# EDGAR Filing Document

**Accession Number:** 0000004568
**File Stem:** 0001145549-25-057817
**Filing Date:** 2025-9
**Character Count:** 573095
**Document Hash:** be233925c2aac4b85f36801c8e58641d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-057817.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001145549-25-057817

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 56

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**EFFECTIVENESS DATE**: 20250905

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN BALANCED FUND
- **CENTRAL INDEX KEY:** 0000004568

**ORGANIZATION NAME:**
- **EIN:** 946050854
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00066
- **FILM NUMBER:** 251295690

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** 213-486-9501

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN BALANCED FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EXPRESS INVESTMENT FUND INC
- **DATE OF NAME CHANGE:** 19750729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMMONWEALTH INVESTMENT CO
- **DATE OF NAME CHANGE:** 19710203

## Series and Classes Contracts Data

### AMERICAN BALANCED FUND (Series ID: S000008801)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000023937 | Class A       | ABALX           |
| C000023938 | Class R-1     | RLBAX           |
| C000023939 | Class R-2     | RLBBX           |
| C000023940 | Class R-3     | RLBCX           |
| C000023941 | Class R-4     | RLBEX           |
| C000023942 | Class R-5     | RLBFX           |
| C000023944 | Class C       | BALCX           |
| C000023945 | Class F-1     | BALFX           |
| C000023946 | Class 529-A   | CLBAX           |
| C000023948 | Class 529-C   | CLBCX           |
| C000023949 | Class 529-E   | CLBEX           |
| C000023950 | Class 529-F-1 | CLBFX           |
| C000068555 | Class F-2     | AMBFX           |
| C000077860 | Class R-6     | RLBGX           |
| C000148414 | Class R-2E    | RAMHX           |
| C000164818 | Class R-5E    | RLEFX           |
| C000180007 | Class F-3     | AFMBX           |
| C000189521 | Class 529-T   | TAFBX           |
| C000189522 | Class T       | TABFX           |
| C000224633 | Class 529-F-2 | FBAFX           |
| C000224634 | Class 529-F-3 | FBONX           |

?xml version='1.0' encoding='ASCII'? 8dde4f026485339

#### 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

#### 811-00066

#### American Balanced Fund
(Exact name of registrant as specified in charter)

------

6455 Irvine Center Drive

Irvine, California 92618

(Address of principal executive offices)

Hong T. Le

6455 Irvine Center Drive

Irvine, California 92618

(Name and address of agent for service)

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

#### Date of fiscal year end:

#### December 31

#### Date of reporting period:

#### June 30, 2025
ITEM 1 - Reports to Stockholders

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class A \| ABALX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-A</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$29 | 0.56%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class A](images_2119.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFAASRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class C \| BALCX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-C</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$67 | 1.31%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class C](images_2118.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFCCSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class T \| TABFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class T | &nbsp;&nbsp;$15 | 0.30%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class A](images_2119.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFTTSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class F-1 \| BALFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-F1</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-1 | &nbsp;&nbsp;$32 | 0.62%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class F1](images_2117.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF1SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class F-2 \| AMBFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-F2</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-2 | &nbsp;&nbsp;$19 | 0.36%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class F2](images_2116.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF2SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class F-3 \| AFMBX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-F3</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-3 | &nbsp;&nbsp;$13 | 0.25%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class F3](images_2115.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFF3SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-A \| CLBAX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-529A</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$30 | 0.59%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529A](images_2106.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5ASRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-C \| CLBCX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-529C</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$70 | 1.35%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529C](images_2105.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5CSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-E \| CLBEX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-529E</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$42 | 0.82%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529E](images_2104.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5ESRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-T \| TAFBX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$19 | 0.36%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class A](images_2119.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5TSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-F-1 \| CLBFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-529F1</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$22 | 0.43%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F1](images_2103.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5FSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-F-2 \| FBAFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-529F2</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$18 | 0.34%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F2](images_2102.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5XSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class 529-F-3 \| FBONX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-529F3. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$15 | 0.30%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class 529F3](images_2101.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF5YSRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-1 \| RLBAX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-R1</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-1 | &nbsp;&nbsp;$68 | 1.33%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R1](images_2114.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR1SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-2 \| RLBBX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at <u>capitalgroup.com/mutual-fund-literature-R2</u>. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-2 | &nbsp;&nbsp;$68 | 1.33%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R2](images_2113.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR2SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-2E \| RAMHX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R2E. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-2E | &nbsp;&nbsp;$54 | 1.04%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R2E](images_2111.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MF2ESRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-3 \| RLBCX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R3. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-3 | &nbsp;&nbsp;$46 | 0.89%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R3](images_2112.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR3SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-4 \| RLBEX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R4. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-4 | &nbsp;&nbsp;$31 | 0.60%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R4](images_2110.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR4SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-5E \| RLEFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R5E. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-5E | &nbsp;&nbsp;$21 | 0.40%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R5E](images_2108.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFE5SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-5 \| RLBFX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R5. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-5 | &nbsp;&nbsp;$15 | 0.30%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R5](images_2109.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR5SRX-011-0825© 2025 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2094.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## American Balanced Fund <sup>®</sup>
**Class R-6 \| RLBGX** for the six months ended June 30, 2025

This semi-annual shareholder report contains important information about American Balanced Fund (the "fund") for the period from January 1, 2025 to June 30, 2025. You can find additional information about the fund at capitalgroup.com/mutual-fund-literature-R6. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-6 | &nbsp;&nbsp;$13 | 0.25%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $251091 |
| Total number of portfolio holdings | 3905 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 61% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 27% |

---

**Portfolio holdings by asset type** (percent of net assets)

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds_Class R6](images_2107.jpg)

Scan the QR code to view additional information about the fund, including its prospectus, financial information, holdings and information on proxy voting. Or refer to the web address included at the beginning of this report.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. MFR6SRX-011-0825© 2025 Capital Group. All rights reserved.

------

#### 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 - Investments
The schedule of investments is included as part of the material filed under Item 7 of this Form.

------

#### ITEM 7 - Financial Statements and Financial Highlights for Open-End Management Investment Companies

------

![](imgd0395d851.jpg)

**American Balanced Fund**<sup>®</sup>

Financial Statements and Other Information

N-CSR Items 7-11

for the six months ended June 30, 2025

Lit. No. MFGEFP2-011-0825© 2025 Capital Group. All rights reserved.

------

Investment portfolio June 30, 2025unaudited

------

---

| | | |
|:---|:---|:---|
| Common stocks 64.07% | Shares | Value<br> (000)<br>|
| **Information technology 17.49%** | **Information technology 17.49%** | **Information technology 17.49%** |
| Broadcom, Inc.  | 43313907 | $11939478 |
| Microsoft Corp.  | 18191293 | 9048531 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 23778008 | 5385481 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 2657000 | 96413 |
| NVIDIA Corp.  | 25865165 | 4086437 |
| Apple, Inc.  | 12358934 | 2535682 |
| Micron Technology, Inc.  | 19158813 | 2361324 |
| SK hynix, Inc.  | 8365421 | 1809946 |
| ASML Holding NV (ADR)  | 1294264 | 1037210 |
| ASML Holding NV  | 419984 | 335223 |
| KLA Corp.  | 1415627 | 1268034 |
| International Business Machines Corp.  | 2859169 | 842826 |
| Salesforce, Inc.  | 2878521 | 784944 |
| Intel Corp.  | 31671119 | 709433 |
| Applied Materials, Inc.  | 2094386 | 383419 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 2745685 | 316715 |
| Oracle Corp.  | 1223132 | 267413 |
| Adobe, Inc. <sup>(a)</sup>  | 593662 | 229676 |
| TE Connectivity Public, Ltd. Co.  | 1000000 | 168670 |
| Accenture PLC, Class A  | 521753 | 155947 |
| Texas Instruments, Inc.  | 648358 | 134612 |
| Advanced Micro Devices, Inc. <sup>(a)</sup>  | 153939 | 21844 |
|  |  | 43919258 |
| **Financials 8.85%** | **Financials 8.85%** | **Financials 8.85%** |
| JPMorgan Chase & Co.  | 8958023 | 2597020 |
| Mastercard, Inc., Class A  | 4395400 | 2469951 |
| Visa, Inc., Class A  | 5785354 | 2054090 |
| Synchrony Financial <sup>(b)</sup>  | 20737712 | 1384035 |
| Capital One Financial Corp.  | 5750743 | 1223528 |
| Aon PLC, Class A  | 3112470 | 1110405 |
| Arthur J. Gallagher & Co.  | 3061441 | 980029 |
| Fiserv, Inc. <sup>(a)</sup>  | 5392262 | 929680 |
| Chubb, Ltd.  | 2794830 | 809718 |
| Bank of America Corp.  | 16218126 | 767442 |
| Brookfield Corp., Class A  | 10924548 | 675683 |
| Apollo Asset Management, Inc.  | 4693552 | 665874 |
| Blackstone, Inc.  | 3980183 | 595356 |
| Blue Owl Capital, Inc., Class A  | 30252322 | 581147 |
| Progressive Corp.  | 2170158 | 579128 |
| Marsh & McLennan Cos., Inc.  | 2022645 | 442231 |
| PNC Financial Services Group, Inc.  | 2201341 | 410374 |
| KKR & Co., Inc.  | 3031428 | 403271 |
| Citigroup, Inc.  | 4600000 | 391552 |
| HDFC Bank, Ltd.  | 16751459 | 390952 |
| American Express Co.  | 1085029 | 346103 |
| BlackRock, Inc.  | 318394 | 334075 |
| East West Bancorp, Inc.  | 2649647 | 267561 |
| Morgan Stanley  | 1843572 | 259686 |
| Wells Fargo & Co.  | 2909400 | 233101 |
| Brown & Brown, Inc.  | 2076140 | 230182 |
| Fifth Third Bancorp  | 4737000 | 194833 |
| Goldman Sachs Group, Inc.  | 275000 | 194631 |
| Truist Financial Corp.  | 4175699 | 179513 |
| Sampo OYJ, Class A  | 14184224 | 152547 |
| CME Group, Inc., Class A  | 543000 | 149662 |
| S&P Global, Inc.  | 218432 | 115177 |
| CaixaBank SA, non-registered shares  | 12246769 | 106089 |
|  |  | 22224626 |

---

---

| | |
|:---|:---|
| **1** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials 7.73%** | **Industrials 7.73%** | **Industrials 7.73%** |
| TransDigm Group, Inc.  | 1458279 | $2217517 |
| General Electric Co.  | 7359004 | 1894134 |
| Ingersoll-Rand, Inc.  | 13125249 | 1091758 |
| Rolls-Royce Holdings PLC  | 71850601 | 954303 |
| Boeing Co. (The) <sup>(a)</sup>  | 4351946 | 911863 |
| Northrop Grumman Corp.  | 1694207 | 847070 |
| Carrier Global Corp.  | 11104310 | 812725 |
| Quanta Services, Inc.  | 2125416 | 803577 |
| RTX Corp.  | 5456143 | 796706 |
| United Rentals, Inc.  | 1038936 | 782734 |
| GE Vernova, Inc.  | 1364781 | 722174 |
| L3Harris Technologies, Inc.  | 2460545 | 617203 |
| Parker-Hannifin Corp.  | 808464 | 564688 |
| Honeywell International, Inc.  | 2413708 | 562104 |
| Deere & Co.  | 987492 | 502130 |
| Union Pacific Corp.  | 1904230 | 438125 |
| AMETEK, Inc.  | 2221470 | 401997 |
| Caterpillar, Inc.  | 1000000 | 388210 |
| Airbus SE, non-registered shares  | 1691941 | 353283 |
| Equifax, Inc.  | 1286896 | 333782 |
| United Airlines Holdings, Inc. <sup>(a)</sup>  | 3990267 | 317745 |
| Paychex, Inc.  | 2135550 | 310637 |
| Dayforce, Inc. <sup>(a)</sup>  | 4951419 | 274259 |
| FTAI Aviation, Ltd.  | 2375617 | 273291 |
| Republic Services, Inc.  | 1035104 | 255267 |
| Delta Air Lines, Inc.  | 5000000 | 245900 |
| CSX Corp.  | 7209374 | 235242 |
| Lennox International, Inc.  | 358675 | 205607 |
| Norfolk Southern Corp.  | 792952 | 202972 |
| ATI, Inc. <sup>(a)</sup>  | 2270000 | 195992 |
| Johnson Controls International PLC  | 1550000 | 163711 |
| Lockheed Martin Corp.  | 305000 | 141258 |
| Southwest Airlines Co. <sup>(c)</sup>  | 3933208 | 127593 |
| FedEx Corp.  | 525335 | 119414 |
| United Parcel Service, Inc., Class B  | 904000 | 91250 |
| Waste Connections, Inc.  | 415398 | 77563 |
| Eaton Corp. PLC  | 186259 | 66493 |
| Deutsche Post AG  | 1317853 | 60868 |
| Watsco, Inc.  | 123577 | 54574 |
|  |  | 19415719 |
| **Communication services 6.57%** | **Communication services 6.57%** | **Communication services 6.57%** |
| Alphabet, Inc., Class C  | 22239795 | 3945117 |
| Alphabet, Inc., Class A  | 12437895 | 2191930 |
| Meta Platforms, Inc., Class A  | 6792563 | 5013523 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 3213954 | 1313897 |
| Netflix, Inc. <sup>(a)</sup>  | 866324 | 1160120 |
| Comcast Corp., Class A  | 26132986 | 932686 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 4638959 | 488019 |
| T-Mobile US, Inc.  | 1883669 | 448803 |
| Walt Disney Co. (The)  | 3000000 | 372030 |
| AT&T, Inc.  | 9887394 | 286141 |
| Electronic Arts, Inc.  | 1462736 | 233599 |
| Take-Two Interactive Software, Inc. <sup>(a)</sup>  | 458797 | 111419 |
|  |  | 16497284 |
| **Health care 6.07%** | **Health care 6.07%** | **Health care 6.07%** |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 4925687 | 2192916 |
| Eli Lilly and Co.  | 2682524 | 2091108 |
| UnitedHealth Group, Inc.  | 6530911 | 2037448 |
| Amgen, Inc.  | 4719168 | 1317639 |
| CVS Health Corp.  | 18347347 | 1265600 |
| Abbott Laboratories  | 8681150 | 1180723 |
| Gilead Sciences, Inc.  | 9877878 | 1095160 |
| AstraZeneca PLC  | 4469892 | 620922 |

---

American Balanced Fund<sub>2</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| Bristol-Myers Squibb Co.  | 11006468 | $509489 |
| Thermo Fisher Scientific, Inc.  | 1134686 | 460070 |
| AbbVie, Inc.  | 1962171 | 364218 |
| Danaher Corp.  | 1743401 | 344391 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 1119283 | 333434 |
| Cigna Group (The)  | 941627 | 311283 |
| Illumina, Inc. <sup>(a)</sup>  | 2225886 | 212372 |
| Elevance Health, Inc.  | 496712 | 193201 |
| Novo Nordisk AS, Class B (ADR)  | 2185000 | 150809 |
| EssilorLuxottica SA  | 432561 | 118671 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 1634000 | 116275 |
| Royalty Pharma PLC, Class A  | 2966998 | 106901 |
| Medtronic PLC  | 975000 | 84991 |
| Align Technology, Inc. <sup>(a)</sup>  | 307039 | 58132 |
| Regeneron Pharmaceuticals, Inc.  | 105342 | 55305 |
| Centene Corp. <sup>(a)</sup>  | 566168 | 30732 |
|  |  | 15251790 |
| **Consumer staples 5.48%** | **Consumer staples 5.48%** | **Consumer staples 5.48%** |
| Philip Morris International, Inc.  | 34431767 | 6271058 |
| British American Tobacco PLC  | 37765556 | 1795181 |
| British American Tobacco PLC (ADR)  | 10954538 | 518478 |
| Keurig Dr Pepper, Inc.  | 32330286 | 1068839 |
| Constellation Brands, Inc., Class A  | 4969554 | 808447 |
| Nestle SA  | 6256360 | 621575 |
| US Foods Holding Corp. <sup>(a)</sup>  | 7453207 | 573972 |
| Hershey Co.  | 2531584 | 420116 |
| Altria Group, Inc.  | 4964472 | 291067 |
| Mondelez International, Inc., Class A  | 3595730 | 242496 |
| Procter & Gamble Co.  | 1496864 | 238480 |
| Dollar Tree Stores, Inc. <sup>(a)</sup>  | 1736249 | 171958 |
| Church & Dwight Co., Inc.  | 1525759 | 146641 |
| Estee Lauder Cos., Inc. (The), Class A  | 1742659 | 140807 |
| Dollar General Corp.  | 1060609 | 121313 |
| Target Corp.  | 1189429 | 117337 |
| Pernod Ricard SA  | 1005786 | 100231 |
| General Mills, Inc.  | 1922252 | 99592 |
|  |  | 13747588 |
| **Consumer discretionary 4.44%** | **Consumer discretionary 4.44%** | **Consumer discretionary 4.44%** |
| Amazon.com, Inc. <sup>(a)</sup>  | 16602042 | 3642322 |
| Home Depot, Inc.  | 3637190 | 1333539 |
| Starbucks Corp.  | 13190197 | 1208618 |
| NIKE, Inc., Class B  | 11296033 | 802470 |
| Booking Holdings, Inc.  | 115161 | 666695 |
| Aramark <sup>(b)</sup>  | 14370578 | 601696 |
| Darden Restaurants, Inc.  | 2663352 | 580531 |
| Royal Caribbean Cruises, Ltd.  | 1693000 | 530146 |
| TJX Companies, Inc. (The)  | 2923198 | 360986 |
| Restaurant Brands International, Inc.  | 4511323 | 299056 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(a)</sup>  | 14081096 | 285565 |
| D.R. Horton, Inc.  | 1530391 | 197298 |
| Tractor Supply Co.  | 3500000 | 184695 |
| Compagnie Financiere Richemont SA, Class A  | 886941 | 167059 |
| Hilton Worldwide Holdings, Inc.  | 536000 | 142758 |
| Vail Resorts, Inc.  | 874413 | 137396 |
|  |  | 11140830 |
| **Energy 2.47%** | **Energy 2.47%** | **Energy 2.47%** |
| Chevron Corp.  | 8692139 | 1244627 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 39331206 | 1236186 |
| EOG Resources, Inc.  | 8320627 | 995230 |
| Baker Hughes Co., Class A  | 18907506 | 724914 |
| Cenovus Energy, Inc. (CAD denominated)  | 42409745 | 577090 |

---

---

| | |
|:---|:---|
| **3** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy (continued)** | **Energy (continued)** | **Energy (continued)** |
| Exxon Mobil Corp.  | 4453756 | $480115 |
| Shell PLC (GBP denominated)  | 5987204 | 209855 |
| Diamondback Energy, Inc.  | 1500000 | 206100 |
| Schlumberger NV  | 4561492 | 154178 |
| ConocoPhillips  | 1604453 | 143984 |
| Halliburton Co.  | 4980000 | 101492 |
| EQT Corp.  | 1141267 | 66559 |
| TC Energy Corp. (CAD denominated) <sup>(c)</sup>  | 1150737 | 56179 |
|  |  | 6196509 |
| **Materials 2.32%** | **Materials 2.32%** | **Materials 2.32%** |
| Wheaton Precious Metals Corp.  | 14733244 | 1323045 |
| Franco-Nevada Corp. (CAD denominated)  | 5321146 | 873618 |
| Royal Gold, Inc. <sup>(b)</sup>  | 4269700 | 759323 |
| Linde PLC  | 1523084 | 714601 |
| Air Products and Chemicals, Inc.  | 1334891 | 376519 |
| Corteva, Inc.  | 3882408 | 289356 |
| Grupo Mexico, SAB de CV, Series B  | 37571000 | 227574 |
| Freeport-McMoRan, Inc.  | 4500000 | 195075 |
| Albemarle Corp.  | 3000000 | 188010 |
| Glencore PLC  | 43710146 | 170156 |
| Nucor Corp.  | 1231716 | 159557 |
| Lundin Mining Corp.  | 14656184 | 154123 |
| LyondellBasell Industries NV  | 2460229 | 142349 |
| Rio Tinto PLC  | 2000000 | 116538 |
| Vale SA (ADR), ordinary nominative shares <sup>(c)</sup>  | 11220511 | 108951 |
| Dow, Inc.  | 1310865 | 34712 |
|  |  | 5833507 |
| **Utilities 1.64%** | **Utilities 1.64%** | **Utilities 1.64%** |
| Constellation Energy Corp.  | 5115876 | 1651200 |
| CenterPoint Energy, Inc.  | 23289036 | 855639 |
| Sempra  | 6876783 | 521054 |
| FirstEnergy Corp.  | 7617410 | 306677 |
| PG&E Corp.  | 21542434 | 300301 |
| DTE Energy Co.  | 1763905 | 233647 |
| Atmos Energy Corp.  | 1212301 | 186828 |
| Southern Co. (The)  | 575882 | 52883 |
|  |  | 4108229 |
| **Real estate 1.01%** | **Real estate 1.01%** | **Real estate 1.01%** |
| Welltower, Inc. REIT  | 6355229 | 976989 |
| VICI Properties, Inc. REIT  | 15599355 | 508539 |
| Extra Space Storage, Inc. REIT  | 2091180 | 308324 |
| American Tower Corp. REIT  | 1104972 | 244221 |
| Simon Property Group, Inc. REIT  | 1386409 | 222879 |
| Alexandria Real Estate Equities, Inc. REIT  | 1604333 | 116523 |
| Crown Castle, Inc. REIT  | 802672 | 82458 |
| Rexford Industrial Realty, Inc. REIT  | 2069500 | 73612 |
|  |  | 2533545 |
| **Total common stocks** (cost: $83,310,903,000) |  | 160868885 |
| Preferred securities 0.06% |  |  |
| **Information technology 0.06%** | **Information technology 0.06%** | **Information technology 0.06%** |
| MicroStrategy, Inc., Series A, 10.00% perpetual cumulative preferred shares  | 1345700 | 152266 |
| **Total preferred securities** (cost: $114,384,000) |  | 152266 |

---

American Balanced Fund<sub>4</sub>

------

---

| | | |
|:---|:---|:---|
| Convertible stocks 0.36% | Shares | Value<br> (000)<br>|
| **Industrials 0.20%** | **Industrials 0.20%** | **Industrials 0.20%** |
| Boeing Co., Series A, convertible preferred depositary shares, 6.00% 10/15/2027  | 7521221 | $511443 |
| **Information technology 0.08%** | **Information technology 0.08%** | **Information technology 0.08%** |
| Microchip Technology, Inc., Series A, cumulative convertible preferred depositary shares, 7.50% 3/15/2028  | 2916000 | 194322 |
| **Materials 0.05%** | **Materials 0.05%** | **Materials 0.05%** |
| Albemarle Corp., Class A, cumulative convertible preferred depositary shares, 7.25% 3/1/2027  | 3824692 | 122773 |
| **Utilities 0.03%** | **Utilities 0.03%** | **Utilities 0.03%** |
| PG&E Corp., Class A, convertible preferred shares, 6.00% 12/1/2027 <sup>(c)</sup>  | 1895300 | 71263 |
| **Total convertible stocks** (cost: $831,392,000) |  | 899801 |
| Bonds, notes & other debt instruments 29.79% | Principal amount<br> (000)<br>|  |
| **Mortgage-backed obligations 11.55%** | **Mortgage-backed obligations 11.55%** | **Mortgage-backed obligations 11.55%** |
| **Federal agency mortgage-backed obligations 9.46%** | **Federal agency mortgage-backed obligations 9.46%** | **Federal agency mortgage-backed obligations 9.46%** |
| Fannie Mae Pool #BE7150 3.50% 2/1/2032 <sup>(d)</sup>  | USD75 | 74 |
| Fannie Mae Pool #357399 5.50% 6/1/2033 <sup>(d)</sup>  | 40 | 41 |
| Fannie Mae Pool #AS0727 3.50% 10/1/2033 <sup>(d)</sup>  | 51 | 50 |
| Fannie Mae Pool #555880 5.50% 11/1/2033 <sup>(d)</sup>  | 469 | 481 |
| Fannie Mae Pool #555956 5.50% 12/1/2033 <sup>(d)</sup>  | 420 | 430 |
| Fannie Mae Pool #MA2138 3.50% 1/1/2035 <sup>(d)</sup>  | 103 | 101 |
| Fannie Mae Pool #FM2499 2.50% 2/1/2035 <sup>(d)</sup>  | 38375 | 36230 |
| Fannie Mae Pool #AA0914 5.00% 7/1/2035 <sup>(d)</sup>  | 120 | 121 |
| Fannie Mae Pool #745092 6.50% 7/1/2035 <sup>(d)</sup>  | 429 | 448 |
| Fannie Mae Pool #MA4361 2.50% 6/1/2036 <sup>(d)</sup>  | 1423 | 1333 |
| Fannie Mae Pool #887695 6.00% 6/1/2036 <sup>(d)</sup>  | 204 | 214 |
| Fannie Mae Pool #888292 6.00% 3/1/2037 <sup>(d)</sup>  | 1257 | 1318 |
| Fannie Mae Pool #BW0516 2.50% 5/1/2037 <sup>(d)</sup>  | 1497 | 1398 |
| Fannie Mae Pool #MA4628 2.50% 6/1/2037 <sup>(d)</sup>  | 4453 | 4160 |
| Fannie Mae Pool #MA4665 2.50% 7/1/2037 <sup>(d)</sup>  | 1374 | 1284 |
| Fannie Mae Pool #256860 6.50% 8/1/2037 <sup>(d)</sup>  | 198 | 207 |
| Fannie Mae Pool #888746 6.50% 10/1/2037 <sup>(d)</sup>  | 343 | 356 |
| Fannie Mae Pool #MA3280 3.50% 2/1/2038 <sup>(d)</sup>  | 83 | 80 |
| Fannie Mae Pool #889658 6.50% 6/1/2038 <sup>(d)</sup>  | 442 | 462 |
| Fannie Mae Pool #MA3412 3.50% 7/1/2038 <sup>(d)</sup>  | 206 | 199 |
| Fannie Mae Pool #MA3539 4.50% 12/1/2038 <sup>(d)</sup>  | 67 | 67 |
| Fannie Mae Pool #FM1441 3.50% 8/1/2039 <sup>(d)</sup>  | 324 | 312 |
| Fannie Mae Pool #AD0679 5.50% 10/1/2039 <sup>(d)</sup>  | 13 | 13 |
| Fannie Mae Pool #932752 5.00% 4/1/2040 <sup>(d)</sup>  | 237 | 240 |
| Fannie Mae Pool #AD8536 5.00% 8/1/2040 <sup>(d)</sup>  | 807 | 818 |
| Fannie Mae Pool #AE3049 4.50% 9/1/2040 <sup>(d)</sup>  | 1438 | 1434 |
| Fannie Mae Pool #AE2513 5.00% 9/1/2040 <sup>(d)</sup>  | 586 | 593 |
| Fannie Mae Pool #AE4689 5.00% 9/1/2040 <sup>(d)</sup>  | 234 | 236 |
| Fannie Mae Pool #AE0395 4.50% 10/1/2040 <sup>(d)</sup>  | 1817 | 1812 |
| Fannie Mae Pool #AE5471 4.50% 10/1/2040 <sup>(d)</sup>  | 1143 | 1140 |
| Fannie Mae Pool #AH3575 4.50% 1/1/2041 <sup>(d)</sup>  | 1961 | 1955 |
| Fannie Mae Pool #AH9370 5.00% 4/1/2041 <sup>(d)</sup>  | 240 | 243 |
| Fannie Mae Pool #AH9420 5.00% 4/1/2041 <sup>(d)</sup>  | 136 | 139 |
| Fannie Mae Pool #AI2503 4.00% 5/1/2041 <sup>(d)</sup>  | 1462 | 1412 |
| Fannie Mae Pool #AI0582 5.00% 5/1/2041 <sup>(d)</sup>  | 203 | 205 |
| Fannie Mae Pool #AH9938 5.00% 5/1/2041 <sup>(d)</sup>  | 138 | 139 |
| Fannie Mae Pool #AI1865 5.00% 5/1/2041 <sup>(d)</sup>  | 16 | 16 |
| Fannie Mae Pool #AI4289 5.00% 6/1/2041 <sup>(d)</sup>  | 190 | 193 |
| Fannie Mae Pool #AH5452 5.00% 6/1/2041 <sup>(d)</sup>  | 104 | 105 |
| Fannie Mae Pool #AI4296 5.00% 6/1/2041 <sup>(d)</sup>  | 53 | 53 |
| Fannie Mae Pool #AI4563 5.00% 6/1/2041 <sup>(d)</sup>  | 4 | 4 |
| Fannie Mae Pool #MA4387 2.00% 7/1/2041 <sup>(d)</sup>  | 25316 | 21847 |
| Fannie Mae Pool #AI5589 4.50% 7/1/2041 <sup>(d)</sup>  | 27 | 27 |
| Fannie Mae Pool #AI8121 5.00% 7/1/2041 <sup>(d)</sup>  | 546 | 553 |
| Fannie Mae Pool #AI7218 5.00% 7/1/2041 <sup>(d)</sup>  | 273 | 276 |
| Fannie Mae Pool #AI6576 5.00% 7/1/2041 <sup>(d)</sup>  | 68 | 68 |

---

---

| | |
|:---|:---|
| **5** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #MA0791 5.00% 7/1/2041 <sup>(d)</sup>  | USD65 | $66 |
| Fannie Mae Pool #AI7058 5.00% 7/1/2041 <sup>(d)</sup>  | 43 | 43 |
| Fannie Mae Pool #AI3894 5.00% 8/1/2041 <sup>(d)</sup>  | 221 | 221 |
| Fannie Mae Pool #AI7159 5.00% 9/1/2041 <sup>(d)</sup>  | 100 | 101 |
| Fannie Mae Pool #AJ1422 5.00% 9/1/2041 <sup>(d)</sup>  | 3 | 3 |
| Fannie Mae Pool #FS0305 1.50% 1/1/2042 <sup>(d)</sup>  | 96455 | 79751 |
| Fannie Mae Pool #AQ9302 3.50% 1/1/2043 <sup>(d)</sup>  | 418 | 393 |
| Fannie Mae Pool #AT7696 3.50% 6/1/2043 <sup>(d)</sup>  | 4054 | 3794 |
| Fannie Mae Pool #AT7689 3.50% 6/1/2043 <sup>(d)</sup>  | 1625 | 1524 |
| Fannie Mae Pool #AT7680 3.50% 6/1/2043 <sup>(d)</sup>  | 561 | 526 |
| Fannie Mae Pool #AU8813 4.00% 11/1/2043 <sup>(d)</sup>  | 185 | 179 |
| Fannie Mae Pool #AU9350 4.00% 11/1/2043 <sup>(d)</sup>  | 121 | 116 |
| Fannie Mae Pool #AU9348 4.00% 11/1/2043 <sup>(d)</sup>  | 119 | 114 |
| Fannie Mae Pool #AV1538 4.50% 11/1/2043 <sup>(d)</sup>  | 3329 | 3275 |
| Fannie Mae Pool #FM9416 3.50% 7/1/2045 <sup>(d)</sup>  | 62555 | 58115 |
| Fannie Mae Pool #AL8354 3.50% 10/1/2045 <sup>(d)</sup>  | 4313 | 4016 |
| Fannie Mae Pool #AL9499 3.50% 1/1/2046 <sup>(d)</sup>  | 4091 | 3802 |
| Fannie Mae Pool #AS6789 3.50% 3/1/2046 <sup>(d)</sup>  | 4263 | 3951 |
| Fannie Mae Pool #MA2608 3.00% 5/1/2046 <sup>(d)</sup>  | 995 | 884 |
| Fannie Mae Pool #AL8522 3.50% 5/1/2046 <sup>(d)</sup>  | 7244 | 6724 |
| Fannie Mae Pool #AS7168 3.50% 5/1/2046 <sup>(d)</sup>  | 2959 | 2733 |
| Fannie Mae Pool #BC7611 4.00% 5/1/2046 <sup>(d)</sup>  | 321 | 304 |
| Fannie Mae Pool #MA2771 3.00% 10/1/2046 <sup>(d)</sup>  | 922 | 819 |
| Fannie Mae Pool #BM5148 4.00% 10/1/2046 <sup>(d)</sup>  | 43336 | 41191 |
| Fannie Mae Pool #FM2795 3.00% 11/1/2046 <sup>(d)</sup>  | 2973 | 2643 |
| Fannie Mae Pool #AS8310 3.00% 11/1/2046 <sup>(d)</sup>  | 2317 | 2083 |
| Fannie Mae Pool #BD9665 4.00% 11/1/2046 <sup>(d)</sup>  | 777 | 737 |
| Fannie Mae Pool #BE3151 3.50% 1/1/2047 <sup>(d)</sup>  | 900 | 831 |
| Fannie Mae Pool #BE3162 3.50% 1/1/2047 <sup>(d)</sup>  | 776 | 715 |
| Fannie Mae Pool #CB3110 2.50% 3/1/2047 <sup>(d)</sup>  | 900 | 759 |
| Fannie Mae Pool #BE9242 4.50% 3/1/2047 <sup>(d)</sup>  | 20 | 19 |
| Fannie Mae Pool #FS3767 2.00% 4/1/2047 <sup>(d)</sup>  | 2032 | 1648 |
| Fannie Mae Pool #BM1179 3.00% 4/1/2047 <sup>(d)</sup>  | 2809 | 2522 |
| Fannie Mae Pool #BD7156 4.00% 4/1/2047 <sup>(d)</sup>  | 35862 | 33995 |
| Fannie Mae Pool #BM1653 4.00% 6/1/2047 <sup>(d)</sup>  | 73382 | 69567 |
| Fannie Mae Pool #BH7779 3.50% 8/1/2047 <sup>(d)</sup>  | 23 | 21 |
| Fannie Mae Pool #256893 7.00% 8/1/2047 <sup>(d)</sup>  | 6 | 7 |
| Fannie Mae Pool #BH4022 3.50% 9/1/2047 <sup>(d)</sup>  | 12845 | 11816 |
| Fannie Mae Pool #CA0453 4.00% 9/1/2047 <sup>(d)</sup>  | 16106 | 15255 |
| Fannie Mae Pool #BH6387 3.50% 10/1/2047 <sup>(d)</sup>  | 340 | 311 |
| Fannie Mae Pool #MA3149 4.00% 10/1/2047 <sup>(d)</sup>  | 10154 | 9619 |
| Fannie Mae Pool #CA0623 4.50% 10/1/2047 <sup>(d)</sup>  | 2170 | 2118 |
| Fannie Mae Pool #947661 6.50% 10/1/2047 <sup>(d)</sup>  | 7 | 7 |
| Fannie Mae Pool #256975 7.00% 10/1/2047 <sup>(d)</sup>  | 35 | 36 |
| Fannie Mae Pool #920015 7.00% 10/1/2047 <sup>(d)</sup>  | 15 | 16 |
| Fannie Mae Pool #CA0770 3.50% 11/1/2047 <sup>(d)</sup>  | 3738 | 3423 |
| Fannie Mae Pool #MA3183 4.00% 11/1/2047 <sup>(d)</sup>  | 2503 | 2371 |
| Fannie Mae Pool #BJ1515 4.00% 11/1/2047 <sup>(d)</sup>  | 2369 | 2246 |
| Fannie Mae Pool #257030 6.50% 11/1/2047 <sup>(d)</sup>  | 42 | 43 |
| Fannie Mae Pool #CA0854 3.50% 12/1/2047 <sup>(d)</sup>  | 5907 | 5426 |
| Fannie Mae Pool #BM4413 4.50% 12/1/2047 <sup>(d)</sup>  | 5172 | 5035 |
| Fannie Mae Pool #BM3332 3.50% 1/1/2048 <sup>(d)</sup>  | 1107 | 1017 |
| Fannie Mae Pool #BJ4342 4.00% 1/1/2048 <sup>(d)</sup>  | 220 | 208 |
| Fannie Mae Pool #CA1015 4.00% 1/1/2048 <sup>(d)</sup>  | 49 | 47 |
| Fannie Mae Pool #BJ8318 4.50% 1/1/2048 <sup>(d)</sup>  | 81 | 79 |
| Fannie Mae Pool #BK1198 4.00% 2/1/2048 <sup>(d)</sup>  | 1155 | 1093 |
| Fannie Mae Pool #MA3277 4.00% 2/1/2048 <sup>(d)</sup>  | 37 | 35 |
| Fannie Mae Pool #BK1135 4.50% 2/1/2048 <sup>(d)</sup>  | 351 | 342 |
| Fannie Mae Pool #BM3714 3.50% 3/1/2048 <sup>(d)</sup>  | 4226 | 3885 |
| Fannie Mae Pool #BJ6760 3.50% 3/1/2048 <sup>(d)</sup>  | 3184 | 2934 |
| Fannie Mae Pool #CA1532 3.50% 4/1/2048 <sup>(d)</sup>  | 7558 | 6929 |
| Fannie Mae Pool #CA1542 4.00% 4/1/2048 <sup>(d)</sup>  | 115 | 109 |
| Fannie Mae Pool #BJ9260 4.00% 4/1/2048 <sup>(d)</sup>  | 13 | 12 |
| Fannie Mae Pool #BM4033 3.50% 5/1/2048 <sup>(d)</sup>  | 16255 | 14931 |
| Fannie Mae Pool #BJ2751 4.50% 5/1/2048 <sup>(d)</sup>  | 4413 | 4294 |
| Fannie Mae Pool #BW9776 3.00% 6/1/2048 <sup>(d)</sup>  | 98 | 85 |

---

American Balanced Fund<sub>6</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #BJ5829 4.50% 6/1/2048 <sup>(d)</sup>  | USD50 | $48 |
| Fannie Mae Pool #BF0293 3.00% 7/1/2048 <sup>(d)</sup>  | 52112 | 46244 |
| Fannie Mae Pool #BF0318 3.50% 8/1/2048 <sup>(d)</sup>  | 21928 | 20007 |
| Fannie Mae Pool #BM2007 4.00% 9/1/2048 <sup>(d)</sup>  | 387 | 367 |
| Fannie Mae Pool #FM1784 4.00% 9/1/2048 <sup>(d)</sup>  | 157 | 148 |
| Fannie Mae Pool #BF0323 3.00% 11/1/2048 <sup>(d)</sup>  | 23093 | 20493 |
| Fannie Mae Pool #BF0325 3.50% 11/1/2048 <sup>(d)</sup>  | 29379 | 26806 |
| Fannie Mae Pool #CA2642 4.50% 11/1/2048 <sup>(d)</sup>  | 157 | 153 |
| Fannie Mae Pool #CA3068 3.50% 2/1/2049 <sup>(d)</sup>  | 4653 | 4274 |
| Fannie Mae Pool #CA3184 4.00% 3/1/2049 <sup>(d)</sup>  | 226 | 214 |
| Fannie Mae Pool #FM3280 3.50% 5/1/2049 <sup>(d)</sup>  | 16188 | 15051 |
| Fannie Mae Pool #CA3503 4.00% 5/1/2049 <sup>(d)</sup>  | 4 | 4 |
| Fannie Mae Pool #CA3807 3.00% 7/1/2049 <sup>(d)</sup>  | 3964 | 3527 |
| Fannie Mae Pool #CA3806 3.00% 7/1/2049 <sup>(d)</sup>  | 2643 | 2356 |
| Fannie Mae Pool #CA3814 3.50% 7/1/2049 <sup>(d)</sup>  | 717 | 663 |
| Fannie Mae Pool #CA4079 3.50% 8/1/2049 <sup>(d)</sup>  | 15827 | 14430 |
| Fannie Mae Pool #BO1345 3.50% 8/1/2049 <sup>(d)</sup>  | 25 | 23 |
| Fannie Mae Pool #CA3976 4.00% 8/1/2049 <sup>(d)</sup>  | 1200 | 1133 |
| Fannie Mae Pool #FM1668 4.00% 8/1/2049 <sup>(d)</sup>  | 133 | 126 |
| Fannie Mae Pool #FM2318 3.50% 9/1/2049 <sup>(d)</sup>  | 19221 | 17634 |
| Fannie Mae Pool #CA4112 3.50% 9/1/2049 <sup>(d)</sup>  | 793 | 733 |
| Fannie Mae Pool #FM1913 4.00% 9/1/2049 <sup>(d)</sup>  | 2658 | 2518 |
| Fannie Mae Pool #CA4432 4.00% 10/1/2049 <sup>(d)</sup>  | 138 | 130 |
| Fannie Mae Pool #CA4533 3.00% 11/1/2049 <sup>(d)</sup>  | 28451 | 25316 |
| Fannie Mae Pool #CA4756 3.00% 12/1/2049 <sup>(d)</sup>  | 15255 | 13539 |
| Fannie Mae Pool #BO4808 3.00% 12/1/2049 <sup>(d)</sup>  | 11540 | 10179 |
| Fannie Mae Pool #CA4800 3.50% 12/1/2049 <sup>(d)</sup>  | 43388 | 39966 |
| Fannie Mae Pool #FM4883 2.50% 3/1/2050 <sup>(d)</sup>  | 1102 | 916 |
| Fannie Mae Pool #BN7443 2.50% 3/1/2050 <sup>(d)</sup>  | 776 | 652 |
| Fannie Mae Pool #CA5659 2.50% 5/1/2050 <sup>(d)</sup>  | 13313 | 11074 |
| Fannie Mae Pool #BP5843 2.50% 5/1/2050 <sup>(d)</sup>  | 73 | 61 |
| Fannie Mae Pool #CA5968 2.50% 6/1/2050 <sup>(d)</sup>  | 38981 | 32869 |
| Fannie Mae Pool #BP5576 2.50% 6/1/2050 <sup>(d)</sup>  | 3519 | 2927 |
| Fannie Mae Pool #CA6087 3.00% 6/1/2050 <sup>(d)</sup>  | 39749 | 34610 |
| Fannie Mae Pool #BP8762 2.50% 7/1/2050 <sup>(d)</sup>  | 2980 | 2479 |
| Fannie Mae Pool #BP6439 2.50% 7/1/2050 <sup>(d)</sup>  | 2629 | 2187 |
| Fannie Mae Pool #CA6289 2.50% 7/1/2050 <sup>(d)</sup>  | 503 | 420 |
| Fannie Mae Pool #CA6349 3.00% 7/1/2050 <sup>(d)</sup>  | 5321 | 4631 |
| Fannie Mae Pool #CA6579 2.00% 8/1/2050 <sup>(d)</sup>  | 39313 | 31594 |
| Fannie Mae Pool #FS3745 2.00% 8/1/2050 <sup>(d)</sup>  | 16768 | 13401 |
| Fannie Mae Pool #CA6593 2.50% 8/1/2050 <sup>(d)</sup>  | 34010 | 28705 |
| Fannie Mae Pool #FP0058 2.50% 8/1/2050 <sup>(d)</sup>  | 9115 | 7580 |
| Fannie Mae Pool #CA6918 2.50% 8/1/2050 <sup>(d)</sup>  | 8519 | 7086 |
| Fannie Mae Pool #CA6603 2.50% 8/1/2050 <sup>(d)</sup>  | 6920 | 5756 |
| Fannie Mae Pool #MA4096 2.50% 8/1/2050 <sup>(d)</sup>  | 2443 | 2052 |
| Fannie Mae Pool #CA6727 2.50% 8/1/2050 <sup>(d)</sup>  | 1958 | 1630 |
| Fannie Mae Pool #FM4021 2.50% 8/1/2050 <sup>(d)</sup>  | 725 | 603 |
| Fannie Mae Pool #CA6740 3.00% 8/1/2050 <sup>(d)</sup>  | 3022 | 2630 |
| Fannie Mae Pool #MA4119 2.00% 9/1/2050 <sup>(d)</sup>  | 81298 | 64758 |
| Fannie Mae Pool #BQ1226 2.00% 9/1/2050 <sup>(d)</sup>  | 5299 | 4227 |
| Fannie Mae Pool #BP6715 2.00% 9/1/2050 <sup>(d)</sup>  | 47 | 38 |
| Fannie Mae Pool #FP0015 2.50% 9/1/2050 <sup>(d)</sup>  | 4827 | 4014 |
| Fannie Mae Pool #CA7028 2.50% 9/1/2050 <sup>(d)</sup>  | 1906 | 1610 |
| Fannie Mae Pool #CA6996 2.50% 9/1/2050 <sup>(d)</sup>  | 1775 | 1478 |
| Fannie Mae Pool #BQ1607 2.50% 9/1/2050 <sup>(d)</sup>  | 658 | 547 |
| Fannie Mae Pool #FM7195 2.50% 9/1/2050 <sup>(d)</sup>  | 314 | 261 |
| Fannie Mae Pool #CA7048 3.00% 9/1/2050 <sup>(d)</sup>  | 24464 | 21490 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(d)</sup>  | 1663 | 1456 |
| Fannie Mae Pool #CA7325 2.00% 10/1/2050 <sup>(d)</sup>  | 54071 | 43644 |
| Fannie Mae Pool #FP0053 2.00% 10/1/2050 <sup>(d)</sup>  | 48286 | 38619 |
| Fannie Mae Pool #MA4158 2.00% 10/1/2050 <sup>(d)</sup>  | 44156 | 35263 |
| Fannie Mae Pool #FP0051 2.00% 10/1/2050 <sup>(d)</sup>  | 30182 | 24246 |
| Fannie Mae Pool #CA7529 2.50% 10/1/2050 <sup>(d)</sup>  | 1681 | 1396 |
| Fannie Mae Pool #FP0060 2.50% 10/1/2050 <sup>(d)</sup>  | 1563 | 1299 |
| Fannie Mae Pool #CA7278 2.50% 10/1/2050 <sup>(d)</sup>  | 779 | 648 |
| Fannie Mae Pool #CA7248 2.50% 10/1/2050 <sup>(d)</sup>  | 196 | 163 |

---

---

| | |
|:---|:---|
| **7** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #CA7381 3.00% 10/1/2050 <sup>(d)</sup>  | USD4,837 | $4209 |
| Fannie Mae Pool #CA7599 2.50% 11/1/2050 <sup>(d)</sup>  | 31783 | 26856 |
| Fannie Mae Pool #BQ9030 2.50% 11/1/2050 <sup>(d)</sup>  | 10772 | 9020 |
| Fannie Mae Pool #CA7737 2.50% 11/1/2050 <sup>(d)</sup>  | 8416 | 7083 |
| Fannie Mae Pool #FM5309 2.50% 11/1/2050 <sup>(d)</sup>  | 5433 | 4516 |
| Fannie Mae Pool #FP0074 2.50% 11/1/2050 <sup>(d)</sup>  | 5101 | 4270 |
| Fannie Mae Pool #BQ7564 2.50% 11/1/2050 <sup>(d)</sup>  | 304 | 252 |
| Fannie Mae Pool #BQ7514 2.50% 11/1/2050 <sup>(d)</sup>  | 157 | 132 |
| Fannie Mae Pool #CA7743 2.50% 11/1/2050 <sup>(d)</sup>  | 112 | 93 |
| Fannie Mae Pool #CA7606 3.00% 11/1/2050 <sup>(d)</sup>  | 19968 | 17652 |
| Fannie Mae Pool #MA4208 2.00% 12/1/2050 <sup>(d)</sup>  | 51097 | 40791 |
| Fannie Mae Pool #CA8108 2.00% 12/1/2050 <sup>(d)</sup>  | 10650 | 8548 |
| Fannie Mae Pool #FM5444 2.00% 12/1/2050 <sup>(d)</sup>  | 969 | 768 |
| Fannie Mae Pool #BQ8497 2.00% 12/1/2050 <sup>(d)</sup>  | 300 | 238 |
| Fannie Mae Pool #CA8130 2.50% 12/1/2050 <sup>(d)</sup>  | 23689 | 19865 |
| Fannie Mae Pool #CA8044 2.50% 12/1/2050 <sup>(d)</sup>  | 14531 | 12186 |
| Fannie Mae Pool #FM5173 2.50% 12/1/2050 <sup>(d)</sup>  | 1756 | 1482 |
| Fannie Mae Pool #CA8046 3.00% 12/1/2050 <sup>(d)</sup>  | 27416 | 24465 |
| Fannie Mae Pool #CA8285 3.00% 12/1/2050 <sup>(d)</sup>  | 8644 | 7668 |
| Fannie Mae Pool #FM5166 3.00% 12/1/2050 <sup>(d)</sup>  | 3269 | 2845 |
| Fannie Mae Pool #FS9792 4.50% 12/1/2050 <sup>(d)</sup>  | 1440 | 1401 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(d)</sup>  | 59871 | 47776 |
| Fannie Mae Pool #CA8587 2.00% 1/1/2051 <sup>(d)</sup>  | 1000 | 793 |
| Fannie Mae Pool #BR0772 2.00% 1/1/2051 <sup>(d)</sup>  | 694 | 551 |
| Fannie Mae Pool #CA8601 2.50% 1/1/2051 <sup>(d)</sup>  | 42848 | 35859 |
| Fannie Mae Pool #CA8862 2.50% 1/1/2051 <sup>(d)</sup>  | 3476 | 2936 |
| Fannie Mae Pool #BR0751 2.50% 1/1/2051 <sup>(d)</sup>  | 1036 | 860 |
| Fannie Mae Pool #FM5944 2.50% 1/1/2051 <sup>(d)</sup>  | 379 | 315 |
| Fannie Mae Pool #CA8607 2.50% 1/1/2051 <sup>(d)</sup>  | 270 | 225 |
| Fannie Mae Pool #BR0757 2.50% 1/1/2051 <sup>(d)</sup>  | 67 | 56 |
| Fannie Mae Pool #FM5509 3.00% 1/1/2051 <sup>(d)</sup>  | 72351 | 63589 |
| Fannie Mae Pool #FM6293 3.00% 1/1/2051 <sup>(d)</sup>  | 27998 | 24371 |
| Fannie Mae Pool #CA8645 4.00% 1/1/2051 <sup>(d)</sup>  | 20 | 19 |
| Fannie Mae Pool #FM5940 2.00% 2/1/2051 <sup>(d)</sup>  | 22682 | 18246 |
| Fannie Mae Pool #CA8820 2.00% 2/1/2051 <sup>(d)</sup>  | 22064 | 17709 |
| Fannie Mae Pool #BR2666 2.00% 2/1/2051 <sup>(d)</sup>  | 12639 | 10158 |
| Fannie Mae Pool #FM6332 2.00% 2/1/2051 <sup>(d)</sup>  | 422 | 334 |
| Fannie Mae Pool #BR3255 2.00% 2/1/2051 <sup>(d)</sup>  | 297 | 236 |
| Fannie Mae Pool #CA9291 2.50% 2/1/2051 <sup>(d)</sup>  | 33731 | 28006 |
| Fannie Mae Pool #CA8828 2.50% 2/1/2051 <sup>(d)</sup>  | 21064 | 17779 |
| Fannie Mae Pool #FS3207 2.50% 2/1/2051 <sup>(d)</sup>  | 4868 | 4073 |
| Fannie Mae Pool #FM5713 2.50% 2/1/2051 <sup>(d)</sup>  | 1985 | 1661 |
| Fannie Mae Pool #FM5778 2.50% 2/1/2051 <sup>(d)</sup>  | 1854 | 1565 |
| Fannie Mae Pool #FM6128 2.50% 2/1/2051 <sup>(d)</sup>  | 980 | 813 |
| Fannie Mae Pool #CA8962 2.50% 2/1/2051 <sup>(d)</sup>  | 121 | 100 |
| Fannie Mae Pool #FM7308 2.50% 2/1/2051 <sup>(d)</sup>  | 118 | 99 |
| Fannie Mae Pool #CA8870 3.00% 2/1/2051 <sup>(d)</sup>  | 97651 | 85968 |
| Fannie Mae Pool #CA8969 3.00% 2/1/2051 <sup>(d)</sup>  | 1099 | 964 |
| Fannie Mae Pool #FM6556 2.00% 3/1/2051 <sup>(d)</sup>  | 1000 | 793 |
| Fannie Mae Pool #BR3319 2.00% 3/1/2051 <sup>(d)</sup>  | 455 | 361 |
| Fannie Mae Pool #FM6764 2.50% 3/1/2051 <sup>(d)</sup>  | 28322 | 23515 |
| Fannie Mae Pool #MA4282 2.50% 3/1/2051 <sup>(d)</sup>  | 4009 | 3346 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051 <sup>(d)</sup>  | 81 | 67 |
| Fannie Mae Pool #BQ7729 2.50% 3/1/2051 <sup>(d)</sup>  | 49 | 41 |
| Fannie Mae Pool #CB0090 2.00% 4/1/2051 <sup>(d)</sup>  | 181854 | 144796 |
| Fannie Mae Pool #CB0290 2.00% 4/1/2051 <sup>(d)</sup>  | 64742 | 51400 |
| Fannie Mae Pool #MA4305 2.00% 4/1/2051 <sup>(d)</sup>  | 1479 | 1178 |
| Fannie Mae Pool #FM7093 2.50% 4/1/2051 <sup>(d)</sup>  | 13416 | 11139 |
| Fannie Mae Pool #MA4306 2.50% 4/1/2051 <sup>(d)</sup>  | 11383 | 9511 |
| Fannie Mae Pool #FM6965 2.50% 4/1/2051 <sup>(d)</sup>  | 590 | 490 |
| Fannie Mae Pool #FS0030 2.50% 4/1/2051 <sup>(d)</sup>  | 489 | 406 |
| Fannie Mae Pool #BN9135 2.50% 4/1/2051 <sup>(d)</sup>  | 427 | 355 |
| Fannie Mae Pool #FM7407 2.50% 4/1/2051 <sup>(d)</sup>  | 401 | 333 |
| Fannie Mae Pool #BR9082 2.50% 4/1/2051 <sup>(d)</sup>  | 382 | 317 |
| Fannie Mae Pool #BR7725 2.50% 4/1/2051 <sup>(d)</sup>  | 32 | 27 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(d)</sup>  | 34898 | 30496 |

