ref. Bonds, Series 2020, 4.00% 3/1/2036 |  | 1790 | 1897 |
| G.O. Rev. Ref. Bonds, Series 2020, 4.00% 11/1/2040 |  | 2500 | 2582 |
| City of Garden Grove, Successor Agcy. to the Community Dev. Agcy., Tax Allocation Bonds, Series 2016, BAM insured, 5.00% 10/1/2029 |  | 1500 | 1622 |
| Gilroy Unified School Dist., G.O. Bonds, 2016 Election, Series 2021, 4.00% 8/1/2042 |  | 400 | 403 |
| City of Glendale, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Central Glendale Redev. Project), Series 2016, BAM insured, 4.00% 12/1/2023 |  | 500 | 506 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2015-A, 5.00% 6/1/2032 (preref. 6/1/2025) |  | 3250 | 3459 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2015-A, 5.00% 6/1/2033 (preref. 6/1/2025) |  | 1950 | 2075 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2005-A, AMBAC insured, 0% 6/1/2027 (escrowed to maturity) |  | 2730 | 2470 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Bonds, Series 2021-B-2, 0% 6/1/2066 |  | 10005 | 1265 |
| Golden State Tobacco Securitization Corp., Tobacco Settlement Asset-Backed Bonds, Series 2022-A-1, 5.00% 6/1/2051 |  | 2000 | 2128 |
| Golden Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2031 |  | 150 | 163 |
| Golden Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2032 |  | 160 | 173 |
| Golden Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2044 |  | 1125 | 1171 |
| Golden Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2049 |  | 1430 | 1480 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 3.00% 9/1/2024 |  | 125 | 124 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 3.00% 9/1/2025 |  | 130 | 128 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2026 |  | 135 | 137 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2027 |  | 140 | 143 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2028 |  | 145 | 148 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2029 |  | 150 | 154 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2030 |  | 155 | 157 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2032 |  | 170 | 172 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2046 |  | 470 | 424 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2051 |  | 650 | 569 |
| Golden Valley Unified School Dist., Fin. Auth., Local Agcy. Rev. Bonds, Series 2021-A, 4.00% 9/1/2056 |  | 1000 | 864 |
| Grossmont Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2008, 0% 8/1/2032 |  | 7000 | 5225 |
| Hartnell Community College Dist., G.O. Bonds, 2016 Election, Series 2017-A, 4.00% 8/1/2047 |  | 4555 | 4567 |

---

American Funds Tax-Exempt Funds 307

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Hastings Campus Housing Fin. Auth., Campus Housing Rev. Green Bonds, Series 2020-A, 5.00% 7/1/2061<sup>3</sup> | USD | 1500 | $1237 |
| Hayward Unified School Dist., G.O. Bonds, 2018 Election, Series 2020, Assured Guaranty Municipal insured, 4.00% 8/1/2050 |  | 1000 | 989 |
| Hayward Unified School Dist., G.O. Bonds, 2019 Election, Series 2019-A, BAM insured, 5.00% 8/1/2044 |  | 8000 | 8716 |
| Hayward Unified School Dist., G.O. Bonds, 2019 Election, Series 2019-A, BAM insured, 4.00% 8/1/2048 |  | 2000 | 1992 |
| Hayward Unified School Dist., G.O. Rev. Ref. Bonds, 2019 Election, Series 2019-A, BAM insured, 5.00% 8/1/2040 |  | 1000 | 1100 |
| Health Facs. Fncg. Auth., Rev. Bonds (Cedars-Sinai Medical Center), Series 2021-A, 4.00% 8/15/2048 |  | 7000 | 7021 |
| Health Facs. Fncg. Auth., Rev. Bonds (Children's Hospital of Orange County), Series 2021-A, 4.00% 11/1/2035 |  | 1365 | 1432 |
| Health Facs. Fncg. Auth., Rev. Bonds (Children's Hospital of Orange County), Series 2021-B, 4.00% 11/1/2035 |  | 1500 | 1573 |
| Health Facs. Fncg. Auth., Rev. Bonds (Children's Hospital of Orange County), Series 2021-A, 4.00% 11/1/2036 |  | 1150 | 1196 |
| Health Facs. Fncg. Auth., Rev. Bonds (CommonSpirit Health), Series 2020-A, 4.00% 4/1/2049 |  | 2000 | 1861 |
| Health Facs. Fncg. Auth., Rev. Bonds (El Camino Hospital), Series 2017, 5.00% 2/1/2025 |  | 755 | 791 |
| Health Facs. Fncg. Auth., Rev. Bonds (El Camino Hospital), Series 2017, 5.00% 2/1/2042 |  | 2500 | 2584 |
| Health Facs. Fncg. Auth., Rev. Bonds (Kaiser Permanente), Series 2017-A-2, 4.00% 11/1/2044 |  | 5000 | 5030 |
| Health Facs. Fncg. Auth., Rev. Bonds (Marshall Medical Center), Series 2020-A, 4.00% 11/1/2040 |  | 4500 | 4572 |
| Health Facs. Fncg. Auth., Rev. Bonds (Marshall Medical Center), Series 2020-A, 5.00% 11/1/2050 |  | 1000 | 1079 |
| Health Facs. Fncg. Auth., Rev. Bonds (Presbyterian Homes and Services, Inc.), Series 2015, 5.00% 7/1/2031 |  | 400 | 427 |
| Health Facs. Fncg. Auth., Rev. Bonds (Presbyterian Homes and Services, Inc.), Series 2015, 5.00% 7/1/2039 |  | 400 | 421 |
| Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2016-A, 4.00% 10/1/2034 |  | 500 | 513 |
| Health Facs. Fncg. Auth., Rev. Bonds (Providence St. Joseph Health), Series 2016-B-3, 2.00% 10/1/2036 (put 10/1/2025) |  | 1000 | 984 |
| Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2018-A, 5.00% 11/15/2035 |  | 1500 | 1633 |
| Health Facs. Fncg. Auth., Rev. Bonds (Sutter Health), Series 2018-A, 5.00% 11/15/2036 |  | 1000 | 1082 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (El Camino Hospital), Series 2015-A, 5.00% 2/1/2030 |  | 3000 | 3147 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Stanford Health Care), Series 2017-A, 5.00% 11/15/2034 |  | 2675 | 2963 |
| Health Facs. Fncg. Auth., Rev. Ref. Bonds (Sutter Health), Series 2016-B, 5.00% 11/15/2035 |  | 1000 | 1073 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2040 |  | 1500 | 1606 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2050 |  | 1500 | 1571 |
| Health Facs. Fncg. Auth., Social Rev. Bonds (On Lok Senior Health Services), Series 2020, 5.00% 8/1/2055 |  | 1500 | 1561 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2024 |  | 195 | 197 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2027 |  | 240 | 246 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2029 |  | 275 | 284 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2031 |  | 310 | 319 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2034 |  | 375 | 382 |
| Hemet Unified School Dist., Community Facs. Dist. 2005-6, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2036 |  | 225 | 224 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2024 |  | 225 | 232 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2028 |  | 1220 | 1272 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2032 |  | 540 | 559 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2033 |  | 580 | 599 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2034 |  | 350 | 361 |
| Hemet Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2039 |  | 1850 | 1890 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-A-2, 4.00% 3/20/2033 |  | 23636 | 23970 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-1, Class X, interest only, 0.29% 1/15/2035<sup>2,4</sup> |  | 13567 | 213 |
| Housing Fin. Agcy., Municipal Certs., Series 2019-A-1, 4.25% 1/15/2035 |  | 1423 | 1423 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-1, Class X, interest only, 0.844% 3/25/2035<sup>2,4</sup> |  | 18009 | 989 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-1, Class X, interest only, 0.77% 11/20/2035<sup>2,4</sup> |  | 9326 | 511 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-1, 3.50% 11/20/2035 |  | 21594 | 20938 |
| Housing Fin. Agcy., Municipal Certs., Series 2021-A-3, 3.25% 8/20/2036 |  | 6041 | 5604 |
| Imperial Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2017, 4.00% 11/1/2036 |  | 4540 | 4693 |
| Imperial Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2017, 4.00% 11/1/2041 |  | 5650 | 5702 |
| Imperial Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2016-B-2, 5.00% 11/1/2041 |  | 1425 | 1525 |
| Independent Cities Fin. Auth., Mobile Home Park Rev. Ref. Bonds (San Juan Mobile Estates), Series 2015, 5.00% 8/15/2030 |  | 2000 | 2085 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2036<sup>3</sup> |  | 360 | 375 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2041<sup>3</sup> |  | 390 | 395 |

---

308 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2046<sup>3</sup> | USD | 1790 | $1770 |
| Independent Cities Fin. Auth., Sales Tax Rev. Bonds (City of Compton), Series 2021, Assured Guaranty Municipal insured, 4.00% 6/1/2051<sup>3</sup> |  | 1075 | 1044 |
| City of Indian Wells, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Consolidated Whitewater Redev. Project Area), Series 2016-A, National insured, 4.00% 9/1/2030 |  | 1250 | 1308 |
| City of Indian Wells, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Consolidated Whitewater Redev. Project Area), Series 2016-A, National insured, 4.00% 9/1/2031 |  | 1250 | 1304 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 11/1/2039 |  | 300 | 317 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 11/1/2044 |  | 350 | 365 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2020-B, 4.00% 11/1/2045 |  | 850 | 802 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2019-B, 5.00% 11/1/2049 |  | 1625 | 1683 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2020-B, 4.00% 11/1/2050 |  | 860 | 791 |
| Infrastructure and Econ. Dev. Bank, Charter School Rev. Bonds (Equitable School Revolving Fund), Series 2020-B, 4.00% 11/1/2055 |  | 915 | 821 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Brightline West Passenger Rail Project), Series 2020-A, AMT, 3.65% 1/1/2050 (put 1/31/2024) |  | 4305 | 4305 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Stanford Consortium Project), Series 2016-A, 5.00% 5/15/2030 |  | 1080 | 1179 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Stanford Consortium Project), Series 2016-A, 5.00% 5/15/2032 |  | 1140 | 1243 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (Stanford Consortium Project), Series 2016-A, 5.00% 5/15/2033 |  | 1105 | 1203 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (The Colburn School), Series 2019, 1.75% 8/1/2055 (put 8/1/2026) |  | 4500 | 4258 |
| Infrastructure and Econ. Dev. Bank, Rev. Bonds (WFCS Portfolio Projects), Series 2021-A-1, 5.00% 1/1/2056<sup>3</sup> |  | 1380 | 1155 |
| Infrastructure and Econ. Dev. Bank, Rev. Ref. Bonds (Segerstrom Center for the Arts), Series 2016-B, 5.00% 7/1/2026 |  | 2000 | 2149 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2033 |  | 1250 | 1380 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2034 |  | 500 | 551 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2035 |  | 415 | 454 |
| City of Inglewood, Successor Agcy. to the Redev. Agcy., Tax Allocation Bonds (Merged Redev. Project), Series 2017-A, BAM insured, 5.00% 5/1/2038 |  | 1000 | 1079 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2029 |  | 230 | 252 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2030 |  | 500 | 547 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2033 |  | 500 | 544 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2034 |  | 685 | 745 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2036 |  | 800 | 862 |
| Inglewood Unified School Dist., G.O. Rev. Ref. Bonds, 2012 Election, Series 2018-B, BAM insured, 5.00% 8/1/2038 |  | 650 | 694 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 1, Special Tax Bonds, Series 2014, 5.00% 9/1/2049 |  | 1000 | 1010 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 4, Special Tax Bonds, Series 2016, 4.00% 9/1/2031 |  | 400 | 406 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 4, Special Tax Bonds, Series 2016, 4.00% 9/1/2033 |  | 1615 | 1634 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 4, Special Tax Bonds, Series 2016, 4.00% 9/1/2049 |  | 1800 | 1658 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, 5.00% 9/1/2035 |  | 550 | 583 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, 5.00% 9/1/2037 |  | 650 | 686 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, 5.00% 9/1/2038 |  | 1000 | 1054 |
| City of Irvine, Community Facs. Dist. No. 2013-3 (Great Park), Improvement Area No. 8, Special Tax Bonds, Series 2018, Assured Guaranty Municipal insured, 5.00% 9/1/2051 |  | 1250 | 1335 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2024 |  | 825 | 837 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2025 |  | 710 | 721 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2013, 5.00% 9/2/2028 |  | 1050 | 1066 |
| City of Irvine, Reassessment Dist. No. 12-1, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2030 |  | 1700 | 1775 |

---

American Funds Tax-Exempt Funds 309

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2032 | USD | 800 | $834 |
| City of Irvine, Reassessment Dist. No. 15-2, Limited Obligation Improvement Bonds, Series 2015, 5.00% 9/2/2042 |  | 1000 | 1020 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2026 |  | 330 | 356 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2027 |  | 375 | 412 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2028 |  | 525 | 587 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2029 |  | 500 | 568 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2032 |  | 680 | 766 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2034 |  | 1155 | 1288 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 4.00% 9/2/2036 |  | 1840 | 1888 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 4.00% 9/2/2037 |  | 1285 | 1310 |
| City of Irvine, Reassessment Dist. No. 19-1, Limited Obligation Improvement Bonds, Series 2019, 5.00% 9/2/2044 |  | 1000 | 1069 |
| City of Irvine, Reassessment Dist. No. 21-1, Limited Obligation Improvement Bonds, Series 2021, BAM insured, 4.00% 9/2/2046 |  | 1350 | 1355 |
| Irvine Unified School Dist., Community Facs. Dist. No. 01-1, Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 2000 | 2115 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2030 |  | 370 | 397 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2034 |  | 250 | 265 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 9/1/2034 |  | 435 | 471 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2035 |  | 250 | 264 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 9/1/2035 |  | 250 | 268 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2036 |  | 350 | 367 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 5.00% 9/1/2036 |  | 270 | 287 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2037 |  | 570 | 564 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2037 |  | 270 | 282 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2038 |  | 550 | 540 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2039 |  | 635 | 618 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2039 |  | 820 | 852 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2040 |  | 810 | 839 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-B, BAM insured, 5.00% 9/1/2042 |  | 1000 | 1034 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-C, BAM insured, 5.00% 9/1/2042 |  | 1000 | 1034 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2019-A, BAM insured, 4.00% 9/1/2044 |  | 2400 | 2410 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2018-A, BAM insured, 5.00% 9/1/2045 |  | 1500 | 1544 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-C, BAM insured, 4.00% 9/1/2053 |  | 1250 | 1133 |
| Irvine Unified School Dist., Community Facs. Dist. No. 09-1, Special Tax Bonds, Series 2017-D, BAM insured, 5.00% 3/1/2057 |  | 1665 | 1698 |
| City of Jurupa, Community Facs. Dist. No. 52 (Eastvale Area), Special Tax Bonds, Series 2021-A, 4.00% 9/1/2050 |  | 500 | 446 |
| City of Jurupa, Community Facs. Dist. No. 54 (Eastvale Area), Special Tax Bonds, Series 2021-A, 4.00% 9/1/2041 |  | 420 | 393 |
| City of Jurupa, Community Facs. Dist. No. 54 (Eastvale Area), Special Tax Bonds, Series 2021-A, 4.00% 9/1/2046 |  | 450 | 409 |
| City of Jurupa, Community Facs. Dist. No. 54 (Eastvale Area), Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051 |  | 875 | 776 |
| City of Jurupa, Community Facs. Dist. No. 55 (Eastvale Area), Special Tax Bonds, Series 2020-A, 4.00% 9/1/2045 |  | 500 | 460 |
| City of Jurupa, Community Facs. Dist. No. 55 (Eastvale Area), Special Tax Bonds, Series 2020-A, 4.00% 9/1/2050 |  | 500 | 448 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 9/1/2027 |  | 2000 | 2077 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Bonds, Series 2014-A, 5.00% 9/1/2042 |  | 1000 | 1031 |
| City of Jurupa, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2020-A, BAM insured, 4.00% 9/1/2029 |  | 1755 | 1918 |
| Jurupa Unified School Dist., Community Facs. Dist. No. 11, Special Tax Bonds, Series 2018-B, 5.00% 9/1/2043 |  | 1165 | 1210 |

---

310 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Jurupa Unified School Dist., Community Facs. Dist. No. 11, Special Tax Bonds, Series 2018-B, 5.00% 9/1/2048 | USD | 2265 | $2339 |
| Jurupa Unified School Dist., Community Facs. Dist. No. 17, Special Tax Bonds, Series 2018-A, 5.00% 9/1/2048 |  | 1815 | 1874 |
| County of Kern, RNR School Fncg. Auth., Community Facs. Dist. No. 92-1, Special Tax Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2037 |  | 1500 | 1581 |
| La Mesa-Spring Valley School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 4.00% 8/1/2046 |  | 965 | 967 |
| City of La Quinta, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area Nos. 1 and 2), Series 2013-A, 5.00% 9/1/2028 (preref. 9/1/2023) |  | 630 | 640 |
| City of La Quinta, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area Nos. 1 and 2), Series 2014-A, 5.00% 9/1/2029 (preref. 9/1/2024) |  | 1000 | 1043 |
| City of La Quinta, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area Nos. 1 and 2), Series 2014-A, 5.00% 9/1/2032 (preref. 9/1/2024) |  | 1515 | 1580 |
| City of La Quinta, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Redev. Project Area Nos. 1 and 2), Series 2014-A, 5.00% 9/1/2034 (preref. 9/1/2024) |  | 2150 | 2242 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2021, 4.00% 9/1/2042 |  | 150 | 141 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 200 | 184 |
| City of Lake Elsinore, Community Facs. Dist. No. 2006-1 (Summerly), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 500 | 449 |
| City of Lake Elsinore, Community Facs. Dist. No. 2019-1 (Westlake), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 350 | 330 |
| City of Lake Elsinore, Community Facs. Dist. No. 2019-1 (Westlake), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 450 | 412 |
| City of Lake Elsinore, Community Facs. Dist. No. 2019-1 (Westlake), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 700 | 628 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2024 |  | 645 | 664 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2025 |  | 1360 | 1429 |
| City of Lake Elsinore, Public Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2029 |  | 1370 | 1436 |
| City of Lake Elsinore, School Fncg. Auth., Special Tax Rev. Bonds, Series 2017-A, BAM insured, 5.00% 9/1/2030 |  | 500 | 560 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2035 |  | 100 | 113 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2036 |  | 170 | 191 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2037 |  | 180 | 201 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2038 |  | 150 | 167 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2039 |  | 120 | 133 |
| Lake Elsinore Unified School Dist., Community Facs. Dist. No. 2006-02, Improvement Area No. B, Special Tax Bonds, Series 2019, BAM insured, 5.00% 9/1/2047 |  | 2250 | 2465 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2040 |  | 80 | 77 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 175 | 161 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2049 |  | 425 | 385 |
| Lammersville Joint Unified School Dist., Community Facs. Dist. No. 2019-1 (Mountain House School Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2042 |  | 1500 | 1415 |
| City of Lee Lake, Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2013-A, 5.25% 9/1/2027 |  | 2000 | 2035 |
| City of Long Beach, Harbor Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2031 |  | 1210 | 1326 |
| City of Long Beach, Harbor Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2032 |  | 1750 | 1915 |
| City of Long Beach, Harbor Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2033 |  | 1350 | 1475 |
| City of Long Beach, Harbor Rev. Bonds, Series 2017-B, AMT, 5.00% 5/15/2043 |  | 500 | 518 |
| City of Long Beach, Marina Rev. Bonds (Alamitos Bay Marina Project), Series 2015, 5.00% 5/15/2034 |  | 1125 | 1165 |
| City of Long Beach, Marina Rev. Bonds (Alamitos Bay Marina Project), Series 2015, 5.00% 5/15/2045 |  | 1225 | 1249 |
| Long Beach Community College Dist., G.O. Bonds, 2016 Election, Series 2019-C, 4.00% 8/1/2045 |  | 1000 | 1006 |
| Long Beach Unified School Dist., G.O. Bonds, 2008 Election, Series 2017-E, 5.00% 8/1/2040 |  | 3655 | 3908 |
| City of Los Angeles, Community Facs. Dist. No. 11 (Ponte Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2038 |  | 1000 | 970 |
| City of Los Angeles, Community Facs. Dist. No. 11 (Ponte Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1650 | 1510 |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2026 |  | 985 | 1028 |

---

American Funds Tax-Exempt Funds 311

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2027 | USD | 1970 | $2059 |
| City of Los Angeles, Community Facs. Dist. No. 4 (Playa Vista - Phase 1), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 9/1/2028 |  | 1675 | 1754 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2029 |  | 1020 | 1146 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. and Rev. Ref. Bonds, Series 2022-C, AMT, 5.00% 5/15/2033 |  | 2500 | 2884 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2015-A, AMT, 5.00% 5/15/2027 |  | 1250 | 1312 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2015-A, AMT, 5.00% 5/15/2029 |  | 1560 | 1636 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2016-B, AMT, 5.00% 5/15/2029 |  | 1450 | 1546 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2029 |  | 2550 | 2864 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2031 |  | 4675 | 5235 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-A, AMT, 5.00% 5/15/2031 |  | 2345 | 2626 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2032 |  | 1000 | 1080 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-B, AMT, 5.00% 5/15/2032 |  | 3825 | 4209 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-C, AMT, 5.00% 5/15/2032 |  | 3450 | 3757 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2016-B, AMT, 5.00% 5/15/2033 |  | 500 | 530 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2033 |  | 1000 | 1077 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-A, AMT, 5.00% 5/15/2033 |  | 1255 | 1373 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2034 |  | 1250 | 1339 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-H, AMT, 5.00% 5/15/2034 |  | 1000 | 1144 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2035 |  | 1000 | 1065 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-A, AMT, 5.00% 5/15/2036 |  | 1345 | 1441 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2017-A, AMT, 5.00% 5/15/2037 |  | 1260 | 1328 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-A, AMT, 5.00% 5/15/2037 |  | 1450 | 1545 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% 5/15/2040 |  | 3825 | 3345 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2021-D, AMT, 3.00% 5/15/2040 (preref. 11/15/2031) |  | 175 | 176 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2018-D, AMT, 5.00% 5/15/2043 |  | 3000 | 3170 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2020-C, AMT, 5.00% 5/15/2045 |  | 1500 | 1598 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2022-H, AMT, 5.50% 5/15/2047 |  | 3750 | 4194 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Bonds, Series 2019-F, AMT, 3.00% 5/15/2049 |  | 5000 | 3937 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Green Bonds, Series 2022-G, AMT, 5.00% 5/15/2047 |  | 3000 | 3223 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2018-B, AMT, 5.00% 5/15/2033 |  | 3145 | 3445 |
| City of Los Angeles, Dept. of Airports, Los Angeles International Airport, Rev. Ref. Bonds, Series 2022-E, 4.00% 5/15/2037 |  | 685 | 715 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2021-B, 5.00% 7/1/2041 |  | 6335 | 7175 |

---

312 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2020-B, 5.00% 7/1/2045 | USD | 2025 | $2257 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2020-B, 5.00% 7/1/2050 |  | 6480 | 7160 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2021-C, 5.00% 7/1/2051 |  | 4150 | 4625 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-A, 5.00% 7/1/2051 |  | 5900 | 6575 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-B, 5.00% 7/1/2052 |  | 3840 | 4318 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2022-C, 5.00% 7/1/2052 |  | 2100 | 2349 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-B, 5.00% 7/1/2052 |  | 2500 | 2805 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-C, 5.00% 7/1/2052 |  | 3000 | 3384 |
| City of Los Angeles, Dept. of Water and Power, Water System Rev. Bonds, Series 2022-D, 5.00% 7/1/2052 |  | 2500 | 2820 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2047 |  | 905 | 933 |
| County of Los Angeles, Community Facs. Dist. No. 2021-01 (Valencia Facs.), Improvement Area No. 1, Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 1610 | 1648 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 4.00% 6/1/2035 |  | 1385 | 1502 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 4.00% 6/1/2036 |  | 1500 | 1600 |
| County of Los Angeles, Metropolitan Transportation Auth., Measure R Sales Tax Rev. Ref. Green Bonds, Series 2020-A, 4.00% 6/1/2037 |  | 1500 | 1586 |
| County of Los Angeles, Redev. Ref. Auth., Tax Allocation Rev. Ref. Bonds (Bunker Hill Project), Series 2014-C, Assured Guaranty Municipal insured, 5.00% 12/1/2027 |  | 1000 | 1050 |
| Los Angeles County Facs., Inc., Lease Rev. Bonds (Vermont Corridor County Administration Building), Series 2018-A, 5.00% 12/1/2043 |  | 1000 | 1082 |
| Los Angeles County Facs., Inc., Lease Rev. Bonds (Vermont Corridor County Administration Building), Series 2018-A, 5.00% 12/1/2051 (preref. 12/1/2028) |  | 1345 | 1546 |
| Los Angeles County Facs., Inc., Lease Rev. Bonds (Vermont Corridor County Administration Building), Series 2018-A, 5.00% 12/1/2051 |  | 910 | 977 |
| Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-RYQ, 4.00% 7/1/2044 |  | 1000 | 1017 |
| Lynwood Unified School Dist., G.O. Bonds, 2016 Election, Series 2020-B, BAM Insured, 4.00% 8/1/2049 |  | 3500 | 3504 |
| M-S-R Energy Auth., Gas Rev. Bonds, Series 2009-B, 6.50% 11/1/2039 |  | 2110 | 2652 |
| City of Menifee, Community Facs. Dist. No. 2020-1 (McCall Mesa), Special Tax Bonds, Series 2022-A, 4.00% 9/1/2029 |  | 175 | 179 |
| City of Menifee, Community Facs. Dist. No. 2020-1 (McCall Mesa), Special Tax Bonds, Series 2022-A, 4.00% 9/1/2037 |  | 500 | 487 |
| City of Menifee, Community Facs. Dist. No. 2020-1 (McCall Mesa), Special Tax Bonds, Series 2022-A, 4.00% 9/1/2051 |  | 1435 | 1290 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2024 |  | 180 | 182 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2025 |  | 190 | 193 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2026 |  | 170 | 175 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2027 |  | 205 | 212 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2039 |  | 600 | 580 |
| Menifee Union School Dist., Community Facs. Dist. No. 2006-2, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 1000 | 928 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 3, Special Tax Bonds, Series 2018, 4.00% 9/1/2032 |  | 430 | 438 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 3, Special Tax Bonds, Series 2018, 4.00% 9/1/2033 |  | 470 | 478 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 3, Special Tax Bonds, Series 2018, 4.00% 9/1/2034 |  | 515 | 521 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 500 | 497 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 800 | 755 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 9/1/2045 |  | 875 | 809 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 5, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1850 | 1657 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 6, Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 445 | 445 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 6, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 660 | 633 |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 6, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 875 | 813 |

---

American Funds Tax-Exempt Funds 313

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Menifee Union School Dist., Community Facs. Dist. No. 2011-1, Improvement Area No. 6, Special Tax Bonds, Series 2021, 4.00% 9/1/2050 | USD | 2050 | $1874 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 250 | 250 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1000 | 956 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1590 | 1486 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2021, 4.00% 9/1/2050 |  | 1050 | 962 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-2, Special Tax Bonds, Series 2021, 4.00% 9/1/2044 |  | 565 | 526 |
| Menifee Union School Dist., Community Facs. Dist. No. 2019-2, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 675 | 607 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2034 |  | 1000 | 1056 |
| Menifee Union School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, BAM insured, 5.00% 9/1/2038 |  | 1100 | 1147 |
| City of Merced, Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 2065 | 2226 |
| City of Merced, Irrigation Dist., Electric System Rev. Ref. Bonds, Series 2015-A, Assured Guaranty Municipal insured, 5.00% 10/1/2031 |  | 560 | 601 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2022-B, 5.00% 7/1/2036 |  | 2500 | 3003 |
| Monrovia Unified School Dist., G.O. Bonds, 1997 Election, Series 2001-B, National insured, 0% 8/1/2032 |  | 2150 | 1578 |
| Montebello Unified School Dist., G.O. Bonds, 2016 Election, Series 2022-B, Assured Guaranty Municipal insured, 5.00% 8/1/2050 |  | 3100 | 3398 |
| Montebello Unified School Dist., G.O. Rev. Bonds, Series 2016-A, 5.00% 8/1/2034 |  | 1095 | 1184 |
| Montebello Unified School Dist., G.O. Rev. Bonds, Series 2016-A, 5.00% 8/1/2035 |  | 1465 | 1579 |
| Montebello Unified School Dist., G.O. Rev. Bonds, Series 2016-A, 5.00% 8/1/2036 |  | 1290 | 1383 |
| Montebello Unified School Dist., G.O. Rev. Ref. Bonds, Series 2015, 5.00% 8/1/2033 |  | 2505 | 2625 |
| Monterey Peninsula Community College Dist., G.O. Rev. Ref. Bonds, Series 2016, 4.00% 8/1/2033 |  | 3165 | 3302 |
| Monterey Peninsula Community College Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2016, 0% 8/1/2028 |  | 1500 | 1289 |
| Moorpark Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2011-B, Assured Guaranty Municipal insured, 0% 8/1/2036 |  | 2000 | 1171 |
| Moreno Valley Unified School Dist., Community Facs. Dist. No. 2016-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2045 |  | 1355 | 1254 |
| Moreno Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Special Tax Bonds, Series 2019, 5.00% 9/1/2044 |  | 820 | 855 |
| Moreno Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Special Tax Bonds, Series 2019, 5.00% 9/1/2050 |  | 1500 | 1548 |
| Moreno Valley Unified School Dist., Fin. Auth. Special Tax Rev. Bonds, Series 2018-A, 5.00% 9/1/2028 |  | 1090 | 1177 |
| Moreno Valley Unified School Dist., Fin. Auth. Special Tax Rev. Bonds, Series 2018-A, 5.00% 9/1/2032 |  | 1480 | 1583 |
| Moreno Valley Unified School Dist., Fin. Auth. Special Tax Rev. Bonds, Series 2018-A, 5.00% 9/1/2034 |  | 1720 | 1834 |
| Moreno Valley Unified School Dist., Fin. Auth. Special Tax Rev. Bonds, Series 2018-A, 5.00% 9/1/2035 |  | 925 | 982 |
| City of Moreno Valley, Community Facs. Dist. No. 5, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2026 |  | 215 | 218 |
| City of Moreno Valley, Community Facs. Dist. No. 5, Special Tax Rev. Ref. Bonds, Series 2021, 4.00% 9/1/2037 |  | 750 | 734 |
| City of Morgan Hill, Successor Agcy. to the Redev. Agcy., Rev. Ref. Bonds, Series 2013-A, 5.00% 9/1/2031 |  | 3000 | 3047 |
| Mountain View School Dist., G.O. Bonds, 2016 Election, Series 2020-C, Assured Guaranty Municipal insured, 4.00% 8/1/2049 |  | 2800 | 2804 |
| Mt. Diablo Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022-B, 4.00% 8/1/2035 |  | 2310 | 2470 |
| Mt. Diablo Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022-B, 4.00% 8/1/2036 |  | 2880 | 3051 |
| Mt. Diablo Unified School Dist., G.O. Rev. Ref. Bonds, Series 2022-B, 4.00% 6/1/2037 |  | 1310 | 1375 |
| Mt. San Jacinto Community College Dist., G.O. Bonds, 2014 Election, Series 2021-C, 3.00% 8/1/2034 |  | 865 | 865 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2021, 5.00% 11/1/2027<sup>3</sup> |  | 1515 | 1593 |
| Municipal Fin. Auth., Certs. of Part. (Palomar Health), Series 2022-A, Assured Guaranty Municipal insured, 5.25% 11/1/2052 |  | 4755 | 5158 |
| Municipal Fin. Auth., Charter School Lease Rev. and Rev. Ref. Bonds (Santa Rosa Academy Project), Series 2022, 5.00% 7/1/2052 |  | 2050 | 1950 |
| Municipal Fin. Auth., Charter School Lease Rev. and Rev. Ref. Bonds (Santa Rosa Academy Project), Series 2022, 5.00% 7/1/2062 |  | 5000 | 4614 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2020-6 (County of Placer - PV 400), Special Tax Bonds, Series 2021, 4.00% 9/1/2040 |  | 1045 | 1000 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2020-6 (County of Placer - PV 400), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1305 | 1207 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2020-6 (County of Placer - PV 400), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1535 | 1391 |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% 6/1/2036 |  | 500 | 515 |

---

314 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br>(000) |
| **California (continued)** |  |  |  |
| Municipal Fin. Auth., Educational Rev. Bonds (American Heritage Education Foundation Project), Series 2016-A, 5.00% 6/1/2046 | USD | 2745 | $2782 |
| Municipal Fin. Auth., Rev. Bonds (Biola University), Series 2013, 5.00% 10/1/2042 (preref. 10/1/2023) |  | 1000 | 1016 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2016-A, 5.00% 11/1/2036<sup>3</sup> |  | 3500 | 3566 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2015-A, 5.375% 11/1/2040<sup>3</sup> |  | 2335 | 2379 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2015-A, 5.50% 11/1/2045<sup>3</sup> |  | 2800 | 2846 |
| Municipal Fin. Auth., Rev. Bonds (California Baptist University), Series 2016-A, 5.00% 11/1/2046<sup>3</sup> |  | 750 | 747 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2027 |  | 300 | 319 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2028 |  | 150 | 161 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2029 |  | 225 | 242 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2030 |  | 225 | 241 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2031 |  | 425 | 454 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2032 |  | 225 | 240 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2033 |  | 450 | 478 |
| Municipal Fin. Auth., Rev. Bonds (California Lutheran University), Series 2018, 5.00% 10/1/2034 |  | 150 | 159 |
| Municipal Fin. Auth., Rev. Bonds (Caritas Mobile Home Park), Series 2014-A, 5.25% 8/15/2049 |  | 1750 | 1782 |
| Municipal Fin. Auth., Rev. Bonds (Caritas Mobile Home Park), Series 2014-B, 5.875% 8/15/2049 |  | 490 | 495 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2023 |  | 1195 | 1195 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2025 |  | 1295 | 1283 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2033 |  | 1170 | 1097 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2035 |  | 500 | 460 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2040 |  | 2750 | 2409 |
| Municipal Fin. Auth., Rev. Bonds (Clinicas del Camino Real, Inc.), Series 2020, 4.00% 3/1/2050 |  | 8465 | 7056 |
| Municipal Fin. Auth., Rev. Bonds (Community Health Centers of the Central Coast, Inc.), Series 2021-A, 5.00% 12/1/2046<sup>3</sup> |  | 170 | 171 |
| Municipal Fin. Auth., Rev. Bonds (Community Health Centers of the Central Coast, Inc.), Series 2021-A, 5.00% 12/1/2054<sup>3</sup> |  | 170 | 169 |
| Municipal Fin. Auth., Rev. Bonds (Community Health System), Series 2021-A, Assured Guaranty Municipal insured, 4.00% 2/1/2051 |  | 5615 | 5384 |
| Municipal Fin. Auth., Rev. Bonds (HumanGood - California Obligated Group), Series 2021, 3.00% 10/1/2049 |  | 2650 | 1945 |
| Municipal Fin. Auth., Rev. Bonds (Inland Christian Home), Series 2020, 4.00% 12/1/2030 |  | 1015 | 1082 |
| Municipal Fin. Auth., Rev. Bonds (Inland Christian Home), Series 2020, 4.00% 12/1/2039 |  | 1225 | 1248 |
| Municipal Fin. Auth., Rev. Bonds (Inland Christian Home), Series 2020, 4.00% 12/1/2049 |  | 1500 | 1503 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2039<sup>3</sup> |  | 915 | 910 |
| Municipal Fin. Auth., Rev. Bonds (John Adams Academies, Inc.), Series 2019-A, 5.00% 10/1/2057<sup>3</sup> |  | 1890 | 1747 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 6/30/2025 |  | 1585 | 1650 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2031 |  | 2695 | 2909 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2034 |  | 1320 | 1400 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2035 |  | 2000 | 2099 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2043 |  | 3340 | 3412 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 4.00% 12/31/2047 |  | 3900 | 3462 |
| Municipal Fin. Auth., Rev. Bonds (LINXS APM Project), Series 2018-A, AMT, 5.00% 12/31/2047 |  | 9115 | 9237 |
| Municipal Fin. Auth., Rev. Bonds (Pomona College), Series 2017, 4.00% 1/1/2048 |  | 1550 | 1691 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2029 |  | 1000 | 1103 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2031 |  | 650 | 712 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2032 |  | 1000 | 1094 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2033 |  | 1000 | 1092 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2035 |  | 1000 | 1080 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2036 |  | 1150 | 1230 |
| Municipal Fin. Auth., Rev. Bonds (University of La Verne), Series 2017-A, 5.00% 6/1/2043 |  | 4380 | 4601 |
| Municipal Fin. Auth., Rev. Bonds (University of San Diego), Series 2019-A, 5.00% 10/1/2049 |  | 1600 | 1717 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2023 |  | 600 | 601 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2024 |  | 600 | 606 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Azusa Pacific University Project), Series 2015-B, 5.00% 4/1/2041 |  | 2500 | 2465 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 10/1/2030 |  | 750 | 803 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 10/1/2033 |  | 500 | 534 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 10/1/2034 |  | 440 | 468 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Biola University), Series 2017, 5.00% 10/1/2039 |  | 615 | 642 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-A, 5.00% 7/1/2034 |  | 2675 | 2844 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-A, 5.00% 7/1/2036 |  | 1000 | 1048 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-B, 5.00% 7/1/2036 |  | 600 | 629 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-A, 5.00% 7/1/2037 |  | 1250 | 1304 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-B, 5.00% 7/1/2037 |  | 600 | 626 |