---

American Balanced Fund<sub>8</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(d)</sup>  | USD4,297 | $3756 |
| Fannie Mae Pool #CB0496 2.00% 5/1/2051 <sup>(d)</sup>  | 42516 | 33914 |
| Fannie Mae Pool #MA4325 2.00% 5/1/2051 <sup>(d)</sup>  | 35175 | 28009 |
| Fannie Mae Pool #BR1035 2.00% 5/1/2051 <sup>(d)</sup>  | 878 | 697 |
| Fannie Mae Pool #CB0500 2.00% 5/1/2051 <sup>(d)</sup>  | 444 | 352 |
| Fannie Mae Pool #CB0457 2.50% 5/1/2051 <sup>(d)</sup>  | 158990 | 133281 |
| Fannie Mae Pool #CB0520 2.50% 5/1/2051 <sup>(d)</sup>  | 17488 | 14520 |
| Fannie Mae Pool #BR8793 2.50% 5/1/2051 <sup>(d)</sup>  | 16357 | 13580 |
| Fannie Mae Pool #FM7392 2.50% 5/1/2051 <sup>(d)</sup>  | 7618 | 6326 |
| Fannie Mae Pool #CB0396 2.50% 5/1/2051 <sup>(d)</sup>  | 6168 | 5121 |
| Fannie Mae Pool #FM7408 2.50% 5/1/2051 <sup>(d)</sup>  | 767 | 637 |
| Fannie Mae Pool #FM7527 2.50% 5/1/2051 <sup>(d)</sup>  | 301 | 250 |
| Fannie Mae Pool #CB0456 2.50% 5/1/2051 <sup>(d)</sup>  | 280 | 232 |
| Fannie Mae Pool #BR9622 2.50% 5/1/2051 <sup>(d)</sup>  | 259 | 215 |
| Fannie Mae Pool #CB0517 2.50% 5/1/2051 <sup>(d)</sup>  | 136 | 113 |
| Fannie Mae Pool #BR0999 2.50% 5/1/2051 <sup>(d)</sup>  | 47 | 39 |
| Fannie Mae Pool #BR9366 2.50% 5/1/2051 <sup>(d)</sup>  | 35 | 29 |
| Fannie Mae Pool #BR9540 4.00% 5/1/2051 <sup>(d)</sup>  | 2151 | 2080 |
| Fannie Mae Pool #FM7803 2.00% 6/1/2051 <sup>(d)</sup>  | 16869 | 13595 |
| Fannie Mae Pool #FM7740 2.50% 6/1/2051 <sup>(d)</sup>  | 20186 | 16759 |
| Fannie Mae Pool #BT1265 2.50% 6/1/2051 <sup>(d)</sup>  | 17556 | 14578 |
| Fannie Mae Pool #CB0844 2.50% 6/1/2051 <sup>(d)</sup>  | 2910 | 2416 |
| Fannie Mae Pool #BT0098 2.50% 6/1/2051 <sup>(d)</sup>  | 482 | 402 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(d)</sup>  | 3181 | 2780 |
| Fannie Mae Pool #CB0738 3.00% 6/1/2051 <sup>(d)</sup>  | 1594 | 1381 |
| Fannie Mae Pool #FS3744 2.00% 7/1/2051 <sup>(d)</sup>  | 49298 | 39354 |
| Fannie Mae Pool #CB1186 2.00% 7/1/2051 <sup>(d)</sup>  | 23965 | 19054 |
| Fannie Mae Pool #FM9530 2.50% 7/1/2051 <sup>(d)</sup>  | 138347 | 114864 |
| Fannie Mae Pool #BR2095 2.50% 7/1/2051 <sup>(d)</sup>  | 25873 | 21640 |
| Fannie Mae Pool #CB1134 2.50% 7/1/2051 <sup>(d)</sup>  | 11306 | 9387 |
| Fannie Mae Pool #BQ0991 2.50% 7/1/2051 <sup>(d)</sup>  | 9537 | 7918 |
| Fannie Mae Pool #FM8315 2.50% 7/1/2051 <sup>(d)</sup>  | 2762 | 2299 |
| Fannie Mae Pool #BT1335 2.50% 7/1/2051 <sup>(d)</sup>  | 1580 | 1311 |
| Fannie Mae Pool #FM7957 2.50% 7/1/2051 <sup>(d)</sup>  | 549 | 462 |
| Fannie Mae Pool #BT1339 2.50% 7/1/2051 <sup>(d)</sup>  | 76 | 63 |
| Fannie Mae Pool #CB1373 2.00% 8/1/2051 <sup>(d)</sup>  | 17861 | 14158 |
| Fannie Mae Pool #BT2760 2.50% 8/1/2051 <sup>(d)</sup>  | 1060 | 880 |
| Fannie Mae Pool #FS1057 2.50% 8/1/2051 <sup>(d)</sup>  | 889 | 744 |
| Fannie Mae Pool #FM8247 2.50% 8/1/2051 <sup>(d)</sup>  | 783 | 658 |
| Fannie Mae Pool #BT4304 2.50% 8/1/2051 <sup>(d)</sup>  | 694 | 579 |
| Fannie Mae Pool #CB1394 2.50% 8/1/2051 <sup>(d)</sup>  | 109 | 91 |
| Fannie Mae Pool #FM8477 3.00% 8/1/2051 <sup>(d)</sup>  | 63005 | 55159 |
| Fannie Mae Pool #FM8453 3.00% 8/1/2051 <sup>(d)</sup>  | 42841 | 37928 |
| Fannie Mae Pool #FS5081 3.00% 8/1/2051 <sup>(d)</sup>  | 14072 | 12382 |
| Fannie Mae Pool #CB1304 3.00% 8/1/2051 <sup>(d)</sup>  | 3332 | 2933 |
| Fannie Mae Pool #FS4783 4.00% 8/1/2051 <sup>(d)</sup>  | 65921 | 62359 |
| Fannie Mae Pool #FS1630 2.50% 9/1/2051 <sup>(d)</sup>  | 6988 | 5802 |
| Fannie Mae Pool #FM8436 2.50% 9/1/2051 <sup>(d)</sup>  | 4476 | 3716 |
| Fannie Mae Pool #FM8761 2.50% 9/1/2051 <sup>(d)</sup>  | 4420 | 3671 |
| Fannie Mae Pool #FM8692 2.50% 9/1/2051 <sup>(d)</sup>  | 3795 | 3151 |
| Fannie Mae Pool #BT9828 2.50% 9/1/2051 <sup>(d)</sup>  | 3708 | 3078 |
| Fannie Mae Pool #FM8745 2.50% 9/1/2051 <sup>(d)</sup>  | 3135 | 2603 |
| Fannie Mae Pool #BQ7435 2.50% 9/1/2051 <sup>(d)</sup>  | 2273 | 1894 |
| Fannie Mae Pool #CB1566 2.50% 9/1/2051 <sup>(d)</sup>  | 2208 | 1834 |
| Fannie Mae Pool #BT7263 2.50% 9/1/2051 <sup>(d)</sup>  | 2091 | 1736 |
| Fannie Mae Pool #BQ7428 2.50% 9/1/2051 <sup>(d)</sup>  | 1739 | 1449 |
| Fannie Mae Pool #BU0464 2.50% 9/1/2051 <sup>(d)</sup>  | 168 | 139 |
| Fannie Mae Pool #FM8980 2.50% 9/1/2051 <sup>(d)</sup>  | 21 | 17 |
| Fannie Mae Pool #MA4415 3.00% 9/1/2051 <sup>(d)</sup>  | 3302 | 2874 |
| Fannie Mae Pool #FS5125 2.50% 10/1/2051 <sup>(d)</sup>  | 3848 | 3195 |
| Fannie Mae Pool #CB1818 2.50% 10/1/2051 <sup>(d)</sup>  | 1953 | 1622 |
| Fannie Mae Pool #FS3298 2.50% 10/1/2051 <sup>(d)</sup>  | 1022 | 848 |
| Fannie Mae Pool #FM9086 2.50% 10/1/2051 <sup>(d)</sup>  | 361 | 300 |
| Fannie Mae Pool #FM8954 2.50% 10/1/2051 <sup>(d)</sup>  | 245 | 204 |
| Fannie Mae Pool #FM9067 2.50% 10/1/2051 <sup>(d)</sup>  | 178 | 148 |
| Fannie Mae Pool #BU1062 2.50% 10/1/2051 <sup>(d)</sup>  | 80 | 66 |

---

---

| | |
|:---|:---|
| **9** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #BT6823 2.50% 10/1/2051 <sup>(d)</sup>  | USD37 | $31 |
| Fannie Mae Pool #BU0070 2.50% 10/1/2051 <sup>(d)</sup>  | 34 | 28 |
| Fannie Mae Pool #FS4628 3.00% 10/1/2051 <sup>(d)</sup>  | 23276 | 20339 |
| Fannie Mae Pool #FM9419 3.00% 10/1/2051 <sup>(d)</sup>  | 392 | 341 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(d)</sup>  | 8860 | 7042 |
| Fannie Mae Pool #FS0965 2.00% 11/1/2051 <sup>(d)</sup>  | 6674 | 5316 |
| Fannie Mae Pool #FM9646 2.00% 11/1/2051 <sup>(d)</sup>  | 273 | 217 |
| Fannie Mae Pool #CB2088 2.50% 11/1/2051 <sup>(d)</sup>  | 847 | 705 |
| Fannie Mae Pool #FM9632 3.00% 11/1/2051 <sup>(d)</sup>  | 36036 | 31579 |
| Fannie Mae Pool #CB2078 3.00% 11/1/2051 <sup>(d)</sup>  | 23994 | 20960 |
| Fannie Mae Pool #FM9631 3.00% 11/1/2051 <sup>(d)</sup>  | 15533 | 13665 |
| Fannie Mae Pool #CB2095 3.00% 11/1/2051 <sup>(d)</sup>  | 94 | 82 |
| Fannie Mae Pool #BU3349 3.50% 11/1/2051 <sup>(d)</sup>  | 33 | 30 |
| Fannie Mae Pool #BU7817 2.00% 12/1/2051 <sup>(d)</sup>  | 2189 | 1735 |
| Fannie Mae Pool #CB2375 2.50% 12/1/2051 <sup>(d)</sup>  | 70008 | 58806 |
| Fannie Mae Pool #CB2319 2.50% 12/1/2051 <sup>(d)</sup>  | 68451 | 57639 |
| Fannie Mae Pool #CB2286 2.50% 12/1/2051 <sup>(d)</sup>  | 37747 | 31721 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(d)</sup>  | 36334 | 30175 |
| Fannie Mae Pool #CB2372 2.50% 12/1/2051 <sup>(d)</sup>  | 32794 | 27575 |
| Fannie Mae Pool #BT9483 2.50% 12/1/2051 <sup>(d)</sup>  | 26099 | 21977 |
| Fannie Mae Pool #BT9510 2.50% 12/1/2051 <sup>(d)</sup>  | 25635 | 21600 |
| Fannie Mae Pool #CB2373 2.50% 12/1/2051 <sup>(d)</sup>  | 11717 | 9857 |
| Fannie Mae Pool #MA4493 2.50% 12/1/2051 <sup>(d)</sup>  | 2288 | 1902 |
| Fannie Mae Pool #CB2401 2.50% 12/1/2051 <sup>(d)</sup>  | 736 | 611 |
| Fannie Mae Pool #CB2408 2.50% 12/1/2051 <sup>(d)</sup>  | 125 | 105 |
| Fannie Mae Pool #BU5890 2.50% 12/1/2051 <sup>(d)</sup>  | 78 | 65 |
| Fannie Mae Pool #CB2431 3.00% 12/1/2051 <sup>(d)</sup>  | 127 | 110 |
| Fannie Mae Pool #FS0392 2.50% 1/1/2052 <sup>(d)</sup>  | 7873 | 6537 |
| Fannie Mae Pool #FS6479 2.50% 1/1/2052 <sup>(d)</sup>  | 2318 | 1927 |
| Fannie Mae Pool #FS4203 2.50% 1/1/2052 <sup>(d)</sup>  | 1792 | 1488 |
| Fannie Mae Pool #BQ7459 2.50% 1/1/2052 <sup>(d)</sup>  | 1595 | 1330 |
| Fannie Mae Pool #FS3549 2.50% 1/1/2052 <sup>(d)</sup>  | 1083 | 901 |
| Fannie Mae Pool #BV0761 2.50% 1/1/2052 <sup>(d)</sup>  | 121 | 101 |
| Fannie Mae Pool #FS1648 2.50% 1/1/2052 <sup>(d)</sup>  | 118 | 98 |
| Fannie Mae Pool #FS5613 2.50% 1/1/2052 <sup>(d)</sup>  | 102 | 85 |
| Fannie Mae Pool #MA4512 2.50% 1/1/2052 <sup>(d)</sup>  | 80 | 67 |
| Fannie Mae Pool #BU7552 2.50% 1/1/2052 <sup>(d)</sup>  | 24 | 20 |
| Fannie Mae Pool #FS0182 3.00% 1/1/2052 <sup>(d)</sup>  | 30254 | 26437 |
| Fannie Mae Pool #CB2666 3.00% 1/1/2052 <sup>(d)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #FS0972 3.50% 1/1/2052 <sup>(d)</sup>  | 5522 | 5065 |
| Fannie Mae Pool #BU7427 3.50% 1/1/2052 <sup>(d)</sup>  | 804 | 735 |
| Fannie Mae Pool #BV3080 2.00% 2/1/2052 <sup>(d)</sup>  | 72789 | 57735 |
| Fannie Mae Pool #BV3076 2.00% 2/1/2052 <sup>(d)</sup>  | 39234 | 31125 |
| Fannie Mae Pool #CB2765 2.00% 2/1/2052 <sup>(d)</sup>  | 11889 | 9500 |
| Fannie Mae Pool #BT1897 2.00% 2/1/2052 <sup>(d)</sup>  | 776 | 615 |
| Fannie Mae Pool #FS1080 2.50% 2/1/2052 <sup>(d)</sup>  | 23975 | 19912 |
| Fannie Mae Pool #FS1885 2.50% 2/1/2052 <sup>(d)</sup>  | 6375 | 5294 |
| Fannie Mae Pool #BT6607 2.50% 2/1/2052 <sup>(d)</sup>  | 3361 | 2790 |
| Fannie Mae Pool #FS2660 2.50% 2/1/2052 <sup>(d)</sup>  | 2692 | 2238 |
| Fannie Mae Pool #BT2176 2.50% 2/1/2052 <sup>(d)</sup>  | 1782 | 1487 |
| Fannie Mae Pool #CB3099 2.50% 2/1/2052 <sup>(d)</sup>  | 899 | 749 |
| Fannie Mae Pool #FS5034 2.50% 2/1/2052 <sup>(d)</sup>  | 588 | 488 |
| Fannie Mae Pool #CB2870 2.50% 2/1/2052 <sup>(d)</sup>  | 74 | 62 |
| Fannie Mae Pool #MA4548 2.50% 2/1/2052 <sup>(d)</sup>  | 67 | 55 |
| Fannie Mae Pool #BV4126 2.50% 2/1/2052 <sup>(d)</sup>  | 58 | 48 |
| Fannie Mae Pool #BV3674 2.50% 2/1/2052 <sup>(d)</sup>  | 56 | 47 |
| Fannie Mae Pool #CB2882 3.00% 2/1/2052 <sup>(d)</sup>  | 23699 | 20840 |
| Fannie Mae Pool #FS0647 3.00% 2/1/2052 <sup>(d)</sup>  | 9082 | 8000 |
| Fannie Mae Pool #CB3155 2.00% 3/1/2052 <sup>(d)</sup>  | 8863 | 7031 |
| Fannie Mae Pool #BV4133 2.50% 3/1/2052 <sup>(d)</sup>  | 6077 | 5045 |
| Fannie Mae Pool #CB3063 2.50% 3/1/2052 <sup>(d)</sup>  | 5060 | 4219 |
| Fannie Mae Pool #BU8884 2.50% 3/1/2052 <sup>(d)</sup>  | 1325 | 1104 |
| Fannie Mae Pool #CB3744 2.50% 3/1/2052 <sup>(d)</sup>  | 733 | 609 |
| Fannie Mae Pool #BT8111 2.50% 3/1/2052 <sup>(d)</sup>  | 410 | 341 |
| Fannie Mae Pool #CB3049 2.50% 3/1/2052 <sup>(d)</sup>  | 196 | 163 |
| Fannie Mae Pool #BV4119 2.50% 3/1/2052 <sup>(d)</sup>  | 104 | 87 |

---

American Balanced Fund<sub>10</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #CB3031 2.50% 3/1/2052 <sup>(d)</sup>  | USD93 | $77 |
| Fannie Mae Pool #FS0752 3.00% 3/1/2052 <sup>(d)</sup>  | 24036 | 21037 |
| Fannie Mae Pool #BV4149 3.00% 3/1/2052 <sup>(d)</sup>  | 984 | 853 |
| Fannie Mae Pool #FS1169 3.00% 3/1/2052 <sup>(d)</sup>  | 225 | 195 |
| Fannie Mae Pool #BU8883 3.00% 3/1/2052 <sup>(d)</sup>  | 79 | 69 |
| Fannie Mae Pool #FS5326 3.00% 3/1/2052 <sup>(d)</sup>  | 55 | 48 |
| Fannie Mae Pool #CB3126 3.50% 3/1/2052 <sup>(d)</sup>  | 7158 | 6530 |
| Fannie Mae Pool #BV3316 3.50% 3/1/2052 <sup>(d)</sup>  | 373 | 337 |
| Fannie Mae Pool #FS7498 2.00% 4/1/2052 <sup>(d)</sup>  | 31289 | 24854 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(d)</sup>  | 16632 | 13224 |
| Fannie Mae Pool #BT4443 2.00% 4/1/2052 <sup>(d)</sup>  | 511 | 406 |
| Fannie Mae Pool #CB3343 2.00% 4/1/2052 <sup>(d)</sup>  | 44 | 35 |
| Fannie Mae Pool #CB3346 2.00% 4/1/2052 <sup>(d)</sup>  | 34 | 27 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(d)</sup>  | 49555 | 41141 |
| Fannie Mae Pool #CB3520 2.50% 4/1/2052 <sup>(d)</sup>  | 19140 | 15894 |
| Fannie Mae Pool #BT2292 2.50% 4/1/2052 <sup>(d)</sup>  | 7890 | 6551 |
| Fannie Mae Pool #MA4578 2.50% 4/1/2052 <sup>(d)</sup>  | 3232 | 2689 |
| Fannie Mae Pool #BV4656 2.50% 4/1/2052 <sup>(d)</sup>  | 2140 | 1782 |
| Fannie Mae Pool #BQ7478 2.50% 4/1/2052 <sup>(d)</sup>  | 2083 | 1735 |
| Fannie Mae Pool #CB3356 2.50% 4/1/2052 <sup>(d)</sup>  | 1795 | 1491 |
| Fannie Mae Pool #BV5355 2.50% 4/1/2052 <sup>(d)</sup>  | 1473 | 1228 |
| Fannie Mae Pool #BU9507 2.50% 4/1/2052 <sup>(d)</sup>  | 520 | 433 |
| Fannie Mae Pool #BT8116 2.50% 4/1/2052 <sup>(d)</sup>  | 442 | 369 |
| Fannie Mae Pool #FS6221 2.50% 4/1/2052 <sup>(d)</sup>  | 108 | 90 |
| Fannie Mae Pool #FS8677 2.50% 4/1/2052 <sup>(d)</sup>  | 78 | 65 |
| Fannie Mae Pool #BV5370 2.50% 4/1/2052 <sup>(d)</sup>  | 69 | 57 |
| Fannie Mae Pool #CB3242 3.00% 4/1/2052 <sup>(d)</sup>  | 1000 | 866 |
| Fannie Mae Pool #FS4377 3.00% 4/1/2052 <sup>(d)</sup>  | 118 | 103 |
| Fannie Mae Pool #BV7709 3.00% 4/1/2052 <sup>(d)</sup>  | 48 | 42 |
| Fannie Mae Pool #FS1180 3.50% 4/1/2052 <sup>(d)</sup>  | 72054 | 65733 |
| Fannie Mae Pool #BV0242 3.50% 4/1/2052 <sup>(d)</sup>  | 163 | 147 |
| Fannie Mae Pool #FS1206 3.50% 4/1/2052 <sup>(d)</sup>  | 144 | 131 |
| Fannie Mae Pool #CB3379 4.00% 4/1/2052 <sup>(d)</sup>  | 4942 | 4611 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(d)</sup>  | 37672 | 29946 |
| Fannie Mae Pool #BV9644 2.50% 5/1/2052 <sup>(d)</sup>  | 11491 | 9572 |
| Fannie Mae Pool #FS8650 2.50% 5/1/2052 <sup>(d)</sup>  | 10011 | 8317 |
| Fannie Mae Pool #BV5577 2.50% 5/1/2052 <sup>(d)</sup>  | 668 | 557 |
| Fannie Mae Pool #BW0160 2.50% 5/1/2052 <sup>(d)</sup>  | 347 | 290 |
| Fannie Mae Pool #MA4598 2.50% 5/1/2052 <sup>(d)</sup>  | 170 | 142 |
| Fannie Mae Pool #BW0462 2.50% 5/1/2052 <sup>(d)</sup>  | 63 | 53 |
| Fannie Mae Pool #FS4815 3.00% 5/1/2052 <sup>(d)</sup>  | 970 | 841 |
| Fannie Mae Pool #CB3584 3.00% 5/1/2052 <sup>(d)</sup>  | 211 | 184 |
| Fannie Mae Pool #CB3620 4.00% 5/1/2052 <sup>(d)</sup>  | 70664 | 65874 |
| Fannie Mae Pool #FS1834 4.00% 5/1/2052 <sup>(d)</sup>  | 38125 | 35698 |
| Fannie Mae Pool #FS1948 4.00% 5/1/2052 <sup>(d)</sup>  | 24 | 22 |
| Fannie Mae Pool #CB3653 5.00% 5/1/2052 <sup>(d)</sup>  | 26 | 25 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(d)</sup>  | 9485 | 7527 |
| Fannie Mae Pool #BU8730 2.50% 6/1/2052 <sup>(d)</sup>  | 11459 | 9547 |
| Fannie Mae Pool #MA4623 2.50% 6/1/2052 <sup>(d)</sup>  | 464 | 386 |
| Fannie Mae Pool #BV9975 2.50% 6/1/2052 <sup>(d)</sup>  | 458 | 381 |
| Fannie Mae Pool #BW7323 2.50% 6/1/2052 <sup>(d)</sup>  | 234 | 195 |
| Fannie Mae Pool #FS6943 3.00% 6/1/2052 <sup>(d)</sup>  | 219 | 190 |
| Fannie Mae Pool #CB3996 3.00% 6/1/2052 <sup>(d)</sup>  | 32 | 28 |
| Fannie Mae Pool #BV7809 3.50% 6/1/2052 <sup>(d)</sup>  | 129 | 117 |
| Fannie Mae Pool #MA4626 4.00% 6/1/2052 <sup>(d)</sup>  | 13377 | 12472 |
| Fannie Mae Pool #CB4021 4.00% 6/1/2052 <sup>(d)</sup>  | 10244 | 9559 |
| Fannie Mae Pool #BV9955 4.00% 6/1/2052 <sup>(d)</sup>  | 27 | 26 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(d)</sup>  | 19658 | 15585 |
| Fannie Mae Pool #BV7823 2.00% 7/1/2052 <sup>(d)</sup>  | 1501 | 1194 |
| Fannie Mae Pool #CB4274 2.50% 7/1/2052 <sup>(d)</sup>  | 14486 | 12022 |
| Fannie Mae Pool #FS6631 2.50% 7/1/2052 <sup>(d)</sup>  | 1017 | 846 |
| Fannie Mae Pool #BW0002 2.50% 7/1/2052 <sup>(d)</sup>  | 476 | 396 |
| Fannie Mae Pool #BW4142 2.50% 7/1/2052 <sup>(d)</sup>  | 298 | 249 |
| Fannie Mae Pool #CB4119 4.00% 7/1/2052 <sup>(d)</sup>  | 125667 | 117141 |
| Fannie Mae Pool #FS5851 4.00% 7/1/2052 <sup>(d)</sup>  | 15076 | 14056 |
| Fannie Mae Pool #CB4123 4.00% 7/1/2052 <sup>(d)</sup>  | 862 | 803 |

---

---

| | |
|:---|:---|
| **11** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #MA4743 2.50% 8/1/2052 <sup>(d)</sup>  | USD1,517 | $1259 |
| Fannie Mae Pool #FS2535 2.50% 8/1/2052 <sup>(d)</sup>  | 121 | 100 |
| Fannie Mae Pool #FS4747 3.50% 8/1/2052 <sup>(d)</sup>  | 10031 | 9106 |
| Fannie Mae Pool #FS2654 4.00% 8/1/2052 <sup>(d)</sup>  | 3109 | 2898 |
| Fannie Mae Pool #BT8308 4.50% 8/1/2052 <sup>(d)</sup>  | 130 | 125 |
| Fannie Mae Pool #BV8976 5.00% 8/1/2052 <sup>(d)</sup>  | 8581 | 8508 |
| Fannie Mae Pool #BW9206 5.50% 8/1/2052 <sup>(d)</sup>  | 128 | 132 |
| Fannie Mae Pool #FS2805 2.50% 9/1/2052 <sup>(d)</sup>  | 647 | 538 |
| Fannie Mae Pool #MA4768 2.50% 9/1/2052 <sup>(d)</sup>  | 494 | 411 |
| Fannie Mae Pool #CB4548 4.00% 9/1/2052 <sup>(d)</sup>  | 4326 | 4032 |
| Fannie Mae Pool #MA4732 4.00% 9/1/2052 <sup>(d)</sup>  | 2301 | 2146 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(d)</sup>  | 27475 | 26315 |
| Fannie Mae Pool #CB4620 5.00% 9/1/2052 <sup>(d)</sup>  | 37047 | 36628 |
| Fannie Mae Pool #FS4611 5.00% 9/1/2052 <sup>(d)</sup>  | 19098 | 18820 |
| Fannie Mae Pool #FS3056 2.00% 10/1/2052 <sup>(d)</sup>  | 229396 | 181979 |
| Fannie Mae Pool #CB4819 4.00% 10/1/2052 <sup>(d)</sup>  | 26 | 24 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(d)</sup>  | 24681 | 24321 |
| Fannie Mae Pool #BW1289 5.50% 10/1/2052 <sup>(d)</sup>  | 6733 | 6756 |
| Fannie Mae Pool #BW1243 5.50% 10/1/2052 <sup>(d)</sup>  | 6121 | 6149 |
| Fannie Mae Pool #CB5266 4.50% 11/1/2052 <sup>(d)</sup>  | 119907 | 114923 |
| Fannie Mae Pool #FS5554 4.50% 11/1/2052 <sup>(d)</sup>  | 44764 | 42934 |
| Fannie Mae Pool #MA4805 4.50% 11/1/2052 <sup>(d)</sup>  | 16681 | 15996 |
| Fannie Mae Pool #MA4806 5.00% 11/1/2052 <sup>(d)</sup>  | 23894 | 23588 |
| Fannie Mae Pool #BX2812 5.00% 11/1/2052 <sup>(d)</sup>  | 15872 | 15643 |
| Fannie Mae Pool #BX5583 5.00% 12/1/2052 <sup>(d)</sup>  | 1839 | 1817 |
| Fannie Mae Pool #MA4842 5.50% 12/1/2052 <sup>(d)</sup>  | 43131 | 43280 |
| Fannie Mae Pool #BX4004 5.50% 12/1/2052 <sup>(d)</sup>  | 1063 | 1064 |
| Fannie Mae Pool #BX3726 5.50% 12/1/2052 <sup>(d)</sup>  | 829 | 831 |
| Fannie Mae Pool #BX3716 5.50% 12/1/2052 <sup>(d)</sup>  | 624 | 625 |
| Fannie Mae Pool #MA4910 2.50% 1/1/2053 <sup>(d)</sup>  | 3835 | 3191 |
| Fannie Mae Pool #FS4947 4.00% 1/1/2053 <sup>(d)</sup>  | 204 | 190 |
| Fannie Mae Pool #FS5520 4.50% 1/1/2053 <sup>(d)</sup>  | 12561 | 12031 |
| Fannie Mae Pool #FS6769 5.00% 1/1/2053 <sup>(d)</sup>  | 89735 | 88421 |
| Fannie Mae Pool #BT8033 5.00% 1/1/2053 <sup>(d)</sup>  | 17824 | 17566 |
| Fannie Mae Pool #BX0856 5.50% 1/1/2053 <sup>(d)</sup>  | 625 | 629 |
| Fannie Mae Pool #BX5592 5.50% 1/1/2053 <sup>(d)</sup>  | 509 | 512 |
| Fannie Mae Pool #BX6108 5.50% 1/1/2053 <sup>(d)</sup>  | 57 | 57 |
| Fannie Mae Pool #BW4964 2.50% 2/1/2053 <sup>(d)</sup>  | 145 | 120 |
| Fannie Mae Pool #FS4435 2.50% 2/1/2053 <sup>(d)</sup>  | 22 | 18 |
| Fannie Mae Pool #MA4916 4.00% 2/1/2053 <sup>(d)</sup>  | 401 | 373 |
| Fannie Mae Pool #BW5132 4.00% 2/1/2053 <sup>(d)</sup>  | 96 | 90 |
| Fannie Mae Pool #MA4917 4.50% 2/1/2053 <sup>(d)</sup>  | 163 | 156 |
| Fannie Mae Pool #MA4919 5.50% 2/1/2053 <sup>(d)</sup>  | 13418 | 13459 |
| Fannie Mae Pool #BX7384 5.50% 2/1/2053 <sup>(d)</sup>  | 1070 | 1071 |
| Fannie Mae Pool #FS4024 5.50% 2/1/2053 <sup>(d)</sup>  | 481 | 483 |
| Fannie Mae Pool #BW5124 5.50% 2/1/2053 <sup>(d)</sup>  | 80 | 80 |
| Fannie Mae Pool #FS3759 6.00% 2/1/2053 <sup>(d)</sup>  | 29639 | 30585 |
| Fannie Mae Pool #BX7703 6.50% 2/1/2053 <sup>(d)</sup>  | 262 | 272 |
| Fannie Mae Pool #BW5000 4.00% 3/1/2053 <sup>(d)</sup>  | 2220 | 2069 |
| Fannie Mae Pool #MA4962 4.00% 3/1/2053 <sup>(d)</sup>  | 655 | 611 |
| Fannie Mae Pool #BX7774 5.50% 3/1/2053 <sup>(d)</sup>  | 8868 | 8915 |
| Fannie Mae Pool #FS4191 5.50% 3/1/2053 <sup>(d)</sup>  | 3963 | 3992 |
| Fannie Mae Pool #BX9431 5.50% 3/1/2053 <sup>(d)</sup>  | 3224 | 3241 |
| Fannie Mae Pool #BX7782 5.50% 3/1/2053 <sup>(d)</sup>  | 1700 | 1704 |
| Fannie Mae Pool #BX8514 5.50% 3/1/2053 <sup>(d)</sup>  | 170 | 172 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(d)</sup>  | 17630 | 18049 |
| Fannie Mae Pool #BW4879 3.00% 4/1/2053 <sup>(d)</sup>  | 196 | 170 |
| Fannie Mae Pool #MA4993 4.00% 4/1/2053 <sup>(d)</sup>  | 5207 | 4848 |
| Fannie Mae Pool #CB6012 4.00% 4/1/2053 <sup>(d)</sup>  | 5009 | 4662 |
| Fannie Mae Pool #MA4977 4.50% 4/1/2053 <sup>(d)</sup>  | 2886 | 2767 |
| Fannie Mae Pool #BW5269 4.50% 4/1/2053 <sup>(d)</sup>  | 1087 | 1041 |
| Fannie Mae Pool #MA4978 5.00% 4/1/2053 <sup>(d)</sup>  | 29929 | 29445 |
| Fannie Mae Pool #MA4979 5.50% 4/1/2053 <sup>(d)</sup>  | 4445 | 4454 |
| Fannie Mae Pool #BX9116 5.50% 4/1/2053 <sup>(d)</sup>  | 2915 | 2921 |
| Fannie Mae Pool #BX8556 5.50% 4/1/2053 <sup>(d)</sup>  | 2824 | 2834 |
| Fannie Mae Pool #BY0667 5.50% 4/1/2053 <sup>(d)</sup>  | 844 | 846 |

---

American Balanced Fund<sub>12</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #BY0007 5.50% 4/1/2053 <sup>(d)</sup>  | USD747 | $750 |
| Fannie Mae Pool #BY3206 5.50% 4/1/2053 <sup>(d)</sup>  | 413 | 414 |
| Fannie Mae Pool #BX8883 5.50% 4/1/2053 <sup>(d)</sup>  | 132 | 132 |
| Fannie Mae Pool #FS4919 2.50% 5/1/2053 <sup>(d)</sup>  | 64 | 53 |
| Fannie Mae Pool #BW4940 4.00% 5/1/2053 <sup>(d)</sup>  | 1494 | 1392 |
| Fannie Mae Pool #CB6297 4.00% 5/1/2053 <sup>(d)</sup>  | 379 | 353 |
| Fannie Mae Pool #MA5008 4.50% 5/1/2053 <sup>(d)</sup>  | 2658 | 2545 |
| Fannie Mae Pool #MA5009 5.00% 5/1/2053 <sup>(d)</sup>  | 37707 | 37086 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(d)</sup>  | 6806 | 6725 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(d)</sup>  | 11079 | 11091 |
| Fannie Mae Pool #BY0091 5.50% 5/1/2053 <sup>(d)</sup>  | 7917 | 7931 |
| Fannie Mae Pool #MA5010 5.50% 5/1/2053 <sup>(d)</sup>  | 6163 | 6177 |
| Fannie Mae Pool #BY2505 5.50% 5/1/2053 <sup>(d)</sup>  | 3954 | 3966 |
| Fannie Mae Pool #BY0204 5.50% 5/1/2053 <sup>(d)</sup>  | 3187 | 3216 |
| Fannie Mae Pool #BY4413 5.50% 5/1/2053 <sup>(d)</sup>  | 297 | 297 |
| Fannie Mae Pool #MA5063 2.50% 6/1/2053 <sup>(d)</sup>  | 3392 | 2819 |
| Fannie Mae Pool #BY4220 4.00% 6/1/2053 <sup>(d)</sup>  | 544 | 506 |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(d)</sup>  | 43023 | 42280 |
| Fannie Mae Pool #FS5192 5.50% 6/1/2053 <sup>(d)</sup>  | 65575 | 65724 |
| Fannie Mae Pool #BY3521 5.50% 6/1/2053 <sup>(d)</sup>  | 15567 | 15609 |
| Fannie Mae Pool #MA5039 5.50% 6/1/2053 <sup>(d)</sup>  | 3836 | 3844 |
| Fannie Mae Pool #BY3337 5.50% 6/1/2053 <sup>(d)</sup>  | 325 | 327 |
| Fannie Mae Pool #CB6491 6.50% 6/1/2053 <sup>(d)</sup>  | 5842 | 6088 |
| Fannie Mae Pool #CB6490 6.50% 6/1/2053 <sup>(d)</sup>  | 2080 | 2156 |
| Fannie Mae Pool #CB6468 6.50% 6/1/2053 <sup>(d)</sup>  | 1520 | 1582 |
| Fannie Mae Pool #MA5089 4.00% 7/1/2053 <sup>(d)</sup>  | 16314 | 15196 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(d)</sup>  | 988 | 920 |
| Fannie Mae Pool #MA5070 4.50% 7/1/2053 <sup>(d)</sup>  | 123349 | 118248 |
| Fannie Mae Pool #CB6719 4.50% 7/1/2053 <sup>(d)</sup>  | 3495 | 3348 |
| Fannie Mae Pool #MA5072 5.50% 7/1/2053 <sup>(d)</sup>  | 38637 | 38710 |
| Fannie Mae Pool #CB6768 6.50% 7/1/2053 <sup>(d)</sup>  | 7411 | 7712 |
| Fannie Mae Pool #CB6853 4.50% 8/1/2053 <sup>(d)</sup>  | 5382 | 5156 |
| Fannie Mae Pool #MA5107 5.50% 8/1/2053 <sup>(d)</sup>  | 92 | 92 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(d)</sup>  | 9991 | 10015 |
| Fannie Mae Pool #MA5139 6.00% 9/1/2053 <sup>(d)</sup>  | 3071 | 3128 |
| Fannie Mae Pool #MA5165 5.50% 10/1/2053 <sup>(d)</sup>  | 5234 | 5242 |
| Fannie Mae Pool #CB7344 6.00% 10/1/2053 <sup>(d)</sup>  | 80575 | 82097 |
| Fannie Mae Pool #MA5166 6.00% 10/1/2053 <sup>(d)</sup>  | 8348 | 8500 |
| Fannie Mae Pool #BY1418 4.00% 11/1/2053 <sup>(d)</sup>  | 5314 | 4948 |
| Fannie Mae Pool #CB8251 4.00% 11/1/2053 <sup>(d)</sup>  | 1845 | 1717 |
| Fannie Mae Pool #FS7252 5.00% 11/1/2053 <sup>(d)</sup>  | 60890 | 59839 |
| Fannie Mae Pool #MA5190 5.50% 11/1/2053 <sup>(d)</sup>  | 73090 | 73209 |
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(d)</sup>  | 11120 | 11139 |
| Fannie Mae Pool #MA5191 6.00% 11/1/2053 <sup>(d)</sup>  | 9876 | 10057 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(d)</sup>  | 3209 | 3330 |
| Fannie Mae Pool #CB7907 6.50% 11/1/2053 <sup>(d)</sup>  | 31 | 32 |
| Fannie Mae Pool #MA5236 4.00% 12/1/2053 <sup>(d)</sup>  | 4792 | 4461 |
| Fannie Mae Pool #BY1448 4.00% 12/1/2053 <sup>(d)</sup>  | 4550 | 4237 |
| Fannie Mae Pool #FS6668 5.50% 12/1/2053 <sup>(d)</sup>  | 13962 | 13987 |
| Fannie Mae Pool #MA5215 5.50% 12/1/2053 <sup>(d)</sup>  | 8446 | 8457 |
| Fannie Mae Pool #CB7617 6.00% 12/1/2053 <sup>(d)</sup>  | 12738 | 12963 |
| Fannie Mae Pool #FS6610 6.50% 12/1/2053 <sup>(d)</sup>  | 17951 | 18587 |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(d)</sup>  | 3598 | 3744 |
| Fannie Mae Pool #FS7880 2.50% 1/1/2054 <sup>(d)</sup>  | 840 | 700 |
| Fannie Mae Pool #FS7058 2.50% 1/1/2054 <sup>(d)</sup>  | 32 | 27 |
| Fannie Mae Pool #CB7862 6.00% 1/1/2054 <sup>(d)</sup>  | 22308 | 22731 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(d)</sup>  | 37644 | 38929 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(d)</sup>  | 1681 | 1747 |
| Fannie Mae Pool #MA5248 6.50% 1/1/2054 <sup>(d)</sup>  | 69 | 71 |
| Fannie Mae Pool #BY1343 4.00% 2/1/2054 <sup>(d)</sup>  | 4541 | 4226 |
| Fannie Mae Pool #MA5270 5.00% 2/1/2054 <sup>(d)</sup>  | 9562 | 9391 |
| Fannie Mae Pool #FS6809 5.50% 2/1/2054 <sup>(d)</sup>  | 13144 | 13156 |
| Fannie Mae Pool #MA5271 5.50% 2/1/2054 <sup>(d)</sup>  | 10117 | 10126 |
| Fannie Mae Pool #CB7932 6.00% 2/1/2054 <sup>(d)</sup>  | 16337 | 16670 |
| Fannie Mae Pool #FS7503 6.00% 2/1/2054 <sup>(d)</sup>  | 4774 | 4856 |
| Fannie Mae Pool #FS7031 6.00% 2/1/2054 <sup>(d)</sup>  | 3540 | 3624 |

---

---

| | |
|:---|:---|
| **13** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #CB7933 6.50% 2/1/2054 <sup>(d)</sup>  | USD9,840 | $10176 |
| Fannie Mae Pool #FS7162 6.50% 2/1/2054 <sup>(d)</sup>  | 8358 | 8699 |
| Fannie Mae Pool #FS9508 4.50% 3/1/2054 <sup>(d)</sup>  | 7740 | 7419 |
| Fannie Mae Pool #MA5296 5.50% 3/1/2054 <sup>(d)</sup>  | 26850 | 26870 |
| Fannie Mae Pool #CB8151 5.50% 3/1/2054 <sup>(d)</sup>  | 7101 | 7122 |
| Fannie Mae Pool #DA7881 5.50% 3/1/2054 <sup>(d)</sup>  | 596 | 597 |
| Fannie Mae Pool #FS7507 6.00% 3/1/2054 <sup>(d)</sup>  | 56242 | 57578 |
| Fannie Mae Pool #CB8163 6.00% 3/1/2054 <sup>(d)</sup>  | 23069 | 23617 |
| Fannie Mae Pool #CB8168 6.00% 3/1/2054 <sup>(d)</sup>  | 215 | 219 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(d)</sup>  | 3463 | 3604 |
| Fannie Mae Pool #CB8337 5.50% 4/1/2054 <sup>(d)</sup>  | 8991 | 9021 |
| Fannie Mae Pool #CB8387 6.50% 4/1/2054 <sup>(d)</sup>  | 4113 | 4293 |
| Fannie Mae Pool #CB8536 5.50% 5/1/2054 <sup>(d)</sup>  | 54977 | 55357 |
| Fannie Mae Pool #DB5160 5.50% 5/1/2054 <sup>(d)</sup>  | 2992 | 3002 |
| Fannie Mae Pool #DB2495 6.00% 5/1/2054 <sup>(d)</sup>  | 1746 | 1776 |
| Fannie Mae Pool #MA5388 5.50% 6/1/2054 <sup>(d)</sup>  | 19249 | 19263 |
| Fannie Mae Pool #FS8131 5.50% 6/1/2054 <sup>(d)</sup>  | 7503 | 7543 |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(d)</sup>  | 14222 | 14491 |
| Fannie Mae Pool #FS8219 6.00% 6/1/2054 <sup>(d)</sup>  | 12256 | 12571 |
| Fannie Mae Pool #DB6878 6.00% 6/1/2054 <sup>(d)</sup>  | 5834 | 5936 |
| Fannie Mae Pool #FS8153 6.00% 6/1/2054 <sup>(d)</sup>  | 4715 | 4827 |
| Fannie Mae Pool #DB5480 6.50% 6/1/2054 <sup>(d)</sup>  | 1385 | 1433 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(d)</sup>  | 1009 | 1048 |
| Fannie Mae Pool #CB8842 5.50% 7/1/2054 <sup>(d)</sup>  | 23116 | 23155 |
| Fannie Mae Pool #DB5213 5.50% 7/1/2054 <sup>(d)</sup>  | 14550 | 14562 |
| Fannie Mae Pool #BU4699 5.50% 7/1/2054 <sup>(d)</sup>  | 13095 | 13117 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(d)</sup>  | 11082 | 11152 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(d)</sup>  | 50981 | 52069 |
| Fannie Mae Pool #MA5421 6.00% 7/1/2054 <sup>(d)</sup>  | 50517 | 51386 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(d)</sup>  | 18779 | 19273 |
| Fannie Mae Pool #DB7039 6.00% 7/1/2054 <sup>(d)</sup>  | 10647 | 10873 |
| Fannie Mae Pool #BU4700 6.00% 7/1/2054 <sup>(d)</sup>  | 8575 | 8737 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(d)</sup>  | 5610 | 5757 |
| Fannie Mae Pool #DB5214 6.00% 7/1/2054 <sup>(d)</sup>  | 4575 | 4653 |
| Fannie Mae Pool #BU4707 6.00% 7/1/2054 <sup>(d)</sup>  | 4347 | 4424 |
| Fannie Mae Pool #DB6901 6.00% 7/1/2054 <sup>(d)</sup>  | 3638 | 3702 |
| Fannie Mae Pool #MA5422 6.50% 7/1/2054 <sup>(d)</sup>  | 351315 | 363103 |
| Fannie Mae Pool #FS8619 6.50% 7/1/2054 <sup>(d)</sup>  | 9873 | 10282 |
| Fannie Mae Pool #FS8607 6.50% 7/1/2054 <sup>(d)</sup>  | 7349 | 7653 |
| Fannie Mae Pool #FS8786 6.50% 7/1/2054 <sup>(d)</sup>  | 2669 | 2758 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(d)</sup>  | 1573 | 1638 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(d)</sup>  | 469 | 488 |
| Fannie Mae Pool #DB6947 6.50% 7/1/2054 <sup>(d)</sup>  | 437 | 453 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(d)</sup>  | 270 | 281 |
| Fannie Mae Pool #FS9819 7.00% 7/1/2054 <sup>(d)</sup>  | 314 | 331 |
| Fannie Mae Pool #CB8977 5.00% 8/1/2054 <sup>(d)</sup>  | 10783 | 10591 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(d)</sup>  | 2561 | 2569 |
| Fannie Mae Pool #MA5445 6.00% 8/1/2054 <sup>(d)</sup>  | 28717 | 29214 |
| Fannie Mae Pool #FS8757 6.00% 8/1/2054 <sup>(d)</sup>  | 20239 | 20721 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(d)</sup>  | 11470 | 11687 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(d)</sup>  | 9978 | 10167 |
| Fannie Mae Pool #FS8756 6.00% 8/1/2054 <sup>(d)</sup>  | 8269 | 8460 |
| Fannie Mae Pool #DB7687 6.00% 8/1/2054 <sup>(d)</sup>  | 5541 | 5678 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(d)</sup>  | 4394 | 4497 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(d)</sup>  | 4112 | 4209 |
| Fannie Mae Pool #DB7792 6.00% 8/1/2054 <sup>(d)</sup>  | 2744 | 2792 |
| Fannie Mae Pool #BU4968 6.00% 8/1/2054 <sup>(d)</sup>  | 864 | 879 |
| Fannie Mae Pool #FS8795 6.00% 8/1/2054 <sup>(d)</sup>  | 679 | 691 |
| Fannie Mae Pool #CB9071 6.50% 8/1/2054 <sup>(d)</sup>  | 12551 | 13074 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(d)</sup>  | 2256 | 2349 |
| Fannie Mae Pool #CB9210 5.50% 9/1/2054 <sup>(d)</sup>  | 42113 | 42248 |
| Fannie Mae Pool #FS9025 5.50% 9/1/2054 <sup>(d)</sup>  | 40932 | 41166 |
| Fannie Mae Pool #CB9146 5.50% 9/1/2054 <sup>(d)</sup>  | 25278 | 25417 |
| Fannie Mae Pool #FS9001 5.50% 9/1/2054 <sup>(d)</sup>  | 11347 | 11447 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(d)</sup>  | 10001 | 10008 |
| Fannie Mae Pool #BU4946 5.50% 9/1/2054 <sup>(d)</sup>  | 984 | 984 |

---

American Balanced Fund<sub>14</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #FS8866 6.00% 9/1/2054 <sup>(d)</sup>  | USD20,128 | $20594 |
| Fannie Mae Pool #FS9004 6.00% 9/1/2054 <sup>(d)</sup>  | 11123 | 11363 |
| Fannie Mae Pool #BU5048 6.00% 9/1/2054 <sup>(d)</sup>  | 6516 | 6655 |
| Fannie Mae Pool #DC1873 6.00% 9/1/2054 <sup>(d)</sup>  | 1414 | 1444 |
| Fannie Mae Pool #DC1349 6.50% 9/1/2054 <sup>(d)</sup>  | 1173 | 1213 |
| Fannie Mae Pool #BU5166 6.00% 10/1/2054 <sup>(d)</sup>  | 15475 | 15767 |
| Fannie Mae Pool #MA5498 6.00% 10/1/2054 <sup>(d)</sup>  | 6468 | 6578 |
| Fannie Mae Pool #BU5049 6.50% 10/1/2054 <sup>(d)</sup>  | 1545 | 1616 |
| Fannie Mae Pool #DC2693 4.00% 11/1/2054 <sup>(d)</sup>  | 1984 | 1847 |
| Fannie Mae Pool #DC5704 4.00% 11/1/2054 <sup>(d)</sup>  | 50 | 47 |
| Fannie Mae Pool #MA5530 5.00% 11/1/2054 <sup>(d)</sup>  | 167461 | 164257 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(d)</sup>  | 59623 | 59667 |
| Fannie Mae Pool #BU5165 5.50% 11/1/2054 <sup>(d)</sup>  | 7840 | 7854 |
| Fannie Mae Pool #CB9432 6.00% 11/1/2054 <sup>(d)</sup>  | 15780 | 16100 |
| Fannie Mae Pool #CB9418 6.50% 11/1/2054 <sup>(d)</sup>  | 14486 | 14972 |
| Fannie Mae Pool #CB9770 4.50% 12/1/2054 <sup>(d)</sup>  | 18276 | 17493 |
| Fannie Mae Pool #CB9768 4.50% 12/1/2054 <sup>(d)</sup>  | 6839 | 6553 |
| Fannie Mae Pool #DC7042 4.50% 12/1/2054 <sup>(d)</sup>  | 242 | 232 |
| Fannie Mae Pool #MA5552 5.00% 12/1/2054 <sup>(d)</sup>  | 110946 | 108832 |
| Fannie Mae Pool #BU5361 5.00% 12/1/2054 <sup>(d)</sup>  | 12712 | 12483 |
| Fannie Mae Pool #CB9616 5.50% 12/1/2054 <sup>(d)</sup>  | 24206 | 24241 |
| Fannie Mae Pool #BU5234 5.50% 12/1/2054 <sup>(d)</sup>  | 12708 | 12729 |
| Fannie Mae Pool #BU5360 5.50% 12/1/2054 <sup>(d)</sup>  | 12651 | 12669 |
| Fannie Mae Pool #BU5380 5.50% 12/1/2054 <sup>(d)</sup>  | 4368 | 4375 |
| Fannie Mae Pool #DC6856 5.50% 12/1/2054 <sup>(d)</sup>  | 376 | 376 |
| Fannie Mae Pool #DC6842 5.50% 12/1/2054 <sup>(d)</sup>  | 29 | 29 |
| Fannie Mae Pool #CB9675 6.00% 12/1/2054 <sup>(d)</sup>  | 36928 | 37835 |
| Fannie Mae Pool #FA0287 6.00% 12/1/2054 <sup>(d)</sup>  | 27343 | 27808 |
| Fannie Mae Pool #BU5233 6.00% 12/1/2054 <sup>(d)</sup>  | 18527 | 18877 |
| Fannie Mae Pool #DC7035 6.00% 12/1/2054 <sup>(d)</sup>  | 14316 | 14557 |
| Fannie Mae Pool #BU5358 6.00% 12/1/2054 <sup>(d)</sup>  | 8602 | 8765 |
| Fannie Mae Pool #DC7823 6.00% 12/1/2054 <sup>(d)</sup>  | 199 | 203 |
| Fannie Mae Pool #MA5583 4.00% 1/1/2055 <sup>(d)</sup>  | 2263 | 2106 |
| Fannie Mae Pool #CB9736 4.50% 1/1/2055 <sup>(d)</sup>  | 2936 | 2810 |
| Fannie Mae Pool #CB9737 5.00% 1/1/2055 <sup>(d)</sup>  | 22583 | 22177 |
| Fannie Mae Pool #CB9800 5.50% 1/1/2055 <sup>(d)</sup>  | 80368 | 80788 |
| Fannie Mae Pool #MA5586 5.50% 1/1/2055 <sup>(d)</sup>  | 49652 | 49677 |
| Fannie Mae Pool #CB9821 6.00% 1/1/2055 <sup>(d)</sup>  | 44773 | 45647 |
| Fannie Mae Pool #MA5587 6.00% 1/1/2055 <sup>(d)</sup>  | 27700 | 28170 |
| Fannie Mae Pool #DD0835 6.00% 1/1/2055 <sup>(d)</sup>  | 13102 | 13322 |
| Fannie Mae Pool #CB9840 6.50% 1/1/2055 <sup>(d)</sup>  | 52298 | 54049 |
| Fannie Mae Pool #CB9836 6.50% 1/1/2055 <sup>(d)</sup>  | 35270 | 36667 |
| Fannie Mae Pool #DC9721 6.50% 1/1/2055 <sup>(d)</sup>  | 4639 | 4796 |
| Fannie Mae Pool #FA0608 5.50% 2/1/2055 <sup>(d)</sup>  | 3651 | 3653 |
| Fannie Mae Pool #DD1746 5.50% 2/1/2055 <sup>(d)</sup>  | 500 | 503 |
| Fannie Mae Pool #MA5614 5.50% 2/1/2055 <sup>(d)</sup>  | 440 | 440 |
| Fannie Mae Pool #MA5615 6.00% 2/1/2055 <sup>(d)</sup>  | 142041 | 144439 |
| Fannie Mae Pool #MA5631 6.50% 2/1/2055 <sup>(d)</sup>  | 4819 | 4980 |
| Fannie Mae Pool #MA5643 4.00% 3/1/2055 <sup>(d)</sup>  | 21519 | 20024 |
| Fannie Mae Pool #MA5644 4.50% 3/1/2055 <sup>(d)</sup>  | 8082 | 7736 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(d)</sup>  | 67259 | 67293 |
| Fannie Mae Pool #MA5647 6.00% 3/1/2055 <sup>(d)</sup>  | 26488 | 26933 |
| Fannie Mae Pool #MA5670 4.00% 4/1/2055 <sup>(d)</sup>  | 18888 | 17575 |
| Fannie Mae Pool #MA5671 4.50% 4/1/2055 <sup>(d)</sup>  | 8498 | 8134 |
| Fannie Mae Pool #DD7388 5.00% 4/1/2055 <sup>(d)</sup>  | 332 | 326 |
| Fannie Mae Pool #MA5674 6.00% 4/1/2055 <sup>(d)</sup>  | 43897 | 44640 |
| Fannie Mae Pool #CC0354 6.50% 4/1/2055 <sup>(d)</sup>  | 6089 | 6292 |
| Fannie Mae Pool #MA5675 6.50% 4/1/2055 <sup>(d)</sup>  | 7 | 7 |
| Fannie Mae Pool #MA5699 5.00% 5/1/2055 <sup>(d)</sup>  | 25597 | 25103 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(d)</sup>  | 82464 | 83850 |
| Fannie Mae Pool #MA5734 5.00% 6/1/2055 <sup>(d)</sup>  | 19977 | 19591 |
| Fannie Mae Pool #MA5735 5.50% 6/1/2055 <sup>(d)</sup>  | 69659 | 69694 |
| Fannie Mae Pool #DD7303 5.50% 6/1/2055 <sup>(d)</sup>  | 6103 | 6106 |
| Fannie Mae Pool #MA5762 6.50% 7/1/2055 <sup>(d)</sup>  | 5999 | 6200 |
| Fannie Mae Pool #BF0133 4.00% 8/1/2056 <sup>(d)</sup>  | 25827 | 24113 |
| Fannie Mae Pool #BF0174 3.00% 2/1/2057 <sup>(d)</sup>  | 4693 | 3966 |

---

---

| | |
|:---|:---|
| **15** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #BF0177 3.00% 2/1/2057 <sup>(d)</sup>  | USD4,538 | $3947 |
| Fannie Mae Pool #BF0145 3.50% 3/1/2057 <sup>(d)</sup>  | 95753 | 85810 |
| Fannie Mae Pool #BF0189 3.00% 6/1/2057 <sup>(d)</sup>  | 7093 | 6117 |
| Fannie Mae Pool #BF0219 3.50% 9/1/2057 <sup>(d)</sup>  | 21472 | 19321 |
| Fannie Mae Pool #BF0226 3.50% 1/1/2058 <sup>(d)</sup>  | 6207 | 5596 |
| Fannie Mae Pool #BF0262 3.00% 5/1/2058 <sup>(d)</sup>  | 362 | 312 |
| Fannie Mae Pool #BF0332 3.00% 1/1/2059 <sup>(d)</sup>  | 53093 | 45790 |
| Fannie Mae Pool #BM6736 4.50% 11/1/2059 <sup>(d)</sup>  | 2819 | 2726 |
| Fannie Mae Pool #BF0481 3.50% 6/1/2060 <sup>(d)</sup>  | 66691 | 59670 |
| Fannie Mae Pool #BF0497 3.00% 7/1/2060 <sup>(d)</sup>  | 44397 | 38281 |
| Fannie Mae Pool #BF0546 2.50% 7/1/2061 <sup>(d)</sup>  | 24609 | 19572 |
| Fannie Mae Pool #BF0548 3.00% 7/1/2061 <sup>(d)</sup>  | 45809 | 38758 |
| Fannie Mae Pool #BF0547 3.00% 7/1/2061 <sup>(d)</sup>  | 28344 | 24649 |
| Fannie Mae Pool #BF0585 4.50% 12/1/2061 <sup>(d)</sup>  | 45807 | 43884 |
| Fannie Mae Pool #BF0762 3.00% 9/1/2063 <sup>(d)</sup>  | 14757 | 12486 |
| Fannie Mae Pool #BF0765 3.50% 9/1/2063 <sup>(d)</sup>  | 12283 | 10883 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(d)</sup>  | 14601 | 12936 |
| Fannie Mae Pool #BF0786 4.00% 12/1/2063 <sup>(d)</sup>  | 27988 | 25885 |
| Fannie Mae, Series 2017-M3, Class A2, Multi Family, 2.546% 12/25/2026 <sup>(d)(e)</sup>  | 26937 | 26273 |
| Fannie Mae, Series 2017-M7, Class A2, Multi Family, 2.961% 2/25/2027 <sup>(d)(e)</sup>  | 1983 | 1945 |
| Fannie Mae, Series 2017-M12, Class A2, Multi Family, 3.162% 6/25/2027 <sup>(d)(e)</sup>  | 2212 | 2167 |
| Fannie Mae, Series 2006-43, Class JO, principal only, 0% 6/25/2036 <sup>(d)</sup>  | 212 | 185 |
| Freddie Mac Pool #ZA1894 5.00% 8/1/2025 <sup>(d)</sup>  | — <br><sup>(f)</sup><br>| — <br><sup>(f)</sup><br>|
| Freddie Mac Pool #ZA1914 5.00% 12/1/2025 <sup>(d)</sup>  | — <br><sup>(f)</sup><br>| — <br><sup>(f)</sup><br>|
| Freddie Mac Pool #ZA1927 5.00% 3/1/2026 <sup>(d)</sup>  | 2 | 2 |
| Freddie Mac Pool #ZA1950 6.50% 8/1/2026 <sup>(d)</sup>  | 17 | 17 |
| Freddie Mac Pool #ZS8832 5.00% 3/1/2027 <sup>(d)</sup>  | 1 | 1 |
| Freddie Mac Pool #ZA1997 5.00% 4/1/2027 <sup>(d)</sup>  | 9 | 9 |
| Freddie Mac Pool #C91130 6.50% 12/1/2027 <sup>(d)</sup>  | 22 | 23 |
| Freddie Mac Pool #D97504 6.50% 12/1/2027 <sup>(d)</sup>  | 6 | 6 |
| Freddie Mac Pool #C91150 6.50% 1/1/2028 <sup>(d)</sup>  | 24 | 25 |
| Freddie Mac Pool #G16210 3.50% 6/1/2032 <sup>(d)</sup>  | 21 | 21 |
| Freddie Mac Pool #ZA2384 3.50% 6/1/2035 <sup>(d)</sup>  | 148 | 144 |
| Freddie Mac Pool #A56076 5.50% 1/1/2037 <sup>(d)</sup>  | 8 | 8 |
| Freddie Mac Pool #C91917 3.00% 2/1/2037 <sup>(d)</sup>  | 5417 | 5137 |
| Freddie Mac Pool #C91912 3.00% 2/1/2037 <sup>(d)</sup>  | 2677 | 2539 |
| Freddie Mac Pool #G06028 5.50% 7/1/2037 <sup>(d)</sup>  | 121 | 124 |
| Freddie Mac Pool #SB1388 2.50% 1/1/2038 <sup>(d)</sup>  | 1082 | 1011 |
| Freddie Mac Pool #G08248 5.50% 2/1/2038 <sup>(d)</sup>  | 33 | 33 |
| Freddie Mac Pool #ZA2505 3.50% 5/1/2038 <sup>(d)</sup>  | 56 | 54 |
| Freddie Mac Pool #ZT1449 3.00% 6/1/2038 <sup>(d)</sup>  | 5602 | 5286 |
| Freddie Mac Pool #G04552 6.00% 9/1/2038 <sup>(d)</sup>  | 277 | 291 |
| Freddie Mac Pool #G05979 5.50% 10/1/2038 <sup>(d)</sup>  | 16 | 16 |
| Freddie Mac Pool #G05546 5.50% 7/1/2039 <sup>(d)</sup>  | 66 | 68 |
| Freddie Mac Pool #A90351 4.50% 1/1/2040 <sup>(d)</sup>  | 97 | 96 |
| Freddie Mac Pool #G05937 4.50% 8/1/2040 <sup>(d)</sup>  | 1752 | 1750 |
| Freddie Mac Pool #RB5071 2.00% 9/1/2040 <sup>(d)</sup>  | 84927 | 73675 |
| Freddie Mac Pool #A97543 4.50% 3/1/2041 <sup>(d)</sup>  | 148 | 151 |
| Freddie Mac Pool #A97669 4.50% 3/1/2041 <sup>(d)</sup>  | 120 | 120 |
| Freddie Mac Pool #Q01190 4.50% 6/1/2041 <sup>(d)</sup>  | 70 | 70 |
| Freddie Mac Pool #Q01160 5.00% 6/1/2041 <sup>(d)</sup>  | 114 | 115 |
| Freddie Mac Pool #SC0148 2.00% 7/1/2041 <sup>(d)</sup>  | 2070 | 1787 |
| Freddie Mac Pool #Q03821 4.50% 10/1/2041 <sup>(d)</sup>  | 272 | 271 |
| Freddie Mac Pool #Q03795 4.50% 10/1/2041 <sup>(d)</sup>  | 17 | 16 |
| Freddie Mac Pool #Q11220 3.50% 9/1/2042 <sup>(d)</sup>  | 347 | 326 |
| Freddie Mac Pool #V80026 3.00% 4/1/2043 <sup>(d)</sup>  | 22 | 20 |
| Freddie Mac Pool #G07921 3.50% 4/1/2043 <sup>(d)</sup>  | 288 | 271 |
| Freddie Mac Pool #Q23190 4.00% 11/1/2043 <sup>(d)</sup>  | 170 | 164 |
| Freddie Mac Pool #Q23185 4.00% 11/1/2043 <sup>(d)</sup>  | 129 | 124 |
| Freddie Mac Pool #Q26734 4.00% 6/1/2044 <sup>(d)</sup>  | 1433 | 1369 |
| Freddie Mac Pool #SD0480 3.50% 6/1/2045 <sup>(d)</sup>  | 7305 | 6854 |
| Freddie Mac Pool #760014 3.889% 8/1/2045 <sup>(d)(e)</sup>  | 559 | 557 |
| Freddie Mac Pool #Q37988 4.00% 12/1/2045 <sup>(d)</sup>  | 2941 | 2800 |
| Freddie Mac Pool #G60344 4.00% 12/1/2045 <sup>(d)</sup>  | 2810 | 2682 |
| Freddie Mac Pool #Z40130 3.00% 1/1/2046 <sup>(d)</sup>  | 11027 | 10021 |
| Freddie Mac Pool #Q40476 4.00% 4/1/2046 <sup>(d)</sup>  | 2302 | 2187 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **16** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #Q40458 4.00% 4/1/2046 <sup>(d)</sup>  | USD514 | $488 |
| Freddie Mac Pool #G60744 3.50% 7/1/2046 <sup>(d)</sup>  | 1461 | 1352 |
| Freddie Mac Pool #Q41909 4.50% 7/1/2046 <sup>(d)</sup>  | 250 | 244 |
| Freddie Mac Pool #V82628 4.00% 9/1/2046 <sup>(d)</sup>  | 6491 | 6165 |
| Freddie Mac Pool #760015 3.45% 1/1/2047 <sup>(d)(e)</sup>  | 3892 | 3793 |
| Freddie Mac Pool #G60928 4.50% 4/1/2047 <sup>(d)</sup>  | 1886 | 1845 |
| Freddie Mac Pool #ZS4726 3.50% 7/1/2047 <sup>(d)</sup>  | 19 | 18 |
| Freddie Mac Pool #G08775 4.00% 8/1/2047 <sup>(d)</sup>  | 8945 | 8456 |
| Freddie Mac Pool #G61295 3.50% 9/1/2047 <sup>(d)</sup>  | 4684 | 4353 |
| Freddie Mac Pool #ZS4735 3.50% 9/1/2047 <sup>(d)</sup>  | 120 | 110 |
| Freddie Mac Pool #V83507 4.00% 10/1/2047 <sup>(d)</sup>  | 1437 | 1363 |
| Freddie Mac Pool #G61733 3.00% 12/1/2047 <sup>(d)</sup>  | 13892 | 12439 |
| Freddie Mac Pool #ZS4747 3.50% 12/1/2047 <sup>(d)</sup>  | 13652 | 12540 |
| Freddie Mac Pool #G61662 3.50% 2/1/2048 <sup>(d)</sup>  | 4381 | 4035 |
| Freddie Mac Pool #Q54547 4.00% 3/1/2048 <sup>(d)</sup>  | 6820 | 6461 |
| Freddie Mac Pool #SI2002 4.00% 3/1/2048 <sup>(d)</sup>  | 25 | 24 |
| Freddie Mac Pool #G61628 3.50% 9/1/2048 <sup>(d)</sup>  | 4936 | 4546 |
| Freddie Mac Pool #Z40273 4.50% 10/1/2048 <sup>(d)</sup>  | 2196 | 2139 |
| Freddie Mac Pool #ZA5889 4.00% 11/1/2048 <sup>(d)</sup>  | 2987 | 2827 |
| Freddie Mac Pool #V85664 3.50% 6/1/2049 <sup>(d)</sup>  | 22020 | 20240 |
| Freddie Mac Pool #SD7506 4.00% 9/1/2049 <sup>(d)</sup>  | 36429 | 34430 |
| Freddie Mac Pool #SD7508 3.50% 10/1/2049 <sup>(d)</sup>  | 7478 | 6896 |
| Freddie Mac Pool #RA1744 4.00% 11/1/2049 <sup>(d)</sup>  | 530 | 499 |
| Freddie Mac Pool #QA5118 3.50% 12/1/2049 <sup>(d)</sup>  | 29278 | 26727 |
| Freddie Mac Pool #QB1968 2.50% 7/1/2050 <sup>(d)</sup>  | 8250 | 6862 |
| Freddie Mac Pool #RA3055 2.50% 7/1/2050 <sup>(d)</sup>  | 2749 | 2287 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(d)</sup>  | 1692 | 1481 |
| Freddie Mac Pool #SI2062 2.00% 9/1/2050 <sup>(d)</sup>  | 13432 | 10765 |
| Freddie Mac Pool #QB3745 2.50% 9/1/2050 <sup>(d)</sup>  | 110 | 92 |
| Freddie Mac Pool #RA3611 2.50% 9/1/2050 <sup>(d)</sup>  | 46 | 39 |
| Freddie Mac Pool #RA3506 3.00% 9/1/2050 <sup>(d)</sup>  | 5654 | 4946 |
| Freddie Mac Pool #SI2080 2.00% 10/1/2050 <sup>(d)</sup>  | 13813 | 11097 |
| Freddie Mac Pool #QB4072 2.50% 10/1/2050 <sup>(d)</sup>  | 1943 | 1614 |
| Freddie Mac Pool #SD7528 2.00% 11/1/2050 <sup>(d)</sup>  | 85894 | 69199 |
| Freddie Mac Pool #SD8106 2.00% 11/1/2050 <sup>(d)</sup>  | 78466 | 62639 |
| Freddie Mac Pool #QB4886 2.00% 11/1/2050 <sup>(d)</sup>  | 335 | 265 |
| Freddie Mac Pool #RA4070 2.50% 11/1/2050 <sup>(d)</sup>  | 17215 | 14436 |
| Freddie Mac Pool #RA3987 2.50% 11/1/2050 <sup>(d)</sup>  | 16123 | 13500 |
| Freddie Mac Pool #QB7053 2.00% 12/1/2050 <sup>(d)</sup>  | 1521 | 1205 |
| Freddie Mac Pool #QB7148 2.00% 12/1/2050 <sup>(d)</sup>  | 366 | 290 |
| Freddie Mac Pool #RA4206 2.50% 12/1/2050 <sup>(d)</sup>  | 7717 | 6413 |
| Freddie Mac Pool #RA4216 2.50% 12/1/2050 <sup>(d)</sup>  | 339 | 284 |
| Freddie Mac Pool #RA4352 2.00% 1/1/2051 <sup>(d)</sup>  | 19849 | 15919 |
| Freddie Mac Pool #QB8132 2.00% 1/1/2051 <sup>(d)</sup>  | 596 | 473 |
| Freddie Mac Pool #QB8605 2.00% 2/1/2051 <sup>(d)</sup>  | 14032 | 11275 |
| Freddie Mac Pool #SD8128 2.00% 2/1/2051 <sup>(d)</sup>  | 5109 | 4072 |
| Freddie Mac Pool #SD1729 2.50% 2/1/2051 <sup>(d)</sup>  | 42949 | 36004 |
| Freddie Mac Pool #QB8934 2.50% 2/1/2051 <sup>(d)</sup>  | 68 | 56 |
| Freddie Mac Pool #SD8134 2.00% 3/1/2051 <sup>(d)</sup>  | 40968 | 32628 |
| Freddie Mac Pool #QB9901 2.50% 3/1/2051 <sup>(d)</sup>  | 428 | 355 |
| Freddie Mac Pool #SD0578 2.50% 3/1/2051 <sup>(d)</sup>  | 68 | 56 |
| Freddie Mac Pool #RA4912 3.00% 3/1/2051 <sup>(d)</sup>  | 950 | 824 |
| Freddie Mac Pool #SI2108 2.50% 4/1/2051 <sup>(d)</sup>  | 12256 | 10184 |
| Freddie Mac Pool #QC0292 2.50% 4/1/2051 <sup>(d)</sup>  | 9345 | 7807 |
| Freddie Mac Pool #QC0576 2.50% 4/1/2051 <sup>(d)</sup>  | 103 | 85 |
| Freddie Mac Pool #RA5288 2.00% 5/1/2051 <sup>(d)</sup>  | 10297 | 8280 |
| Freddie Mac Pool #QC1665 2.00% 5/1/2051 <sup>(d)</sup>  | 574 | 455 |
| Freddie Mac Pool #RA5259 2.50% 5/1/2051 <sup>(d)</sup>  | 184318 | 154513 |
| Freddie Mac Pool #RA5219 2.50% 5/1/2051 <sup>(d)</sup>  | 10542 | 8796 |
| Freddie Mac Pool #RA5275 2.50% 5/1/2051 <sup>(d)</sup>  | 815 | 677 |
| Freddie Mac Pool #QC1924 2.50% 5/1/2051 <sup>(d)</sup>  | 466 | 387 |
| Freddie Mac Pool #RA5267 3.00% 5/1/2051 <sup>(d)</sup>  | 3457 | 3020 |
| Freddie Mac Pool #QC3532 2.50% 6/1/2051 <sup>(d)</sup>  | 1968 | 1635 |
| Freddie Mac Pool #SI2032 2.50% 6/1/2051 <sup>(d)</sup>  | 451 | 375 |
| Freddie Mac Pool #QC3428 2.50% 6/1/2051 <sup>(d)</sup>  | 301 | 250 |
| Freddie Mac Pool #RA5391 3.00% 6/1/2051 <sup>(d)</sup>  | 382 | 331 |

---

---

| | |
|:---|:---|
| **17** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #RA5559 2.50% 7/1/2051 <sup>(d)</sup>  | USD15,654 | $12997 |
| Freddie Mac Pool #QC3654 2.50% 7/1/2051 <sup>(d)</sup>  | 1549 | 1286 |
| Freddie Mac Pool #QC4231 2.50% 7/1/2051 <sup>(d)</sup>  | 467 | 388 |
| Freddie Mac Pool #SD7544 3.00% 7/1/2051 <sup>(d)</sup>  | 13493 | 11912 |
| Freddie Mac Pool #QC5574 2.50% 8/1/2051 <sup>(d)</sup>  | 18854 | 15654 |
| Freddie Mac Pool #QC5137 2.50% 8/1/2051 <sup>(d)</sup>  | 4858 | 4035 |
| Freddie Mac Pool #QC5142 2.50% 8/1/2051 <sup>(d)</sup>  | 117 | 97 |
| Freddie Mac Pool #SD0665 3.00% 8/1/2051 <sup>(d)</sup>  | 18142 | 15867 |
| Freddie Mac Pool #SD7545 2.50% 9/1/2051 <sup>(d)</sup>  | 59893 | 50546 |
| Freddie Mac Pool #RA5836 2.50% 9/1/2051 <sup>(d)</sup>  | 57768 | 48561 |
| Freddie Mac Pool #RA5782 2.50% 9/1/2051 <sup>(d)</sup>  | 15488 | 13048 |
| Freddie Mac Pool #RA5759 2.50% 9/1/2051 <sup>(d)</sup>  | 4794 | 3980 |
| Freddie Mac Pool #QC6761 2.50% 9/1/2051 <sup>(d)</sup>  | 1487 | 1234 |
| Freddie Mac Pool #QC6516 2.50% 9/1/2051 <sup>(d)</sup>  | 939 | 779 |
| Freddie Mac Pool #QC6225 2.50% 9/1/2051 <sup>(d)</sup>  | 839 | 697 |
| Freddie Mac Pool #SD2963 2.50% 9/1/2051 <sup>(d)</sup>  | 815 | 676 |
| Freddie Mac Pool #SD5485 2.50% 9/1/2051 <sup>(d)</sup>  | 767 | 641 |
| Freddie Mac Pool #RA5767 2.50% 9/1/2051 <sup>(d)</sup>  | 348 | 289 |
| Freddie Mac Pool #QC6597 2.50% 9/1/2051 <sup>(d)</sup>  | 26 | 21 |
| Freddie Mac Pool #RA5971 3.00% 9/1/2051 <sup>(d)</sup>  | 19041 | 16760 |
| Freddie Mac Pool #RA5901 3.00% 9/1/2051 <sup>(d)</sup>  | 3321 | 2902 |
| Freddie Mac Pool #SD8172 2.00% 10/1/2051 <sup>(d)</sup>  | 8755 | 6965 |
| Freddie Mac Pool #QC8489 2.50% 10/1/2051 <sup>(d)</sup>  | 48770 | 40968 |
| Freddie Mac Pool #SD1345 2.50% 10/1/2051 <sup>(d)</sup>  | 14278 | 11854 |
| Freddie Mac Pool #QC8618 2.50% 10/1/2051 <sup>(d)</sup>  | 6215 | 5187 |
| Freddie Mac Pool #SD6078 2.50% 10/1/2051 <sup>(d)</sup>  | 777 | 645 |
| Freddie Mac Pool #QC9156 2.50% 10/1/2051 <sup>(d)</sup>  | 204 | 170 |
| Freddie Mac Pool #SD2880 3.00% 10/1/2051 <sup>(d)</sup>  | 47838 | 41789 |
| Freddie Mac Pool #SD0734 3.00% 10/1/2051 <sup>(d)</sup>  | 4260 | 3749 |
| Freddie Mac Pool #RA6406 2.00% 11/1/2051 <sup>(d)</sup>  | 1089 | 869 |
| Freddie Mac Pool #SD7548 2.50% 11/1/2051 <sup>(d)</sup>  | 209184 | 176839 |
| Freddie Mac Pool #RA6347 3.00% 11/1/2051 <sup>(d)</sup>  | 3800 | 3321 |
| Freddie Mac Pool #QD2074 2.00% 12/1/2051 <sup>(d)</sup>  | 104 | 83 |
| Freddie Mac Pool #QD2433 2.00% 12/1/2051 <sup>(d)</sup>  | 38 | 30 |
| Freddie Mac Pool #RA6483 2.50% 12/1/2051 <sup>(d)</sup>  | 59272 | 49789 |
| Freddie Mac Pool #QD3540 2.50% 12/1/2051 <sup>(d)</sup>  | 2570 | 2144 |
| Freddie Mac Pool #QD3310 3.00% 12/1/2051 <sup>(d)</sup>  | 7882 | 6840 |
| Freddie Mac Pool #SD2152 3.00% 12/1/2051 <sup>(d)</sup>  | 129 | 113 |
| Freddie Mac Pool #QD4747 2.00% 1/1/2052 <sup>(d)</sup>  | 13837 | 10968 |
| Freddie Mac Pool #QD5035 2.00% 1/1/2052 <sup>(d)</sup>  | 404 | 320 |
| Freddie Mac Pool #SD0855 2.50% 1/1/2052 <sup>(d)</sup>  | 23520 | 19621 |
| Freddie Mac Pool #SD7552 2.50% 1/1/2052 <sup>(d)</sup>  | 7798 | 6568 |
| Freddie Mac Pool #SD2629 2.50% 1/1/2052 <sup>(d)</sup>  | 5713 | 4745 |
| Freddie Mac Pool #RA6614 2.50% 1/1/2052 <sup>(d)</sup>  | 2949 | 2452 |
| Freddie Mac Pool #QD5204 2.50% 1/1/2052 <sup>(d)</sup>  | 587 | 487 |
| Freddie Mac Pool #SD0813 3.00% 1/1/2052 <sup>(d)</sup>  | 9087 | 7993 |
| Freddie Mac Pool #QD6093 2.00% 2/1/2052 <sup>(d)</sup>  | 16526 | 13099 |
| Freddie Mac Pool #RA6913 2.00% 2/1/2052 <sup>(d)</sup>  | 6061 | 4810 |
| Freddie Mac Pool #QD8489 2.00% 2/1/2052 <sup>(d)</sup>  | 1514 | 1201 |
| Freddie Mac Pool #RA6114 2.00% 2/1/2052 <sup>(d)</sup>  | 775 | 614 |
| Freddie Mac Pool #QD7213 2.00% 2/1/2052 <sup>(d)</sup>  | 319 | 253 |
| Freddie Mac Pool #SD2962 2.50% 2/1/2052 <sup>(d)</sup>  | 1192 | 992 |
| Freddie Mac Pool #QD6813 2.50% 2/1/2052 <sup>(d)</sup>  | 538 | 452 |
| Freddie Mac Pool #QD7397 2.50% 2/1/2052 <sup>(d)</sup>  | 442 | 371 |
| Freddie Mac Pool #RA6900 2.50% 2/1/2052 <sup>(d)</sup>  | 416 | 347 |
| Freddie Mac Pool #SD0868 2.50% 2/1/2052 <sup>(d)</sup>  | 220 | 183 |
| Freddie Mac Pool #RA6865 2.50% 2/1/2052 <sup>(d)</sup>  | 218 | 181 |
| Freddie Mac Pool #SD8194 2.50% 2/1/2052 <sup>(d)</sup>  | 66 | 55 |
| Freddie Mac Pool #RA6664 3.00% 2/1/2052 <sup>(d)</sup>  | 90824 | 79168 |
| Freddie Mac Pool #SD2321 3.00% 2/1/2052 <sup>(d)</sup>  | 236 | 204 |
| Freddie Mac Pool #QD7089 3.50% 2/1/2052 <sup>(d)</sup>  | 4158 | 3775 |
| Freddie Mac Pool #QD8873 3.50% 2/1/2052 <sup>(d)</sup>  | 12 | 11 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(d)</sup>  | 11990 | 9524 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(d)</sup>  | 4219 | 3347 |
| Freddie Mac Pool #SD4071 2.00% 3/1/2052 <sup>(d)</sup>  | 2000 | 1585 |
| Freddie Mac Pool #SD5745 2.00% 3/1/2052 <sup>(d)</sup>  | 115 | 91 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **18** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #RA7021 2.50% 3/1/2052 <sup>(d)</sup>  | USD793 | $659 |
| Freddie Mac Pool #QD8206 2.50% 3/1/2052 <sup>(d)</sup>  | 649 | 541 |
| Freddie Mac Pool #SD8200 2.50% 3/1/2052 <sup>(d)</sup>  | 141 | 118 |
| Freddie Mac Pool #RA8942 2.50% 3/1/2052 <sup>(d)</sup>  | 128 | 106 |
| Freddie Mac Pool #RA7091 2.50% 3/1/2052 <sup>(d)</sup>  | 34 | 29 |
| Freddie Mac Pool #SD7553 3.00% 3/1/2052 <sup>(d)</sup>  | 42299 | 37257 |
| Freddie Mac Pool #SD7554 2.50% 4/1/2052 <sup>(d)</sup>  | 32532 | 27419 |
| Freddie Mac Pool #QE0292 2.50% 4/1/2052 <sup>(d)</sup>  | 3009 | 2505 |
| Freddie Mac Pool #QE0327 2.50% 4/1/2052 <sup>(d)</sup>  | 2126 | 1764 |
| Freddie Mac Pool #SD3478 2.50% 4/1/2052 <sup>(d)</sup>  | 1911 | 1586 |
| Freddie Mac Pool #QE2317 2.50% 4/1/2052 <sup>(d)</sup>  | 1264 | 1052 |
| Freddie Mac Pool #QE0812 2.50% 4/1/2052 <sup>(d)</sup>  | 1161 | 966 |
| Freddie Mac Pool #SD8205 2.50% 4/1/2052 <sup>(d)</sup>  | 508 | 422 |
| Freddie Mac Pool #QE2101 2.50% 4/1/2052 <sup>(d)</sup>  | 390 | 325 |
| Freddie Mac Pool #QE0407 2.50% 4/1/2052 <sup>(d)</sup>  | 369 | 309 |
| Freddie Mac Pool #QE1005 2.50% 4/1/2052 <sup>(d)</sup>  | 282 | 234 |
| Freddie Mac Pool #QD9323 2.50% 4/1/2052 <sup>(d)</sup>  | 209 | 174 |
| Freddie Mac Pool #QE0025 2.50% 4/1/2052 <sup>(d)</sup>  | 92 | 77 |
| Freddie Mac Pool #QE0521 2.50% 4/1/2052 <sup>(d)</sup>  | 24 | 20 |
| Freddie Mac Pool #QD9576 3.00% 4/1/2052 <sup>(d)</sup>  | 8716 | 7560 |
| Freddie Mac Pool #SD1156 3.00% 4/1/2052 <sup>(d)</sup>  | 144 | 125 |
| Freddie Mac Pool #SD8212 2.50% 5/1/2052 <sup>(d)</sup>  | 712 | 593 |
| Freddie Mac Pool #QE1859 2.50% 5/1/2052 <sup>(d)</sup>  | 365 | 304 |
| Freddie Mac Pool #QE2112 2.50% 5/1/2052 <sup>(d)</sup>  | 200 | 166 |
| Freddie Mac Pool #QE2352 2.50% 5/1/2052 <sup>(d)</sup>  | 139 | 115 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(d)</sup>  | 82960 | 71961 |
| Freddie Mac Pool #QE2327 3.00% 5/1/2052 <sup>(d)</sup>  | 85 | 74 |
| Freddie Mac Pool #QE2333 3.00% 5/1/2052 <sup>(d)</sup>  | 56 | 49 |
| Freddie Mac Pool #RA7399 4.00% 5/1/2052 <sup>(d)</sup>  | 31832 | 29807 |
| Freddie Mac Pool #QE2335 4.00% 5/1/2052 <sup>(d)</sup>  | 28850 | 27013 |
| Freddie Mac Pool #SD6496 2.00% 6/1/2052 <sup>(d)</sup>  | 43177 | 34317 |
| Freddie Mac Pool #SD5109 2.00% 6/1/2052 <sup>(d)</sup>  | 12876 | 10224 |
| Freddie Mac Pool #SD4807 2.00% 6/1/2052 <sup>(d)</sup>  | 4533 | 3609 |
| Freddie Mac Pool #QE4044 2.50% 6/1/2052 <sup>(d)</sup>  | 10482 | 8720 |
| Freddie Mac Pool #SD8219 2.50% 6/1/2052 <sup>(d)</sup>  | 7864 | 6542 |
| Freddie Mac Pool #QE5159 2.50% 6/1/2052 <sup>(d)</sup>  | 292 | 243 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(d)</sup>  | 74289 | 64363 |
| Freddie Mac Pool #SD6203 3.00% 6/1/2052 <sup>(d)</sup>  | 623 | 540 |
| Freddie Mac Pool #QE4036 3.00% 6/1/2052 <sup>(d)</sup>  | 503 | 436 |
| Freddie Mac Pool #SD3245 4.00% 6/1/2052 <sup>(d)</sup>  | 37980 | 35935 |
| Freddie Mac Pool #RA7468 4.00% 6/1/2052 <sup>(d)</sup>  | 6061 | 5650 |
| Freddie Mac Pool #QE4383 4.00% 6/1/2052 <sup>(d)</sup>  | 798 | 744 |
| Freddie Mac Pool #SD1288 4.00% 6/1/2052 <sup>(d)</sup>  | 258 | 241 |
| Freddie Mac Pool #RA7502 5.00% 6/1/2052 <sup>(d)</sup>  | 841 | 829 |
| Freddie Mac Pool #SD2600 2.50% 7/1/2052 <sup>(d)</sup>  | 1360 | 1129 |
| Freddie Mac Pool #SD3632 2.50% 7/1/2052 <sup>(d)</sup>  | 156 | 130 |
| Freddie Mac Pool #SD8224 2.50% 7/1/2052 <sup>(d)</sup>  | 34 | 28 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(d)</sup>  | 77888 | 67554 |
| Freddie Mac Pool #RA7668 4.00% 7/1/2052 <sup>(d)</sup>  | 12525 | 11680 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(d)</sup>  | 1038 | 824 |
| Freddie Mac Pool #QE8026 2.50% 8/1/2052 <sup>(d)</sup>  | 4080 | 3395 |
| Freddie Mac Pool #QE8522 2.50% 8/1/2052 <sup>(d)</sup>  | 699 | 582 |
| Freddie Mac Pool #SD8234 2.50% 8/1/2052 <sup>(d)</sup>  | 227 | 188 |
| Freddie Mac Pool #SD7556 3.00% 8/1/2052 <sup>(d)</sup>  | 21514 | 18846 |
| Freddie Mac Pool #SD1766 4.00% 8/1/2052 <sup>(d)</sup>  | 12434 | 11648 |
| Freddie Mac Pool #SD1441 4.00% 8/1/2052 <sup>(d)</sup>  | 1523 | 1418 |
| Freddie Mac Pool #SD4554 4.00% 8/1/2052 <sup>(d)</sup>  | 54 | 50 |
| Freddie Mac Pool #QE7976 4.50% 8/1/2052 <sup>(d)</sup>  | 35493 | 34157 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(d)</sup>  | 7712 | 7392 |
| Freddie Mac Pool #SD6082 2.50% 9/1/2052 <sup>(d)</sup>  | 784 | 651 |
| Freddie Mac Pool #SD1581 2.50% 9/1/2052 <sup>(d)</sup>  | 623 | 517 |
| Freddie Mac Pool #SD8262 2.50% 9/1/2052 <sup>(d)</sup>  | 297 | 247 |
| Freddie Mac Pool #SD5931 2.50% 9/1/2052 <sup>(d)</sup>  | 41 | 34 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(d)</sup>  | 11864 | 10290 |
| Freddie Mac Pool #QF0323 4.00% 9/1/2052 <sup>(d)</sup>  | 827 | 770 |
| Freddie Mac Pool #SD8244 4.00% 9/1/2052 <sup>(d)</sup>  | 225 | 210 |

---

---

| | |
|:---|:---|
| **19** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(d)</sup>  | USD8,886 | $8517 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(d)</sup>  | 5196 | 4983 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(d)</sup>  | 4481 | 4296 |
| Freddie Mac Pool #RA7938 5.00% 9/1/2052 <sup>(d)</sup>  | 50670 | 49914 |
| Freddie Mac Pool #SD8271 2.50% 10/1/2052 <sup>(d)</sup>  | 18045 | 14981 |
| Freddie Mac Pool #SD2079 4.00% 10/1/2052 <sup>(d)</sup>  | 1392 | 1298 |
| Freddie Mac Pool #SD8256 4.00% 10/1/2052 <sup>(d)</sup>  | 1159 | 1081 |
| Freddie Mac Pool #QF2221 4.00% 10/1/2052 <sup>(d)</sup>  | 948 | 884 |
| Freddie Mac Pool #QF1489 4.00% 10/1/2052 <sup>(d)</sup>  | 14 | 13 |
| Freddie Mac Pool #QF1236 4.50% 10/1/2052 <sup>(d)</sup>  | 6435 | 6168 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(d)</sup>  | 3445 | 3303 |
| Freddie Mac Pool #SD8265 4.00% 11/1/2052 <sup>(d)</sup>  | 367 | 342 |
| Freddie Mac Pool #SD1897 4.50% 11/1/2052 <sup>(d)</sup>  | 130408 | 127243 |
| Freddie Mac Pool #SD1895 4.50% 11/1/2052 <sup>(d)</sup>  | 26827 | 26216 |
| Freddie Mac Pool #SD8266 4.50% 11/1/2052 <sup>(d)</sup>  | 19241 | 18452 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(d)</sup>  | 3005 | 2604 |
| Freddie Mac Pool #SD8272 3.00% 12/1/2052 <sup>(d)</sup>  | 354 | 307 |
| Freddie Mac Pool #SD4116 4.50% 12/1/2052 <sup>(d)</sup>  | 34712 | 33291 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(d)</sup>  | 52270 | 51505 |
| Freddie Mac Pool #QF5340 5.00% 12/1/2052 <sup>(d)</sup>  | 23181 | 22848 |
| Freddie Mac Pool #QF5830 5.00% 12/1/2052 <sup>(d)</sup>  | 1134 | 1118 |
| Freddie Mac Pool #RA8303 5.50% 12/1/2052 <sup>(d)</sup>  | 31622 | 31850 |
| Freddie Mac Pool #SD1961 5.50% 12/1/2052 <sup>(d)</sup>  | 4996 | 5001 |
| Freddie Mac Pool #QF4136 5.50% 12/1/2052 <sup>(d)</sup>  | 1267 | 1269 |
| Freddie Mac Pool #RA8309 6.00% 12/1/2052 <sup>(d)</sup>  | 11196 | 11487 |
| Freddie Mac Pool #SD8303 2.50% 1/1/2053 <sup>(d)</sup>  | 567 | 471 |
| Freddie Mac Pool #SD8287 4.50% 1/1/2053 <sup>(d)</sup>  | 27006 | 25899 |
| Freddie Mac Pool #QF5672 5.00% 1/1/2053 <sup>(d)</sup>  | 124601 | 122748 |
| Freddie Mac Pool #SD2571 5.00% 1/1/2053 <sup>(d)</sup>  | 11810 | 11667 |
| Freddie Mac Pool #QF5717 5.00% 1/1/2053 <sup>(d)</sup>  | 1211 | 1192 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(d)</sup>  | 344 | 339 |
| Freddie Mac Pool #QF5394 5.50% 1/1/2053 <sup>(d)</sup>  | 1386 | 1391 |
| Freddie Mac Pool #QF5680 5.50% 1/1/2053 <sup>(d)</sup>  | 1199 | 1202 |
| Freddie Mac Pool #QF5251 5.50% 1/1/2053 <sup>(d)</sup>  | 608 | 610 |
| Freddie Mac Pool #QF6796 5.50% 1/1/2053 <sup>(d)</sup>  | 276 | 277 |
| Freddie Mac Pool #QF7871 2.50% 2/1/2053 <sup>(d)</sup>  | 70 | 58 |
| Freddie Mac Pool #RA8625 2.50% 2/1/2053 <sup>(d)</sup>  | 49 | 41 |
| Freddie Mac Pool #QF8523 4.00% 2/1/2053 <sup>(d)</sup>  | 1425 | 1328 |
| Freddie Mac Pool #RA8534 5.00% 2/1/2053 <sup>(d)</sup>  | 154720 | 152438 |
| Freddie Mac Pool #SD8299 5.00% 2/1/2053 <sup>(d)</sup>  | 13135 | 12924 |
| Freddie Mac Pool #RA8544 5.50% 2/1/2053 <sup>(d)</sup>  | 32248 | 32371 |
| Freddie Mac Pool #QF7774 5.50% 2/1/2053 <sup>(d)</sup>  | 3544 | 3558 |
| Freddie Mac Pool #QF8331 5.50% 2/1/2053 <sup>(d)</sup>  | 2687 | 2692 |
| Freddie Mac Pool #QF7048 5.50% 2/1/2053 <sup>(d)</sup>  | 78 | 79 |
| Freddie Mac Pool #QF8056 6.00% 2/1/2053 <sup>(d)</sup>  | 20892 | 21299 |
| Freddie Mac Pool #QF8050 6.00% 2/1/2053 <sup>(d)</sup>  | 7861 | 8014 |
| Freddie Mac Pool #RA8676 2.50% 3/1/2053 <sup>(d)</sup>  | 665 | 553 |
| Freddie Mac Pool #RA8666 4.00% 3/1/2053 <sup>(d)</sup>  | 9588 | 8937 |
| Freddie Mac Pool #SD8305 4.00% 3/1/2053 <sup>(d)</sup>  | 1597 | 1486 |
| Freddie Mac Pool #QF8926 4.50% 3/1/2053 <sup>(d)</sup>  | 3438 | 3309 |
| Freddie Mac Pool #QF8936 4.50% 3/1/2053 <sup>(d)</sup>  | 164 | 158 |
| Freddie Mac Pool #QF8462 5.50% 3/1/2053 <sup>(d)</sup>  | 16283 | 16311 |
| Freddie Mac Pool #QF8552 5.50% 3/1/2053 <sup>(d)</sup>  | 443 | 446 |
| Freddie Mac Pool #QF9076 5.50% 3/1/2053 <sup>(d)</sup>  | 73 | 73 |
| Freddie Mac Pool #QF8554 5.50% 3/1/2053 <sup>(d)</sup>  | 64 | 64 |
| Freddie Mac Pool #RA9021 2.50% 4/1/2053 <sup>(d)</sup>  | 595 | 495 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(d)</sup>  | 10574 | 10450 |
| Freddie Mac Pool #SD3314 5.50% 4/1/2053 <sup>(d)</sup>  | 52470 | 52671 |
| Freddie Mac Pool #QG1023 5.50% 4/1/2053 <sup>(d)</sup>  | 7318 | 7332 |
| Freddie Mac Pool #QG0979 5.50% 4/1/2053 <sup>(d)</sup>  | 234 | 234 |
| Freddie Mac Pool #QG1387 5.50% 4/1/2053 <sup>(d)</sup>  | 48 | 48 |
| Freddie Mac Pool #RA9338 2.50% 5/1/2053 <sup>(d)</sup>  | 19 | 16 |
| Freddie Mac Pool #SD8321 4.00% 5/1/2053 <sup>(d)</sup>  | 19801 | 18452 |
| Freddie Mac Pool #QG2977 4.00% 5/1/2053 <sup>(d)</sup>  | 589 | 549 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(d)</sup>  | 3536 | 3391 |
| Freddie Mac Pool #SD8323 5.00% 5/1/2053 <sup>(d)</sup>  | 276759 | 271978 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **20** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #SD8324 5.50% 5/1/2053 <sup>(d)</sup>  | USD158,349 | $158689 |
| Freddie Mac Pool #SD2882 5.50% 5/1/2053 <sup>(d)</sup>  | 48366 | 48482 |
| Freddie Mac Pool #SD3369 5.50% 5/1/2053 <sup>(d)</sup>  | 28084 | 28148 |
| Freddie Mac Pool #SD2861 6.00% 5/1/2053 <sup>(d)</sup>  | 23600 | 24059 |
| Freddie Mac Pool #SD8338 4.00% 6/1/2053 <sup>(d)</sup>  | 5786 | 5386 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(d)</sup>  | 89370 | 87826 |
| Freddie Mac Pool #SD8331 5.50% 6/1/2053 <sup>(d)</sup>  | 16343 | 16377 |
| Freddie Mac Pool #QG4632 5.50% 6/1/2053 <sup>(d)</sup>  | 14084 | 14128 |
| Freddie Mac Pool #QG4732 5.50% 6/1/2053 <sup>(d)</sup>  | 2288 | 2301 |
| Freddie Mac Pool #SD3177 6.00% 6/1/2053 <sup>(d)</sup>  | 37511 | 38333 |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(d)</sup>  | 13389 | 13709 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(d)</sup>  | 11563 | 11817 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(d)</sup>  | 8212 | 8407 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(d)</sup>  | 6438 | 6640 |
| Freddie Mac Pool #RA9294 6.50% 6/1/2053 <sup>(d)</sup>  | 2757 | 2868 |
| Freddie Mac Pool #RA9292 6.50% 6/1/2053 <sup>(d)</sup>  | 2389 | 2486 |
| Freddie Mac Pool #RA9288 6.50% 6/1/2053 <sup>(d)</sup>  | 2307 | 2410 |
| Freddie Mac Pool #RA9289 6.50% 6/1/2053 <sup>(d)</sup>  | 2246 | 2345 |
| Freddie Mac Pool #RA9287 6.50% 6/1/2053 <sup>(d)</sup>  | 1581 | 1654 |
| Freddie Mac Pool #RA9290 6.50% 6/1/2053 <sup>(d)</sup>  | 1210 | 1262 |
| Freddie Mac Pool #RA9291 6.50% 6/1/2053 <sup>(d)</sup>  | 762 | 790 |
| Freddie Mac Pool #RA9295 6.50% 6/1/2053 <sup>(d)</sup>  | 666 | 704 |
| Freddie Mac Pool #SD8353 4.00% 7/1/2053 <sup>(d)</sup>  | 17626 | 16413 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(d)</sup>  | 260 | 256 |
| Freddie Mac Pool #SD8342 5.50% 7/1/2053 <sup>(d)</sup>  | 44058 | 44172 |
| Freddie Mac Pool #SD3386 5.50% 7/1/2053 <sup>(d)</sup>  | 10155 | 10170 |
| Freddie Mac Pool #RA9474 6.00% 7/1/2053 <sup>(d)</sup>  | 19231 | 19667 |
| Freddie Mac Pool #SD3432 6.00% 7/1/2053 <sup>(d)</sup>  | 622 | 639 |
| Freddie Mac Pool #SD3356 6.00% 7/1/2053 <sup>(d)</sup>  | 469 | 478 |
| Freddie Mac Pool #RA9735 2.50% 8/1/2053 <sup>(d)</sup>  | 1440 | 1196 |
| Freddie Mac Pool #SD4999 5.00% 8/1/2053 <sup>(d)</sup>  | 91183 | 89834 |
| Freddie Mac Pool #QG8374 5.50% 8/1/2053 <sup>(d)</sup>  | 29265 | 29354 |
| Freddie Mac Pool #SD3559 5.50% 8/1/2053 <sup>(d)</sup>  | 21876 | 22034 |
| Freddie Mac Pool #QG9352 6.00% 8/1/2053 <sup>(d)</sup>  | 13407 | 13726 |
| Freddie Mac Pool #SD3512 6.00% 8/1/2053 <sup>(d)</sup>  | 313 | 319 |
| Freddie Mac Pool #RJ0147 2.50% 9/1/2053 <sup>(d)</sup>  | 49 | 41 |
| Freddie Mac Pool #SD4553 3.00% 9/1/2053 <sup>(d)</sup>  | 59 | 51 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(d)</sup>  | 35617 | 35675 |
| Freddie Mac Pool #RA9854 6.00% 9/1/2053 <sup>(d)</sup>  | 54519 | 55917 |
| Freddie Mac Pool #SD3916 6.00% 9/1/2053 <sup>(d)</sup>  | 13819 | 14139 |
| Freddie Mac Pool #SD8363 6.00% 9/1/2053 <sup>(d)</sup>  | 6197 | 6308 |
| Freddie Mac Pool #SD3825 6.50% 9/1/2053 <sup>(d)</sup>  | 137183 | 141786 |
| Freddie Mac Pool #SL0419 3.00% 10/1/2053 <sup>(d)</sup>  | 9029 | 7821 |
| Freddie Mac Pool #SD4122 3.00% 10/1/2053 <sup>(d)</sup>  | 412 | 357 |
| Freddie Mac Pool #SD8379 4.00% 10/1/2053 <sup>(d)</sup>  | 58 | 54 |
| Freddie Mac Pool #SD8368 6.00% 10/1/2053 <sup>(d)</sup>  | 167874 | 170892 |
| Freddie Mac Pool #SD8370 4.50% 11/1/2053 <sup>(d)</sup>  | 3748 | 3589 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(d)</sup>  | 44627 | 43856 |
| Freddie Mac Pool #SD8372 5.50% 11/1/2053 <sup>(d)</sup>  | 37169 | 37264 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(d)</sup>  | 557 | 578 |
| Freddie Mac Pool #QH6797 4.00% 12/1/2053 <sup>(d)</sup>  | 139 | 129 |
| Freddie Mac Pool #QH5936 6.00% 12/1/2053 <sup>(d)</sup>  | 8571 | 8796 |
| Freddie Mac Pool #SD6706 4.50% 1/1/2054 <sup>(d)</sup>  | 59880 | 57395 |
| Freddie Mac Pool #SD4614 6.50% 1/1/2054 <sup>(d)</sup>  | 9375 | 9757 |
| Freddie Mac Pool #SD4693 6.50% 1/1/2054 <sup>(d)</sup>  | 4027 | 4176 |
| Freddie Mac Pool #RJ0854 6.50% 1/1/2054 <sup>(d)</sup>  | 635 | 658 |
| Freddie Mac Pool #SD8413 4.00% 2/1/2054 <sup>(d)</sup>  | 164 | 153 |
| Freddie Mac Pool #SD8401 5.50% 2/1/2054 <sup>(d)</sup>  | 127 | 127 |
| Freddie Mac Pool #SD8402 6.00% 2/1/2054 <sup>(d)</sup>  | 30220 | 30755 |
| Freddie Mac Pool #SD4975 6.00% 2/1/2054 <sup>(d)</sup>  | 21196 | 21556 |
| Freddie Mac Pool #SD4894 6.00% 2/1/2054 <sup>(d)</sup>  | 11756 | 12033 |
| Freddie Mac Pool #QI0006 6.00% 2/1/2054 <sup>(d)</sup>  | 4713 | 4796 |
| Freddie Mac Pool #SD4966 6.50% 2/1/2054 <sup>(d)</sup>  | 25998 | 26997 |
| Freddie Mac Pool #SD8424 4.00% 3/1/2054 <sup>(d)</sup>  | 534 | 497 |
| Freddie Mac Pool #SD8408 5.50% 3/1/2054 <sup>(d)</sup>  | 46047 | 46081 |
| Freddie Mac Pool #RJ1076 6.00% 3/1/2054 <sup>(d)</sup>  | 25073 | 25512 |