---

American Funds Tax-Exempt Funds 315

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-A, 5.00% 7/1/2042 | USD | 1250 | $1291 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-B, 5.00% 7/1/2042 |  | 1000 | 1033 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-A, 5.00% 7/1/2047 |  | 1000 | 1026 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Eisenhower Medical Center), Series 2017-B, 5.00% 7/1/2047 |  | 4010 | 4113 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Harbor Regional Center Project), Series 2015, 5.00% 11/1/2032 |  | 1500 | 1611 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Harbor Regional Center Project), Series 2015, 5.00% 11/1/2039 |  | 1000 | 1058 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2033 |  | 1250 | 1278 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2034 |  | 775 | 791 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2035 |  | 1185 | 1203 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2036 |  | 2120 | 2143 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2037 |  | 2850 | 2875 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2039 |  | 2750 | 2765 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 4.00% 10/1/2044 |  | 300 | 300 |
| Municipal Fin. Auth., Rev. Ref. Bonds (HumanGood Obligated Group), Series 2019-A, 5.00% 10/1/2044 |  | 6500 | 6782 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Inland Regional Center Project), Series 2015, 5.00% 6/15/2032 |  | 3000 | 3193 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Inland Regional Center Project), Series 2015, 5.00% 6/15/2037 |  | 4000 | 4212 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Inland Regional Center Project), Series 2015, 5.00% 6/15/2045 |  | 4000 | 4164 |
| Municipal Fin. Auth., Rev. Ref. Bonds (Jurupa Unified School Dist. Wineville School Project), Series 2015-A, BAM insured, 5.00% 10/1/2042 |  | 4500 | 4682 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-B-2, 2.125% 11/15/2026 |  | 450 | 415 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2019, 5.00% 11/15/2039 |  | 425 | 423 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2052 |  | 1625 | 1231 |
| Municipal Fin. Auth., Senior Living Rev. Bonds (Mt. San Antonio Gardens Project), Series 2022-A, 4.00% 11/15/2056 |  | 790 | 585 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2039<sup>3</sup> |  | 1250 | 1265 |
| Municipal Fin. Auth., Social Rev. Bonds (HealthRIGHT 360), Series 2019-A, 5.00% 11/1/2049<sup>3</sup> |  | 575 | 575 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2009-A, 1.30% 2/1/2039 (put 2/3/2025)<sup>3</sup> |  | 1450 | 1390 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2022-A, AMT, 4.125% 10/1/2041 (put 10/1/2025) |  | 6990 | 7046 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2019-A, AMT, 2.40% 10/1/2044 (put 10/1/2029) |  | 6195 | 5664 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2017-A, AMT, 0.70% 12/1/2044 (put 12/1/2023) |  | 3025 | 2959 |
| Municipal Fin. Auth., Special Fin. Agcy. XII, Essential Housing Rev. Bonds (Allure Apartments), Series 2022-A-1, 3.25% 2/1/2057<sup>3</sup> |  | 2255 | 1612 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-2, 4.00% 12/1/2045<sup>3</sup> |  | 1500 | 1250 |
| Municipal Fin. Auth., Special Fin. Agcy., Essential Housing Rev. Bonds (Latitude 33), Series 2021-A-1, 3.00% 12/1/2056<sup>3</sup> |  | 300 | 214 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 3.00% 9/1/2023 |  | 110 | 109 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2024 |  | 120 | 121 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2025 |  | 145 | 146 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2026 |  | 165 | 167 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2027 |  | 190 | 194 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2028 |  | 210 | 215 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2029 |  | 240 | 246 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2030 |  | 265 | 272 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-A, 4.00% 9/1/2036 |  | 535 | 530 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2036 |  | 1920 | 1909 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-A, 4.00% 9/1/2041 |  | 655 | 620 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2041 |  | 2875 | 2731 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-A, 4.00% 9/1/2046 |  | 1095 | 1012 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2046 |  | 1475 | 1363 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-A, 4.00% 9/1/2051 |  | 1505 | 1364 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2021-C, 4.00% 9/1/2051 |  | 1995 | 1808 |
| Municipal Fin. Auth., Special Tax Rev. Bonds (Bold Program), Series 2022-A, 5.25% 9/1/2052 |  | 3725 | 3872 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis I, LLC - West Village Student Housing Project), Series 2018, 5.00% 5/15/2030 |  | 600 | 641 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis I, LLC - West Village Student Housing Project), Series 2018, 5.00% 5/15/2038 |  | 1000 | 1039 |

---

316 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis I, LLC - West Village Student Housing Project), Series 2018, 5.00% 5/15/2040 | USD | 4610 | $4759 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis I, LLC - West Village Student Housing Project), Series 2018, 5.00% 5/15/2043 |  | 5525 | 5658 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 4.00% 5/15/2041 |  | 280 | 276 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 4.00% 5/15/2046 |  | 1095 | 1050 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2051 |  | 2565 | 2050 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Davis II, LLC - Orchard Park Student Housing Project), Series 2021, BAM insured, 3.00% 5/15/2054 |  | 2570 | 2013 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside I, LLC - UCR Student Housing Project), Series 2018, 5.00% 5/15/2043 |  | 2000 | 2041 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside I, LLC - UCR Student Housing Project), Series 2018, 5.00% 5/15/2052 |  | 7500 | 7578 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside II, LLC - UCR Student Housing Project), Series 2019, 5.00% 5/15/2049 |  | 2510 | 2546 |
| Municipal Fin. Auth., Student Housing Rev. Bonds (CHF-Riverside II, LLC - UCR Student Housing Project), Series 2019, 5.00% 5/15/2052 |  | 3500 | 3542 |
| Murrieta Valley Unified School Dist., Community Facs. Dist. No. 2014-4, Special Tax Bonds, Series 2020, BAM insured, 4.00% 9/1/2040 |  | 325 | 331 |
| Murrieta Valley Unified School Dist., Community Facs. Dist. No. 2014-4, Special Tax Bonds, Series 2020, BAM insured, 4.00% 9/1/2045 |  | 1175 | 1184 |
| Murrieta Valley Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, BAM insured, 5.00% 9/1/2030 |  | 1250 | 1379 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2026 |  | 400 | 429 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2027 |  | 300 | 322 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2029 |  | 1420 | 1516 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, 5.00% 9/1/2030 |  | 1225 | 1299 |
| Murrieta Valley Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2016-A, Assured Guaranty Municipal insured, 5.00% 9/1/2033 |  | 2790 | 3041 |
| Natomas Unified School Dist., G.O. Bonds, Series 2017, BAM insured, 5.00% 8/1/2032 |  | 1000 | 1094 |
| New Haven Unified School Dist., G.O. Bonds, 2014 Election, Series 2020-C, 4.00% 8/1/2044 |  | 1250 | 1260 |
| New Haven Unified School Dist., G.O. Bonds, 2014 Election, Series 2017-B, 4.00% 8/1/2047 |  | 4000 | 4011 |
| North Orange County Community College Dist., G.O. Bonds, 2014 Election, Series 2019-B, 4.00% 8/1/2044 |  | 5000 | 5071 |
| Northern California Gas Auth. No. 1, Gas Project Rev. Bonds, Series 2007-B, (3-month USD-LIBOR + 0.67%) 3.905% 7/1/2027<sup>2</sup> |  | 4100 | 4076 |
| Oak Grove School Dist., G.O Bonds, 2022 Election, Series 2023-A-2, 5.00% 8/1/2052 |  | 3835 | 4314 |
| Oakland Unified School Dist., G.O. Bonds, 2006 Election, Series 2016-A, 5.00% 8/1/2026 |  | 3125 | 3415 |
| Oakland Unified School Dist., G.O. Bonds, 2012 Election, Series 2015-A, 5.00% 8/1/2030 |  | 1300 | 1387 |
| Oakland Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-A, Assured Guaranty Municipal insured, 4.00% 8/1/2033 |  | 4365 | 4644 |
| Oakland Unified School Dist., G.O. Bonds, 2012 Election, Series 2019-A, Assured Guaranty Municipal insured, 3.00% 8/1/2040 |  | 3000 | 2648 |
| Oakland Unified School Dist., G.O. Bonds, 8/1/2031 Election, Series 2015-A, 5.00% 8/1/2031 (preref. 8/1/2025) |  | 1500 | 1604 |
| Oakland Unified School Dist., G.O. Bonds, 8/1/2040 Election, Series 2015-A, 5.00% 8/1/2040 (preref. 8/1/2025) |  | 1650 | 1764 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2027 |  | 2000 | 2187 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2031 |  | 2145 | 2337 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds, Series 2019-A, Assured Guaranty Municipal insured, 4.00% 8/1/2035 |  | 1000 | 1042 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds (Measure J), Series 2017-C, 5.00% 8/1/2031 |  | 2015 | 2245 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds (Measure J), Series 2017-C, 5.00% 8/1/2035 |  | 3245 | 3567 |
| Oakland Unified School Dist., G.O. Rev. Ref. Bonds (Measure J), Series 2017-C, 5.00% 8/1/2036 |  | 2000 | 2187 |
| Port of Oakland, Rev. Ref. Bonds, Series 2017, AMT, 5.00% 11/1/2023 |  | 3805 | 3860 |
| Port of Oakland, Rev. Ref. Bonds, Series 2017, AMT, 5.00% 11/1/2023 (escrowed to maturity) |  | 425 | 433 |
| Port of Oakland, Rev. Ref. Bonds, Series 2017-D, AMT, 5.00% 11/1/2028 |  | 500 | 547 |
| Port of Oakland, Rev. Ref. Bonds, Series 2017-D, AMT, 5.00% 11/1/2029 |  | 250 | 273 |
| Port of Oakland, Rev. Ref. Bonds, Series 2021-H, AMT, 5.00% 11/1/2029 |  | 3050 | 3435 |
| Ohlone Community College Dist., G.O. Bonds, 2010 Election, Series 2016-C, 4.00% 8/1/2033 |  | 1000 | 1055 |
| Ohlone Community College Dist., G.O. Bonds, 2010 Election, Series 2016-C, 4.00% 8/1/2034 |  | 1000 | 1047 |
| Ohlone Community College Dist., G.O. Bonds, 2010 Election, Series 2016-C, 4.00% 8/1/2035 |  | 1000 | 1038 |
| City of Ontario, Community Facs. Dist. No. 38 (Park and Turner NE Facs.), Special Tax Rev. Ref. Bonds, Series 2019, 5.00% 9/1/2044 |  | 1000 | 1037 |

---

American Funds Tax-Exempt Funds 317

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Ontario, Community Facs. Dist. No. 38 (Park and Turner NE Facs.), Special Tax Rev. Ref. Bonds, Series 2019, 5.00% 9/1/2049 | USD | 2000 | $2064 |
| City of Ontario, Community Facs. Dist. No. 40 (Emerald Park Facs.), Special Tax Bonds, Series 2020, 4.00% 9/1/2039 |  | 275 | 261 |
| City of Ontario, Community Facs. Dist. No. 40 (Emerald Park Facs.), Special Tax Bonds, Series 2020, 4.00% 9/1/2050 |  | 785 | 695 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2029 |  | 310 | 316 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2031 |  | 335 | 342 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2037 |  | 1650 | 1605 |
| City of Ontario, Community Facs. Dist. No. 41 (Canvas Park Facs.), Special Tax Bonds, Series 2022, 4.00% 9/1/2047 |  | 2795 | 2540 |
| City of Ontario, Community Facs. Dist. No. 46 (Avenue 176 Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2045 |  | 300 | 274 |
| City of Ontario, Community Facs. Dist. No. 46 (Avenue 176 Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 500 | 445 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2023 |  | 100 | 100 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2025 |  | 225 | 228 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2027 |  | 250 | 254 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2028 |  | 250 | 254 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 500 | 485 |
| City of Ontario, Community Facs. Dist. No. 53 (Tevelde Facs.), Special Tax Bonds, Series 2021, 4.00% 9/1/2042 |  | 650 | 590 |
| City of Ontario, Community Facs. Dist. No. 54 (Esperanza Facs.), Special Tax Bonds, Series 2022, 4.375% 9/1/2043 |  | 900 | 881 |
| City of Ontario, Community Facs. Dist. No. 54 (Esperanza Facs.), Special Tax Bonds, Series 2022, 4.50% 9/1/2052 |  | 825 | 795 |
| City of Ontario, Community Facs. Dist. No. 55 (Parklane), Special Tax Bonds, Series 2022, 5.00% 9/1/2029 |  | 170 | 189 |
| City of Ontario, Community Facs. Dist. No. 55 (Parklane), Special Tax Bonds, Series 2022, 5.00% 9/1/2037 |  | 500 | 533 |
| City of Ontario, Community Facs. Dist. No. 55 (Parklane), Special Tax Bonds, Series 2022, 5.00% 9/1/2042 |  | 600 | 628 |
| City of Ontario, Community Facs. Dist. No. 55 (Parklane), Special Tax Bonds, Series 2022, 5.00% 9/1/2047 |  | 800 | 828 |
| City of Ontario, Community Facs. Dist. No. 55 (Parklane), Special Tax Bonds, Series 2022, 5.00% 9/1/2053 |  | 845 | 868 |
| City of Ontario, Community Facs. Dist. No. 57 (Neuhouse), Special Tax Bonds, Series 2022, 4.25% 9/1/2037 |  | 415 | 415 |
| City of Ontario, Community Facs. Dist. No. 57 (Neuhouse), Special Tax Bonds, Series 2022, 4.625% 9/1/2042 |  | 650 | 657 |
| City of Ontario, Community Facs. Dist. No. 57 (Neuhouse), Special Tax Bonds, Series 2022, 4.75% 9/1/2047 |  | 840 | 846 |
| City of Ontario, Community Facs. Dist. No. 57 (Neuhouse), Special Tax Bonds, Series 2022, 4.75% 9/1/2052 |  | 825 | 821 |
| County of Orange, Community Facs. Dist. No. 2004-1 (Ladera Ranch), Special Tax Rev. Ref. Bonds, Series 2014-A, 5.00% 8/15/2034 |  | 2100 | 2126 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 8/15/2029 |  | 980 | 1026 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 8/15/2033 |  | 1365 | 1424 |
| County of Orange, Community Facs. Dist. No. 2015-1 (Esencia Village), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.25% 8/15/2045 |  | 660 | 677 |
| County of Orange, Community Facs. Dist. No. 2016-1 (Esencia Village), Special Tax Bonds, Series 2016-A, 5.00% 8/15/2036 |  | 2000 | 2084 |
| County of Orange, Community Facs. Dist. No. 2017-1 (Esencia Village), Improvement Area No. 2, Special Tax Bonds, Series 2020-A, 4.00% 8/15/2045 |  | 2200 | 2016 |
| County of Orange, Community Facs. Dist. No. 2017-1 (Esencia Village), Improvement Area No. 2, Special Tax Bonds, Series 2020-A, 4.00% 8/15/2050 |  | 1000 | 894 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2042 |  | 720 | 758 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2047 |  | 970 | 1009 |
| County of Orange, Community Facs. Dist. No. 2021-1 (Rienda), Special Tax Bonds, Series 2022-A, 5.00% 8/15/2052 |  | 320 | 331 |
| Orinda Union School Dist., G.O. Bonds, 2018 Election, Measure E, Series 2022-B, 4.00% 8/1/2051 |  | 1730 | 1754 |
| Oxnard Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017-A, BAM insured, 5.00% 8/1/2036 |  | 2000 | 2183 |
| Oxnard Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017-A, BAM insured, 5.00% 8/1/2045 |  | 5160 | 5524 |
| City of Palm Desert, Community Facs. Dist. No. 2005-1 (University Park), Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2030 |  | 195 | 201 |
| City of Palm Desert, Community Facs. Dist. No. 2005-1 (University Park), Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2033 |  | 220 | 225 |
| City of Palm Desert, Community Facs. Dist. No. 2005-1 (University Park), Special Tax Rev. Ref. Bonds, Series 2021-A, 4.00% 9/1/2036 |  | 235 | 233 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 3.00% 9/1/2031 |  | 415 | 392 |
| City of Palm Desert, Community Facs. Dist. No. 2021-1 (University Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 230 | 219 |

---

318 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| City of Palm Desert, Section 29 Assessment Dist. No. 2004-02, Limited Obligation Rev. Ref. Improvement Bonds, Series 2021, 4.00% 9/2/2026 | USD | 670 | $684 |
| City of Palm Desert, Section 29 Assessment Dist. No. 2004-02, Limited Obligation Rev. Ref. Improvement Bonds, Series 2021, 4.00% 9/2/2031 |  | 800 | 822 |
| City of Palm Desert, Section 29 Assessment Dist. No. 2004-02, Limited Obligation Rev. Ref. Improvement Bonds, Series 2021, 4.00% 9/2/2037 |  | 1200 | 1182 |
| City of Palmdale, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016-B, National insured, 5.00% 9/1/2031 |  | 1000 | 1095 |
| City of Palmdale, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2016-B, National insured, 5.00% 9/1/2032 |  | 1000 | 1094 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Series 2017-A, Assured Guaranty Municipal insured, 5.00% 8/1/2041 |  | 2975 | 3195 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2012-A, Assured Guaranty Municipal insured, 0% 8/1/2032 |  | 255 | 188 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2012-A, Assured Guaranty Municipal insured, 0% 8/1/2037 |  | 1600 | 904 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 1999, Assured Guaranty Municipal insured, 0% 8/1/2038 |  | 1190 | 636 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2012-A, Assured Guaranty Municipal insured, 0% 8/1/2038 |  | 1505 | 805 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 1999, Assured Guaranty Municipal insured, 0% 8/1/2039 |  | 240 | 121 |
| Palmdale Elementary School Dist., Community Facs. Dist. No. 90-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2012-A, Assured Guaranty Municipal insured, 0% 8/1/2039 |  | 840 | 425 |
| Palomar Community College Dist., Rev. Ref. Bonds, Series 2015, 5.00% 5/1/2032 |  | 3000 | 3185 |
| Palomar Health, G.O. Rev. Ref. Bonds, Series 2016-B, 4.00% 8/1/2030 |  | 1000 | 1045 |
| Palomar Health, G.O. Rev. Ref. Bonds, Series 2016-A, 5.00% 8/1/2034 |  | 970 | 1050 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2028 |  | 3000 | 2548 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2029 |  | 6550 | 5365 |
| Palomar Pomerado Health, G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2009-A, Assured Guaranty insured, 0% 8/1/2031 |  | 3000 | 2281 |
| Pasadena Unified School Dist., G.O. Bonds, 2008 Election, Series 2016, 4.00% 8/1/2036 |  | 675 | 691 |
| Paso Robles Joint Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, BAM insured, 4.00% 9/1/2028 |  | 915 | 962 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2005-1 (West Patterson Business Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2043 |  | 600 | 557 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2005-1 (West Patterson Business Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 745 | 678 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2005-1 (West Patterson Business Park), Special Tax Bonds, Series 2021, 4.00% 9/1/2049 |  | 1780 | 1600 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2018-1 (Villages of Patterson), Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 250 | 249 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2018-1 (Villages of Patterson), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 375 | 353 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2018-1 (Villages of Patterson), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 555 | 507 |
| City of Patterson, West Patterson Fncg. Auth., Community Facs. Dist. No. 2018-1 (Villages of Patterson), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 765 | 682 |
| Peninsula Corridor Joint Powers Board, Farebox Rev. Bonds, Series 2019-A, 5.00% 10/1/2049 |  | 8035 | 8442 |
| City of Perris, Joint Powers Auth., Local Agcy. Rev. Ref. Bonds (CFD No. 2001-1 IA No. 4 and No. 5; CFD No. 2005-1 IA No. 4), Series 2017-B, 5.00% 9/1/2035 |  | 1000 | 1058 |
| City of Perris, Joint Powers Auth., Local Agcy. Rev. Ref. Bonds (CFD No. 2001-1 IA No. 4 and No. 5; CFD No. 2005-1 IA No. 4), Series 2017-B, 5.00% 9/1/2037 |  | 1325 | 1388 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2031 |  | 1325 | 1371 |
| Perris Union High School Dist., Fncg. Auth., Rev. Bonds, Series 2015, 5.00% 9/1/2034 |  | 1490 | 1537 |
| Pollution Control Fncg. Auth., Rev. Bonds (San Jose Water Co. Project), Series 2016, AMT, 4.75% 11/1/2046 |  | 11475 | 11746 |
| Pollution Control Fncg. Auth., Solid Waste Disposal Rev. Ref. Bonds (Waste Management, Inc. Project), Series 2015-B-2, AMT, 3.125% 11/1/2040 (put 11/3/2025) |  | 2000 | 1966 |
| City of Poway, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Paguay Redev. Project), Series 2015-A, 5.00% 12/15/2030 |  | 1590 | 1888 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Bonds, Series 2013, 5.00% 9/15/2030 (preref. 9/15/2023) |  | 975 | 991 |

---

American Funds Tax-Exempt Funds 319

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2030 | USD | 1345 | $1404 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-B, BAM insured, 5.00% 9/1/2030 |  | 985 | 1055 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2030 |  | 1820 | 1975 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2032 |  | 1600 | 1668 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-B, BAM insured, 5.00% 9/1/2033 |  | 1205 | 1284 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2034 |  | 995 | 1034 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2035 |  | 995 | 1030 |
| Poway Unified School Dist., Public Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2036 |  | 1490 | 1538 |
| Poway Unified School Dist., School Facs. Improvement Dist. No. 2007-1, G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2011-B, 0% 8/1/2035 |  | 3500 | 2298 |
| Public Fin. Auth., Charter School Rev. Bonds (LaVerne Elementary Preparatory Academy Project), Series 2019-A, 5.00% 6/15/2039<sup>3</sup> |  | 1370 | 1331 |
| Public Fin. Auth., Charter School Rev. Bonds (LaVerne Elementary Preparatory Academy Project), Series 2019-A, 5.00% 6/15/2049<sup>3</sup> |  | 1900 | 1766 |
| Public Fin. Auth., Reassessment Rev. Ref. Bonds, Series 2019, 5.00% 9/2/2023 |  | 1080 | 1092 |
| Public Fin. Auth., Reassessment Rev. Ref. Bonds, Series 2019, 5.00% 9/2/2027 |  | 1375 | 1494 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2017, 5.00% 10/15/2023 |  | 200 | 203 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2017, 5.00% 10/15/2037 |  | 2000 | 2066 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2017, 5.00% 10/15/2047 |  | 4025 | 4063 |
| Public Fin. Auth., Rev. Bonds (Henry Mayo Newhall Memorial Hospital), Series 2021-B, 4.00% 10/15/2051 (put 10/15/2031) |  | 690 | 689 |
| Public Fin. Auth., Rev. Bonds (Hoag Memorial Hospital Presbyterian), Series 2022-A, 5.00% 7/15/2046 |  | 1550 | 1717 |
| Public Fin. Auth., Rev. Ref. Bonds (O'Conner Woods), Series 2022, 4.00% 1/1/2025 |  | 440 | 453 |
| Public Fin. Auth., Rev. Ref. Bonds (O'Conner Woods), Series 2022, 4.00% 1/1/2030 |  | 490 | 539 |
| Public Fin. Auth., Rev. Ref. Bonds (O'Conner Woods), Series 2022, 4.00% 1/1/2043 |  | 10155 | 10365 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-3, 2.125% 11/15/2027<sup>3</sup> |  | 810 | 768 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-B-2, 2.375% 11/15/2028<sup>3</sup> |  | 750 | 707 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2036<sup>3</sup> |  | 375 | 364 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2046<sup>3</sup> |  | 395 | 355 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2051<sup>3</sup> |  | 90 | 80 |
| Public Fin. Auth., Senior Living Rev. and Rev. Ref. Green Bonds (Enso Village Project), Series 2021-A, 5.00% 11/15/2056<sup>3</sup> |  | 355 | 309 |
| Public Works Board, Lease Rev. Bonds, Series 2021-C, 4.00% 11/1/2046 |  | 3870 | 3855 |
| Public Works Board, Lease Rev. Bonds, Series 2021-C, 5.00% 11/1/2046 |  | 4680 | 5254 |
| Public Works Board, Lease Rev. Green Bonds (Dept. of General Services, Sacramento Region New Natural Resources Headquarters), Series 2021-C, 4.00% 11/1/2037 |  | 1750 | 1838 |
| Public Works Board, Lease Rev. Green Bonds (Dept. of General Services, Sacramento Region New Natural Resources Headquarters), Series 2021-C, 4.00% 11/1/2038 |  | 1500 | 1566 |
| Public Works Board, Lease Rev. Ref. Bonds (Various Capital Projects), Series 2021-A, 5.00% 2/1/2030 |  | 1000 | 1189 |
| City of Rancho Cordova, Community Facs. Dist. No. 2003-1 (Sunridge Anatolia), Special Tax Bonds, Series 2016, 4.00% 9/1/2037 |  | 500 | 495 |
| City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (The Grantline 208 Project), Special Tax Bonds, Series 2021-B, 4.00% 9/1/2036 |  | 440 | 437 |
| City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (The Grantline 208 Project), Special Tax Bonds, Series 2021-B, 4.00% 9/1/2046 |  | 1150 | 1062 |
| City of Rancho Cordova, Community Facs. Dist. No. 2018-1 (The Grantline 208 Project), Special Tax Bonds, Series 2021-B, 4.00% 9/1/2051 |  | 1220 | 1096 |
| City of Rancho Cucamonga, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Rancho Redev. Project Area), Series 2014, Assured Guaranty Municipal insured, 5.00% 9/1/2025 |  | 1500 | 1561 |
| City of Rancho Cucamonga, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Rancho Redev. Project Area), Series 2014, Assured Guaranty Municipal insured, 5.00% 9/1/2026 |  | 1000 | 1042 |
| City of Rancho Cucamonga, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Rancho Redev. Project Area), Series 2014, Assured Guaranty Municipal insured, 5.00% 9/1/2029 |  | 4065 | 4235 |
| City of Rancho Mirage, Community Facs. Dist. No. 4B (Del Webb Project), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 550 | 498 |
| City of Redding, Redev. Agcy., Tax Allocation Bonds (SHASTEC Redev. Project), Series 2006, 5.00% 9/1/2029 |  | 655 | 657 |

---

320 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| City of Redding, Redev. Agcy., Tax Allocation Bonds (SHASTEC Redev. Project), Series 2006, 5.00% 9/1/2036 | USD | 1585 | $1646 |
| City of Redding, Wastewater System Rev. Ref. Bonds, Series 2020, 5.00% 6/1/2032 |  | 620 | 733 |
| City of Redding, Wastewater System Rev. Ref. Bonds, Series 2020, 5.00% 6/1/2033 |  | 465 | 547 |
| City of Rialto, Community Facs. Dist. No. 2019-2 (Foothill/Spruce), Special Tax Bonds, Series 2022, 4.25% 9/1/2042 |  | 770 | 749 |
| City of Richmond, Wastewater Rev. Ref. Bonds, Series 2019-B, 5.00% 8/1/2032 |  | 1360 | 1583 |
| City of Richmond, Wastewater Rev. Ref. Bonds, Series 2019-B, 5.00% 8/1/2034 |  | 1505 | 1737 |
| Rio Elementary School Dist., Community Facs. Dist. No. 1, Special Tax Bonds, Series 2013, 5.50% 9/1/2039 (preref. 9/1/2023) |  | 725 | 738 |
| Rio Hondo Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2010-C, 0% 8/1/2028 |  | 1000 | 867 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series 2019-A, 5.00% 9/1/2043 |  | 3035 | 3080 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements), Special Tax Bonds, Series 2019-A, 5.00% 9/1/2048 |  | 6000 | 6037 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2003-1 (Public Improvements, Special Tax Rev. Ref. Bonds, Series 2022-A-1, Assured Guaranty Municipal insured, 5.25% 9/1/2052 |  | 3000 | 3306 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2019-1 (Public Improvements), Special Tax Bonds, Series 2019, 5.00% 9/1/2040 |  | 4685 | 4670 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2026 |  | 380 | 385 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2027 |  | 430 | 435 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2029 |  | 250 | 252 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2033 |  | 590 | 593 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2041 |  | 750 | 663 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2046 |  | 455 | 392 |
| River Islands Public Fncg. Auth., Community Facs. Dist. No. 2021-1 (Public Improvements), Special Tax Bonds, Series 2021-1, 4.00% 9/1/2051 |  | 1400 | 1176 |
| City of Riverside, Sewer Rev. Bonds, Series 2015-A, 5.00% 8/1/2031 |  | 2500 | 2673 |
| County of Riverside, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds (Jurupa Valley Redev. Project Area), Series 2015-B, Assured Guaranty Municipal insured, 5.00% 10/1/2028 |  | 2000 | 2137 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds, Series 2021-B-2, 3.00% 6/1/2044 |  | 1894 | 1557 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds, Series 2021-B-2, 3.00% 6/1/2048 |  | 2288 | 1805 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds, Series 2021-B-1, BAM insured, 3.00% 6/1/2049 |  | 5750 | 4694 |
| County of Riverside, Transportation Commission, Toll Rev. Ref. Bonds (RCTC 91 Express Lanes), Series 2021-B-1, 4.00% 6/1/2046 |  | 1520 | 1489 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2032 |  | 1100 | 1162 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2033 |  | 2315 | 2444 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2034 |  | 1500 | 1582 |
| Riverside Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2015, BAM insured, 5.00% 9/1/2035 |  | 890 | 936 |
| Riverside Unified School Dist., Special Tax Bonds, Series 2021, 4.00% 9/1/2045 |  | 375 | 344 |
| Riverside Unified School Dist., Special Tax Bonds, Series 2021, 4.00% 9/1/2050 |  | 600 | 535 |
| Robla School Dist., G.O. Bonds, 2018 Election, Series 2019-A, Assured Guaranty Municipal insured, 5.00% 8/1/2044 |  | 1720 | 1854 |
| Romoland School Dist., Community Facs. Dist. No. 2004-1 (Heritage Lake), Improvement Area No. 4, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2038 |  | 550 | 532 |
| Romoland School Dist., Community Facs. Dist. No. 2004-1 (Heritage Lake), Improvement Area No. 4, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2045 |  | 750 | 686 |
| Romoland School Dist., Community Facs. Dist. No. 2006-1 (Brendle Mills), Special Tax Bonds, Series 2017, 5.00% 9/1/2039 |  | 990 | 1032 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2027 |  | 250 | 271 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2028 |  | 360 | 389 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2031 |  | 830 | 888 |

---

American Funds Tax-Exempt Funds 321

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2034 | USD | 855 | $908 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2035 |  | 1140 | 1202 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2037 |  | 1000 | 1045 |
| Romoland School Dist., Community Facs. Dist. No. 91-1, Special Tax Bonds, Series 2017, 5.00% 9/1/2041 |  | 1255 | 1294 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 3.00% 9/1/2023 |  | 85 | 85 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 3.00% 9/1/2024 |  | 95 | 94 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 3.00% 9/1/2025 |  | 110 | 108 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2026 |  | 125 | 128 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2027 |  | 145 | 149 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2028 |  | 165 | 170 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2029 |  | 185 | 191 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2030 |  | 205 | 211 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1215 | 1154 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1145 | 1052 |
| City of Roseville, Community Facs. Dist. No. 1 (Creekview), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 2815 | 2530 |
| City of Roseville, Community Facs. Dist. No. 1 (The Fountains), Special Tax Rev. Ref. Bonds, Series 2016, 5.00% 9/1/2038 |  | 1650 | 1711 |
| City of Roseville, Community Facs. Dist. No. 1 (Villages at Sierra Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2037 |  | 220 | 216 |
| City of Roseville, Community Facs. Dist. No. 1 (Villages at Sierra Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 305 | 290 |
| City of Roseville, Community Facs. Dist. No. 1 (Villages at Sierra Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1040 | 955 |
| City of Roseville, Community Facs. Dist. No. 1 (Villages at Sierra Vista), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 710 | 637 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2023 |  | 1000 | 1011 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2024 |  | 1005 | 1036 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2026 |  | 500 | 527 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2027 |  | 230 | 242 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2028 |  | 1000 | 1053 |
| City of Roseville, Community Facs. Dist. No. 1 (Westpark), Special Tax Rev. Ref. Bonds, Series 2015, 5.00% 9/1/2030 |  | 500 | 522 |
| City of Roseville, Community Facs. Dist. No. 5 (Fiddyment Ranch), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 750 | 722 |
| City of Roseville, Natural Gas Fncg. Auth., Gas Rev. Bonds, Series 2007, 5.00% 2/15/2024 |  | 3300 | 3349 |
| City of Sacramento, Community Facs. Dist. No. 2006-02 (Natomas Central), Special Tax Bonds, Series 2016, 5.00% 9/1/2041 |  | 235 | 242 |
| City of Sacramento, Community Facs. Dist. No. 2006-02 (Natomas Central), Special Tax Bonds, Series 2016, 5.00% 9/1/2046 |  | 1750 | 1789 |
| City of Sacramento, Community Facs. Dist. No. 2015-04 (McKinley Village Improvements), Special Tax Bonds, Series 2020, BAM insured, 4.00% 9/1/2040 |  | 1100 | 1122 |
| City of Sacramento, Community Facs. Dist. No. 2015-04 (McKinley Village Improvements), Special Tax Bonds, Series 2020, BAM insured, 4.00% 9/1/2046 |  | 2850 | 2876 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 2, Special Tax Bonds, Series 2022, 5.50% 9/1/2052 |  | 260 | 266 |
| City of Sacramento, Community Facs. Dist. No. 2019-01 (Delta Shores), Improvement Area No. 2, Special Tax Bonds, Series 2022, 5.75% 9/1/2052 |  | 630 | 655 |
| City of Sacramento, Community Facs. Dist. No. 4 (North Natomas), Special Tax Rev. Ref. Bonds, Series 2013-E, 5.00% 9/1/2030 |  | 1250 | 1263 |
| City of Sacramento, Municipal Utility Dist., Electric Rev. Bonds, Series 2013-A, 5.00% 8/15/2041 |  | 2000 | 2024 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2028 |  | 1455 | 1605 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2033 |  | 3000 | 3276 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2034 |  | 3000 | 3254 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2018-C, AMT, 5.00% 7/1/2035 |  | 4000 | 4299 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2036 |  | 1000 | 1064 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2020, BAM insured, 4.00% 7/1/2037 |  | 2400 | 2470 |
| County of Sacramento, Airport System Rev. Ref. Bonds, Series 2016-B, 5.00% 7/1/2041 |  | 400 | 415 |
| County of Sacramento, Community Facs. Dist. No. 2005-2 (North Vineyard Station No. 1), Special Tax Bonds, Series 2016, 5.00% 9/1/2040 |  | 1090 | 1121 |

---

322 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| County of Sacramento, Community Facs. Dist. No. 2014-2 (North Vineyard Station No. 2), Special Tax Bonds, Series 2021, 4.00% 9/1/2036 | USD | 530 | $527 |
| County of Sacramento, Community Facs. Dist. No. 2014-2 (North Vineyard Station No. 2), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 650 | 617 |
| Sacramento Area Flood Control Agcy., Consolidated Capital Assessment Dist. No. 2, Rev. Bonds, Series 2016-A, 5.00% 10/1/2041 |  | 1000 | 1065 |
| Sacramento Unified School Dist., G.O. Bonds, 2012 Election, Series 2022-A, BAM insured, 5.50% 8/1/2047 |  | 1940 | 2225 |
| Sacramento Unified School Dist., G.O. Bonds, 2020 Election, Series 2022-A, BAM insured, 5.00% 8/1/2036 |  | 340 | 389 |
| Sacramento Unified School Dist., G.O. Bonds, 2020 Election, Series 2022-A, BAM insured, 5.50% 8/1/2052 |  | 8000 | 9126 |
| Sacramento Unified School Dist., G.O. Bonds, 2021 Election, Series 2021-G, Assured Guaranty Municipal insured, 4.00% 8/1/2044 |  | 1315 | 1328 |
| Sacramento Unified School Dist., G.O. Bonds, 2021 Election, Series 2021-G, Assured Guaranty Municipal insured, 4.00% 8/1/2049 |  | 4190 | 4198 |
| Sacramento Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2007, Assured Guaranty Municipal insured, 0% 7/1/2028 |  | 4575 | 3932 |
| County of San Bernardino and Cities of Colton, Loma Linda and San Bernardino, Successor Agcy. to the Inland Valley Dev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2014-A, 5.00% 9/1/2044 |  | 3750 | 3806 |
| County of San Bernardino, Community Facs. Dist. No. 2006-1 (Lytle Creek North), Improvement Area No. 1, Special Tax Bonds, Series 2015, 5.00% 9/1/2040 |  | 1000 | 1022 |
| County of San Bernardino, Community Facs. Dist. No. 2006-1 (Lytle Creek North), Improvement Area No. 6, Special Tax Bonds, Series 2018, 5.00% 9/1/2043 |  | 1860 | 1933 |
| County of San Bernardino, Community Facs. Dist. No. 2006-1 (Lytle Creek North), Improvement Area No. 6, Special Tax Bonds, Series 2018, 5.00% 9/1/2048 |  | 1775 | 1833 |
| San Bernardino Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017-D, Assured Guaranty Municipal insured, 4.00% 8/1/2042 |  | 2175 | 2199 |
| City of San Clemente, Community Facs. Dist. No. 2006-1 (Marblehead Coastal), Special Tax Bonds, Series 2015, 5.00% 9/1/2030 |  | 245 | 256 |
| City of San Clemente, Community Facs. Dist. No. 2006-1 (Marblehead Coastal), Special Tax Bonds, Series 2015, 5.00% 9/1/2031 |  | 480 | 501 |
| City of San Clemente, Community Facs. Dist. No. 2006-1 (Marblehead Coastal), Special Tax Bonds, Series 2015, 5.00% 9/1/2032 |  | 480 | 500 |
| City of San Diego, Community Facs. Dist. No. 4 (Black Mountain Ranch Villages), Special Tax Bonds, Series 2016, 5.00% 9/1/2037 |  | 970 | 1008 |
| City of San Diego, Public Facs. Fncg. Auth., Water Rev. Bonds, Series 2020-A, 4.00% 8/1/2045 |  | 1000 | 1016 |
| City of San Diego, Public Facs. Fncg. Auth., Water Rev. Ref. Bonds, Series 2016-B, 5.00% 8/1/2038 |  | 2820 | 3044 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2032 |  | 125 | 129 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2032 |  | 100 | 103 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2033 |  | 100 | 103 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2034 |  | 265 | 271 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2034 |  | 100 | 102 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2035 |  | 125 | 127 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2036 |  | 635 | 638 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2036 |  | 170 | 171 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2037 |  | 175 | 175 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2038 |  | 855 | 852 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2039 |  | 410 | 405 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2040 |  | 475 | 465 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2040 |  | 100 | 98 |