---

---

| | |
|:---|:---|
| **21** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #RJ1015 6.50% 3/1/2054 <sup>(d)</sup>  | USD2,765 | $2862 |
| Freddie Mac Pool #RJ1263 5.50% 4/1/2054 <sup>(d)</sup>  | 25477 | 25549 |
| Freddie Mac Pool #RJ1216 5.50% 4/1/2054 <sup>(d)</sup>  | 14829 | 14936 |
| Freddie Mac Pool #RJ1215 5.50% 4/1/2054 <sup>(d)</sup>  | 10767 | 10797 |
| Freddie Mac Pool #RJ1348 6.00% 4/1/2054 <sup>(d)</sup>  | 16299 | 16664 |
| Freddie Mac Pool #SD5303 6.00% 4/1/2054 <sup>(d)</sup>  | 10561 | 10813 |
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(d)</sup>  | 6163 | 6300 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(d)</sup>  | 5032 | 5238 |
| Freddie Mac Pool #SD8430 5.00% 5/1/2054 <sup>(d)</sup>  | 8745 | 8581 |
| Freddie Mac Pool #RJ1415 5.50% 5/1/2054 <sup>(d)</sup>  | 16331 | 16470 |
| Freddie Mac Pool #QI5819 5.50% 5/1/2054 <sup>(d)</sup>  | 60 | 60 |
| Freddie Mac Pool #SD8432 6.00% 5/1/2054 <sup>(d)</sup>  | 12482 | 12702 |
| Freddie Mac Pool #RJ1431 6.00% 5/1/2054 <sup>(d)</sup>  | 11651 | 11890 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(d)</sup>  | 7739 | 7941 |
| Freddie Mac Pool #SD5404 6.50% 5/1/2054 <sup>(d)</sup>  | 8288 | 8631 |
| Freddie Mac Pool #RJ1441 6.50% 5/1/2054 <sup>(d)</sup>  | 4939 | 5143 |
| Freddie Mac Pool #RJ1857 5.50% 6/1/2054 <sup>(d)</sup>  | 29513 | 29562 |
| Freddie Mac Pool #RJ1768 5.50% 6/1/2054 <sup>(d)</sup>  | 3879 | 3901 |
| Freddie Mac Pool #RJ1859 6.00% 6/1/2054 <sup>(d)</sup>  | 12535 | 12771 |
| Freddie Mac Pool #SD8439 6.00% 6/1/2054 <sup>(d)</sup>  | 1402 | 1426 |
| Freddie Mac Pool #RJ1785 6.00% 6/1/2054 <sup>(d)</sup>  | 693 | 709 |
| Freddie Mac Pool #RJ1779 6.00% 6/1/2054 <sup>(d)</sup>  | 490 | 503 |
| Freddie Mac Pool #RJ2270 6.50% 6/1/2054 <sup>(d)</sup>  | 45977 | 47520 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(d)</sup>  | 4630 | 4821 |
| Freddie Mac Pool #RJ1726 6.50% 6/1/2054 <sup>(d)</sup>  | 3514 | 3660 |
| Freddie Mac Pool #RJ1797 6.50% 6/1/2054 <sup>(d)</sup>  | 2349 | 2431 |
| Freddie Mac Pool #RJ1725 6.50% 6/1/2054 <sup>(d)</sup>  | 1087 | 1136 |
| Freddie Mac Pool #QI8825 5.00% 7/1/2054 <sup>(d)</sup>  | 212 | 208 |
| Freddie Mac Pool #SD8446 5.50% 7/1/2054 <sup>(d)</sup>  | 17530 | 17543 |
| Freddie Mac Pool #QI8872 5.50% 7/1/2054 <sup>(d)</sup>  | 6579 | 6590 |
| Freddie Mac Pool #RJ1963 5.50% 7/1/2054 <sup>(d)</sup>  | 6043 | 6048 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(d)</sup>  | 77960 | 79429 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(d)</sup>  | 56242 | 57833 |
| Freddie Mac Pool #SD5813 6.00% 7/1/2054 <sup>(d)</sup>  | 21611 | 22153 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(d)</sup>  | 11692 | 11919 |
| Freddie Mac Pool #SD5873 6.00% 7/1/2054 <sup>(d)</sup>  | 7804 | 7948 |
| Freddie Mac Pool #SD8447 6.00% 7/1/2054 <sup>(d)</sup>  | 4783 | 4865 |
| Freddie Mac Pool #QI8874 6.00% 7/1/2054 <sup>(d)</sup>  | 3544 | 3611 |
| Freddie Mac Pool #RJ1986 6.50% 7/1/2054 <sup>(d)</sup>  | 11641 | 12051 |
| Freddie Mac Pool #SD5905 6.50% 7/1/2054 <sup>(d)</sup>  | 4515 | 4701 |
| Freddie Mac Pool #RJ2193 5.00% 8/1/2054 <sup>(d)</sup>  | 10876 | 10702 |
| Freddie Mac Pool #RJ2194 5.00% 8/1/2054 <sup>(d)</sup>  | 7998 | 7903 |
| Freddie Mac Pool #RJ2195 5.00% 8/1/2054 <sup>(d)</sup>  | 6959 | 6835 |
| Freddie Mac Pool #RJ2241 5.00% 8/1/2054 <sup>(d)</sup>  | 5691 | 5589 |
| Freddie Mac Pool #RJ2200 5.50% 8/1/2054 <sup>(d)</sup>  | 38754 | 38878 |
| Freddie Mac Pool #RJ2206 5.50% 8/1/2054 <sup>(d)</sup>  | 24825 | 24913 |
| Freddie Mac Pool #RJ2243 5.50% 8/1/2054 <sup>(d)</sup>  | 22246 | 22290 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(d)</sup>  | 12865 | 12958 |
| Freddie Mac Pool #RJ2203 5.50% 8/1/2054 <sup>(d)</sup>  | 4073 | 4099 |
| Freddie Mac Pool #SD8454 6.00% 8/1/2054 <sup>(d)</sup>  | 183315 | 186433 |
| Freddie Mac Pool #RJ2212 6.00% 8/1/2054 <sup>(d)</sup>  | 124181 | 127443 |
| Freddie Mac Pool #RJ2210 6.00% 8/1/2054 <sup>(d)</sup>  | 100004 | 101923 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(d)</sup>  | 57867 | 58958 |
| Freddie Mac Pool #SD6029 6.00% 8/1/2054 <sup>(d)</sup>  | 12713 | 13007 |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(d)</sup>  | 19293 | 20093 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(d)</sup>  | 10465 | 10899 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(d)</sup>  | 7555 | 7864 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(d)</sup>  | 4497 | 4659 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(d)</sup>  | 3803 | 3962 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(d)</sup>  | 2601 | 2709 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(d)</sup>  | 8987 | 8994 |
| Freddie Mac Pool #RJ2422 5.50% 9/1/2054 <sup>(d)</sup>  | 7412 | 7435 |
| Freddie Mac Pool #SD6328 5.50% 9/1/2054 <sup>(d)</sup>  | 4722 | 4764 |
| Freddie Mac Pool #RJ2415 5.50% 9/1/2054 <sup>(d)</sup>  | 3133 | 3155 |
| Freddie Mac Pool #RJ2408 5.50% 9/1/2054 <sup>(d)</sup>  | 2821 | 2827 |
| Freddie Mac Pool #RJ2298 5.50% 9/1/2054 <sup>(d)</sup>  | 2492 | 2500 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **22** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #QJ3044 5.50% 9/1/2054 <sup>(d)</sup>  | USD2,004 | $2006 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(d)</sup>  | 49712 | 50649 |
| Freddie Mac Pool #SD6578 6.00% 9/1/2054 <sup>(d)</sup>  | 34609 | 35391 |
| Freddie Mac Pool #RJ2312 6.00% 9/1/2054 <sup>(d)</sup>  | 23857 | 24409 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(d)</sup>  | 22515 | 23107 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(d)</sup>  | 20940 | 21487 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(d)</sup>  | 13431 | 13684 |
| Freddie Mac Pool #SD8463 6.00% 9/1/2054 <sup>(d)</sup>  | 829 | 843 |
| Freddie Mac Pool #SD8464 6.50% 9/1/2054 <sup>(d)</sup>  | 307488 | 317805 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(d)</sup>  | 3320 | 3457 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(d)</sup>  | 2038 | 2114 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(d)</sup>  | 1790 | 1860 |
| Freddie Mac Pool #RJ2474 6.50% 9/1/2054 <sup>(d)</sup>  | 1489 | 1542 |
| Freddie Mac Pool #RJ2411 6.50% 9/1/2054 <sup>(d)</sup>  | 1029 | 1070 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(d)</sup>  | 1007 | 1048 |
| Freddie Mac Pool #RJ2470 6.50% 9/1/2054 <sup>(d)</sup>  | 546 | 565 |
| Freddie Mac Pool #QJ5728 4.00% 10/1/2054 <sup>(d)</sup>  | 3056 | 2845 |
| Freddie Mac Pool #RJ2664 5.00% 10/1/2054 <sup>(d)</sup>  | 5700 | 5597 |
| Freddie Mac Pool #RJ2622 5.50% 10/1/2054 <sup>(d)</sup>  | 142619 | 143616 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(d)</sup>  | 8785 | 8791 |
| Freddie Mac Pool #QJ5370 6.00% 10/1/2054 <sup>(d)</sup>  | 7103 | 7250 |
| Freddie Mac Pool #QJ5733 6.00% 10/1/2054 <sup>(d)</sup>  | 275 | 280 |
| Freddie Mac Pool #SD6733 6.50% 10/1/2054 <sup>(d)</sup>  | 274 | 284 |
| Freddie Mac Pool #SD8484 4.00% 11/1/2054 <sup>(d)</sup>  | 2395 | 2229 |
| Freddie Mac Pool #RJ2850 4.50% 11/1/2054 <sup>(d)</sup>  | 22195 | 21263 |
| Freddie Mac Pool #RJ2851 4.50% 11/1/2054 <sup>(d)</sup>  | 6648 | 6366 |
| Freddie Mac Pool #RJ2860 5.00% 11/1/2054 <sup>(d)</sup>  | 75591 | 74145 |
| Freddie Mac Pool #RJ2836 5.00% 11/1/2054 <sup>(d)</sup>  | 8340 | 8181 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(d)</sup>  | 319535 | 319770 |
| Freddie Mac Pool #RJ2917 5.50% 11/1/2054 <sup>(d)</sup>  | 59976 | 60115 |
| Freddie Mac Pool #RJ2913 5.50% 11/1/2054 <sup>(d)</sup>  | 48003 | 48123 |
| Freddie Mac Pool #RJ2845 6.00% 11/1/2054 <sup>(d)</sup>  | 44414 | 45238 |
| Freddie Mac Pool #RJ2922 6.00% 11/1/2054 <sup>(d)</sup>  | 11484 | 11679 |
| Freddie Mac Pool #SD8489 4.50% 12/1/2054 <sup>(d)</sup>  | 127515 | 122052 |
| Freddie Mac Pool #RJ3017 5.00% 12/1/2054 <sup>(d)</sup>  | 103859 | 101969 |
| Freddie Mac Pool #RJ3163 5.00% 12/1/2054 <sup>(d)</sup>  | 44410 | 43585 |
| Freddie Mac Pool #QX1743 5.00% 12/1/2054 <sup>(d)</sup>  | 10866 | 10675 |
| Freddie Mac Pool #QX2834 5.00% 12/1/2054 <sup>(d)</sup>  | 3588 | 3523 |
| Freddie Mac Pool #RJ3078 5.50% 12/1/2054 <sup>(d)</sup>  | 14445 | 14518 |
| Freddie Mac Pool #QX1754 5.50% 12/1/2054 <sup>(d)</sup>  | 9925 | 9942 |
| Freddie Mac Pool #QX0376 5.50% 12/1/2054 <sup>(d)</sup>  | 6537 | 6548 |
| Freddie Mac Pool #SD8493 5.50% 12/1/2054 <sup>(d)</sup>  | 2581 | 2583 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(d)</sup>  | 197 | 197 |
| Freddie Mac Pool #QX1881 6.00% 12/1/2054 <sup>(d)</sup>  | 8289 | 8443 |
| Freddie Mac Pool #RJ3291 5.50% 1/1/2055 <sup>(d)</sup>  | 48724 | 48980 |
| Freddie Mac Pool #SD8494 5.50% 1/1/2055 <sup>(d)</sup>  | 16240 | 16249 |
| Freddie Mac Pool #QX2812 5.50% 1/1/2055 <sup>(d)</sup>  | 4148 | 4155 |
| Freddie Mac Pool #RJ3240 6.00% 1/1/2055 <sup>(d)</sup>  | 160622 | 163601 |
| Freddie Mac Pool #RJ3305 6.00% 1/1/2055 <sup>(d)</sup>  | 45838 | 46937 |
| Freddie Mac Pool #QX4065 6.00% 1/1/2055 <sup>(d)</sup>  | 8940 | 9090 |
| Freddie Mac Pool #RJ3301 6.00% 1/1/2055 <sup>(d)</sup>  | 1815 | 1863 |
| Freddie Mac Pool #SD8486 6.50% 1/1/2055 <sup>(d)</sup>  | 151356 | 156411 |
| Freddie Mac Pool #RJ3241 6.50% 1/1/2055 <sup>(d)</sup>  | 43156 | 45001 |
| Freddie Mac Pool #RJ3264 4.50% 2/1/2055 <sup>(d)</sup>  | 13197 | 12637 |
| Freddie Mac Pool #SD8505 5.00% 2/1/2055 <sup>(d)</sup>  | 21907 | 21482 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(d)</sup>  | 72880 | 72917 |
| Freddie Mac Pool #SD8507 6.00% 2/1/2055 <sup>(d)</sup>  | 20362 | 20705 |
| Freddie Mac Pool #SL0797 6.00% 2/1/2055 <sup>(d)</sup>  | 11785 | 12054 |
| Freddie Mac Pool #SD8508 6.50% 2/1/2055 <sup>(d)</sup>  | 1003 | 1037 |
| Freddie Mac Pool #SD8515 5.50% 3/1/2055 <sup>(d)</sup>  | 752 | 753 |
| Freddie Mac Pool #SL0585 5.50% 3/1/2055 <sup>(d)</sup>  | 306 | 306 |
| Freddie Mac Pool #QX8321 5.50% 3/1/2055 <sup>(d)</sup>  | 247 | 247 |
| Freddie Mac Pool #SD8516 6.00% 3/1/2055 <sup>(d)</sup>  | 14056 | 14293 |
| Freddie Mac Pool #SD8517 6.50% 3/1/2055 <sup>(d)</sup>  | 90868 | 93902 |
| Freddie Mac Pool #SD8521 4.00% 4/1/2055 <sup>(d)</sup>  | 4252 | 3957 |
| Freddie Mac Pool #SL1094 5.00% 4/1/2055 <sup>(d)</sup>  | 9490 | 9306 |

---

---

| | |
|:---|:---|
| **23** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #SD8524 5.50% 4/1/2055 <sup>(d)</sup>  | USD436 | $436 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(d)</sup>  | 46296 | 47074 |
| Freddie Mac Pool #SL0796 6.00% 4/1/2055 <sup>(d)</sup>  | 25742 | 26176 |
| Freddie Mac Pool #SD8526 6.50% 4/1/2055 <sup>(d)</sup>  | 462 | 478 |
| Freddie Mac Pool #QY4944 6.50% 4/1/2055 <sup>(d)</sup>  | 39 | 40 |
| Freddie Mac Pool #SD8532 5.00% 5/1/2055 <sup>(d)</sup>  | 22694 | 22258 |
| Freddie Mac Pool #QY3302 5.00% 5/1/2055 <sup>(d)</sup>  | 120 | 118 |
| Freddie Mac Pool #SD8533 5.50% 5/1/2055 <sup>(d)</sup>  | 3588 | 3589 |
| Freddie Mac Pool #RQ0022 5.50% 5/1/2055 <sup>(d)</sup>  | 1737 | 1738 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(d)</sup>  | 5348 | 5438 |
| Freddie Mac Pool #SL1138 6.00% 5/1/2055 <sup>(d)</sup>  | 765 | 778 |
| Freddie Mac Pool #SL1137 6.00% 5/1/2055 <sup>(d)</sup>  | 704 | 716 |
| Freddie Mac Pool #RQ0010 4.00% 6/1/2055 <sup>(d)</sup>  | 372 | 346 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(d)</sup>  | 13372 | 13113 |
| Freddie Mac Pool #RQ0013 5.50% 6/1/2055 <sup>(d)</sup>  | 93305 | 93352 |
| Freddie Mac Pool #RQ0028 6.00% 7/1/2055 <sup>(d)</sup>  | 32161 | 32700 |
| Freddie Mac, Series K142, Class A2, 2.40% 3/25/2032 <sup>(d)</sup>  | 49523 | 44034 |
| Freddie Mac, Series T041, Class 3A, 4.45% 7/25/2032 <sup>(d)(e)</sup>  | 636 | 585 |
| Freddie Mac, Series 3318, Class JT, 5.50% 5/15/2037 <sup>(d)</sup>  | 30 | 31 |
| Freddie Mac, Series K049, Class A2, Multi Family, 3.01% 7/25/2025 <sup>(d)</sup>  | 141 | 140 |
| Freddie Mac, Series K733, Class A2, Multi Family, 3.75% 8/25/2025 <sup>(d)</sup>  | 11467 | 11430 |
| Freddie Mac, Series K734, Class A2, Multi Family, 3.208% 2/25/2026 <sup>(d)</sup>  | 23662 | 23494 |
| Freddie Mac, Series K755, Class A2, Multi Family, 5.203% 2/25/2031 <sup>(d)</sup>  | 45775 | 47855 |
| Freddie Mac, Series K144, Class A2, Multi Family, 2.45% 4/25/2032 <sup>(d)</sup>  | 26791 | 23840 |
| Freddie Mac, Series K143, Class A2, Multi Family, 2.35% 6/25/2032 <sup>(d)</sup>  | 11551 | 10231 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 1/25/2056 <sup>(d)(e)</sup>  | 12055 | 11327 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class MA, 3.00% 1/25/2056 <sup>(d)</sup>  | 4298 | 4002 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 7/25/2056 <sup>(d)(e)</sup>  | 7372 | 7000 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 8/25/2056 <sup>(d)</sup>  | 27970 | 26131 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 8/25/2056 <sup>(d)(e)</sup>  | 27098 | 25415 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 6/25/2057 <sup>(d)(e)</sup>  | 6173 | 5570 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 6/25/2057 <sup>(d)</sup>  | 5158 | 4631 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 8/25/2057 <sup>(d)</sup>  | 16147 | 15573 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 11/25/2057 <sup>(d)</sup>  | 12588 | 11291 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 8/25/2058 <sup>(d)</sup>  | 44211 | 42275 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 2/25/2059 <sup>(d)</sup>  | 28220 | 26171 |
| Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2024-2, Class MT, 3.50% 5/25/2064 <sup>(d)</sup>  | 13798 | 11957 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 11/25/2028 <sup>(d)</sup>  | 5688 | 5531 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A2, 3.50% 5/25/2029 <sup>(d)</sup>  | 24325 | 23523 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 5/25/2029 <sup>(d)</sup>  | 21077 | 20434 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 11/25/2029 <sup>(d)</sup>  | 7749 | 7360 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A1D, 2.00% 7/25/2030 <sup>(d)</sup>  | 3825 | 3521 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2020-1, Class A2D, 2.00% 7/25/2030 <sup>(d)</sup>  | 1427 | 1255 |
| Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2022-1, Class A1, 3.50% 5/25/2032 <sup>(d)</sup>  | 10181 | 9793 |
| Government National Mortgage Assn. 3.50% 7/1/2055 <sup>(d)(g)</sup>  | 22703 | 20643 |
| Government National Mortgage Assn. 5.00% 7/1/2055 <sup>(d)(g)</sup>  | 39474 | 38782 |
| Government National Mortgage Assn. 5.50% 7/1/2055 <sup>(d)(g)</sup>  | 172916 | 173197 |
| Government National Mortgage Assn. 3.50% 8/1/2055 <sup>(d)(g)</sup>  | 37304 | 33841 |
| Government National Mortgage Assn. 4.00% 8/1/2055 <sup>(d)(g)</sup>  | 101498 | 94367 |
| Government National Mortgage Assn. Pool #004291 6.00% 11/20/2038 <sup>(d)</sup>  | 621 | 650 |
| Government National Mortgage Assn. Pool #783219 4.00% 1/15/2041 <sup>(d)</sup>  | 2621 | 2502 |
| Government National Mortgage Assn. Pool #MA1601 4.00% 1/20/2044 <sup>(d)</sup>  | 30 | 29 |
| Government National Mortgage Assn. Pool #MA3107 4.50% 9/20/2045 <sup>(d)</sup>  | 54 | 52 |
| Government National Mortgage Assn. Pool #MA3175 4.50% 10/20/2045 <sup>(d)</sup>  | 2288 | 2238 |
| Government National Mortgage Assn. Pool #MA3873 3.00% 8/20/2046 <sup>(d)</sup>  | 17692 | 15894 |
| Government National Mortgage Assn. Pool #MA4587 4.00% 7/20/2047 <sup>(d)</sup>  | 8352 | 7879 |
| Government National Mortgage Assn. Pool #MA4653 4.00% 8/20/2047 <sup>(d)</sup>  | 1489 | 1399 |
| Government National Mortgage Assn. Pool #MA4779 4.00% 10/20/2047 <sup>(d)</sup>  | 1755 | 1651 |
| Government National Mortgage Assn. Pool #MA4901 4.00% 12/20/2047 <sup>(d)</sup>  | 14141 | 13323 |
| Government National Mortgage Assn. Pool #MA5078 4.00% 3/20/2048 <sup>(d)</sup>  | 15503 | 14622 |
| Government National Mortgage Assn. Pool #MA5191 3.50% 5/20/2048 <sup>(d)</sup>  | 17091 | 15794 |
| Government National Mortgage Assn. Pool #MA5193 4.50% 5/20/2048 <sup>(d)</sup>  | 2815 | 2749 |
| Government National Mortgage Assn. Pool #MA5528 4.00% 10/20/2048 <sup>(d)</sup>  | 361 | 341 |
| Government National Mortgage Assn. Pool #MA5652 4.50% 12/20/2048 <sup>(d)</sup>  | 1000 | 978 |
| Government National Mortgage Assn. Pool #MA5816 3.50% 3/20/2049 <sup>(d)</sup>  | 17341 | 15901 |
| Government National Mortgage Assn. Pool #MA5818 4.50% 3/20/2049 <sup>(d)</sup>  | 738 | 721 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **24** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Government National Mortgage Assn. Pool #MA5987 4.50% 6/20/2049 <sup>(d)</sup>  | USD294 | $288 |
| Government National Mortgage Assn. Pool #MA6041 4.50% 7/20/2049 <sup>(d)</sup>  | 408 | 396 |
| Government National Mortgage Assn. Pool #MA6156 4.50% 9/20/2049 <sup>(d)</sup>  | 3401 | 3297 |
| Government National Mortgage Assn. Pool #MA6341 4.50% 12/20/2049 <sup>(d)</sup>  | 290 | 282 |
| Government National Mortgage Assn. Pool #MA6994 2.00% 11/20/2050 <sup>(d)</sup>  | 106045 | 86478 |
| Government National Mortgage Assn. Pool #BZ3978 2.50% 11/20/2050 <sup>(d)</sup>  | 194 | 164 |
| Government National Mortgage Assn. Pool #MA7051 2.00% 12/20/2050 <sup>(d)</sup>  | 92669 | 75549 |
| Government National Mortgage Assn. Pool #MA7140 4.50% 1/20/2051 <sup>(d)</sup>  | 288 | 281 |
| Government National Mortgage Assn. Pool #MA7259 4.50% 3/20/2051 <sup>(d)</sup>  | 6555 | 6389 |
| Government National Mortgage Assn. Pool #MA7534 2.50% 8/20/2051 <sup>(d)</sup>  | 74953 | 63759 |
| Government National Mortgage Assn. Pool #785607 2.50% 8/20/2051 <sup>(d)</sup>  | 17926 | 14983 |
| Government National Mortgage Assn. Pool #785659 2.50% 10/20/2051 <sup>(d)</sup>  | 6370 | 5324 |
| Government National Mortgage Assn. Pool #786706 2.50% 12/20/2051 <sup>(d)</sup>  | 2071 | 1742 |
| Government National Mortgage Assn. Pool #MA7827 2.50% 1/20/2052 <sup>(d)</sup>  | 12266 | 10434 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(d)</sup>  | 59009 | 50195 |
| Government National Mortgage Assn. Pool #786502 2.50% 2/20/2052 <sup>(d)</sup>  | 1775 | 1501 |
| Government National Mortgage Assn. Pool #MA7936 2.50% 3/20/2052 <sup>(d)</sup>  | 37755 | 32116 |
| Government National Mortgage Assn. Pool #786701 2.50% 3/20/2052 <sup>(d)</sup>  | 555 | 469 |
| Government National Mortgage Assn. Pool #785998 2.50% 3/20/2052 <sup>(d)</sup>  | 421 | 353 |
| Government National Mortgage Assn. Pool #MA7937 3.00% 3/20/2052 <sup>(d)</sup>  | 36473 | 32304 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(d)</sup>  | 6094 | 5184 |
| Government National Mortgage Assn. Pool #MA7988 3.00% 4/20/2052 <sup>(d)</sup>  | 27665 | 24496 |
| Government National Mortgage Assn. Pool #MA8044 3.50% 5/20/2052 <sup>(d)</sup>  | 116010 | 105886 |
| Government National Mortgage Assn. Pool #MA8147 2.50% 7/20/2052 <sup>(d)</sup>  | 333 | 284 |
| Government National Mortgage Assn. Pool #MA8148 3.00% 7/20/2052 <sup>(d)</sup>  | 35504 | 31444 |
| Government National Mortgage Assn. Pool #MA8199 3.50% 8/20/2052 <sup>(d)</sup>  | 20676 | 18894 |
| Government National Mortgage Assn. Pool #MA8266 3.50% 9/20/2052 <sup>(d)</sup>  | 36148 | 32982 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(d)</sup>  | 199809 | 187208 |
| Government National Mortgage Assn. Pool #MA8425 3.50% 11/20/2052 <sup>(d)</sup>  | 16833 | 15382 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052 <sup>(d)</sup>  | 1861 | 1738 |
| Government National Mortgage Assn. Pool #MA8488 4.00% 12/20/2052 <sup>(d)</sup>  | 19669 | 18471 |
| Government National Mortgage Assn. Pool #MA8567 4.00% 1/20/2053 <sup>(d)</sup>  | 17586 | 16451 |
| Government National Mortgage Assn. Pool #MA8723 4.00% 3/20/2053 <sup>(d)</sup>  | 11304 | 10563 |
| Government National Mortgage Assn. Pool #MA8800 5.00% 4/20/2053 <sup>(d)</sup>  | 709 | 700 |
| Government National Mortgage Assn. Pool #MA8943 3.00% 6/20/2053 <sup>(d)</sup>  | 627 | 555 |
| Government National Mortgage Assn. Pool #MA9015 4.50% 7/20/2053 <sup>(d)</sup>  | 17681 | 17007 |
| Government National Mortgage Assn. Pool #MA9016 5.00% 7/20/2053 <sup>(d)</sup>  | 38288 | 37727 |
| Government National Mortgage Assn. Pool #MA9105 5.00% 8/20/2053 <sup>(d)</sup>  | 27646 | 27231 |
| Government National Mortgage Assn. Pool #MA9169 4.50% 9/20/2053 <sup>(d)</sup>  | 45667 | 43860 |
| Government National Mortgage Assn. Pool #MA9170 5.00% 9/20/2053 <sup>(d)</sup>  | 133943 | 131837 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(d)</sup>  | 55455 | 51647 |
| Government National Mortgage Assn. Pool #MA9961 3.50% 10/20/2054 <sup>(d)</sup>  | 105 | 96 |
| Government National Mortgage Assn. Pool #MB0023 4.00% 11/20/2054 <sup>(d)</sup>  | 147741 | 137472 |
| Government National Mortgage Assn. Pool #MB0144 4.00% 1/20/2055 <sup>(d)</sup>  | 1153 | 1073 |
| Government National Mortgage Assn. Pool #MB0202 4.00% 2/20/2055 <sup>(d)</sup>  | 191911 | 178571 |
| Government National Mortgage Assn. Pool #MB0256 4.00% 3/20/2055 <sup>(d)</sup>  | 188181 | 175101 |
| Government National Mortgage Assn. Pool #MB0421 4.00% 6/20/2055 <sup>(d)</sup>  | 41854 | 38945 |
| Government National Mortgage Assn. Pool #710085 4.94% 9/20/2061 <sup>(d)</sup>  | 2 | 2 |
| Government National Mortgage Assn., Series 2021-2, Class AH, 1.50% 6/16/2063 <sup>(d)</sup>  | 30897 | 22587 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2040 <sup>(d)(g)</sup>  | 89826 | 82103 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2040 <sup>(d)(g)</sup>  | 23510 | 21957 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2040 <sup>(d)(g)</sup>  | 40000 | 38605 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2040 <sup>(d)(g)</sup>  | 41500 | 40598 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2040 <sup>(d)(g)</sup>  | 39174 | 35714 |
| Uniform Mortgage-Backed Security 2.50% 8/1/2040 <sup>(d)(g)</sup>  | 24490 | 22834 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2055 <sup>(d)(g)</sup>  | 204579 | 161997 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(d)(g)</sup>  | 500038 | 414673 |
| Uniform Mortgage-Backed Security 3.00% 7/1/2055 <sup>(d)(g)</sup>  | 4749 | 4110 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(d)(g)</sup>  | 102806 | 92571 |
| Uniform Mortgage-Backed Security 4.00% 7/1/2055 <sup>(d)(g)</sup>  | 5791 | 5385 |
| Uniform Mortgage-Backed Security 4.50% 7/1/2055 <sup>(d)(g)</sup>  | 107 | 102 |
| Uniform Mortgage-Backed Security 5.50% 7/1/2055 <sup>(d)(g)</sup>  | 69879 | 69874 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(d)(g)</sup>  | 453598 | 460999 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(d)(g)</sup>  | 36822 | 38772 |
| Uniform Mortgage-Backed Security 2.00% 8/1/2055 <sup>(d)(g)</sup>  | 112777 | 89338 |
| Uniform Mortgage-Backed Security 2.50% 8/1/2055 <sup>(d)(g)</sup>  | 467475 | 387742 |

---

---

| | |
|:---|:---|
| **25** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(d)(g)</sup>  | USD114,214 | $98820 |
| Uniform Mortgage-Backed Security 3.50% 8/1/2055 <sup>(d)(g)</sup>  | 365765 | 329249 |
| Uniform Mortgage-Backed Security 4.00% 8/1/2055 <sup>(d)(g)</sup>  | 12252 | 11392 |
| Uniform Mortgage-Backed Security 6.50% 8/1/2055 <sup>(d)(g)</sup>  | 972080 | 1002321 |
| Uniform Mortgage-Backed Security 7.00% 8/1/2055 <sup>(d)(g)</sup>  | 249200 | 261418 |
|  |  | 23757552 |
| **Commercial mortgage-backed securities 1.23%** | **Commercial mortgage-backed securities 1.23%** | **Commercial mortgage-backed securities 1.23%** |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.7426%) 6.043% 6/15/2040 <sup>(d)(e)(h)</sup>  | 83778 | 84368 |
| AMSR Trust, Series 2021-SFR3, Class A, 1.476% 10/17/2038 <sup>(d)(h)</sup>  | 4557 | 4379 |
| AMSR Trust, Series 2023-SFR2, Class A, 3.95% 6/17/2040 <sup>(d)(h)</sup>  | 21941 | 21423 |
| AMSR Trust, Series 2025-SFR1, Class A, 3.655% 6/17/2042 <sup>(d)(h)</sup>  | 14005 | 13403 |
| AMSR Trust, Series 2025-SFR1, Class C, 3.655% 6/17/2042 <sup>(d)(h)</sup>  | 3802 | 3520 |
| AMSR Trust, Series 2025-SFR1, Class D, 3.655% 6/17/2042 <sup>(d)(h)</sup>  | 3834 | 3509 |
| AMSR Trust, Series 2025-SFR1, Class B, 3.655% 6/17/2042 <sup>(d)(h)</sup>  | 3167 | 2975 |
| ARES Commercial Mortgage Trust, Series 24-IND, Class A, (1-month USD CME Term SOFR + 1.69%) 6.003% <br> 7/15/2041 <sup>(d)(e)(h)</sup>  | 3356 | 3366 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class D, 7.679% 11/10/2029 <sup>(d)(e)(h)</sup>  | 8855 | 9001 |
| Bank Commercial Mortgage Trust, Series 2022-BNK44, Class ASB, 5.746% 3/15/2032 <sup>(d)(e)</sup>  | 5000 | 5261 |
| Bank Commercial Mortgage Trust, Series 2024-BNK48, Class AS, 5.355% 10/15/2034 <sup>(d)(e)</sup>  | 6319 | 6350 |
| Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 2/15/2052 <sup>(d)</sup>  | 3422 | 3351 |
| Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 4/15/2052 <sup>(d)</sup>  | 405 | 394 |
| Bank Commercial Mortgage Trust, Series 2022-BNK43, Class A5, 4.399% 8/15/2055 <sup>(d)</sup>  | 5575 | 5399 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class A5, 5.203% 2/15/2056 <sup>(d)</sup>  | 2860 | 2906 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class A3, 6.26% 4/15/2056 <sup>(d)(e)</sup>  | 4739 | 4929 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class A3, 6.50% 12/15/2056 <sup>(d)</sup>  | 21470 | 22648 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class AS, 7.274% 12/15/2056 <sup>(d)(e)</sup>  | 6605 | 7075 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class A3, 5.614% 8/15/2057 <sup>(d)</sup>  | 27528 | 28525 |
| Bank Commercial Mortgage Trust, Series 2024-5YR8, Class A3, 5.884% 8/15/2057 <sup>(d)</sup>  | 9565 | 9988 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class A3, 5.893% 11/15/2057 <sup>(d)</sup>  | 53342 | 55930 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class A3, 5.902% 12/15/2057 <sup>(d)(e)</sup>  | 36065 | 37867 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class AS, 6.122% 12/15/2057 <sup>(d)(e)</sup>  | 13271 | 13872 |
| Bank Commercial Mortgage Trust, Series 2025-BNK49, Class A5, 5.623% 3/15/2058 <sup>(d)(e)</sup>  | 41165 | 43087 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A5, 3.688% 2/15/2061 <sup>(d)</sup>  | 795 | 781 |
| Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 2/17/2061 <sup>(d)</sup>  | 489 | 477 |
| Bank Commercial Mortgage Trust, Series 2018-BN12, Class A4, 4.255% 5/15/2061 <sup>(d)(e)</sup>  | 9618 | 9583 |
| Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 8/15/2061 <sup>(d)</sup>  | 5772 | 5405 |
| Bank Commercial Mortgage Trust, Series 2019-BN18, Class A4, 3.584% 5/15/2062 <sup>(d)</sup>  | 8720 | 8281 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 3/15/2063 <sup>(d)</sup>  | 17962 | 16186 |
| Bank5, Series 2025-5YR14, Class AS, 6.072% 4/15/2058 <sup>(d)</sup>  | 29769 | 31125 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C16, Class A5, 4.60% 6/15/2055 <sup>(d)(e)</sup>  | 1960 | 1934 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class A5, 5.451% 4/15/2056 <sup>(d)</sup>  | 13312 | 13765 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C21, Class A5, 6.00% 9/15/2056 <sup>(d)(e)</sup>  | 7890 | 8416 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class AS, 5.852% 12/15/2057 <sup>(d)</sup>  | 12680 | 13124 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C33, Class A4, 5.839% 3/15/2058 <sup>(d)</sup>  | 28245 | 29593 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/2051 <sup>(d)</sup>  | 11250 | 11035 |
| Benchmark Mortgage Trust, Series 2018-B2, Class A5, 3.882% 2/15/2051 <sup>(d)(e)</sup>  | 3812 | 3740 |
| Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 1/15/2052 <sup>(d)</sup>  | 9988 | 9789 |
| Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 3/15/2053 <sup>(d)</sup>  | 17048 | 15112 |
| Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 5/15/2053 <sup>(d)(e)</sup>  | 11156 | 11086 |
| Benchmark Mortgage Trust, Series 2020-B19, Class A5, 1.85% 9/15/2053 <sup>(d)</sup>  | 21652 | 18765 |
| Benchmark Mortgage Trust, Series 2020-B20, Class A5, 2.034% 10/15/2053 <sup>(d)</sup>  | 3950 | 3416 |
| Benchmark Mortgage Trust, Series 2020-B22, Class AM, 2.163% 1/15/2054 <sup>(d)</sup>  | 6710 | 5660 |
| Benchmark Mortgage Trust, Series 2021-B25, Class A5, 2.577% 4/15/2054 <sup>(d)</sup>  | 2138 | 1884 |
| Benchmark Mortgage Trust, Series 2021-B28, Class A5, 2.224% 8/15/2054 <sup>(d)</sup>  | 4870 | 4224 |
| Benchmark Mortgage Trust, Series 2022-B32, Class A5, 3.002% 1/15/2055 <sup>(d)</sup>  | 8840 | 7786 |
| Benchmark Mortgage Trust, Series 2024-V7, Class A3, 6.228% 5/15/2056 <sup>(d)(e)</sup>  | 8696 | 9166 |
| Benchmark Mortgage Trust, Series 2024-V8, Class A3, 6.189% 7/15/2057 <sup>(d)</sup>  | 13310 | 14050 |
| Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 8/15/2057 <sup>(d)</sup>  | 8000 | 7500 |
| Benchmark Mortgage Trust, Series 2024-V9, Class A3, 5.602% 8/15/2057 <sup>(d)</sup>  | 22993 | 23794 |
| Benchmark Mortgage Trust, Series 2024-V9, Class AS, 6.064% 8/15/2057 <sup>(d)(e)</sup>  | 4080 | 4247 |
| Benchmark Mortgage Trust, Series 2024-V10, Class A3, 5.277% 9/15/2057 <sup>(d)</sup>  | 4287 | 4390 |
| Benchmark Mortgage Trust, Series 2024-V11, Class A3, 5.909% 11/15/2057 <sup>(d)</sup>  | 23565 | 24724 |
| Benchmark Mortgage Trust, Series 2024-V11, Class AM, 6.201% 11/15/2057 <sup>(d)</sup>  | 6948 | 7274 |
| Benchmark Mortgage Trust, Series 2024-V12, Class A3, 5.738% 12/15/2057 <sup>(d)</sup>  | 5540 | 5775 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **26** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Benchmark Mortgage Trust, Series 2025-V14, Class A4, 5.66% 4/15/2058 <sup>(d)</sup>  | USD20,440 | $21318 |
| Benchmark Mortgage Trust, Series 2025-V14, Class AM, 6.09% 4/15/2058 <sup>(d)</sup>  | 8011 | 8391 |
| Benchmark Mortgage Trust, Series 2025-V15, Class A3, 5.805% 6/15/2058 <sup>(d)</sup>  | 48077 | 50471 |
| Benchmark Mortgage Trust, Series 2025-V15, Class AS, 6.175% 6/15/2058 <sup>(d)</sup>  | 9775 | 10281 |
| BFLD Trust, Series 2024-WRHS, Class A, (1-month USD CME Term SOFR + 1.492%) 5.804% 8/15/2026 <sup>(d)(e)(h)</sup>  | 15759 | 15781 |
| BMO Mortgage Trust, Series 2022-C2, Class A5, 4.974% 7/15/2054 <sup>(d)(e)</sup>  | 7920 | 7966 |
| BMO Mortgage Trust, Series 2023-C5, Class A5, 5.765% 6/15/2056 <sup>(d)</sup>  | 4929 | 5150 |
| BMO Mortgage Trust, Series 2023-5C1, Class A3, 6.534% 8/15/2056 <sup>(d)(e)</sup>  | 44520 | 46805 |
| BMO Mortgage Trust, Series 2023-5C1, Class AS, 7.117% 8/15/2056 <sup>(d)(e)</sup>  | 25283 | 26842 |
| BMO Mortgage Trust, Series 2023-C6, Class A5, 5.956% 9/15/2056 <sup>(d)(e)</sup>  | 2210 | 2336 |
| BMO Mortgage Trust, Series 2023-C6, Class AS, 6.55% 9/15/2056 <sup>(d)(e)</sup>  | 26680 | 28782 |
| BMO Mortgage Trust, Series 2024-5C6, Class A3, 5.316% 9/15/2057 <sup>(d)</sup>  | 2293 | 2349 |
| BMO Mortgage Trust, Series 2024-5C8, Class A3, 5.625% 12/15/2057 <sup>(d)(e)</sup>  | 48510 | 50384 |
| BMO Mortgage Trust, Series 2024-5C8, Class AS, 5.94% 12/15/2057 <sup>(d)(e)</sup>  | 10030 | 10420 |
| BMO Mortgage Trust, Series 2025-5C9, Class A3, 5.779% 4/15/2058 <sup>(d)</sup>  | 52385 | 54737 |
| BMO Mortgage Trust, Series 2025-5C9, Class AS, 6.165% 4/15/2058 <sup>(d)(e)</sup>  | 3714 | 3888 |
| BMP Trust, Series 2024-MF23, Class A, (1-month USD CME Term SOFR + 1.372%) 5.684% 6/15/2041 <sup>(d)(e)(h)</sup>  | 14969 | 15006 |
| BOCA Commercial Mortgage Trust, Series 2024-BOCA, Class A, (1-month USD CME Term SOFR + 1.921%) <br> 6.232% 8/15/2041 <sup>(d)(e)(h)</sup>  | 18000 | 18076 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class A, (1-month USD CME Term SOFR + 1.293%) 5.605% <br> 12/15/2039 <sup>(d)(e)(h)</sup>  | 28150 | 28212 |
| BX Commercial Mortgage Trust, Series 2024-GPA3, Class B, (1-month USD CME Term SOFR + 1.642%) 5.954% <br> 12/15/2039 <sup>(d)(e)(h)</sup>  | 4162 | 4172 |
| BX Trust, Series 2024-FNX, Class A, (1-month USD CME Term SOFR + 1.442%) 5.754% 11/15/2026 <sup>(d)(e)(h)</sup>  | 46193 | 46300 |
| BX Trust, Series 2024-FNX, Class B, (1-month USD CME Term SOFR + 1.742%) 6.054% 11/15/2026 <sup>(d)(e)(h)</sup>  | 8648 | 8670 |
| BX Trust, Series 2024-CNYN, Class A, (1-month USD CME Term SOFR + 1.442%) 5.754% 4/15/2029 <sup>(d)(e)(h)</sup>  | 20979 | 21049 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.853% 5/15/2034 <sup>(d)(e)(h)</sup>  | 41921 | 41978 |
| BX Trust, Series 2021-SDMF, Class A, (1-month USD CME Term SOFR + 0.703%) 5.015% 9/15/2034 <sup>(d)(e)(h)</sup>  | 41010 | 40894 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(d)(e)(h)</sup>  | 42300 | 42181 |
| BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 5.376% 9/15/2036 <sup>(d)(e)(h)</sup>  | 1088 | 1084 |
| BX Trust, Series 2021-ARIA, Class A, (1-month USD CME Term SOFR + 1.014%) 5.325% 10/15/2036 <sup>(d)(e)(h)</sup>  | 73046 | 73002 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.723% 10/15/2036 <sup>(d)(e)(h)</sup>  | 23226 | 23208 |
| BX Trust, Series 2022-IND, Class A, (1-month USD CME Term SOFR + 1.491%) 5.803% 4/15/2037 <sup>(d)(e)(h)</sup>  | 17465 | 17492 |
| BX Trust, Series 2022-IND, Class D, (1-month USD CME Term SOFR + 2.839%) 7.151% 4/15/2037 <sup>(d)(e)(h)</sup>  | 2978 | 2989 |
| BX Trust, Series 2021-SOAR, Class A, (1-month USD CME Term SOFR + 0.784%) 5.096% 6/15/2038 <sup>(d)(e)(h)</sup>  | 32461 | 32457 |
| BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 5.276% 11/15/2038 <sup>(d)(e)(h)</sup>  | 39036 | 39037 |
| BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 5.302% 2/15/2039 <sup>(d)(e)(h)</sup>  | 20501 | 20496 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 8/15/2039 <sup>(d)(e)(h)</sup>  | 114304 | 114901 |
| BX Trust, Series 2022-PSB, Class A, (1-month USD CME Term SOFR + 2.451%) 6.763% 8/15/2039 <sup>(d)(e)(h)</sup>  | 782 | 782 |
| BX Trust, Series 2024-BIO2, Class A, 5.594% 8/13/2041 <sup>(d)(e)(h)</sup>  | 62992 | 63905 |
| BX Trust, Series 2024-GPA2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.854% 11/15/2041 <sup>(d)(e)(h)</sup>  | 40578 | 40753 |
| BX Trust, Series 2024-GPA2, Class B, (1-month USD CME Term SOFR + 1.892%) 6.204% 11/15/2041 <sup>(d)(e)(h)</sup>  | 12691 | 12734 |
| BX Trust, Series 2025-BIO3, Class A, 6.138% 2/10/2042 <sup>(d)(h)</sup>  | 9605 | 9873 |
| BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, (1-month USD CME Term SOFR + 3.188%) 7.50% <br> 3/15/2035 <sup>(d)(e)(h)</sup>  | 11185 | 11226 |
| CALI Mortgage Trust, Series 24-SUN, Class A, (1-month USD CME Term SOFR + 1.89%) 6.203% 7/15/2041 <sup>(d)(e)(h)</sup>  | 15062 | 15106 |
| CALI Mortgage Trust, Series 24-SUN, Class B, (1-month USD CME Term SOFR + 2.34%) 6.652% 7/15/2041 <sup>(d)(e)(h)</sup>  | 11339 | 11376 |
| CART, Series 2024-DFW1, Class A, (1-month USD CME Term SOFR + 1.642%) 5.984% 8/15/2041 <sup>(d)(e)(h)</sup>  | 36135 | 36057 |
| CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/2050 <sup>(d)</sup>  | 12890 | 12539 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class A, 6.36% 7/10/2028 <sup>(d)(e)(h)</sup>  | 20000 | 20939 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(d)(e)(h)</sup>  | 55899 | 57773 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class B, 6.048% 10/12/2040 <sup>(d)(e)(h)</sup>  | 9877 | 10091 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 6.048% 10/12/2040 <sup>(d)(e)(h)</sup>  | 4900 | 4968 |
| Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 2/10/2049 <sup>(d)</sup>  | 2395 | 2365 |
| Citigroup Commercial Mortgage Trust, Series 2016-C1, Class AS, 3.514% 5/10/2049 <sup>(d)</sup>  | 800 | 786 |
| CSAIL Commercial Mortgage Trust, Series 2015-C1, Class B, 4.044% 4/15/2050 <sup>(d)(e)</sup>  | 1000 | 958 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/10/2040 <sup>(d)(h)</sup>  | 36773 | 38398 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class B, 6.804% 9/10/2040 <sup>(d)(h)</sup>  | 7074 | 7427 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.14% 9/10/2040 <sup>(d)(e)(h)</sup>  | 12887 | 13257 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class C, 7.379% 9/10/2040 <sup>(d)(e)(h)</sup>  | 5439 | 5703 |
| Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 5/10/2049 <sup>(d)</sup>  | 550 | 538 |
| ELM Trust 2024, Series 2024-ELM, Class A15, 5.994% 6/10/2039 <sup>(d)(e)(h)</sup>  | 14463 | 14584 |
| ELM Trust 2024, Series 2024-ELM, Class A10, 5.994% 6/10/2039 <sup>(d)(e)(h)</sup>  | 13140 | 13288 |
| Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 5.506% <br> 7/15/2038 <sup>(d)(e)(h)</sup>  | 19836 | 19853 |

---

---

| | |
|:---|:---|
| **27** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.806% <br> 7/15/2038 <sup>(d)(e)(h)</sup>  | USD12,348 | $12361 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 6.126% <br> 7/15/2038 <sup>(d)(e)(h)</sup>  | 9396 | 9410 |
| Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD CME Term SOFR + 2.364%) 6.676% <br> 7/15/2038 <sup>(d)(e)(h)</sup>  | 4136 | 4146 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.762% <br> 12/15/2029 <sup>(d)(e)(h)</sup>  | 16204 | 16227 |
| FS Commercial Trust, Series 2023-4SZN, Class A, 7.066% 11/10/2039 <sup>(d)(h)</sup>  | 12117 | 12418 |
| FS Trust, Series 2024-HULA, Class A, (1-month USD CME Term SOFR + 1.811%) 6.123% 8/15/2039 <sup>(d)(e)(h)</sup>  | 18000 | 18083 |
| Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 12/10/2040 <sup>(d)(h)</sup>  | 21824 | 19195 |
| Great Wolf Trust, Series 2024-WLF2, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 5/15/2041 <sup>(d)(e)(h)</sup>  | 46773 | 46957 |
| GS Mortgage Securities Corp. II, Series 2015-GS1, Class AAB, 3.553% 11/10/2048 <sup>(d)</sup>  | 194 | 193 |
| GS Mortgage Securities Trust, Series 2023-SHIP, Class B, 5.101% 9/15/2038 <sup>(d)(e)(h)</sup>  | 5265 | 5252 |
| GS Mortgage Securities Trust, Series 2024-70P, Class A, 5.487% 3/10/2041 <sup>(d)(e)(h)</sup>  | 9579 | 9637 |
| GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 8/10/2050 <sup>(d)</sup>  | 11268 | 10963 |
| GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 2/10/2052 <sup>(d)</sup>  | 405 | 395 |
| GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 5/12/2053 <sup>(d)</sup>  | 19842 | 17905 |
| GS Mortgage Securities Trust, Series 2020-GSA2, Class A5, 2.012% 12/12/2053 <sup>(d)</sup>  | 9914 | 8645 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class A, (1-month USD CME Term SOFR + 1.393%) 5.705% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 35922 | 35992 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class B, (1-month USD CME Term SOFR + 1.742%) 6.054% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 8085 | 8094 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class C, (1-month USD CME Term SOFR + 2.042%) 6.354% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 1267 | 1268 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.913% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 5432 | 5432 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(d)(e)(h)</sup>  | 83270 | 85601 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class A, 5.875% 5/10/2039 <sup>(d)(e)(h)</sup>  | 2956 | 2988 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class A, 5.649% 1/13/2040 <sup>(d)(e)(h)</sup>  | 87371 | 90158 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class A, (1-month USD CME Term SOFR + 1.35%) 5.662% <br>3/15/2042 <sup>(d)(e)(h)</sup>  | 19965 | 19907 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 3/15/2050 <sup>(d)</sup>  | 2520 | 2455 |
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 10/15/2050 <sup>(d)</sup>  | 930 | 903 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(d)(h)</sup>  | 34220 | 31206 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/2039 <sup>(d)(h)</sup>  | 8773 | 7830 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% 1/5/2039 <sup>(d)(e)(h)</sup>  | 2318 | 1967 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 12/15/2049 <sup>(d)(e)</sup>  | 8015 | 7890 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.905% 11/15/2039 <sup>(d)(e)(h)</sup>  | 12547 | 12574 |
| Manhattan West Mortgage Trust, Series 2020-1MW, Class A, 2.13% 9/10/2039 <sup>(d)(h)</sup>  | 59217 | 56032 |
| MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + 0.915%) <br> 5.227% 4/15/2038 <sup>(d)(e)(h)</sup>  | 1990 | 1991 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 4/15/2048 <sup>(d)</sup>  | 379 | 373 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 12/15/2049 <sup>(d)</sup>  | 972 | 960 |
| Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 12/15/2048 <sup>(d)</sup>  | 2490 | 2449 |
| Morgan Stanley Capital I Trust, Series 2022-L8, Class A5, 3.792% 4/15/2055 <sup>(d)(e)</sup>  | 1460 | 1362 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 8.305% 11/25/2053 <sup>(d)(e)(h)</sup>  | 16369 | 16999 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.705% 5/25/2055 <sup>(d)(e)(h)</sup>  | 7032 | 7054 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class A, 5.853% 2/10/2047 <sup>(d)(e)(h)</sup>  | 17614 | 18338 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class B, 6.125% 2/10/2047 <sup>(d)(e)(h)</sup>  | 2463 | 2554 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class B, (1-month USD CME Term SOFR + 1.692%) 6.004% <br> 2/15/2042 <sup>(d)(e)(h)</sup>  | 11881 | 11787 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) 5.703% <br> 5/15/2039 <sup>(d)(e)(h)</sup>  | 23537 | 23537 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(d)(h)</sup>  | 21946 | 19277 |
| SREIT Trust, Series 2021-MFP, Class A, (1-month USD CME Term SOFR + 0.845%) 5.157% 11/15/2038 <sup>(d)(e)(h)</sup>  | 21779 | 21772 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + 1.00%) <br> 5.312% 1/15/2039 <sup>(d)(e)(h)</sup>  | 54009 | 53831 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class A, (1-month USD CME Term SOFR + 1.443%) <br> 5.755% 3/15/2042 <sup>(d)(e)(h)</sup>  | 61822 | 61467 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class B, (1-month USD CME Term SOFR + 1.842%) <br> 6.154% 3/15/2042 <sup>(d)(e)(h)</sup>  | 9804 | 9741 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **28** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| WCORE Commercial Mortgage Trust, Series 2024-CORE, Class A, (1-month USD CME Term SOFR + 1.492%) <br> 5.804% 11/15/2041 <sup>(d)(e)(h)</sup>  | USD38,000 | $38067 |
| WCORE Commercial Mortgage Trust, Series 2024-CORE, Class B, (1-month USD CME Term SOFR + 1.842%) <br> 6.154% 11/15/2041 <sup>(d)(e)(h)</sup>  | 7053 | 7068 |
| WCORE Commercial Mortgage Trust, Series 2024-CORE, Class C, (1-month USD CME Term SOFR + 2.241%) <br> 6.553% 11/15/2041 <sup>(d)(e)(h)</sup>  | 1728 | 1732 |
| Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A4, 3.789% 9/15/2048 <sup>(d)</sup>  | 4455 | 4442 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class AS, 3.484% 6/15/2049 <sup>(d)</sup>  | 455 | 443 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 12/15/2049 <sup>(d)</sup>  | 10015 | 9878 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 12/15/2052 <sup>(d)</sup>  | 4008 | 3786 |
| Wells Fargo Commercial Mortgage Trust, Series 2022-C62, Class A4, 4.00% 4/15/2055 <sup>(d)(e)</sup>  | 11670 | 11038 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class AS, 6.52% 7/15/2057 <sup>(d)</sup>  | 3008 | 3153 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class A3, 5.92% 11/15/2057 <sup>(d)</sup>  | 11965 | 12543 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class AS, 6.145% 11/15/2057 <sup>(d)(e)</sup>  | 15633 | 16389 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 1/15/2060 <sup>(d)</sup>  | 795 | 784 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 7.101% 11/15/2027 <sup>(d)(e)(h)</sup>  | 65442 | 65583 |
| WSTN Trust, Series 2023-MAUI, Class B, 7.018% 7/5/2037 <sup>(d)(e)(h)</sup>  | 8656 | 8787 |
| WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/2037 <sup>(d)(e)(h)</sup>  | 3712 | 3765 |
| WSTN Trust, Series 2023-MAUI, Class D, 8.455% 7/5/2037 <sup>(d)(e)(h)</sup>  | 5353 | 5367 |
|  |  | 3096398 |
| **Collateralized mortgage-backed obligations (privately originated) 0.86%** | **Collateralized mortgage-backed obligations (privately originated) 0.86%** | **Collateralized mortgage-backed obligations (privately originated) 0.86%** |
| Angel Oak Mortgage Trust, Series 2024-2, Class A1, 5.985% 1/25/2069 (6.985% on 1/1/2028) <sup>(d)(h)(i)</sup>  | 7720 | 7760 |
| Angel Oak Mortgage Trust, Series 2024-7, Class A1, 5.621% 5/25/2069 (6.621% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 21476 | 21562 |
| Angel Oak Mortgage Trust, Series 2024-8, Class A1, 5.338% 5/27/2069 (6.338% on 8/1/2028) <sup>(d)(h)(i)</sup>  | 18295 | 18262 |
| Arroyo Mortgage Trust, Series 2021-1R, Class A1, 1.175% 10/25/2048 <sup>(d)(e)(h)</sup>  | 3840 | 3469 |
| Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 3/25/2055 <sup>(d)(h)</sup>  | 322 | 308 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026) <sup>(d)(h)(i)</sup>  | 12773 | 12282 |
| Atlas SP, Series 2024-RPL1, Class A1, 3.85% 4/25/2064 (4.85% on 8/1/2028) <sup>(d)(h)(i)</sup>  | 7844 | 7585 |
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/2061 <sup>(d)(e)(h)</sup>  | 6745 | 6292 |
| BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/2059 <sup>(d)(e)(h)</sup>  | 2373 | 2226 |
| BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 5/26/2059 <sup>(d)(e)(h)</sup>  | 1979 | 1937 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061 <sup>(d)(h)</sup>  | 1690 | 1550 |
| BRAVO Residential Funding Trust, Series 2023-NQM8, Class A1, 6.394% 10/25/2063 (7.394% on <br>11/1/2027) <sup>(d)(h)(i)</sup>  | 28021 | 28285 |
| BRAVO Residential Funding Trust, Series 2024-NQM1, Class A1, 5.943% 12/1/2063 (6.943% on 1/1/2028) <sup>(d)(h)(i)</sup>  | 15126 | 15214 |
| BRAVO Residential Funding Trust, Series 2024-NQM7, Class A1, 5.554% 10/27/2064 (6.554% on <br>10/1/2028) <sup>(d)(h)(i)</sup>  | 30640 | 30755 |
| BRAVO Residential Funding Trust, Series 2025-NQM1, Class A1, 5.604% 12/25/2064 <sup>(d)(h)(i)</sup>  | 44755 | 45043 |
| BRAVO Residential Funding Trust, Series 2025-NQM5, Class A1, 5.496% 2/25/2065 (6.496% on <br>5/1/2027) <sup>(d)(h)(i)</sup>  | 8741 | 8796 |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 <br>(9.405% on 11/25/2027) <sup>(d)(h)(i)</sup>  | 8175 | 8219 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/2033 <sup>(d)(e)(h)</sup>  | 1053 | 1044 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(d)(e)(h)</sup>  | 8760 | 8685 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(d)(e)(h)</sup>  | 57342 | 56131 |
| Cascade Funding Mortgage Trust, Series 2024-R1, Class A1, 4.00% 10/25/2054 (5.00% on 10/25/2028) <sup>(d)(h)(i)</sup>  | 6034 | 5927 |
| Chase Mortgage Finance Corp., Series 2024-RPL2, Class A1B, 3.25% 8/25/2064 <sup>(d)(e)(h)</sup>  | 11463 | 10082 |
| Chase Mortgage Finance Corp., Series 2024-RPL2, Class A1A, 3.25% 8/25/2064 <sup>(d)(e)(h)</sup>  | 7281 | 6461 |
| CHL Mortgage Pass-Through Trust, Series 2003-56, Class 6A1, 6.902% 12/25/2033 <sup>(d)(e)</sup>  | 215 | 221 |
| CIM Trust, Series 2022-R2, Class A1, 3.75% 12/25/2061 <sup>(d)(e)(h)</sup>  | 22744 | 21675 |
| CIM Trust, Series 2025-R1, Class A1, 5.00% 2/25/2099 (8.00% on 3/1/2028) <sup>(d)(h)(i)</sup>  | 14815 | 14658 |
| Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/2060 <sup>(d)(e)(h)</sup>  | 511 | 478 |
| COLT Funding, LLC, Series 2023-3, Class A1, 7.18% 9/25/2068 (8.18% on 9/1/2027) <sup>(d)(h)(i)</sup>  | 5427 | 5511 |
| COLT Funding, LLC, Series 2024-INV3, Class A1, 5.443% 9/25/2069 (6.443% on 8/1/2028) <sup>(d)(h)(i)</sup>  | 9629 | 9651 |
| COLT Mortgage Loan Trust, Series 2021-5, Class A1, 1.726% 11/26/2066 <sup>(d)(e)(h)</sup>  | 9957 | 8993 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 6.705% <br> 12/25/2042 <sup>(d)(e)(h)</sup>  | 30018 | 30807 |
| Connecticut Avenue Securities Trust, Series 2023-R02, Class 1M1, (30-day Average USD-SOFR + 2.30%) 6.605% <br> 1/25/2043 <sup>(d)(e)(h)</sup>  | 17442 | 17811 |
| Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) 7.855% <br> 5/25/2043 <sup>(d)(e)(h)</sup>  | 75090 | 79366 |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M1, (30-day Average USD-SOFR + 1.90%) 6.205% <br> 6/25/2043 <sup>(d)(e)(h)</sup>  | 10349 | 10452 |

---

---

| | |
|:---|:---|
| **29** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** |
| Connecticut Avenue Securities Trust, Series 2023-R05, Class 1M2, (30-day Average USD-SOFR + 3.10%) 7.405% <br> 6/25/2043 <sup>(d)(e)(h)</sup>  | USD46,402 | $48473 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M1, (30-day Average USD-SOFR + 1.70%) 6.005% <br> 7/25/2043 <sup>(d)(e)(h)</sup>  | 10843 | 10907 |
| Connecticut Avenue Securities Trust, Series 2023-R06, Class 1M2, (30-day Average USD-SOFR + 2.70%) 7.005% <br> 7/25/2043 <sup>(d)(e)(h)</sup>  | 34732 | 35894 |
| Connecticut Avenue Securities Trust, Series 2023-R08, Class 1M1, (30-day Average USD-SOFR + 1.50%) 5.805% <br> 10/25/2043 <sup>(d)(e)(h)</sup>  | 3861 | 3875 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M1, (30-day Average USD-SOFR + 1.05%) 5.355% <br> 1/25/2044 <sup>(d)(e)(h)</sup>  | 3845 | 3845 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.105% <br> 1/25/2044 <sup>(d)(e)(h)</sup>  | 6104 | 6178 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.405% <br> 2/25/2044 <sup>(d)(e)(h)</sup>  | 2775 | 2775 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M2, (30-day Average USD-SOFR + 1.80%) 6.105% <br> 2/25/2044 <sup>(d)(e)(h)</sup>  | 6661 | 6727 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.405% <br> 5/25/2044 <sup>(d)(e)(h)</sup>  | 1736 | 1736 |
| Connecticut Avenue Securities Trust, Series 2024-R04, Class 1M2, (30-day Average USD-SOFR + 1.65%) 5.955% <br> 5/25/2044 <sup>(d)(e)(h)</sup>  | 3348 | 3370 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1A1, (30-day Average USD-SOFR + 1.15%) 5.455% <br> 9/25/2044 <sup>(d)(e)(h)</sup>  | 6405 | 6430 |
| Connecticut Avenue Securities Trust, Series 2024-R06, Class 1M2, (30-day Average USD-SOFR + 1.60%) 5.905% <br> 9/25/2044 <sup>(d)(e)(h)</sup>  | 3843 | 3861 |
| Connecticut Avenue Securities, Series 2025-R01, Class 1A1, (30-day Average USD-SOFR + 0.95%) 5.255% <br> 1/25/2045 <sup>(d)(e)(h)</sup>  | 6864 | 6857 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1A1, (30-day Average USD-SOFR + 1.00%) 5.305% <br> 2/25/2045 <sup>(d)(e)(h)</sup>  | 3507 | 3511 |
| Connecticut Avenue Securities Trust, Series 2025-R02, Class 1M1, (30-day Average USD-SOFR + 1.15%) 5.455% <br> 2/25/2045 <sup>(d)(e)(h)</sup>  | 6067 | 6074 |
| CS First Boston Mortgage Securities Corp., Series 2002-30, Class IA1, 7.50% 11/25/2032 <sup>(d)</sup>  | 49 | 51 |
| CS First Boston Mortgage Securities Corp., Series 2002-34, Class IA1, 7.50% 12/25/2032 <sup>(d)</sup>  | 167 | 171 |
| CS First Boston Mortgage Securities Corp., Series 2004-5, Class IVA1, 6.00% 9/25/2034 <sup>(d)</sup>  | 557 | 565 |
| FARM Mortgage Trust, Series 2024-1, Class A1, 4.702% 10/1/2053 <sup>(d)(e)(h)</sup>  | 5949 | 5868 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class A, 5.193% 8/1/2054 <sup>(d)(e)(h)</sup>  | 7171 | 7101 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class A1, 5.196% 8/1/2054 <sup>(d)(e)(h)</sup>  | 10927 | 10919 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(d)(h)(i)</sup>  | 75917 | 73124 |
| Flagstar Mortgage Trust, Series 2021-8INV, Class A3, 2.50% 9/25/2051 <sup>(d)(e)(h)</sup>  | 14771 | 12034 |
| Flagstar Mortgage Trust, Series 2021-11INV, Class A4, 2.50% 11/25/2051 <sup>(d)(e)(h)</sup>  | 16503 | 13469 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA2, Class M1A, (30-day Average <br> USD-SOFR + 1.30%) 5.605% 2/25/2042 <sup>(d)(e)(h)</sup>  | 3082 | 3084 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1B, (30-day Average <br> USD-SOFR + 2.90%) 7.205% 4/25/2042 <sup>(d)(e)(h)</sup>  | 4587 | 4728 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1B, (30-day Average <br> USD-SOFR + 3.35%) 7.655% 5/25/2042 <sup>(d)(e)(h)</sup>  | 13523 | 14063 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average <br> USD-SOFR + 2.95%) 7.255% 6/25/2042 <sup>(d)(e)(h)</sup>  | 5812 | 5944 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1B, (30-day Average <br> USD-SOFR + 4.50%) 8.805% 6/25/2042 <sup>(d)(e)(h)</sup>  | 7690 | 8180 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.455% 9/25/2042 <sup>(d)(e)(h)</sup>  | 1759 | 1773 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA1, Class A1, (30-day Average <br> USD-SOFR + 1.35%) 5.655% 2/25/2044 <sup>(d)(e)(h)</sup>  | 5982 | 6015 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.505% 5/25/2044 <sup>(d)(e)(h)</sup>  | 5512 | 5524 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.555% 5/25/2044 <sup>(d)(e)(h)</sup>  | 46681 | 46910 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M1, (30-day Average <br> USD-SOFR + 1.00%) 5.305% 10/25/2044 <sup>(d)(e)(h)</sup>  | 6161 | 6161 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class A1, (30-day Average <br> USD-SOFR + 1.05%) 5.355% 10/25/2044 <sup>(d)(e)(h)</sup>  | 7242 | 7246 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA3, Class M2, (30-day Average <br> USD-SOFR + 1.45%) 5.755% 10/25/2044 <sup>(d)(e)(h)</sup>  | 2570 | 2577 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA1, Class A1, (30-day Average <br> USD-SOFR + 0.95%) 5.255% 1/25/2045 <sup>(d)(e)(h)</sup>  | 10624 | 10614 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **30** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 5.405% 5/25/2045 <sup>(d)(e)(h)</sup>  | USD7,199 | $7206 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class M1, (30-day Average <br> USD-SOFR + 1.20%) 5.505% 5/25/2045 <sup>(d)(e)(h)</sup>  | 6326 | 6344 |
| GCAT Trust, Series 2024-NQM2, Class A1, 6.085% 6/25/2059 (7.359% on 5/1/2028) <sup>(d)(h)(i)</sup>  | 4995 | 5039 |
| GCAT Trust, Series 2021-NQM6, Class A1, 1.855% 8/25/2066 <sup>(d)(e)(h)</sup>  | 18823 | 17075 |
| GS Mortgage-Backed Securities Trust, Series 2024-RPL2, Class A1, 3.75% 7/25/2061 (4.75% on 2/1/2028) <sup>(d)(h)(i)</sup>  | 4148 | 4043 |
| Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/2026 <sup>(d)(h)</sup>  | 13667 | 13163 |
| HOMES Trust, Series 2024-NQM1, Class A1, 5.915% 7/25/2069 (6.915% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 13548 | 13638 |
| HOMES Trust, Series 2024-NQM1, Class A2, 6.27% 7/25/2069 (7.27% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 7140 | 7190 |
| Imperial Fund Mortgage Trust, Series 2022-NQM7, Class A1, 7.369% 11/25/2067 (8.369% on 11/1/2026) <sup>(d)(h)(i)</sup>  | 4423 | 4437 |
| Imperial Fund Mortgage Trust, Series 2023-NQM1, Class A1, 5.941% 2/25/2068 (6.941% on 1/1/2027) <sup>(d)(h)(i)</sup>  | 6878 | 6877 |
| IRV Trust, Series 2025-200P, Class A, 5.471% 3/14/2047 <sup>(d)(e)(h)</sup>  | 90284 | 91457 |
| JP Morgan Mortgage Trust, Series 2024-INV1, Class A4, 6.00% 4/25/2055 <sup>(d)(e)(h)</sup>  | 6811 | 6893 |
| Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 5.75% 4/25/2061 <sup>(d)(h)</sup>  | 4863 | 4866 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(d)(h)(i)</sup>  | 9606 | 9595 |
| MFRA Trust, Series 2024-NQM3, Class A1, 5.722% 12/25/2069 (6.722% on 12/1/2028) <sup>(d)(h)(i)</sup>  | 16535 | 16648 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-INV2, Class A1, 6.50% 2/25/2054 <sup>(d)(e)(h)</sup>  | 16929 | 17258 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM2, Class A1, 6.386% 5/25/2069 (7.386% on <br> 5/1/2028) <sup>(d)(h)(i)</sup>  | 15665 | 15839 |
| New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 12/25/2057 <sup>(d)(e)(h)</sup>  | 469 | 460 |
| New Residential Mortgage Loan Trust, Series 2025-NQM2, Class A1, 5.566% 5/25/2065 <sup>(d)(h)(i)</sup>  | 16680 | 16792 |
| New York Mortgage Trust, Series 2024-CP1, Class A1, 3.75% 2/25/2068 <sup>(d)(e)(h)</sup>  | 2434 | 2255 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2024-HYB1, Class A1, 3.645% 3/25/2053 <sup>(d)(e)(h)</sup>  | 6622 | 6528 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2023-NQM4, Class A1, 6.113% 3/25/2063 (7.113% on <br> 5/1/2027) <sup>(d)(h)(i)</sup>  | 4287 | 4301 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(d)(h)(i)</sup>  | 21228 | 21316 |
| Onslow Bay Financial, LLC, Series 2024-NQM5, Class A1, 5.988% 3/25/2028 (6.988% on 3/1/2028) <sup>(d)(h)(i)</sup>  | 12763 | 12857 |
| Onslow Bay Financial, LLC, Series 2024-HYB2, Class A1, 3.677% 4/25/2053 <sup>(d)(e)(h)</sup>  | 9169 | 9159 |
| Onslow Bay Financial, LLC, Series 2022-NQM5, Class A1, 4.31% 5/25/2062 (5.31% on 5/1/2026) <sup>(d)(h)(i)</sup>  | 36483 | 36501 |
| Onslow Bay Financial, LLC, Series 2022-NQM6, Class A1, 4.70% 7/25/2062 (5.70% on 6/1/2026) <sup>(d)(h)(i)</sup>  | 42459 | 42530 |
| Onslow Bay Financial, LLC, Series 2024-NQM4, Class A1, 6.067% 1/25/2064 (7.067% on 2/1/2028) <sup>(d)(h)(i)</sup>  | 20906 | 21065 |
| Onslow Bay Financial, LLC, Series 2024-NQM6, Class A1, 6.447% 2/25/2064 (7.447% on 4/1/2028) <sup>(d)(h)(i)</sup>  | 6357 | 6443 |
| Onslow Bay Financial, LLC, Series 2024-NQM7, Class A1, 6.243% 3/25/2064 (7.243% on 4/1/2028) <sup>(d)(h)(i)</sup>  | 6935 | 7011 |
| Onslow Bay Financial, LLC, Series 2024-NQM10, Class A1, 6.18% 5/25/2064 (7.18% on 6/1/2028) <sup>(d)(h)(i)</sup>  | 30900 | 31186 |
| Onslow Bay Financial, LLC, Series 2024-NQM8, Class A1, 6.233% 5/25/2064 (7.233% on 5/1/2028) <sup>(d)(h)(i)</sup>  | 38478 | 38925 |
| Onslow Bay Financial, LLC, Series 2024-NQM13, Class A1, 5.116% 6/25/2064 (6.116% on 8/1/2028) <sup>(d)(h)(i)</sup>  | 12981 | 12940 |
| Onslow Bay Financial, LLC, Series 2024-NQM11, Class A1, 5.875% 6/25/2064 (6.825% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 11706 | 11778 |
| Onslow Bay Financial, LLC, Series 2024-NQM17, Class A1, 5.61% 11/25/2064 (6.61% on 11/1/2028) <sup>(d)(h)(i)</sup>  | 11947 | 11989 |
| Onslow Bay Financial, LLC, Series 2025-NQM3, Class A1, 5.648% 12/1/2064 (6.648% on 2/1/2029) <sup>(d)(h)(i)</sup>  | 27544 | 27714 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(d)(h)(i)</sup>  | 41493 | 41670 |
| PMT Loan Trust, Series 2024-INV1, Class A2, 6.00% 10/25/2059 <sup>(d)(e)(h)</sup>  | 7849 | 7916 |
| PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/2056 <sup>(d)(e)(h)</sup>  | 14330 | 12715 |
| Progress Residential Trust, Series 2024-SFR5, Class A, 3.00% 8/9/2029 <sup>(d)(h)</sup>  | 12820 | 12066 |
| Progress Residential Trust, Series 2024-SFR5, Class B, 3.25% 8/9/2029 <sup>(d)(h)</sup>  | 8057 | 7560 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2030 <sup>(d)(h)</sup>  | 17465 | 16457 |
| Progress Residential Trust, Series 2021-SFR6, Class A, 1.524% 7/17/2038 <sup>(d)(h)</sup>  | 18836 | 18362 |
| Progress Residential Trust, Series 2022-SFR3, Class A, 3.20% 4/17/2039 <sup>(d)(h)</sup>  | 7434 | 7256 |
| Progress Residential Trust, Series 2024-SFR1, Class A, 3.35% 2/17/2041 <sup>(d)(h)</sup>  | 17190 | 16475 |
| Progress Residential Trust, Series 2024-SFR2, Class A, 3.30% 4/17/2041 <sup>(d)(h)</sup>  | 14468 | 13827 |
| Progress Residential Trust, Series 2024-SFR2, Class D, 3.40% 4/17/2041 <sup>(d)(e)(h)</sup>  | 5757 | 5350 |
| Progress Residential Trust, Series 2024-SFR2, Class B, 3.40% 4/17/2041 <sup>(d)(e)(h)</sup>  | 3551 | 3370 |
| Progress Residential Trust, Series 2024-SFR3, Class A, 3.00% 6/17/2041 <sup>(d)(h)</sup>  | 21706 | 20488 |
| Progress Residential Trust, Series 2025-SFR1, Class B, 3.65% 2/17/2042 <sup>(d)(h)</sup>  | 8757 | 8283 |
| Progress Residential Trust, Series 2025-SFR1, Class C, 3.65% 2/17/2042 <sup>(d)(h)</sup>  | 6360 | 5939 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(d)(h)(i)</sup>  | 19982 | 19133 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class A, (1-month USD CME Term SOFR + 1.75%) <br> 6.062% 10/17/2041 <sup>(d)(e)(h)</sup>  | 40260 | 40526 |
| Starwood Mortgage Residential Trust, Series 2025-SFR5, Class A, (1-month USD CME Term SOFR + 1.45%) <br> 5.762% 2/17/2042 <sup>(d)(e)(h)</sup>  | 7495 | 7508 |
| Towd Point Mortgage Trust, Series 2015-3, Class M2, 4.00% 3/25/2054 <sup>(d)(e)(h)</sup>  | 990 | 986 |
| Towd Point Mortgage Trust, Series 2015-5, Class B1, 4.009% 5/25/2055 <sup>(d)(e)(h)</sup>  | 9945 | 9787 |
| Towd Point Mortgage Trust, Series 2016-3, Class M2, 4.00% 4/25/2056 <sup>(d)(e)(h)</sup>  | 4241 | 4209 |
| Towd Point Mortgage Trust, Series 2016-4, Class M2, 3.75% 7/25/2056 <sup>(d)(e)(h)</sup>  | 8460 | 8289 |
| Towd Point Mortgage Trust, Series 2017-2, Class M1, 3.75% 4/25/2057 <sup>(d)(e)(h)</sup>  | 9394 | 9238 |

---

---

| | |
|:---|:---|
| **31** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** |
| Towd Point Mortgage Trust, Series 2017-3, Class A2, 3.00% 7/25/2057 <sup>(d)(e)(h)</sup>  | USD11,456 | $11260 |
| Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 3/25/2058 <sup>(d)(e)(h)</sup>  | 4646 | 4593 |
| Towd Point Mortgage Trust, Series 2018-3, Class A1, 3.75% 5/25/2058 <sup>(d)(e)(h)</sup>  | 1573 | 1544 |
| Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 10/25/2060 <sup>(d)(h)</sup>  | 419 | 380 |
| Towd Point Mortgage Trust, Series 15-2, Class 1B2, 3.75% 11/25/2060 <sup>(d)(e)(h)</sup>  | 6124 | 5943 |
| Towd Point Mortgage Trust, Series 2023-1, Class A1, 3.75% 1/25/2063 <sup>(d)(h)</sup>  | 14786 | 14306 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1A, 5.107% 7/25/2065 <sup>(d)(e)(h)</sup>  | 6040 | 6163 |
| Towd Point Mortgage Trust, Series 2024-3, Class A1B, 5.107% 7/25/2065 <sup>(d)(e)(h)</sup>  | 2547 | 2583 |
| Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/2038 <sup>(d)(h)</sup>  | 2165 | 2104 |
| Tricon Residential Trust, Series 2024-SFR2, Class A, 4.75% 6/17/2040 <sup>(d)(h)</sup>  | 3428 | 3439 |
| Tricon Residential Trust, Series 2023-SFR1, Class B, 5.10% 7/17/2040 <sup>(d)(h)</sup>  | 7964 | 8003 |
| Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/2040 <sup>(d)(h)</sup>  | 1718 | 1712 |
| Tricon Residential Trust, Series 2023-SFR2, Class A, 5.00% 12/17/2040 <sup>(d)(h)</sup>  | 3456 | 3472 |
| Tricon Residential Trust, Series 2024-SFR1, Class A, 4.65% 4/17/2041 <sup>(d)(h)</sup>  | 5757 | 5756 |
| Tricon Residential Trust, Series 2024-SFR1, Class B, 4.75% 4/17/2041 <sup>(d)(h)</sup>  | 1893 | 1880 |
| Tricon Residential Trust, Series 2024-SFR3, Class A, 4.50% 8/17/2041 <sup>(d)(h)</sup>  | 33635 | 33459 |
| Tricon Residential Trust, Series 2024-SFR3, Class B, 5.00% 8/17/2041 <sup>(d)(h)</sup>  | 9692 | 9668 |
| Tricon Residential Trust, Series 2024-SFR4, Class A, 4.30% 11/17/2041 <sup>(d)(h)</sup>  | 27348 | 26980 |
| Verus Securitization Trust, Series 2023-1, Class A1, 5.85% 12/25/2067 (6.85% on 1/1/2027) <sup>(d)(h)(i)</sup>  | 7466 | 7461 |
| Verus Securitization Trust, Series 2023-3, Class A1, 5.93% 3/25/2068 (6.93% on 4/1/2027) <sup>(d)(h)(i)</sup>  | 1853 | 1856 |
| Verus Securitization Trust, Series 2023-4, Class A1, 5.811% 5/25/2068 (6.811% on 5/1/2027) <sup>(d)(h)(i)</sup>  | 4587 | 4595 |
| Verus Securitization Trust, Series 2023-5, Class A5, 6.476% 6/25/2068 (7.476% on 6/1/2027) <sup>(d)(h)(i)</sup>  | 16656 | 16766 |
| Verus Securitization Trust, Series 2024-2, Class A1, 6.095% 2/25/2069 (7.095% on 2/1/2028) <sup>(d)(h)(i)</sup>  | 40426 | 40734 |
| Verus Securitization Trust, Series 2024-3, Class A1, 6.338% 4/25/2069 (7.338% on 4/1/2028) <sup>(d)(h)(i)</sup>  | 24806 | 25096 |
| Verus Securitization Trust, Series 2024-4, Class A1, 6.218% 6/25/2069 (7.218% on 5/1/2028) <sup>(d)(h)(i)</sup>  | 8151 | 8245 |
| Verus Securitization Trust, Series 2024-5, Class A2, 6.446% 6/25/2069 (7.446% on 6/1/2028) <sup>(d)(h)(i)</sup>  | 2857 | 2889 |
| Verus Securitization Trust, Series 2024-4, Class A2, 6.572% 6/25/2069 (7.572% on 5/1/2028) <sup>(d)(h)(i)</sup>  | 3535 | 3583 |
| Verus Securitization Trust, Series 2024-6, Class A1, 5.799% 7/25/2069 (6.799% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 9574 | 9637 |
| Verus Securitization Trust, Series 2024-6, Class A2, 6.053% 7/25/2069 (7.053% on 7/1/2028) <sup>(d)(h)(i)</sup>  | 2982 | 3002 |
| Verus Securitization Trust, Series 2024-7, Class A1, 5.095% 9/25/2069 <sup>(d)(e)(h)</sup>  | 5554 | 5542 |
| Verus Securitization Trust, Series 24-R1, Class A1, 5.218% 9/25/2069 (6.218% on 10/1/2028) <sup>(d)(h)(i)</sup>  | 14625 | 14629 |
| Verus Securitization Trust, Series 2024-8, Class A1, 5.364% 10/25/2069 <sup>(d)(e)(h)</sup>  | 14490 | 14492 |
| Verus Securitization Trust, Series 2024-8, Class A2, 5.618% 10/25/2069 (6.618% on 10/1/2028) <sup>(d)(h)(i)</sup>  | 5098 | 5106 |
| Verus Securitization Trust, Series 2024-9, Class A1, 5.438% 11/25/2069 <sup>(d)(e)(h)</sup>  | 12920 | 12949 |
| Verus Securitization Trust, Series 2025-1, Class A1, 5.62% 1/25/2070 <sup>(d)(e)(h)</sup>  | 52272 | 52502 |
| Verus Securitization Trust, Series 2025-1, Class A2, 5.773% 1/25/2070 (6.773% on 1/1/2029) <sup>(d)(h)(i)</sup>  | 6811 | 6841 |
|  |  | 2150030 |
| **Total mortgage-backed obligations** |  | 29003980 |
| **Corporate bonds, notes & loans 7.76%** | **Corporate bonds, notes & loans 7.76%** | **Corporate bonds, notes & loans 7.76%** |
| **Financials 3.31%** | **Financials 3.31%** | **Financials 3.31%** |
| AerCap Ireland Capital DAC 6.50% 7/15/2025  | 348 | 348 |
| AerCap Ireland Capital DAC 1.75% 1/30/2026  | 1620 | 1592 |
| AerCap Ireland Capital DAC 2.45% 10/29/2026  | 9689 | 9443 |
| AIB Group PLC 7.583% 10/14/2026 (USD-SOFR + 3.456% on 10/14/2025) <sup>(h)(i)</sup>  | 41000 | 41343 |
| AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028) <sup>(h)(i)</sup>  | 23775 | 25166 |
| Ally Financial, Inc. 5.737% 5/15/2029 (USD-SOFR Index + 1.96% on 5/15/2028) <sup>(i)</sup>  | 9745 | 9921 |
| Ally Financial, Inc. 8.00% 11/1/2031  | 3187 | 3604 |
| Ally Financial, Inc. 8.00% 11/1/2031  | 2250 | 2563 |
| Alpha Bank SA 7.50% 6/16/2027 (1-year EUR Mid-Swap + 5.084% on 6/16/2026) <sup>(i)</sup>  | EUR5,663 | 6986 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(i)</sup>  | 11265 | 14709 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(i)</sup>  | 11380 | 14283 |
| American Express Co. 6.338% 10/30/2026 (USD-SOFR + 1.33% on 10/30/2025) <sup>(i)</sup>  | USD18,805 | 18917 |
| American Express Co. 2.55% 3/4/2027  | 13925 | 13563 |
| American Express Co. 5.85% 11/5/2027  | 3900 | 4043 |
| American Express Co. (USD-SOFR + 0.93%) 5.282% 7/26/2028 <sup>(e)</sup>  | 20000 | 20100 |
| American Express Co. 5.016% 4/25/2031 (USD-SOFR + 1.44% on 4/25/2030) <sup>(i)</sup>  | 24681 | 25209 |
| American Express Co. 6.489% 10/30/2031 (USD-SOFR + 1.94% on 10/30/2030) <sup>(i)</sup>  | 18496 | 20159 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(i)</sup>  | 27994 | 28587 |
| American Express Co. 5.667% 4/25/2036 (USD-SOFR + 1.79% on 4/25/2035) <sup>(i)</sup>  | 9286 | 9620 |
| American International Group, Inc. 4.85% 5/7/2030  | 10119 | 10285 |
| American International Group, Inc. 5.125% 3/27/2033  | 19135 | 19466 |
| American International Group, Inc. 4.375% 6/30/2050  | 169 | 142 |
| Aon North America, Inc. 5.15% 3/1/2029  | 15000 | 15367 |
| Aon North America, Inc. 5.45% 3/1/2034  | 5000 | 5139 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **32** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Arthur J. Gallagher & Co. 4.85% 12/15/2029  | USD30,000 | $30459 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 22682 | 22706 |
| Arthur J. Gallagher & Co. 3.50% 5/20/2051  | 280 | 195 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 10991 | 10550 |
| Athene Global Funding 4.83% 5/9/2028 <sup>(h)</sup>  | 30000 | 30177 |
| Australia and New Zealand Banking Group, Ltd. 6.742% 12/8/2032 <sup>(h)</sup>  | 4676 | 5098 |
| Banco de Credito Social Cooperativo, SA 7.50% 9/14/2029 (1-year EUR-ICE Swap EURIBOR + 4.269% on <br> 9/14/2028) <sup>(i)</sup>  | EUR6,200 | 8292 |
| Banco de Credito Social Cooperativo, SA 4.125% 9/3/2030 (1-year EUR-ICE Swap EURIBOR + 1.70% on <br> 9/3/2029) <sup>(i)</sup>  | 23800 | 28992 |
| Banco Santander, SA 5.147% 8/18/2025  | USD9,200 | 9208 |
| Banco Santander, SA 1.722% 9/14/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.90% on <br> 9/14/2026) <sup>(i)</sup>  | 20600 | 19904 |
| Banco Santander, SA 5.565% 1/17/2030  | 59800 | 62104 |
| Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% <br> on 9/25/2029) <sup>(i)</sup>  | 15845 | 14751 |
| Bank of America Corp. 1.197% 10/24/2026 (USD-SOFR + 1.01% on 10/24/2025) <sup>(i)</sup>  | 2713 | 2685 |
| Bank of America Corp. 5.08% 1/20/2027 (USD-SOFR + 1.29% on 1/20/2026) <sup>(i)</sup>  | 19918 | 19973 |
| Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027) <sup>(i)</sup>  | 4654 | 4655 |
| Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027) <sup>(i)</sup>  | 18200 | 18413 |
| Bank of America Corp. 3.419% 12/20/2028 (3-month USD CME Term SOFR + 1.302% on 12/20/2027) <sup>(i)</sup>  | 42684 | 41731 |
| Bank of America Corp. 4.623% 5/9/2029 (USD-SOFR + 1.11% on 5/9/2028) <sup>(i)</sup>  | 19000 | 19123 |
| Bank of America Corp. 2.087% 6/14/2029 (USD-SOFR + 1.06% on 6/14/2028) <sup>(i)</sup>  | 38230 | 35840 |
| Bank of America Corp. 5.819% 9/15/2029 (USD-SOFR + 1.57% on 9/15/2028) <sup>(i)</sup>  | 12350 | 12867 |
| Bank of America Corp. 2.884% 10/22/2030 (3-month USD CME Term SOFR + 1.19% on 10/22/2029) <sup>(i)</sup>  | 18663 | 17472 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(i)</sup>  | 208 | 213 |
| Bank of America Corp. 2.496% 2/13/2031 (3-month USD CME Term SOFR + 1.252% on 2/13/2030) <sup>(i)</sup>  | 2315 | 2115 |
| Bank of America Corp. 2.592% 4/29/2031 (USD-SOFR + 2.15% on 4/29/2030) <sup>(i)</sup>  | 15378 | 14063 |
| Bank of America Corp. 1.898% 7/23/2031 (USD-SOFR + 1.53% on 7/23/2030) <sup>(i)</sup>  | 2975 | 2615 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(i)</sup>  | 19327 | 16859 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(i)</sup>  | 92260 | 80422 |
| Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033) <sup>(i)</sup>  | 31759 | 32407 |
| Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033) <sup>(i)</sup>  | 9226 | 9739 |
| Bank of America Corp. 5.511% 1/24/2036 (USD-SOFR + 1.31% on 1/24/2035) <sup>(i)</sup>  | 2097 | 2157 |
| Bank of Ireland Group PLC 6.253% 9/16/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.65% on <br> 9/16/2025) <sup>(h)(i)</sup>  | 5000 | 5016 |
| Bank of Montreal 5.203% 2/1/2028  | 5000 | 5115 |
| Bank of New York Mellon Corp. 4.947% 4/26/2027 (USD-SOFR + 1.026% on 4/26/2026) <sup>(i)</sup>  | 15000 | 15072 |
| Bank of New York Mellon Corp. 5.802% 10/25/2028 (USD-SOFR + 1.802% on 10/25/2027) <sup>(i)</sup>  | 18829 | 19507 |
| Bank of New York Mellon Corp. 4.534% 2/1/2029 (USD-SOFR + 1.169% on 2/1/2028) <sup>(i)</sup>  | 4444 | 4479 |
| Bank of New York Mellon Corp. 4.975% 3/14/2030 (USD-SOFR + 1.085% on 3/14/2029) <sup>(i)</sup>  | 27889 | 28561 |
| Bank of New York Mellon Corp. 4.942% 2/11/2031 (USD-SOFR + 0.887% on 2/11/2030) <sup>(i)</sup>  | 14393 | 14701 |
| Bank of New York Mellon Corp. 5.06% 7/22/2032 (USD-SOFR + 1.23% on 7/22/2031) <sup>(i)</sup>  | 20000 | 20479 |
| Bank of New York Mellon Corp. 4.705% 2/1/2034 (USD-SOFR + 1.512% on 2/1/2033) <sup>(i)</sup>  | 5613 | 5553 |
| Bank of New York Mellon Corp. 5.316% 6/6/2036 (USD-SOFR + 1.35% on 6/6/2035) <sup>(i)</sup>  | 14993 | 15311 |
| Bank of Nova Scotia (The) 5.40% 6/4/2027  | 10000 | 10236 |
| Bank of Nova Scotia (The) 5.25% 6/12/2028  | 20000 | 20614 |
| Banque Federative du Credit Mutuel 0.82% 10/16/2026  | JPY1,700,000 | 11754 |
| Banque Federative du Credit Mutuel 5.088% 1/23/2027 <sup>(h)</sup>  | USD20,000 | 20231 |
| Barclays Bank PLC 7.437% 11/2/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.50% on <br> 11/2/2032) <sup>(i)</sup>  | 25000 | 28383 |
| Barclays PLC 5.829% 5/9/2027 (USD-SOFR + 2.21% on 5/9/2026) <sup>(i)</sup>  | 25000 | 25259 |
| Barclays PLC 6.49% 9/13/2029 (USD-SOFR + 2.22% on 9/13/2028) <sup>(i)</sup>  | 10000 | 10574 |
| Barclays PLC 5.367% 2/25/2031 (USD-SOFR + 1.23% on 2/25/2030) <sup>(i)</sup>  | 20000 | 20435 |
| Blackstone Holdings Finance Co., LLC 5.90% 11/3/2027 <sup>(h)</sup>  | 7000 | 7240 |
| Blackstone, Inc. 5.00% 12/6/2034  | 7252 | 7223 |
| BNP Paribas SA 4.375% 9/28/2025 <sup>(h)</sup>  | 5700 | 5689 |
| BNP Paribas SA 4.375% 5/12/2026 <sup>(h)</sup>  | 6350 | 6337 |
| BNP Paribas SA 2.591% 1/20/2028 (USD-SOFR + 1.228% on 1/20/2027) <sup>(h)(i)</sup>  | 36352 | 35295 |
| BNP Paribas SA 2.159% 9/15/2029 (USD-SOFR + 1.218% on 9/15/2028) <sup>(h)(i)</sup>  | 41588 | 38562 |
| BNP Paribas SA 5.497% 5/20/2030 (USD-SOFR + 1.59% on 5/20/2029) <sup>(h)(i)</sup>  | 83320 | 85580 |
| BNP Paribas SA 5.283% 11/19/2030 (USD-SOFR + 1.28% on 11/19/2029) <sup>(h)(i)</sup>  | 3708 | 3780 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031) <sup>(h)(i)</sup>  | 5501 | 4931 |
| BPCE SA 1.00% 1/20/2026 <sup>(h)</sup>  | 8345 | 8186 |
| BPCE SA 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025) <sup>(h)(i)</sup>  | 12975 | 12870 |
| BPCE SA 0.895% 12/14/2026  | JPY400,000 | 2766 |

---

---

| | |
|:---|:---|
| **33** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| BPCE SA 5.975% 1/18/2027 (USD-SOFR + 2.10% on 1/18/2026) <sup>(h)(i)</sup>  | USD22,514 | $22670 |
| BPCE SA 6.714% 10/19/2029 (USD-SOFR + 2.27% on 10/19/2028) <sup>(h)(i)</sup>  | 28000 | 29662 |
| BPCE SA 5.716% 1/18/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.959% on 1/18/2029) <sup>(h)(i)</sup>  | 22000 | 22656 |
| BPCE SA 5.876% 1/14/2031 (USD-SOFR + 1.68% on 1/14/2030) <sup>(h)(i)</sup>  | 57500 | 59663 |
| BPCE SA 5.389% 5/28/2031 (USD-SOFR + 1.581% on 5/28/2030) <sup>(h)(i)</sup>  | 42917 | 43715 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(h)(i)</sup>  | 40000 | 42027 |
| BPCE SA 6.027% 5/28/2036 (USD-SOFR + 1.956% on 5/28/2035) <sup>(h)(i)</sup>  | 57894 | 59662 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 32872 | 33533 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 27334 | 28202 |
| CaixaBank, SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028) <sup>(h)(i)</sup>  | 3600 | 3743 |
| CaixaBank, SA 4.634% 7/3/2029 (USD-SOFR + 1.14% on 7/3/2028) <sup>(h)(i)</sup>  | 30000 | 30081 |
| CaixaBank, SA 5.673% 3/15/2030 (USD-SOFR + 1.78% on 3/15/2029) <sup>(h)(i)</sup>  | 51174 | 52939 |
| CaixaBank, SA 4.885% 7/3/2031 (USD-SOFR + 1.36% on 7/3/2030) <sup>(h)(i)</sup>  | 20250 | 20338 |
| CaixaBank, SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033) <sup>(h)(i)</sup>  | 600 | 659 |
| CaixaBank, SA 6.037% 6/15/2035 (USD-SOFR + 2.26% on 9/15/2034) <sup>(h)(i)</sup>  | 8050 | 8427 |
| CaixaBank, SA 5.581% 7/3/2036 (USD-SOFR + 1.79% on 7/3/2035) <sup>(h)(i)</sup>  | 40096 | 40523 |
| Canadian Imperial Bank of Commerce 5.237% 6/28/2027  | 15000 | 15277 |
| Canadian Imperial Bank of Commerce 5.986% 10/3/2028  | 15000 | 15750 |
| Canadian Imperial Bank of Commerce 4.857% 3/30/2029 (USD-SOFR + 1.03% on 3/31/2028) <sup>(i)</sup>  | 25000 | 25274 |
| Canadian Imperial Bank of Commerce 4.631% 9/11/2030 (USD-SOFR + 1.335% on 9/11/2029) <sup>(i)</sup>  | 8481 | 8485 |
| Canadian Imperial Bank of Commerce 5.245% 1/13/2031 (USD-SOFR + 1.105% on 1/13/2030) <sup>(i)</sup>  | 20000 | 20494 |
| Capital One Financial Corp. 4.985% 7/24/2026 (USD-SOFR + 2.16% on 7/24/2025) <sup>(i)</sup>  | 22000 | 21999 |
| Capital One Financial Corp. 4.927% 5/10/2028 (USD-SOFR + 2.057% on 5/10/2027) <sup>(i)</sup>  | 16951 | 17082 |
| Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029) <sup>(i)</sup>  | 6835 | 7072 |
| Capital One Financial Corp. 5.463% 7/26/2030 (USD-SOFR + 1.56% on 7/26/2029) <sup>(i)</sup>  | 35961 | 37013 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(i)</sup>  | 11688 | 12188 |
| Capital One Financial Corp. 5.884% 7/26/2035 (USD-SOFR + 1.99% on 7/26/2034) <sup>(i)</sup>  | 15796 | 16293 |
| Charles Schwab Corp. (The) 3.45% 2/13/2026  | 1616 | 1607 |
| Charles Schwab Corp. (The) 2.45% 3/3/2027  | 1420 | 1381 |
| Charles Schwab Corp. (The) 5.643% 5/19/2029 (USD-SOFR + 2.21% on 5/19/2028) <sup>(i)</sup>  | 12000 | 12441 |
| Charles Schwab Corp. (The) 6.196% 11/17/2029 (USD-SOFR + 1.878% on 11/17/2028) <sup>(i)</sup>  | 20000 | 21228 |
| Charles Schwab Corp. (The) 6.136% 8/24/2034 (USD-SOFR + 2.01% on 8/24/2033) <sup>(i)</sup>  | 15000 | 16236 |
| China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031  | 9029 | 8061 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 17193 | 17525 |
| Citibank, NA 4.914% 5/29/2030  | 22800 | 23243 |
| Citigroup, Inc. 5.61% 9/29/2026 (USD-SOFR + 1.546% on 12/29/2025) <sup>(i)</sup>  | 48294 | 48405 |
| Citigroup, Inc. 1.122% 1/28/2027 (USD-SOFR + 0.765% on 1/28/2026) <sup>(i)</sup>  | 5000 | 4902 |
| Citigroup, Inc. 1.462% 6/9/2027 (USD-SOFR + 0.67% on 6/9/2026) <sup>(i)</sup>  | 19351 | 18806 |
| Citigroup, Inc. 3.887% 1/10/2028 (3-month USD CME Term SOFR + 1.825% on 1/10/2027) <sup>(i)</sup>  | 10649 | 10555 |
| Citigroup, Inc. 3.07% 2/24/2028 (USD-SOFR + 1.28% on 2/24/2027) <sup>(i)</sup>  | 15570 | 15230 |
| Citigroup, Inc. 4.643% 5/7/2028 (USD-SOFR + 1.143% on 5/7/2027) <sup>(i)</sup>  | 39000 | 39109 |
| Citigroup, Inc. 4.786% 3/4/2029 (USD-SOFR + 0.87% on 3/4/2028) <sup>(i)</sup>  | 55250 | 55654 |
| Citigroup, Inc. 4.075% 4/23/2029 (3-month USD CME Term SOFR + 1.454% on 4/23/2028) <sup>(i)</sup>  | 30000 | 29707 |
| Citigroup, Inc. 5.174% 2/13/2030 (USD-SOFR + 1.364% on 2/13/2029) <sup>(i)</sup>  | 11197 | 11426 |
| Citigroup, Inc. 4.542% 9/19/2030 (USD-SOFR + 1.338% on 9/19/2029) <sup>(i)</sup>  | 59267 | 59011 |
| Citigroup, Inc. 2.666% 1/29/2031 (USD-SOFR + 1.146% on 1/29/2030) <sup>(i)</sup>  | 17290 | 15857 |
| Citigroup, Inc. 4.952% 5/7/2031 (USD-SOFR + 1.463% on 5/7/2030) <sup>(i)</sup>  | 41158 | 41638 |
| Citigroup, Inc. 2.572% 6/3/2031 (USD-SOFR + 2.107% on 6/3/2030) <sup>(i)</sup>  | 81231 | 73690 |
| Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031) <sup>(i)</sup>  | 21398 | 18715 |
| Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032) <sup>(i)</sup>  | 4414 | 4127 |
| Citigroup, Inc. 4.91% 5/24/2033 (USD-SOFR + 2.086% on 5/24/2032) <sup>(i)</sup>  | 8150 | 8135 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(i)</sup>  | 6076 | 6243 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(i)</sup>  | 7064 | 7122 |
| Citizens Financial Group, Inc. 5.841% 1/23/2030 (USD-SOFR + 2.01% on 1/23/2029) <sup>(i)</sup>  | 58239 | 60333 |
| Citizens Financial Group, Inc. 5.718% 7/23/2032 (USD-SOFR + 1.91% on 7/23/2031) <sup>(i)</sup>  | 45156 | 46732 |
| Citizens Financial Group, Inc. 6.645% 4/25/2035 (USD-SOFR + 2.325% on 4/25/2034) <sup>(i)</sup>  | 16750 | 18064 |
| CME Group, Inc. 3.75% 6/15/2028  | 2230 | 2216 |
| Corebridge Financial, Inc. 3.65% 4/5/2027  | 15044 | 14851 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 10219 | 10017 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 1707 | 1603 |
| Corebridge Financial, Inc. 4.35% 4/5/2042  | 1622 | 1365 |
| Corebridge Financial, Inc. 4.40% 4/5/2052  | 2907 | 2327 |
| Corebridge Global Funding 5.75% 7/2/2026 <sup>(h)</sup>  | 5569 | 5641 |
| Corebridge Global Funding 4.65% 8/20/2027 <sup>(h)</sup>  | 15470 | 15586 |
| Corebridge Global Funding 4.90% 1/7/2028 <sup>(h)</sup>  | 14090 | 14309 |
| Corebridge Global Funding 5.20% 6/24/2029 <sup>(h)</sup>  | 15000 | 15359 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **34** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Corebridge Global Funding 4.90% 12/3/2029 <sup>(h)</sup>  | USD15,000 | $15225 |
| Credit Agricole SA 1.247% 1/26/2027 (USD-SOFR + 0.892% on 1/26/2026) <sup>(h)(i)</sup>  | 13656 | 13397 |
| Credit Agricole SA 4.631% 9/11/2028 (USD-SOFR + 1.21% on 9/11/2027) <sup>(h)(i)</sup>  | 10125 | 10141 |
| Danske Bank AS 6.259% 9/22/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.18% on <br> 9/22/2025) <sup>(h)(i)</sup>  | 30000 | 30094 |
| Danske Bank AS 1.549% 9/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.73% on <br> 9/10/2026) <sup>(h)(i)</sup>  | 37800 | 36525 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br>4/1/2027) <sup>(h)(i)</sup>  | 14225 | 14179 |
| Deutsche Bank AG 5.297% 5/9/2031 (USD-SOFR + 1.72% on 5/9/2030) <sup>(i)</sup>  | 39000 | 39620 |
| Deutsche Bank AG 4.10% 1/13/2026  | 21547 | 21477 |
| Deutsche Bank AG 4.10% 1/13/2026  | 5139 | 5123 |
| Deutsche Bank AG 6.119% 7/14/2026 (USD-SOFR + 3.19% on 7/14/2025) <sup>(i)</sup>  | 8105 | 8108 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(i)</sup>  | 6876 | 6807 |
| Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026) <sup>(i)</sup>  | 78004 | 75706 |
| Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027) <sup>(i)</sup>  | 150778 | 146493 |
| Deutsche Bank AG 5.706% 2/8/2028 (USD-SOFR + 1.594% on 2/8/2027) <sup>(i)</sup>  | 48842 | 49661 |
| Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028) <sup>(i)</sup>  | 74614 | 78398 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(i)</sup>  | 55895 | 59654 |
| Deutsche Bank AG 4.999% 9/11/2030 (USD-SOFR + 1.70% on 9/11/2029) <sup>(i)</sup>  | 12476 | 12574 |
| Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030) <sup>(i)</sup>  | 29035 | 27169 |
| DNB Bank ASA 5.896% 10/9/2026 (USD-SOFR + 1.95% on 10/9/2025) <sup>(h)(i)</sup>  | 41250 | 41404 |
| Eurobank SA 7.00% 1/26/2029 (1-year EUR Mid-Swap + 4.418% on 1/26/2028) <sup>(i)</sup>  | EUR25,426 | 32971 |
| Eurobank SA 5.875% 11/28/2029 (1-year EUR Mid-Swap + 2.83% on 11/28/2028) <sup>(i)</sup>  | 11040 | 14159 |
| Eurobank SA 4.00% 9/24/2030 (1-year EUR Mid-Swap + 2.127% on 9/24/2029) <sup>(i)</sup>  | 2383 | 2883 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(i)</sup>  | 49115 | 61532 |
| Fidelity National Information Services, Inc. 3.10% 3/1/2041  | USD1,085 | 798 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(i)</sup>  | 4290 | 4519 |
| Fifth Third Bancorp 4.895% 9/6/2030 (USD-SOFR + 1.486% on 9/6/2029) <sup>(i)</sup>  | 3499 | 3539 |
| Fifth Third Bancorp 5.631% 1/29/2032 (USD-SOFR + 1.84% on 1/29/2031) <sup>(i)</sup>  | 58605 | 61006 |
| First Citizens BancShares, Inc. 5.231% 3/12/2031 (USD-SOFR + 1.41% on 3/12/2030) <sup>(i)</sup>  | 76586 | 77010 |
| Fiserv, Inc. 3.50% 7/1/2029  | 1077 | 1038 |
| Five Corners Funding Trust III 5.791% 2/15/2033 <sup>(h)</sup>  | 7000 | 7285 |
| Five Corners Funding Trust IV 5.997% 2/15/2053 <sup>(h)</sup>  | 384 | 392 |
| GA Global Funding Trust 5.50% 4/1/2032 <sup>(h)</sup>  | 30000 | 30512 |
| Goldman Sachs Group, Inc. 1.431% 3/9/2027 (USD-SOFR + 0.795% on 3/9/2026) <sup>(i)</sup>  | 15000 | 14678 |
| Goldman Sachs Group, Inc. 1.542% 9/10/2027 (USD-SOFR + 0.818% on 9/10/2026) <sup>(i)</sup>  | 9437 | 9114 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(i)</sup>  | 33244 | 32197 |
| Goldman Sachs Group, Inc. 2.64% 2/24/2028 (USD-SOFR + 1.114% on 2/24/2027) <sup>(i)</sup>  | 50192 | 48763 |
| Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027) <sup>(i)</sup>  | 17830 | 17587 |
| Goldman Sachs Group, Inc. 4.937% 4/23/2028 (USD-SOFR + 1.319% on 4/23/2027) <sup>(i)</sup>  | 39000 | 39319 |
| Goldman Sachs Group, Inc. 5.727% 4/25/2030 (USD-SOFR + 1.265% on 4/25/2029) <sup>(i)</sup>  | 21475 | 22359 |
| Goldman Sachs Group, Inc. 5.049% 7/23/2030 (USD-SOFR + 1.21% on 7/23/2029) <sup>(i)</sup>  | 23639 | 24037 |
| Goldman Sachs Group, Inc. 4.692% 10/23/2030 (USD-SOFR + 1.135% on 10/23/2029) <sup>(i)</sup>  | 68591 | 68812 |
| Goldman Sachs Group, Inc. 5.207% 1/28/2031 (USD-SOFR + 1.078% on 1/28/2030) <sup>(i)</sup>  | 46754 | 47863 |
| Goldman Sachs Group, Inc. 5.218% 4/23/2031 (USD-SOFR + 1.58% on 4/23/2030) <sup>(i)</sup>  | 53415 | 54773 |
| Goldman Sachs Group, Inc. 1.992% 1/27/2032 (USD-SOFR + 1.09% on 1/27/2031) <sup>(i)</sup>  | 6895 | 5974 |
| Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031) <sup>(i)</sup>  | 29795 | 26336 |
| Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032) <sup>(i)</sup>  | 47338 | 42619 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(i)</sup>  | 22753 | 23342 |
| HSBC Holdings PLC 5.887% 8/14/2027 (USD-SOFR + 1.57% on 8/14/2026) <sup>(i)</sup>  | 3250 | 3297 |
| HSBC Holdings PLC 5.597% 5/17/2028 (USD-SOFR + 1.06% on 5/17/2027) <sup>(i)</sup>  | 18878 | 19238 |
| HSBC Holdings PLC 7.39% 11/3/2028 (USD-SOFR + 7.39% on 11/3/2027) <sup>(i)</sup>  | 13250 | 14074 |
| HSBC Holdings PLC 5.13% 11/19/2028 (USD-SOFR + 1.04% on 11/19/2027) <sup>(i)</sup>  | 54000 | 54698 |
| HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028) <sup>(i)</sup>  | 33335 | 31060 |
| HSBC Holdings PLC 5.13% 3/3/2031 (USD-SOFR + 1.29% on 3/3/2030) <sup>(i)</sup>  | 6769 | 6861 |
| HSBC Holdings PLC 5.24% 5/13/2031 (USD-SOFR + 1.57% on 5/13/2030) <sup>(i)</sup>  | 74000 | 75364 |
| HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031) <sup>(i)</sup>  | 4000 | 3555 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(i)</sup>  | 4307 | 3812 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(i)</sup>  | 68428 | 68831 |
| HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043) <sup>(i)</sup>  | 2022 | 2172 |
| Huntington Bancshares, Inc. 5.272% 1/15/2031 (USD-SOFR + 1.276% on 1/15/2030) <sup>(i)</sup>  | 20000 | 20498 |
| ING Groep NV 6.083% 9/11/2027 (USD-SOFR + 1.56% on 9/11/2026) <sup>(i)</sup>  | 45000 | 45836 |
| Intercontinental Exchange, Inc. 5.25% 6/15/2031  | 13320 | 13815 |
| Intesa Sanpaolo SpA 7.00% 11/21/2025 <sup>(h)</sup>  | 2550 | 2570 |
| Intesa Sanpaolo SpA 3.875% 7/14/2027 <sup>(h)</sup>  | 70094 | 69198 |