---

American Funds Tax-Exempt Funds 323

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2045 | USD | 1000 | $939 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2045 |  | 550 | 517 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2050 |  | 1100 | 1006 |
| County of San Diego, Community Facs. Dist. No. 2008-1 (Harmony Grove Village), Improvement Area No. 1, Special Tax Bonds, Series 2020-A, 4.00% 9/1/2050 |  | 1000 | 914 |
| County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 4.00% 7/1/2037 |  | 1000 | 1018 |
| County of San Diego, Regional Airport Auth., Airport Rev. and Rev. Ref. Bonds, Series 2019-A, 5.00% 7/1/2044 |  | 8965 | 9614 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2026 |  | 760 | 810 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2027 |  | 750 | 812 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2029 |  | 1595 | 1776 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2030 |  | 1785 | 1986 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2033 |  | 2280 | 2522 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-A, 5.00% 7/1/2035 |  | 1000 | 1092 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-B, AMT, 5.00% 7/1/2035 |  | 2495 | 2650 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-B, AMT, 5.00% 7/1/2036 |  | 750 | 792 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-B, AMT, 5.00% 7/1/2037 |  | 750 | 790 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-B, AMT, 5.00% 7/1/2042 |  | 1500 | 1560 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2013-B, AMT, 5.00% 7/1/2043 (preref. 7/1/2023) |  | 2000 | 2019 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2017-B, AMT, 5.00% 7/1/2047 |  | 1000 | 1033 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2019-B, AMT, 5.00% 7/1/2049 |  | 3375 | 3519 |
| County of San Diego, Regional Airport Auth., Airport Rev. Bonds, Series 2021-A, 4.00% 7/1/2056 |  | 795 | 775 |
| County of San Diego, Regional Airport Auth., Airport Rev. Ref. Bonds, Series 2020-B, 5.00% 7/1/2035 |  | 1000 | 1148 |
| County of San Diego, Regional Transportation Commission, Limited Sales Tax Rev. Green Bonds, Series 2020-A, 4.00% 4/1/2048 |  | 3000 | 3045 |
| San Diego Unified School Dist., G.O. Bonds, 7/1/2035 Election, Series 2013-C, 5.00% 7/1/2035 (preref. 7/1/2023) |  | 2000 | 2022 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2016-SR-1, 4.00% 7/1/2031 |  | 4000 | 4218 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2016-SR-1, 4.00% 7/1/2032 |  | 1000 | 1049 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2008 Election, Series 2012-E, 0% 7/1/2034 |  | 3000 | 2103 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2012 Election, Series 2017-I, 4.00% 7/1/2047 |  | 2000 | 2005 |
| San Diego Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2012 Election, Series 2020-M-2, 3.00% 7/1/2050 |  | 5000 | 4000 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2016-B-2, AMT, 5.00% 5/1/2046 |  | 4000 | 4103 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2018-E-2, 5.00% 5/1/2048 |  | 2380 | 2533 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-A-2, AMT, 5.00% 5/1/2049 |  | 4000 | 4167 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-E-2, AMT, 4.00% 5/1/2050 |  | 2000 | 1936 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-E-2, AMT, 5.00% 5/1/2050 |  | 15630 | 16250 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Bonds, Series 2019-F-2, 5.00% 5/1/2050 |  | 1990 | 2141 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2021-A-2, AMT, 5.00% 5/1/2036 |  | 6750 | 7451 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2020-A-2, AMT, 5.00% 5/1/2037 |  | 4000 | 4349 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2019-A-2, AMT, 5.00% 5/1/2044 |  | 3000 | 3152 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2019-E-2, AMT, 5.00% 5/1/2045 |  | 4125 | 4325 |
| City and County of San Francisco, Airport Commission, San Francisco International Airport, Rev. Ref. Bonds, Series 2022-A-2, AMT, 5.00% 5/1/2052 |  | 3000 | 3158 |
| City and County of San Francisco, Certs. of Part. (Moscone Convention Center Expansion Project), Series 2017-B, 4.00% 4/1/2038 |  | 2000 | 2022 |

---

324 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| City and County of San Francisco, Community Facs. Dist. No. 2014-1 (Transbay Transit Center), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2042 | USD | 1000 | $1104 |
| City and County of San Francisco, Community Facs. Dist. No. 2014-1 (Transbay Transit Center), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2047 |  | 1060 | 1155 |
| City and County of San Francisco, Community Facs. Dist. No. 2014-1 (Transbay Transit Center), Special Tax Bonds, Series 2022-A, 5.00% 9/1/2052 |  | 640 | 693 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1950 | 1843 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1745 | 1591 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 1, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1035 | 921 |
| City and County of San Francisco, Community Facs. Dist. No. 2016-1 (Treasure Island), Improvement Area No. 2, Special Tax Bonds, Series 2022-A, 4.00% 9/1/2052<sup>3</sup> |  | 1500 | 1324 |
| City and County of San Francisco, G.O. Bonds (Earthquake Safety and Emergency Response), Series 2021-E-1, 4.00% 6/15/2043 |  | 3445 | 3502 |
| City and County of San Francisco, Infrastructure and Revitalization Fncg. Dist. No. 1 (Treasure Island), Tax Increment Rev. Bonds, Series 2022-A, 5.00% 9/1/2032<sup>3</sup> |  | 500 | 549 |
| City and County of San Francisco, Infrastructure and Revitalization Fncg. Dist. No. 1 (Treasure Island), Tax Increment Rev. Bonds, Series 2022-A, 5.00% 9/1/2037<sup>3</sup> |  | 500 | 521 |
| City and County of San Francisco, Infrastructure and Revitalization Fncg. Dist. No. 1 (Treasure Island), Tax Increment Rev. Bonds, Series 2022-A, 5.00% 9/1/2052<sup>3</sup> |  | 2000 | 2000 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2020-D, 3.00% 11/1/2050 |  | 1615 | 1276 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2020-A, 4.00% 11/1/2050 |  | 2000 | 2003 |
| City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2020-C, 4.00% 11/1/2050 |  | 1000 | 1002 |
| City and County of San Francisco, Public Utilities Commission, Wastewater Rev. Green Bonds, Series 2016-A, 4.00% 10/1/2037 |  | 6575 | 6719 |
| City and County of San Francisco, Public Utilities Commission, Wastewater Rev. Green Bonds, Series 2021-A, 4.00% 10/1/2050 |  | 5000 | 5010 |
| City and County of San Francisco, Redev. Fin. Auth., Tax Allocation Rev. Bonds (Mission Bay South Redev. Project), Series 2016-B, 5.00% 8/1/2031 |  | 425 | 461 |
| City and County of San Francisco, Redev. Fin. Auth., Tax Allocation Rev. Bonds (Mission Bay South Redev. Project), Series 2016-C, 5.00% 8/1/2033 |  | 1000 | 1081 |
| City and County of San Francisco, Redev. Fin. Auth., Tax Allocation Rev. Bonds (Mission Bay South Redev. Project), Series 2016-C, National insured, 5.00% 8/1/2041 |  | 2100 | 2207 |
| City and County of San Francisco, Redev. Fin. Auth., Tax Allocation Rev. Bonds (Mission Bay South Redev. Project), Series 2014-A, 5.00% 8/1/2043 |  | 2100 | 2172 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2026<sup>3</sup> |  | 130 | 131 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2041<sup>3</sup> |  | 585 | 535 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2046<sup>3</sup> |  | 2475 | 2166 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051<sup>3</sup> |  | 5675 | 4791 |
| City and County of San Francisco, Special Tax Dist. No. 2020-1 (Mission Rock Facs. and Services), Dev. Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051<sup>3</sup> |  | 1550 | 1309 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 6 (Mission Bay South Public Improvements), Special Tax Rev. Ref. Bonds, Series 2013-A, 5.00% 8/1/2024 |  | 1510 | 1515 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 6 (Mission Bay South Public Improvements), Special Tax Rev. Ref. Bonds, Series 2013-A, 5.00% 8/1/2028 |  | 1400 | 1415 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 4.00% 8/1/2023 |  | 105 | 105 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2025 |  | 220 | 226 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2028 |  | 360 | 370 |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2029 |  | 595 | 611 |

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American Funds Tax-Exempt Funds 325

The Tax-Exempt Fund of California (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| City and County of San Francisco, Successor Agcy. to the Redev. Agcy., Community Facs. Dist. No. 7 (Hunters Point Shipyard Phase 1 Improvements), Special Tax Rev. Ref. Bonds, Series 2014, 5.00% 8/1/2030 | USD | 460 | $472 |
| City of San Francisco, Bay Area Rapid Transit Dist., G.O. Green Bonds, 2016 Election, Series 2020-C-1, 4.00% 8/1/2045 |  | 2000 | 2023 |
| City of San Francisco, Bay Area Rapid Transit Dist., G.O. Green Bonds, 2016 Election, Series 2020-C-1, 3.00% 8/1/2050 |  | 10690 | 8700 |
| San Francisco Community College Dist., G.O. Bonds, 2020 Election, Series 2020-A, 4.00% 6/15/2045 |  | 5500 | 5506 |
| San Jacinto Unified School Dist., Community Facs. Dist. No. 2003-1, Special Tax Rev. Bonds (Infrastructure Projects), Series 2022, 4.00% 9/1/2050 |  | 875 | 777 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2028 |  | 380 | 412 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2030 |  | 200 | 216 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2031 |  | 550 | 592 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2019, 5.00% 9/1/2033 |  | 750 | 802 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2017, 5.00% 9/1/2034 |  | 765 | 804 |
| San Jacinto Unified School Dist., Fncg. Auth., Special Tax Rev. Ref. Bonds, Series 2017, 5.00% 9/1/2035 |  | 200 | 210 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, AMT, BAM insured, 5.00% 3/1/2029 |  | 1030 | 1145 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2021-A, AMT, BAM insured, 5.00% 3/1/2033 |  | 1500 | 1694 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 3/1/2035 |  | 1000 | 1060 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 3/1/2037 |  | 1000 | 1050 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 3/1/2041 |  | 1500 | 1560 |
| City of San Jose, Airport Rev. Ref. Bonds, Series 2017-A, AMT, 5.00% 3/1/2047 |  | 10000 | 10310 |
| San Jose Unified School Dist., G.O. Bonds, 2012 Election, Series 2018-E, 4.00% 8/1/2042 |  | 5000 | 5071 |
| San Juan Unified School Dist., G.O. Bonds, 2016 Election, Series 2020, 4.00% 8/1/2034 |  | 1000 | 1063 |
| San Leandro Unified School Dist., G.O. Bonds, Series 2019-B, BAM insured, 5.00% 8/1/2032 |  | 375 | 429 |
| San Leandro Unified School Dist., G.O. Bonds, Series 2019-B, BAM insured, 5.00% 8/1/2033 |  | 355 | 404 |
| San Leandro Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, BAM insured, 4.00% 8/1/2043 |  | 1300 | 1316 |
| San Lorenzo Valley Unified School Dist., G.O. Bonds, 2020 Election, Series 2020-A, 4.00% 8/1/2045 |  | 250 | 251 |
| City of San Luis Obispo, Community Facs. Dist. No. 2019-1 (San Luis Ranch), Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 730 | 668 |
| City of San Luis Obispo, Community Facs. Dist. No. 2019-1 (San Luis Ranch), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 925 | 830 |
| City of San Marcos, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, 5.00% 10/1/2023 |  | 900 | 914 |
| City of San Marcos, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, 5.00% 10/1/2024 |  | 150 | 156 |
| City of San Marcos, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, 5.00% 10/1/2029 |  | 2000 | 2137 |
| San Marcos Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 8/1/2034 |  | 2115 | 2345 |
| San Marcos Unified School Dist., G.O. Rev. Ref. Bonds, Series 2017, 5.00% 8/1/2035 |  | 1280 | 1410 |
| San Rafael High School Dist., G.O. Bonds, Series 2019-C, 4.00% 8/1/2043 |  | 2500 | 2535 |
| City of San Ramon, Successor Agcy. to the Redev. Agcy., Tax Allocation Rev. Ref. Bonds, Series 2015-A, BAM insured, 5.00% 2/1/2038 |  | 2000 | 2080 |
| Sanger Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-C, BAM insured, 3.00% 8/1/2048 |  | 2465 | 1995 |
| Sanger Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 3.00% 8/1/2051 |  | 3325 | 2634 |
| Sanger Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-A, BAM insured, 4.00% 8/1/2055 |  | 1650 | 1645 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2023<sup>3</sup> |  | 130 | 130 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2024<sup>3</sup> |  | 150 | 151 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2025<sup>3</sup> |  | 175 | 178 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2026<sup>3</sup> |  | 200 | 205 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2028<sup>3</sup> |  | 250 | 259 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2030<sup>3</sup> |  | 110 | 112 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2035<sup>3</sup> |  | 685 | 688 |
| City of Santa Clarita, Community Facs. Dist. No. 2016-1 (Vista Canyon), Special Tax Bonds, Series 2020, 4.00% 9/1/2050<sup>3</sup> |  | 5820 | 5262 |
| Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 9/1/2026 |  | 835 | 862 |

---

326 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Santa Margarita Water Dist., Community Facs. Dist. No. 99-1 (Talega), Special Tax Rev. Ref. Bonds, Series 2014-B, 5.00% 9/1/2038 | USD | 460 | $468 |
| City of Santa Monica, Redev. Agcy., Tax Allocation Bonds (Earthquake Recovery Redev. Project), Series 2011, 5.00% 7/1/2032 |  | 2000 | 2007 |
| City of Santa Monica, Redev. Agcy., Tax Allocation Bonds (Earthquake Recovery Redev. Project), Series 2011, 5.875% 7/1/2036 |  | 1250 | 1255 |
| City of Santa Monica, Redev. Agcy., Tax Allocation Bonds (Earthquake Recovery Redev. Project), Series 2011, 5.875% 7/1/2042 |  | 2500 | 2510 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 5.00% 9/1/2027 |  | 195 | 213 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 5.00% 9/1/2028 |  | 205 | 225 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 5.00% 9/1/2034 |  | 350 | 378 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 3.00% 9/1/2036 |  | 250 | 222 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 3.00% 9/1/2037 |  | 185 | 161 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 3.00% 9/1/2038 |  | 270 | 231 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 3.125% 9/1/2039 |  | 165 | 142 |
| City of Santee, Community Facs. Dist. No. 2017-1 (Weston Infrastructure), Special Tax Bonds, Series 2019, 5.00% 9/1/2049 |  | 1940 | 2012 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2029 |  | 135 | 141 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2033 |  | 215 | 220 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2034 |  | 230 | 233 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2035 |  | 240 | 241 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2036 |  | 275 | 273 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2037 |  | 295 | 290 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2038 |  | 320 | 312 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2039 |  | 345 | 335 |
| Saugus Union School Dist., Community Facs. Dist. No. 2019-1, Special Tax Bonds, Series 2020, 4.00% 9/1/2040 |  | 295 | 280 |
| Saugus Union School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2021-A, BAM insured, 4.00% 9/1/2035 |  | 600 | 632 |
| Saugus Union School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2021-A, BAM insured, 4.00% 9/1/2039 |  | 700 | 718 |
| Saugus Union School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2021-A, BAM insured, 4.00% 9/1/2041 |  | 275 | 279 |
| Saugus Union School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2021-A, BAM insured, 4.00% 9/1/2049 |  | 1250 | 1252 |
| Saugus Union School Dist., Saugus/Hart School Facs. Fin. Auth., Community Facs. Dist. No. 2006-1, Special Tax Rev. Bonds, Series 2016, 5.00% 9/1/2033 |  | 1240 | 1295 |
| School Fin. Auth., Charter School Rev. Bonds (Aspire Public Schools Obligated Group - Issue No. 5), Series 2021-A, 4.00% 8/1/2051<sup>3</sup> |  | 800 | 696 |
| School Fin. Auth., Charter School Rev. Bonds (Aspire Public Schools Obligated Group - Issue No. 5), Series 2021-A, 4.00% 8/1/2061<sup>3</sup> |  | 2275 | 1908 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% 10/1/2042<sup>3</sup> |  | 1000 | 1053 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Oceanside Project), Series 2022-A, 5.00% 10/1/2061<sup>3</sup> |  | 2025 | 2056 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 4.00% 10/1/2027<sup>3</sup> |  | 750 | 763 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 5.00% 10/1/2032<sup>3</sup> |  | 2500 | 2662 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 5.00% 10/1/2037<sup>3</sup> |  | 1485 | 1546 |
| School Fin. Auth., Charter School Rev. Bonds (Classical Academies Project), Series 2017-A, 5.00% 10/1/2044<sup>3</sup> |  | 2805 | 2875 |
| School Fin. Auth., Charter School Rev. Bonds (Downtown College Prep Obligated Group), Series 2016, 4.75% 6/1/2036<sup>3</sup> |  | 1365 | 1328 |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2029<sup>3</sup> |  | 3345 | 3399 |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2035<sup>3</sup> |  | 500 | 502 |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2041<sup>3</sup> |  | 3000 | 2986 |
| School Fin. Auth., Charter School Rev. Bonds (Equitas Academy Obligated Group), Series 2018-A, 5.00% 6/1/2048<sup>3</sup> |  | 2795 | 2709 |
| School Fin. Auth., Charter School Rev. Bonds (Fenton Charter Public Schools Obligated Group), Series 2020-A, 5.00% 7/1/2040<sup>3</sup> |  | 1350 | 1345 |

---

American Funds Tax-Exempt Funds 327

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| School Fin. Auth., Charter School Rev. Bonds (Fenton Charter Public Schools Obligated Group), Series 2020-A, 5.00% 7/1/2050<sup>3</sup> | USD | 750 | $726 |
| School Fin. Auth., Charter School Rev. Bonds (Fenton Charter Public Schools Obligated Group), Series 2020-A, 5.00% 7/1/2058<sup>3</sup> |  | 1625 | 1542 |
| School Fin. Auth., Charter School Rev. Bonds (Larchmont Charter School Project), Series 2018-A, 5.00% 6/1/2055<sup>3</sup> |  | 1000 | 1001 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2017-A, 5.00% 6/1/2034<sup>3</sup> |  | 750 | 750 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2016-A, 5.00% 6/1/2036<sup>3</sup> |  | 1000 | 991 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Education Obligated Group), Series 2016-A, 5.00% 6/1/2046<sup>3</sup> |  | 750 | 708 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Public Schools Obligated Group), Series 2017-G, 5.00% 6/1/2030<sup>3</sup> |  | 315 | 321 |
| School Fin. Auth., Charter School Rev. Bonds (Rocketship Public Schools Obligated Group), Series 2017-G, 5.00% 6/1/2047<sup>3</sup> |  | 250 | 235 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2017-A, 5.00% 7/1/2030<sup>3</sup> |  | 1755 | 1780 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2017-A, 5.00% 7/1/2037<sup>3</sup> |  | 2105 | 2086 |
| School Fin. Auth., Educational Facs. Rev. Bonds (River Springs Charter School Project), Series 2015-A, 6.375% 7/1/2046 (preref. 7/1/2025)<sup>3</sup> |  | 4610 | 5063 |
| School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 5.00% 7/1/2043<sup>3</sup> |  | 1750 | 1784 |
| School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 5.00% 7/1/2049<sup>3</sup> |  | 1900 | 1930 |
| School Fin. Auth., School Fac. Rev. Bonds (Granada Hills Charter Obligated Group), Series 2019, 5.00% 7/1/2054<sup>3</sup> |  | 5000 | 5067 |
| School Fin. Auth., School Fac. Rev. Bonds (KIPP LA Projects), Series 2017-A, 5.00% 7/1/2037<sup>3</sup> |  | 860 | 894 |
| School Fin. Auth., School Fac. Rev. Bonds (KIPP SoCal Projects), Series 2019-A, 5.00% 7/1/2054<sup>3</sup> |  | 2150 | 2200 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 5.00% 7/1/2037<sup>3</sup> |  | 1455 | 1449 |
| School Fin. Auth., School Fac. Rev. Ref. Bonds (High Tech High Learning Project), Series 2017-A, 5.00% 7/1/2049<sup>3</sup> |  | 5400 | 5163 |
| South Orange County Public Fncg. Auth., Central Utility Fac. Lease Rev. Bonds, Series 2016, 5.00% 4/1/2031 |  | 1250 | 1363 |
| South Orange County Public Fncg. Auth., Central Utility Fac. Lease Rev. Bonds, Series 2016, 5.00% 4/1/2032 |  | 1750 | 1906 |
| South Orange County Public Fncg. Auth., Central Utility Fac. Lease Rev. Bonds, Series 2016, 5.00% 4/1/2035 |  | 2000 | 2162 |
| South Placer Wastewater Auth., Wastewater Rev. Ref. Bonds, Series 2020, 5.00% 11/1/2035 |  | 500 | 616 |
| Southern California Public Power Auth., Gas Project Rev. Bonds (Project No. 1), Series 2007-A, 5.25% 11/1/2025 |  | 1400 | 1474 |
| Southern California Public Power Auth., Rev. Ref. Bonds (Magnolia Power Project A), Series 2020-1, 5.00% 7/1/2036 |  | 2250 | 2600 |
| Southern California Public Power Auth., Rev. Ref. Green Bonds (Milford Wind Corridor Phase II Project), Series 2021-1, 5.00% 7/1/2026 |  | 385 | 423 |
| Southwestern Community College Dist., G.O. Rev. Ref. Bonds (2019 Crossover), Series 2016-B, 4.00% 8/1/2035 |  | 500 | 519 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-01 (Meadowlands), Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 2780 | 2627 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-01 (Meadowlands), Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 1290 | 1146 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-02 (Citro), Special Tax Bonds, Series 2022, 4.25% 9/1/2037 |  | 1250 | 1251 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-02 (Citro), Special Tax Bonds, Series 2022, 5.00% 9/1/2042 |  | 1965 | 2046 |
| Statewide Communities Dev. Auth., Community Facs. Dist. No. 2021-02 (Citro), Special Tax Bonds, Series 2022, 5.00% 9/1/2052 |  | 500 | 511 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Bonds (Montage Health), Series 2021-A, 4.00% 6/1/2040 |  | 1090 | 1113 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Bonds (Montage Health), Series 2021-A, 4.00% 6/1/2041 |  | 1160 | 1183 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging), Series 2019-B, 5.00% 11/15/2031 |  | 1300 | 1517 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging), Series 2019-B, 5.00% 11/15/2033 |  | 1000 | 1158 |
| Statewide Communities Dev. Auth., Health Fac. Rev. Ref. Bonds (Los Angeles Jewish Home for the Aging), Series 2019-A, 5.00% 11/15/2034 |  | 750 | 865 |
| Statewide Communities Dev. Auth., Insured Rev. Bonds (San Francisco Campus for Jewish Living Project), Series 2021, 4.00% 11/1/2041 |  | 1745 | 1772 |
| Statewide Communities Dev. Auth., Insured Rev. Bonds (San Francisco Campus for Jewish Living Project), Series 2021, 4.00% 11/1/2051 |  | 2925 | 2865 |
| Statewide Communities Dev. Auth., Multi Family Housing Rev. Bonds (Harriet Tubman Terrace Apartments), Series 2021-Q, 0.24% 4/1/2024 (put 4/1/2023) |  | 13380 | 13298 |

---

328 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Southern California Edison Co.), Series 2010-A, 1.75% 9/1/2029 | USD | 7000 | $5989 |
| Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 5.00% 3/1/2035 |  | 1465 | 1572 |
| Statewide Communities Dev. Auth., Rev. Bonds (Adventist Health System/West), Series 2018-A, 4.00% 3/1/2042 |  | 1240 | 1197 |
| Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2015, 5.00% 10/1/2026 |  | 75 | 79 |
| Statewide Communities Dev. Auth., Rev. Bonds (American Baptist Homes of the West), Series 2015, 5.00% 10/1/2045 |  | 1700 | 1727 |
| Statewide Communities Dev. Auth., Rev. Bonds (Buck Institute for Research on Aging), Series 2014, Assured Guaranty Municipal insured, 5.00% 11/15/2049 (preref. 11/15/2024) |  | 5250 | 5500 |
| Statewide Communities Dev. Auth., Rev. Bonds (Covenant Retirement Communities, Inc.), Series 2013-C, 5.625% 12/1/2036 |  | 2000 | 2051 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2017-A, 5.00% 4/1/2029 |  | 405 | 440 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2046 |  | 6690 | 5144 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2017-A, 5.00% 4/1/2047 |  | 1815 | 1899 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 2.50% 4/1/2051 |  | 2740 | 1777 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 3.00% 4/1/2051 |  | 5000 | 3659 |
| Statewide Communities Dev. Auth., Rev. Bonds (Front Porch Communities and Services), Series 2021-A, 4.00% 4/1/2051 |  | 6450 | 6266 |
| Statewide Communities Dev. Auth., Rev. Bonds (Huntington Memorial Hospital), Series 2014, 5.00% 7/1/2044 (preref. 7/1/2024) |  | 3225 | 3348 |
| Statewide Communities Dev. Auth., Rev. Bonds (Huntington Memorial Hospital), Series 2018, 4.00% 7/1/2048 |  | 500 | 501 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Permanente), Series 2004-L, 5.00% 4/1/2038 (put 11/1/2029) |  | 5000 | 5834 |
| Statewide Communities Dev. Auth., Rev. Bonds (Kaiser Permanente), Series 2004-M, 5.00% 4/1/2038 (put 11/1/2029) |  | 4000 | 4667 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% 6/1/2034<sup>3</sup> |  | 100 | 101 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% 6/1/2039<sup>3</sup> |  | 105 | 105 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Educational Student Housing Project), Series 2019-A, 5.00% 6/1/2051<sup>3</sup> |  | 2315 | 2220 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Plaza Project), Series 2013, 5.625% 11/1/2033 |  | 1350 | 1359 |
| Statewide Communities Dev. Auth., Rev. Bonds (Lancer Plaza Project), Series 2013, 5.875% 11/1/2043 |  | 935 | 941 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2014-A, 5.25% 12/1/2044 |  | 2925 | 2937 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2016-A, 5.25% 12/1/2056<sup>3</sup> |  | 1400 | 1403 |
| Statewide Communities Dev. Auth., Rev. Bonds (Loma Linda University Medical Center), Series 2018-A, 5.50% 12/1/2058<sup>3</sup> |  | 1000 | 1014 |
| Statewide Communities Dev. Auth., Rev. Bonds (Redlands Community Hospital), Series 2016, 5.00% 10/1/2029 |  | 625 | 664 |
| Statewide Communities Dev. Auth., Rev. Bonds (Redlands Community Hospital), Series 2016, 5.00% 10/1/2031 |  | 1135 | 1203 |
| Statewide Communities Dev. Auth., Rev. Bonds (Redlands Community Hospital), Series 2016, 5.00% 10/1/2032 |  | 1500 | 1588 |
| Statewide Communities Dev. Auth., Rev. Bonds (Redlands Community Hospital), Series 2016, 4.00% 10/1/2041 |  | 1000 | 1000 |
| Statewide Communities Dev. Auth., Rev. Bonds (Viamonte Senior Living 1 Project), Series 2018-B, 3.00% 7/1/2026 |  | 4000 | 4005 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (California Baptist University), Series 2017-A, 5.00% 11/1/2032<sup>3</sup> |  | 2025 | 2090 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (California Baptist University), Series 2017-A, 5.00% 11/1/2041<sup>3</sup> |  | 11920 | 11989 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Enloe Medical Center), Series 2015, 5.00% 8/15/2031 (preref. 2/15/2026) |  | 1000 | 1088 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Enloe Medical Center), Series 2015, 5.00% 8/15/2034 (preref. 2/15/2026) |  | 500 | 544 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Enloe Medical Center), Series 2015, 5.00% 8/15/2035 (preref. 2/15/2026) |  | 5050 | 5492 |

---

American Funds Tax-Exempt Funds 329

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Huntington Memorial Hospital), Series 2014-B, 5.00% 7/1/2030 (preref. 7/1/2024) | USD | 500 | $519 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Huntington Memorial Hospital), Series 2014-B, 5.00% 7/1/2031 (preref. 7/1/2024) |  | 1750 | 1817 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 4.00% 6/1/2026<sup>3</sup> |  | 2695 | 2662 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 5.00% 6/1/2036<sup>3</sup> |  | 4500 | 4513 |
| Statewide Communities Dev. Auth., Rev. Ref. Bonds (Lancer Educational Student Housing Project), Series 2016-A, 5.00% 6/1/2046<sup>3</sup> |  | 2250 | 2184 |
| Statewide Communities Dev. Auth., Statewide Community Infrastructure Program Rev. Bonds (City of Hesperia Ranchero Road Widening Improvements), Series 2022, 5.75% 9/2/2052 |  | 8345 | 8399 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 4.00% 5/15/2038 |  | 2000 | 2059 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments, Phase I Ref. and Phase IV-B), Series 2021, BAM insured, 4.00% 5/15/2046 |  | 7465 | 7471 |
| Statewide Communities Dev. Auth., Student Housing Rev. Bonds (Custodial Receipts), Series 2017, 4.305% 7/1/2032 |  | 8195 | 7631 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 5/15/2029 |  | 1000 | 1047 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 5/15/2030 |  | 1500 | 1567 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 5/15/2032 |  | 1000 | 1039 |
| Statewide Communities Dev. Auth., Student Housing Rev. Ref. Bonds (CHF-Irvine, LLC - University of California, Irvine East Campus Apartments), Series 2016, 5.00% 5/15/2035 |  | 1250 | 1289 |
| City of Stockton, Public Fncg. Auth., Wastewater Rev. Ref. Bonds (1998 Wastewater Project and 2003 Wastewater Project), Series 2014, BAM insured, 5.00% 9/1/2024 |  | 500 | 520 |
| City of Stockton, Public Fncg. Auth., Wastewater Rev. Ref. Bonds (1998 Wastewater Project and 2003 Wastewater Project), Series 2014, BAM insured, 5.00% 9/1/2028 |  | 1000 | 1036 |
| Stockton Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2040 |  | 790 | 823 |
| Stockton Unified School Dist., G.O. Bonds, 2018 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2045 |  | 9245 | 9414 |
| Stockton Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2029 |  | 1000 | 1084 |
| Stockton Unified School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2031 |  | 7800 | 8443 |
| Sulphur Springs Union School Dist., Community Facs. Dist. No. 2006-1, Special Tax Bonds, Series 2021, 4.00% 9/1/2048 |  | 1000 | 908 |
| Sulphur Springs Union School Dist., Community Facs. Dist. No. 2006-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2021, 0% 9/1/2041 |  | 205 | 87 |
| Sulphur Springs Union School Dist., Community Facs. Dist. No. 2006-1, Special Tax Bonds, Capital Appreciation Bonds, Series 2021, 0% 9/1/2052 |  | 8800 | 1989 |
| City of Sunnyvale, Fin. Auth., Lease Rev. Green Bonds (Civic Center Project), Series 2020, 4.00% 4/1/2040 |  | 1000 | 1024 |
| Sweetwater Union High School Dist., G.O. Bonds, 2006 Election, Series 2018-C, 4.00% 8/1/2043 |  | 4290 | 4325 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2018 Election, Series 2022-A-1, 4.50% 8/1/2040 |  | 6020 | 6407 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, 2018 Election, Series 2022-A-1, 4.50% 8/1/2041 |  | 6690 | 7104 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Capital Appreciation Bonds, 2006 Election, Series 2022-D-2, Assured Guaranty Municipal insured, 0% 8/1/2037 |  | 1250 | 678 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Capital Appreciation Bonds, 2006 Election, Series 2022-D-2, Assured Guaranty Municipal insured, 0% 8/1/2044 |  | 2000 | 699 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Capital Appreciation Bonds, 2006 Election, Series 2022-D-2, Assured Guaranty Municipal insured, 0% 8/1/2045 |  | 2000 | 659 |
| Sweetwater Union High School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Capital Appreciation Bonds, 2006 Election, Series 2022-D-2, Assured Guaranty Municipal insured, 0% 8/1/2046 |  | 2000 | 620 |
| Sweetwater Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2032 |  | 5000 | 5394 |
| Sweetwater Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2034 |  | 2075 | 2226 |
| Sweetwater Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016, 5.00% 8/1/2036 |  | 1000 | 1064 |

---

330 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value<br> (000) |
| **California (continued)** |  |  |  |
| Sweetwater Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016, 4.00% 8/1/2047 | USD | 4750 | $4734 |
| Taft City Elementary School Dist., G.O. Bonds, Election 2012, Series 2013-B, Assured Guaranty Municipal insured, 6.00% 8/1/2044 (preref. 8/1/2023) |  | 1200 | 1222 |
| Temecula Valley Unified School Dist., Community Facs. Dist. No. 2014-1, Special Tax Rev. Bonds, Series 2018, 5.00% 9/1/2050 |  | 2100 | 2158 |
| Temecula Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Special Tax Bonds, Series 2022, 4.25% 9/1/2043 |  | 700 | 675 |
| Temecula Valley Unified School Dist., Community Facs. Dist. No. 2017-1, Special Tax Bonds, Series 2022, 4.375% 9/1/2052 |  | 1600 | 1527 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2031 |  | 1500 | 1582 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2033 |  | 1000 | 1051 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2034 |  | 2065 | 2165 |
| Temecula Valley Unified School Dist., Fncg. Auth., Special Tax Rev. Bonds, Series 2015, BAM insured, 5.00% 9/1/2040 |  | 1600 | 1651 |
| Temecula Valley Unified School Dist., G.O. Bonds, 2012 Election, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 8/1/2045 |  | 1400 | 1405 |
| Temescal Valley Water Dist., Community Facs. Dist. No. 4 (Terramor), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2036 |  | 930 | 925 |
| Temescal Valley Water Dist., Community Facs. Dist. No. 4 (Terramor), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1045 | 958 |
| City of Thousand Oaks, Community Facs. Dist. No. 1994-1 (Marketplace Public Pedestrian, Traffic Circulation and Parking Facs.), Special Tax Rev. Ref. Bonds, Series 2012, 5.375% 9/1/2031 |  | 3265 | 3304 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 6/1/2028 |  | 1500 | 1641 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 6/1/2032 |  | 2400 | 2656 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Series 2019-A, 5.00% 6/1/2033 |  | 2000 | 2203 |
| Tobacco Securitization Auth. of Southern California, Tobacco Settlement Asset-Backed Rev. Ref. Bonds (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation Bonds, Series 2019-B2-2, 0% 6/1/2054 |  | 14865 | 2745 |
| Tobacco Securitization Auth., Tobacco Settlement Asset-Backed Rev. Ref. Senior Bonds (Sacramento County Tobacco Securitization Corp), Series 2021-A-1, 4.00% 6/1/2034 |  | 670 | 691 |
| City of Tracy, Community Facs. Dist. No. 2006-01 (NEI Phase II), Special Tax Rev. Ref. Bonds, Series 2019, 5.00% 9/1/2030 |  | 535 | 590 |
| City of Tracy, Community Facs. Dist. No. 2006-01 (NEI Phase II), Special Tax Rev. Ref. Bonds, Series 2019, 5.00% 9/1/2034 |  | 1380 | 1509 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2030 |  | 260 | 282 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2031 |  | 290 | 314 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2032 |  | 300 | 325 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2033 |  | 335 | 362 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2034 |  | 400 | 431 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2035 |  | 440 | 471 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2036 |  | 485 | 517 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2037 |  | 530 | 563 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2038 |  | 575 | 607 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2044 |  | 870 | 900 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 1, Special Tax Bonds, Series 2019, 5.00% 9/1/2049 |  | 1750 | 1799 |

---

American Funds Tax-Exempt Funds 331

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2036 | USD | 750 | $748 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2041 |  | 1100 | 1049 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2046 |  | 1600 | 1480 |
| City of Tracy, Community Facs. Dist. No. 2016-2 (ECFD), Improvement Area No. 2, Special Tax Bonds, Series 2021, 4.00% 9/1/2051 |  | 2100 | 1903 |
| Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 10/1/2045 |  | 1000 | 1047 |
| Transbay Joint Powers Auth., Senior Tax Allocation Green Bonds, Series 2020-A, 5.00% 10/1/2049 |  | 2135 | 2208 |
| Transbay Joint Powers Auth., Tax Allocation Green Bonds, Series 2020-B, 5.00% 10/1/2032 |  | 500 | 552 |
| Transbay Joint Powers Auth., Tax Allocation Green Bonds, Series 2020-B, 5.00% 10/1/2033 |  | 300 | 328 |
| Transbay Joint Powers Auth., Tax Allocation Green Bonds, Series 2020-B, 5.00% 10/1/2034 |  | 300 | 324 |
| Transbay Joint Powers Auth., Tax Allocation Green Bonds, Series 2020-B, 5.00% 10/1/2035 |  | 300 | 320 |
| Transbay Joint Powers Auth., Tax Allocation Green Bonds, Series 2020-B, 5.00% 10/1/2038 |  | 820 | 869 |
| Transmission Agcy. of Northern California, Rev. Ref. Bonds (California-Oregon Transmission Project), Series 2016-A, 5.00% 5/1/2037 |  | 2000 | 2143 |
| Transmission Agcy. of Northern California, Rev. Ref. Bonds (California-Oregon Transmission Project), Series 2016-A, 5.00% 5/1/2038 |  | 1000 | 1069 |
| Transmission Agcy. of Northern California, Rev. Ref. Bonds (California-Oregon Transmission Project), Series 2016-A, 5.00% 5/1/2039 |  | 1000 | 1067 |
| City of Tulare, Sewer Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 11/15/2034 |  | 2235 | 2307 |
| City of Tulare, Sewer Rev. Ref. Bonds, Series 2016, Assured Guaranty Municipal insured, 4.00% 11/15/2035 |  | 1320 | 1355 |
| County of Tulare, Local Health Care Dist., G.O. Rev. Ref. Bonds, Series 2020, BAM insured, 4.00% 8/1/2039 |  | 1850 | 1882 |
| City of Turlock, Irrigation Dist., Rev. Ref. Bonds, Series 2020, 5.00% 1/1/2031 |  | 1000 | 1181 |
| City of Turlock, Irrigation Dist., Rev. Ref. Bonds, Series 2016, 5.00% 1/1/2036 |  | 600 | 653 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2031 |  | 1000 | 1059 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2033 |  | 1135 | 1198 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 4.00% 9/1/2035 |  | 250 | 251 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2040 |  | 1850 | 1890 |
| City of Tustin, Community Facs. Dist. No. 06-1 (Tustin Legacy / Columbus Villages), Special Tax Rev. Ref. Bonds, Series 2015-A, 5.00% 9/1/2045 |  | 2200 | 2237 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, 5.00% 9/1/2028 |  | 3000 | 3169 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, 5.00% 9/1/2029 |  | 1000 | 1057 |
| Tustin Unified School Dist., Community Facs. Dist. No. 97-1, Special Tax Rev. Ref. Bonds, Series 1997-A-1, BAM insured, 5.00% 9/1/2038 |  | 2500 | 2606 |
| Twin Rivers Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2006 Election, Series 2016, Assured Guaranty Municipal insured, 0% 8/1/2041 |  | 7000 | 3124 |
| Regents of the University of California, G.O. Rev. Bonds, Series 2018-AZ, 5.00% 5/15/2048 |  | 5000 | 5404 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BE, 4.00% 5/15/2040 |  | 2570 | 2661 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BE, 4.00% 5/15/2047 |  | 4855 | 4907 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2016-K, 5.00% 5/15/2034 |  | 750 | 815 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2021-Q, 4.00% 5/15/2038 |  | 1215 | 1287 |
| Regents of the University of California, Limited Project Rev. Bonds, Series 2021-Q, 4.00% 5/15/2040 |  | 1205 | 1249 |
| Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2016-L, 4.00% 5/15/2038 |  | 1000 | 1014 |
| City of Upland, Community Facs. Dist. No 2016-1 (Harvest at Upland), Improvement Area No. 2, Special Tax Bonds, Series 2021-A, 4.00% 9/1/2040 |  | 260 | 250 |
| City of Upland, Community Facs. Dist. No 2016-1 (Harvest at Upland), Improvement Area No. 2, Special Tax Bonds, Series 2021-A, 4.00% 9/1/2045 |  | 165 | 153 |
| City of Upland, Community Facs. Dist. No 2016-1 (Harvest at Upland), Improvement Area No. 2, Special Tax Bonds, Series 2021-A, 4.00% 9/1/2051 |  | 265 | 238 |
| Upper Santa Clara Valley Joint Powers Auth., Rev. Bonds, Series 2016-A, 5.00% 8/1/2046 |  | 2120 | 2329 |
| Vacaville Unified School Dist., G.O. Bonds, 2014 Election, Series 2020-D, 4.00% 8/1/2042 |  | 1000 | 1011 |
| Val Verde Unified School Dist., G.O. Bonds, 2012 Election, Series 2016-C, Assured Guaranty Municipal insured, 4.00% 8/1/2045 |  | 1550 | 1556 |
| Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2046 |  | 1885 | 1910 |