---

---

| | |
|:---|:---|
| **35** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Intesa Sanpaolo SpA 3.875% 1/12/2028 <sup>(h)</sup>  | USD43,573 | $42755 |
| Intesa Sanpaolo SpA 8.248% 11/21/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 4.40% on <br> 11/21/2032) <sup>(h)(i)</sup>  | 24225 | 28132 |
| Intesa Sanpaolo SpA 7.778% 6/20/2054 (1-year UST Yield Curve Rate T Note Constant Maturity + 3.90% on <br> 6/20/2053) <sup>(h)(i)</sup>  | 16555 | 18590 |
| Jackson National Life Global Funding 5.35% 1/13/2030 <sup>(h)</sup>  | 36000 | 37053 |
| JPMorgan Chase & Co. 1.04% 2/4/2027 (USD-SOFR + 0.695% on 2/4/2026) <sup>(i)</sup>  | 13649 | 13369 |
| JPMorgan Chase & Co. 6.07% 10/22/2027 (USD-SOFR + 1.33% on 10/22/2026) <sup>(i)</sup>  | 20000 | 20440 |
| JPMorgan Chase & Co. 5.04% 1/23/2028 (USD-SOFR + 1.19% on 1/23/2027) <sup>(i)</sup>  | 21182 | 21390 |
| JPMorgan Chase & Co. 2.947% 2/24/2028 (USD-SOFR + 1.17% on 2/24/2027) <sup>(i)</sup>  | 6992 | 6835 |
| JPMorgan Chase & Co. 5.571% 4/22/2028 (USD-SOFR + 0.93% on 4/22/2027) <sup>(i)</sup>  | 25109 | 25634 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027) <sup>(i)</sup>  | 9810 | 9804 |
| JPMorgan Chase & Co. 4.979% 7/22/2028 (USD-SOFR + 0.93% on 7/22/2027) <sup>(i)</sup>  | 27745 | 28107 |
| JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027) <sup>(i)</sup>  | 27207 | 27496 |
| JPMorgan Chase & Co. 4.505% 10/22/2028 (USD-SOFR + 0.86% on 10/22/2027) <sup>(i)</sup>  | 38803 | 38927 |
| JPMorgan Chase & Co. 4.203% 7/23/2029 (3-month USD CME Term SOFR + 1.522% on 7/23/2028) <sup>(i)</sup>  | 12599 | 12548 |
| JPMorgan Chase & Co. 5.299% 7/24/2029 (USD-SOFR + 1.45% on 7/24/2028) <sup>(i)</sup>  | 21519 | 22098 |
| JPMorgan Chase & Co. 6.087% 10/23/2029 (USD-SOFR + 1.57% on 10/23/2028) <sup>(i)</sup>  | 18342 | 19282 |
| JPMorgan Chase & Co. 5.581% 4/22/2030 (USD-SOFR + 1.16% on 4/22/2029) <sup>(i)</sup>  | 14156 | 14702 |
| JPMorgan Chase & Co. 4.995% 7/22/2030 (USD-SOFR + 1.125% on 7/22/2029) <sup>(i)</sup>  | 7591 | 7731 |
| JPMorgan Chase & Co. 4.603% 10/22/2030 (USD-SOFR + 1.04% on 10/22/2029) <sup>(i)</sup>  | 29611 | 29718 |
| JPMorgan Chase & Co. 2.522% 4/22/2031 (USD-SOFR + 2.04% on 4/22/2030) <sup>(i)</sup>  | 102 | 93 |
| JPMorgan Chase & Co. 1.764% 11/19/2031 (3-month USD CME Term SOFR + 1.105% on 11/19/2030) <sup>(i)</sup>  | 1805 | 1564 |
| JPMorgan Chase & Co. 5.294% 7/22/2035 (USD-SOFR + 1.46% on 7/22/2034) <sup>(i)</sup>  | 9162 | 9327 |
| JPMorgan Chase & Co. 5.502% 1/24/2036 (USD-SOFR + 1.315% on 1/24/2035) <sup>(i)</sup>  | 14622 | 15067 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(i)</sup>  | 30000 | 31102 |
| KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on <br>1/19/2028) <sup>(h)(i)</sup>  | 7675 | 7927 |
| KBC Groep NV 4.932% 10/16/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.07% on <br>10/16/2029) <sup>(h)(i)</sup>  | 18322 | 18538 |
| KBC Groep NV 6.324% 9/21/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.05% on <br>9/21/2033) <sup>(h)(i)</sup>  | 9200 | 9862 |
| KfW 0.375% 7/18/2025  | 7671 | 7656 |
| KfW 5.125% 9/29/2025  | 40003 | 40075 |
| Kookmin Bank 5.375% 5/8/2027 <sup>(h)</sup>  | 19600 | 20002 |
| Korea Exchange Bank 5.375% 4/23/2027 <sup>(h)</sup>  | 8750 | 8926 |
| Lloyds Banking Group PLC 1.627% 5/11/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br> 5/11/2026) <sup>(i)</sup>  | 1000 | 975 |
| Lloyds Banking Group PLC 5.985% 8/7/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.48% on <br> 8/7/2026) <sup>(i)</sup>  | 35000 | 35538 |
| Lloyds Banking Group PLC 5.462% 1/5/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.375% on <br> 1/5/2027) <sup>(i)</sup>  | 8800 | 8922 |
| Lloyds Banking Group PLC 3.75% 3/18/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on <br> 3/18/2027) <sup>(i)</sup>  | 36042 | 35613 |
| Lloyds Banking Group PLC 5.871% 3/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on <br> 3/6/2028) <sup>(i)</sup>  | 4050 | 4187 |
| Lloyds Banking Group PLC 5.721% 6/5/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.07% on <br> 6/5/2029) <sup>(i)</sup>  | 14229 | 14782 |
| Lloyds Banking Group PLC 5.679% 1/5/2035 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 1/5/2034) <sup>(i)</sup>  | 3088 | 3171 |
| M&T Bank Corp. 7.413% 10/30/2029 (USD-SOFR + 2.80% on 10/30/2028) <sup>(i)</sup>  | 39269 | 42597 |
| M&T Bank Corp. 6.082% 3/13/2032 (USD-SOFR + 2.26% on 3/13/2031) <sup>(i)</sup>  | 42000 | 44368 |
| M&T Bank Corp. 5.053% 1/27/2034 (USD-SOFR + 1.85% on 1/27/2033) <sup>(i)</sup>  | 27184 | 26843 |
| Marsh & McLennan Cos., Inc. 4.375% 3/15/2029  | 3750 | 3766 |
| Marsh & McLennan Cos., Inc. 2.25% 11/15/2030  | 7010 | 6281 |
| Marsh & McLennan Cos., Inc. 4.85% 11/15/2031  | 28000 | 28448 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 9250 | 9252 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 8250 | 7957 |
| Mastercard, Inc. 4.875% 3/9/2028  | 842 | 861 |
| Mastercard, Inc. 4.35% 1/15/2032  | 18931 | 18857 |
| Mastercard, Inc. 4.85% 3/9/2033  | 9244 | 9424 |
| Metropolitan Life Global Funding I 5.05% 1/6/2028 <sup>(h)</sup>  | 7000 | 7147 |
| Metropolitan Life Global Funding I 5.40% 9/12/2028 <sup>(h)</sup>  | 35000 | 36277 |
| Metropolitan Life Global Funding I 4.85% 1/8/2029 <sup>(h)</sup>  | 10000 | 10188 |
| Metropolitan Life Global Funding I 2.95% 4/9/2030 <sup>(h)</sup>  | 10000 | 9363 |
| Metropolitan Life Global Funding I 5.15% 3/28/2033 <sup>(h)</sup>  | 7668 | 7786 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **36** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Mitsubishi UFJ Financial Group, Inc. 1.538% 7/20/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.75% on 7/20/2026) <sup>(i)</sup>  | USD27,656 | $26840 |
| Mitsubishi UFJ Financial Group, Inc. 1.64% 10/13/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.67% on 10/13/2026) <sup>(i)</sup>  | 7321 | 7069 |
| Mitsubishi UFJ Financial Group, Inc. 2.341% 1/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 0.83% on 1/19/2027) <sup>(i)</sup>  | 5078 | 4919 |
| Mitsubishi UFJ Financial Group, Inc. 4.08% 4/19/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + <br> 1.30% on 4/19/2027) <sup>(i)</sup>  | 4867 | 4841 |
| Mizuho Financial Group, Inc. 1.554% 7/9/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.75% on <br> 7/9/2026) <sup>(i)</sup>  | 7193 | 6985 |
| Mizuho Financial Group, Inc. 5.376% 5/26/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.12% <br> on 5/26/2029) <sup>(i)</sup>  | 15000 | 15434 |
| Mizuho Financial Group, Inc. 5.669% 9/13/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.40% <br> on 9/13/2032) <sup>(i)</sup>  | 4388 | 4556 |
| Mizuho Financial Group, Inc. 5.594% 7/10/2035 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.30% <br> on 7/10/2034) <sup>(i)</sup>  | 15000 | 15444 |
| Moody's Corp. 4.25% 8/8/2032  | 265 | 259 |
| Morgan Stanley 4.679% 7/17/2026 (USD-SOFR + 1.669% on 7/17/2025) <sup>(i)</sup>  | 9785 | 9784 |
| Morgan Stanley 5.05% 1/28/2027 (USD-SOFR + 1.295% on 1/28/2026) <sup>(i)</sup>  | 2053 | 2059 |
| Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026) <sup>(i)</sup>  | 17575 | 17053 |
| Morgan Stanley 5.652% 4/13/2028 (USD-SOFR + 1.01% on 4/13/2027) <sup>(i)</sup>  | 553 | 565 |
| Morgan Stanley 6.296% 10/18/2028 (USD-SOFR + 2.44% on 10/18/2027) <sup>(i)</sup>  | 18366 | 19136 |
| Morgan Stanley 5.123% 2/1/2029 (USD-SOFR + 1.73% on 2/1/2028) <sup>(i)</sup>  | 20042 | 20396 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(i)</sup>  | 40240 | 41036 |
| Morgan Stanley 5.449% 7/20/2029 (USD-SOFR + 1.63% on 7/20/2028) <sup>(i)</sup>  | 12775 | 13141 |
| Morgan Stanley 6.407% 11/1/2029 (USD-SOFR + 1.83% on 11/1/2028) <sup>(i)</sup>  | 18228 | 19311 |
| Morgan Stanley 5.173% 1/16/2030 (USD-SOFR + 1.45% on 1/16/2029) <sup>(i)</sup>  | 11462 | 11704 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(i)</sup>  | 49364 | 51284 |
| Morgan Stanley 5.042% 7/19/2030 (USD-SOFR + 1.215% on 7/19/2029) <sup>(i)</sup>  | 15425 | 15690 |
| Morgan Stanley 4.654% 10/18/2030 (USD-SOFR + 1.10% on 10/18/2029) <sup>(i)</sup>  | 43478 | 43569 |
| Morgan Stanley 5.23% 1/15/2031 (USD-SOFR + 1.108% on 1/15/2030) <sup>(i)</sup>  | 6451 | 6606 |
| Morgan Stanley 2.699% 1/22/2031 (USD-SOFR + 1.143% on 1/22/2030) <sup>(i)</sup>  | 22962 | 21179 |
| Morgan Stanley 5.192% 4/17/2031 (USD-SOFR + 1.51% on 4/17/2030) <sup>(i)</sup>  | 43571 | 44677 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(i)</sup>  | 16080 | 13761 |
| Morgan Stanley 1.928% 4/28/2032 (USD-SOFR + 1.02% on 4/28/2031) <sup>(i)</sup>  | 12126 | 10371 |
| Morgan Stanley 2.239% 7/21/2032 (USD-SOFR + 1.178% on 7/21/2031) <sup>(i)</sup>  | 12638 | 10947 |
| Morgan Stanley 2.511% 10/20/2032 (USD-SOFR + 1.20% on 10/20/2031) <sup>(i)</sup>  | 5207 | 4561 |
| Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033) <sup>(i)</sup>  | 364 | 373 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(i)</sup>  | 9090 | 9205 |
| Morgan Stanley 5.516% 11/19/2055 (USD-SOFR + 1.71% on 11/19/2054) <sup>(i)</sup>  | 14475 | 14156 |
| Morgan Stanley Bank, N.A. 5.016% 1/12/2029 (USD-SOFR + 0.906% on 1/12/2028) <sup>(i)</sup>  | 25381 | 25781 |
| MSCI, Inc. 3.25% 8/15/2033 <sup>(h)</sup>  | 5586 | 4899 |
| Nasdaq, Inc. 5.35% 6/28/2028  | 3390 | 3491 |
| Nasdaq, Inc. 5.55% 2/15/2034  | 1270 | 1324 |
| National Australia Bank, Ltd. 1.887% 1/12/2027 <sup>(h)</sup>  | 3750 | 3633 |
| National Australia Bank, Ltd. 5.087% 6/11/2027  | 15000 | 15289 |
| National Australia Bank, Ltd. 4.90% 6/13/2028  | 12000 | 12299 |
| National Australia Bank, Ltd. 6.429% 1/12/2033 <sup>(h)</sup>  | 650 | 695 |
| National Securities Clearing Corp. 5.10% 11/21/2027 <sup>(h)</sup>  | 6000 | 6146 |
| NatWest Group PLC 7.472% 11/10/2026 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.85% on <br> 11/10/2025) <sup>(i)</sup>  | 5000 | 5050 |
| NatWest Group PLC 5.583% 3/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br> 3/1/2027) <sup>(i)</sup>  | 20000 | 20365 |
| NatWest Group PLC 5.808% 9/13/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.95% on <br> 9/13/2028) <sup>(i)</sup>  | 25000 | 25969 |
| New York Life Global Funding 2.35% 7/14/2026 <sup>(h)</sup>  | 2970 | 2911 |
| New York Life Global Funding 4.90% 6/13/2028 <sup>(h)</sup>  | 20000 | 20422 |
| New York Life Global Funding 4.55% 1/28/2033 <sup>(h)</sup>  | 5893 | 5770 |
| Nomura Holdings, Inc. (USD-SOFR + 1.25%) 4.29% 7/2/2027 <sup>(e)</sup>  | 15000 | 15107 |
| Nomura Holdings, Inc. 5.594% 7/2/2027  | 10000 | 10223 |
| Nomura Holdings, Inc. 5.783% 7/3/2034  | 8675 | 8979 |
| Northwestern Mutual Life Insurance Co. (The) 4.90% 6/12/2028 <sup>(h)</sup>  | 20000 | 20406 |
| Piraeus Bank SA 7.25% 7/13/2028 (1-year EUR Mid-Swap + 3.692% on 7/13/2027) <sup>(i)</sup>  | EUR1,540 | 1975 |
| Piraeus Bank SA 4.625% 7/17/2029 (1-year EUR Mid-Swap + 1.723% on 7/17/2028) <sup>(i)</sup>  | 1610 | 1977 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(i)</sup>  | 11240 | 14706 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(i)</sup>  | 31245 | 39030 |

---

---

| | |
|:---|:---|
| **37** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| PNC Financial Services Group, Inc. 5.354% 12/2/2028 (USD-SOFR + 1.62% on 12/2/2027) <sup>(i)</sup>  | USD15,000 | $15370 |
| PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028) <sup>(i)</sup>  | 30686 | 31785 |
| PNC Financial Services Group, Inc. 5.222% 1/29/2031 (USD-SOFR + 1.072% on 1/29/2030) <sup>(i)</sup>  | 5250 | 5389 |
| PNC Financial Services Group, Inc. 4.812% 10/21/2032 (USD-SOFR + 1.289% on 10/21/2031) <sup>(i)</sup>  | 12000 | 12031 |
| PNC Financial Services Group, Inc. 6.037% 10/28/2033 (USD-SOFR + 2.14% on 10/28/2032) <sup>(i)</sup>  | 5265 | 5601 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(i)</sup>  | 7750 | 8667 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(i)</sup>  | 2250 | 2339 |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(i)</sup>  | 17250 | 17786 |
| Power Finance Corp., Ltd. 5.25% 8/10/2028  | 1957 | 1981 |
| Power Finance Corp., Ltd. 6.15% 12/6/2028  | 1760 | 1833 |
| Power Finance Corp., Ltd. 4.50% 6/18/2029  | 3334 | 3286 |
| Power Finance Corp., Ltd. 3.95% 4/23/2030  | 6907 | 6625 |
| Prudential Financial, Inc. 4.35% 2/25/2050  | 7760 | 6448 |
| Prudential Financial, Inc. 3.70% 3/13/2051  | 945 | 695 |
| RGA Global Funding 5.25% 1/9/2030 <sup>(h)</sup>  | 20000 | 20532 |
| Royal Bank of Canada 4.90% 1/12/2028  | 5000 | 5095 |
| Royal Bank of Canada 4.65% 10/18/2030 (USD-SOFR + 1.08% on 10/18/2029) <sup>(i)</sup>  | 7104 | 7118 |
| Royal Bank of Canada 5.153% 2/4/2031 (USD-SOFR + 1.03% on 2/4/2030) <sup>(i)</sup>  | 38000 | 38796 |
| Santander Holdings USA, Inc. 6.124% 5/31/2027 (USD-SOFR + 1.232% on 5/31/2026) <sup>(i)</sup>  | 11700 | 11834 |
| Santander Holdings USA, Inc. 2.49% 1/6/2028 (USD-SOFR + 1.249% on 1/6/2027) <sup>(i)</sup>  | 19181 | 18573 |
| Santander Holdings USA, Inc. 6.499% 3/9/2029 (USD-SOFR + 2.356% on 3/9/2028) <sup>(i)</sup>  | 24006 | 25036 |
| Santander Holdings USA, Inc. 5.473% 3/20/2029 (USD-SOFR + 1.61% on 3/20/2028) <sup>(i)</sup>  | 11320 | 11512 |
| Santander Holdings USA, Inc. 6.565% 6/12/2029 (USD-SOFR + 2.70% on 6/12/2028) <sup>(i)</sup>  | 3523 | 3694 |
| Santander Holdings USA, Inc. 6.174% 1/9/2030 (USD-SOFR + 2.50% on 1/9/2029) <sup>(i)</sup>  | 16650 | 17334 |
| Santander Holdings USA, Inc. 5.353% 9/6/2030 (USD-SOFR + 1.94% on 9/6/2029) <sup>(i)</sup>  | 29132 | 29662 |
| SMBC Aviation Capital Finance DAC 5.45% 5/3/2028 <sup>(h)</sup>  | 15000 | 15344 |
| State Street Corp. 5.82% 11/4/2028 (USD-SOFR + 1.715% on 11/4/2027) <sup>(i)</sup>  | 990 | 1026 |
| State Street Corp. 4.164% 8/4/2033 (USD-SOFR + 1.726% on 8/4/2032) <sup>(i)</sup>  | 2225 | 2140 |
| State Street Corp. 4.821% 1/26/2034 (USD-SOFR + 1.567% on 1/26/2033) <sup>(i)</sup>  | 2856 | 2847 |
| State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033) <sup>(i)</sup>  | 28825 | 29455 |
| Sumitomo Mitsui Financial Group, Inc. 1.402% 9/17/2026  | 10000 | 9658 |
| Sumitomo Mitsui Financial Group, Inc. 2.174% 1/14/2027  | 426 | 413 |
| Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028  | 19192 | 20004 |
| Sumitomo Mitsui Financial Group, Inc. 5.316% 7/9/2029  | 30000 | 30915 |
| Sumitomo Mitsui Financial Group, Inc. 5.852% 7/13/2030  | 4532 | 4793 |
| Sumitomo Mitsui Trust Bank, Ltd. 5.55% 9/14/2028 <sup>(h)</sup>  | 35000 | 36325 |
| Svenska Handelsbanken AB 5.50% 6/15/2028 <sup>(h)</sup>  | 10000 | 10337 |
| Swedbank AB 6.136% 9/12/2026 <sup>(h)</sup>  | 51564 | 52684 |
| Synchrony Bank 5.40% 8/22/2025  | 21000 | 20996 |
| Synchrony Bank 5.625% 8/23/2027  | 21000 | 21422 |
| Synchrony Financial 5.935% 8/2/2030 (USD-SOFR Index + 2.13% on 8/2/2029) <sup>(b)(i)</sup>  | 35022 | 36009 |
| Synchrony Financial 2.875% 10/28/2031 <sup>(b)</sup>  | 21000 | 18230 |
| The Bank of Nova Scotia 4.932% 2/14/2029 (USD-SOFR + 0.89% on 8/14/2025) <sup>(i)</sup>  | 25000 | 25328 |
| Toronto-Dominion Bank (The) 1.25% 9/10/2026  | 5755 | 5555 |
| Toronto-Dominion Bank (The) 1.95% 1/12/2027  | 2899 | 2804 |
| Toronto-Dominion Bank (The) 5.156% 1/10/2028  | 4872 | 4974 |
| Toronto-Dominion Bank (The) 4.861% 1/31/2028  | 25000 | 25361 |
| Toronto-Dominion Bank (The) 5.523% 7/17/2028  | 15000 | 15520 |
| Toronto-Dominion Bank (The) 4.783% 12/17/2029  | 8147 | 8245 |
| Toronto-Dominion Bank (The) 2.45% 1/12/2032  | 2032 | 1776 |
| Travelers Cos., Inc. 4.00% 5/30/2047  | 2253 | 1806 |
| Truist Financial Corp. 4.873% 1/26/2029 (USD-SOFR + 1.435% on 1/26/2028) <sup>(i)</sup>  | 4444 | 4497 |
| Truist Financial Corp. 7.161% 10/30/2029 (USD-SOFR + 2.446% on 10/30/2028) <sup>(i)</sup>  | 6607 | 7148 |
| Truist Financial Corp. 5.435% 1/24/2030 (USD-SOFR + 1.62% on 1/24/2029) <sup>(i)</sup>  | 4343 | 4474 |
| Truist Financial Corp. 5.071% 5/20/2031 (USD-SOFR + 1.309% on 5/20/2030) <sup>(i)</sup>  | 17154 | 17420 |
| Truist Financial Corp. 5.122% 1/26/2034 (USD-SOFR + 1.60% on 1/26/2033) <sup>(i)</sup>  | 4819 | 4824 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(i)</sup>  | 6586 | 6883 |
| U.S. Bancorp 4.548% 7/22/2028 (USD-SOFR + 1.66% on 7/27/2027) <sup>(i)</sup>  | 4444 | 4455 |
| U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028) <sup>(i)</sup>  | 31449 | 31660 |
| U.S. Bancorp 5.384% 1/23/2030 (USD-SOFR + 1.56% on 1/23/2029) <sup>(i)</sup>  | 24233 | 24955 |
| U.S. Bancorp 5.046% 2/12/2031 (USD-SOFR + 1.061% on 2/12/2030) <sup>(i)</sup>  | 15000 | 15274 |
| U.S. Bancorp 5.083% 5/15/2031 (USD-SOFR + 1.296% on 5/15/2030) <sup>(i)</sup>  | 29000 | 29589 |
| U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033) <sup>(i)</sup>  | 5309 | 5244 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(i)</sup>  | 1529 | 1607 |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(i)</sup>  | 17500 | 17839 |
| UBS AG 7.50% 2/15/2028  | 20000 | 21580 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **38** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| UBS Group AG 4.125% 9/24/2025 <sup>(h)</sup>  | USD4,030 | $4023 |
| UBS Group AG 5.711% 1/12/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.55% on <br>1/12/2026) <sup>(h)(i)</sup>  | 5000 | 5031 |
| UBS Group AG 1.364% 1/30/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.08% on <br>1/30/2026) <sup>(h)(i)</sup>  | 26350 | 25874 |
| UBS Group AG 1.305% 2/2/2027 (USD-SOFR + 0.98% on 2/2/2026) <sup>(h)(i)</sup>  | 53787 | 52778 |
| UBS Group AG 1.494% 8/10/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 0.85% on <br>8/10/2026) <sup>(h)(i)</sup>  | 35660 | 34497 |
| UBS Group AG 4.751% 5/12/2028 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br>5/12/2027) <sup>(h)(i)</sup>  | 23979 | 24127 |
| UBS Group AG 6.442% 8/11/2028 (USD-SOFR + 3.70% on 8/11/2027) <sup>(h)(i)</sup>  | 15952 | 16578 |
| UBS Group AG 3.869% 1/12/2029 (3-month USD-LIBOR + 1.41% on 1/12/2028) <sup>(h)(i)(j)</sup>  | 15150 | 14920 |
| UBS Group AG 6.246% 9/22/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on <br>9/22/2028) <sup>(h)(i)</sup>  | 6800 | 7145 |
| UBS Group AG 5.428% 2/8/2030 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.52% on <br>2/8/2029) <sup>(h)(i)</sup>  | 27266 | 28009 |
| UBS Group AG 3.126% 8/13/2030 (3-month USD-LIBOR + 1.468% on 8/13/2029) <sup>(h)(i)(j)</sup>  | 4400 | 4153 |
| UBS Group AG 5.617% 9/13/2030 (1-year USD-ICE SOFR Swap + 1.34% on 9/13/2029) <sup>(h)(i)</sup>  | 8521 | 8850 |
| UBS Group AG 4.194% 4/1/2031 (USD-SOFR + 3.73% on 4/1/2030) <sup>(h)(i)</sup>  | 76868 | 75289 |
| UBS Group AG 2.095% 2/11/2032 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on <br>2/11/2031) <sup>(h)(i)</sup>  | 32181 | 27845 |
| UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031) <sup>(h)(i)</sup>  | 137091 | 124482 |
| UBS Group AG 2.746% 2/11/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.10% on <br>2/11/2032) <sup>(h)(i)</sup>  | 5035 | 4395 |
| UBS Group AG 9.016% 11/15/2033 (USD-SOFR + 5.02% on 11/15/2032) <sup>(h)(i)</sup>  | 12700 | 15707 |
| UniCredit SpA 4.625% 4/12/2027 <sup>(h)</sup>  | 5540 | 5540 |
| Unum Group 3.875% 11/5/2025  | 5045 | 5027 |
| Vigorous Champion International, Ltd. 4.25% 5/28/2029  | 3162 | 3115 |
| Visa, Inc. 3.15% 12/14/2025  | 6000 | 5968 |
| Visa, Inc. 2.05% 4/15/2030  | 5247 | 4778 |
| Wells Fargo & Co. 3.526% 3/24/2028 (USD-SOFR + 1.51% on 3/24/2027) <sup>(i)</sup>  | 57696 | 56903 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(i)</sup>  | 28680 | 29313 |
| Wells Fargo & Co. 2.393% 6/2/2028 (USD-SOFR + 2.10% on 6/2/2027) <sup>(i)</sup>  | 4473 | 4311 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(i)</sup>  | 19177 | 19342 |
| Wells Fargo & Co. 4.97% 4/23/2029 (USD-SOFR + 1.37% on 4/23/2028) <sup>(i)</sup>  | 20284 | 20571 |
| Wells Fargo & Co. 5.574% 7/25/2029 (USD-SOFR + 1.74% on 7/25/2028) <sup>(i)</sup>  | 48636 | 50227 |
| Wells Fargo & Co. 6.303% 10/23/2029 (USD-SOFR + 1.79% on 10/23/2028) <sup>(i)</sup>  | 80657 | 85259 |
| Wells Fargo & Co. 5.198% 1/23/2030 (USD-SOFR + 1.50% on 1/23/2029) <sup>(i)</sup>  | 11703 | 11990 |
| Wells Fargo & Co. 5.244% 1/24/2031 (USD-SOFR + 1.11% on 1/24/2030) <sup>(i)</sup>  | 15100 | 15494 |
| Wells Fargo & Co. 5.15% 4/23/2031 (USD-SOFR + 1.50% on 4/23/2030) <sup>(i)</sup>  | 36971 | 37875 |
| Wells Fargo & Co. 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033) <sup>(i)</sup>  | 23561 | 24117 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(i)</sup>  | 14000 | 15308 |
| Westpac Banking Corp. 4.11% 7/24/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on <br> 7/24/2029) <sup>(i)</sup>  | 3750 | 3626 |
| Westpac Banking Corp. 2.668% 11/15/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 11/15/2030) <sup>(i)</sup>  | 28300 | 24974 |
| Westpac Banking Corp. 2.963% 11/16/2040  | 9686 | 7177 |
|  |  | 8307781 |
| **Consumer discretionary 0.89%** | **Consumer discretionary 0.89%** | **Consumer discretionary 0.89%** |
| Alibaba Group Holding, Ltd. 2.125% 2/9/2031  | 6132 | 5431 |
| Alibaba Group Holding, Ltd. 4.50% 11/28/2034  | 9049 | 8730 |
| Alibaba Group Holding, Ltd. 4.00% 12/6/2037  | 8521 | 7519 |
| Alibaba Group Holding, Ltd. 2.70% 2/9/2041  | 14036 | 9797 |
| Alibaba Group Holding, Ltd. 3.15% 2/9/2051  | 11021 | 7152 |
| Amazon.com, Inc. 1.20% 6/3/2027  | 4437 | 4215 |
| Daimler Trucks Finance North America, LLC 5.15% 1/16/2026 <sup>(h)</sup>  | 2714 | 2722 |
| Daimler Trucks Finance North America, LLC 2.00% 12/14/2026 <sup>(h)</sup>  | 4791 | 4632 |
| Daimler Trucks Finance North America, LLC 5.00% 1/15/2027 <sup>(h)</sup>  | 4378 | 4422 |
| Daimler Trucks Finance North America, LLC 4.95% 1/13/2028 <sup>(h)</sup>  | 30387 | 30787 |
| Daimler Trucks Finance North America, LLC 5.125% 1/19/2028 <sup>(h)</sup>  | 2169 | 2203 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(h)</sup>  | 3792 | 3540 |
| Daimler Trucks Finance North America, LLC 5.125% 9/25/2029 <sup>(h)</sup>  | 14859 | 15149 |
| Daimler Trucks Finance North America, LLC 5.25% 1/13/2030 <sup>(h)</sup>  | 37644 | 38537 |
| Daimler Trucks Finance North America, LLC 5.375% 6/25/2034 <sup>(h)</sup>  | 4338 | 4349 |

---

---

| | |
|:---|:---|
| **39** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| Ford Motor Credit Co., LLC 3.375% 11/13/2025  | USD4,060 | $4033 |
| Ford Motor Credit Co., LLC 6.95% 3/6/2026  | 20914 | 21119 |
| Ford Motor Credit Co., LLC 6.95% 6/10/2026  | 14590 | 14792 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 2520 | 2454 |
| Ford Motor Credit Co., LLC 5.125% 11/5/2026  | 15000 | 14969 |
| Ford Motor Credit Co., LLC 4.271% 1/9/2027  | 3095 | 3052 |
| Ford Motor Credit Co., LLC 5.80% 3/5/2027  | 12000 | 12099 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 10000 | 10080 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 9800 | 9739 |
| Ford Motor Credit Co., LLC 4.125% 8/17/2027  | 5805 | 5676 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 2684 | 2592 |
| Ford Motor Credit Co., LLC 7.35% 11/4/2027  | 10966 | 11392 |
| Ford Motor Credit Co., LLC 2.90% 2/16/2028  | 1895 | 1778 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 11120 | 11235 |
| Ford Motor Credit Co., LLC 6.80% 5/12/2028  | 14970 | 15476 |
| Ford Motor Credit Co., LLC 6.798% 11/7/2028  | 10655 | 11042 |
| Ford Motor Credit Co., LLC 2.90% 2/10/2029  | 2050 | 1865 |
| Ford Motor Credit Co., LLC 5.80% 3/8/2029  | 13864 | 13898 |
| Ford Motor Credit Co., LLC 5.113% 5/3/2029  | 40891 | 39999 |
| Ford Motor Credit Co., LLC 5.875% 11/7/2029  | 46305 | 46458 |
| Ford Motor Credit Co., LLC 7.35% 3/6/2030  | 17485 | 18465 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 56189 | 59156 |
| Ford Motor Credit Co., LLC 4.00% 11/13/2030  | 65993 | 60271 |
| Ford Motor Credit Co., LLC 6.05% 3/5/2031  | 40000 | 39933 |
| Ford Motor Credit Co., LLC 3.625% 6/17/2031  | 58641 | 51642 |
| Ford Motor Credit Co., LLC 6.054% 11/5/2031  | 10677 | 10627 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 86728 | 90051 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 29314 | 28550 |
| Ford Motor Credit Co., LLC 6.50% 2/7/2035  | 62454 | 62403 |
| General Motors Co. 5.35% 4/15/2028  | 21962 | 22300 |
| General Motors Co. 5.625% 4/15/2030  | 39000 | 39875 |
| General Motors Financial Co., Inc. 1.25% 1/8/2026  | 387 | 380 |
| General Motors Financial Co., Inc. 4.90% 10/6/2029  | 60982 | 60902 |
| General Motors Financial Co., Inc. 5.35% 1/7/2030  | 74180 | 75113 |
| General Motors Financial Co., Inc. 5.45% 7/15/2030  | 69775 | 70783 |
| General Motors Financial Co., Inc. 2.70% 6/10/2031  | 36867 | 32309 |
| General Motors Financial Co., Inc. 5.625% 4/4/2032  | 9621 | 9738 |
| General Motors Financial Co., Inc. 6.40% 1/9/2033  | 5833 | 6140 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 8322 | 8162 |
| General Motors Financial Co., Inc. 5.90% 1/7/2035  | 44748 | 45012 |
| Home Depot, Inc. 1.50% 9/15/2028  | 4734 | 4377 |
| Home Depot, Inc. 2.95% 6/15/2029  | 2390 | 2288 |
| Home Depot, Inc. 1.875% 9/15/2031  | 7101 | 6115 |
| Home Depot, Inc. 5.30% 6/25/2054  | 12000 | 11530 |
| Hyatt Hotels Corp. 5.05% 3/30/2028  | 17280 | 17472 |
| Hyatt Hotels Corp. 5.75% 3/30/2032  | 50705 | 52075 |
| Hyundai Capital America 1.80% 10/15/2025 <sup>(h)</sup>  | 3275 | 3248 |
| Hyundai Capital America 1.30% 1/8/2026 <sup>(h)</sup>  | 23790 | 23380 |
| Hyundai Capital America 1.50% 6/15/2026 <sup>(h)</sup>  | 28381 | 27561 |
| Hyundai Capital America 5.45% 6/24/2026 <sup>(h)</sup>  | 17742 | 17889 |
| Hyundai Capital America 1.65% 9/17/2026 <sup>(h)</sup>  | 37992 | 36681 |
| Hyundai Capital America 3.00% 2/10/2027 <sup>(h)</sup>  | 33995 | 33178 |
| Hyundai Capital America 5.30% 3/19/2027 <sup>(h)</sup>  | 9990 | 10103 |
| Hyundai Capital America 4.85% 3/25/2027 <sup>(h)</sup>  | 39000 | 39184 |
| Hyundai Capital America 4.875% 6/23/2027 <sup>(h)</sup>  | 24017 | 24166 |
| Hyundai Capital America 5.275% 6/24/2027 <sup>(h)</sup>  | 42500 | 43056 |
| Hyundai Capital America 2.375% 10/15/2027 <sup>(h)</sup>  | 21667 | 20612 |
| Hyundai Capital America 5.00% 1/7/2028 <sup>(h)</sup>  | 25000 | 25199 |
| Hyundai Capital America 4.90% 6/23/2028 <sup>(h)</sup>  | 47802 | 48156 |
| Hyundai Capital America 2.10% 9/15/2028 <sup>(h)</sup>  | 20485 | 18909 |
| Hyundai Capital America 5.30% 6/24/2029 <sup>(h)</sup>  | 22385 | 22803 |
| Hyundai Capital America 4.55% 9/26/2029 <sup>(h)</sup>  | 35837 | 35526 |
| Hyundai Capital America 5.30% 1/8/2030 <sup>(h)</sup>  | 65000 | 66418 |
| Hyundai Capital America 5.15% 3/27/2030 <sup>(h)</sup>  | 20000 | 20248 |
| Hyundai Capital America 5.10% 6/24/2030 <sup>(h)</sup>  | 41647 | 42117 |
| Hyundai Capital America 5.40% 1/8/2031 <sup>(h)</sup>  | 4521 | 4621 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **40** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| Hyundai Capital America 5.40% 6/24/2031 <sup>(h)</sup>  | USD41,000 | $41965 |
| Hyundai Capital America 5.40% 6/23/2032 <sup>(h)</sup>  | 24489 | 24812 |
| Hyundai Capital Services, Inc. 1.25% 2/8/2026 <sup>(h)</sup>  | 9245 | 9063 |
| Hyundai Capital Services, Inc. 5.25% 1/22/2028 <sup>(h)</sup>  | 53000 | 53740 |
| Leland Stanford Junior University (The) 1.289% 6/1/2027  | 4000 | 3815 |
| Marriott International, Inc. 4.90% 4/15/2029  | 5784 | 5889 |
| Marriott International, Inc. 2.75% 10/15/2033  | 8028 | 6838 |
| McDonald's Corp. 4.60% 9/9/2032  | 716 | 718 |
| McDonald's Corp. 4.95% 3/3/2035  | 19736 | 19732 |
| Mercedes-Benz Finance North America, LLC 5.375% 11/26/2025 <sup>(h)</sup>  | 5887 | 5903 |
| Royal Caribbean Cruises, Ltd. 6.25% 3/15/2032 <sup>(h)</sup>  | 55000 | 56568 |
| Sands China, Ltd. 2.30% 3/8/2027  | 8630 | 8292 |
| SMRC Automotive Holdings Netherlands BV 5.625% 7/11/2029 <sup>(h)</sup>  | 16715 | 16991 |
| Stellantis Finance US, Inc. 5.35% 3/17/2028 <sup>(h)</sup>  | 2774 | 2798 |
| Stellantis Finance US, Inc. 2.691% 9/15/2031 <sup>(h)</sup>  | 402 | 340 |
| Toyota Motor Credit Corp. 0.80% 1/9/2026  | 11861 | 11647 |
| Toyota Motor Credit Corp. 1.90% 1/13/2027  | 7500 | 7248 |
| Volkswagen Group of America Finance, LLC 4.625% 11/13/2025 <sup>(h)</sup>  | 2830 | 2828 |
| Volkswagen Group of America Finance, LLC 1.25% 11/24/2025 <sup>(h)</sup>  | 6265 | 6180 |
| Volkswagen Group of America Finance, LLC 4.95% 8/15/2029 <sup>(h)</sup>  | 10262 | 10308 |
| Volkswagen Group of America Finance, LLC 5.35% 3/27/2030 <sup>(h)</sup>  | 14450 | 14705 |
| Volkswagen Group of America Finance, LLC 6.45% 11/16/2030 <sup>(h)</sup>  | 11240 | 11966 |
| Volkswagen Group of America Finance, LLC 5.65% 3/25/2032 <sup>(h)</sup>  | 30000 | 30509 |
| Volkswagen Group of America Finance, LLC 5.80% 3/27/2035 <sup>(h)</sup>  | 20000 | 20155 |
|  |  | 2224667 |
| **Utilities 0.88%** | **Utilities 0.88%** | **Utilities 0.88%** |
| AEP Transmission Co., LLC 5.15% 4/1/2034  | 15000 | 15201 |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 1900 | 1942 |
| American Electric Power Co., Inc. 1.00% 11/1/2025  | 2200 | 2173 |
| China Huaneng Group Co., Ltd. 5.85% perpetual contingent convertible bonds (3-year UST Yield Curve Rate T <br> Note Constant Maturity + 3.775% on 7/5/2027) <sup>(i)</sup>  | 12028 | 12170 |
| Cleveland Electric Illuminating Co. (The) 3.50% 4/1/2028 <sup>(h)</sup>  | 4363 | 4246 |
| Comision Federal de Electricidad 4.688% 5/15/2029 <sup>(h)</sup>  | 38215 | 37362 |
| Comision Federal de Electricidad 3.348% 2/9/2031  | 21000 | 18515 |
| Comision Federal de Electricidad 3.875% 7/26/2033  | 17569 | 14952 |
| Comision Federal de Electricidad 6.45% 1/24/2035 <sup>(h)</sup>  | 18000 | 17789 |
| Connecticut Light and Power Co. (The) 4.95% 8/15/2034  | 8075 | 8078 |
| Consumers Energy Co. 5.05% 5/15/2035  | 10875 | 10956 |
| Consumers Energy Co. 3.10% 8/15/2050  | 5325 | 3594 |
| DTE Electric Co. 4.85% 12/1/2026  | 1350 | 1366 |
| DTE Energy Co. 5.10% 3/1/2029  | 8650 | 8824 |
| Duke Energy Corp. 0.90% 9/15/2025  | 4575 | 4538 |
| Duke Energy Corp. 5.75% 9/15/2033  | 4645 | 4882 |
| Duke Energy Corp. 3.50% 6/15/2051  | 399 | 274 |
| Duke Energy Progress, LLC 3.70% 10/15/2046  | 2250 | 1701 |
| Duke Energy Progress, LLC 2.50% 8/15/2050  | 1026 | 595 |
| Duke Energy Progress, LLC 2.90% 8/15/2051  | 449 | 279 |
| Edison International 4.125% 3/15/2028  | 31272 | 30197 |
| Edison International 5.25% 11/15/2028  | 29989 | 29695 |
| Edison International 5.45% 6/15/2029  | 41737 | 41299 |
| Edison International 6.95% 11/15/2029  | 11748 | 12218 |
| Edison International 6.25% 3/15/2030  | 15300 | 15545 |
| Edison International 5.25% 3/15/2032  | 41040 | 38958 |
| Electricite de France SA 5.65% 4/22/2029 <sup>(h)</sup>  | 12500 | 12973 |
| Electricite de France SA 6.25% 5/23/2033 <sup>(h)</sup>  | 5838 | 6259 |
| Electricite de France SA 4.875% 9/21/2038 <sup>(h)</sup>  | 1325 | 1226 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(h)(i)</sup>  | 10080 | 11395 |
| Emera US Finance, LP 3.55% 6/15/2026  | 4430 | 4383 |
| Enel Finance International NV 5.125% 6/26/2029 <sup>(h)</sup>  | 17500 | 17832 |
| Entergy Corp. 3.75% 6/15/2050  | 234 | 168 |
| Eversource Energy 3.30% 1/15/2028  | 6812 | 6637 |
| FirstEnergy Corp. 2.65% 3/1/2030  | 382 | 351 |
| FirstEnergy Corp., Series B, 3.90% 7/15/2027  | 24275 | 24010 |

---

---

| | |
|:---|:---|
| **41** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** | **Utilities (continued)** | **Utilities (continued)** |
| FirstEnergy Transmission, LLC 2.866% 9/15/2028 <sup>(h)</sup>  | USD18,988 | $18117 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 4202 | 4297 |
| Georgia Power Co. 4.65% 5/16/2028  | 20879 | 21173 |
| Georgia Power Co. 4.95% 5/17/2033  | 11075 | 11166 |
| Jersey Central Power & Light Co. 2.75% 3/1/2032 <sup>(h)</sup>  | 3000 | 2632 |
| Jersey Central Power & Light Co. 5.10% 1/15/2035  | 1425 | 1421 |
| MidAmerican Energy Co. 5.35% 1/15/2034  | 1150 | 1192 |
| MidAmerican Energy Co. 5.85% 9/15/2054  | 3325 | 3426 |
| Monongahela Power Co. 3.55% 5/15/2027 <sup>(h)</sup>  | 6225 | 6136 |
| NextEra Energy Capital Holdings, Inc. 1.875% 1/15/2027  | 516 | 498 |
| Northern States Power Co. 5.05% 5/15/2035  | 23700 | 23947 |
| Northern States Power Co. 5.65% 5/15/2055  | 2225 | 2223 |
| NSTAR Electric Co. 2.70% 6/1/2026  | 4085 | 4017 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 154125 | 152671 |
| Pacific Gas and Electric Co. 2.95% 3/1/2026  | 41014 | 40481 |
| Pacific Gas and Electric Co. 5.45% 6/15/2027  | 334 | 338 |
| Pacific Gas and Electric Co. 2.10% 8/1/2027  | 4717 | 4469 |
| Pacific Gas and Electric Co. 3.30% 12/1/2027  | 44988 | 43541 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 24989 | 23739 |
| Pacific Gas and Electric Co. 3.75% 7/1/2028  | 29622 | 28752 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 10474 | 10418 |
| Pacific Gas and Electric Co. 6.10% 1/15/2029  | 2187 | 2267 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 127029 | 124047 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 99747 | 86638 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031  | 15509 | 13927 |
| Pacific Gas and Electric Co. 4.40% 3/1/2032  | 15280 | 14343 |
| Pacific Gas and Electric Co. 5.90% 6/15/2032  | 9111 | 9306 |
| Pacific Gas and Electric Co. 6.15% 1/15/2033  | 9264 | 9547 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 53855 | 56326 |
| Pacific Gas and Electric Co. 6.95% 3/15/2034  | 38454 | 41418 |
| Pacific Gas and Electric Co. 5.80% 5/15/2034  | 27959 | 27970 |
| Pacific Gas and Electric Co. 5.70% 3/1/2035  | 88998 | 88248 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035  | 6153 | 6225 |
| Pacific Gas and Electric Co. 3.30% 8/1/2040  | 10283 | 7364 |
| Pacific Gas and Electric Co. 3.75% 8/15/2042  | 30000 | 21414 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 54776 | 44204 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 6998 | 4493 |
| Pacific Gas and Electric Co. 6.70% 4/1/2053  | 551 | 553 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 6275 | 5697 |
| Pacific Gas and Electric Co. 6.15% 3/1/2055  | 598 | 559 |
| PacifiCorp 5.10% 2/15/2029  | 17900 | 18258 |
| PacifiCorp 2.70% 9/15/2030  | 1675 | 1532 |
| PacifiCorp 5.30% 2/15/2031  | 6419 | 6615 |
| PacifiCorp 5.45% 2/15/2034  | 48850 | 49569 |
| PacifiCorp 4.125% 1/15/2049  | 8905 | 6829 |
| PacifiCorp 3.30% 3/15/2051  | 9984 | 6499 |
| PacifiCorp 2.90% 6/15/2052  | 8028 | 4759 |
| PacifiCorp 5.35% 12/1/2053  | 13230 | 11906 |
| PacifiCorp 5.50% 5/15/2054  | 24862 | 22894 |
| PacifiCorp 5.80% 1/15/2055  | 47205 | 45225 |
| Public Service Company of Colorado 5.35% 5/15/2034  | 10000 | 10148 |
| Public Service Company of Colorado 5.85% 5/15/2055  | 873 | 865 |
| Public Service Electric and Gas Co. 5.05% 3/1/2035  | 16350 | 16537 |
| Public Service Electric and Gas Co. 3.60% 12/1/2047  | 6175 | 4582 |
| Public Service Electric and Gas Co. 2.05% 8/1/2050  | 5049 | 2688 |
| Public Service Enterprise Group, Inc. 5.85% 11/15/2027  | 3000 | 3106 |
| Public Service Enterprise Group, Inc. 4.90% 3/15/2030  | 19425 | 19766 |
| Public Service Enterprise Group, Inc. 1.60% 8/15/2030  | 575 | 497 |
| San Diego Gas & Electric Co. 4.95% 8/15/2028  | 9175 | 9372 |
| Southern California Edison Co. 3.65% 3/1/2028  | 1464 | 1424 |
| Southern California Edison Co. 5.30% 3/1/2028  | 7981 | 8085 |
| Southern California Edison Co. 5.65% 10/1/2028  | 25184 | 25805 |
| Southern California Edison Co. 4.20% 3/1/2029  | 31036 | 30397 |
| Southern California Edison Co. 5.15% 6/1/2029  | 32556 | 32900 |
| Southern California Edison Co. 2.85% 8/1/2029  | 14330 | 13268 |
| Southern California Edison Co. 5.25% 3/15/2030  | 53395 | 53968 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **42** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** | **Utilities (continued)** | **Utilities (continued)** |
| Southern California Edison Co. 2.25% 6/1/2030  | USD6,160 | $5411 |
| Southern California Edison Co. 5.45% 6/1/2031  | 29250 | 29783 |
| Southern California Edison Co. 2.75% 2/1/2032  | 21619 | 18648 |
| Southern California Edison Co. 5.95% 11/1/2032  | 6718 | 6901 |
| Southern California Edison Co. 6.00% 1/15/2034  | 11330 | 11626 |
| Southern California Edison Co. 5.20% 6/1/2034  | 30947 | 30035 |
| Southern California Edison Co. 5.45% 3/1/2035  | 58661 | 57620 |
| Southern California Edison Co. 5.75% 4/1/2035  | 13225 | 13500 |
| Southern California Edison Co. 5.35% 7/15/2035  | 40464 | 39450 |
| Southern California Edison Co. 5.625% 2/1/2036  | 26199 | 25511 |
| Southern California Edison Co. 4.50% 9/1/2040  | 30007 | 25207 |
| Southern California Edison Co. 3.60% 2/1/2045  | 7297 | 5028 |
| Southern California Edison Co. 3.65% 2/1/2050  | 1072 | 709 |
| Southern California Edison Co. 2.95% 2/1/2051  | 1883 | 1104 |
| Southern California Edison Co. 3.45% 2/1/2052  | 721 | 454 |
| Southern California Edison Co. 6.20% 9/15/2055  | 23225 | 22261 |
| Southern Co. (The) 4.85% 3/15/2035  | 1137 | 1112 |
| Southwestern Electric Power Co. 1.65% 3/15/2026  | 13055 | 12802 |
| Southwestern Electric Power Co. 3.25% 11/1/2051  | 19 | 12 |
| Tampa Electric Co. 5.15% 3/1/2035  | 30000 | 30156 |
| Union Electric Co. 5.25% 4/15/2035  | 14220 | 14529 |
| Virginia Electric & Power 2.40% 3/30/2032  | 5700 | 4945 |
| Virginia Electric & Power 2.45% 12/15/2050  | 4256 | 2391 |
| WEC Energy Group, Inc. 2.20% 12/15/2028  | 7200 | 6699 |
| Xcel Energy, Inc. 3.35% 12/1/2026  | 2560 | 2525 |
| Xcel Energy, Inc. 4.75% 3/21/2028  | 6924 | 6993 |
| Xcel Energy, Inc. 2.35% 11/15/2031  | 19400 | 16801 |
| Xcel Energy, Inc. 5.50% 3/15/2034  | 4575 | 4650 |
| Xcel Energy, Inc. 5.60% 4/15/2035  | 19077 | 19485 |
|  |  | 2215625 |
| **Energy 0.75%** | **Energy 0.75%** | **Energy 0.75%** |
| Baker Hughes Holdings, LLC 4.486% 5/1/2030  | 6120 | 6136 |
| Canadian Natural Resources, Ltd. 2.05% 7/15/2025  | 4810 | 4804 |
| Canadian Natural Resources, Ltd. 3.85% 6/1/2027  | 7410 | 7340 |
| Canadian Natural Resources, Ltd. 4.95% 6/1/2047  | 971 | 831 |
| Cenovus Energy, Inc. 5.375% 7/15/2025  | 18304 | 18304 |
| Cenovus Energy, Inc. 4.25% 4/15/2027  | 11793 | 11769 |
| Chevron USA, Inc. 4.687% 4/15/2030  | 59068 | 60267 |
| Columbia Pipelines Operating Co., LLC 5.927% 8/15/2030 <sup>(h)</sup>  | 27000 | 28518 |
| ConocoPhillips Co. 3.80% 3/15/2052  | 533 | 387 |
| ConocoPhillips Co. 5.30% 5/15/2053  | 270 | 249 |
| ConocoPhillips Co. 5.50% 1/15/2055  | 15792 | 14999 |
| Devon Energy Corp. 5.20% 9/15/2034  | 8831 | 8581 |
| Devon Energy Corp. 5.75% 9/15/2054  | 34169 | 30789 |
| Diamondback Energy, Inc. 5.55% 4/1/2035  | 29708 | 30044 |
| Diamondback Energy, Inc. 4.25% 3/15/2052  | 7466 | 5624 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 20750 | 19281 |
| Enbridge Energy Partners, LP 7.375% 10/15/2045  | 1799 | 2064 |
| Enbridge, Inc. 6.70% 11/15/2053  | 8956 | 9696 |
| Energy Transfer, LP 5.25% 7/1/2029  | 7791 | 7984 |
| Energy Transfer, LP 6.40% 12/1/2030  | 11468 | 12364 |
| Eni SpA 5.75% 5/19/2035 <sup>(h)</sup>  | 17748 | 18162 |
| Eni SpA 5.95% 5/15/2054 <sup>(h)</sup>  | 3440 | 3332 |
| Enterprise Products Operating, LLC 5.05% 1/10/2026  | 14075 | 14108 |
| EOG Resources, Inc. 5.65% 12/1/2054  | 12648 | 12360 |
| Equinor ASA 1.75% 1/22/2026  | 9289 | 9152 |
| Equinor ASA 3.625% 9/10/2028  | 13155 | 12980 |
| Equinor ASA 4.25% 11/23/2041  | 5400 | 4787 |
| GreenSaif Pipelines Bidco SARL 5.853% 2/23/2036 <sup>(h)</sup>  | 59370 | 60103 |
| GreenSaif Pipelines Bidco SARL 6.129% 2/23/2038  | 14970 | 15446 |
| GreenSaif Pipelines Bidco SARL 6.51% 2/23/2042  | 8660 | 8981 |
| GreenSaif Pipelines Bidco SARL 6.103% 8/23/2042 <sup>(h)</sup>  | 18750 | 18777 |
| Halliburton Co. 3.80% 11/15/2025  | 107 | 107 |
| Kinder Morgan, Inc. 5.20% 6/1/2033  | 9363 | 9412 |

---

---

| | |
|:---|:---|
| **43** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** | **Energy (continued)** | **Energy (continued)** |
| MPLX, LP 4.125% 3/1/2027  | USD4,175 | $4154 |
| Occidental Petroleum Corp. 5.20% 8/1/2029  | 47294 | 47481 |
| Occidental Petroleum Corp. 6.625% 9/1/2030  | 82000 | 86760 |
| Occidental Petroleum Corp. 6.125% 1/1/2031  | 18131 | 18782 |
| Occidental Petroleum Corp. 5.375% 1/1/2032  | 73000 | 72453 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 80448 | 78993 |
| Occidental Petroleum Corp. 6.45% 9/15/2036  | 10286 | 10531 |
| ONEOK, Inc. 5.85% 1/15/2026  | 1262 | 1269 |
| ONEOK, Inc. 5.55% 11/1/2026  | 4564 | 4628 |
| ONEOK, Inc. 5.65% 11/1/2028  | 25436 | 26359 |
| ONEOK, Inc. 5.80% 11/1/2030  | 2362 | 2474 |
| ONEOK, Inc. 6.05% 9/1/2033  | 17568 | 18441 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 23576 | 23566 |
| Petroleos Mexicanos 6.875% 8/4/2026  | 60733 | 60785 |
| Petroleos Mexicanos 6.49% 1/23/2027  | 17185 | 17109 |
| Petroleos Mexicanos 6.50% 3/13/2027  | 175113 | 174006 |
| Petroleos Mexicanos 6.50% 1/23/2029  | 2605 | 2551 |
| Petroleos Mexicanos 8.75% 6/2/2029  | 162856 | 168827 |
| Petroleos Mexicanos 6.84% 1/23/2030  | 65460 | 63281 |
| Petroleos Mexicanos 5.95% 1/28/2031  | 112438 | 101754 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 200027 | 186020 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 6622 | 4923 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 2653 | 1881 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 51697 | 37476 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 12045 | 8395 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 61490 | 48406 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 71504 | 51427 |
| Pioneer Natural Resources Co. 2.15% 1/15/2031  | 4173 | 3708 |
| Plains All American Pipeline, LP 3.80% 9/15/2030  | 3403 | 3254 |
| Qatar Energy 2.25% 7/12/2031 <sup>(h)</sup>  | 8229 | 7218 |
| Qatar Energy 3.125% 7/12/2041 <sup>(h)</sup>  | 12578 | 9301 |
| Qatar Energy 3.30% 7/12/2051 <sup>(h)</sup>  | 6796 | 4595 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(h)</sup>  | 17490 | 16437 |
| Saudi Arabian Oil Co. 6.375% 6/2/2055 <sup>(h)</sup>  | 21000 | 21014 |
| South Bow USA Infrastructure Holdings, LLC 4.911% 9/1/2027 <sup>(h)</sup>  | 7763 | 7815 |
| South Bow USA Infrastructure Holdings, LLC 5.026% 10/1/2029 <sup>(h)</sup>  | 7253 | 7279 |
| TotalEnergies Capital SA 5.275% 9/10/2054  | 14250 | 13354 |
| Transportadora de Gas del Peru SA 4.25% 4/30/2028  | 686 | 681 |
|  |  | 1885126 |
| **Health care 0.51%** | **Health care 0.51%** | **Health care 0.51%** |
| AbbVie, Inc. 2.95% 11/21/2026  | 1070 | 1053 |
| AbbVie, Inc. 4.95% 3/15/2031  | 30000 | 30808 |
| AbbVie, Inc. 5.20% 3/15/2035  | 10187 | 10412 |
| AbbVie, Inc. 5.40% 3/15/2054  | 29750 | 28948 |
| AbbVie, Inc. 5.60% 3/15/2055  | 9522 | 9534 |
| Amgen, Inc. 5.507% 3/2/2026  | 418 | 418 |
| Amgen, Inc. 5.15% 3/2/2028  | 3249 | 3321 |
| Amgen, Inc. 3.00% 2/22/2029  | 400 | 382 |
| Amgen, Inc. 4.05% 8/18/2029  | 8900 | 8799 |
| Amgen, Inc. 5.25% 3/2/2030  | 24985 | 25751 |
| Amgen, Inc. 4.20% 3/1/2033  | 10415 | 10001 |
| Amgen, Inc. 5.25% 3/2/2033  | 27070 | 27730 |
| Amgen, Inc. 5.60% 3/2/2043  | 7101 | 7049 |
| Amgen, Inc. 4.875% 3/1/2053  | 7808 | 6824 |
| Amgen, Inc. 5.65% 3/2/2053  | 53668 | 52437 |
| Amgen, Inc. 4.40% 2/22/2062  | 4544 | 3550 |
| Amgen, Inc. 5.75% 3/2/2063  | 2631 | 2560 |
| AstraZeneca Finance, LLC 1.20% 5/28/2026  | 3628 | 3532 |
| AstraZeneca Finance, LLC 4.875% 3/3/2028  | 34531 | 35269 |
| AstraZeneca Finance, LLC 1.75% 5/28/2028  | 5313 | 4985 |
| AstraZeneca Finance, LLC 4.90% 2/26/2031  | 7525 | 7735 |
| AstraZeneca Finance, LLC 2.25% 5/28/2031  | 2213 | 1982 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 13550 | 13819 |
| AstraZeneca PLC 3.375% 11/16/2025  | 5000 | 4982 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **44** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| Banner Health 1.897% 1/1/2031  | USD5,000 | $4390 |
| Banner Health 2.913% 1/1/2051  | 6005 | 3822 |
| Baxter International, Inc. 1.915% 2/1/2027  | 23217 | 22361 |
| Baxter International, Inc. 2.272% 12/1/2028  | 10377 | 9662 |
| Bayer US Finance II, LLC 4.25% 12/15/2025 <sup>(h)</sup>  | 2251 | 2245 |
| Bayer US Finance, LLC 6.125% 11/21/2026 <sup>(h)</sup>  | 23901 | 24298 |
| Bayer US Finance, LLC 6.25% 1/21/2029 <sup>(h)</sup>  | 13802 | 14496 |
| Baylor Scott & White Holdings 0.827% 11/15/2025  | 5462 | 5368 |
| Baylor Scott & White Holdings 1.777% 11/15/2030  | 21418 | 18773 |
| Bristol-Myers Squibb Co. 4.90% 2/22/2029  | 15000 | 15362 |
| Bristol-Myers Squibb Co. 3.40% 7/26/2029  | 25000 | 24229 |
| Bristol-Myers Squibb Co. 5.10% 2/22/2031  | 7350 | 7615 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 2175 | 2228 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 14500 | 14091 |
| Centene Corp. 4.25% 12/15/2027  | 57781 | 56942 |
| Cigna Group (The) 1.25% 3/15/2026  | 9398 | 9199 |
| CVS Health Corp. 5.00% 1/30/2029  | 18658 | 18946 |
| CVS Health Corp. 5.40% 6/1/2029  | 16914 | 17411 |
| CVS Health Corp. 5.25% 1/30/2031  | 10000 | 10231 |
| CVS Health Corp. 5.55% 6/1/2031  | 72404 | 75239 |
| CVS Health Corp. 5.70% 6/1/2034  | 18668 | 19229 |
| CVS Health Corp. 5.875% 6/1/2053  | 333 | 318 |
| CVS Health Corp. 6.05% 6/1/2054  | 12000 | 11769 |
| Elevance Health, Inc. 4.90% 2/8/2026  | 6375 | 6375 |
| Elevance Health, Inc. 4.75% 2/15/2030  | 5849 | 5922 |
| Elevance Health, Inc. 5.20% 2/15/2035  | 3064 | 3098 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 1718 | 1535 |
| Eli Lilly and Co. 3.375% 3/15/2029  | 77 | 75 |
| Eli Lilly and Co. 4.70% 2/27/2033  | 10105 | 10188 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 34660 | 35539 |
| Eli Lilly and Co. 4.875% 2/27/2053  | 4735 | 4342 |
| Eli Lilly and Co. 4.95% 2/27/2063  | 330 | 300 |
| GE HealthCare Technologies, Inc. 5.65% 11/15/2027  | 5000 | 5153 |
| Gilead Sciences, Inc. 1.65% 10/1/2030  | 5826 | 5095 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 9872 | 10216 |
| HCA, Inc. 3.375% 3/15/2029  | 3216 | 3091 |
| HCA, Inc. 3.625% 3/15/2032  | 5000 | 4614 |
| HCA, Inc. 4.375% 3/15/2042  | 7500 | 6277 |
| HCA, Inc. 4.625% 3/15/2052  | 7121 | 5727 |
| Humana, Inc. 3.70% 3/23/2029  | 5412 | 5248 |
| Humana, Inc. 5.375% 4/15/2031  | 27962 | 28612 |
| Humana, Inc. 5.55% 5/1/2035  | 29152 | 29326 |
| Humana, Inc. 5.75% 4/15/2054  | 6066 | 5655 |
| Medtronic Global Holdings S.C.A. 4.25% 3/30/2028  | 10039 | 10092 |
| Merck & Co., Inc. 1.90% 12/10/2028  | 1128 | 1054 |
| Novant Health, Inc. 3.168% 11/1/2051  | 25939 | 17080 |
| Novartis Capital Corp. 2.00% 2/14/2027  | 1607 | 1562 |
| Pfizer Investment Enterprises Pte., Ltd. 4.45% 5/19/2028  | 17222 | 17363 |
| Pfizer Investment Enterprises Pte., Ltd. 4.65% 5/19/2030  | 2151 | 2181 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 24781 | 24717 |
| Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043  | 812 | 775 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 8935 | 8441 |
| Pfizer, Inc. 2.625% 4/1/2030  | 15000 | 13976 |
| Roche Holdings, Inc. 4.203% 9/9/2029 <sup>(h)</sup>  | 17520 | 17563 |
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(h)</sup>  | 8771 | 8685 |
| Sharp HealthCare 2.68% 8/1/2050  | 15620 | 9612 |
| Summa Health 3.511% 11/15/2051  | 17193 | 14176 |
| Sutter Health 1.321% 8/15/2025  | 6000 | 5976 |
| Sutter Health 5.164% 8/15/2033  | 9905 | 10057 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 34501 | 34519 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 8701 | 8751 |
| Trinity Health Corp. 2.632% 12/1/2040  | 4500 | 3244 |
| UnitedHealth Group, Inc. 1.15% 5/15/2026  | 1959 | 1905 |
| UnitedHealth Group, Inc. 4.80% 1/15/2030  | 20000 | 20314 |
| UnitedHealth Group, Inc. 5.30% 2/15/2030  | 2899 | 3003 |
| UnitedHealth Group, Inc. 2.00% 5/15/2030  | 1081 | 968 |

---

---

| | |
|:---|:---|
| **45** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| UnitedHealth Group, Inc. 4.65% 1/15/2031  | USD20,000 | $20108 |
| UnitedHealth Group, Inc. 4.95% 1/15/2032  | 42546 | 43107 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032  | 1110 | 1075 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 13690 | 13835 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 21197 | 21613 |
| UnitedHealth Group, Inc. 5.625% 7/15/2054  | 11690 | 11348 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 31372 | 31883 |
| Viatris, Inc. 4.00% 6/22/2050  | 29847 | 19897 |
| West Virginia United Health System Obligated Group 3.129% 6/1/2050  | 4165 | 2627 |
|  |  | 1268000 |
| **Consumer staples 0.39%** | **Consumer staples 0.39%** | **Consumer staples 0.39%** |
| BAT Capital Corp. 4.70% 4/2/2027  | 5241 | 5268 |
| BAT Capital Corp. 3.557% 8/15/2027  | 6636 | 6532 |
| BAT Capital Corp. 2.259% 3/25/2028  | 17837 | 16880 |
| BAT Capital Corp. 3.462% 9/6/2029  | 2500 | 2406 |
| BAT Capital Corp. 4.906% 4/2/2030  | 6 | 6 |
| BAT Capital Corp. 6.343% 8/2/2030  | 31185 | 33631 |
| BAT Capital Corp. 5.834% 2/20/2031  | 2643 | 2782 |
| BAT Capital Corp. 2.726% 3/25/2031  | 4625 | 4167 |
| BAT Capital Corp. 4.742% 3/16/2032  | 3753 | 3733 |
| BAT Capital Corp. 5.35% 8/15/2032  | 20000 | 20470 |
| BAT Capital Corp. 6.421% 8/2/2033  | 5158 | 5604 |
| BAT Capital Corp. 6.00% 2/20/2034  | 10000 | 10546 |
| BAT Capital Corp. 5.625% 8/15/2035  | 25553 | 26013 |
| BAT Capital Corp. 4.39% 8/15/2037  | 4744 | 4245 |
| BAT Capital Corp. 7.079% 8/2/2043  | 27000 | 29760 |
| BAT Capital Corp. 4.54% 8/15/2047  | 826 | 668 |
| BAT Capital Corp. 4.758% 9/6/2049  | 1263 | 1042 |
| BAT Capital Corp. 5.65% 3/16/2052  | 8087 | 7541 |
| BAT International Finance PLC 1.668% 3/25/2026  | 7024 | 6880 |
| BAT International Finance PLC 4.448% 3/16/2028  | 38911 | 38982 |
| BAT International Finance PLC 5.931% 2/2/2029  | 15000 | 15746 |
| Campbell's Co. (The) 4.75% 3/23/2035  | 3736 | 3591 |
| Coca-Cola Co. 1.00% 3/15/2028  | 4324 | 4015 |
| Coca-Cola Co. 4.65% 8/14/2034  | 7076 | 7116 |
| Conagra Brands, Inc. 1.375% 11/1/2027  | 6375 | 5951 |
| Constellation Brands, Inc. 3.60% 2/15/2028  | 2500 | 2457 |
| Constellation Brands, Inc. 4.80% 5/1/2030  | 4561 | 4600 |
| Constellation Brands, Inc. 2.25% 8/1/2031  | 4462 | 3867 |
| Costco Wholesale Corp. 1.375% 6/20/2027  | 6670 | 6364 |
| Coty, Inc. 4.75% 1/15/2029 <sup>(h)</sup>  | 2692 | 2633 |
| Coty, Inc. 6.625% 7/15/2030 <sup>(h)</sup>  | 16375 | 16764 |
| Imperial Brands Finance PLC 4.50% 6/30/2028 <sup>(h)</sup>  | 8082 | 8082 |
| Imperial Brands Finance PLC 5.625% 7/1/2035 <sup>(h)</sup>  | 17632 | 17698 |
| Imperial Brands Finance PLC 6.375% 7/1/2055 <sup>(h)</sup>  | 12616 | 12801 |
| J. M. Smucker Co. (The) 5.90% 11/15/2028  | 8870 | 9325 |
| J. M. Smucker Co. (The) 6.20% 11/15/2033  | 6195 | 6652 |
| J. M. Smucker Co. (The) 6.50% 11/15/2043  | 958 | 1017 |
| J. M. Smucker Co. (The) 6.50% 11/15/2053  | 3599 | 3849 |
| JBS USA Holding Lux SARL 3.00% 2/2/2029  | 5387 | 5121 |
| JBS USA Holding Lux SARL 5.50% 1/15/2030  | 50 | 51 |
| JBS USA Holding Lux SARL 3.625% 1/15/2032  | 2104 | 1926 |
| Keurig Dr Pepper, Inc. 3.20% 5/1/2030  | 2510 | 2368 |
| Kroger Co. 5.00% 9/15/2034  | 17278 | 17165 |
| Kroger Co. 5.50% 9/15/2054  | 7826 | 7434 |
| Mars, Inc. 4.80% 3/1/2030 <sup>(h)</sup>  | 49160 | 49827 |
| Mars, Inc. 5.00% 3/1/2032 <sup>(h)</sup>  | 32707 | 33158 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(h)</sup>  | 69000 | 69861 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(h)</sup>  | 37726 | 37839 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(h)</sup>  | 87831 | 87679 |
| Mondelez International, Inc. 4.75% 8/28/2034  | 3876 | 3833 |
| Mondelez International, Inc. 5.125% 5/6/2035  | 10305 | 10364 |
| PepsiCo, Inc. 3.625% 3/19/2050  | 112 | 85 |
| PepsiCo, Inc. 2.75% 10/21/2051  | 275 | 172 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **46** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer staples (continued)** | **Consumer staples (continued)** | **Consumer staples (continued)** |
| Philip Morris International, Inc. 4.875% 2/13/2026  | USD3,717 | $3726 |
| Philip Morris International, Inc. 0.875% 5/1/2026  | 8311 | 8072 |
| Philip Morris International, Inc. 5.125% 11/17/2027  | 26447 | 26985 |
| Philip Morris International, Inc. 4.875% 2/15/2028  | 28500 | 28990 |
| Philip Morris International, Inc. 4.625% 11/1/2029  | 26770 | 27031 |
| Philip Morris International, Inc. 5.625% 11/17/2029  | 16943 | 17796 |
| Philip Morris International, Inc. 5.125% 2/15/2030  | 44786 | 46095 |
| Philip Morris International, Inc. 4.375% 4/30/2030  | 11884 | 11859 |
| Philip Morris International, Inc. 5.50% 9/7/2030  | 6000 | 6275 |
| Philip Morris International, Inc. 1.75% 11/1/2030  | 7178 | 6260 |
| Philip Morris International, Inc. 5.125% 2/13/2031  | 13014 | 13409 |
| Philip Morris International, Inc. 4.75% 11/1/2031  | 41610 | 41943 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 8756 | 9261 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 27205 | 27095 |
| Philip Morris International, Inc. 4.875% 4/30/2035  | 8875 | 8760 |
| Sysco Corp. 3.15% 12/14/2051  | 535 | 342 |
|  |  | 970466 |
| **Industrials 0.31%** | **Industrials 0.31%** | **Industrials 0.31%** |
| Air Lease Corp. 2.875% 1/15/2026  | 7997 | 7917 |
| Air Lease Corp. 2.20% 1/15/2027  | 6085 | 5893 |
| Air Lease Corp. 2.10% 9/1/2028  | 5824 | 5439 |
| Americold Realty Operating Partnership, LP 5.60% 5/15/2032  | 9660 | 9712 |
| BAE Systems PLC 5.125% 3/26/2029 <sup>(h)</sup>  | 19331 | 19821 |
| BAE Systems PLC 5.25% 3/26/2031 <sup>(h)</sup>  | 10863 | 11233 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(h)</sup>  | 11308 | 11566 |
| BAE Systems PLC 5.50% 3/26/2054 <sup>(h)</sup>  | 2445 | 2416 |
| Boeing Co. (The) 2.75% 2/1/2026  | 20502 | 20271 |
| Boeing Co. (The) 2.196% 2/4/2026  | 19842 | 19535 |
| Boeing Co. (The) 3.10% 5/1/2026  | 4822 | 4759 |
| Boeing Co. (The) 5.04% 5/1/2027  | 17340 | 17477 |
| Boeing Co. (The) 3.25% 2/1/2028  | 1165 | 1130 |
| Boeing Co. (The) 3.25% 3/1/2028  | 22113 | 21382 |
| Boeing Co. (The) 6.298% 5/1/2029  | 51926 | 54910 |
| Boeing Co. (The) 5.15% 5/1/2030  | 9820 | 10002 |
| Boeing Co. (The) 3.625% 2/1/2031  | 4420 | 4166 |
| Boeing Co. (The) 6.388% 5/1/2031  | 3696 | 3974 |
| Boeing Co. (The) 3.60% 5/1/2034  | 3180 | 2804 |
| Boeing Co. (The) 6.528% 5/1/2034  | 36722 | 39924 |
| Boeing Co. (The) 3.25% 2/1/2035  | 133 | 112 |
| Boeing Co. (The) 3.50% 3/1/2039  | 116 | 91 |
| Boeing Co. (The) 5.705% 5/1/2040  | 183 | 181 |
| Boeing Co. (The) 3.90% 5/1/2049  | 342 | 246 |
| Boeing Co. (The) 3.75% 2/1/2050  | 229 | 162 |
| Boeing Co. (The) 5.805% 5/1/2050  | 39286 | 37712 |
| Boeing Co. (The) 6.858% 5/1/2054  | 15237 | 16695 |
| Boeing Co. (The) 5.93% 5/1/2060  | 12115 | 11527 |
| Boeing Co. (The) 7.008% 5/1/2064  | 20378 | 22404 |
| Canadian Pacific Railway Co. 1.75% 12/2/2026  | 4071 | 3930 |
| Canadian Pacific Railway Co. 5.20% 3/30/2035  | 11531 | 11697 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 1133 | 825 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 3532 | 2324 |
| Carrier Global Corp. 2.493% 2/15/2027  | 30 | 29 |
| Carrier Global Corp. 3.377% 4/5/2040  | 1080 | 858 |
| CK Hutchison International (24), Ltd. 5.50% 4/26/2034 <sup>(h)</sup>  | 29900 | 30809 |
| CSX Corp. 3.80% 3/1/2028  | 3590 | 3558 |
| CSX Corp. 4.25% 3/15/2029  | 3650 | 3652 |
| CSX Corp. 5.20% 11/15/2033  | 5000 | 5171 |
| CSX Corp. 5.05% 6/15/2035  | 26813 | 26977 |
| Emerson Electric Co. 1.80% 10/15/2027  | 1480 | 1410 |
| John Deere Capital Corp. 5.10% 4/11/2034  | 30000 | 30708 |
| L3Harris Technologies, Inc. 5.40% 7/31/2033  | 17732 | 18222 |
| Lockheed Martin Corp. 4.45% 5/15/2028  | 13400 | 13558 |
| Masco Corp. 1.50% 2/15/2028  | 1996 | 1855 |
| Masco Corp. 2.00% 2/15/2031  | 1922 | 1656 |

---

---

| | |
|:---|:---|
| **47** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| Masco Corp. 3.125% 2/15/2051  | USD110 | $69 |
| Mexico City Airport Trust 4.25% 10/31/2026  | 2800 | 2744 |
| Mexico City Airport Trust 3.875% 4/30/2028 <sup>(h)</sup>  | 920 | 894 |
| Mexico City Airport Trust 5.50% 10/31/2046  | 1290 | 1076 |
| Mexico City Airport Trust 5.50% 7/31/2047  | 17195 | 14210 |
| Mexico City Airport Trust 5.50% 7/31/2047 <sup>(h)</sup>  | 5367 | 4435 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 7243 | 7090 |
| Norfolk Southern Corp. 5.10% 5/1/2035  | 13125 | 13196 |
| Norfolk Southern Corp. 3.05% 5/15/2050  | 4487 | 2955 |
| Norfolk Southern Corp. 4.55% 6/1/2053  | 1966 | 1662 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 16224 | 15510 |
| Paychex, Inc. 5.10% 4/15/2030  | 7804 | 7996 |
| Paychex, Inc. 5.60% 4/15/2035  | 1989 | 2057 |
| RTX Corp. 5.00% 2/27/2026  | 207 | 208 |
| RTX Corp. 4.125% 11/16/2028  | 30 | 30 |
| RTX Corp. 1.90% 9/1/2031  | 2015 | 1725 |
| RTX Corp. 5.15% 2/27/2033  | 13347 | 13649 |
| RTX Corp. 5.375% 2/27/2053  | 5079 | 4866 |
| Siemens Financieringsmaatschappij NV 1.20% 3/11/2026 <sup>(h)</sup>  | 10165 | 9958 |
| Siemens Funding BV 5.80% 5/28/2055 <sup>(h)</sup>  | 28035 | 28963 |
| Siemens Funding BV 5.90% 5/28/2065 <sup>(h)</sup>  | 26262 | 27207 |
| Triton Container International, Ltd. 3.15% 6/15/2031 <sup>(h)</sup>  | 19690 | 17106 |
| Union Pacific Corp. 3.75% 7/15/2025  | 1111 | 1111 |
| Union Pacific Corp. 5.10% 2/20/2035  | 13463 | 13699 |
| Union Pacific Corp. 2.891% 4/6/2036  | 7377 | 6104 |
| Union Pacific Corp. 5.60% 12/1/2054  | 9629 | 9587 |
| Union Pacific Corp. 3.839% 3/20/2060  | 2376 | 1712 |
| Union Pacific Corp. 3.799% 4/6/2071  | 2376 | 1630 |
| Varanasi Aurangabad Nh-2 Tollway Private, Ltd. 5.90% 2/28/2034 <sup>(h)</sup>  | 2440 | 2501 |
| Veralto Corp. 5.35% 9/18/2028  | 35000 | 36092 |
|  |  | 770742 |
| **Communication services 0.29%** | **Communication services 0.29%** | **Communication services 0.29%** |
| Alphabet, Inc. 5.25% 5/15/2055  | 3143 | 3098 |
| Alphabet, Inc. 5.30% 5/15/2065  | 7878 | 7720 |
| AT&T, Inc. 2.30% 6/1/2027  | 3530 | 3405 |
| AT&T, Inc. 4.35% 3/1/2029  | 5000 | 5012 |
| AT&T, Inc. 2.25% 2/1/2032  | 4055 | 3491 |
| AT&T, Inc. 5.40% 2/15/2034  | 2781 | 2862 |
| AT&T, Inc. 4.50% 5/15/2035  | 1093 | 1042 |
| AT&T, Inc. 5.375% 8/15/2035  | 10000 | 10186 |
| AT&T, Inc. 3.50% 9/15/2053  | 10178 | 6894 |
| Charter Communications Operating, LLC 4.908% 7/23/2025  | 577 | 577 |
| Charter Communications Operating, LLC 4.20% 3/15/2028  | 10000 | 9914 |
| Charter Communications Operating, LLC 2.25% 1/15/2029  | 2417 | 2227 |
| Charter Communications Operating, LLC 6.10% 6/1/2029  | 37331 | 39094 |
| Charter Communications Operating, LLC 2.30% 2/1/2032  | 30000 | 25324 |
| Charter Communications Operating, LLC 4.40% 4/1/2033  | 1945 | 1832 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 32976 | 26403 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 40326 | 26883 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 65481 | 44978 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 54978 | 46740 |
| Charter Communications Operating, LLC / Charter Communications Operating Capital 5.50% 4/1/2063  | 20556 | 17395 |
| Comcast Corp. 1.95% 1/15/2031  | 10000 | 8768 |
| Comcast Corp. 4.80% 5/15/2033  | 10000 | 9984 |
| Comcast Corp. 5.30% 6/1/2034  | 8684 | 8898 |
| Comcast Corp. 5.30% 5/15/2035  | 3374 | 3439 |
| Comcast Corp. 5.65% 6/1/2054  | 9401 | 9142 |
| Comcast Corp. 2.937% 11/1/2056  | 2267 | 1332 |
| Meta Platforms, Inc. 4.75% 8/15/2034  | 15750 | 15829 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 16250 | 15859 |
| Netflix, Inc. 4.875% 4/15/2028  | 7892 | 8059 |
| SBA Tower Trust 1.631% 11/15/2026 <sup>(h)</sup>  | 99657 | 95643 |
| Take-Two Interactive Software, Inc. 4.00% 4/14/2032  | 8925 | 8458 |
| T-Mobile USA, Inc. 1.50% 2/15/2026  | 3750 | 3677 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **48** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services (continued)** | **Communication services (continued)** | **Communication services (continued)** |
| T-Mobile USA, Inc. 2.25% 2/15/2026  | USD2,727 | $2687 |
| T-Mobile USA, Inc. 2.625% 4/15/2026  | 10555 | 10398 |
| T-Mobile USA, Inc. 3.75% 4/15/2027  | 5000 | 4950 |
| T-Mobile USA, Inc. 2.05% 2/15/2028  | 2390 | 2260 |
| T-Mobile USA, Inc. 4.95% 3/15/2028  | 9232 | 9390 |
| T-Mobile USA, Inc. 4.80% 7/15/2028  | 19250 | 19512 |
| T-Mobile USA, Inc. 4.85% 1/15/2029  | 15000 | 15212 |
| T-Mobile USA, Inc. 2.625% 2/15/2029  | 4834 | 4539 |
| T-Mobile USA, Inc. 2.40% 3/15/2029  | 401 | 374 |
| T-Mobile USA, Inc. 2.55% 2/15/2031  | 244 | 219 |
| T-Mobile USA, Inc. 2.875% 2/15/2031  | 6525 | 5942 |
| T-Mobile USA, Inc. 2.70% 3/15/2032  | 2990 | 2636 |
| T-Mobile USA, Inc. 5.125% 5/15/2032  | 40052 | 40859 |
| T-Mobile USA, Inc. 5.05% 7/15/2033  | 2124 | 2139 |
| T-Mobile USA, Inc. 5.30% 5/15/2035  | 29370 | 29749 |
| T-Mobile USA, Inc. 3.40% 10/15/2052  | 1653 | 1105 |
| T-Mobile USA, Inc. 5.75% 1/15/2054  | 506 | 496 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 1933 | 1734 |
| Verizon Communications, Inc. 2.355% 3/15/2032  | 13908 | 11994 |
| Verizon Communications, Inc. 5.05% 5/9/2033  | 8462 | 8584 |
| Verizon Communications, Inc. 5.25% 4/2/2035  | 42768 | 43141 |
| Verizon Communications, Inc. 2.875% 11/20/2050  | 2167 | 1351 |
| Verizon Communications, Inc. 2.987% 10/30/2056  | 5537 | 3336 |
| WarnerMedia Holdings, Inc. 3.755% 3/15/2027  | 8326 | 7770 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 36202 | 25432 |
|  |  | 729974 |
| **Real estate 0.22%** | **Real estate 0.22%** | **Real estate 0.22%** |
| Alexandria Real Estate Equities, Inc. 3.95% 1/15/2028  | 2720 | 2691 |
| Alexandria Real Estate Equities, Inc. 3.375% 8/15/2031  | 3540 | 3275 |
| Alexandria Real Estate Equities, Inc. 4.85% 4/15/2049  | 2040 | 1711 |
| Alexandria Real Estate Equities, Inc. 4.00% 2/1/2050  | 3907 | 2879 |
| American Homes 4 Rent, LP 4.95% 6/15/2030  | 20374 | 20591 |
| American Tower Corp. 1.45% 9/15/2026  | 10457 | 10104 |
| American Tower Corp. 3.60% 1/15/2028  | 3750 | 3683 |
| American Tower Corp. 2.30% 9/15/2031  | 732 | 635 |
| American Tower Corp. 2.95% 1/15/2051  | 3750 | 2377 |
| Boston Properties, LP 2.90% 3/15/2030  | 47006 | 43212 |
| Boston Properties, LP 3.25% 1/30/2031  | 20599 | 18888 |
| Boston Properties, LP 2.55% 4/1/2032  | 49079 | 41430 |
| Boston Properties, LP 2.45% 10/1/2033  | 111428 | 89099 |
| Boston Properties, LP 6.50% 1/15/2034  | 100264 | 107396 |
| Boston Properties, LP 5.75% 1/15/2035  | 42473 | 42769 |
| COPT Defense Properties, LP 2.00% 1/15/2029  | 301 | 274 |
| COPT Defense Properties, LP 2.75% 4/15/2031  | 1420 | 1257 |
| COPT Defense Properties, LP 2.90% 12/1/2033  | 6496 | 5342 |
| Corp. Inmobiliaria Vesta, SAB de CV, 3.625% 5/13/2031 <sup>(h)</sup>  | 7150 | 6328 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 1652 | 1669 |
| Digital Realty Trust, LP 5.55% 1/15/2028  | 5000 | 5130 |
| Equinix Europe 2 Financing Corp., LLC 3.25% 3/15/2031  | EUR10,000 | 11674 |
| ERP Operating, LP 4.65% 9/15/2034  | USD4,736 | 4598 |
| Essex Portfolio, LP 3.375% 4/15/2026  | 2395 | 2372 |
| Extra Space Storage, LP 2.35% 3/15/2032  | 4209 | 3574 |
| GLP Capital, LP 4.00% 1/15/2030  | 5000 | 4809 |
| Host Hotels & Resorts, LP 5.70% 6/15/2032  | 19000 | 19279 |
| Invitation Homes Operating Partnership, LP 2.00% 8/15/2031  | 10194 | 8685 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 19197 | 19334 |
| Prologis, LP 4.875% 6/15/2028  | 5969 | 6092 |
| Prologis, LP 4.75% 6/15/2033  | 10929 | 10904 |
| Prologis, LP 5.00% 3/15/2034  | 2650 | 2658 |
| Prologis, LP 5.00% 1/31/2035  | 5735 | 5737 |
| Prologis, LP 5.25% 6/15/2053  | 273 | 257 |
| Public Storage Operating Co. 1.85% 5/1/2028  | 8830 | 8295 |
| Public Storage Operating Co. 1.95% 11/9/2028  | 6081 | 5665 |
| Public Storage Operating Co. 2.30% 5/1/2031  | 1855 | 1650 |

---

---

| | |
|:---|:---|
| **49** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate (continued)** | **Real estate (continued)** | **Real estate (continued)** |
| Scentre Group Trust 1 3.25% 10/28/2025 <sup>(h)</sup>  | USD1,780 | $1772 |
| Scentre Group Trust 1 3.75% 3/23/2027 <sup>(h)</sup>  | 7630 | 7542 |
| Sun Communities Operating, LP 2.30% 11/1/2028  | 6430 | 6020 |
| Sun Communities Operating, LP 2.70% 7/15/2031  | 1753 | 1555 |
| VICI Properties, LP 4.75% 4/1/2028  | 10834 | 10925 |
|  |  | 554137 |
| **Information technology 0.14%** | **Information technology 0.14%** | **Information technology 0.14%** |
| Accenture Capital, Inc. 4.25% 10/4/2031  | 20724 | 20536 |
| Accenture Capital, Inc. 4.50% 10/4/2034  | 19774 | 19252 |
| Analog Devices, Inc. 1.70% 10/1/2028  | 2487 | 2306 |
| Analog Devices, Inc. 5.05% 4/1/2034  | 10123 | 10382 |
| Analog Devices, Inc. 5.30% 4/1/2054  | 7046 | 6798 |
| Booz Allen Hamilton, Inc. 5.95% 8/4/2033  | 6135 | 6305 |
| Broadcom Corp. 3.875% 1/15/2027  | 12 | 12 |
| Broadcom, Inc. 4.00% 4/15/2029 <sup>(h)</sup>  | 219 | 216 |
| Broadcom, Inc. 4.15% 4/15/2032 <sup>(h)</sup>  | 2471 | 2382 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(h)</sup>  | 304 | 272 |
| Broadcom, Inc. 3.187% 11/15/2036 <sup>(h)</sup>  | 588 | 488 |
| Cisco Systems, Inc. 4.85% 2/26/2029  | 25000 | 25626 |
| Cisco Systems, Inc. 5.10% 2/24/2035  | 40612 | 41586 |
| Intuit, Inc. 0.95% 7/15/2025  | 1116 | 1114 |
| Intuit, Inc. 1.35% 7/15/2027  | 1101 | 1044 |
| Microchip Technology, Inc. 4.90% 3/15/2028  | 4256 | 4304 |
| Microchip Technology, Inc. 5.05% 3/15/2029  | 12575 | 12779 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 38583 | 39155 |
| Oracle Corp. 5.25% 2/3/2032  | 19750 | 20267 |
| Oracle Corp. 5.50% 8/3/2035  | 25928 | 26514 |
| Oracle Corp. 5.55% 2/6/2053  | 799 | 752 |
| SK hynix, Inc. 6.375% 1/17/2028 <sup>(h)</sup>  | 10000 | 10434 |
| Synopsys, Inc. 5.15% 4/1/2035  | 56084 | 56552 |
| Synopsys, Inc. 5.70% 4/1/2055  | 22931 | 22816 |
| Texas Instruments, Inc. 4.60% 2/8/2029  | 10216 | 10394 |
| Texas Instruments, Inc. 4.85% 2/8/2034  | 10536 | 10707 |
| TSMC Global, Ltd. 4.375% 7/22/2027 <sup>(h)</sup>  | 332 | 333 |
|  |  | 353326 |
| **Materials 0.07%** | **Materials 0.07%** | **Materials 0.07%** |
| Air Products and Chemicals, Inc. 1.50% 10/15/2025  | 2610 | 2589 |
| Air Products and Chemicals, Inc. 1.85% 5/15/2027  | 7229 | 6944 |
| Air Products and Chemicals, Inc. 2.05% 5/15/2030  | 3140 | 2841 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 295 | 296 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 134 | 137 |
| Celanese US Holdings, LLC 6.415% 7/15/2027  | 19717 | 20432 |
| Celanese US Holdings, LLC 6.629% 7/15/2032  | 2094 | 2197 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 7724 | 8204 |
| Chevron Phillips Chemical Co., LLC 4.75% 5/15/2030 <sup>(h)</sup>  | 7829 | 7936 |
| Corporacion Nacional del Cobre de Chile 5.125% 2/2/2033 <sup>(h)</sup>  | 299 | 291 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 11819 | 11762 |
| Dow Chemical Co. (The) 4.80% 5/15/2049  | 4641 | 3821 |
| Dow Chemical Co. (The) 3.60% 11/15/2050  | 7611 | 5156 |
| Dow Chemical Co. (The) 5.95% 3/15/2055  | 20250 | 19319 |
| EIDP, Inc. 4.80% 5/15/2033  | 1086 | 1082 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(h)</sup>  | 3845 | 3881 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(h)</sup>  | 3730 | 3794 |
| LYB International Finance III, LLC 1.25% 10/1/2025  | 14881 | 14752 |
| LYB International Finance III, LLC 2.25% 10/1/2030  | 2855 | 2530 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 2636 | 2737 |
| LYB International Finance III, LLC 4.20% 5/1/2050  | 394 | 293 |
| LYB International Finance III, LLC 3.625% 4/1/2051  | 376 | 252 |
| Minera Mexico SA de CV, 5.625% 2/12/2032 <sup>(h)</sup>  | 30680 | 31235 |
| Mosaic Co. 4.05% 11/15/2027  | 4490 | 4459 |
| OCI NV 6.70% 3/16/2033 <sup>(h)</sup>  | 2131 | 2360 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 6326 | 6440 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **50** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Materials (continued)** | **Materials (continued)** | **Materials (continued)** |
| Rio Tinto Finance (USA) PLC 5.75% 3/14/2055  | USD14,682 | $14715 |
| Sherwin-Williams Co. 2.20% 3/15/2032  | 3123 | 2685 |
| Sherwin-Williams Co. 3.80% 8/15/2049  | 80 | 59 |
| Sherwin-Williams Co. 3.30% 5/15/2050  | 1500 | 1015 |
| Westlake Corp. 4.375% 11/15/2047  | 1500 | 1174 |
|  |  | 185388 |
| **Other 0.00%** | **Other 0.00%** | **Other 0.00%** |
| Rockefeller Foundation (The) 2.492% 10/1/2050  | 13095 | 7736 |
| **Total corporate bonds, notes & loans** |  | 19472968 |
| **U.S. Treasury bonds & notes 6.74%** | **U.S. Treasury bonds & notes 6.74%** | **U.S. Treasury bonds & notes 6.74%** |
| **U.S. Treasury 5.21%** | **U.S. Treasury 5.21%** | **U.S. Treasury 5.21%** |
| U.S. Treasury 3.00% 7/15/2025  | 1092 | 1091 |
| U.S. Treasury 4.75% 7/31/2025  | 84671 | 84697 |
| U.S. Treasury 5.00% 8/31/2025  | 24960 | 24982 |
| U.S. Treasury 5.00% 10/31/2025  | 111764 | 112013 |
| U.S. Treasury 0.375% 11/30/2025  | 20000 | 19681 |
| U.S. Treasury 4.00% 2/15/2026  | 10457 | 10446 |
| U.S. Treasury 4.625% 2/28/2026  | 11467 | 11501 |
| U.S. Treasury 2.25% 3/31/2026  | 8973 | 8853 |
| U.S. Treasury 3.75% 4/15/2026  | 72000 | 71824 |
| U.S. Treasury 3.625% 5/15/2026  | 7018 | 6993 |
| U.S. Treasury 4.375% 7/31/2026  | 77873 | 78195 |
| U.S. Treasury 0.75% 8/31/2026  | 37 | 36 |
| U.S. Treasury 4.625% 9/15/2026  | 13790 | 13904 |
| U.S. Treasury 0.875% 9/30/2026  | 405 | 390 |
| U.S. Treasury 3.50% 9/30/2026  | 36865 | 36681 |
| U.S. Treasury 1.125% 10/31/2026  | 13564 | 13081 |
| U.S. Treasury 2.00% 11/15/2026  | 47200 | 46028 |
| U.S. Treasury 4.625% 11/15/2026  | 19809 | 20005 |
| U.S. Treasury 6.50% 11/15/2026  | 39650 | 41215 |
| U.S. Treasury 2.25% 2/15/2027  | 1900 | 1854 |
| U.S. Treasury 4.125% 2/15/2027  | 7942 | 7981 |
| U.S. Treasury 1.125% 2/28/2027  | 930 | 890 |
| U.S. Treasury 2.375% 5/15/2027  | 734 | 716 |
| U.S. Treasury 3.875% 5/31/2027  | 226199 | 227105 |
| U.S. Treasury 3.25% 6/30/2027  | 242903 | 240726 |
| U.S. Treasury 3.75% 6/30/2027  | 336334 | 336557 |
| U.S. Treasury 6.375% 8/15/2027  | 35690 | 37634 |
| U.S. Treasury 0.625% 12/31/2027  | 9448 | 8759 |
| U.S. Treasury 4.25% 1/15/2028  | 720000 | 729350 |
| U.S. Treasury 2.75% 2/15/2028  | 10125 | 9884 |
| U.S. Treasury 4.25% 2/15/2028 <sup>(k)</sup>  | 1400000 | 1418944 |
| U.S. Treasury 4.00% 2/29/2028  | 171747 | 173044 |
| U.S. Treasury 3.625% 3/31/2028  | 52103 | 52014 |
| U.S. Treasury 2.875% 5/15/2028  | 46997 | 45947 |
| U.S. Treasury 3.625% 5/31/2028  | 74841 | 74683 |
| U.S. Treasury 3.875% 6/15/2028  | 298499 | 300073 |
| U.S. Treasury 1.25% 6/30/2028  | 17561 | 16350 |
| U.S. Treasury 4.00% 6/30/2028  | 77091 | 77751 |
| U.S. Treasury 1.00% 7/31/2028  | 6527 | 6017 |
| U.S. Treasury 1.375% 10/31/2028  | 6716 | 6228 |
| U.S. Treasury 3.125% 11/15/2028  | 41549 | 40775 |
| U.S. Treasury 1.50% 11/30/2028  | 46700 | 43403 |
| U.S. Treasury 4.00% 1/31/2029  | 254696 | 257012 |
| U.S. Treasury 5.25% 2/15/2029  | 35690 | 37640 |
| U.S. Treasury 3.25% 6/30/2029  | 58480 | 57415 |
| U.S. Treasury 4.00% 7/31/2029  | 80000 | 80752 |
| U.S. Treasury 3.625% 8/31/2029  | 17650 | 17563 |
| U.S. Treasury 4.125% 11/30/2029  | 22060 | 22385 |
| U.S. Treasury 4.375% 12/31/2029  | 337000 | 345354 |
| U.S. Treasury 3.50% 1/31/2030  | 67000 | 66218 |
| U.S. Treasury 4.25% 1/31/2030  | 50150 | 51143 |

---

---

| | |
|:---|:---|
| **51** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** | **U.S. Treasury (continued)** | **U.S. Treasury (continued)** |
| U.S. Treasury 4.00% 2/28/2030  | USD458,407 | $462897 |
| U.S. Treasury 3.625% 3/31/2030  | 23000 | 22837 |
| U.S. Treasury 0.625% 5/15/2030  | 22310 | 19194 |
| U.S. Treasury 4.00% 5/31/2030  | 104059 | 107591 |
| U.S. Treasury 3.75% 6/30/2030  | 4675 | 4663 |
| U.S. Treasury 3.875% 6/30/2030  | 933326 | 936936 |
| U.S. Treasury 0.625% 8/15/2030  | 114675 | 97791 |
| U.S. Treasury 4.625% 9/30/2030  | 25150 | 26094 |
| U.S. Treasury 4.875% 10/31/2030  | 62722 | 65838 |
| U.S. Treasury 4.25% 6/30/2031  | 264000 | 268827 |
| U.S. Treasury 4.125% 7/31/2031  | 146500 | 148165 |
| U.S. Treasury 1.25% 8/15/2031  | 38264 | 32731 |
| U.S. Treasury 4.50% 12/31/2031  | 27000 | 27840 |
| U.S. Treasury 2.875% 5/15/2032  | 93519 | 87251 |
| U.S. Treasury 4.00% 6/30/2032  | 437113 | 437352 |
| U.S. Treasury 4.125% 11/15/2032  | 20061 | 20197 |
| U.S. Treasury 3.50% 2/15/2033  | 145000 | 139778 |
| U.S. Treasury 3.375% 5/15/2033  | 48871 | 46580 |
| U.S. Treasury 3.875% 8/15/2033  | 49445 | 48707 |
| U.S. Treasury 4.50% 11/15/2033  | 6762 | 6945 |
| U.S. Treasury 4.00% 2/15/2034  | 29600 | 29293 |
| U.S. Treasury 4.375% 5/15/2034  | 144130 | 146438 |
| U.S. Treasury 3.875% 8/15/2034  | 59250 | 57854 |
| U.S. Treasury 4.25% 11/15/2034  | 86275 | 86557 |
| U.S. Treasury 4.625% 2/15/2035  | 113000 | 116588 |
| U.S. Treasury 4.25% 5/15/2035  | 7871 | 7881 |
| U.S. Treasury 4.25% 5/15/2039  | 84397 | 82188 |
| U.S. Treasury 1.375% 11/15/2040  | 38809 | 24716 |
| U.S. Treasury 1.875% 2/15/2041  | 98666 | 67872 |
| U.S. Treasury 2.25% 5/15/2041 <sup>(k)</sup>  | 140792 | 102306 |
| U.S. Treasury 2.00% 11/15/2041  | 6986 | 4806 |
| U.S. Treasury 2.375% 2/15/2042  | 4990 | 3628 |
| U.S. Treasury 3.25% 5/15/2042  | 315158 | 260668 |
| U.S. Treasury 2.75% 8/15/2042  | 32660 | 24998 |
| U.S. Treasury 3.375% 8/15/2042  | 152000 | 127538 |
| U.S. Treasury 2.75% 11/15/2042  | 77000 | 58647 |
| U.S. Treasury 3.125% 2/15/2043  | 47605 | 38270 |
| U.S. Treasury 2.875% 5/15/2043  | 58590 | 45179 |
| U.S. Treasury 3.875% 5/15/2043  | 34310 | 30642 |
| U.S. Treasury 3.625% 2/15/2044  | 24780 | 21208 |
| U.S. Treasury 4.50% 2/15/2044 <sup>(k)</sup>  | 230000 | 222327 |
| U.S. Treasury 4.625% 5/15/2044  | 26500 | 25985 |
| U.S. Treasury 3.125% 8/15/2044  | 39447 | 31089 |
| U.S. Treasury 4.125% 8/15/2044  | 164000 | 150232 |
| U.S. Treasury 2.50% 2/15/2045  | 51860 | 36521 |
| U.S. Treasury 4.75% 2/15/2045  | 230000 | 228742 |
| U.S. Treasury 3.00% 5/15/2045  | 24780 | 18980 |
| U.S. Treasury 5.00% 5/15/2045 <sup>(c)</sup>  | 733868 | 753764 |
| U.S. Treasury 3.00% 11/15/2045  | 23145 | 17628 |
| U.S. Treasury 3.00% 5/15/2047  | 55603 | 41633 |
| U.S. Treasury 2.75% 8/15/2047  | 82381 | 58709 |
| U.S. Treasury 3.00% 2/15/2048  | 3743 | 2781 |
| U.S. Treasury 2.00% 2/15/2050  | 56616 | 33247 |
| U.S. Treasury 2.375% 5/15/2051  | 84719 | 53757 |
| U.S. Treasury 2.00% 8/15/2051  | 571 | 329 |
| U.S. Treasury 1.875% 11/15/2051  | 25500 | 14188 |
| U.S. Treasury 2.25% 2/15/2052  | 149126 | 91070 |
| U.S. Treasury 4.00% 11/15/2052  | 83509 | 73070 |
| U.S. Treasury 3.625% 5/15/2053  | 113815 | 92808 |
| U.S. Treasury 4.25% 2/15/2054  | 14150 | 12913 |
| U.S. Treasury 4.625% 5/15/2054  | 173000 | 167999 |
| U.S. Treasury 4.25% 8/15/2054  | 180883 | 165168 |
| U.S. Treasury 4.50% 11/15/2054  | 189935 | 180987 |
| U.S. Treasury 4.625% 2/15/2055  | 142493 | 138697 |
| U.S. Treasury 4.75% 5/15/2055 <sup>(k)</sup>  | 732000 | 727715 |
|  |  | 13079613 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **52** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury inflation-protected securities 1.53%** | **U.S. Treasury inflation-protected securities 1.53%** | **U.S. Treasury inflation-protected securities 1.53%** |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025 <sup>(l)</sup>  | USD17,661 | $17655 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2025 <sup>(l)</sup>  | 114621 | 114257 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2026 <sup>(l)</sup>  | 336415 | 332797 |
| U.S. Treasury Inflation-Protected Security 0.125% 10/15/2026 <sup>(k)(l)</sup>  | 210985 | 208618 |
| U.S. Treasury Inflation-Protected Security 0.375% 1/15/2027 <sup>(l)</sup>  | 289997 | 286085 |
| U.S. Treasury Inflation-Protected Security 0.125% 4/15/2027 <sup>(l)</sup>  | 162436 | 159071 |
| U.S. Treasury Inflation-Protected Security 2.375% 10/15/2028 <sup>(l)</sup>  | 115929 | 120266 |
| U.S. Treasury Inflation-Protected Security 1.625% 10/15/2029 <sup>(k)(l)</sup>  | 1572950 | 1592461 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2030 <sup>(l)</sup>  | 6000 | 5663 |
| U.S. Treasury Inflation-Protected Security 0.125% 1/15/2031 <sup>(l)</sup>  | 94798 | 87809 |
| U.S. Treasury Inflation-Protected Security 1.75% 1/15/2034 <sup>(l)</sup>  | 50505 | 50057 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(l)</sup>  | 294201 | 294566 |
| U.S. Treasury Inflation-Protected Security 2.125% 1/15/2035 <sup>(l)</sup>  | 100624 | 102284 |
| U.S. Treasury Inflation-Protected Security 0.625% 2/15/2043 <sup>(l)</sup>  | 24498 | 18210 |
| U.S. Treasury Inflation-Protected Security 1.375% 2/15/2044 <sup>(l)</sup>  | 51845 | 43544 |
| U.S. Treasury Inflation-Protected Security 1.00% 2/15/2046 <sup>(l)</sup>  | 20775 | 15752 |
| U.S. Treasury Inflation-Protected Security 0.25% 2/15/2050 <sup>(l)</sup>  | 2669 | 1551 |
| U.S. Treasury Inflation-Protected Security 1.50% 2/15/2053 <sup>(l)</sup>  | 107127 | 84898 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(l)</sup>  | 114653 | 104972 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(k)(l)</sup>  | 212707 | 205714 |
|  |  | 3846230 |
| **Total U.S. Treasury bonds & notes** |  | 16925843 |
| **Asset-backed obligations 2.80%** | **Asset-backed obligations 2.80%** | **Asset-backed obligations 2.80%** |
| ACHV ABS Trust, Series 2025-1PL, Class A, 4.76% 4/26/2032 <sup>(d)(h)</sup>  | 1871 | 1871 |
| Affirm Asset Securitization Trust, Series 2021-Z2, Class A, 1.17% 11/16/2026 <sup>(d)(h)</sup>  | 122 | 122 |
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(d)(h)</sup>  | 40547 | 40568 |
| Affirm Master Trust, 2025-2A, Class A, 4.67% 7/15/2033 <sup>(d)(h)</sup>  | 12687 | 12768 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(d)(h)</sup>  | 12111 | 12169 |
| Affirm, Inc., Series 2024-X1, Class A, 6.27% 5/15/2029 <sup>(d)(h)</sup>  | 831 | 832 |
| Affirm, Inc., Series 2024-X2, Class A, 5.22% 12/17/2029 <sup>(d)(h)</sup>  | 5770 | 5774 |
| Allegro CLO, Ltd., Series 2019-1, Class ARR, (3-month USD CME Term SOFR + 1.13%) 5.399% 4/20/2032 <sup>(d)(e)(h)</sup>  | 17911 | 17921 |
| Allegro CLO, Ltd., Series 2019-2, Class CR, (3-month USD CME Term SOFR + 2.53%) 6.799% 1/19/2033 <sup>(d)(e)(h)</sup>  | 5520 | 5530 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class A, 5.76% 11/12/2027 <sup>(d)(h)</sup>  | 3300 | 3307 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(d)(h)</sup>  | 6587 | 6586 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class B, 5.66% 8/14/2028 <sup>(d)(h)</sup>  | 5925 | 5954 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class B, 4.80% 11/13/2028 <sup>(d)(h)</sup>  | 1664 | 1666 |
| American Credit Acceptance Receivables Trust, Series 2025-1, Class B, 4.90% 3/12/2029 <sup>(d)(h)</sup>  | 2196 | 2205 |
| American Credit Acceptance Receivables Trust, Series 2025-2, Class B, 4.85% 5/14/2029 <sup>(d)(h)</sup>  | 4632 | 4647 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class C, 6.24% 4/12/2030 <sup>(d)(h)</sup>  | 12578 | 12731 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class D, 6.53% 4/12/2030 <sup>(d)(h)</sup>  | 14562 | 14919 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class C, 5.73% 7/12/2030 <sup>(d)(h)</sup>  | 29744 | 30099 |
| American Credit Acceptance Receivables Trust, Series 2024-3, Class D, 6.04% 7/12/2030 <sup>(d)(h)</sup>  | 9497 | 9712 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class C, 4.91% 8/12/2031 <sup>(d)(h)</sup>  | 6144 | 6162 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class D, 5.34% 8/12/2031 <sup>(d)(h)</sup>  | 12883 | 12927 |
| American Express Credit Account Master Trust, Series 2022-3, Class A, 3.75% 8/16/2027 <sup>(d)</sup>  | 6666 | 6660 |
| American Money Management Corp., CLO, Series 2016-18, Class AR, (3-month USD CME Term SOFR + 1.362%) <br> 5.691% 5/26/2031 <sup>(d)(e)(h)</sup>  | 341 | 341 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class C, 1.01% 1/19/2027 <sup>(d)</sup>  | 958 | 949 |
| AmeriCredit Automobile Receivables Trust, Series 2021-2, Class D, 1.29% 6/18/2027 <sup>(d)</sup>  | 20192 | 19794 |
| AmeriCredit Automobile Receivables Trust, Series 2023-1, Class B, 5.57% 3/20/2028 <sup>(d)</sup>  | 11077 | 11179 |
| AmeriCredit Automobile Receivables Trust, Series 2023-2, Class A3, 5.81% 5/18/2028 <sup>(d)</sup>  | 34592 | 34858 |
| Apidos CLO, Ltd., Series 2019-32A, Class A1R, (3-month USD CME Term SOFR + 1.10%) 5.369% 1/20/2033 <sup>(d)(e)(h)</sup>  | 12436 | 12442 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(d)(h)</sup>  | 45581 | 46134 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(d)(h)</sup>  | 7483 | 7635 |
| ARES CLO, Ltd., Series 2015-2, Class AR3, (3-month USD CME Term SOFR + 1.32%) 5.60% 4/17/2033 <sup>(d)(e)(h)</sup>  | 25462 | 25502 |
| Auxilior Term Funding, LLC, Series 24-1, Class A2, 5.84% 3/15/2027 <sup>(d)(h)</sup>  | 2250 | 2262 |
| Auxilior Term Funding, LLC, Series 24-1, Class A3, 5.49% 7/15/2031 <sup>(d)(h)</sup>  | 11907 | 12172 |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(d)(h)</sup>  | 33250 | 33166 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class A, 2.33% 8/20/2026 <sup>(d)(h)</sup>  | 16724 | 16683 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class A, 2.02% 2/20/2027 <sup>(d)(h)</sup>  | 54855 | 54235 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/2027 <sup>(d)(h)</sup>  | 3873 | 3839 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class A, 1.38% 8/20/2027 <sup>(d)(h)</sup>  | 75784 | 73627 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/2027 <sup>(d)(h)</sup>  | 13825 | 13417 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/2027 <sup>(d)(h)</sup>  | 1542 | 1496 |