---

332 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **California (continued)** |  |  |  |
| Val Verde Unified School Dist., G.O. Bonds, 2020 Election, Series 2021-B, Assured Guaranty Municipal insured, 4.00% 8/1/2051 | USD | 3350 | $3375 |
| City of Vallejo, Water Rev. Bonds, Series 2021-A, BAM insured, 4.00% 5/1/2046 |  | 3350 | 3383 |
| City of Vallejo, Water Rev. Bonds, Series 2021-A, BAM insured, 4.00% 5/1/2051 |  | 4500 | 4527 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 10/1/2027 |  | 1180 | 1283 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 4/1/2028 |  | 470 | 515 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2037 |  | 1565 | 1718 |
| City of Vernon, Electric System Rev. Bonds, Series 2022-A, 5.00% 8/1/2040 |  | 775 | 840 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2016-B, 3.50% 12/1/2045 |  | 1980 | 1979 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2019-A, 4.00% 12/1/2049 |  | 4325 | 4384 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2020-A, 3.00% 12/1/2050 |  | 3935 | 3896 |
| Dept. of Veterans Affairs, Home Purchase Rev. Bonds, Series 2022-A, 5.50% 12/1/2052 |  | 3400 | 3721 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2018-CR, 4.00% 12/1/2048 |  | 9910 | 10035 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2019-CS, 4.00% 12/1/2049 |  | 10525 | 10660 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2020-CT, 3.00% 12/1/2050 |  | 5750 | 5691 |
| Dept. of Veterans Affairs, Veterans G.O. Bonds, Series 2022-CU, 5.50% 12/1/2052 |  | 2515 | 2748 |
| Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2015-CM, AMT, 2.45% 12/1/2031 |  | 235 | 234 |
| Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2016-CN, 3.50% 12/1/2045 |  | 2430 | 2429 |
| Victor Elementary School Dist., Community Facs. Dist. No. 2005-1, Special Tax Bonds, Series 2018, BAM insured, 5.00% 9/1/2046 |  | 1250 | 1331 |
| Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-A, BAM insured, 4.00% 8/1/2031 |  | 1000 | 1055 |
| Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 8/1/2035 |  | 3630 | 3757 |
| Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 8/1/2036 |  | 1665 | 1716 |
| Victor Valley Union High School Dist., G.O. Rev. Ref. Bonds, Series 2016-B, Assured Guaranty Municipal insured, 4.00% 8/1/2037 |  | 3800 | 3890 |
| West Contra Costa Unified School Dist., G.O. Bonds, 2012 Election, Series 2020-E, Assured Guaranty Municipal insured, 4.00% 8/1/2049 |  | 2000 | 2001 |
| West Contra Costa Unified School Dist., G.O. Bonds, Capital Appreciation Bonds, 2002 Election, Series 2005-D, National insured, 0% 8/1/2031 |  | 7500 | 5780 |
| West Contra Costa Unified School Dist., G.O. Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2010-D-2, Assured Guaranty Municipal insured, 0% 8/1/2036 |  | 6000 | 3699 |
| City of West Sacramento, Fin. Auth., Special Tax Rev. Bonds, Series 2006-A, Assured Guaranty insured, 5.00% 9/1/2026 |  | 290 | 310 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Bonds, Series 2017-A, 5.00% 9/1/2042 |  | 1150 | 1196 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2030 |  | 600 | 656 |
| Western Riverside Water and Wastewater Fncg. Auth., Local Agcy. Rev. Ref. Bonds, Series 2016-A, 5.00% 9/1/2032 |  | 1240 | 1354 |
| City of Westminster, Successor Agcy. to the Redev. Agcy., Commercial Redev. Project No. 1, Tax Allocation Rev. Ref. Bonds, Series 2016-B, BAM insured, 4.00% 11/1/2031 |  | 3105 | 3252 |
| City of Westminster, Successor Agcy. to the Redev. Agcy., Commercial Redev. Project No. 1, Tax Allocation Rev. Ref. Bonds, Series 2016-B, BAM insured, 4.00% 11/1/2035 |  | 2220 | 2284 |
| William S. Hart Union High School Dist., G.O. Bonds, Capital Appreciation Bonds, 2008 Election, Series 2009-A, 0% 8/1/2032 |  | 2000 | 1485 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Rev. Ref. and Capital Projects Bonds, Series 2019, 5.00% 9/1/2033 |  | 1295 | 1384 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Rev. Ref. and Capital Projects Bonds, Series 2019, 5.00% 9/1/2038 |  | 1475 | 1555 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Rev. Ref. and Capital Projects Bonds, Series 2019, 5.00% 9/1/2044 |  | 1490 | 1546 |
| City of Woodland, Community Facs. Dist. No. 2004-1 (Spring Lake), Special Tax Rev. Ref. and Capital Projects Bonds, Series 2019, 5.00% 9/1/2048 |  | 1665 | 1719 |
| Yosemite Community College Dist., G.O. Bonds, Capital Appreciation Bonds, 2004 Election, Series 2010-D, 0% 8/1/2031 |  | 1500 | 1171 |
|  |  |  | **2227380** |

---

American Funds Tax-Exempt Funds 333

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Guam 0.63%** |  |  |  |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2019-A, AMT, 5.00% 10/1/2023 (escrowed to maturity) | USD | 950 | $963 |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2023-A, AMT, 5.25% 10/1/2036 |  | 685 | 700 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2015-D, 5.00% 11/15/2028 |  | 4500 | 4674 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 5.00% 1/1/2029 |  | 1500 | 1636 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2042 |  | 3685 | 3472 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2040 |  | 305 | 322 |
| Limited Obligation Bonds (Section 30), Series 2016-A, 5.00% 12/1/2046 |  | 3000 | 3007 |
| Limited Obligation Rev. Bonds (Section 30), Series 2016-A, 5.00% 12/1/2024 |  | 1000 | 1029 |
| Port Auth., Port Rev. Bonds, Series 2018-B, AMT, 5.00% 7/1/2037 |  | 400 | 424 |
|  |  |  | **16227** |
| **Puerto Rico 0.60%** |  |  |  |
| Public Fin. Corp., Commonwealth Appropriation Bonds, Series 2001-E, 6.00% 8/1/2026 (escrowed to maturity) |  | 1830 | 2045 |
| Public Fin. Corp., Commonwealth Appropriation Bonds, Series 2001-E, 6.00% 8/1/2026 (escrowed to maturity) |  | 170 | 190 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 1050 | 1008 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2018-A-1, 5.00% 7/1/2058 |  | 1815 | 1793 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2046 |  | 32723 | 9027 |
| University of Puerto Rico, University System Rev. Ref. Bonds, Series 2006-P, 5.00% 6/1/2026 |  | 1500 | 1474 |
|  |  |  | **15537** |
| **United States 0.39%** |  |  |  |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2019-ML-05, Class ACA, 3.35% 11/25/2033 |  | 8080 | 7781 |
| Freddie Mac, Multi Family Mortgage Bonds, Series 2021-ML-10, Class ACA, 2.046% 6/25/2038<sup>3</sup> |  | 983 | 767 |
| Freddie Mac, Multi Family Mortgage Certs., Series 2019-M-049, 3.05% 4/15/2034 |  | 1805 | 1641 |
|  |  |  | **10189** |
| **Virgin Islands 0.10%** |  |  |  |
| Matching Fund Special Purpose Securitization Corp., Matching Fund Securitization Bonds, Series 2022-A, 5.00% 10/1/2027 |  | 2500 | **2600** |
| **Total bonds, notes & other debt instruments** (cost: $2,369,829,000) |  |  | **2271933** |
| **Short-term securities 10.48%** |  |  |  |
| **Municipals 7.38%** |  |  |  |
| Fin. Auth., Recovery Zone Fac. Bonds (Chevron U.S.A., Inc. Project), Series 2010-B, 0.65% 11/1/2035<sup>2</sup> |  | 2300 | 2300 |
| Fin. Auth., Recovery Zone Fac. Bonds (Chevron U.S.A., Inc. Project), Series 2010-A, 0.76% 11/1/2035<sup>2</sup> |  | 19500 | 19500 |
| City of Irvine, Reassessment Dist. No. 87-8, Limited Obligation Improvement Bonds, Series 1999, 0.51% 9/2/2024<sup>2</sup> |  | 1250 | 1250 |
| Irvine Ranch Water Dist. Nos. 105, 140, 240 and 250, Consolidated G.O. Bonds, Series 1993, 0.50% 4/1/2033<sup>2</sup> |  | 500 | 500 |
| Kern Community College Dist., Facs. Improvement Dist. No. 1, G.O. Bond Anticipation Notes, Capital Appreciation Notes, Series 2020, 0% 8/1/2023 |  | 1110 | 1096 |
| City of Los Angeles, Dept. of Water and Power, Power System Demand Rev. Bonds, Series 2002-A-6, 0.49% 7/1/2035<sup>2</sup> |  | 2425 | 2425 |
| City of Los Angeles, Dept. of Water and Power, Power System Demand Rev. Bonds, Series 2002-A-1, 0.51% 7/1/2035<sup>2</sup> |  | 2000 | 2000 |
| City of Los Angeles, Dept. of Water and Power, Power System Demand Rev. Bonds, Series 2002-A-2, 0.51% 7/1/2035<sup>2</sup> |  | 9100 | 9100 |
| City of Los Angeles, Dept. of Water and Power, Power System Rev. Bonds, Series 2001-B-5, 1.00% 7/1/2034<sup>2</sup> |  | 2800 | 2800 |
| City of Los Angeles, Dept. of Water and Power, Rev. Bonds, Series 2021-1, 0.40% 7/1/2050<sup>2</sup> |  | 2200 | 2200 |
| City of Los Angeles, Dept. of Water and Power, Rev. Bonds, Series 2021-A-1, 0.40% 7/1/2050<sup>2</sup> |  | 6000 | 6000 |
| City of Los Angeles, Dept. of Water and Power, Water System Bonds, Series 2019-A, 0.51% 7/1/2049<sup>2</sup> |  | 33750 | 33750 |
| City of Los Angeles, Dept. of Water and Power, Water System Demand Rev. Bonds, Series 2001-B-4, 0.45% 7/1/2035<sup>2</sup> |  | 4200 | 4200 |
| City of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/29/2023 |  | 15000 | 15101 |
| County of Los Angeles, Tax and Rev. Anticipation Notes, Series 2022, 4.00% 6/30/2023 |  | 10540 | 10624 |

---

334 American Funds Tax-Exempt Funds

The Tax-Exempt Fund of California (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Short-term securities** (continued) | Principal amount <br> (000) | Principal amount <br> (000) | Value <br> (000) |
| **Municipals (continued)** |  |  |  |
| Metropolitan Water Dist. of Southern California, Water Rev. Bonds, Series 2017-C, 1.80% 7/1/2047 (put 5/21/2024)<sup>2,5</sup> | USD | 4795 | $4767 |
| Metropolitan Water Dist. of Southern California, Water Rev. Ref. Bonds, Series 2016-B-2, 0.40% 7/1/2037<sup>2</sup> |  | 9100 | 9100 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Republic Services, Inc. Project), Series 2021-B, AMT, 3.60% 7/1/2051 (put 7/17/2023)<sup>5</sup> |  | 4625 | 4628 |
| Municipal Fin. Auth., Solid Waste Disposal Rev. Bonds (Waste Management, Inc. Project), Series 2020, AMT, 3.50% 10/1/2045 (put 3/1/2023)<sup>5</sup> |  | 3215 | 3215 |
| Pollution Control Fncg. Auth., Environmental Impact Rev. Bonds (Air Products and Chemicals, Inc. Project), Series 1997-B, 0.37% 3/1/2042<sup>2</sup> |  | 9200 | 9200 |
| County of Riverside, Tax and Rev. Anticipation Notes, Series 2022, 5.00% 6/30/2023 |  | 10000 | 10109 |
| Statewide Communities Dev. Auth., Pollution Control Rev. Ref. Bonds (Chevron U.S.A., Inc. Project), Series 2002, 0.76% 5/15/2024<sup>2</sup> |  | 1200 | 1200 |
| Regents of the University of California, General Rev. Bonds, Series 2013-AL-1, 0.36% 5/15/2048<sup>2</sup> |  | 10000 | 10000 |
| Regents of the University of California, General Rev. Bonds, Series 2013-AL-2, 0.40% 5/15/2048<sup>2</sup> |  | 8500 | 8500 |
| Regents of the University of California, General Rev. Bonds, Series 2013-AL-4, 0.40% 5/15/2048<sup>2</sup> |  | 11980 | 11980 |
| Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2007-B-1, 0.45% 5/15/2032<sup>2</sup> |  | 3135 | 3135 |
| Regents of the University of California, Medical Center Pooled Rev. Bonds, Series 2020-O-1, 0.45% 5/15/2045<sup>2</sup> |  | 2000 | 2000 |
|  |  |  | **190680** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | Weighted <br> average yield <br> at acquisition |  |  |
| **U.S. Treasury bills 3.10%** |  |  |  |
| U.S. Treasury 2/7/2023 | 4.180% | 40000 | 39972 |
| U.S. Treasury 2/21/2023 | 4.481 | 40000 | 39902 |
|  |  |  | 79874 |
| **Total short-term securities** (cost: $270,589,000) |  |  | **270554** |
| **Total investment securities 98.46%** (cost: $2,640,418,000) | **Total investment securities 98.46%** (cost: $2,640,418,000) |  | **2542487** |
| Other assets less liabilities 1.54% |  |  | 39776 |
| **Net assets 100.00%** |  |  | $**2582263** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Futures contracts**<br>**Contracts** | <br>**Type** | <br>**Number of <br> contracts** | <br>**Expiration** | | <br>**Notional <br> amount <br> (000)** | <br>**Value and <br> unrealized <br> (depreciation)<br> appreciation <br> at 1/31/2023 <br> (000)** |
| 2 Year U.S. Treasury Note Futures | Short | 365 | March 2023 | USD | (75061) | $(6) |
| 5 Year U.S. Treasury Note Futures | Long | 1915 | March 2023 |  | 209199 | 1708 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 545 | March 2023 |  | (66056) | (355) |
| 30 Year Ultra U.S. Treasury Bond Futures | Short | 229 | March 2023 |  | (32461) | (1129) |
|  |  |  |  |  |  | $218 |

---

<sup>1</sup> Step bond; coupon rate may change at a later date.

<sup>2</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

<sup>3</sup> 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 $185,134,000, which represented 7.17% of the net assets of the fund.

<sup>4</sup> Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.

<sup>5</sup> For short-term securities, the mandatory put date is considered to be the maturity date.

American Funds Tax-Exempt Funds 335

The Tax-Exempt Fund of California (continued)

**Key to abbreviations**

Agcy. = Agency

AMT = Alternative Minimum Tax

Assn. = Association

Auth. = Authority

Certs. = Certificates

Dept. = Department

Dev. = Development

Dist. = District

Econ. = Economic

Fac. = Facility

Facs. = Facilities

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

LIBOR = London Interbank Offered Rate

Part. = Participation

Preref. = Prerefunded

Redev. = Redevelopment

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

USD = U.S. dollars

Refer to the notes to financial statements.

336 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| American Funds Tax-Exempt Fund of New York | **unaudited** |
| **Investment portfolio** January 31, 2023 |  |
| **Portfolio quality summary\*** | Percent of net assets |

---

![](image_008.jpg)

\* Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor's, Moody's and/or Fitch as an indication of an issuer's creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor's, Moody's and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund's investment policies.

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments 92.64%** | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York 90.20%** |  |  |  |
| City of Albany Capital Resource Corp., Rev. Bonds (Empire Commons Student Housing, Inc. Ref. Project), Series 2016-A, 5.00% 5/1/2032 | USD | 400 | $419 |
| Town of Amherst Dev. Corp., Fac. Rev. Bonds (Daemen College Projects), Series 2018, 5.00% 10/1/2023 |  | 540 | 543 |
| Town of Amherst Dev. Corp., Student Housing Fac. Rev. Ref. Bonds (UBF Faculty-Student Housing Corp. - Greiner and Hadley Rev. Ref. Projects at SUNY Buffalo), Series 2017-A, Assured Guaranty Municipal insured, 5.00% 10/1/2030 |  | 500 | 559 |
| Town of Brookhaven Local Dev. Corp., Rev. Bonds (Active Retirement Community, Inc.), Series 2020-A, 4.00% 11/1/2055 |  | 750 | 615 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 4.00% 7/15/2034 |  | 240 | 248 |
| Brooklyn Arena Local Dev. Corp., PILOT Rev. Ref. Bonds (Barclays Center), Series 2016-A, Assured Guaranty Municipal insured, 5.00% 7/15/2042 |  | 1925 | 1925 |
| Broome County Local Dev. Corp., Rev. Bonds (United Health Services Hospitals, Inc. Project), Series 2020, Assured Guaranty Municipal insured, 4.00% 4/1/2050 |  | 2000 | 1893 |
| Build NYC Resource Corp., Rev. Bonds (Academic Leadership Charter School Project), Series 2021, 4.00% 6/15/2030 |  | 200 | 202 |
| Build NYC Resource Corp., Rev. Bonds (Academic Leadership Charter School Project), Series 2021, 4.00% 6/15/2036 |  | 400 | 386 |
| Build NYC Resource Corp., Rev. Bonds (Bronx Charter School for Excellence Project), Series 2013-A, 5.50% 4/1/2043 |  | 1500 | 1502 |
| Build NYC Resource Corp., Rev. Bonds (East Harlem Scholars Academy Charter School Project), Series 2022, 5.75% 6/1/2062<sup>1</sup> |  | 100 | 103 |
| Build NYC Resource Corp., Rev. Bonds (KIPP NYC Public School Facs. - Canal West Project), Series 2022, 5.25% 7/1/2057 |  | 1000 | 1048 |
| Build NYC Resource Corp., Rev. Ref. Bonds (Albert Einstein School of Medicine, Inc. Project), Series 2015, 5.50% 9/1/2045<sup>1</sup> |  | 290 | 294 |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 4.50% 1/1/2025<sup>1</sup> |  | 165 | 168 |
| Build NYC Resource Corp., Solid Waste Disposal Rev. Bonds (Pratt Paper (NY), Inc. Project), Series 2014, AMT, 5.00% 1/1/2035<sup>1</sup> |  | 950 | 968 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2039 |  | 2300 | 1119 |
| Convention Center Dev. Corp., Rev. Bonds (Hotel Unit Fee Secured), Capital Appreciation Bonds, Series 2016-B, BAM insured, 0% 11/15/2048 |  | 3540 | 1072 |
| Convention Center Dev. Corp., Rev. Ref. Bonds (Hotel Unit Fee Secured), Series 2015, 5.00% 11/15/2030 |  | 300 | 316 |
| Convention Center Dev. Corp., Rev. Ref. Bonds (Hotel Unit Fee Secured), Series 2015, 5.00% 11/15/2035 |  | 840 | 872 |
| Dobbs Ferry Local Dev. Corp., Rev. Bonds (Mercy College Project), Series 2014, 5.00% 7/1/2039 |  | 1625 | 1660 |
| Dobbs Ferry Local Dev. Corp., Rev. Bonds (Mercy College Project), Series 2014, 5.00% 7/1/2044 |  | 500 | 509 |
| Dormitory Auth., Rev. Bonds (Catholic Health System Obligated Group), Series 2019-A, 4.00% 7/1/2045 |  | 500 | 359 |
| Dormitory Auth., Rev. Bonds (Cornell University), Series 2020-A-2, 5.00% 7/1/2030 |  | 1000 | 1202 |
| Dormitory Auth., Rev. Bonds (Culinary Institute of America), Series 2013, 5.50% 7/1/2033 |  | 500 | 505 |
| Dormitory Auth., Rev. Bonds (Icahn School of Medicine at Mount Sinai), Series 2015-A, 5.00% 7/1/2040 |  | 250 | 256 |

---

American Funds Tax-Exempt Funds 337

American Funds Tax-Exempt Fund of New York (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Dormitory Auth., Rev. Bonds (Iona College), Series 2021-A, 5.00% 7/1/2046 | USD | 250 | $263 |
| Dormitory Auth., Rev. Bonds (Langone Hospitals Obligated Group), Series 2020-A, 4.00% 7/1/2050 |  | 1500 | 1461 |
| Dormitory Auth., Rev. Bonds (Langone Hospitals Obligated Group), Series 2020-A, 4.00% 7/1/2053 |  | 1000 | 964 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2018-A, 5.00% 8/1/2031 |  | 1080 | 1133 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 9/1/2036 |  | 400 | 376 |
| Dormitory Auth., Rev. Bonds (Montefiore Obligated Group), Series 2020-A, 4.00% 9/1/2050 |  | 750 | 645 |
| Dormitory Auth., Rev. Bonds (New School), Series 2015-A, 5.00% 7/1/2032 |  | 930 | 970 |
| Dormitory Auth., Rev. Bonds (New School), Series 2015-A, 5.00% 7/1/2032 (preref. 7/1/2025) |  | 70 | 74 |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 7/1/2032 |  | 1000 | 1068 |
| Dormitory Auth., Rev. Bonds (New School), Series 2016-A, 5.00% 7/1/2035 |  | 555 | 587 |
| Dormitory Auth., Rev. Bonds (New School), Series 2022-A, 4.00% 7/1/2047 |  | 765 | 709 |
| Dormitory Auth., Rev. Bonds (Northwell Health Obligated Group), Series 2019-B-3, 5.00% 5/1/2048 (put 5/1/2026) |  | 1000 | 1058 |
| Dormitory Auth., Rev. Bonds (NYU Hospitals Center), Series 2016-A, 5.00% 7/1/2033 |  | 400 | 426 |
| Dormitory Auth., Rev. Bonds (NYU Hospitals Center), Series 2014, 5.00% 7/1/2034 |  | 1000 | 1031 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 12/1/2031<sup>1</sup> |  | 1000 | 1028 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2032<sup>1</sup> |  | 600 | 610 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2017, 5.00% 12/1/2035<sup>1</sup> |  | 1300 | 1313 |
| Dormitory Auth., Rev. Bonds (Orange Regional Medical Center Obligated Group), Series 2015, 5.00% 12/1/2040<sup>1</sup> |  | 1000 | 986 |
| Dormitory Auth., Rev. Bonds (School Dist. Rev. Bond Fncg. Program), Series 2011-A, 5.00% 10/1/2024 |  | 10 | 10 |
| Dormitory Auth., Rev. Bonds (State University of New York Dormitory Facs.), Series 2019-A, 4.00% 7/1/2049 |  | 1000 | 983 |
| Dormitory Auth., Rev. Bonds (Touro College and University System Obligated Group), Series 2017, 5.00% 1/1/2038 (preref. 1/3/2028) |  | 500 | 564 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2028 |  | 1000 | 1138 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2018-A, 5.25% 3/15/2037 |  | 1000 | 1114 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-A, 4.00% 3/15/2039 |  | 2000 | 2031 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2017-B, 5.00% 2/15/2041 |  | 750 | 805 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2045 |  | 1145 | 1135 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2047 |  | 1000 | 985 |
| Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-E, 4.00% 3/15/2047 |  | 1280 | 1261 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2014-A, 5.00% 3/15/2038 |  | 1000 | 1024 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-A, 5.00% 3/15/2039 |  | 2275 | 2468 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 3/15/2039 |  | 800 | 874 |
| Dormitory Auth., State Sales Tax Rev. Bonds, Series 2018-E, 5.00% 3/15/2048 |  | 1500 | 1617 |
| Dutchess County Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 4.00% 7/1/2041 |  | 750 | 693 |
| Dutchess County Local Dev. Corp., Rev. Bonds (Health Quest Systems, Inc. Project), Series 2016-B, 5.00% 7/1/2046 |  | 1500 | 1519 |
| Dutchess County Local Dev. Corp., Rev. Bonds (Nuvance Health Issue), Series 2019-B, 4.00% 7/1/2049 |  | 1000 | 898 |
| Energy Research and Dev. Auth., Pollution Control Rev. Bonds (Rochester Gas and Electric Corp. Project), Series 1997-A, 3.00% 8/1/2032 (put 7/1/2025) |  | 1000 | 1008 |
| Environmental Facs. Corp., Clean Water and Drinking Water Revolving Funds Rev. Bonds (New York City Municipal Water Fin. Auth. Projects - Second Resolution Bonds), Series 2022-A, 5.00% 6/15/2051 |  | 1000 | 1121 |
| Environmental Facs. Corp., Rev. Green Bonds (Revolving Funds), Series 2016-B, 4.00% 8/15/2036 |  | 1950 | 2013 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2017, AMT, 2.875% 12/1/2044 (put 12/3/2029)<sup>1</sup> |  | 1500 | 1322 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2014-R-2, AMT, 3.125% 12/1/2044 (put 6/1/2026)<sup>1</sup> |  | 500 | 475 |
| Environmental Facs. Corp., Solid Waste Disposal Rev. Bonds (Casella Waste Systems, Inc. Project), Series 2020-R-1, 2.75% 9/1/2050 (put 9/2/2025) |  | 1000 | 951 |
| Genesee County Funding Corp., Rev. Bonds (Rochester Regional Health Project), Series 2022-A, 5.25% 12/1/2052 |  | 800 | 834 |
| Glen Cove Local Econ. Assistance Corp., Rev. Bonds (Garvies Point Public Improvement Project), Convertible Capital Appreciation Bonds, Series 2016-C, 0% 1/1/2055 (5.62% on 1/1/2024)<sup>2</sup> |  | 500 | 438 |
| Town of Hempstead Local Dev. Corp., Rev. Ref. Bonds (Molloy College Project), Series 2017, 5.00% 7/1/2034 |  | 810 | 852 |
| Housing Fin. Agcy., Affordable Housing Rev. Bonds, Series 2017-M, 3.65% 11/1/2042 |  | 750 | 687 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2019-D, 3.55% 11/1/2039 |  | 1000 | 926 |
| Housing Fin. Agcy., Affordable Housing Rev. Green Bonds, Series 2021-J-2, 1.10% 11/1/2061 (put 5/1/2027) |  | 705 | 642 |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2017-A, 5.00% 2/15/2033 |  | 2700 | 2973 |
| Hudson Yards Infrastructure Corp., Rev. Bonds, Series 2017-A, 5.00% 2/15/2035 |  | 1000 | 1091 |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 5.00% 11/1/2037 |  | 1000 | 988 |

---

338 American Funds Tax-Exempt Funds

American Funds Tax-Exempt Fund of New York (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% 11/1/2042 | USD | 715 | $608 |
| Jefferson County Civic Fac. Dev. Corp., Rev. Bonds (Samaritan Medical Center Project), Series 2017-A, 4.00% 11/1/2047 |  | 500 | 415 |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds, Series 2021-WTC-1, 4.00% 2/15/2043 |  | 1265 | 1233 |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (3 World Trade Center Project), Series 2014, Class 2, 5.375% 11/15/2040<sup>1</sup> |  | 350 | 350 |
| Liberty Dev. Corp., Liberty Rev. Ref. Bonds (3 World Trade Center Project), Series 2014, Class 3, 7.25% 11/15/2044<sup>1</sup> |  | 375 | 381 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 2.875% 11/15/2046 |  | 500 | 385 |
| Liberty Dev. Corp., Liberty Rev. Ref. Green Bonds (4 World Trade Center Project), Series 2021-A, 3.00% 11/15/2051 |  | 1500 | 1119 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-C, (1-month USD-LIBOR x 0.70 + 0.75%) 3.808% 5/1/2033 (put 10/1/2023)<sup>3</sup> |  | 1500 | 1499 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-B, 5.00% 9/1/2035 |  | 1315 | 1386 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2018, 5.00% 9/1/2036 |  | 500 | 553 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2015-B, 5.00% 9/1/2038 |  | 750 | 789 |
| Long Island Power Auth., Electric System General Rev. Bonds, Series 2017, 5.00% 9/1/2047 |  | 2225 | 2338 |
| Metropolitan Transportation Auth., Hudson Rail Yards Trust Obligations, Series 2016-A, 5.00% 11/15/2051 |  | 500 | 500 |
| Metropolitan Transportation Auth., Hudson Rail Yards Trust Obligations, Series 2016-A, 5.00% 11/15/2056 |  | 750 | 744 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2014-D-1, 5.00% 11/15/2039 |  | 305 | 307 |
| Metropolitan Transportation Auth., Transportation Rev. Bonds, Series 2015-A-2, 5.00% 11/15/2045 (put 5/15/2030) |  | 1000 | 1094 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2016-A-2, 5.00% 11/15/2026 |  | 1440 | 1534 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2017-A-1, 5.00% 11/15/2027 |  | 970 | 1045 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-C-1, 5.00% 11/15/2039 |  | 1640 | 1719 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2019-B, 5.00% 11/15/2052 |  | 1305 | 1333 |
| Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2017-A-1, 5.25% 11/15/2057 |  | 750 | 766 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-A-2, 5.00% 11/15/2026 |  | 1000 | 1065 |
| Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2017-C-1, 4.00% 11/15/2034 |  | 1000 | 1005 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 7/1/2025 |  | 325 | 342 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 7/1/2033 |  | 430 | 448 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Highland Hospital of Rochester Project), Series 2015, 5.00% 7/1/2034 |  | 380 | 395 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (Rochester General Hospital Project), Series 2020-A, 4.00% 12/1/2046 |  | 1500 | 1397 |
| Monroe County Industrial Dev. Corp., Rev. Bonds (University of Rochester Project), Series 2017-C, 4.00% 7/1/2036 |  | 1275 | 1301 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 10/1/2030 |  | 230 | 229 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 191, AMT, 3.50% 10/1/2034 |  | 75 | 75 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 194, AMT, 3.50% 10/1/2035 |  | 95 | 95 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 206, AMT, 4.00% 10/1/2037 |  | 265 | 265 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 48, 2.625% 4/1/2041 |  | 190 | 189 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 178, 3.50% 10/1/2043 |  | 55 | 55 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 197, 3.50% 10/1/2044 |  | 265 | 265 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 200, 3.50% 10/1/2045 |  | 90 | 90 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 195, 4.00% 10/1/2046 |  | 490 | 492 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 54, 4.00% 4/1/2047 |  | 665 | 669 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 203, 3.50% 10/1/2047 |  | 395 | 395 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 213, 4.25% 10/1/2047 |  | 1000 | 1015 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 208, 4.00% 10/1/2048 |  | 265 | 267 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 217, 4.00% 10/1/2049 |  | 670 | 677 |
| Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 242, 3.50% 10/1/2052 |  | 1095 | 1098 |
| County of Nassau, G.O. General Improvement Bonds, Series 2017-A, 5.00% 1/15/2030 |  | 1000 | 1101 |
| Nassau County Tobacco Settlement Corp., Tobacco Settlement Asset-Backed Bonds, Series 2006-A-3, 5.00% 6/1/2035 |  | 600 | 575 |
| Nassau County Tobacco Settlement Corp., Tobacco Settlement Asset-Backed Bonds, Series 2006-A-3, 5.125% 6/1/2046 |  | 705 | 680 |
| City of New Rochelle, Local Dev. Rev. Bonds (Iona College Project), Series 2015-A, 5.00% 7/1/2045 |  | 250 | 255 |
| New York City G.O. Bonds, Series 2016-A, 5.00% 8/1/2026 |  | 1000 | 1068 |
| New York City G.O. Bonds, Series 2016-C, 5.00% 8/1/2031 |  | 1000 | 1072 |

---

American Funds Tax-Exempt Funds 339

American Funds Tax-Exempt Fund of New York (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| New York City G.O. Bonds, Series 2018-C, 5.00% 8/1/2032 | USD | 1000 | $1128 |
| New York City G.O. Bonds, Series 2015-C, 5.00% 8/1/2033 |  | 1000 | 1046 |
| New York City G.O. Bonds, Series 2017-A-1, 5.00% 8/1/2034 |  | 1000 | 1076 |
| New York City G.O. Bonds, Series 2020-B-1, 4.00% 10/1/2040 |  | 1250 | 1259 |
| New York City G.O. Bonds, Series 2022-B-1, 5.25% 10/1/2047 |  | 1170 | 1325 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (8 Spruce Street), Series 2014-E, 3.50% 2/15/2048 |  | 1670 | 1634 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2020-A-3, 1.125% 5/1/2060 (put 11/1/2024) |  | 750 | 721 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Dev. Bonds), Series 2021-C-2, 0.70% 11/1/2060 (put 7/1/2025) |  | 635 | 595 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2017-A-1-A, 3.80% 11/1/2037 |  | 885 | 878 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2015-H, 2.95% 11/1/2045 (put 2/1/2026) |  | 750 | 751 |
| New York City Housing Dev. Corp., Multi Family Housing Rev. Bonds (Sustainable Neighborhood Bonds), Series 2018-L-2, 2.75% 5/1/2050 (put 12/29/2023) |  | 500 | 500 |
| New York City Industrial Dev. Agcy., Airport Facs. Rev. Ref. Bonds (Transportation Infrastructure Properties, LLC Obligated Group), Series 2012-A, AMT, 5.00% 7/1/2028 |  | 250 | 250 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Queens Baseball Stadium Project), Series 2021-A, Assured Guaranty Municipal insured, 3.00% 1/1/2034 |  | 750 | 731 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2040 |  | 1000 | 854 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 3/1/2045 |  | 1000 | 946 |
| New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 3.00% 3/1/2049 |  | 750 | 580 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2021-DD, 5.00% 6/15/2031 |  | 1100 | 1343 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-HH, 5.00% 6/15/2039 |  | 690 | 724 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2022-BB-1, 4.00% 6/15/2045 |  | 1000 | 997 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2015-EE, 5.00% 6/15/2045 |  | 500 | 512 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2018-BB-1, 5.00% 6/15/2046 |  | 1250 | 1326 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2017-DD, 5.00% 6/15/2047 |  | 1055 | 1113 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Series 2020-GG-1, 4.00% 6/15/2050 |  | 1000 | 987 |
| New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Series 2019-S-3, 5.00% 7/15/2036 |  | 1000 | 1106 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2019-A-1, 5.00% 8/1/2036 |  | 2380 | 2627 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2020-B-1, 4.00% 11/1/2040 |  | 1500 | 1513 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2017-F-1, 5.00% 5/1/2042 |  | 1000 | 1067 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2018-A-3, 4.00% 8/1/2042 |  | 2925 | 2927 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2021-B-1, 4.00% 8/1/2045 |  | 3500 | 3460 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2022-F-1, 5.00% 2/1/2047 |  | 1000 | 1108 |
| New York City Trust for Cultural Resources, Rev. Ref. Bonds (Lincoln Center for the Performing Arts, Inc.), Series 2020-A, 4.00% 12/1/2035 |  | 1000 | 1043 |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-B, 3.50% 11/1/2024<sup>1</sup> |  | 1000 | 978 |
| Niagara Area Dev. Corp., Solid Waste Disposal Fac. Rev. Ref. Bonds (Covanta Project), Series 2018-A, AMT, 4.75% 11/1/2042<sup>1</sup> |  | 1000 | 914 |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 4/1/2027 |  | 600 | 612 |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 4/1/2028 |  | 500 | 510 |
| Niagara Frontier Transportation Auth., Airport Rev. Ref. Bonds (Buffalo Niagara International Airport), Series 2014-A, AMT, 5.00% 4/1/2029 |  | 700 | 714 |
| Oneida County Local Dev. Corp., Rev. Bonds (Mohawk Valley Health System Project), Series 2019-A, Assured Guaranty Municipal insured, 4.00% 12/1/2038 |  | 1000 | 998 |

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340 American Funds Tax-Exempt Funds

American Funds Tax-Exempt Fund of New York (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Oneida County Local Dev. Corp., Rev. Bonds (Mohawk Valley Health System Project), Series 2019-A, Assured Guaranty Municipal insured, 4.00% 12/1/2049 | USD | 1000 | $955 |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, Assured Guaranty Municipal insured, 5.00% 5/1/2025 |  | 500 | 523 |
| County of Onondaga, Resource Recovery Agcy., Rev. Ref. Bonds, Series 2015-A, AMT, Assured Guaranty Municipal insured, 5.00% 5/1/2030 |  | 1750 | 1824 |
| County of Onondaga, Trust for Cultural Resources, Rev. Bonds, Series 2019, 5.00% 12/1/2040 |  | 1000 | 1115 |
| Port Auth., Consolidated Bonds, Series 212, 4.00% 9/1/2038 |  | 1000 | 1014 |
| Port Auth., Consolidated Bonds, Series 217, 5.00% 11/1/2044 |  | 1500 | 1627 |
| Port Auth., Consolidated Bonds, Series 205, 5.00% 11/15/2047 |  | 1000 | 1062 |
| Port Auth., Consolidated Rev. Ref. Bonds, Series 186, AMT, 5.00% 10/15/2044 |  | 500 | 508 |
| Power Auth., Rev. Bonds, Series 2020-A, 4.00% 11/15/2055 |  | 1500 | 1476 |
| Power Auth., Rev. Bonds (Green Transmission Project), Series 2022-A, Assured Guaranty Municipal insured, 4.00% 11/15/2047 |  | 1000 | 995 |
| County of Rockland, G.O. Bonds, Series 2014-A, Assured Guaranty Municipal insured, 5.00% 3/1/2024 |  | 1000 | 1028 |
| Schenectady County Capital Resource Corp., Rev. Bonds (Union College Project), Series 2022, 5.25% 7/1/2052 |  | 1000 | 1105 |
| Southold Local Dev. Corp., Rev. Bonds (Peconic Landing at Southold, Inc. Project), Series 2015, 5.00% 12/1/2045 |  | 1500 | 1502 |
| County of Suffolk, G.O. Rev. Ref. Bonds, Series 2017-A, Assured Guaranty Municipal insured, 5.00% 2/1/2026 |  | 540 | 583 |
| Thruway Auth., General Rev. Bonds, Series 2020-N, 4.00% 1/1/2047 |  | 1500 | 1469 |
| Thruway Auth., General Rev. Bonds, Series 2020-N, 3.00% 1/1/2049 |  | 1970 | 1539 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2039 |  | 2835 | 2854 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, 4.00% 1/1/2045 |  | 2160 | 2115 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, BAM insured, 4.00% 1/1/2050 |  | 615 | 603 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2019-B, Assured Guaranty Municipal insured, 4.00% 1/1/2053 |  | 1015 | 966 |
| Thruway Auth., General Rev. Indebtedness Obligations, Series 2016-A, 5.25% 1/1/2056 |  | 250 | 261 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2021-A-1, 4.00% 3/15/2042 |  | 1670 | 1683 |
| Thruway Auth., Personal Income Tax Rev. Bonds, Series 2022-A-1, 4.00% 3/15/2050 |  | 1000 | 984 |
| Tompkins County Dev. Corp., Continuing Care Retirement Community Rev. Bonds (Kendal at Ithaca, Inc. Project), Series 2022-A, 4.00% 7/1/2042 |  | 750 | 663 |
| Tompkins County Dev. Corp., Continuing Care Retirement Community Rev. Bonds (Kendal at Ithaca, Inc. Project), Series 2014-A, 5.00% 7/1/2044 |  | 915 | 916 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2021, AMT, 3.00% 8/1/2031 |  | 250 | 231 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (American Airlines, Inc. John F. Kennedy International Airport Project), Series 2020, AMT, 5.375% 8/1/2036 |  | 1000 | 1016 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 5.00% 12/1/2037 |  | 600 | 627 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-A, AMT, 4.00% 12/1/2039 |  | 750 | 712 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2020-C, 4.00% 12/1/2040 |  | 1000 | 969 |
| Transportation Dev. Corp., Special Fac. Rev. Bonds (Terminal Four John F. Kennedy International Airport Project), Series 2022, AMT, 5.00% 12/1/2042 |  | 925 | 954 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.00% 7/1/2034 |  | 500 | 509 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.00% 7/1/2046 |  | 1000 | 1001 |
| Transportation Dev. Corp., Special Facs. Bonds (LaGuardia Airport Terminal B Redev. Project), Series 2016-A, AMT, 5.25% 1/1/2050 |  | 500 | 501 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 5.00% 10/1/2035 |  | 500 | 523 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2018, AMT, 4.00% 1/1/2036 |  | 500 | 487 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 5.00% 10/1/2040 |  | 750 | 768 |
| Transportation Dev. Corp., Special Facs. Rev. Bonds (Delta Air Lines, Inc. LaGuardia Airport Terminals C & D Redev. Project), Series 2020, AMT, 4.375% 10/1/2045 |  | 2500 | 2378 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2018-A, 5.00% 11/15/2030 |  | 650 | 778 |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 4.00% 11/15/2054 |  | 1500 | 1466 |

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American Funds Tax-Exempt Funds 341

American Funds Tax-Exempt Fund of New York (continued)

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| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **New York (continued)** |  |  |  |
| Triborough Bridge and Tunnel Auth., General Rev. Bonds (MTA Bridges and Tunnels), Series 2020-A, 5.00% 11/15/2054 | USD | 1250 | $1356 |
| Triborough Bridge and Tunnel Auth., General Rev. Ref. Bonds (MTA Bridges and Tunnels), Series 2023-A, 5.00% 11/15/2036 |  | 500 | 591 |
| City of Troy Capital Resource Corp., Rev. Bonds (Rensselaer Polytechnic Institute Project), Series 2015, 5.00% 8/1/2027 |  | 800 | 846 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2023 |  | 600 | 609 |
| City of Troy Capital Resource Corp., Rev. Ref. Bonds (Rensselaer Polytechnic Institute Project), Series 2020-A, 5.00% 9/1/2038 |  | 1500 | 1615 |
| TSASC, Inc., Tobacco Settlement Bonds, Series 2017-A, 5.00% 6/1/2025 |  | 750 | 776 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2026 |  | 1500 | 1630 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2014-A, 5.00% 3/15/2027 (preref. 3/15/2024) |  | 750 | 772 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2016-A, 5.00% 3/15/2032 |  | 1000 | 1075 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 3/15/2036 |  | 1500 | 1655 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 3/15/2042 |  | 1000 | 1000 |
| Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 3/15/2049 |  | 1415 | 1381 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 4.00% 3/15/2039 |  | 1500 | 1519 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 4.00% 3/15/2043 |  | 1785 | 1774 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 4.00% 3/15/2045 |  | 1500 | 1481 |
| Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2021-A, 4.00% 3/15/2048 |  | 1500 | 1470 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2022-TE-1, 5.00% 6/15/2034 |  | 1100 | 1347 |
| Utility Debt Securitization Auth., Restructuring Bonds, Series 2017, 5.00% 12/15/2041 |  | 1500 | 1627 |
| Westchester County Health Care Corp., Rev. Bonds, Series 2010-B, 6.00% 11/1/2030 |  | 120 | 120 |
| Westchester County Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 6/1/2037 |  | 1000 | 1027 |
| Westchester County Local Dev. Corp., Rev. Bonds (Purchase Housing Corp. II Project), Series 2017, 5.00% 6/1/2047 |  | 1025 | 1040 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-D, 2.875% 7/1/2026<sup>1</sup> |  | 350 | 338 |
| Westchester County Local Dev. Corp., Rev. Bonds (Senior Learning Community, Inc.), Series 2021-A, 5.00% 7/1/2056<sup>1</sup> |  | 335 | 260 |
| Westchester County Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, 5.00% 11/1/2034 |  | 1150 | 1172 |
| Westchester County Local Dev. Corp., Rev. Bonds (Westchester Medical Center Obligated Group Project), Series 2016, 5.00% 11/1/2046 |  | 1500 | 1456 |
| Westchester County Local Dev. Corp., Rev. Ref. Bonds (Kendal on Hudson Project), Series 2022-B, 5.00% 1/1/2051 |  | 1000 | 974 |
| Westchester County Local Dev. Corp., Rev. Ref. Bonds (Pace University), Series 2014-A, 5.50% 5/1/2042 |  | 450 | 455 |
| City of Yonkers, G.O. Bonds, Series 2015-B, Assured Guaranty Municipal insured, 5.00% 8/1/2024 |  | 490 | 509 |
| Yonkers Econ. Dev. Corp., Educational Rev. Bonds (Lamartine/Warburton, LLC - Charter School of Educational Excellence Project), Series 2019-A, 5.00% 10/15/2049 |  | 1100 | 1028 |
|  |  |  | **219609** |
| **Guam 1.53%** |  |  |  |
| A.B. Won Pat International Airport Auth., General Rev. Bonds, Series 2013-C, AMT, 6.375% 10/1/2043 |  | 240 | 246 |
| Business Privilege Tax Rev. Ref. Bonds, Series 2021-F, 4.00% 1/1/2042 |  | 750 | 707 |
| G.O. Bonds, Series 2019, AMT, 5.00% 11/15/2031 |  | 725 | 780 |
| Hotel Occupancy Tax Rev. Ref. Bonds, Series 2021-A, 5.00% 11/1/2035 |  | 1355 | 1475 |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2013, 5.00% 7/1/2028 |  | 250 | 251 |
| Waterworks Auth., Water and Wastewater System Rev. Bonds, Series 2014-A, 5.00% 7/1/2029 |  | 250 | 255 |
|  |  |  | **3714** |

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342 American Funds Tax-Exempt Funds

American Funds Tax-Exempt Fund of New York (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Bonds, notes & other debt instruments** (continued) | Principal amount<br> (000) | Principal amount<br> (000) | Value<br> (000) |
| **Puerto Rico 0.91%** |  |  |  |
| Industrial, Tourist, Educational, Medical and Environmental Control Facs. Fncg. Auth., Higher Education Rev. and Rev. Ref. Bonds (Inter American University of Puerto Rico Project), Series 2012, 5.00% 10/1/2031 | USD | 750 | $751 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2019-A-2, 4.329% 7/1/2040 |  | 1000 | 960 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Series 2018-A-1, 5.00% 7/1/2058 |  | 500 | 494 |
|  |  |  | **2205** |
| **Total bonds, notes & other debt instruments** (cost: $235,304,000) |  |  | **225528** |
| **Short-term securities 6.23%** |  |  |  |
| **Municipals 6.23%** |  |  |  |
| Dormitory Auth., Rev. Bonds (Cornell University), Series 2019-B, 1.16% 7/1/2039<sup>3</sup> |  | 8575 | 8575 |
| New York City G.O. Bonds, Series 2012-G-6, 1.19% 4/1/2042<sup>3</sup> |  | 300 | 300 |
| New York City Municipal Water Fin. Auth., Water and Sewer System Rev. Bonds, Series 2003-F-2, 1.20% 6/15/2035<sup>3</sup> |  | 800 | 800 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2016-A-4, 1.25% 8/1/2041<sup>3</sup> |  | 2000 | 2000 |
| New York City Transitional Fin. Auth., Future Tax Secured Bonds, Series 2015-E-4, 1.25% 2/1/2045<sup>3</sup> |  | 3500 | 3500 |
|  |  |  | **15175** |
| **Total short-term securities** (cost: $15,175,000) |  |  | **15175** |
| **Total investment securities 98.87%** (cost: $250,479,000) |  |  | **240703** |
| Other assets less liabilities 1.13% |  |  | 2751 |
| **Net assets 100.00%** |  |  | $**243454** |

---

**Futures contracts**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Type** | **Number of<br> contracts** | **Expiration** | **Notional<br> amount<br> (000)** | **Value and<br> unrealized<br> depreciation<br> at 1/31/2023<br> (000)** |
| 5 Year U.S. Treasury Note Futures | Short | 12 | March 2023 | USD(1311) | $(4) |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 23 | March 2023 | (2787) | (48) |
|  |  |  |  |  | $(52) |

---

<sup>1</sup> 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 $10,488,000, which represented 4.31% of the net assets of the fund.

<sup>2</sup> Step bond; coupon rate may change at a later date.

<sup>3</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. For short-term securities, the date of the next scheduled coupon rate change is considered to be the maturity date.

**Key to abbreviations**

Agcy. = Agency

AMT = Alternative Minimum Tax

Auth. = Authority

Dev. = Development

Dist. = District

Econ. = Economic

Fac. = Facility

Facs. = Facilities

Fin. = Finance

Fncg. = Financing

G.O. = General Obligation

LIBOR = London Interbank Offered Rate

Preref. = Prerefunded

Redev. = Redevelopment

Ref. = Refunding

Rev. = Revenue

USD = U.S. dollars

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 343

---

| | |
|:---|:---|
| Financial statements | **unaudited** |
| **Statements of assets and liabilities <br> at January 31, 2023** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **American Funds<br> Short-Term<br> Tax-Exempt Bond Fund** | **Limited Term<br> Tax-Exempt Bond<br> Fund of America** | **The Tax-Exempt<br> Bond Fund<br> of America** |
| **Assets:** |  |  |  |
| Investment securities in unaffiliated issuers, at value | $2464705 | $7152408 | $22629834 |
| Cash |  | 229 | 2745 |
| Cash collateral pledged for futures contracts | 2427 | 8235 | 6788 |
| Receivables for: |  |  |  |
| Sales of investments | 24733 | 12566 | 28069 |
| Sales of fund's shares | 5023 | 11248 | 86692 |
| Interest | 20437 | 59852 | 199567 |
| Variation margin on futures contracts | 798 | 2974 | 849 |
|  | 2518123 | 7247512 | 22954544 |
| **Liabilities:** |  |  |  |
| Payables for: |  |  |  |
| Purchases of investments | 58255 | 88124 | 264359 |
| Repurchases of fund's shares | 5716 | 15307 | 34036 |
| Dividends on fund's shares | 50 | 468 | 2371 |
| Investment advisory services | 430 | 1229 | 3768 |
| Services provided by related parties | 159 | 953 | 3091 |
| Trustees' deferred compensation | 36 | 108 | 748 |
| Variation margin on futures contracts | 61 | 160 | 717 |
| Bank overdraft | 4783 |  |  |
| Other | 1 | 3 | 12 |
|  | 69491 | 106352 | 309102 |
| **Net assets at January 31, 2023** | $2448632 | $7141160 | $22645442 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | $2488634 | $7382633 | $23900404 |
| Total accumulated loss | (40002) | (241473) | (1254962) |
| **Net assets at January 31, 2023** | $2448632 | $7141160 | $22645442 |
| Investment securities in unaffiliated issuers, at cost | $2494656 | $7336021 | $23593650 |

---

Refer to the notes to financial statements.

344 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Financial statements (continued) | **unaudited** |
| **Statements of assets and liabilities<br> at January 31, 2023 (continued)** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **American<br> High-Income<br> Municipal Bond Fund** | **The Tax-Exempt<br> Fund of<br> California** | **American Funds<br> Tax-Exempt Fund<br> of New York** |
| **Assets:** |  |  |  |
| Investment securities in unaffiliated issuers, at value | $10570226 | $2542487 | $240703 |
| Cash | 1132 | 2917 | 409 |
| Cash collateral pledged for futures contracts | 2845 | 1616 | 137 |
| Receivables for: |  |  |  |
| Sales of investments | 4589 |  |  |
| Sales of fund's shares | 30911 | 14017 | 834 |
| Interest | 133052 | 31013 | 2562 |
| Variation margin on futures contracts | 308 | 468 |  |
|  | 10743063 | 2592518 | 244645 |
| **Liabilities:** |  |  |  |
| Payables for: |  |  |  |
| Purchases of investments | 83474 | 5434 | 591 |
| Repurchases of fund's shares | 15984 | 3179 | 474 |
| Dividends on fund's shares | 1743 | 477 | 14 |
| Investment advisory services | 2384 | 526 | 59 |
| Services provided by related parties | 1492 | 417 | 42 |
| Trustees' deferred compensation | 139 | 90 | 3 |
| Variation margin on futures contracts | 270 | 130 | 8 |
| Bank overdraft |  |  |  |
| Other | 6 | 2 | — \* |
|  | 105492 | 10255 | 1191 |
| **Net assets at January 31, 2023** | $10637571 | $2582263 | $243454 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | $11402578 | $2706763 | $257107 |
| Total accumulated loss | (765007) | (124500) | (13653) |
| **Net assets at January 31, 2023** | $10637571 | $2582263 | $243454 |
| Investment securities in unaffiliated issuers, at cost | $11243616 | $2640418 | $250479 |

---

\* Amount less than one thousand.

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 345

---

| | |
|:---|:---|
| Financial statements (continued) | **unaudited** |
| **Statements of assets and liabilities <br> at January 31, 2023 (continued)** | **(dollars and shares in thousands, except per-share amounts)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **American Funds<br> Short-Term<br> Tax-Exempt Bond Fund** | **Limited Term<br> Tax-Exempt Bond<br> Fund of America** | **The Tax-Exempt<br> Bond Fund<br> of America** |
| **Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized** | **Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized** |  |  |  |
| **Class A:** | Net assets | $1420459 | $3784100 | $11753976 |
|  | Shares outstanding | 142957 | 247273 | 949989 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |
| **Class C:** | Net assets |  | $18193 | $252422 |
|  | Shares outstanding | Not applicable | 1189 | 20401 |
|  | Net asset value per share |  | $15.30 | $12.37 |
| **Class T:** | Net assets | $10 | $10 | $10 |
|  | Shares outstanding | 1 | 1 | 1 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |
| **Class F-1:** | Net assets | $5889 | $44281 | $195291 |
|  | Shares outstanding | 593 | 2893 | 15784 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |
| **Class F-2:** | Net assets | $262061 | $953919 | $4699336 |
|  | Shares outstanding | 26374 | 62334 | 379814 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |
| **Class F-3:** | Net assets | $529564 | $1549056 | $5072940 |
|  | Shares outstanding | 53296 | 101224 | 410009 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |
| **Class R-6:** | Net assets | $230649 | $791601 | $671467 |
|  | Shares outstanding | 23213 | 51727 | 54270 |
|  | Net asset value per share | $9.94 | $15.30 | $12.37 |

---

Refer to the notes to financial statements.

346 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Financial statements (continued) | **unaudited** |
| **Statements of assets and liabilities <br> at January 31, 2023 (continued)** | **(dollars and shares in thousands, except per-share amounts)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **American<br> High-Income<br> Municipal Bond Fund** | **The Tax-Exempt<br> Fund of<br> California** | **American Funds<br> Tax-Exempt Fund<br> of New York** |
| **Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized** | **Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized** |  |  |  |
| **Class A:** | Net assets | $4904671 | $1499388 | $169486 |
|  | Shares outstanding | 328763 | 90067 | 16821 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class C:** | Net assets | $138036 | $33944 | $9806 |
|  | Shares outstanding | 9253 | 2039 | 973 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class T:** | Net assets | $10 | $9 | $9 |
|  | Shares outstanding | 1 | 1 | 1 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class F-1:** | Net assets | $114526 | $46885 | $1344 |
|  | Shares outstanding | 7677 | 2816 | 133 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class F-2:** | Net assets | $1857911 | $513274 | $26550 |
|  | Shares outstanding | 124537 | 30832 | 2635 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class F-3:** | Net assets | $2495713 | $488763 | $36259 |
|  | Shares outstanding | 167289 | 29360 | 3599 |
|  | Net asset value per share | $14.92 | $16.65 | $10.08 |
| **Class R-6:** | Net assets | $1126704 |  |  |
|  | Shares outstanding | 75524 | Not applicable | Not applicable |
|  | Net asset value per share | $14.92 |  |  |

---

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 347

---

| | |
|:---|:---|
| Financial statements (continued) | **unaudited** |
| **Statements of operations <br> for the six months ended January 31, 2023** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **American Funds<br> Short-Term<br> Tax-Exempt Bond Fund** | **Limited Term<br> Tax-Exempt Bond<br> Fund of America** | **The Tax-Exempt<br> Bond Fund<br> of America** |
| **Investment income:** |  |  |  |
| Income: |  |  |  |
| Interest from unaffiliated issuers | $25299 | $77441 | $356630 |
| Refund of federal, state and local taxes |  |  |  |
|  | 25299 | 77441 | 356630 |
| **Fees and expenses\*:** |  |  |  |
| Investment advisory services | 2415 | 7124 | 22870 |
| Distribution services | 1037 | 5908 | 16399 |
| Transfer agent services | 371 | 1320 | 5027 |
| Administrative services | 355 | 1068 | 3473 |
| Reports to shareholders | 28 | 78 | 260 |
| Registration statement and prospectus | 291 | 427 | 583 |
| Trustees' compensation | 5 | 22 | 64 |
| Auditing and legal | 76 | 93 | 193 |
| Custodian | 3 | 9 | 26 |
| Federal, state and local taxes |  |  |  |
| Other | 2 | 4 | 9 |
| Total fees and expenses before waiver/reimbursements | 4583 | 16053 | 48904 |
| Less waiver/reimbursements of fees and expenses: |  |  |  |
| Investment advisory services waiver |  |  |  |
| Miscellaneous fee reimbursements | 350 |  |  |
| Total fees and expenses after waiver/reimbursements | 4233 | 16053 | 48904 |
| **Net investment income** | 21066 | 61388 | 307726 |
| **Net realized loss and unrealized appreciation (depreciation):** |  |  |  |
| Net realized (loss) gain on: |  |  |  |
| Investments in unaffiliated issuers | (2598) | (25648) | (257233) |
| Futures contracts | (247 | (1374) | 17282 |
|  | (2845 | (27022) | (239951 |
| Net unrealized (depreciation) appreciation on: |  |  |  |
| Investments in unaffiliated issuers | (1176) | 7109 | (59740) |
| Futures contracts | 1724 | 5840 | 6714 |
|  | 548 | 12949 | (53026 |
| Net realized loss and unrealized appreciation (depreciation) | (2297 | (14073) | (292977 |
| **Net increase (decrease) in net assets resulting from operations** | $18769 | $47315 | $14749 |

---

Refer to the end of the statements of operations for footnotes.

Refer to the notes to financial statements.

348 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Financial statements (continued) | **unaudited** |
| **Statements of operations <br> for the six months ended January 31, 2023 (continued)** | **(dollars in thousands)** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **American<br> High-Income<br> Municipal Bond Fund** | **The Tax-Exempt<br> Fund of<br> California** | **American Funds<br> Tax-Exempt Fund<br> of New York** |
| **Investment income:** |  |  |  |
| Income: |  |  |  |
| Interest from unaffiliated issuers | $237235 | $41189 | $3932 |
| Refund of federal, state and local taxes |  | 522 |  |
|  | 237235 | 41711 | 3932 |
| **Fees and expenses\*:** |  |  |  |
| Investment advisory services | 13850 | 3162 | 310 |
| Distribution services | 8203 | 2191 | 264 |
| Transfer agent services | 2369 | 446 | 49 |
| Administrative services | 1553 | 388 | 37 |
| Reports to shareholders | 150 | 22 | 8 |
| Registration statement and prospectus | 556 | 90 | 76 |
| Trustees' compensation | 20 | 7 | 1 |
| Auditing and legal | 89 | 70 | 56 |
| Custodian | 14 | 3 | 4 |
| Federal, state and local taxes | 3 |  |  |
| Other | 70 | 2 | 1 |
| Total fees and expenses before waiver/reimbursements | 26877 | 6381 | 806 |
| Less waiver/reimbursements of fees and expenses: |  |  |  |
| Investment advisory services waiver |  |  | 19 |
| Miscellaneous fee reimbursements |  |  | 104 |
| Total fees and expenses after waiver/reimbursements | 26877 | 6381 | 683 |
| **Net investment income** | 210358 | 35330 | 3249 |
| **Net realized loss and unrealized appreciation (depreciation):** |  |  |  |
| Net realized (loss) gain on: |  |  |  |
| Investments in unaffiliated issuers | (96598) | (16665) | (2441) |
| Futures contracts | 3182 | 3947 | 116 |
|  | (93416) | (12718) | (2325 |
| Net unrealized (depreciation) appreciation on: |  |  |  |
| Investments in unaffiliated issuers | (215834) | (6984) | (1191) |
| Futures contracts | 4679 | 621 | (12 |
|  | (211155) | (6363) | (1203 |
| Net realized loss and unrealized appreciation (depreciation) | (304571) | (19081) | (3528 |
| **Net increase (decrease) in net assets resulting from operations** | $(94213) | $16249 | $(279 |

---

---

| | |
|:---|:---|
| \* | Additional information related to class-specific fees and expenses is included in the notes to financial statements. |
| <sup>†</sup> | Amount less than one thousand. |

---

Refer to the notes to financial statements.

American Funds Tax-Exempt Funds 349

---

| | |
|:---|:---|
| Financial statements (continued) |  |
| **Statements of changes in net assets** | **(dollars in thousands)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **American Funds<br> Short-Term<br> Tax-Exempt Bond Fund** | **American Funds<br> Short-Term<br> Tax-Exempt Bond Fund** | **Limited Term<br> Tax-Exempt Bond<br> Fund of America** | **Limited Term<br> Tax-Exempt Bond<br> Fund of America** | **The Tax-Exempt<br> Bond Fund<br> of America** | **The Tax-Exempt<br> Bond Fund<br> of America** |
|  | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $21066 | $11983 | $61388 | $72075 | $307726 | $579336 |
| Net realized loss | (2845) | (9811) | (27022) | (31563) | (239951) | (43409) |
| Net unrealized appreciation (depreciation) | 548 | (51399) | 12949 | (374102) | (53026) | (2659700) |
| Net increase (decrease) in net assets resulting from operations | 18769 | (49227) | 47315 | (333590) | 14749 | (2123773) |
| **Distributions paid or accrued to shareholders** | (20062) | (16201) | (59122) | (108894) | (302377) | (724558) |
| **Net capital share transactions** | 245106 | 474656 | 207876 | (177154) | (2217361) | (23963) |
| **Total increase (decrease) in net assets** | 243813 | 409228 | 196069 | (619638) | (2504989) | (2872294) |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 2204819 | 1795591 | 6945091 | 7564729 | 25150431 | 28022725 |
| End of period | $2448632 | $2204819 | $7141160 | $6945091 | $22645442 | $25150431 |
|  | **American**<br> **High-Income**<br> **Municipal Bond Fund** | **American**<br> **High-Income**<br> **Municipal Bond Fund** | **The Tax-Exempt**<br> **Fund of**<br> **California** | **The Tax-Exempt**<br> **Fund of**<br> **California** | **American Funds**<br> **Tax-Exempt Fund**<br> **of New York** | **American Funds**<br> **Tax-Exempt Fund**<br> **of New York** |
|  | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 | Six months<br> ended<br> January 31,<br> 2023\* | Year ended<br> July 31,<br> 2022 |
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $210358 | $343550 | $35330 | $65720 | $3249 | $6038 |
| Net realized loss | (93416) | (9513) | (12718) | (14030) | (2325) | (1710) |
| Net unrealized appreciation (depreciation) | (211155) | (1252614) | (6363) | (294953) | (1203) | (29636) |
| Net increase (decrease) in net assets resulting from operations | (94213) | (918577) | 16249 | (243263) | (279) | (25308) |
| **Distributions paid or accrued to shareholders** | (190909) | (418026) | (34118) | (77123) | (3234) | (8204) |
| **Net capital share transactions** | 72955 | 1223844 | (125508) | (178535) | (13370) | 1969 |
| **Total increase (decrease) in net assets** | (212167) | (112759) | (143377) | (498921) | (16883) | (31543) |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 10849738 | 10962497 | 2725640 | 3224561 | 260337 | 291880 |
| End of period | $10637571 | $10849738 | $2582263 | $2725640 | $243454 | $260337 |

---

\* Unaudited.

Refer to the notes to financial statements.

350 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Notes to financial statements | **unaudited** |

---

**1. Organization**

American Funds Short-Term Tax-Exempt Bond Fund, Limited Term Tax-Exempt Bond Fund of America, The Tax-Exempt Bond Fund of America, American High-Income Municipal Bond Fund, The Tax-Exempt Fund of California, which is presently the only series of The American Funds Tax-Exempt Series II, and American Funds Tax-Exempt Fund of New York (each a "fund" or collectively, the "funds"), are registered under the Investment Company Act of 1940 as open-end, diversified management investment companies.

Each fund's investment objectives are as follows:

**American Funds Short-Term Tax-Exempt Bond Fund** — Seeks to provide current income exempt from regular federal income tax, consistent with the maturity and quality standards described in the prospectus, and to preserve capital.

**Limited Term Tax-Exempt Bond Fund of America** — Seeks to provide current income exempt from regular federal income tax, consistent with the maturity and quality standards described in the prospectus, and to preserve capital.

**The Tax-Exempt Bond Fund of America** — Seeks to provide a high level of current income exempt from federal income tax, consistent with the preservation of capital.

**American High-Income Municipal Bond Fund** — Seeks to provide a high level of current income exempt from regular federal income tax.

**The Tax-Exempt Fund of California** — Seeks to provide a high level of current income exempt from regular federal and California state income taxes. Its secondary objective is preservation of capital.

**American Funds Tax-Exempt Fund of New York** — Seeks to provide a high level of current income exempt from regular federal, New York state and New York City income taxes. Its secondary objective is preservation of capital.

American Funds Short-Term Tax-Exempt Bond Fund has six share classes consisting of five retail share classes (Classes A and T, as well as three F share classes, F-1, F-2 and F-3) and one share class that is only available to the American Funds Portfolio Series (Class R-6). Limited Term Tax-Exempt Bond Fund of America, The Tax-Exempt Bond Fund of America and American High-Income Municipal Bond Fund each have seven share classes consisting of six retail share classes (Classes A, C and T, as well as three F share classes, F-1, F-2 and F-3) and one share class that is only available to the American Funds Portfolio Series (Class R-6). The Tax-Exempt Fund of California and American Funds Tax-Exempt Fund of New York each have six retail share classes (Classes A, C and T, as well as three F share classes, F-1, F-2 and F-3). Some share classes are only available to limited categories of investors. The funds' share classes are described further in the following table:

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Initial sales charge** | **Contingent deferred sales<br> charge upon redemption** | **Conversion feature** |
| **Class A** | Up to 2.50% for American Funds Short-Term Tax-Exempt Bond Fund and Limited Term Tax-Exempt Bond Fund of America; up to 3.75% for all other funds | None (except 0.75% for certain redemptions within 18 months of purchase without an initial sales charge) |  |
| **Class C\*** |  | 1.00% for redemptions within one year of purchase | Class C converts to Class A after eight years |
| **Class T<sup>†</sup>** | Up to 2.50% |  |  |
| **Classes F-1, F-2 and F-3** |  |  |  |
| **Class R-6** |  |  |  |

---

\* Class C shares are not available for purchase in Limited Term Tax-Exempt Bond Fund of America. <br> <sup>†</sup> Class T shares are not available for purchase.

Holders of all share classes of each fund have equal pro rata rights to the assets, dividends and liquidation proceeds of each fund held. Each share class of each fund has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses ("class-specific fees and expenses"), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class of each fund.

American Funds Tax-Exempt Funds 351

**2. Significant accounting policies**

Each fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. Each fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the funds' investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The funds follow the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Security transactions and related investment income** — Security transactions are recorded by the funds as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the funds will segregate liquid assets sufficient to meet their payment obligations. Interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

**Class allocations —** Income, fees and expenses (other than class-specific fees and expenses) are allocated daily among the various share classes of each fund based on the relative value of their settled shares. Realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes of each fund based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class of each fund.

**Distributions paid or accrued to shareholders** — Income dividends are declared daily after the determination of each fund's net investment income and are paid to shareholders monthly. Capital gain distributions are recorded on each fund's ex-dividend date.

**3. Valuation**

Capital Research and Management Company ("CRMC"), the funds' investment adviser, values each fund's investments at fair value as defined by U.S. GAAP. The net asset value per share of each share class of each fund 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.

**Methods and inputs** — The funds' investment adviser uses the following methods and inputs to establish the fair value of each fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the following inputs: 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. For certain distressed securities, valuations may include cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts.

Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the funds' investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by each fund's investment adviser and approved by the board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, contractual or legal restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of each 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.

352 American Funds Tax-Exempt Funds

**Processes and structure** — Each fund's board of trustees has designated the funds' 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 boards of trustees. Each fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

**Classifications** — The funds' investment adviser classifies each 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 funds' valuation levels as of January 31, 2023 are as follows (dollars in thousands):

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| **Bonds, notes & other debt instruments:** |  |  |  |  |
| Texas | $— | $271473 | $— | $271473 |
| California |  | 228232 |  | 228232 |
| New York |  | 198589 |  | 198589 |
| Florida |  | 88307 |  | 88307 |
| Illinois |  | 78526 |  | 78526 |
| Alabama |  | 78345 |  | 78345 |
| Georgia |  | 73528 |  | 73528 |
| Pennsylvania |  | 67918 |  | 67918 |
| Indiana |  | 59883 |  | 59883 |
| New Jersey |  | 48929 |  | 48929 |
| Other |  | 880631 |  | 880631 |
| **Short-term securities** |  | 390344 |  | 390344 |
| **Total** | $**—** | $**2464705** | $**—** | $**2464705** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| Unrealized appreciation on futures contracts | $2712 | $— | $— | $2712 |
| **Liabilities**: |  |  |  |  |
| Unrealized depreciation on futures contracts | (1519) |  |  | (1519) |
| **Total** | $**1193** | $**—** | $**—** | $**1193** |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 353

**Limited Term Tax-Exempt Bond Fund of America**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| **Bonds, notes & other debt instruments:** |  |  |  |  |
| Texas | $— | $836064 | $— | $836064 |
| New York |  | 560448 |  | 560448 |
| California |  | 498156 |  | 498156 |
| Illinois |  | 314734 |  | 314734 |
| Pennsylvania |  | 283152 |  | 283152 |
| Florida |  | 266552 |  | 266552 |
| Alabama |  | 223945 |  | 223945 |
| Colorado |  | 205562 |  | 205562 |
| Georgia |  | 187082 |  | 187082 |
| Ohio |  | 177213 |  | 177213 |
| Other |  | 2668281 |  | 2668281 |
| **Short-term securities** |  | 931219 |  | 931219 |
| **Total** | $**—** | $**7152408** | $**—** | $**7152408** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| Unrealized appreciation on futures contracts | $10462 | $— | $— | $10462 |
| **Liabilities:** |  |  |  |  |
| Unrealized depreciation on futures contracts | (6585) |  |  | (6585) |
| **Total** | $**3877** | $**—** | $**—** | $**3877** |
| **The Tax-Exempt Bond Fund of America** |  |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| **Bonds, notes & other debt instruments:** |  |  |  |  |
| New York | $— | $2644552 | $— | $2644552 |
| Illinois |  | 2514758 |  | 2514758 |
| Texas |  | 1971748 |  | 1971748 |
| California |  | 1393682 |  | 1393682 |
| Florida |  | 1171657 | 2390 | 1174047 |
| Pennsylvania |  | 964559 |  | 964559 |
| Michigan |  | 605725 |  | 605725 |
| Georgia |  | 483597 |  | 483597 |
| Arizona |  | 451671 |  | 451671 |
| Colorado |  | 443097 |  | 443097 |
| Other |  | 7394869 |  | 7394869 |
| **Short-term securities** |  | 2587529 |  | 2587529 |
| **Total** | $**—** | $**22627444** | $**2390** | $**22629834** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| Unrealized appreciation on futures contracts | $255 | $— | $— | $255 |
| **Liabilities**: |  |  |  |  |
| Unrealized depreciation on futures contracts | (2273) |  |  | (2273) |
| **Total** | $**(2018)** | $**—** | $**—** | $**(2018)** |

---

Refer to the end of the tables for footnote.

354 American Funds Tax-Exempt Funds

**American High-Income Municipal Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| **Bonds, notes & other debt instruments:** |  |  |  |  |
| Colorado | $— | $1072617 | $— | $1072617 |
| Illinois |  | 1010614 |  | 1010614 |
| Puerto Rico |  | 632347 |  | 632347 |
| Texas |  | 603593 |  | 603593 |
| New York |  | 590477 |  | 590477 |
| California |  | 559840 |  | 559840 |
| Florida |  | 461702 | 2423 | 464125 |
| Pennsylvania |  | 397907 |  | 397907 |
| Ohio |  | 375438 |  | 375438 |
| Arizona |  | 362763 |  | 362763 |
| Other |  | 3388197 | 19550 | 3407747 |
| **Short-term securities** |  | 1092758 |  | 1092758 |
| **Total** | $**—** | $**10548253** | $**21973** | $**10570226** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| Unrealized appreciation on futures contracts | $460 | $— | $— | $460 |
| **Liabilities**: |  |  |  |  |
| Unrealized depreciation on futures contracts | (932) |  |  | (932) |
| **Total** | $**(472)** | $**—** | $**—** | $**(472)** |

---

**The Tax-Exempt Fund of California**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| **Bonds, notes & other debt instruments:** |  |  |  |  |
| Municipals | $— | $2270220 | $— | $2270220 |
| Mortgage-backed obligations |  | 1713 |  | 1713 |
| **Short-term securities** |  | 270554 |  | 270554 |
| **Total** | $**—** | $**2542487** | $**—** | $**2542487** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets**: |  |  |  |  |
| Unrealized appreciation on futures contracts | $1708 | $— | $— | $1708 |
| **Liabilities**: |  |  |  |  |
| Unrealized depreciation on futures contracts | (1490) |  |  | (1490) |
| **Total** | $**218** | $**—** | $**—** | $**218** |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 355

**American Funds Tax-Exempt Fund of New York**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** |  |  |  |  |
| **Bonds, notes & other debt instruments:**<br> Municipals | $— | $225528 | $— | $225528 |
| **Short-term securities** |  | 15175 |  | 15175 |
| **Total** | $**—** | $**240703** | $**—** | $**240703** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Liabilities:** |  |  |  |  |
| Unrealized depreciation on futures contracts | $(52) | $— | $— | $(52) |

---

\* Futures contracts are not included in the fund's investment portfolio.

**4. Risk factors**

Investing in each fund may involve certain risks including, but not limited to, those described below.

**Market conditions** — The prices of, and the income generated by, the securities held by the funds may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the funds' investments may be negatively affected by developments in other countries and regions.

**Issuer risks** — The prices of, and the income generated by, securities held by the funds may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.

**Investing in municipal securities** — Municipal securities are debt obligations that are exempt from federal, state and/or local income taxes. The yield and/or value of the funds' investments in municipal securities may be adversely affected by events tied to the municipal securities markets, which can be very volatile and significantly impacted by unfavorable legislative or political developments and negative changes in the financial conditions of municipal securities issuers and the economy. To the extent the funds invest in obligations of a municipal issuer, the volatility, credit quality and performance of the funds may be adversely impacted by local political and economic conditions of the issuer. For example, a credit rating downgrade, bond default or bankruptcy involving an issuer within a particular state or territory could affect the market values and marketability of many or all municipal obligations of that state or territory. Income from municipal securities held by the funds could also be declared taxable because of changes in tax laws or interpretations by taxing authorities or as a result of noncompliant conduct of a municipal issuer. Additionally, the relative amount of publicly available information about municipal securities is generally less than that for corporate securities.

**Investing in debt instruments** — The prices of, and the income generated by, bonds and other debt securities held by the funds may be affected by factors such as the interest rates, maturities and credit quality of these securities.

356 American Funds Tax-Exempt Funds

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers are less likely to refinance existing debt securities in order to enjoy lower interest rates in a higher interest rate environment, causing the market prices of such securities to decline more than they would have declined due to the rise in interest rates alone. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the funds. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the funds failing to recoup the full amount of their initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. Changes in actual or perceived creditworthiness may occur quickly. A downgrade or default affecting any of the fund's securities could cause the value of the fund's shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the funds invest. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The funds' investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

**Liquidity risk** — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. During times of market turmoil, there have been, and may be, no buyers or sellers for securities in entire asset classes. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs, or to try to limit losses, or may be forced to sell at a loss.

**Credit and liquidity support** — Changes in the credit quality of banks and financial institutions providing credit and liquidity support features with respect to securities held by the funds could cause the values of these securities to decline.

**Investing in lower rated debt instruments** — Lower rated bonds and other lower rated debt securities generally have higher rates of interest and involve greater risk of default or price declines due to changes in the issuer's creditworthiness than those of higher quality debt securities. The market prices of these securities may fluctuate more than the prices of higher quality debt securities and may decline significantly in periods of general economic difficulty. These risks may be increased with respect to investments in junk bonds.

**Investing in similar municipal bonds** — Investing significantly in municipal obligations of multiple issuers in the same state or backed by revenues of similar types of projects or industries may make the funds more susceptible to certain economic, political or regulatory occurrences. As a result, the funds have greater risk of volatility, and greater risk of loss, from the investments.

**Insured municipal bonds** – The funds may invest in municipal bonds that are insured generally as to the timely payment of interest and repayment of principal. Insurance that covers a municipal bond does not guarantee the market value of the bond or the prices of the funds' shares. Market conditions or changes to ratings criteria could adversely impact the ratings of municipal bond insurers. If the credit rating of the insurer were downgraded or withdrawn by rating agencies, this could have an adverse effect upon the credit rating of the insured bond and, therefore, its market value, despite the quality of the underlying issuer.

**Risks of investing in municipal bonds of issuers within the state of California** — Because The Tax-Exempt Fund of California invests primarily in securities of issuers within the state of California, the fund is more susceptible to factors adversely affecting issuers of California securities than a comparable municipal bond mutual fund that does not concentrate its investments in a single state. For example, in the past, California voters have passed amendments to the state's constitution and other measures that limit the taxing and spending authority of California governmental entities, and future voter initiatives may adversely affect California municipal bonds.

**Risks of investing in municipal bonds of issuers within the state of New York** — Because American Funds Tax-Exempt Fund of New York invests primarily in securities of issuers within the state of New York, the fund is more susceptible to factors adversely affecting issuers of New York securities than a comparable municipal bond mutual fund that does not concentrate its investments in a single state. For example, such factors may include political policy changes, tax base erosion, state constitutional limits on tax increases, budget deficits and other financial or economic difficulties, and changes in the credit ratings assigned to New York's municipal issuers. New York's economy and finances may be especially vulnerable to changes in the performance of the financial services sector, which historically has been volatile.

American Funds Tax-Exempt Funds 357

**Management** — The investment adviser to the funds actively manages the funds' investments. Consequently, the funds are subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the funds to lose value or their investment results to lag relevant benchmarks or other funds with similar objectives.

**5. Certain investment techniques**

**Unfunded commitments** — American High-Income Municipal Bond Fund has participated in transactions that involve unfunded commitments, which may obligate the fund to purchase new or additional bonds if certain contingencies are met. As of January 31, 2023, the maximum exposure of unfunded bond commitments for American High-Income Municipal Bond Fund was $13,451,000, which would represent .13% of the net assets of the fund should such commitments become due.

**Futures contracts** — Each fund has entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio.

Upon entering into futures contracts, and to maintain the fund's open positions in futures contracts, each fund is required to deposit with a futures broker, known as a futures commission merchant ("FCM"), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.

On a daily basis, each fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in the statement of assets and liabilities. Futures contracts may involve a risk of loss in excess of the variation margin shown on each fund's statement of assets and liabilities. Each fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in each fund's statement of operations.

The following table presents the average month-end notional amount of futures contracts while held for each fund (dollars in thousands):

---

| | |
|:---|:---|
| | **Futures**<br> **contracts** |
| American Funds Short-Term Tax-Exempt Bond Fund | $250826 |
| Limited Term Tax-Exempt Bond Fund of America | 963665 |
| The Tax-Exempt Bond Fund of America | 1017473 |
| American High-Income Municipal Bond Fund | 266616 |
| The Tax-Exempt Fund of California | 306505 |
| American Funds Tax-Exempt Fund of New York | 3331 |

---

358 American Funds Tax-Exempt Funds

The following tables identify the location of and fair value amounts on each fund's statement of assets and liabilities and/or the effect on each fund's statement of operations resulting from the funds' use of futures contracts as of, or for the six months ended, January 31, 2023 (dollars in thousands):

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of <br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $2712 | Unrealized depreciation\* | $1519 |
|  |  | **Net realized loss** | **Net realized loss** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(247) | Net unrealized appreciation on futures contracts | $1724 |
| **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of<br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $10462 | Unrealized depreciation\* | $6585 |
|  |  | **Net realized loss** | **Net realized loss** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized loss on futures contracts | $(1374) | Net unrealized appreciation on futures contracts | $5840 |
| **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of <br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $255 | Unrealized depreciation\* | $2273 |
|  |  | **Net realized gain** | **Net realized gain** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $17282 | Net unrealized appreciation on futures contracts | $6714 |
| **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of <br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $460 | Unrealized depreciation\* | $932 |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 359

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain** | **Net realized gain** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $3182 | Net unrealized appreciation on futures contracts | $4679 |
| **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of <br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $1708 | Unrealized depreciation\* | $1490 |
|  |  | **Net realized gain** | **Net realized gain** | **Net unrealized appreciation** | **Net unrealized appreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $3947 | Net unrealized appreciation on futures contracts | $621 |
| **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** |
|  |  | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| **Contracts** | **Risk type** | **Location on statement of<br> assets and liabilities** | **Value** | **Location on statement of <br> assets and liabilities** | **Value** |
| Futures | Interest | Unrealized appreciation\* | $— | Unrealized depreciation\* | $52 |
|  |  | **Net realized gain** | **Net realized gain** | **Net unrealized depreciation** | **Net unrealized depreciation** |
| **Contracts** | **Risk type** | **Location on statement of<br> operations** | **Value** | **Location on statement of<br> operations** | **Value** |
| Futures | Interest | Net realized gain on futures contracts | $116 | Net unrealized depreciation on futures contracts | $(12) |

---

\* Includes cumulative appreciation/depreciation on futures contracts as reported in the applicable table following each fund's investment portfolio. Only current day's variation margin is reported within each fund's statement of assets and liabilities.

**Collateral** — Each fund either receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to its use of futures contracts. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by each fund, if any, is disclosed in each fund's investment portfolio, and cash collateral pledged by each fund, if any, is held in a segregated account with each fund's custodian, which is reflected as pledged cash collateral in each fund's statement of assets and liabilities.

**6. Taxation and distributions**

**Federal income taxation** — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net tax-exempt income and net capital gains each year. Generally, income earned by each fund is exempt from federal income taxes; however, each fund may earn taxable income from certain investments. The funds are not subject to income taxes to the extent such taxable income and net capital gains are distributed. To the extent the funds recognize taxable income, the funds may pay tax on such income in lieu of making distributions; amounts paid are included within federal, state and local taxes on the funds' statements of operations.

As of and during the period ended January 31, 2023, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the period, none of the funds incurred any significant interest or penalties.

360 American Funds Tax-Exempt Funds

Each fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; net capital losses; amortization of premiums and discounts and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the funds for financial reporting purposes. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

Additional tax basis disclosures for each fund are as follows (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **American<br> Funds<br> Short-Term<br> Tax-Exempt<br> Bond Fund** | **Limited Term<br> Tax-Exempt<br> Bond Fund<br> of America** | **The<br> Tax-Exempt<br> Bond Fund<br> of America** | **American<br> High-Income<br> Municipal<br> Bond Fund** | **The<br> Tax-Exempt<br> Fund of<br> California** | **American<br> Funds<br> Tax-Exempt<br> Fund of<br> New York** |
| **As of July 31, 2022** |  |  |  |  |  |  |
| Undistributed tax-exempt income | $204 | $742 | $4138 | $3820 | $723 | $79 |
| Post-October capital loss deferral<sup>1</sup> | (9951) | (39430) | (71536) | (42359) | (16780) |  |
| Capital loss carryforward<sup>2</sup> |  |  |  |  |  | (1648) |
| **As of January 31, 2023** |  |  |  |  |  |  |
| Gross unrealized appreciation on investments | 13529 | 50719 | 151505 | 116849 | 23597 | 1633 |
| Gross unrealized depreciation on investments | (42154) | (229195) | (1104206) | (756313) | (120004) | (11403) |
| Net unrealized depreciation on investments | (28625) | (178476) | (952701) | (639464) | (96407) | (9770) |
| Cost of investments | 2494523 | 7334761 | 23580517 | 11209218 | 2639112 | 250421 |

---

<sup>1</sup> This deferral is considered incurred in the subsequent year.

<sup>2</sup> Each fund's capital loss carryforwards will be used to offset any capital gains realized by the fund in the current year or in subsequent years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains.

The tax character of distributions paid or accrued to shareholders was as follows (dollars in thousands):

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| <br>**Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $11178 | $— | $— | $11178 | $6976 | $2341 | $384 | $9701 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 40 |  |  | 40 | 24 | 14 | 2 | 40 |
| Class F-2 | 2409 |  |  | 2409 | 1990 | 563 | 92 | 2645 |
| Class F-3 | 4233 |  |  | 4233 | 1354 | 241 | 40 | 1635 |
| Class R-6 | 2202 |  |  | 2202 | 1644 | 460 | 76 | 2180 |
| **Total** | $**20062** | $**—** | $**—** | $**20062** | $**11988** | $**3619** | $**594** | $**16201** |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 361

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** | **Limited Term Tax-Exempt Bond Fund of America** |
|  | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| **Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $29213 | $— | $— | $29213 | $35026 | $10831 | $10215 | $56072 |
| Class C | 73 |  |  | 73 | 25 | 49 | 46 | 120 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 358 |  |  | 358 | 562 | 194 | 183 | 939 |
| Class F-2 | 8657 |  |  | 8657 | 12327 | 3102 | 2925 | 18354 |
| Class F-3 | 13318 |  |  | 13318 | 12218 | 2478 | 2337 | 17033 |
| Class R-6 | 7503 |  |  | 7503 | 11379 | 2572 | 2425 | 16376 |
| **Total** | $**59122** | $**—** | $**—** | $**59122** | $**71537** | $**19226** | $**18131** | $**108894** |
| **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** | **The Tax-Exempt Bond Fund of America** |
|  | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| **Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $148834 | $— | $— | $148834 | $279326 | $14661 | $61162 | $355149 |
| Class C | 2318 |  |  | 2318 | 4178 | 355 | 1481 | 6014 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 2499 |  |  | 2499 | 4825 | 262 | 1092 | 6179 |
| Class F-2 | 63219 |  |  | 63219 | 117830 | 5720 | 23860 | 147410 |
| Class F-3 | 76242 |  |  | 76242 | 153951 | 7053 | 29421 | 190425 |
| Class R-6 | 9265 |  |  | 9265 | 15734 | 705 | 2942 | 19381 |
| **Total** | $**302377** | $**—** | $**—** | $**302377** | $**575844** | $**28756** | $**119958** | $**724558** |
| **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** | **American High-Income Municipal Bond Fund** |
|  | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| **Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $88083 | $— | $— | $88083 | $164223 | $19062 | $26175 | $209460 |
| Class C | 2053 |  |  | 2053 | 4067 | 646 | 887 | 5600 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 1864 |  |  | 1864 | 3073 | 367 | 504 | 3944 |
| Class F-2 | 32883 |  |  | 32883 | 55941 | 5978 | 8208 | 70127 |
| Class F-3 | 44600 |  |  | 44600 | 67647 | 6582 | 9037 | 83266 |
| Class R-6 | 21426 |  |  | 21426 | 36786 | 3726 | 5117 | 45629 |
| **Total** | $**190909** | $**—** | $**—** | $**190909** | $**331737** | $**36361** | $**49928** | $**418026** |

---

Refer to the end of the tables for footnote.

362 American Funds Tax-Exempt Funds

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** | **The Tax-Exempt Fund of California** |
|  | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| **Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $20088 | $— | $— | $20088 | $39644 | $1997 | $5247 | $46888 |
| Class C | 316 |  |  | 316 | 627 | 50 | 132 | 809 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 581 |  |  | 581 | 1141 | 60 | 158 | 1359 |
| Class F-2 | 6897 |  |  | 6897 | 13627 | 646 | 1698 | 15971 |
| Class F-3 | 6236 |  |  | 6236 | 10416 | 463 | 1217 | 12096 |
| **Total** | $**34118** | $**—** | $**—** | $**34118** | $**65455** | $**3216** | $**8452** | $**77123** |
| **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** | **American Funds Tax-Exempt Fund of New York** |
|  | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |
| **Share class** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** | **Tax-exempt<br> income** | **Ordinary<br> income** | **Long-term<br> capital gains** | **Total<br> distributions<br> paid or<br> accrued** |
| Class A | $2239 | $— | $— | $2239 | $4191 | $226 | $1341 | $5758 |
| Class C | 91 |  |  | 91 | 150 | 12 | 73 | 235 |
| Class T | —<sup>3</sup> |  |  | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> | —<sup>3</sup> |
| Class F-1 | 18 |  |  | 18 | 46 | 2 | 16 | 64 |
| Class F-2 | 376 |  |  | 376 | 689 | 35 | 208 | 932 |
| Class F-3 | 510 |  |  | 510 | 918 | 43 | 254 | 1215 |
| **Total** | $**3234** | $**—** | $**—** | $**3234** | $**5994** | $**318** | $**1892** | $**8204** |

---

<sup>3</sup> Amount less than one thousand.

**7. Fees and transactions with related parties**

CRMC, the funds' investment adviser, is the parent company of American Funds Distributors<sup>®</sup>, Inc. ("AFD"), the principal underwriter of the funds' shares, and American Funds Service Company<sup>®</sup> ("AFS"), the funds' transfer agent. CRMC, AFD and AFS are considered related parties to each fund.

**Investment advisory services** — Each fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on annual rates that generally decrease as net asset levels increase. The agreement for each fund, except American Funds Short-Term Tax-Exempt Bond Fund, also provides for monthly fees accrued daily based on a series of decreasing rates on each fund's monthly gross income.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Rates** | **Rates** | **Net asset level<br> (in billions)** | **Net asset level<br> (in billions)** | **Rates** | **Rates** | **Monthly gross income** | **Monthly gross income** | |
| <br>**Fund** | **Beginning<br> with** | **Ending<br> with** | **Up to** | **In excess<br>of** | **Beginning<br> with** | **Ending<br> with** | **Up to** | **In excess<br> of** | **Annualized<br> rates for the <br> six months ended**<br>**January 31,<br> 2023** |
| American Funds Short-Term Tax-Exempt Bond Fund | .204% | .175% | $15.0 | $15.0 | Not applicable | Not applicable | Not applicable | Not applicable | .204% |
| Limited Term Tax-Exempt Bond Fund of America | .143 | .120 | 15.0 | 15.0 | 3.00% | 2.50% | $3333333 | $3333333 | .200 |
| The Tax-Exempt Bond Fund of America | .300 | .105 | .06 | 28.0 | 3.00 | 2.00 | 3333333 | 8333333 | .198 |
| American High-Income Municipal Bond Fund | .151 | .130 | 15.0 | 15.0 | 3.00 | 2.50 | 3333333 | 3333333 | .267 |
| The Tax-Exempt Fund of California | .157 | .130 | 15.0 | 15.0 | 3.00 | 2.50 | 3333333 | 3333333 | .244 |
| American Funds Tax-Exempt Fund of New York | .157 | .130 | 15.0 | 15.0 | 3.00 | 2.50 | 3333333 | 3333333 | .254 |

---

American Funds Tax-Exempt Funds 363

**Investment advisory services waiver** — During the six months ended January 31, 2023, CRMC waived investment advisory services fees of $19,000 for American Funds Tax-Exempt Fund of New York. CRMC does not intend to recoup this waiver. As a result, the fees shown on the fund's statement of operations of $310,000 were reduced to $291,000, which were equivalent to an annualized rate of 0.254% and 0.238% of daily net assets, respectively.

**Class-specific fees and expenses** — Expenses that are specific to individual share classes are accrued directly to the respective share class of each fund. The principal class-specific fees and expenses are described below:

**Distribution services** — Each fund has plans of distribution for all share classes, except Class F-2, F-3 and R-6 shares, if applicable. Under the plans, each fund's board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments based on an annualized percentage of average daily net assets. In some cases, the boards of trustees have limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use the allotted percentage of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **American Funds Short-Term<br> Tax-Exempt Bond Fund** | **American Funds Short-Term<br> Tax-Exempt Bond Fund** | **Limited Term Tax-Exempt<br> Bond Fund of America** | **Limited Term Tax-Exempt<br> Bond Fund of America** | **The Tax-Exempt Bond Fund<br> of America** | **The Tax-Exempt Bond Fund<br> of America** |
| <br>**Share class** | **Currently<br> approved limits** | **Plan limits** | **Currently<br> approved limits** | **Plan limits** | **Currently<br> approved limits** | **Plan limits** |
| Class A | 0.15% | 0.15% | 0.30% | 0.30% | 0.25% | 0.25% |
| Class C | Not applicable | Not applicable | 1.00 | 1.00 | 1.00 | 1.00 |
| Classes T and F-1 | 0.25 | 0.50 | 0.25 | 0.50 | 0.25 | 0.50 |
|  | **American High-Income<br> Municipal Bond Fund** | **American High-Income<br> Municipal Bond Fund** | **The Tax-Exempt Fund<br> of California** | **The Tax-Exempt Fund<br> of California** | **American Funds Tax-Exempt<br> Fund of New York** | **American Funds Tax-Exempt<br> Fund of New York** |
| **Share class** | **Currently<br> approved limits** | **Plan limits** | **Currently<br> approved limits** | **Plan limits** | **Currently<br> approved limits** | **Plan limits** |
| Class A | 0.30% | 0.30% | 0.25% | 0.25% | 0.25% | 0.30% |
| Class C | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Classes T and F-1 | 0.25 | 0.50 | 0.25 | 0.50 | 0.25 | 0.50 |

---

For Class A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. This share class of each fund reimburses AFD for amounts billed within the prior 15 months but only to the extent that the overall annual expense limit is not exceeded. As of January 31, 2023, unreimbursed expenses subject to reimbursement for Class A shares of each fund were as follows (dollars in thousands):

---

| | |
|:---|:---|
| **Fund** | **Class A** |
| American Funds Short-Term Tax-Exempt Bond Fund | $1633 |
| Limited-Term Tax-Exempt Bond Fund of America | 2900 |
| The Tax-Exempt Bond Fund of America | 7840 |
| American High-Income Municipal Bond Fund |  |
| The Tax-Exempt Fund of California | 1082 |
| American Funds Tax-Exempt Fund of New York | 129 |

---

**Transfer agent services** — Each fund has a shareholder services agreement with AFS under which each fund compensates AFS for providing transfer agent services to each of the funds' share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, each fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of its respective fund shareholders.

364 American Funds Tax-Exempt Funds

**Administrative services** — Each fund has an administrative services agreement with CRMC under which each fund compensates CRMC for providing administrative services to each of the funds' share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in depth information on each fund and market developments that impact each fund's investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to each fund's shareholders. The agreement provides each fund the ability to charge an administrative services fee at the annual rate of 0.05% of the average daily net assets attributable to each share class of each fund. Currently the funds pay an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of each fund for CRMC's provision of administrative services.

For the six months ended January 31, 2023, class-specific expenses under the agreements for each fund were as follows (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** | **American Funds Short-Term Tax-Exempt Bond Fund** |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $1030 | $254 | $206 |
| Class T |  | — \* | — \* |
| Class F-1 | 7 | 3 | 1 |
| Class F-2 | Not applicable | 111 | 42 |
| Class F-3 | Not applicable | 2 | 69 |
| Class R-6 | Not applicable | 1 | 37 |
| **Total class-specific expenses** | **$1037** | **$371** | **$355** |
| **Limited Term Tax-Exempt Bond Fund of America** |  |  |  |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $5759 | $760 | $576 |
| Class C | 88 | 3 | 3 |
| Class T |  | — \* | — \* |
| Class F-1 | 61 | 30 | 7 |
| Class F-2 | Not applicable | 515 | 148 |
| Class F-3 | Not applicable | 8 | 213 |
| Class R-6 | Not applicable | 4 | 121 |
| **Total class-specific expenses** | **$5908** | **$1320** | **$1068** |
| **The Tax-Exempt Bond Fund of America** |  |  |  |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $14826 | $2210 | $1779 |
| Class C | 1318 | 49 | 40 |
| Class T |  | — \* | — \* |
| Class F-1 | 255 | 122 | 31 |
| Class F-2 | Not applicable | 2599 | 706 |
| Class F-3 | Not applicable | 42 | 818 |
| Class R-6 | Not applicable | 5 | 99 |
| **Total class-specific expenses** | **$16399** | **$5027** | **$3473** |
| **American High-Income Municipal Bond Fund** |  |  |  |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $7349 | $1311 | $746 |
| Class C | 724 | 38 | 22 |
| Class T |  | — \* | — \* |
| Class F-1 | 130 | 62 | 16 |
| Class F-2 | Not applicable | 938 | 260 |
| Class F-3 | Not applicable | 13 | 344 |
| Class R-6 | Not applicable | 7 | 165 |
| **Total class-specific expenses** | **$8203** | **$2369** | **$1553** |
| **The Tax-Exempt Fund of California** |  |  |  |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $1958 | $185 | $235 |
| Class C | 174 | 4 | 5 |
| Class T |  | — \* | — \* |
| Class F-1 | 59 | 27 | 7 |
| Class F-2 | Not applicable | 227 | 75 |
| Class F-3 | Not applicable | 3 | 66 |
| **Total class-specific expenses** | **$2191** | **$446** | **$388** |
| **American Funds Tax-Exempt Fund of New York** |  |  |  |
| **Share class** | **Distribution<br> services** | **Transfer agent<br> services** | **Administrative<br> services** |
| Class A | $213 | $31 | $26 |
| Class C | 49 | 2 | 2 |
| Class T |  | — \* | — \* |
| Class F-1 | 2 | 1 | — \* |
| Class F-2 | Not applicable | 15 | 4 |
| Class F-3 | Not applicable | — \* | 5 |
| **Total class-specific expenses** | **$264** | **$49** | **$37** |

---

\* Amount less than one thousand.

**Miscellaneous fee reimbursements** — CRMC reimbursed a portion of miscellaneous fees and expenses of American Funds Short-Term Tax-Exempt Bond Fund and American Funds Tax-Exempt Fund of New York. Miscellaneous fees and expenses exclude investment advisory services fees and distribution services fees. For the six months ended January 31, 2023, total fees and expenses reimbursed by CRMC were $350,000 and $104,000 for American Funds Short-Term Tax-Exempt Bond Fund and American Funds Tax-Exempt Fund of New York, respectively. CRMC may recoup all or a portion of these reimbursements during the current fiscal year. These reimbursements may be adjusted or discontinued by CRMC, subject to any restrictions in each fund's prospectus. Fees and expenses in each fund's statement of operations are presented gross of any reimbursements from CRMC.

American Funds Tax-Exempt Funds 365

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of each fund, are treated as if invested in shares of the funds or other American Funds. These amounts represent general, unsecured liabilities of each fund and vary according to the total returns of the selected funds. Trustees' compensation in the funds' statements of operations reflects the current fees (either paid in cash or deferred) and a net increase in the value of the following deferred amounts (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Current fees** | **Increase in value of<br> deferred amounts** | **Total trustees'<br> compensation** |
| American Funds Short-Term Tax-Exempt Bond Fund | $4 | $1 | $5 |
| Limited Term Tax-Exempt Bond Fund of America | 19 | 3 | 22 |
| The Tax-Exempt Bond Fund of America | 43 | 21 | 64 |
| American High-Income Municipal Bond Fund | 17 | 3 | 20 |
| The Tax-Exempt Fund of California | 4 | 3 | 7 |
| American Funds Tax-Exempt Fund of New York | 1 | — \* | 1 |

---

\* Amount less than one thousand.

**Affiliated officers and trustees** — Officers and certain trustees of the funds are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the funds.

**Security transactions with related funds** — Each fund may purchase securities from, or sell securities to, other CRMC-managed funds (or funds managed by certain affiliates of CRMC) under procedures adopted by each fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act.

The following table presents purchase and sale transactions between each fund and related funds, and the net realized loss from such sales, if any, during the six months ended January 31, 2023 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | **Net<br> realized<br> loss** |
| American Funds Short-Term Tax-Exempt Bond Fund | $78979 | $5 | $— \* |
| Limited Term Tax-Exempt Bond Fund of America | 49287 | 19060 | (742) |
| The Tax-Exempt Bond Fund of America | 34948 | 7211 | (15) |
| American High-Income Municipal Bond Fund |  | 401 | (47) |
| The Tax-Exempt Fund of California | 692 | 82268 | (3672) |

---

\* Amount less than one thousand.

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the funds, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. None of the funds lent or borrowed cash during the six months ended January 31, 2023.

**8. Committed line of credit**

American High-Income Municipal Bond Fund participates with other funds managed by CRMC (or funds managed by certain affiliates of CRMC) in a $1.5 billion credit facility (the "line of credit") to be utilized for temporary purposes to support shareholder redemptions. The fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which are reflected in other expenses in the fund's statement of operations. The fund did not borrow on this line of credit at any time during the six months ended January 31, 2023.

**9. Indemnifications**

Each fund's organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, each fund may also enter into contracts that provide general indemnifications. Each fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against the fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to each fund's board members and officers.

366 American Funds Tax-Exempt Funds

**10. Fund mergers**

On September 23, 2022, American Funds Short-Term Tax-Exempt Bond Fund (the "acquiring fund") acquired the net assets of Capital Group Short-Term Municipal Fund (the "acquired fund") pursuant to an Agreement and Plan of Reorganization and Liquidation approved by the fund's board of trustees on March 9, 2022. The purpose of the transaction was to combine two funds with substantially similar investment objectives. The acquisition was accomplished by a tax-free exchange of shares of the acquired fund for Class F-3 shares of the acquiring fund at the close of business on September 23, 2022. Shares issued by the acquiring fund are disclosed in the capital share transactions table on page 369. Further information about the merger of the funds is as follows (dollars and shares in thousands except per-share amounts):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Status** | **Shares**<br> **outstanding** | **Net assets** | **Net asset value**<br> **per share** |
| American Funds Short-Term |  |  |  |  |
| Tax-Exempt Bond Fund, Class F-3 | Acquiring fund | 40351 | $392655 | $9.73 |
| Capital Group Short-Term Municipal Fund | Acquired fund | 6869 \* | 66859 | 9.73 |
| American Funds Short-Term Tax-Exempt Bond Fund, Class F-3 | Post merger | 47220 | 459514 | 9.73 |

---

\* All shares were exchanged at a ratio of 1 to 1.

The cost, fair value and net unrealized depreciation of the investments of Capital Group Short-Term Municipal Fund as of the date of the close of business on September 23, 2022, were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Investment securities, at value | $58147 |
| Investment securities, at cost | 60673 |
| Net unrealized depreciation | (2526) |

---

The acquired fund's investment securities were excluded from the acquiring fund's portfolio turnover rate calculation. Had the acquisition been completed on August 1, 2022, the beginning of the annual reporting period of the acquiring fund, the pro forma results of operations for the six months ended January 31, 2023, would have been as follows (dollars in thousands):

---

| | |
|:---|:---|
| **Pro forma components of net assets on January 31, 2023** | |
| Net investment income | $21218 |
| Net realized loss | (3772) |
| Net unrealized appreciation | 2402 |
| Net increase in net assets resulting from operations | $19848 |

---

Since the combined investment portfolios have been managed as a single integrated portfolio since the reorganization was completed, it is not practicable to separate the income, expenses and changes in net assets of the acquired fund that have been included in the acquiring fund's statement of operations since September 23, 2022.

American Funds Tax-Exempt Funds 367

In addition, on September 23, 2022, Limited Term Tax-Exempt Bond Fund of America (the "acquiring fund") acquired the net assets of Capital Group Core Municipal Fund (the "acquired fund") pursuant to an Agreement and Plan of Reorganization and Liquidation approved by the fund's board of trustees on March 9, 2022. The purpose of the transaction was to combine two funds with substantially similar investment objectives. The acquisition was accomplished by a tax-free exchange of shares of the acquired fund for Class F-3 shares of the acquiring fund at the close of business on September 23, 2022. Shares issued by the acquiring fund are disclosed in the capital share transactions table on page 369. Further information about the merger of the funds is as follows (dollars and shares in thousands except per-share amounts):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Status** | **Shares**<br> **outstanding** | **Net assets** | **Net asset value**<br> **per share** |
| Limited Term Tax-Exempt Bond Fund of America, Class F-3 | Acquiring fund | 80082 | $1185993 | $14.81 |
| Capital Group Core Municipal Fund | Acquired fund | 38975 \* | 382221 | 9.81 |
| Limited Term Tax-Exempt Bond Fund of America, Class F-3 | Post merger | 105891 | 1568214 | 14.81 |

---

\* All shares were exchanged at a ratio of 1.51 to 1.

The cost, fair value and net unrealized depreciation of the investments of Capital Group Core Municipal Fund as of the date of the close of business on September 23, 2022, were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Investment securities, at value | $365563 |
| Investment securities, at cost | 391954 |
| Net unrealized depreciation | (26391) |

---

The acquired fund's investment securities were excluded from the acquiring fund's portfolio turnover rate calculation. Had the acquisition been completed on August 1, 2022, the beginning of the annual reporting period of the acquiring fund, the pro forma results of operations for the six months ended January 31, 2023, would have been as follows (dollars in thousands):

---

| | |
|:---|:---|
| **Pro forma components of net assets on January 31, 2023** | |
| Net investment income | $62423 |
| Net realized loss | (32227) |
| Net unrealized appreciation | 31102 |
| Net increase in net assets resulting from operations | $61298 |

---

Since the combined investment portfolios have been managed as a single integrated portfolio since the reorganization was completed, it is not practicable to separate the income, expenses and changes in net assets of the acquired fund that have been included in the acquiring fund's statement of operations since September 23, 2022.

368 American Funds Tax-Exempt Funds

**11. Capital share transactions**

Capital share transactions in the funds were as follows (dollars and shares in thousands):

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Issued in connection<br> with the merger of<br> Capital Group<br> Short-Term<br> Municipal Fund** | **Issued in connection<br> with the merger of<br> Capital Group<br> Short-Term<br> Municipal Fund** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase<br> (decrease)** | **Net increase<br> (decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | | | |
| Class A | $629043 | 64202 | $— |  | $11032 | 1124 | $(537598) | (54804) | $102477 | 10522 |
| Class T |  |  |  |  |  |  |  |  |  |  |
| Class F-1 | 2473 | 252 |  |  | 39 | 4 | (2293) | (235) | 219 | 21 |
| Class F-2 | 81608 | 8325 |  |  | 2307 | 235 | (113819) | (11619) | (29904) | (3059) |
| Class F-3 | 275359 | 27788 | 66859 | 6869 | 4232 | 431 | (152251) | (15507) | 194199 | 19581 |
| Class R-6 | 11649 | 1189 |  |  | 2199 | 224 | (35733) | (3643) | (21885) | (2230) |
| **Total net increase (decrease)** | $**1000132** | **101756** | $**66859** | **6869** | $**19809** | **2018** | $**(841694)** | **(85808)** | $**245106** | **24835** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |  |  |
| Class A | $767090 | 76626 |  |  | $9575 | 949 | $(576880) | (57506) | $199785 | 20069 |
| Class T |  |  |  |  |  |  |  |  |  |  |
| Class F-1 | 2129 | 214 |  |  | 39 | 4 | (4828) | (478) | (2660) | (260) |
| Class F-2 | 219924 | 21886 |  |  | 2538 | 252 | (208572) | (20760) | 13890 | 1378 |
| Class F-3 | 327750 | 32969 |  |  | 1628 | 162 | (97658) | (9758) | 231720 | 23373 |
| Class R-6 | 85661 | 8583 |  |  | 2182 | 216 | (55922) | (5577) | 31921 | 3222 |
| **Total net increase (decrease)** | $**1402554** | **140278** |  |  | $**15962** | **1583** | $**(943860)** | **(94079)** | $**474656** | **47782** |

---

**Limited Term Tax-Exempt Bond Fund of America**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Issued in connection<br> with the merger of<br> Capital Group<br> Core Municipal Fund** | **Issued in connection<br> with the merger of<br> Capital Group<br> Core Municipal Fund** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | | | |
| Class A | $1065759 | 71140 | $— |  | $28392 | 1895 | $(1271462) | (84790) | $(177311) | (11755) |
| Class C | 6425 | 429 |  |  | 72 | 5 | (5217) | (348) | 1280 | 86 |
| Class T |  |  |  |  |  |  |  |  |  |  |
| Class F-1 | 4495 | 300 |  |  | 351 | 23 | (14426) | (965) | (9580) | (642) |
| Class F-2 | 365850 | 24466 |  |  | 7974 | 532 | (442219) | (29493) | (68395) | (4495) |
| Class F-3 | 574638 | 36409 | 382221 | 25809 | 13232 | 883 | (460850) | (30827) | 509241 | 32274 |
| Class R-6 | 24483 | 1631 |  |  | 7505 | 501 | (79347) | (5309) | (47359) | (3177) |
| **Total net increase (decrease)** | $**2041650** | **134375** | $**382221** | **25809** | $**57526** | **3839** | $**(2273521)** | **(151732)** | $**207876** | **12291** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |  |  |
| Class A | $1206467 | 77660 |  |  | $54734 | 3478 | $(1324752) | (85548) | $(63551) | (4410) |
| Class C | 8655 | 554 |  |  | 120 | 8 | (9223) | (593) | (448) | (31) |
| Class T |  |  |  |  |  |  |  |  |  |  |
| Class F-1 | 16243 | 1023 |  |  | 929 | 59 | (44994) | (2871) | (27822) | (1789) |
| Class F-2 | 670265 | 43030 |  |  | 17279 | 1098 | (779184) | (50356) | (91640) | (6228) |
| Class F-3 | 924201 | 59778 |  |  | 16851 | 1073 | (872743) | (56130) | 68309 | 4721 |
| Class R-6 | 121508 | 7624 |  |  | 16372 | 1041 | (199882) | (13014) | (62002) | (4349) |
| **Total net increase (decrease)** | $**2947339** | **189669** |  |  | $**106285** | **6757** | $**(3230778)** | **(208512)** | $**(177154)** | **(12086)** |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 369

**The Tax-Exempt Bond Fund of America**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | |
| Class A | $1816175 | 150754 | $142973 | 11942 | $(2734394) | (228042) | $(775246) | (65346) |
| Class C | 17382 | 1443 | 2264 | 189 | (53619) | (4462) | (33973) | (2830) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 34875 | 2900 | 2413 | 202 | (66669) | (5559) | (29381) | (2457) |
| Class F-2 | 1955805 | 162716 | 59554 | 4975 | (2304556) | (192991) | (289197) | (25300) |
| Class F-3 | 1620303 | 134947 | 74438 | 6222 | (2768621) | (232436) | (1073880) | (91267) |
| Class R-6 | 1646 | 134 | 9265 | 774 | (26595) | (2250) | (15684) | (1342) |
| **Total net increase (decrease)** | $**5446186** | **452894** | $**290907** | **24304** | $**(7954454)** | **(665740)** | $**(2217361)** | **(188542)** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |
| Class A | $2235417 | 170898 | $342670 | 26109 | $(3039685) | (238475) | $(461598) | (41468) |
| Class C | 43791 | 3322 | 5891 | 448 | (95046) | (7357) | (45364) | (3587) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 62341 | 4798 | 6002 | 458 | (84900) | (6603) | (16557) | (1347) |
| Class F-2 | 3003560 | 234832 | 140378 | 10699 | (3001261) | (237375) | 142677 | 8156 |
| Class F-3 | 2840973 | 220898 | 186547 | 14234 | (2795902) | (221548) | 231618 | 13584 |
| Class R-6 | 111672 | 8271 | 19380 | 1481 | (5791) | (479) | 125261 | 9273 |
| **Total net increase (decrease)** | $**8297754** | **643019** | $**700868** | **53429** | $**(9022585)** | **(711837)** | $**(23963)** | **(15389)** |

---

**American High-Income Municipal Bond Fund**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | |
| Class A | $764028 | 52520 | $84498 | 5862 | $(1147017) | (79594) | $(298491) | (21212) |
| Class C | 10201 | 700 | 1999 | 139 | (30764) | (2125) | (18564) | (1286) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 40296 | 2784 | 1843 | 128 | (25617) | (1783) | 16522 | 1129 |
| Class F-2 | 800046 | 55191 | 29952 | 2077 | (710022) | (49333) | 119976 | 7935 |
| Class F-3 | 974496 | 67366 | 43533 | 3018 | (771090) | (53578) | 246939 | 16806 |
| Class R-6 | 11490 | 770 | 21429 | 1487 | (26346) | (1835) | 6573 | 422 |
| **Total net increase (decrease)** | $**2600557** | **179331** | $**183254** | **12711** | $**(2710856)** | **(188248)** | $**72955** | **3794** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |
| Class A | $1129585 | 69635 | $202123 | 12431 | $(1158093) | (73620) | $173615 | 8446 |
| Class C | 30286 | 1830 | 5453 | 334 | (60388) | (3770) | (24649) | (1606) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 34391 | 2138 | 3893 | 239 | (50133) | (3090) | (11849) | (713) |
| Class F-2 | 1051452 | 66319 | 64560 | 3975 | (887365) | (56756) | 228647 | 13538 |
| Class F-3 | 1325890 | 83624 | 80615 | 4984 | (769137) | (49357) | 637368 | 39251 |
| Class R-6 | 203684 | 12185 | 45623 | 2815 | (28595) | (1894) | 220712 | 13106 |
| **Total net increase (decrease)** | $**3775288** | **235731** | $**402267** | **24778** | $**(2953711)** | **(188487)** | $**1223844** | **72022** |

---

Refer to the end of the tables for footnote.

370 American Funds Tax-Exempt Funds

**The Tax-Exempt Fund of California**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | |
| Class A | $215863 | 13323 | $18414 | 1145 | $(398541) | (24731) | $(164264) | (10263) |
| Class C | 1886 | 116 | 310 | 19 | (6783) | (420) | (4587) | (285) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 8035 | 497 | 563 | 35 | (11198) | (696) | (2600) | (164) |
| Class F-2 | 219158 | 13767 | 5961 | 370 | (238167) | (14881) | (13048) | (744) |
| Class F-3 | 227400 | 14032 | 6204 | 386 | (174613) | (10874) | 58991 | 3544 |
| **Total net increase (decrease)** | $**672342** | **41735** | $**31452** | **1955** | $**(829302)** | **(51602)** | $**(125508)** | **(7912)** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |
| Class A | $261751 | 14999 | $43315 | 2458 | $(460497) | (26806) | $(155431) | (9349) |
| Class C | 4236 | 237 | 795 | 45 | (14872) | (854) | (9841) | (572) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 8478 | 494 | 1325 | 75 | (17750) | (1031) | (7947) | (462) |
| Class F-2 | 307998 | 17863 | 14031 | 794 | (363387) | (21281) | (41358) | (2624) |
| Class F-3 | 269151 | 15897 | 12041 | 685 | (245150) | (14472) | 36042 | 2110 |
| **Total net increase (decrease)** | $**851614** | **49490** | $**71507** | **4057** | $**(1101656)** | **(64444)** | $**(178535)** | **(10897)** |

---

**American Funds Tax-Exempt Fund of New York**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of<br> distributions** | **Reinvestments of<br> distributions** | **Repurchases\*** | **Repurchases\*** | **Net (decrease)<br> increase** | **Net (decrease)<br> increase** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | **Six months ended January 31, 2023** | | | | | |
| Class A | $25468 | 2605 | $2172 | 223 | $(37583) | (3855) | $(9943) | (1027) |
| Class C | 721 | 73 | 85 | 9 | (1146) | (116) | (340) | (34) |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 1397 | 137 | 17 | 2 | (1506) | (148) | (92) | (9) |
| Class F-2 | 10829 | 1106 | 375 | 38 | (11559) | (1187) | (355) | (43) |
| Class F-3 | 8060 | 818 | 510 | 52 | (11210) | (1143) | (2640) | (273) |
| **Total net increase (decrease)** | $**46475** | **4739** | $**3159** | **324** | $**(63004)** | **(6449)** | $**(13370)** | **(1386)** |
| **Year ended July 31, 2022** | **Year ended July 31, 2022** | **Year ended July 31, 2022** |  |  |  |  |  |  |
| Class A | $32675 | 3034 | $5540 | 511 | $(40694) | (3868) | $(2479) | (323) |
| Class C | 3218 | 293 | 222 | 20 | (3135) | (287) | 305 | 26 |
| Class T |  |  |  |  |  |  |  |  |
| Class F-1 | 2613 | 243 | 53 | 5 | (3539) | (334) | (873) | (86) |
| Class F-2 | 13617 | 1294 | 932 | 86 | (14790) | (1431) | (241) | (51) |
| Class F-3 | 21030 | 1997 | 1214 | 112 | (16987) | (1618) | 5257 | 491 |
| **Total net increase (decrease)** | $**73153** | **6861** | $**7961** | **734** | $**(79145)** | **(7538)** | $**1969** | **57** |

---

\* Includes exchanges between share classes of the fund.

American Funds Tax-Exempt Funds 371

**12. Investment transactions**

Each fund engaged in purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, during the six months ended January 31, 2023, as follows (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** |
| American Funds Short-Term Tax-Exempt Bond Fund | $629930 \* | $436674 |
| Limited Term Tax-Exempt Bond Fund of America | 1002005 \* | 1095108 |
| The Tax-Exempt Bond Fund of America | 1508456 | 3425108 |
| American High-Income Municipal Bond Fund | 1388647 | 1280553 |
| The Tax-Exempt Fund of California | 243376 | 343984 |
| American Funds Tax-Exempt Fund of New York | 21456 | 34972 |

---

\* The purchases do not include the investment securities acquired from the mergers of American Funds Short-Term Tax-Exempt Bond Fund with Capital Group Short-Term Municipal Fund and Limited Term Tax-Exempt Bond Fund of America with Capital Group Core Municipal Fund that occurred on September 23, 2022.

**13. Ownership concentration**

At January 31, 2023, American Funds Tax-Aware Conservative Growth and Income Portfolio held 11% of the outstanding shares of American High-Income Municipal Bond Fund. CRMC is the investment adviser to both funds.

372 American Funds Tax-Exempt Funds

Financial highlights

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net (losses) <br> gains on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, end <br> of year** |<br>**Total return<sup>2,3</sup>** |<br>**Net assets, <br> end of <br> year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average net <br> assets before <br> reimburse- <br> ments** |<br>**Ratio of <br> expenses to <br> average net <br> assets after <br> reimburse- <br> ments<sup>3</sup>** |<br>**Ratio of <br> net income <br> to average <br> net assets<sup>3</sup>** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | $9.95 | $.08 | $(.01) | $.07 | $(.08) | $— | $(.08) | $9.94 | .72%<sup>6</sup> | $1420 | .46%<sup>7</sup> | .42%<sup>7</sup> | 1.71%<sup>7</sup> |
| 7/31/2022 | 10.33 | .06 | (.36) | (.30) | (.06) | (.02) | (.08) | 9.95 | (2.91) | 1318 | .53 | .53 | .58 |
| 7/31/2021 | 10.37 | .07 | (.01) | .06 | (.07) | (.03) | (.10) | 10.33 | .56 | 1161 | .57 | .57 | .68 |
| 7/31/2020 | 10.19 | .13 | .18 | .31 | (.13) |  | (.13) | 10.37 | 3.07 | 938 | .58 | .58 | 1.27 |
| 7/31/2019 | 10.04 | .16 | .15 | .31 | (.16) |  | (.16) | 10.19 | 3.09 | 767 | .59 | .59 | 1.56 |
| 7/31/2018 | 10.15 | .13 | (.11) | .02 | (.13) |  | (.13) | 10.04 | .24 | 752 | .58 | .58 | 1.33 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 9.95 | .09 | (.01) | .08 | (.09) |  | (.09) | 9.94 | .80<sup>6,8</sup> | —<sup>9</sup> | .28<sup>7,8</sup> | .25<sup>7,8</sup> | 1.88<sup>7,8</sup> |
| 7/31/2022 | 10.33 | .07 | (.36) | (.29) | (.07) | (.02) | (.09) | 9.95 | (2.75)<sup>8</sup> | —<sup>9</sup> | .38<sup>8</sup> | .38<sup>8</sup> | .72<sup>8</sup> |
| 7/31/2021 | 10.37 | .09 | (.01) | .08 | (.09) | (.03) | (.12) | 10.33 | .72<sup>8</sup> | —<sup>9</sup> | .42<sup>8</sup> | .42<sup>8</sup> | .84<sup>8</sup> |
| 7/31/2020 | 10.19 | .15 | .18 | .33 | (.15) |  | (.15) | 10.37 | 3.22<sup>8</sup> | —<sup>9</sup> | .43<sup>8</sup> | .42<sup>8</sup> | 1.43<sup>8</sup> |
| 7/31/2019 | 10.04 | .17 | .15 | .32 | (.17) |  | (.17) | 10.19 | 3.20<sup>8</sup> | —<sup>9</sup> | .47<sup>8</sup> | .47<sup>8</sup> | 1.67<sup>8</sup> |
| 7/31/2018 | 10.15 | .15 | (.11) | .04 | (.15) |  | (.15) | 10.04 | .36<sup>8</sup> | —<sup>9</sup> | .47<sup>8</sup> | .47<sup>8</sup> | 1.44<sup>8</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 9.95 | .07 | (.01) | .06 | (.07) |  | (.07) | 9.94 | .63<sup>6</sup> | 6 | .64<sup>7</sup> | .60<sup>7</sup> | 1.53<sup>7</sup> |
| 7/31/2022 | 10.33 | .04 | (.36) | (.32) | (.04) | (.02) | (.06) | 9.95 | (3.09) | 6 | .73 | .73 | .36 |
| 7/31/2021 | 10.37 | .05 | (.01) | .04 | (.05) | (.03) | (.08) | 10.33 | .37 | 9 | .76 | .76 | .51 |
| 7/31/2020 | 10.19 | .11 | .18 | .29 | (.11) |  | (.11) | 10.37 | 2.87 | 9 | .77 | .76 | 1.08 |
| 7/31/2019 | 10.04 | .13 | .15 | .28 | (.13) |  | (.13) | 10.19 | 2.85 | 7 | .81 | .81 | 1.34 |
| 7/31/2018 | 10.15 | .11 | (.11) | —<sup>10</sup> | (.11) |  | (.11) | 10.04 | .02 | 7 | .80 | .80 | 1.10 |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 9.95 | .09 | (.01) | .08 | (.09) |  | (.09) | 9.94 | .77<sup>6</sup> | 262 | .35<sup>7</sup> | .32<sup>7</sup> | 1.80<sup>7</sup> |
| 7/31/2022 | 10.33 | .07 | (.36) | (.29) | (.07) | (.02) | (.09) | 9.95 | (2.79) | 293 | .42 | .42 | .68 |
| 7/31/2021 | 10.37 | .08 | (.01) | .07 | (.08) | (.03) | (.11) | 10.33 | .68 | 290 | .45 | .45 | .80 |
| 7/31/2020 | 10.19 | .14 | .18 | .32 | (.14) |  | (.14) | 10.37 | 3.19 | 218 | .46 | .45 | 1.40 |
| 7/31/2019 | 10.04 | .17 | .15 | .32 | (.17) |  | (.17) | 10.19 | 3.17 | 182 | .49 | .49 | 1.67 |
| 7/31/2018 | 10.15 | .14 | (.11) | .03 | (.14) |  | (.14) | 10.04 | .28 | 52 | .54 | .54 | 1.37 |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 373

Financial highlights (continued)

**American Funds Short-Term Tax-Exempt Bond Fund** (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net (losses) <br> gains on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, end <br> of year** |<br>**Total return<sup>2,3</sup>** |<br>**Net assets, <br> end of <br> year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average net <br> assets before <br> reimburse- <br> ments** |<br>**Ratio of <br> expenses to <br> average net <br> assets after <br> reimburse- <br> ments<sup>3</sup>** |<br>**Ratio of <br> net income <br> to average <br> net assets<sup>3</sup>** |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | $9.95 | $.09 | $(.01) | $.08 | $(.09) | $— | $(.09) | $9.94 | .81%<sup>6</sup> | $530 | .27%<sup>7</sup> | .24%<sup>7</sup> | 1.91%<sup>7</sup> |
| 7/31/2022 | 10.33 | .08 | (.36) | (.28) | (.08) | (.02) | (.10) | 9.95 | (2.72) | 335 | .33 | .33 | .85 |
| 7/31/2021 | 10.37 | .09 | (.01) | .08 | (.09) | (.03) | (.12) | 10.33 | .75 | 107 | .39 | .38 | .86 |
| 7/31/2020 | 10.19 | .15 | .18 | .33 | (.15) |  | (.15) | 10.37 | 3.25 | 74 | .40 | .39 | 1.44 |
| 7/31/2019 | 10.04 | .17 | .15 | .32 | (.17) |  | (.17) | 10.19 | 3.23 | 52 | .44 | .44 | 1.71 |
| 7/31/2018 | 10.15 | .15 | (.11) | .04 | (.15) |  | (.15) | 10.04 | .38 | 45 | .44 | .44 | 1.45 |
| **Class R-6:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 9.95 | .09 | (.01) | .08 | (.09) |  | (.09) | 9.94 | .81<sup>6</sup> | 231 | .27<sup>7</sup> | .24<sup>7</sup> | 1.88<sup>7</sup> |
| 7/31/2022 | 10.33 | .08 | (.36) | (.28) | (.08) | (.02) | (.10) | 9.95 | (2.72) | 253 | .35 | .35 | .75 |
| 7/31/2021 | 10.37 | .09 | (.01) | .08 | (.09) | (.03) | (.12) | 10.33 | .75 | 229 | .39 | .38 | .86 |
| 7/31/2020 | 10.19 | .15 | .18 | .33 | (.15) |  | (.15) | 10.37 | 3.26 | 162 | .39 | .39 | 1.46 |
| 7/31/2019 | 10.04 | .17 | .15 | .32 | (.17) |  | (.17) | 10.19 | 3.24 | 132 | .43 | .43 | 1.71 |
| 7/31/2018 | 10.15 | .15 | (.11) | .04 | (.15) |  | (.15) | 10.04 | .38 | 122 | .44 | .44 | 1.48 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months<br> ended<br> January 31,**<br>**2023<sup>456</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 23%<sup>11</sup> | 53% | 49% | 65% | 50% | 34% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> This column reflects the impact, if any, of certain reimbursements from CRMC. During some of the years shown, CRMC reimbursed a portion of miscellaneous fees and expenses.

<sup>4</sup> Based on operations for a period that is less than a full year.

<sup>5</sup> Unaudited.

<sup>6</sup> Not annualized.

<sup>7</sup> Annualized.

<sup>8</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>9</sup> Amount less than $1 million.

<sup>10</sup> Amount less than $.01.

<sup>11</sup> The portfolio turnover calculation was adjusted to exclude the value of securities acquired in connection with the fund's acquisition of the assets of the Capital Group Short-Term Municipal Fund on September 23, 2022. The portfolio turnover rate would have been 37% without the adjustment.

Refer to the notes to financial statements.

374 American Funds Tax-Exempt Funds

Financial highlights (continued)

**Limited Term Tax-Exempt Bond Fund of America**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net gains <br> (losses) on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, <br> end <br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets, <br> end of year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average <br> net assets** |<br>**Ratio of <br> net income <br> to average <br> net assets** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $15.29 | $.12 | $.01 | $.13 | $(.12) | $— | $(.12) | $15.30 | .84%<sup>5</sup> | $3784 | .59%<sup>6</sup> | 1.58%<sup>6</sup> |
| 7/31/2022 | 16.22 | .13 | (.85) | (.72) | (.13) | (.08) | (.21) | 15.29 | (4.46) | 3959 | .57 | .85 |
| 7/31/2021 | 16.23 | .16 | .08 | .24 | (.16) | (.09) | (.25) | 16.22 | 1.50 | 4273 | .58 | .98 |
| 7/31/2020 | 15.93 | .25 | .36 | .61 | (.26) | (.05) | (.31) | 16.23 | 3.88 | 3539 | .60 | 1.58 |
| 7/31/2019 | 15.52 | .31 | .41 | .72 | (.31) |  | (.31) | 15.93 | 4.71 | 3060 | .59 | 2.00 |
| 7/31/2018 | 15.77 | .31 | (.25) | .06 | (.31) |  | (.31) | 15.52 | .40 | 3057 | .59 | 2.00 |
| **Class C:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.29 | .06 | .01 | .07 | (.06) |  | (.06) | 15.30 | .48<sup>5</sup> | 18 | 1.29<sup>6</sup> | .89<sup>6</sup> |
| 7/31/2022 | 16.22 | .02 | (.85) | (.83) | (.02) | (.08) | (.10) | 15.29 | (5.13) | 17 | 1.27 | .15 |
| 7/31/2021 | 16.23 | .04 | .08 | .12 | (.04) | (.09) | (.13) | 16.22 | .78 | 18 | 1.28 | .28 |
| 7/31/2020 | 15.93 | .13 | .36 | .49 | (.14) | (.05) | (.19) | 16.23 | 3.16 | 16 | 1.30 | .89 |
| 7/31/2019 | 15.52 | .20 | .41 | .61 | (.20) |  | (.20) | 15.93 | 3.94 | 18 | 1.33 | 1.27 |
| 7/31/2018 | 15.77 | .20 | (.25) | (.05) | (.20) |  | (.20) | 15.52 | (.34) | 20 | 1.34 | 1.26 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.29 | .14 | .01 | .15 | (.14) |  | (.14) | 15.30 | 1.00<sup>5,7</sup> | —<sup>8</sup> | .26<sup>6,7</sup> | 1.92<sup>6,7</sup> |
| 7/31/2022 | 16.22 | .18 | (.85) | (.67) | (.18) | (.08) | (.26) | 15.29 | (4.18)<sup>7</sup> | —<sup>8</sup> | .27<sup>7</sup> | 1.15<sup>7</sup> |
| 7/31/2021 | 16.23 | .21 | .08 | .29 | (.21) | (.09) | (.30) | 16.22 | 1.80<sup>7</sup> | —<sup>8</sup> | .28<sup>7</sup> | 1.29<sup>7</sup> |
| 7/31/2020 | 15.93 | .29 | .36 | .65 | (.30) | (.05) | (.35) | 16.23 | 4.18<sup>7</sup> | —<sup>8</sup> | .30<sup>7</sup> | 1.89<sup>7</sup> |
| 7/31/2019 | 15.52 | .35 | .41 | .76 | (.35) |  | (.35) | 15.93 | 4.99<sup>7</sup> | —<sup>8</sup> | .33<sup>7</sup> | 2.27<sup>7</sup> |
| 7/31/2018 | 15.77 | .36 | (.25) | .11 | (.36) |  | (.36) | 15.52 | .68<sup>7</sup> | —<sup>8</sup> | .33<sup>7</sup> | 2.26<sup>7</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.29 | .11 | .01 | .12 | (.11) |  | (.11) | 15.30 | .82<sup>5</sup> | 44 | .62<sup>6</sup> | 1.54<sup>6</sup> |
| 7/31/2022 | 16.22 | .13 | (.85) | (.72) | (.13) | (.08) | (.21) | 15.29 | (4.50) | 54 | .61 | .79 |
| 7/31/2021 | 16.23 | .15 | .08 | .23 | (.15) | (.09) | (.24) | 16.22 | 1.46 | 86 | .61 | .97 |
| 7/31/2020 | 15.93 | .24 | .36 | .60 | (.25) | (.05) | (.30) | 16.23 | 3.85 | 97 | .62 | 1.54 |
| 7/31/2019 | 15.52 | .30 | .41 | .71 | (.30) |  | (.30) | 15.93 | 4.63 | 60 | .67 | 1.93 |
| 7/31/2018 | 15.77 | .30 | (.25) | .05 | (.30) |  | (.30) | 15.52 | .33 | 64 | .66 | 1.93 |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 375

Financial highlights (continued)

**Limited Term Tax-Exempt Bond Fund of America** (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **<br> Dividends and distributions** | **<br> Dividends and distributions** | **<br> Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net gains <br> (losses) on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, <br> end <br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets, <br> end of year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average <br> net assets** |<br>**Ratio of <br> net income <br> to average <br> net assets** |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $15.29 | $.13 | $.01 | $.14 | $(.13) | $— | $(.13) | $15.30 | .96%<sup>5</sup> | $954 | .35%<sup>6</sup> | 1.82%<sup>6</sup> |
| 7/31/2022 | 16.22 | .17 | (.85) | (.68) | (.17) | (.08) | (.25) | 15.29 | (4.24) | 1022 | .34 | 1.08 |
| 7/31/2021 | 16.23 | .20 | .08 | .28 | (.20) | (.09) | (.29) | 16.22 | 1.74 | 1185 | .34 | 1.21 |
| 7/31/2020 | 15.93 | .28 | .36 | .64 | (.29) | (.05) | (.34) | 16.23 | 4.12 | 777 | .36 | 1.81 |
| 7/31/2019 | 15.52 | .34 | .41 | .75 | (.34) |  | (.34) | 15.93 | 4.91 | 500 | .39 | 2.20 |
| 7/31/2018 | 15.77 | .34 | (.25) | .09 | (.34) |  | (.34) | 15.52 | .58 | 353 | .41 | 2.18 |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.29 | .14 | .01 | .15 | (.14) |  | (.14) | 15.30 | 1.01<sup>5</sup> | 1549 | .25<sup>6</sup> | 1.94<sup>6</sup> |
| 7/31/2022 | 16.22 | .19 | (.85) | (.66) | (.19) | (.08) | (.27) | 15.29 | (4.14) | 1054 | .23 | 1.19 |
| 7/31/2021 | 16.23 | .21 | .08 | .29 | (.21) | (.09) | (.30) | 16.22 | 1.84 | 1042 | .24 | 1.27 |
| 7/31/2020 | 15.93 | .30 | .36 | .66 | (.31) | (.05) | (.36) | 16.23 | 4.23 | 422 | .26 | 1.91 |
| 7/31/2019 | 15.52 | .36 | .41 | .77 | (.36) |  | (.36) | 15.93 | 5.02 | 308 | .30 | 2.29 |
| 7/31/2018 | 15.77 | .36 | (.25) | .11 | (.36) |  | (.36) | 15.52 | .70 | 187 | .30 | 2.29 |
| **Class R-6:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.29 | .14 | .01 | .15 | (.14) |  | (.14) | 15.30 | 1.01<sup>5</sup> | 792 | .25<sup>6</sup> | 1.92<sup>6</sup> |
| 7/31/2022 | 16.22 | .19 | (.85) | (.66) | (.19) | (.08) | (.27) | 15.29 | (4.14) | 839 | .23 | 1.19 |
| 7/31/2021 | 16.23 | .21 | .08 | .29 | (.21) | (.09) | (.30) | 16.22 | 1.84 | 961 | .24 | 1.31 |
| 7/31/2020 | 15.93 | .30 | .36 | .66 | (.31) | (.05) | (.36) | 16.23 | 4.23 | 692 | .26 | 1.88 |
| 7/31/2019 | 15.52 | .36 | .41 | .77 | (.36) |  | (.36) | 15.93 | 5.02 | 307 | .29 | 2.30 |
| 7/31/2018 | 15.77 | .36 | (.25) | .11 | (.36) |  | (.36) | 15.52 | .70 | 284 | .30 | 2.29 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months<br> ended<br> January 31,**<br>**2023<sup>345</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 16%<sup>9</sup> | 47% | 43% | 56% | 42% | 28% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Unaudited.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>8</sup> Amount less than $1 million.

<sup>9</sup> The portfolio turnover calculation was adjusted to exclude the value of securities acquired in connection with the fund's acquisition of the assets of the Capital Group Core Municipal Fund on September 23, 2022. The portfolio turnover rate would have been 22% without the adjustment.

Refer to the notes to financial statements.

376 American Funds Tax-Exempt Funds

Financial highlights (continued)

**The Tax-Exempt Bond Fund of America**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net (losses) <br> gains on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, <br> end <br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets, <br> end of year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average <br> net assets** |<br>**Ratio of <br> net income <br> to average <br> net assets** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $12.46 | $.16 | $(.10) | $.06 | $(.15) | $— | $(.15) | $12.37 | .55%<sup>5</sup> | $11754 | .52%<sup>6</sup> | 2.56%<sup>6</sup> |
| 7/31/2022 | 13.78 | .26 | (1.25) | (.99) | (.26) | (.07) | (.33) | 12.46 | (7.28) | 12649 | .50 | 2.01 |
| 7/31/2021 | 13.54 | .28 | .26 | .54 | (.28) | (.02) | (.30) | 13.78 | 4.06 | 14558 | .51 | 2.07 |
| 7/31/2020 | 13.29 | .33 | .25 | .58 | (.33) |  | (.33) | 13.54 | 4.40 | 12623 | .52 | 2.46 |
| 7/31/2019 | 12.81 | .37 | .47 | .84 | (.36) |  | (.36) | 13.29 | 6.71 | 10868 | .52 | 2.84 |
| 7/31/2018 | 12.98 | .38 | (.17) | .21 | (.38) |  | (.38) | 12.81 | 1.60 | 10102 | .53 | 2.91 |
| **Class C:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 12.46 | .12 | (.10) | .02 | (.11) |  | (.11) | 12.37 | .17<sup>5</sup> | 252 | 1.27<sup>6</sup> | 1.80<sup>6</sup> |
| 7/31/2022 | 13.78 | .16 | (1.25) | (1.09) | (.16) | (.07) | (.23) | 12.46 | (7.97) | 289 | 1.25 | 1.25 |
| 7/31/2021 | 13.54 | .18 | .26 | .44 | (.18) | (.02) | (.20) | 13.78 | 3.28 | 370 | 1.26 | 1.33 |
| 7/31/2020 | 13.29 | .23 | .25 | .48 | (.23) |  | (.23) | 13.54 | 3.64 | 376 | 1.26 | 1.73 |
| 7/31/2019 | 12.81 | .27 | .47 | .74 | (.26) |  | (.26) | 13.29 | 5.88 | 407 | 1.31 | 2.06 |
| 7/31/2018 | 12.98 | .27 | (.17) | .10 | (.27) |  | (.27) | 12.81 | .80 | 432 | 1.32 | 2.12 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 12.46 | .18 | (.10) | .08 | (.17) |  | (.17) | 12.37 | .69<sup>5,7</sup> | —<sup>8</sup> | .26<sup>6,7</sup> | 2.84<sup>6,7</sup> |
| 7/31/2022 | 13.78 | .29 | (1.25) | (.96) | (.29) | (.07) | (.36) | 12.46 | (7.05)<sup>7</sup> | —<sup>8</sup> | .25<sup>7</sup> | 2.25<sup>7</sup> |
| 7/31/2021 | 13.54 | .32 | .26 | .58 | (.32) | (.02) | (.34) | 13.78 | 4.32<sup>7</sup> | —<sup>8</sup> | .26<sup>7</sup> | 2.31<sup>7</sup> |
| 7/31/2020 | 13.29 | .36 | .25 | .61 | (.36) |  | (.36) | 13.54 | 4.65<sup>7</sup> | —<sup>8</sup> | .27<sup>7</sup> | 2.70<sup>7</sup> |
| 7/31/2019 | 12.81 | .40 | .47 | .87 | (.39) |  | (.39) | 13.29 | 6.93<sup>7</sup> | —<sup>8</sup> | .32<sup>7</sup> | 3.05<sup>7</sup> |
| 7/31/2018 | 12.98 | .40 | (.17) | .23 | (.40) |  | (.40) | 12.81 | 1.83<sup>7</sup> | —<sup>8</sup> | .32<sup>7</sup> | 3.12<sup>7</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 12.46 | .16 | (.10) | .06 | (.15) |  | (.15) | 12.37 | .51<sup>5</sup> | 195 | .60<sup>6</sup> | 2.48<sup>6</sup> |
| 7/31/2022 | 13.78 | .25 | (1.25) | (1.00) | (.25) | (.07) | (.32) | 12.46 | (7.35) | 227 | .59 | 1.92 |
| 7/31/2021 | 13.54 | .27 | .26 | .53 | (.27) | (.02) | (.29) | 13.78 | 3.97 | 270 | .59 | 2.00 |
| 7/31/2020 | 13.29 | .32 | .25 | .57 | (.32) |  | (.32) | 13.54 | 4.31 | 313 | .60 | 2.39 |
| 7/31/2019 | 12.81 | .36 | .47 | .83 | (.35) |  | (.35) | 13.29 | 6.58 | 338 | .64 | 2.72 |
| 7/31/2018 | 12.98 | .36 | (.17) | .19 | (.36) |  | (.36) | 12.81 | 1.48 | 370 | .65 | 2.80 |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 377

Financial highlights (continued)

**The Tax-Exempt Bond Fund of America** (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Income (loss) from**<br> **investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset <br> value, <br> beginning <br> of year** | **Net <br> investment <br> income** | **Net (losses) <br> gains on <br> securities <br> (both <br> realized and <br> unrealized)** | **Total from <br> investment <br> operations** | **Dividends <br> (from net <br> investment <br> income)** | **Distributions <br> (from capital <br> gains)** | **Total <br> dividends <br> and <br> distributions** |<br>**Net asset <br> value, <br> end <br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets, <br> end of year <br> (in millions)** |<br>**Ratio of <br> expenses to <br> average <br> net assets** |<br>**Ratio of <br> net income <br> to average <br> net assets** |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $12.46 | $.17 | $(.10) | $.07 | $(.16) | $— | $(.16) | $12.37 | .64%<sup>5</sup> | $4699 | .35%<sup>6</sup> | 2.73%<sup>6</sup> |
| 7/31/2022 | 13.78 | .28 | (1.25) | (.97) | (.28) | (.07) | (.35) | 12.46 | (7.11) | 5047 | .33 | 2.18 |
| 7/31/2021 | 13.54 | .31 | .26 | .57 | (.31) | (.02) | (.33) | 13.78 | 4.24 | 5469 | .33 | 2.24 |
| 7/31/2020 | 13.29 | .35 | .25 | .60 | (.35) |  | (.35) | 13.54 | 4.59 | 3814 | .34 | 2.63 |
| 7/31/2019 | 12.81 | .39 | .47 | .86 | (.38) |  | (.38) | 13.29 | 6.86 | 2778 | .38 | 2.98 |
| 7/31/2018 | 12.98 | .39 | (.17) | .22 | (.39) |  | (.39) | 12.81 | 1.74 | 2177 | .39 | 3.05 |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 12.46 | .18 | (.10) | .08 | (.17) |  | (.17) | 12.37 | .69<sup>5</sup> | 5073 | .24<sup>6</sup> | 2.84<sup>6</sup> |
| 7/31/2022 | 13.78 | .30 | (1.25) | (.95) | (.30) | (.07) | (.37) | 12.46 | (7.01) | 6245 | .22 | 2.29 |
| 7/31/2021 | 13.54 | .32 | .26 | .58 | (.32) | (.02) | (.34) | 13.78 | 4.35 | 6718 | .23 | 2.36 |
| 7/31/2020 | 13.29 | .36 | .25 | .61 | (.36) |  | (.36) | 13.54 | 4.70 | 7950 | .24 | 2.74 |
| 7/31/2019 | 12.81 | .41 | .47 | .88 | (.40) |  | (.40) | 13.29 | 6.97 | 6570 | .27 | 3.09 |
| 7/31/2018 | 12.98 | .41 | (.17) | .24 | (.41) |  | (.41) | 12.81 | 1.84 | 5397 | .28 | 3.11 |
| **Class R-6:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 12.46 | .18 | (.10) | .08 | (.17) |  | (.17) | 12.37 | .69<sup>5</sup> | 672 | .24<sup>6</sup> | 2.84<sup>6</sup> |
| 7/31/2022 | 13.78 | .30 | (1.25) | (.95) | (.30) | (.07) | (.37) | 12.46 | (7.01) | 693 | .22 | 2.30 |
| 7/31/2021 | 13.54 | .32 | .26 | .58 | (.32) | (.02) | (.34) | 13.78 | 4.35 | 638 | .23 | 2.35 |
| 7/31/2020 | 13.29 | .36 | .25 | .61 | (.36) |  | (.36) | 13.54 | 4.70 | 473 | .24 | 2.76 |
| 7/31/2019 | 12.81 | .41 | .47 | .88 | (.40) |  | (.40) | 13.29 | 6.97 | 685 | .27 | 3.09 |
| 7/31/2018 | 12.98 | .41 | (.17) | .24 | (.41) |  | (.41) | 12.81 | 1.85 | 550 | .28 | 3.15 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months<br> ended<br> January 31,**<br>**2023<sup>345</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 7% | 29% | 21% | 24% | 20% | 17% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Unaudited.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>8</sup> Amount less than $1 million.

Refer to the notes to financial statements.

378 American Funds Tax-Exempt Funds

Financial highlights (continued)

**American High-Income Municipal Bond Fund**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average<br> net assets** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $15.30 | $.29 | $(.41) | $(.12) | $(.26) | $— | $(.26) | $14.92 | (.71)%<sup>5</sup> | $4905 | .66%<sup>6</sup> | 3.92%<sup>6</sup> |
| 7/31/2022 | 17.20 | .48 | (1.79) | (1.31) | (.46) | (.13) | (.59) | 15.30 | (7.78) | 5354 | .63 | 2.95 |
| 7/31/2021 | 16.20 | .48 | 1.04 | 1.52 | (.49) | (.03) | (.52) | 17.20 | 9.52 | 5875 | .65 | 2.91 |
| 7/31/2020 | 16.33 | .59 | (.17) | .42 | (.54) | (.01) | (.55) | 16.20 | 2.68 | 4871 | .68 | 3.63 |
| 7/31/2019 | 15.78 | .58 | .54 | 1.12 | (.57) |  | (.57) | 16.33 | 7.28 | 4637 | .68 | 3.67 |
| 7/31/2018 | 15.73 | .59 | .04 | .63 | (.58) |  | (.58) | 15.78 | 4.05 | 4062 | .69 | 3.72 |
| **Class C:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.30 | .24 | (.41) | (.17) | (.21) |  | (.21) | 14.92 | (1.07)<sup>5</sup> | 138 | 1.37<sup>6</sup> | 3.21<sup>6</sup> |
| 7/31/2022 | 17.20 | .36 | (1.78) | (1.42) | (.35) | (.13) | (.48) | 15.30 | (8.43) | 161 | 1.33 | 2.23 |
| 7/31/2021 | 16.20 | .36 | 1.04 | 1.40 | (.37) | (.03) | (.40) | 17.20 | 8.76 | 209 | 1.35 | 2.22 |
| 7/31/2020 | 16.33 | .48 | (.17) | .31 | (.43) | (.01) | (.44) | 16.20 | 1.97 | 203 | 1.38 | 2.93 |
| 7/31/2019 | 15.78 | .47 | .54 | 1.01 | (.46) |  | (.46) | 16.33 | 6.49 | 238 | 1.41 | 2.94 |
| 7/31/2018 | 15.73 | .47 | .04 | .51 | (.46) |  | (.46) | 15.78 | 3.29 | 227 | 1.43 | 2.97 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.30 | .31 | (.41) | (.10) | (.28) |  | (.28) | 14.92 | (.57)<sup>5,7</sup> | —<sup>8</sup> | .37<sup>6,7</sup> | 4.21<sup>6,7</sup> |
| 7/31/2022 | 17.20 | .53 | (1.79) | (1.26) | (.51) | (.13) | (.64) | 15.30 | (7.51)<sup>7</sup> | —<sup>8</sup> | .33<sup>7</sup> | 3.25<sup>7</sup> |
| 7/31/2021 | 16.20 | .53 | 1.04 | 1.57 | (.54) | (.03) | (.57) | 17.20 | 9.84<sup>7</sup> | —<sup>8</sup> | .35<sup>7</sup> | 3.21<sup>7</sup> |
| 7/31/2020 | 16.33 | .64 | (.17) | .47 | (.59) | (.01) | (.60) | 16.20 | 2.99<sup>7</sup> | —<sup>8</sup> | .38<sup>7</sup> | 3.92<sup>7</sup> |
| 7/31/2019 | 15.78 | .62 | .54 | 1.16 | (.61) |  | (.61) | 16.33 | 7.55<sup>7</sup> | —<sup>8</sup> | .42<sup>7</sup> | 3.93<sup>7</sup> |
| 7/31/2018 | 15.73 | .63 | .04 | .67 | (.62) |  | (.62) | 15.78 | 4.34<sup>7</sup> | —<sup>8</sup> | .43<sup>7</sup> | 3.98<sup>7</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.30 | .29 | (.41) | (.12) | (.26) |  | (.26) | 14.92 | (.72)<sup>5</sup> | 114 | .68<sup>6</sup> | 3.91<sup>6</sup> |
| 7/31/2022 | 17.20 | .47 | (1.78) | (1.31) | (.46) | (.13) | (.59) | 15.30 | (7.81) | 100 | .66 | 2.91 |
| 7/31/2021 | 16.20 | .48 | 1.04 | 1.52 | (.49) | (.03) | (.52) | 17.20 | 9.50 | 125 | .68 | 2.90 |
| 7/31/2020 | 16.33 | .59 | (.17) | .42 | (.54) | (.01) | (.55) | 16.20 | 2.66 | 146 | .70 | 3.60 |
| 7/31/2019 | 15.78 | .57 | .54 | 1.11 | (.56) |  | (.56) | 16.33 | 7.21 | 180 | .74 | 3.61 |
| 7/31/2018 | 15.73 | .58 | .04 | .62 | (.57) |  | (.57) | 15.78 | 3.99 | 208 | .75 | 3.65 |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 379

Financial highlights (continued)

**American High-Income Municipal Bond Fund** (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **(Loss) income from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average<br> net assets** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $15.30 | $.31 | $(.41) | $(.10) | $(.28) | $— | $(.28) | $14.92 | (.59)%<sup>5</sup> | $1858 | .42%<sup>6</sup> | 4.16%<sup>6</sup> |
| 7/31/2022 | 17.20 | .52 | (1.79) | (1.27) | (.50) | (.13) | (.63) | 15.30 | (7.57) | 1784 | .39 | 3.20 |
| 7/31/2021 | 16.20 | .52 | 1.04 | 1.56 | (.53) | (.03) | (.56) | 17.20 | 9.78 | 1773 | .41 | 3.13 |
| 7/31/2020 | 16.33 | .63 | (.17) | .46 | (.58) | (.01) | (.59) | 16.20 | 2.93 | 1186 | .44 | 3.86 |
| 7/31/2019 | 15.78 | .61 | .54 | 1.15 | (.60) |  | (.60) | 16.33 | 7.49 | 1114 | .47 | 3.87 |
| 7/31/2018 | 15.73 | .62 | .04 | .66 | (.61) |  | (.61) | 15.78 | 4.26 | 798 | .49 | 3.91 |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.30 | .32 | (.41) | (.09) | (.29) |  | (.29) | 14.92 | (.54)<sup>5</sup> | 2496 | .32<sup>6</sup> | 4.27<sup>6</sup> |
| 7/31/2022 | 17.20 | .54 | (1.79) | (1.25) | (.52) | (.13) | (.65) | 15.30 | (7.47) | 2302 | .29 | 3.32 |
| 7/31/2021 | 16.20 | .54 | 1.04 | 1.58 | (.55) | (.03) | (.58) | 17.20 | 9.89 | 1914 | .31 | 3.22 |
| 7/31/2020 | 16.33 | .65 | (.17) | .48 | (.60) | (.01) | (.61) | 16.20 | 3.04 | 1085 | .33 | 3.97 |
| 7/31/2019 | 15.78 | .63 | .54 | 1.17 | (.62) |  | (.62) | 16.33 | 7.60 | 897 | .37 | 3.97 |
| 7/31/2018 | 15.73 | .64 | .04 | .68 | (.63) |  | (.63) | 15.78 | 4.37 | 646 | .38 | 4.02 |
| **Class R-6:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 15.30 | .32 | (.41) | (.09) | (.29) |  | (.29) | 14.92 | (.54)<sup>5</sup> | 1127 | .32<sup>6</sup> | 4.27<sup>6</sup> |
| 7/31/2022 | 17.20 | .53 | (1.78) | (1.25) | (.52) | (.13) | (.65) | 15.30 | (7.47) | 1149 | .29 | 3.31 |
| 7/31/2021 | 16.20 | .54 | 1.04 | 1.58 | (.55) | (.03) | (.58) | 17.20 | 9.89 | 1066 | .31 | 3.25 |
| 7/31/2020 | 16.33 | .65 | (.17) | .48 | (.60) | (.01) | (.61) | 16.20 | 3.04 | 794 | .33 | 3.98 |
| 7/31/2019 | 15.78 | .63 | .54 | 1.17 | (.62) |  | (.62) | 16.33 | 7.61 | 686 | .37 | 3.98 |
| 7/31/2018 | 15.73 | .64 | .04 | .68 | (.63) |  | (.63) | 15.78 | 4.37 | 550 | .38 | 4.02 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months <br> ended<br> January 31,**<br>**2023<sup>345</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 14% | 35% | 24% | 35% | 20% | 24% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Unaudited.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>8</sup> Amount less than $1 million.

Refer to the notes to financial statements.

380 American Funds Tax-Exempt Funds

Financial highlights (continued)

**The Tax-Exempt Fund of California**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average<br> net assets** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $16.72 | $.22 | $(.08) | $.14 | $(.21) | $— | $(.21) | $16.65 | .89%<sup>5</sup> | $1499 | .56%<sup>6</sup> | 2.66%<sup>6</sup> |
| 7/31/2022 | 18.54 | .37 | (1.75) | (1.38) | (.37) | (.07) | (.44) | 16.72 | (7.57) | 1677 | .57 | 2.10 |
| 7/31/2021 | 18.29 | .38 | .32 | .70 | (.38) | (.07) | (.45) | 18.54 | 3.92 | 2033 | .58 | 2.10 |
| 7/31/2020 | 18.08 | .43 | .30 | .73 | (.43) | (.09) | (.52) | 18.29 | 4.14 | 1941 | .61 | 2.40 |
| 7/31/2019 | 17.43 | .50 | .65 | 1.15 | (.50) |  | (.50) | 18.08 | 6.73 | 1784 | .59 | 2.88 |
| 7/31/2018 | 17.63 | .51 | (.20) | .31 | (.51) |  | (.51) | 17.43 | 1.77 | 1678 | .61 | 2.90 |
| **Class C:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 16.72 | .16 | (.08) | .08 | (.15) |  | (.15) | 16.65 | .50<sup>5</sup> | 34 | 1.31<sup>6</sup> | 1.91<sup>6</sup> |
| 7/31/2022 | 18.54 | .24 | (1.75) | (1.51) | (.24) | (.07) | (.31) | 16.72 | (8.26) | 39 | 1.32 | 1.34 |
| 7/31/2021 | 18.29 | .25 | .32 | .57 | (.25) | (.07) | (.32) | 18.54 | 3.14 | 54 | 1.33 | 1.35 |
| 7/31/2020 | 18.08 | .30 | .30 | .60 | (.30) | (.09) | (.39) | 18.29 | 3.36 | 60 | 1.36 | 1.65 |
| 7/31/2019 | 17.43 | .36 | .65 | 1.01 | (.36) |  | (.36) | 18.08 | 5.90 | 69 | 1.38 | 2.10 |
| 7/31/2018 | 17.63 | .37 | (.20) | .17 | (.37) |  | (.37) | 17.43 | .97 | 71 | 1.40 | 2.11 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 16.72 | .24 | (.08) | .16 | (.23) |  | (.23) | 16.65 | 1.01<sup>5,7</sup> | —<sup>8</sup> | .31<sup>6,7</sup> | 2.91<sup>6,7</sup> |
| 7/31/2022 | 18.54 | .41 | (1.75) | (1.34) | (.41) | (.07) | (.48) | 16.72 | (7.35)<sup>7</sup> | —<sup>8</sup> | .32<sup>7</sup> | 2.34<sup>7</sup> |
| 7/31/2021 | 18.29 | .43 | .32 | .75 | (.43) | (.07) | (.50) | 18.54 | 4.17<sup>7</sup> | —<sup>8</sup> | .34<sup>7</sup> | 2.33<sup>7</sup> |
| 7/31/2020 | 18.08 | .48 | .30 | .78 | (.48) | (.09) | (.57) | 18.29 | 4.38<sup>7</sup> | —<sup>8</sup> | .37<sup>7</sup> | 2.62<sup>7</sup> |
| 7/31/2019 | 17.43 | .54 | .65 | 1.19 | (.54) |  | (.54) | 18.08 | 6.95<sup>7</sup> | —<sup>8</sup> | .39<sup>7</sup> | 3.09<sup>7</sup> |
| 7/31/2018 | 17.63 | .54 | (.20) | .34 | (.54) |  | (.54) | 17.43 | 1.98<sup>7</sup> | —<sup>8</sup> | .40<sup>7</sup> | 3.10<sup>7</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 16.72 | .21 | (.08) | .13 | (.20) |  | (.20) | 16.65 | .84<sup>5</sup> | 47 | .65<sup>6</sup> | 2.57<sup>6</sup> |
| 7/31/2022 | 18.54 | .35 | (1.75) | (1.40) | (.35) | (.07) | (.42) | 16.72 | (7.66) | 50 | .66 | 2.00 |
| 7/31/2021 | 18.29 | .37 | .32 | .69 | (.37) | (.07) | (.44) | 18.54 | 3.82 | 64 | .67 | 2.01 |
| 7/31/2020 | 18.08 | .42 | .30 | .72 | (.42) | (.09) | (.51) | 18.29 | 4.05 | 71 | .70 | 2.31 |
| 7/31/2019 | 17.43 | .48 | .65 | 1.13 | (.48) |  | (.48) | 18.08 | 6.59 | 72 | .72 | 2.76 |
| 7/31/2018 | 17.63 | .49 | (.20) | .29 | (.49) |  | (.49) | 17.43 | 1.64 | 75 | .73 | 2.77 |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 381

Financial highlights (continued)

**The Tax-Exempt Fund of California** (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Income (loss) from<br> investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value,<br> end<br> of year** |<br>**Total return<sup>2</sup>** |<br>**Net assets,<br> end of year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average<br> net assets** |<br>**Ratio of<br> net income<br> to average<br> net assets** |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | $16.72 | $.23 | $(.08) | $.15 | $(.22) | $— | $(.22) | $16.65 | .98%<sup>5</sup> | $513 | .38%<sup>6</sup> | 2.84%<sup>6</sup> |
| 7/31/2022 | 18.54 | .40 | (1.75) | (1.35) | (.40) | (.07) | (.47) | 16.72 | (7.41) | 528 | .39 | 2.27 |
| 7/31/2021 | 18.29 | .42 | .32 | .74 | (.42) | (.07) | (.49) | 18.54 | 4.10 | 634 | .40 | 2.27 |
| 7/31/2020 | 18.08 | .47 | .30 | .77 | (.47) | (.09) | (.56) | 18.29 | 4.33 | 547 | .42 | 2.58 |
| 7/31/2019 | 17.43 | .53 | .65 | 1.18 | (.53) |  | (.53) | 18.08 | 6.88 | 411 | .45 | 3.02 |
| 7/31/2018 | 17.63 | .53 | (.20) | .33 | (.53) |  | (.53) | 17.43 | 1.89 | 257 | .48 | 3.03 |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>3,4</sup> | 16.72 | .24 | (.08) | .16 | (.23) |  | (.23) | 16.65 | 1.02<sup>5</sup> | 489 | .29<sup>6</sup> | 2.93<sup>6</sup> |
| 7/31/2022 | 18.54 | .42 | (1.75) | (1.33) | (.42) | (.07) | (.49) | 16.72 | (7.32) | 432 | .30 | 2.37 |
| 7/31/2021 | 18.29 | .43 | .32 | .75 | (.43) | (.07) | (.50) | 18.54 | 4.20 | 440 | .31 | 2.36 |
| 7/31/2020 | 18.08 | .48 | .30 | .78 | (.48) | (.09) | (.57) | 18.29 | 4.42 | 320 | .33 | 2.67 |
| 7/31/2019 | 17.43 | .55 | .64 | 1.19 | (.54) |  | (.54) | 18.08 | 6.98 | 241 | .36 | 3.11 |
| 7/31/2018 | 17.63 | .55 | (.20) | .35 | (.55) |  | (.55) | 17.43 | 2.01 | 174 | .37 | 3.13 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months <br> ended<br> January 31,**<br>**2023<sup>345</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 10% | 27% | 17% | 26% | 27% | 14% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Unaudited.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>8</sup> Amount less than $1 million.

Refer to the notes to financial statements.

382 American Funds Tax-Exempt Funds

Financial highlights (continued)

**American Funds Tax-Exempt Fund of New York**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value, end<br> of year** |<br>**Total return<sup>2,3</sup>** |<br>**Net assets,<br> end of<br> year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers/<br> reimburse-<br> ments** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers/<br> reimburse-<br> ments<sup>3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>3</sup>** |
| **Class A:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | $10.19 | $.13 | $(.11) | $.02 | $(.13) | $— | $(.13) | $10.08 | .24%<sup>6</sup> | $169 | .69%<sup>7</sup> | .59%<sup>7</sup> | 2.63%<sup>7</sup> |
| 7/31/2022 | 11.45 | .23 | (1.18) | (.95) | (.23) | (.08) | (.31) | 10.19 | (8.42) | 182 | .65 | .61 | 2.12 |
| 7/31/2021 | 11.10 | .24 | .35 | .59 | (.24) | —<sup>8</sup> | (.24) | 11.45 | 5.46 | 208 | .67 | .62 | 2.19 |
| 7/31/2020 | 11.02 | .27 | .07 | .34 | (.26) |  | (.26) | 11.10 | 3.18 | 220 | .67 | .62 | 2.43 |
| 7/31/2019 | 10.61 | .28 | .41 | .69 | (.28) |  | (.28) | 11.02 | 6.57 | 200 | .67 | .67 | 2.60 |
| 7/31/2018 | 10.80 | .27 | (.19) | .08 | (.27) |  | (.27) | 10.61 | .75<sup>9</sup> | 183 | .72<sup>9</sup> | .69<sup>9</sup> | 2.52<sup>9</sup> |
| **Class C:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 10.19 | .09 | (.11) | (.02) | (.09) |  | (.09) | 10.08 | (.14)<sup>6</sup> | 10 | 1.44<sup>7</sup> | 1.34<sup>7</sup> | 1.88<sup>7</sup> |
| 7/31/2022 | 11.45 | .15 | (1.18) | (1.03) | (.15) | (.08) | (.23) | 10.19 | (9.11) | 10 | 1.40 | 1.36 | 1.37 |
| 7/31/2021 | 11.10 | .16 | .35 | .51 | (.16) | —<sup>8</sup> | (.16) | 11.45 | 4.67 | 11 | 1.42 | 1.37 | 1.43 |
| 7/31/2020 | 11.02 | .19 | .07 | .26 | (.18) |  | (.18) | 11.10 | 2.41 | 10 | 1.42 | 1.37 | 1.68 |
| 7/31/2019 | 10.61 | .19 | .41 | .60 | (.19) |  | (.19) | 11.02 | 5.74 | 12 | 1.46 | 1.45 | 1.81 |
| 7/31/2018 | 10.80 | .19 | (.19) | —<sup>8</sup> | (.19) |  | (.19) | 10.61 | (.04) | 12 | 1.52 | 1.48 | 1.73 |
| **Class T:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 10.19 | .14 | (.11) | .03 | (.14) |  | (.14) | 10.08 | .38<sup>6,9</sup> | —<sup>10</sup> | .42<sup>7,9</sup> | .32<sup>7,9</sup> | 2.91<sup>7,9</sup> |
| 7/31/2022 | 11.45 | .25 | (1.18) | (.93) | (.25) | (.08) | (.33) | 10.19 | (8.20)<sup>9</sup> | —<sup>10</sup> | .40<sup>9</sup> | .36<sup>9</sup> | 2.37<sup>9</sup> |
| 7/31/2021 | 11.10 | .27 | .35 | .62 | (.27) | —<sup>8</sup> | (.27) | 11.45 | 5.72<sup>9</sup> | —<sup>10</sup> | .42<sup>9</sup> | .37<sup>9</sup> | 2.43<sup>9</sup> |
| 7/31/2020 | 11.02 | .30 | .07 | .37 | (.29) |  | (.29) | 11.10 | 3.42<sup>9</sup> | —<sup>10</sup> | .42<sup>9</sup> | .38<sup>9</sup> | 2.66<sup>9</sup> |
| 7/31/2019 | 10.61 | .30 | .41 | .71 | (.30) |  | (.30) | 11.02 | 6.78<sup>9</sup> | —<sup>10</sup> | .47<sup>9</sup> | .46<sup>9</sup> | 2.79<sup>9</sup> |
| 7/31/2018 | 10.80 | .29 | (.19) | .10 | (.29) |  | (.29) | 10.61 | .98<sup>9</sup> | —<sup>10</sup> | .52<sup>9</sup> | .48<sup>9</sup> | 2.73<sup>9</sup> |
| **Class F-1:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 10.19 | .13 | (.11) | .02 | (.13) |  | (.13) | 10.08 | .21<sup>6</sup> | 1 | .74<sup>7</sup> | .65<sup>7</sup> | 2.57<sup>7</sup> |
| 7/31/2022 | 11.45 | .23 | (1.18) | (.95) | (.23) | (.08) | (.31) | 10.19 | (8.43) | 1 | .66 | .62 | 2.10 |
| 7/31/2021 | 11.10 | .24 | .35 | .59 | (.24) | —<sup>8</sup> | (.24) | 11.45 | 5.44<sup>9</sup> | 3 | .69<sup>9</sup> | .63<sup>9</sup> | 2.16<sup>9</sup> |
| 7/31/2020 | 11.02 | .27 | .07 | .34 | (.26) |  | (.26) | 11.10 | 3.16<sup>9</sup> | 2 | .68<sup>9</sup> | .64<sup>9</sup> | 2.41<sup>9</sup> |
| 7/31/2019 | 10.61 | .27 | .41 | .68 | (.27) |  | (.27) | 11.02 | 6.52<sup>9</sup> | 2 | .72<sup>9</sup> | .71<sup>9</sup> | 2.55<sup>9</sup> |
| 7/31/2018 | 10.80 | .26 | (.19) | .07 | (.26) |  | (.26) | 10.61 | .69<sup>9</sup> | 2 | .79<sup>9</sup> | .75<sup>9</sup> | 2.45<sup>9</sup> |

---

Refer to the end of the tables for footnotes.

American Funds Tax-Exempt Funds 383

Financial highlights (continued)

**American Funds Tax-Exempt Fund of New York** (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Income (loss) from investment operations<sup>1</sup>** | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended** |<br>**Net asset<br> value,<br> beginning<br> of year** | **Net<br> investment<br> income** | **Net (losses)<br> gains on<br> securities<br> (both<br> realized and<br> unrealized)** | **Total from<br> investment<br> operations** | **Dividends<br> (from net<br> investment<br> income)** | **Distributions<br> (from capital<br> gains)** | **Total<br> dividends<br> and<br> distributions** |<br>**Net asset<br> value, end<br> of year** |<br>**Total return<sup>2,3</sup>** |<br>**Net assets,<br> end of<br> year<br> (in millions)** |<br>**Ratio of<br> expenses to<br> average net<br> assets before<br> waivers/<br> reimburse-<br> ments** |<br>**Ratio of<br> expenses to<br> average net<br> assets after<br> waivers/<br> reimburse-<br> ments<sup>3</sup>** |<br>**Ratio of<br> net income<br> to average<br> net assets<sup>3</sup>** |
| **Class F-2:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | $10.19 | $.14 | $(.11) | $.03 | $(.14) | $— | $(.14) | $10.08 | .33%<sup>6</sup> | $27 | .51%<sup>7</sup> | .41%<sup>7</sup> | 2.81%<sup>7</sup> |
| 7/31/2022 | 11.45 | .25 | (1.18) | (.93) | (.25) | (.08) | (.33) | 10.19 | (8.26) | 27 | .48 | .43 | 2.30 |
| 7/31/2021 | 11.10 | .26 | .35 | .61 | (.26) | —<sup>8</sup> | (.26) | 11.45 | 5.65 | 31 | .49 | .44 | 2.36 |
| 7/31/2020 | 11.02 | .29 | .07 | .36 | (.28) |  | (.28) | 11.10 | 3.36 | 27 | .49 | .45 | 2.60 |
| 7/31/2019 | 10.61 | .29 | .41 | .70 | (.29) |  | (.29) | 11.02 | 6.74 | 29 | .51 | .51 | 2.75 |
| 7/31/2018 | 10.80 | .29 | (.19) | .10 | (.29) |  | (.29) | 10.61 | .89 | 16 | .59 | .54 | 2.67 |
| **Class F-3:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 1/31/2023<sup>4,5</sup> | 10.19 | .14 | (.11) | .03 | (.14) |  | (.14) | 10.08 | .38<sup>6</sup> | 36 | .40<sup>7</sup> | .30<sup>7</sup> | 2.92<sup>7</sup> |
| 7/31/2022 | 11.45 | .26 | (1.18) | (.92) | (.26) | (.08) | (.34) | 10.19 | (8.16) | 40 | .37 | .33 | 2.41 |
| 7/31/2021 | 11.10 | .28 | .35 | .63 | (.28) | —<sup>8</sup> | (.28) | 11.45 | 5.76 | 39 | .39 | .34 | 2.46 |
| 7/31/2020 | 11.02 | .31 | .07 | .38 | (.30) |  | (.30) | 11.10 | 3.46 | 33 | .39 | .35 | 2.71 |
| 7/31/2019 | 10.61 | .30 | .41 | .71 | (.30) |  | (.30) | 11.02 | 6.83 | 32 | .42 | .42 | 2.84 |
| 7/31/2018 | 10.80 | .30 | (.19) | .11 | (.30) |  | (.30) | 10.61 | 1.00 | 26 | .48 | .44 | 2.78 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** | **Year ended July 31,** |
| | **Six months <br> ended<br> January 31,**<br>**2023<sup>456</sup>** | **2022** | **2021** | **2020** | **2019** | **2018** |
| Portfolio turnover rate for all share classes | 10% | 22% | 24% | 27% | 16% | 21% |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Total returns exclude any applicable sales charges, including contingent deferred sales charges.

<sup>3</sup> This column reflects the impact, if any, of certain waivers/reimbursements from CRMC. During one of the years shown, CRMC waived a portion of investment advisory services fees and during the years shown reimbursed a portion of miscellaneous fees and expenses.

<sup>4</sup> Based on operations for a period that is less than a full year.

<sup>5</sup> Unaudited.

<sup>6</sup> Not annualized.

<sup>7</sup> Annualized.

<sup>8</sup> Amount less than $.01.

<sup>9</sup> All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.

<sup>10</sup> Amount less than $1 million.

Refer to the notes to financial statements.

384 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Expense example | **unaudited** |

---

As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (August 1, 2022, through January 31, 2023).

**Actual expenses:**

The first line of each share class in the tables on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled "Expenses paid during period" to estimate the expenses you paid on your account during this period.

**Hypothetical example for comparison purposes:**

The second line of each share class in the tables on the following pages provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.

**Notes:**

Class F-1, F-2 and F-3 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.

Note that the expenses shown in the tables on the following pages are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the tables is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

American Funds Tax-Exempt Funds 385

Expense example (continued)

**American Funds Short-Term Tax-Exempt Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $1007.19 | $2.12 | .42% |
| Class A – assumed 5% return | 1000.00 | 1023.09 | 2.14 | .42 |
| Class T – actual return | 1000.00 | 1008.05 | 1.27 | .25 |
| Class T – assumed 5% return | 1000.00 | 1023.95 | 1.28 | .25 |
| Class F-1 – actual return | 1000.00 | 1006.28 | 3.03 | .60 |
| Class F-1 – assumed 5% return | 1000.00 | 1022.18 | 3.06 | .60 |
| Class F-2 – actual return | 1000.00 | 1007.74 | 1.62 | .32 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.59 | 1.63 | .32 |
| Class F-3 – actual return | 1000.00 | 1008.09 | 1.21 | .24 |
| Class F-3 – assumed 5% return | 1000.00 | 1024.00 | 1.22 | .24 |
| Class R-6 – actual return | 1000.00 | 1008.12 | 1.21 | .24 |
| Class R-6 – assumed 5% return | 1000.00 | 1024.00 | 1.22 | .24 |

---

**Limited Term Tax-Exempt Bond Fund of America**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $1008.38 | $2.99 | .59% |
| Class A – assumed 5% return | 1000.00 | 1022.23 | 3.01 | .59 |
| Class C – actual return | 1000.00 | 1004.81 | 6.52 | 1.29 |
| Class C – assumed 5% return | 1000.00 | 1018.70 | 6.56 | 1.29 |
| Class T – actual return | 1000.00 | 1010.03 | 1.32 | .26 |
| Class T – assumed 5% return | 1000.00 | 1023.89 | 1.33 | .26 |
| Class F-1 – actual return | 1000.00 | 1008.19 | 3.14 | .62 |
| Class F-1 – assumed 5% return | 1000.00 | 1022.08 | 3.16 | .62 |
| Class F-2 – actual return | 1000.00 | 1009.56 | 1.77 | .35 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.44 | 1.79 | .35 |
| Class F-3 – actual return | 1000.00 | 1010.11 | 1.27 | .25 |
| Class F-3 – assumed 5% return | 1000.00 | 1023.95 | 1.28 | .25 |
| Class R-6 – actual return | 1000.00 | 1010.09 | 1.27 | .25 |
| Class R-6 – assumed 5% return | 1000.00 | 1023.95 | 1.28 | .25 |

---

Refer to the end of the tables for footnote.

386 American Funds Tax-Exempt Funds

Expense example (continued)

**The Tax-Exempt Bond Fund of America**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $1005.48 | $2.63 | .52% |
| Class A – assumed 5% return | 1000.00 | 1022.58 | 2.65 | .52 |
| Class C – actual return | 1000.00 | 1001.69 | 6.41 | 1.27 |
| Class C – assumed 5% return | 1000.00 | 1018.80 | 6.46 | 1.27 |
| Class T – actual return | 1000.00 | 1006.88 | 1.32 | .26 |
| Class T – assumed 5% return | 1000.00 | 1023.89 | 1.33 | .26 |
| Class F-1 – actual return | 1000.00 | 1005.07 | 3.03 | .60 |
| Class F-1 – assumed 5% return | 1000.00 | 1022.18 | 3.06 | .60 |
| Class F-2 – actual return | 1000.00 | 1006.39 | 1.77 | .35 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.44 | 1.79 | .35 |
| Class F-3 – actual return | 1000.00 | 1006.93 | 1.21 | .24 |
| Class F-3 – assumed 5% return | 1000.00 | 1024.00 | 1.22 | .24 |
| Class R-6 – actual return | 1000.00 | 1006.93 | 1.21 | .24 |
| Class R-6 – assumed 5% return | 1000.00 | 1024.00 | 1.22 | .24 |

---

**American High-Income Municipal Bond Fund**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $992.87 | $3.32 | .66% |
| Class A – assumed 5% return | 1000.00 | 1021.88 | 3.36 | .66 |
| Class C – actual return | 1000.00 | 989.32 | 6.87 | 1.37 |
| Class C – assumed 5% return | 1000.00 | 1018.30 | 6.97 | 1.37 |
| Class T – actual return | 1000.00 | 994.33 | 1.86 | .37 |
| Class T – assumed 5% return | 1000.00 | 1023.34 | 1.89 | .37 |
| Class F-1 – actual return | 1000.00 | 992.82 | 3.42 | .68 |
| Class F-1 – assumed 5% return | 1000.00 | 1021.78 | 3.47 | .68 |
| Class F-2 – actual return | 1000.00 | 994.07 | 2.11 | .42 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.09 | 2.14 | .42 |
| Class F-3 – actual return | 1000.00 | 994.61 | 1.61 | .32 |
| Class F-3 – assumed 5% return | 1000.00 | 1023.59 | 1.63 | .32 |
| Class R-6 – actual return | 1000.00 | 994.61 | 1.61 | .32 |
| Class R-6 – assumed 5% return | 1000.00 | 1023.59 | 1.63 | .32 |

---

Refer to the end of the tables for footnote.

American Funds Tax-Exempt Funds 387

Expense example (continued)

**The Tax-Exempt Fund of California**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $1008.86 | $2.84 | .56% |
| Class A – assumed 5% return | 1000.00 | 1022.38 | 2.85 | .56 |
| Class C – actual return | 1000.00 | 1005.01 | 6.62 | 1.31 |
| Class C – assumed 5% return | 1000.00 | 1018.60 | 6.67 | 1.31 |
| Class T – actual return | 1000.00 | 1010.12 | 1.57 | .31 |
| Class T – assumed 5% return | 1000.00 | 1023.64 | 1.58 | .31 |
| Class F-1 – actual return | 1000.00 | 1008.39 | 3.29 | .65 |
| Class F-1 – assumed 5% return | 1000.00 | 1021.93 | 3.31 | .65 |
| Class F-2 – actual return | 1000.00 | 1009.77 | 1.92 | .38 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.29 | 1.94 | .38 |
| Class F-3 – actual return | 1000.00 | 1010.24 | 1.47 | .29 |
| Class F-3 – assumed 5% return | 1000.00 | 1023.74 | 1.48 | .29 |

---

**American Funds Tax-Exempt Fund of New York**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Beginning <br> account value <br> 8/1/2022** | **Ending <br> account value <br> 1/31/2023** | **Expenses paid <br> during period\*** | **Annualized <br> expense ratio** |
| Class A – actual return | $1000.00 | $1002.41 | $2.98 | .59% |
| Class A – assumed 5% return | 1000.00 | 1022.23 | 3.01 | .59 |
| Class C – actual return | 1000.00 | 998.61 | 6.75 | 1.34 |
| Class C – assumed 5% return | 1000.00 | 1018.45 | 6.82 | 1.34 |
| Class T – actual return | 1000.00 | 1003.83 | 1.62 | .32 |
| Class T – assumed 5% return | 1000.00 | 1023.59 | 1.63 | .32 |
| Class F-1 – actual return | 1000.00 | 1002.11 | 3.28 | .65 |
| Class F-1 – assumed 5% return | 1000.00 | 1021.93 | 3.31 | .65 |
| Class F-2 – actual return | 1000.00 | 1003.31 | 2.07 | .41 |
| Class F-2 – assumed 5% return | 1000.00 | 1023.14 | 2.09 | .41 |
| Class F-3 – actual return | 1000.00 | 1003.85 | 1.52 | .30 |
| Class F-3 – assumed 5% return | 1000.00 | 1023.69 | 1.53 | .30 |

---

\* The "expenses paid during period" are equal to the "annualized expense ratio," multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 365 (to reflect the one-half year period).

388 American Funds Tax-Exempt Funds

---

| | |
|:---|:---|
| Liquidity Risk Management Program | **unaudited** |

---

The funds have adopted a liquidity risk management program (the "program"). Each fund's board has designated Capital Research and Management Company ("CRMC") as the administrator of the program. Personnel of CRMC or its affiliates conduct the day-to-day operation of the program pursuant to policies and procedures administered by the Capital Group Liquidity Risk Management Committee.

Under the program, CRMC manages each fund's liquidity risk, which is the risk that the fund could not meet shareholder redemption requests without significant dilution of remaining shareholders' interests in the fund. This risk is managed by monitoring the degree of liquidity of each fund's investments, limiting the amount of each fund's illiquid investments, and utilizing various risk management tools and facilities available to each fund for meeting shareholder redemptions, among other means. CRMC's process of determining the degree of liquidity of each fund's investments is supported by one or more third-party liquidity assessment vendors.

Each fund's board reviewed a report prepared by CRMC regarding the operation and effectiveness of the program for the period October 1, 2021, through September 30, 2022. No significant liquidity events impacting any of the funds were noted in the report. In addition, CRMC provided its assessment that the program had been effective in managing each fund's liquidity risk.

American Funds Tax-Exempt Funds 389

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390 American Funds Tax-Exempt Funds

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American Funds Tax-Exempt Funds 391

**Offices of the funds**

STEX, LTEX, TEBF, AHIM, TEFCA<br> 333 South Hope Street<br> Los Angeles, CA 90071-1406

TEFNY

6455 Irvine Center Drive<br> Irvine, CA 92618-4518

**Investment adviser**

Capital Research and Management Company<br> 333 South Hope Street<br> Los Angeles, CA 90071-1406

**Transfer agent for shareholder accounts**

American Funds Service Company<br> (Write to the address nearest you.)

P.O. Box 6007<br> Indianapolis, IN 46206-6007

P.O. Box 2280<br> Norfolk, VA 23501-2280

**Counsel**

Morgan, Lewis & Bockius LLP<br> One Federal Street<br> Boston, MA 02110-1726

**Custodians of assets**

STEX, LTEX, TEBF, AHIM, TEFCA<br> JPMorgan Chase Bank<br> 270 Park Avenue<br> New York, NY 10017-2070

TEFNY

State Street Bank and Trust Company<br> One Lincoln Street<br> Boston, MA 02111-2900

**Independent registered public accounting firm**

PricewaterhouseCoopers LLP<br> 601 South Figueroa Street<br> Los Angeles, CA 90017-3874

**Principal underwriter**

American Funds Distributors, Inc.<br> 333 South Hope Street<br> Los Angeles, CA 90071-1406

392 American Funds Tax-Exempt Funds

**Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the funds' prospectus and summary prospectuses, 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.**

"American Funds Proxy Voting Procedures and Principles" — which describes how we vote proxies relating to portfolio securities — is available on our website or upon request by calling AFS. Each fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on our website.

Each fund files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. The list of portfolio holdings is available free of charge on the SEC website and on our website.

This report is for the information of shareholders of American Funds Short-Term Tax-Exempt Bond Fund, Limited Term Tax-Exempt Bond Fund of America, The Tax-Exempt Bond Fund of America, American High-Income Municipal Bond Fund, The Tax-Exempt Fund of California and American Funds Tax-Exempt Fund of New York, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the funds. If used as sales material after March 31, 2023, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.

BLOOMBERG<sup>®</sup> is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

American Funds Distributors, Inc., member FINRA.

The Capital Advantage<sup>®</sup>

Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital System<sup>SM</sup> — has resulted in superior outcomes.

**Aligned with investor success**

We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 27 years of investment industry experience, including 21 years at our company, reflecting a career commitment to our long-term approach.<sup>1</sup>

**The Capital System**

The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system.

**American Funds' superior outcomes**

Equity funds have beaten their Lipper peer indexes in 90% of 10-year periods and 99% of 20-year periods.<sup>2</sup> Fixed income funds have helped investors achieve diversification through attention to correlation between bonds and equities.<sup>3</sup> Fund management fees have been among the lowest in the industry.<sup>4</sup>

<sup>1</sup> Investment industry experience as of December 31, 2021.

<sup>2</sup> Based on Class F-2 share results for rolling calendar-year periods starting the first full calendar year after each fund's inception through December 31, 2021. Periods covered are the shorter of the fund's lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). Expenses differ for each share class, so results will vary.

<sup>3</sup> Based on Class F-2 share results as of December 31, 2021. Thirteen of the 17 fixed income American Funds that have been in existence for the three-year period showed a three-year correlation below 0.3. S&P 500 Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in "lockstep," in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction.

<sup>4</sup> On average, our management fees were in the lowest quintile 63% of the time, based on the 20-year period ended December 31, 2021, versus comparable Lipper categories, excluding funds of funds.

Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Results for certain funds with an inception date after August 1, 2008, also include hypothetical returns because those funds' Class F-2 shares sold after the funds' date of first offering. Visit **capitalgroup.com** for more information on specific expense adjustments and the actual dates of first sale.

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.

![](image_009.jpg)

ITEM 2 – Code of Ethics

Not applicable for filing of semi-annual reports to shareholders.

ITEM 3 – Audit Committee Financial Expert

Not applicable for filing of semi-annual reports to shareholders.

ITEM 4 – Principal Accountant Fees and Services

Not applicable for filing of semi-annual reports to shareholders.

ITEM 5 – Audit Committee of Listed Registrants

Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.

ITEM 6 – Schedule of Investments

Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.

ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

ITEM 10 – Submission of Matters to a Vote of Security Holders

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ''interested persons'' of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board's composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant's Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

ITEM 11 – Controls and Procedures

(a) The Registrant's Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant's disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

(b) There were no changes in the Registrant's internal
 controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant's
 semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's
 internal control over financial reporting.

ITEM 12 – Exhibits

---

| | |
|:---|:---|
| (a)(1) | Not applicable for filing of semi-annual reports to shareholders. |
| (a)(2) | The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections [302](tebf_cert302.htm) and [906](tebf_cert906.htm) of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto. |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| |
|:---|
| THE TAX-EXEMPT BOND FUND OF AMERICA |
| By <u>__/s/ Kristine M. Nishiyama</u>____________________ |
| &nbsp;&nbsp;&nbsp;&nbsp; Kristine M. Nishiyama,<br> Principal Executive Officer |
| Date: March 31, 2023 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| |
|:---|
| By <u>__/s/ Kristine M. Nishiyama</u>_________ |
| &nbsp;&nbsp;&nbsp;&nbsp; Kristine M. Nishiyama,<br> Principal Executive Officer |
| Date: March 31, 2023 |

---

---

| |
|:---|
| By __<u>_/s/ Brian C. Janssen</u>__________ |
| &nbsp;&nbsp;&nbsp;&nbsp; Brian C. Janssen, Treasurer and<br> Principal Financial Officer |
| Date: March 31, 2023 |

---

## Ex-99.Cert

<br>**The Tax-Exempt Bond Fund of America**<br> 333 South Hope Street, 55th Floor<br> Los Angeles, California 90071<br> (949) 975-5000<br>

**CERTIFICATION**

I, **Kristine M. Nishiyama,** certify that:

---

| | |
|:---|:---|
| 1. | I have reviewed this report on Form N-CSR of **The Tax-Exempt Bond Fund of America;** |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
|  | a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|  | b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|  | c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 180 days prior to the filing date of this report based on such evaluation; and |
|  | d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
| 5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions): |
|  | a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
|  | b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |

---

Date: March 31, 2023

_<u>__/s/ Kristine M. Nishiyama</u>_____________________

Kristine M. Nishiyama,

Principal Executive Officer

The Tax-Exempt Bond Fund of America

<br>**The Tax-Exempt Bond Fund of America**<br> 333 South Hope Street, 55th Floor<br> Los Angeles, California 90071<br> (949) 975-5000<br>

**CERTIFICATION**

I, **Brian C. Janssen**, certify that:

---

| | |
|:---|:---|
| 1. | I have reviewed this report on Form N-CSR of **The Tax-Exempt Bond Fund of America;** |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
|  | a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|  | b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|  | c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 180 days prior to the filing date of this report based on such evaluation; and |
|  | d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
| 5. | The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's Board of Trustees (or persons performing the equivalent functions): |
|  | a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and |
|  | b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |

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Date: March 31, 2023

_<u>_/s/ Brian C. Janssen</u>____________

Brian C. Janssen, Treasurer and

Principal Financial Officer

The Tax-Exempt Bond Fund of America

## Exhibit 99.906

<br>**The Tax-Exempt Bond Fund of America**<br> 333 South Hope Street, 55th Floor<br> Los Angeles, California 90071<br> (949) 975-5000<br>

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

KRISTINE M. NISHIYAMA, Principal Executive Officer, and BRIAN C. JANSSEN, Treasurer and Principal Financial Officer of The Tax-Exempt Bond Fund of America (the "Registrant"), each certify to the best of her or his knowledge that:

1) The Registrant's periodic report on Form N-CSR for the period ended January 31, 2023 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2) The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

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| | |
|:---|:---|
| Principal Executive Officer | Principal Financial Officer |
| THE TAX-EXEMPT BOND FUND OF AMERICA | THE TAX-EXEMPT BOND FUND OF AMERICA |
| _<u>__/s/ Kristine M. Nishiyama</u>____________ | <u>_/s/ Brian C. Janssen</u>____________ |
| Kristine M. Nishiyama, Principal Executive Officer | Brian C. Janssen, Treasurer |
| Date: March 31, 2023 | Date: March 31, 2023 |

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A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to THE TAX-EXEMPT BOND FUND OF AMERICA and will be retained by THE TAX-EXEMPT BOND FUND OF AMERICA and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSR filed with the Commission.