---

---

| | |
|:---|:---|
| **53** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class A, 5.20% 10/20/2027 <sup>(d)(h)</sup>  | USD8,650 | $8719 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-2, Class B, 6.03% 10/20/2027 <sup>(d)(h)</sup>  | 3228 | 3265 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class A, 5.44% 2/22/2028 <sup>(d)(h)</sup>  | 2750 | 2786 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class A, 5.78% 4/20/2028 <sup>(d)(h)</sup>  | 15110 | 15424 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-4A, Class A, 4.77% 2/20/2029 <sup>(d)(h)</sup>  | 10000 | 10085 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-1, Class A, 5.25% 4/20/2029 <sup>(d)(h)</sup>  | 19885 | 20295 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-1, Class B, 6.08% 4/20/2029 <sup>(d)(h)</sup>  | 9510 | 9809 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4, Class A, 5.49% 6/20/2029 <sup>(d)(h)</sup>  | 12400 | 12749 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(d)(h)</sup>  | 3763 | 3810 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class A, 5.81% 12/20/2029 <sup>(d)(h)</sup>  | 28032 | 29161 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8, Class A, 6.02% 2/20/2030 <sup>(d)(h)</sup>  | 7175 | 7512 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class A, 5.36% 6/20/2030 <sup>(d)(h)</sup>  | 15860 | 16303 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-1, Class B, 5.85% 6/20/2030 <sup>(d)(h)</sup>  | 2846 | 2946 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-3, Class A, 5.23% 12/20/2030 <sup>(d)(h)</sup>  | 16000 | 16379 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2024-3, Class B, 5.58% 12/20/2030 <sup>(d)(h)</sup>  | 3342 | 3430 |
| AXIS Equipment Finance Receivables, LLC, Series 2024-2, Class A2, 5.19% 7/21/2031 <sup>(d)(h)</sup>  | 11083 | 11189 |
| Ballyrock, Ltd., CLO, Series 2019-2A, Class A1R, (3-month USD CME Term SOFR + 1.40%) 5.722% <br>2/20/2036 <sup>(d)(e)(h)</sup>  | 55356 | 55496 |
| Bank of America Credit Card Trust, Series 2022-A2, Class A2, 5.00% 4/17/2028 <sup>(d)</sup>  | 10702 | 10723 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/2033 <sup>(d)(h)</sup>  | 1100 | 1081 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 11/17/2033 <sup>(d)(h)</sup>  | 1715 | 1658 |
| Battalion CLO, Ltd., Series 2018-12A, Class ARR, (3-month USD CME Term SOFR + 0.93%) 5.254% <br>5/17/2031 <sup>(d)(e)(h)</sup>  | 22136 | 22098 |
| Battalion CLO, Ltd., Series 2018-12A, Class BRR, (3-month USD CME Term SOFR + 1.20%) 5.524% <br>5/17/2031 <sup>(d)(e)(h)</sup>  | 13891 | 13874 |
| Benefit Street Partners CLO, Ltd., Series 2015-8, Class A1AR, (3-month USD CME Term SOFR + 1.362%) 5.631% <br> 1/20/2031 <sup>(d)(e)(h)</sup>  | 181 | 181 |
| Birch Grove CLO, Ltd., Series 2023-6, Class A1, (3-month USD CME Term SOFR + 2.20%) 6.469% <br>7/20/2035 <sup>(d)(e)(h)</sup>  | 39490 | 39490 |
| Black Diamond CLO, Ltd., Series 2016-1X, Class A1AR, (3-month USD CME Term SOFR + 1.292%) 5.574% <br> 4/26/2031 <sup>(d)(e)(m)</sup>  | 11222 | 11227 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, 2.443% <br> 7/15/2046 <sup>(d)(h)</sup>  | 16288 | 15294 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% <br> 7/15/2046 <sup>(d)(h)</sup>  | 2470 | 2319 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class A2, 5.05% 3/15/2029 <sup>(d)(h)</sup>  | 3454 | 3461 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class B, 5.41% 3/15/2030 <sup>(d)(h)</sup>  | 1235 | 1249 |
| BofA Auto Trust, Series 2024-1, Class A3, 5.35% 11/15/2028 <sup>(d)(h)</sup>  | 11358 | 11471 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1, 6.05% 7/15/2027 <sup>(d)(h)</sup>  | 3023 | 3047 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class A2, 5.54% 2/16/2027 <sup>(d)</sup>  | 1459 | 1460 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A2, 4.84% 9/15/2027 <sup>(d)</sup>  | 2097 | 2099 |
| Bridgecrest Lending Auto Securitization Trust, Series 2023-1, Class A3, 6.51% 11/15/2027 <sup>(d)</sup>  | 3792 | 3801 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class A3, 5.34% 4/17/2028 <sup>(d)</sup>  | 9605 | 9633 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class A3, 4.67% 8/15/2028 <sup>(d)</sup>  | 8007 | 8009 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class B, 5.43% 8/15/2028 <sup>(d)</sup>  | 2847 | 2854 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class A3, 4.72% 9/15/2028 <sup>(d)</sup>  | 6448 | 6452 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class B, 5.37% 10/16/2028 <sup>(d)</sup>  | 6126 | 6159 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class B, 4.92% 3/15/2029 <sup>(d)</sup>  | 9466 | 9498 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C, 5.65% 4/16/2029 <sup>(d)</sup>  | 2220 | 2235 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-2, Class B, 4.81% 8/15/2029 <sup>(d)</sup>  | 15155 | 15219 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class D, 5.83% 5/15/2030 <sup>(d)</sup>  | 9797 | 10006 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class B, 4.77% 8/15/2030 <sup>(d)</sup>  | 7401 | 7410 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-4, Class C, 4.83% 8/15/2030 <sup>(d)</sup>  | 11925 | 11918 |
| Business Jet Securities, LLC, Series 2024-2A, Class A, 5.364% 9/15/2039 <sup>(d)(h)</sup>  | 21596 | 21683 |
| Capital One Multi-Asset Execution Trust, Series 2022-A3, Class A, 4.95% 10/15/2027 <sup>(d)</sup>  | 4513 | 4519 |
| Capteris Equipment Finance, Series 2024-1, Class A2, 5.58% 7/20/2032 <sup>(d)(h)</sup>  | 20793 | 21086 |
| Carlyle Global Market Strategies, CLO, Series 2017-C, Class A1AR, (3-month USD CME Term SOFR + 1.292%) <br> 5.571% 4/30/2031 <sup>(d)(e)(h)</sup>  | 116 | 116 |
| CarMax Auto Owner Trust, Series 2024-2, Class A2A, 5.65% 5/17/2027 <sup>(d)</sup>  | 7679 | 7699 |
| CarMax Auto Owner Trust, Series 2024-3, Class A3, 4.89% 7/16/2029 <sup>(d)</sup>  | 37004 | 37407 |
| CarMax Select Receivables Trust, Series 2024-A, Class A2A, 5.78% 9/15/2027 <sup>(d)</sup>  | 3796 | 3809 |
| CarMax Select Receivables Trust, Series 2024-A, Class D, 6.27% 12/16/2030 <sup>(d)</sup>  | 4489 | 4627 |
| Carvana Auto Receivables Trust, Series 2024-N2, Class A2, 5.90% 8/10/2027 <sup>(d)(h)</sup>  | 1685 | 1688 |
| Carvana Auto Receivables Trust, Series 2023-N3, Class A, 6.41% 9/10/2027 <sup>(d)(h)</sup>  | 771 | 772 |
| Carvana Auto Receivables Trust, Series 2024-N1, Class A3, 5.60% 3/10/2028 <sup>(d)(h)</sup>  | 8430 | 8458 |
| Carvana Auto Receivables Trust, Series 2023-P3, Class A3, 5.82% 8/10/2028 <sup>(d)(h)</sup>  | 3973 | 4001 |
| Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/2028 <sup>(d)</sup>  | 438 | 425 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **54** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Carvana Auto Receivables Trust, Series 2021-N4, Class A2, 1.80% 9/11/2028 <sup>(d)</sup>  | USD3,026 | $2955 |
| Carvana Auto Receivables Trust, Series 2023-P5, Class A3, 5.62% 1/10/2029 <sup>(d)(h)</sup>  | 5408 | 5452 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(d)(h)</sup>  | 40408 | 37259 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class C, 3.464% 5/11/2037 <sup>(d)(h)</sup>  | 16430 | 15222 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(d)(h)</sup>  | 2476 | 2389 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(d)(h)</sup>  | 70807 | 71896 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class B, 6.504% 2/15/2050 <sup>(d)(h)</sup>  | 12477 | 12621 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(d)(h)</sup>  | 96667 | 95650 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(d)(h)</sup>  | 19812 | 18333 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(d)(h)</sup>  | 15185 | 15028 |
| CF Hippolyta, LLC, Series 2020-1, Class B2, 2.60% 7/15/2060 <sup>(d)(h)</sup>  | 1579 | 1420 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(d)(h)</sup>  | 43915 | 42273 |
| CF Hippolyta, LLC, Series 2021-1, Class B1, 1.98% 3/15/2061 <sup>(d)(h)</sup>  | 7528 | 7079 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(d)(h)</sup>  | 53198 | 53375 |
| CF Hippolyta, LLC, Series 2022-1A, Class A2, 6.11% 8/15/2062 <sup>(d)(h)</sup>  | 43496 | 43801 |
| Chase Auto Owner Trust, Series 2024-2, Class A2, 5.66% 5/26/2027 <sup>(d)(h)</sup>  | 5521 | 5534 |
| Chase Auto Owner Trust, Series 2024-4A, Class A2, 5.25% 9/27/2027 <sup>(d)(h)</sup>  | 10207 | 10231 |
| Chase Auto Owner Trust, Series 2024-3, Class A2, 5.53% 9/27/2027 <sup>(d)(h)</sup>  | 10116 | 10143 |
| Chase Auto Owner Trust, Series 2024-5A, Class A2, 4.40% 11/26/2027 <sup>(d)(h)</sup>  | 8448 | 8444 |
| Chase Auto Owner Trust, Series 2024-2, Class A3, 5.52% 6/25/2029 <sup>(d)(h)</sup>  | 29108 | 29570 |
| Chase Auto Owner Trust, Series 2024-4A, Class A3, 4.94% 7/25/2029 <sup>(d)(h)</sup>  | 35542 | 35877 |
| Chase Auto Owner Trust, Series 2024-3, Class A3, 5.22% 7/25/2029 <sup>(d)(h)</sup>  | 19285 | 19516 |
| Chesapeake Funding II, LLC, Series 2023-2, Class A1, 6.16% 10/15/2035 <sup>(d)(h)</sup>  | 3526 | 3574 |
| Chesapeake Funding II, LLC, Series 2024-1, Class A1, 5.52% 5/15/2036 <sup>(d)(h)</sup>  | 9907 | 10011 |
| Citizens Auto Receivables Trust, Series 2023-2, Class A3, 5.83% 2/15/2028 <sup>(d)(h)</sup>  | 21754 | 21919 |
| Clarus Capital Funding, LLC, Series 2024-1A, Class A2, 4.71% 8/20/2032 <sup>(d)(h)</sup>  | 5946 | 5954 |
| CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 9/15/2045 <sup>(d)(h)</sup>  | 17371 | 16173 |
| CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 9/18/2045 <sup>(d)(h)</sup>  | 17158 | 15961 |
| CLI Funding VI, LLC, Series 2020-3A, Class A, 2.07% 10/18/2045 <sup>(d)(h)</sup>  | 23489 | 21893 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 1.64% 2/18/2046 <sup>(d)(h)</sup>  | 18848 | 17304 |
| CLI Funding VIII, LLC, Series 2021-1A, Class A, 2.38% 2/18/2046 <sup>(d)(h)</sup>  | 1349 | 1236 |
| CNH Equipment Trust, Series 2024-B, Class A2A, 5.42% 10/15/2027 <sup>(d)</sup>  | 6467 | 6486 |
| CPS Auto Receivables Trust, Series 2024-A, Class A, 5.71% 9/15/2027 <sup>(d)(h)</sup>  | 706 | 706 |
| CPS Auto Receivables Trust, Series 2024-C, Class A, 5.88% 2/15/2028 <sup>(d)(h)</sup>  | 3668 | 3681 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(d)(h)</sup>  | 743 | 745 |
| CPS Auto Receivables Trust, Series 2022-B, Class C, 4.33% 8/15/2028 <sup>(d)(h)</sup>  | 3956 | 3953 |
| CPS Auto Receivables Trust, Series 2024-C, Class B, 5.68% 12/15/2028 <sup>(d)(h)</sup>  | 3027 | 3051 |
| CPS Auto Receivables Trust, Series 2024-D, Class B, 4.65% 3/15/2029 <sup>(d)(h)</sup>  | 2951 | 2951 |
| CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/2030 <sup>(d)(h)</sup>  | 13097 | 13212 |
| CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/2030 <sup>(d)(h)</sup>  | 394 | 402 |
| CPS Auto Receivables Trust, Series 2024-C, Class C, 5.76% 10/15/2030 <sup>(d)(h)</sup>  | 5048 | 5117 |
| CPS Auto Trust, Series 2025-B, Class A, 4.74% 2/15/2029 <sup>(d)(h)</sup>  | 18446 | 18454 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class A, 6.39% 8/15/2033 <sup>(d)(h)</sup>  | 7777 | 7847 |
| Crockett Partners Equipment Co. II, LLC, Series 2024-1C, Class A, 6.05% 1/20/2031 <sup>(d)(h)</sup>  | 13135 | 13285 |
| Crossroads Asset Trust, Series 2024-A, Class A2, 5.90% 8/20/2030 <sup>(d)(h)</sup>  | 5301 | 5367 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A2, 5.60% 4/15/2026 <sup>(d)</sup>  | 2465 | 2468 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A3, 5.49% 12/15/2027 <sup>(d)</sup>  | 30293 | 30621 |
| Dell Equipment Finance Trust, Series 2024-2, Class A3, 4.59% 8/22/2030 <sup>(d)(h)</sup>  | 6096 | 6137 |
| DLLAD, LLC, Series 2024-1, Class A2, 5.50% 8/20/2027 <sup>(d)(h)</sup>  | 3814 | 3832 |
| DLLAD, LLC, Series 2024-1, Class A3, 5.30% 7/20/2029 <sup>(d)(h)</sup>  | 8835 | 9019 |
| DLLAD, LLC, Series 2024-1, Class A4, 5.38% 9/22/2031 <sup>(d)(h)</sup>  | 1929 | 1998 |
| Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.35% 2/15/2028 <sup>(d)</sup>  | 3418 | 3422 |
| Drive Auto Receivables Trust, Series 2024-2, Class A3, 4.50% 9/15/2028 <sup>(d)</sup>  | 7110 | 7108 |
| Drive Auto Receivables Trust, Series 2024-1, Class B, 5.31% 1/16/2029 <sup>(d)</sup>  | 8538 | 8573 |
| Drive Auto Receivables Trust, Series 2024-1, Class C, 5.43% 11/17/2031 <sup>(d)</sup>  | 6146 | 6235 |
| DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/2027 <sup>(d)(h)</sup>  | 607 | 605 |
| DriveTime Auto Owner Trust, Series 2023-3, Class A, 6.29% 8/16/2027 <sup>(d)(h)</sup>  | 213 | 213 |
| Dryden Senior Loan Fund, CLO, Series 2016-45A, Class A1RR, (3-month USD CME Term SOFR + 1.08%) 5.336% <br> 10/15/2030 <sup>(d)(e)(h)</sup>  | 11529 | 11529 |
| Dryden Senior Loan Fund, CLO, Series 2015-37, Class AR, (3-month USD CME Term SOFR + 1.362%) 5.618% <br> 1/15/2031 <sup>(d)(e)(h)</sup>  | 2518 | 2520 |
| Dryden Senior Loan Fund, CLO, Series 2015-41, Class AR, (3-month USD CME Term SOFR + 1.232%) 5.488% <br> 4/15/2031 <sup>(d)(e)(h)</sup>  | 1737 | 1739 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(d)(h)</sup>  | 4543 | 4174 |
| Enterprise Fleet Financing, LLC, Series 2024-2, Class A2, 5.74% 12/20/2026 <sup>(d)(h)</sup>  | 2846 | 2859 |
| Enterprise Fleet Financing, LLC, Series 2024-3, Class A2, 5.31% 4/20/2027 <sup>(d)(h)</sup>  | 18485 | 18562 |
| Enterprise Fleet Financing, LLC, Series 2024-4, Class A2, 4.69% 7/20/2027 <sup>(d)(h)</sup>  | 8057 | 8070 |

---

---

| | |
|:---|:---|
| **55** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A3, 4.29% 7/20/2029 <sup>(d)(h)</sup>  | USD7,766 | $7759 |
| Enterprise Fleet Financing, LLC, Series 2022-3, Class A2, 4.38% 7/20/2029 <sup>(d)(h)</sup>  | 4562 | 4558 |
| Enterprise Fleet Financing, LLC, Series 2022-4, Class A2, 5.76% 10/22/2029 <sup>(d)(h)</sup>  | 9762 | 9802 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A2, 5.23% 3/20/2030 <sup>(d)(h)</sup>  | 6454 | 6502 |
| Enterprise Fleet Financing, LLC, Series 2024-1, Class A3, 5.16% 9/20/2030 <sup>(d)(h)</sup>  | 4751 | 4844 |
| Enterprise Fleet Financing, LLC, Series 2024-2, Class A4, 5.69% 12/20/2030 <sup>(d)(h)</sup>  | 6047 | 6257 |
| EquipmentShare, Series 2024-2M, Class A, 5.70% 12/20/2032 <sup>(d)(h)</sup>  | 39847 | 40479 |
| EquipmentShare, Series 2024-2M, Class B, 6.43% 12/20/2032 <sup>(d)(h)</sup>  | 2157 | 2189 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(d)(h)</sup>  | 14618 | 14724 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class C, 5.53% 5/15/2029 <sup>(d)(h)</sup>  | 956 | 965 |
| Exeter Automobile Receivables Trust, Series 2024-3A, Class A2, 5.82% 2/15/2027 <sup>(d)</sup>  | 424 | 425 |
| Exeter Automobile Receivables Trust, Series 2021-2, Class D, 1.40% 4/15/2027 <sup>(d)</sup>  | 9531 | 9378 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class A3, 5.31% 8/16/2027 <sup>(d)</sup>  | 667 | 667 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A2, 4.70% 9/15/2027 <sup>(d)</sup>  | 7250 | 7251 |
| Exeter Automobile Receivables Trust, Series 2024-5, Class A3, 4.45% 3/15/2028 <sup>(d)</sup>  | 6875 | 6863 |
| Exeter Automobile Receivables Trust, Series 2024-2A, Class B, 5.61% 4/17/2028 <sup>(d)</sup>  | 7847 | 7864 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class C, 6.21% 6/15/2028 <sup>(d)</sup>  | 2138 | 2153 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028 <sup>(d)</sup>  | 5159 | 5142 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A3, 4.67% 8/15/2028 <sup>(d)</sup>  | 6808 | 6819 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class B, 5.29% 8/15/2028 <sup>(d)</sup>  | 5825 | 5838 |
| Exeter Automobile Receivables Trust, Series 2022-4A, Class C, 4.92% 12/15/2028 <sup>(d)</sup>  | 2257 | 2258 |
| Exeter Automobile Receivables Trust, Series 2024-5, Class B, 4.48% 4/16/2029 <sup>(d)</sup>  | 6250 | 6246 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class D, 6.68% 4/16/2029 <sup>(d)</sup>  | 3884 | 3968 |
| Exeter Automobile Receivables Trust, Series 2024-3A, Class C, 5.70% 7/16/2029 <sup>(d)</sup>  | 7232 | 7320 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class B, 4.91% 8/15/2029 <sup>(d)</sup>  | 25639 | 25812 |
| Exeter Automobile Receivables Trust, Series 2025-2A, Class B, 4.92% 9/17/2029 <sup>(d)</sup>  | 8879 | 8944 |
| Exeter Automobile Receivables Trust, Series 2024-5, Class C, 4.64% 1/15/2030 <sup>(d)</sup>  | 9082 | 9097 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class C, 5.41% 5/15/2030 <sup>(d)</sup>  | 6028 | 6078 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class D, 5.84% 6/17/2030 <sup>(d)</sup>  | 9760 | 9954 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class B, 5.29% 8/15/2030 <sup>(d)</sup>  | 8067 | 8119 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class C, 5.48% 8/15/2030 <sup>(d)</sup>  | 7612 | 7702 |
| Exeter Automobile Receivables Trust, Series 2024-3A, Class D, 5.98% 9/16/2030 <sup>(d)</sup>  | 9492 | 9713 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class D, 5.81% 12/16/2030 <sup>(d)</sup>  | 13416 | 13706 |
| Exeter Automobile Receivables Trust, Series 2024-5, Class D, 5.06% 2/18/2031 <sup>(d)</sup>  | 9878 | 9894 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class C, 5.09% 5/15/2031 <sup>(d)</sup>  | 34257 | 34634 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class D, 5.49% 5/15/2031 <sup>(d)</sup>  | 26811 | 27345 |
| First Investors Auto Owner Trust, Series 2023-1A, Class A, 6.44% 10/16/2028 <sup>(d)(h)</sup>  | 8367 | 8448 |
| First National Master Note Trust, Series 2025-1, Class A, 4.85% 2/15/2030 <sup>(d)</sup>  | 20870 | 21252 |
| First National Master Note Trust, Series 2024-1, Class A, 5.34% 5/15/2030 <sup>(d)</sup>  | 22257 | 22716 |
| FirstKey Homes Trust, Series 2020-SFR1, Class A, 1.339% 9/17/2025 <sup>(d)(h)</sup>  | 20127 | 19983 |
| FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 10/19/2037 <sup>(d)(h)</sup>  | 26200 | 25869 |
| FirstKey Homes Trust, Series 2021-SFR3, Class A, 2.135% 12/17/2038 <sup>(d)(h)</sup>  | 3731 | 3606 |
| FirstKey Homes Trust, Series 2022-SFR2, Class A, 4.145% 5/17/2039 <sup>(d)(h)</sup>  | 14453 | 14363 |
| Flagship Credit Auto Trust, Series 2023-3, Class A3, 5.44% 4/17/2028 <sup>(d)(h)</sup>  | 5639 | 5652 |
| Flagship Credit Auto Trust, Series 2024-1, Class B, 5.63% 4/16/2029 <sup>(d)(h)</sup>  | 5851 | 5938 |
| Flagship Credit Auto Trust, Series 2023-3, Class C, 6.01% 7/16/2029 <sup>(d)(h)</sup>  | 1955 | 1992 |
| Flagship Credit Auto Trust, Series 2023-3, Class D, 6.58% 8/15/2029 <sup>(d)(h)</sup>  | 990 | 997 |
| Flagship Credit Auto Trust, Series 2024-1, Class C, 5.79% 2/15/2030 <sup>(d)(h)</sup>  | 5000 | 5098 |
| Flatiron CLO, Ltd., Series 2024-1, Class A1, (3-month USD CME Term SOFR + 1.32%) 5.576% 7/15/2036 <sup>(d)(e)(h)</sup>  | 15864 | 15888 |
| Ford Credit Auto Lease Trust, Series 2024-A, Class A3, 5.06% 5/15/2027 <sup>(d)</sup>  | 10741 | 10764 |
| Ford Credit Auto Lease Trust, Series 2024-A, Class A4, 5.05% 6/15/2027 <sup>(d)</sup>  | 1989 | 2003 |
| Ford Credit Auto Owner Trust, Series 2023-2, Class A, 5.28% 2/15/2036 <sup>(d)(h)</sup>  | 26615 | 27440 |
| Ford Credit Auto Owner Trust, Series 2024-1, Class A, 4.87% 8/15/2036 <sup>(d)(e)(h)</sup>  | 61000 | 62241 |
| Ford Credit Floorplan Master Owner Trust, Series 2024-3, Class A1, 4.30% 9/15/2029 <sup>(d)(h)</sup>  | 13105 | 13139 |
| Fortress Credit BSL, Ltd., Series 2019-2A, Class A1AR, (3-month USD CME Term SOFR + 1.05%) 5.319% <br>10/20/2032 <sup>(d)(e)(h)</sup>  | 8568 | 8564 |
| GCI Funding I, LLC, Series 2020-1, Class A, 2.82% 10/18/2045 <sup>(d)(h)</sup>  | 12724 | 11998 |
| GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/2045 <sup>(d)(h)</sup>  | 1753 | 1655 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(d)(h)</sup>  | 2876 | 2646 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039 <sup>(d)(h)</sup>  | 7694 | 7473 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(d)(h)</sup>  | 37947 | 36190 |
| Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 10/17/2040 <sup>(d)(h)</sup>  | 991 | 954 |
| Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 11/19/2040 <sup>(d)(h)</sup>  | 54271 | 51833 |
| Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 4/17/2041 <sup>(d)(h)</sup>  | 56477 | 52297 |
| Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 8/17/2041 <sup>(d)(h)</sup>  | 64280 | 59959 |
| Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/2041 <sup>(d)(h)</sup>  | 4162 | 3855 |
| GLS Auto Receivables Trust, Series 2024-3A, Class A2, 5.35% 8/16/2027 <sup>(d)(h)</sup>  | 2836 | 2840 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **56** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| GLS Auto Receivables Trust, Series 2024-2, Class A3, 5.64% 1/18/2028 <sup>(d)(h)</sup>  | USD2,976 | $2987 |
| GLS Auto Receivables Trust, Series 2024-4A, Class A3, 4.75% 7/17/2028 <sup>(d)(h)</sup>  | 2763 | 2770 |
| GLS Auto Receivables Trust, Series 2024-1, Class B, 5.49% 7/17/2028 <sup>(d)(h)</sup>  | 7143 | 7175 |
| GLS Auto Receivables Trust, Series 2024-2, Class B, 5.77% 11/15/2028 <sup>(d)(h)</sup>  | 8588 | 8674 |
| GLS Auto Receivables Trust, Series 2024-3A, Class B, 5.08% 1/16/2029 <sup>(d)(h)</sup>  | 6394 | 6424 |
| GLS Auto Receivables Trust, Series 2024-4A, Class B, 4.89% 4/16/2029 <sup>(d)(h)</sup>  | 8920 | 8958 |
| GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/2029 <sup>(d)(h)</sup>  | 2414 | 2438 |
| GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/2029 <sup>(d)(h)</sup>  | 2182 | 2236 |
| GLS Auto Receivables Trust, Series 2025-1A, Class B, 4.98% 7/16/2029 <sup>(d)(h)</sup>  | 9026 | 9094 |
| GLS Auto Receivables Trust, Series 2025-2A, Class B, 4.97% 10/15/2029 <sup>(d)(h)</sup>  | 16572 | 16728 |
| GLS Auto Receivables Trust, Series 2024-1, Class C, 5.64% 12/17/2029 <sup>(d)(h)</sup>  | 5212 | 5278 |
| GLS Auto Receivables Trust, Series 2024-1, Class D, 5.95% 12/17/2029 <sup>(d)(h)</sup>  | 3347 | 3418 |
| GLS Auto Receivables Trust, Series 2024-2, Class C, 6.03% 2/15/2030 <sup>(d)(h)</sup>  | 11932 | 12159 |
| GLS Auto Receivables Trust, Series 2024-4A, Class C, 5.10% 6/17/2030 <sup>(d)(h)</sup>  | 11421 | 11526 |
| GLS Auto Receivables Trust, Series 2024-4A, Class D, 5.65% 7/15/2030 <sup>(d)(h)</sup>  | 13143 | 13369 |
| GLS Auto Receivables Trust, Series 2024-3A, Class C, 5.21% 2/18/2031 <sup>(d)(h)</sup>  | 5987 | 6054 |
| GLS Auto Select Receivables Trust, Series 2023-2A, Class A2, 6.37% 6/15/2028 <sup>(d)(h)</sup>  | 4955 | 4993 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class A2, 4.43% 12/17/2029 <sup>(d)(h)</sup>  | 6771 | 6769 |
| GLS Auto Select Receivables Trust, Series 2024-1, Class A2, 5.24% 3/15/2030 <sup>(d)(h)</sup>  | 4920 | 4949 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class A2, 4.71% 4/15/2030 <sup>(d)(h)</sup>  | 9755 | 9781 |
| GLS Auto Select Receivables Trust, Series 2024-2, Class A2, 5.58% 6/17/2030 <sup>(d)(h)</sup>  | 7300 | 7372 |
| GLS Auto Select Receivables Trust, Series 2025-3A, Class A2, 4.46% 10/15/2030 <sup>(d)(h)</sup>  | 6560 | 6563 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class C, 5.26% 3/15/2031 <sup>(d)(h)</sup>  | 1021 | 1040 |
| GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/2026 <sup>(d)</sup>  | 8491 | 8506 |
| GM Financial Revolving Receivables Trust, Series 2022-1, Class A, 5.91% 10/11/2035 <sup>(d)(h)</sup>  | 22705 | 23566 |
| GM Financial Revolving Receivables Trust, Series 2023-2, Class A, 5.77% 8/11/2036 <sup>(d)(h)</sup>  | 38047 | 39852 |
| GM Financial Revolving Receivables Trust, Series 2024-2, Class A, 4.52% 3/11/2037 <sup>(d)(h)</sup>  | 61215 | 61657 |
| GM Financial Securitized Term Auto Receivables Trust, Series 2024-1, Class A3, 4.85% 12/18/2028 <sup>(d)</sup>  | 9490 | 9540 |
| GMF Floorplan Owner Revolving Trust, Series 2023-1, Class A1, 5.34% 6/15/2028 <sup>(d)(h)</sup>  | 17626 | 17798 |
| GMF Floorplan Owner Revolving Trust, Series 2024-1, Class A1, 5.13% 3/15/2029 <sup>(d)(h)</sup>  | 8150 | 8275 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class A2, (3-month USD CME Term SOFR + 1.55%) 5.819% <br> 4/20/2033 <sup>(d)(e)(h)</sup>  | 9610 | 9610 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class C, (3-month USD CME Term SOFR + 2.30%) 6.569% <br> 4/20/2033 <sup>(d)(e)(h)</sup>  | 6983 | 6983 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class AR, (3-month USD CME Term SOFR + 1.12%) 5.422% <br> 7/20/2035 <sup>(d)(e)(h)</sup>  | 9928 | 9935 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class CR, (3-month USD CME Term SOFR + 1.65%) 5.952% <br> 7/20/2035 <sup>(d)(e)(h)</sup>  | 5252 | 5265 |
| GreatAmerica Leasing Receivables, Series 2025-1, Class A2, 4.52% 10/15/2027 <sup>(d)(h)</sup>  | 3582 | 3588 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 2024-2, Class A3, 5.00% 9/15/2028 <sup>(d)(h)</sup>  | 20434 | 20687 |
| GreatAmerica Leasing Receivables Funding, LLC, Series 24-2, Class A4, 5.02% 5/15/2031 <sup>(d)(h)</sup>  | 17190 | 17511 |
| GT Loan Financing, Ltd., Series 2013-1, Class AR, (3-month USD CME Term SOFR + 1.362%) 5.644% <br>7/28/2031 <sup>(d)(e)(h)</sup>  | 677 | 678 |
| Harbor Park CLO, Ltd., Series 2018-1, Class CR, (3-month USD CME Term SOFR + 2.05%) 6.319% <br>1/20/2031 <sup>(d)(e)(h)</sup>  | 6140 | 6148 |
| Hertz Vehicle Financing III, LLC, Series 2022-4A, Class A, 3.73% 9/25/2026 <sup>(d)(h)</sup>  | 21455 | 21424 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class A, 5.49% 6/25/2027 <sup>(d)(h)</sup>  | 9146 | 9196 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class A, 2.33% 6/26/2028 <sup>(d)(h)</sup>  | 49550 | 47626 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class B, 2.65% 6/26/2028 <sup>(d)(h)</sup>  | 8792 | 8392 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class C, 2.95% 6/26/2028 <sup>(d)(h)</sup>  | 5075 | 4816 |
| Hertz Vehicle Financing III, LLC, Series 2022-5A, Class A, 3.89% 9/25/2028 <sup>(d)(h)</sup>  | 22138 | 21844 |
| Hertz Vehicle Financing III, LLC, Series 2023-4, Class A, 6.15% 3/25/2030 <sup>(d)(h)</sup>  | 18253 | 19067 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(d)(h)</sup>  | 111172 | 106963 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(d)(h)</sup>  | 14511 | 13885 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(d)(h)</sup>  | 7776 | 7461 |
| Hertz Vehicle Financing, LLC, Series 2023-3A, Class A, 5.94% 2/25/2028 <sup>(d)(h)</sup>  | 14231 | 14470 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(d)(h)</sup>  | 30334 | 30834 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(d)(h)</sup>  | 6543 | 6575 |
| Honda Auto Receivables Owner Trust, Series 2023-1, Class A3, 5.04% 4/21/2027 <sup>(d)</sup>  | 3016 | 3024 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(d)(h)</sup>  | 30274 | 30345 |
| HPEFS Equipment Trust, Series 2024-2, Class B, 5.35% 10/20/2031 <sup>(d)(h)</sup>  | 2565 | 2595 |
| HPEFS Equipment Trust, Series 2024-2, Class A3, 5.36% 10/20/2031 <sup>(d)(h)</sup>  | 7453 | 7513 |
| Hyundai Auto Lease Securitization Trust, Series 2024-A, Class A4, 5.07% 2/15/2028 <sup>(d)(h)</sup>  | 3028 | 3048 |
| Hyundai Auto Receivables Trust, Series 2024-A, Class A3, 4.99% 2/15/2029 <sup>(d)</sup>  | 13551 | 13678 |
| Invitation Homes Trust, Series 2024-SFR1, Class B, 4.00% 9/17/2041 <sup>(d)(h)</sup>  | 5767 | 5556 |
| Jamestown CLO, Ltd., Series 2019-1, Class A1R, (3-month USD CME Term SOFR + 1.20%) 5.469% <br>4/20/2032 <sup>(d)(e)(h)</sup>  | 11048 | 11055 |

---

---

| | |
|:---|:---|
| **57** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Jamestown CLO, Ltd., Series 2019-1, Class A2AR, (3-month USD CME Term SOFR + 1.65%) 5.919% <br>4/20/2032 <sup>(d)(e)(h)</sup>  | USD15,000 | $15010 |
| Jamestown CLO, Ltd., Series 2019-1, Class A2BR, (3-month USD CME Term SOFR + 1.85%) 6.119% <br>4/20/2032 <sup>(d)(e)(h)</sup>  | 7652 | 7674 |
| John Deere Owner Trust, Series 2024-A, Class A3, 4.96% 11/15/2028 <sup>(d)</sup>  | 12300 | 12420 |
| Juniper Valley Park CLO, Ltd., Series 2023-1, Class AR, (3-month USD CME Term SOFR + 1.25%) 5.519% <br> 7/20/2036 <sup>(d)(e)(h)</sup>  | 14946 | 14969 |
| KKR Financial CLO, Ltd., Series 11, Class AR, (3-month USD CME Term SOFR + 1.442%) 5.698% 1/15/2031 <sup>(d)(e)(h)</sup>  | 879 | 880 |
| KKR Financial CLO, Ltd., Series 38, Class A1, (3-month USD CME Term SOFR + 1.32%) 5.576% 4/15/2033 <sup>(d)(e)(h)</sup>  | 16000 | 16039 |
| LAD Auto Receivables Trust, Series 2022-1, Class A, 5.21% 6/15/2027 <sup>(d)(h)</sup>  | 300 | 301 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A2, 4.64% 11/15/2027 <sup>(d)(h)</sup>  | 6972 | 6971 |
| LAD Auto Receivables Trust, Series 2023-4, Class A3, 6.10% 12/15/2027 <sup>(d)(h)</sup>  | 10153 | 10198 |
| LAD Auto Receivables Trust, Series 2024-1, Class A3, 5.23% 1/18/2028 <sup>(d)(h)</sup>  | 1498 | 1501 |
| LAD Auto Receivables Trust, Series 2023-2, Class A3, 5.42% 2/15/2028 <sup>(d)(h)</sup>  | 13430 | 13457 |
| LAD Auto Receivables Trust, Series 2024-2, Class A3, 5.61% 8/15/2028 <sup>(d)(h)</sup>  | 19645 | 19800 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A3, 4.52% 3/15/2029 <sup>(d)(h)</sup>  | 7194 | 7213 |
| LAD Auto Receivables Trust, Series 2024-3A, Class A4, 4.60% 12/17/2029 <sup>(d)(h)</sup>  | 2219 | 2235 |
| LCM, LP, Series 2027, Class A1, (3-month USD CME Term SOFR + 1.342%) 5.602% 7/16/2031 <sup>(d)(e)(h)</sup>  | 8705 | 8710 |
| Lendbuzz Securitization Trust, Series 2025-1A, Class A2, 5.10% 10/15/2030 <sup>(d)(h)</sup>  | 3695 | 3709 |
| Madison Park Funding, Ltd., CLO, Series 2017-23A, Class AR, (3-month USD CME Term SOFR + 1.232%) 5.514% <br> 7/27/2031 <sup>(d)(e)(h)</sup>  | 823 | 823 |
| Magnetite CLO, Ltd., Series 2019-22, Class ARR, (3-month USD CME Term SOFR + 1.25%) 5.506% <br>7/15/2036 <sup>(d)(e)(h)</sup>  | 13393 | 13406 |
| Marathon CLO, Ltd., Series 2019-2A, Class A1R2, (3-month USD CME Term SOFR + 0.95%) 5.219% <br>1/20/2033 <sup>(d)(e)(h)</sup>  | 98295 | 97873 |
| Marble Point CLO, Ltd., Series 2018-2, Class A12R, (3-month USD CME Term SOFR + 1.20%) 5.469% <br>1/20/2032 <sup>(d)(e)(h)</sup>  | 22679 | 22710 |
| Marble Point CLO, Ltd., Series 2019-1A, Class A1R2, (3-month USD CME Term SOFR + 1.04%) 5.319% <br>7/23/2032 <sup>(d)(e)(h)</sup>  | 26390 | 26365 |
| Mercedes-Benz Auto Lease Trust, Series 2024-A, Class A3, 5.32% 1/18/2028 <sup>(d)</sup>  | 4770 | 4830 |
| Merchants Fleet Funding, LLC, Series 2023-1, Class A, 7.21% 5/20/2036 <sup>(d)(h)</sup>  | 9970 | 10053 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(d)(h)</sup>  | 5253 | 5289 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(d)(h)</sup>  | 3233 | 3263 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(d)(h)</sup>  | 2595 | 2616 |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(d)(h)</sup>  | 13294 | 13379 |
| Navient Student Loan Trust, Series 2021-CA, Class A, 1.06% 10/15/2069 <sup>(d)(h)</sup>  | 18729 | 16870 |
| Navient Student Loan Trust, Series 2021-G, Class A, 1.58% 4/15/2070 <sup>(d)(h)</sup>  | 19553 | 17682 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(d)(h)</sup>  | 52179 | 48842 |
| Nelnet Student Loan Trust, Series 2021-CA, Class AFX, 1.32% 4/20/2062 <sup>(d)(h)</sup>  | 36609 | 34249 |
| Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/2062 <sup>(d)(h)</sup>  | 20552 | 19342 |
| Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/2062 <sup>(d)(h)</sup>  | 34773 | 32539 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(d)(h)</sup>  | 230961 | 217634 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class B1, 2.41% 10/20/2061 <sup>(d)(h)</sup>  | 3958 | 3635 |
| Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) 5.513% <br>7/25/2030 <sup>(d)(e)(h)</sup>  | 10605 | 10612 |
| Nissan Auto Receivables Owner Trust, Series 2023-B, Class A3, 5.93% 3/15/2028 <sup>(d)</sup>  | 8539 | 8608 |
| NMEF Funding, LLC, Series 2024-A, Class A2, 5.15% 12/15/2031 <sup>(d)(h)</sup>  | 10576 | 10628 |
| NMEF Funding, LLC, Series 2025-A, Class A2, 4.72% 7/15/2032 <sup>(d)(h)</sup>  | 9013 | 9022 |
| Octagon Investment Partners, Ltd., CLO, Series 2018-18X, Class A1A, (3-month USD CME Term SOFR + 1.222%) <br> 5.482% 4/16/2031 <sup>(d)(e)(m)</sup>  | 1027 | 1027 |
| OnDeck Asset Securitization Trust, LLC, Series 2023-1A, Class B, 8.25% 8/19/2030 <sup>(d)(h)</sup>  | 6822 | 6872 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(d)(h)</sup>  | 12238 | 12390 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class A, 5.08% 4/19/2032 <sup>(d)(h)</sup>  | 8928 | 8917 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class B, 5.52% 4/19/2032 <sup>(d)(h)</sup>  | 2030 | 2025 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A1, (3-month USD CME Term SOFR + 1.062%) 5.318% <br> 10/15/2029 <sup>(d)(e)(h)</sup>  | 6710 | 6709 |
| Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD CME Term SOFR + 1.662%) 5.918% <br> 10/15/2029 <sup>(d)(e)(h)</sup>  | 44195 | 44233 |
| Palmer Square Loan Funding, Ltd., Series 2022-4A, Class A1RN, (3-month USD CME Term SOFR + 1.00%) 5.275% <br> 7/24/2031 <sup>(d)(e)(h)</sup>  | 3821 | 3822 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class A1N, (3-month USD CME Term SOFR + 1.00%) 5.256% <br> 1/15/2033 <sup>(d)(e)(h)</sup>  | 43073 | 43004 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class A2, (3-month USD CME Term SOFR + 1.45%) 5.706% <br> 1/15/2033 <sup>(d)(e)(h)</sup>  | 21286 | 21284 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class B, (3-month USD CME Term SOFR + 1.70%) 5.956% <br> 1/15/2033 <sup>(d)(e)(h)</sup>  | 6000 | 5995 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **58** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Palmer Square Loan Funding, Ltd., CLO, Series 2022-3, Class A1AR, (3-month USD CME Term SOFR + 1.10%) <br> 5.356% 4/15/2031 <sup>(d)(e)(h)</sup>  | USD5,408 | $5408 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A2, 4.74% 4/20/2027 <sup>(d)(h)</sup>  | 4814 | 4817 |
| PEAC Solutions Receivables, LLC, Series 2024-1A, Class A2, 5.79% 6/21/2027 <sup>(d)(h)</sup>  | 12958 | 13062 |
| PEAC Solutions Receivables, LLC, Series 2025-1A, Class A2, 4.94% 10/20/2028 <sup>(d)(h)</sup>  | 8845 | 8881 |
| PEAC Solutions Receivables, LLC, Series 2024-2A, Class A3, 4.65% 10/20/2031 <sup>(d)(h)</sup>  | 3805 | 3822 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027 <sup>(d)(h)</sup>  | 2116 | 2115 |
| PFS Financing Corp., Series 2022-D, Class B, 4.90% 8/16/2027 <sup>(d)(h)</sup>  | 1294 | 1294 |
| PFS Financing Corp., Series 2023-D, Class A, (30-day Average USD-SOFR + 1.15%) 5.454% 8/16/2027 <sup>(d)(e)(h)</sup>  | 11885 | 11895 |
| PFS Financing Corp., Series 2024-A, Class A, (30-day Average USD-SOFR + 0.85%) 5.162% 1/15/2028 <sup>(d)(e)(h)</sup>  | 14516 | 14543 |
| PFS Financing Corp., Series 2024-C, Class A, (30-day Average USD-SOFR + 0.80%) 5.104% 4/17/2028 <sup>(d)(e)(h)</sup>  | 15000 | 15035 |
| PFS Financing Corp., Series 2023-B, Class A, 5.27% 5/15/2028 <sup>(d)(h)</sup>  | 36810 | 37061 |
| PFS Financing Corp., Series 2024-D, Class A, 5.34% 4/16/2029 <sup>(d)(h)</sup>  | 9986 | 10165 |
| PG&E Recovery Funding, LLC, Series 2024-A, Class A1, 4.838% 6/1/2033 <sup>(d)</sup>  | 15876 | 15978 |
| PG&E Wildfire Recovery Funding, LLC, Series 2022-A, Class A2, 4.263% 6/1/2036 <sup>(d)</sup>  | 13836 | 13065 |
| Pikes Peak CLO, Series 2020-6A, Class ARR, (3-month USD CME Term SOFR + 0.94%) 5.264% 5/18/2034 <sup>(d)(e)(h)</sup>  | 5125 | 5121 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class A1, 5.842% 9/15/2039 <sup>(d)(h)</sup>  | 7522 | 7625 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class AF, (1-month USD CME Term SOFR + 0%) 6.012% <br>9/15/2039 <sup>(d)(e)(h)</sup>  | 4091 | 4097 |
| PK ALIFT Loan Funding 4, LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(d)(h)</sup>  | 10992 | 10971 |
| Porsche Innovative Lease Owner Trust, Series 2024-1, Class A2A, 4.84% 1/20/2027 <sup>(d)(h)</sup>  | 9757 | 9767 |
| Porsche Innovative Lease Owner Trust, Series 2024-2A, Class A3, 4.35% 10/20/2027 <sup>(d)(h)</sup>  | 6547 | 6550 |
| Porsche Innovative Lease Owner Trust, Series 2024-1, Class A3, 4.67% 11/22/2027 <sup>(d)(h)</sup>  | 12218 | 12259 |
| Porsche Innovative Lease Owner Trust, Series 2024-2A, Class A4, 4.26% 9/20/2030 <sup>(d)(h)</sup>  | 4938 | 4933 |
| Post Road Equipment Finance, Series 2024-1, Class A2, 5.59% 11/15/2029 <sup>(d)(h)</sup>  | 1652 | 1661 |
| Post Road Equipment Finance, Series 2025-1A, Class A2, 4.90% 5/15/2031 <sup>(d)(h)</sup>  | 9540 | 9599 |
| Prestige Auto Receivables Trust, Series 2024-2, Class B, 4.56% 2/15/2029 <sup>(d)(h)</sup>  | 3815 | 3808 |
| Prestige Auto Receivables Trust, Series 2024-1, Class C, 5.73% 3/15/2029 <sup>(d)(h)</sup>  | 2983 | 3013 |
| Prestige Auto Receivables Trust, Series 2024-1, Class D, 6.21% 2/15/2030 <sup>(d)(h)</sup>  | 1690 | 1726 |
| Prosper Marketplace Issuance Trust, Series 2024-1, Class A, 6.12% 8/15/2029 <sup>(d)(h)</sup>  | 409 | 409 |
| Race Point CLO, Ltd., Series 2015-9A, Class A1A2, (3-month USD CME Term SOFR + 1.202%) 5.458% <br>10/15/2030 <sup>(d)(e)(h)</sup>  | 9542 | 9542 |
| RAD CLO, Ltd., Series 2020-7, Class A1R, (3-month USD CME Term SOFR + 1.35%) 5.63% 4/17/2036 <sup>(d)(e)(h)</sup>  | 15000 | 15023 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(d)(h)</sup>  | 1569 | 1573 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class A, 5.38% 11/25/2030 <sup>(d)(h)</sup>  | 1357 | 1357 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class B, 6.58% 11/25/2030 <sup>(d)(h)</sup>  | 7592 | 7623 |
| RR, Ltd., CLO, Series 2020-8, Class A1R, (3-month USD CME Term SOFR + 1.35%) 5.606% 7/15/2037 <sup>(d)(e)(h)</sup>  | 12963 | 12998 |
| Santander Drive Auto Receivables Trust, Series 2021-2, Class D, 1.35% 7/15/2027 <sup>(d)</sup>  | 1188 | 1187 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(d)</sup>  | 7882 | 7890 |
| Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 9/15/2027 <sup>(d)</sup>  | 2170 | 2161 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class A2, 5.80% 9/15/2027 <sup>(d)</sup>  | 3133 | 3135 |
| Santander Drive Auto Receivables Trust, Series 2023-3, Class A3, 5.61% 10/15/2027 <sup>(d)</sup>  | 3797 | 3802 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/2028 <sup>(d)</sup>  | 1882 | 1888 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.25% 4/17/2028 <sup>(d)</sup>  | 3657 | 3663 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class A3, 5.73% 4/17/2028 <sup>(d)</sup>  | 9092 | 9118 |
| Santander Drive Auto Receivables Trust, Series 2023-6, Class A3, 5.93% 7/17/2028 <sup>(d)</sup>  | 6364 | 6397 |
| Santander Drive Auto Receivables Trust, Series 2023-5, Class A3, 6.02% 9/15/2028 <sup>(d)</sup>  | 12224 | 12276 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/16/2028 <sup>(d)</sup>  | 4051 | 4050 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class A3, 4.62% 11/15/2028 <sup>(d)</sup>  | 5797 | 5804 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class A3, 5.63% 11/15/2028 <sup>(d)</sup>  | 22393 | 22515 |
| Santander Drive Auto Receivables Trust, Series 2023-4, Class B, 5.77% 12/15/2028 <sup>(d)</sup>  | 20096 | 20365 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A3, 4.85% 1/16/2029 <sup>(d)</sup>  | 44712 | 44850 |
| Santander Drive Auto Receivables Trust, Series 2024-3, Class A3, 5.63% 1/16/2029 <sup>(d)</sup>  | 6102 | 6134 |
| Santander Drive Auto Receivables Trust, Series 2024-2, Class B, 5.78% 7/16/2029 <sup>(d)</sup>  | 12138 | 12333 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class B, 4.93% 9/17/2029 <sup>(d)</sup>  | 8547 | 8611 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class C, 5.45% 3/15/2030 <sup>(d)</sup>  | 1407 | 1424 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class C, 4.95% 4/15/2030 <sup>(d)</sup>  | 9491 | 9554 |
| Santander Drive Auto Receivables Trust, Series 2023-3, Class C, 5.77% 11/15/2030 <sup>(d)</sup>  | 10034 | 10199 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class C, 4.78% 1/15/2031 <sup>(d)</sup>  | 6376 | 6406 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class D, 5.32% 12/15/2031 <sup>(d)</sup>  | 13412 | 13566 |
| Santander Drive Auto Receivables Trust, Series 2024-5, Class D, 5.14% 2/17/2032 <sup>(d)</sup>  | 12336 | 12457 |
| Saratoga Investment Corp. CLO, Ltd., Series 2013-1A, Class A1R4, (3-month USD CME Term SOFR + 1.30%) <br> 5.569% 4/20/2033 <sup>(d)(e)(h)</sup>  | 21268 | 21276 |
| SBNA Auto Lease Trust, Series 2024-A, Class A3, 5.39% 11/20/2026 <sup>(d)(h)</sup>  | 20119 | 20169 |
| SBNA Auto Lease Trust, Series 2024-B, Class A2, 5.67% 11/20/2026 <sup>(d)(h)</sup>  | 1113 | 1115 |
| SBNA Auto Lease Trust, Series 2024-B, Class A3, 5.56% 11/22/2027 <sup>(d)(h)</sup>  | 10635 | 10725 |
| SBNA Auto Lease Trust, Series 2024-C, Class A3, 4.56% 2/22/2028 <sup>(d)(h)</sup>  | 3902 | 3911 |

---

---

| | |
|:---|:---|
| **59** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| SCF Equipment Leasing, LLC, Series 2024-1A, Class A2, 5.88% 11/20/2029 <sup>(d)(h)</sup>  | USD4,364 | $4395 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class A2, 4.82% 7/22/2030 <sup>(d)(h)</sup>  | 6374 | 6390 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class B, 5.23% 9/20/2034 <sup>(d)(h)</sup>  | 4434 | 4543 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class C, 5.37% 9/20/2034 <sup>(d)(h)</sup>  | 4885 | 5009 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(d)(h)</sup>  | 1325 | 1336 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class B, 4.98% 12/29/2032 <sup>(d)(h)</sup>  | 5743 | 5763 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A2, 4.71% 5/22/2028 <sup>(d)(h)</sup>  | 17871 | 17882 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class A3, 5.47% 10/20/2028 <sup>(d)(h)</sup>  | 17207 | 17325 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class B, 5.71% 1/22/2030 <sup>(d)(h)</sup>  | 2222 | 2275 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A3, 4.55% 6/20/2030 <sup>(d)(h)</sup>  | 12902 | 12961 |
| SFS Auto Receivables Securitization Trust, Series 2023-1, Class C, 5.97% 2/20/2031 <sup>(d)(h)</sup>  | 3535 | 3635 |
| SLAM, LLC, Series 2024-1A, Class A, 5.335% 9/15/2049 <sup>(d)(h)</sup>  | 31060 | 31048 |
| SLAM, Ltd., Series 2021-1, Class A, 2.434% 6/15/2046 <sup>(d)(h)</sup>  | 17246 | 16179 |
| SLAM, Ltd., Series 2021-1, Class B, 3.422% 6/15/2046 <sup>(d)(h)</sup>  | 3175 | 2958 |
| SMB Private Education Loan Trust, Series 2023-C, Class A1A, 5.67% 11/15/2052 <sup>(d)(h)</sup>  | 5714 | 5872 |
| SMB Private Education Loan Trust, Series 2021-A, Class A2A2, (1-month USD CME Term SOFR + 0.844%) 5.156% <br> 1/15/2053 <sup>(d)(e)(h)</sup>  | 11451 | 11370 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(d)(h)</sup>  | 29307 | 27345 |
| Space Coast Credit Union, Series 2024-1, Class A3, 5.11% 6/15/2029 <sup>(d)(h)</sup>  | 6614 | 6655 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(d)(h)</sup>  | 22990 | 22241 |
| Steele Creek CLO, Ltd., Series 2019-1A, Class ARR, (3-month USD CME Term SOFR + 1.04%) 5.296% <br>4/15/2032 <sup>(d)(e)(h)</sup>  | 21719 | 21718 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class ARR, (3-month USD CME Term SOFR + 1.00%) 5.256% <br>7/15/2032 <sup>(d)(e)(h)</sup>  | 50324 | 50322 |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(d)(h)</sup>  | 19777 | 19399 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(d)(h)</sup>  | 9749 | 9341 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class A, 2.675% 2/28/2033 <sup>(d)(h)</sup>  | 6638 | 6351 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(d)(h)</sup>  | 20647 | 20574 |
| Subway Funding, LLC, Series 2024-3A, Class A2II, 5.566% 7/30/2054 <sup>(d)(h)</sup>  | 24376 | 24351 |
| Subway Funding, LLC, Series 2024-1, Class A2I, 6.028% 7/30/2054 <sup>(d)(h)</sup>  | 37205 | 37910 |
| Subway Funding, LLC, Series 2024-1, Class A2II, 6.268% 7/30/2054 <sup>(d)(h)</sup>  | 37205 | 38222 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(d)(h)</sup>  | 12082 | 11676 |
| Sycamore Tree CLO, Ltd., Series 2024-5, Class A1, (3-month USD CME Term SOFR + 1.42%) 5.689% <br>4/20/2036 <sup>(d)(e)(h)</sup>  | 20000 | 20044 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(d)</sup>  | 33163 | 33554 |
| Synchrony Card Issuance Trust, Series 2025-A1, Class A, 4.78% 2/18/2031 <sup>(d)</sup>  | 39744 | 40393 |
| TAL Advantage V, LLC, Series 2020-1A, Class A, 2.05% 9/20/2045 <sup>(d)(h)</sup>  | 29064 | 27390 |
| Teachers Insurance and Annuity Association of AME., CLO, Series 17-2A, Class A, (3-month USD CME Term SOFR <br> + 1.412%) 5.672% 1/16/2031 <sup>(d)(e)(h)</sup>  | 200 | 200 |
| Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 8/21/2045 <sup>(d)(h)</sup>  | 10836 | 10396 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 9/20/2045 <sup>(d)(h)</sup>  | 19571 | 18308 |
| Textainer Marine Containers, Ltd., Series 2020-3, Class A, 2.11% 9/20/2045 <sup>(d)(h)</sup>  | 1397 | 1312 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class B, 3.34% 9/20/2045 <sup>(d)(h)</sup>  | 2004 | 1901 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class A, 1.68% 2/20/2046 <sup>(d)(h)</sup>  | 24636 | 22684 |
| Textainer Marine Containers, Ltd., Series 2021-1, Class B, 2.52% 2/20/2046 <sup>(d)(h)</sup>  | 1060 | 977 |
| Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 4/20/2046 <sup>(d)(h)</sup>  | 50557 | 47215 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(d)(h)</sup>  | 26921 | 26921 |
| The Huntington National Bank, Series 2025-1, Class B, 4.957% 3/21/2033 <sup>(d)(h)</sup>  | 17595 | 17676 |
| Thompson Park CLO, Ltd., Series 2021-1A, Class A1R, (3-month USD CME Term SOFR + 1.05%) 5.306% <br> 4/15/2034 <sup>(d)(e)(h)</sup>  | 32456 | 32419 |
| TIF Funding II, LLC, Series 2020-1A, Class A, 2.09% 8/20/2045 <sup>(d)(h)</sup>  | 13044 | 12263 |
| TIF Funding II, LLC, Series 2021-1A, Class A, 1.65% 2/20/2046 <sup>(d)(h)</sup>  | 10777 | 9699 |
| TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/2046 <sup>(d)(h)</sup>  | 391 | 352 |
| TIF Funding II, LLC, Series 2024-1, Class C, 6.31% 4/20/2049 <sup>(d)(h)</sup>  | 515 | 521 |
| T-Mobile US Trust, Series 2024-1, Class A, 5.05% 9/20/2029 <sup>(d)(h)</sup>  | 25463 | 25672 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A3, 5.16% 4/17/2028 <sup>(d)</sup>  | 19884 | 19994 |
| Toyota Auto Receivables Owner Trust, Series 2023-C, Class A4, 5.01% 2/15/2029 <sup>(d)</sup>  | 7901 | 8015 |
| Tricolor Auto Securitization Trust, Series 2025-1A, Class A, 4.94% 2/15/2029 <sup>(d)(h)</sup>  | 17012 | 17034 |
| Trinitas CLO, Ltd., Series 2018-9A, Class ARRR, (3-month USD CME Term SOFR + 1.20%) 5.469% 1/20/2032 <sup>(d)(e)(h)</sup>  | 13688 | 13691 |
| Trinitas CLO, Ltd., Series 2018-9A, Class BRRR, (3-month USD CME Term SOFR + 1.70%) 5.969% 1/20/2032 <sup>(d)(e)(h)</sup>  | 9000 | 9010 |
| Trinitas CLO, Ltd., Series 2020-12, Class A1R, (3-month USD CME Term SOFR + 1.37%) 5.652% 4/25/2033 <sup>(d)(e)(h)</sup>  | 12207 | 12222 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(d)(h)</sup>  | 94497 | 87906 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class B, 3.74% 9/20/2045 <sup>(d)(h)</sup>  | 2467 | 2341 |
| Triton Container Finance VIII, LLC, Series 2021-1, Class A, 1.86% 3/20/2046 <sup>(d)(h)</sup>  | 28494 | 26054 |
| Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/2046 <sup>(d)(h)</sup>  | 1040 | 944 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(d)(h)</sup>  | 9194 | 9203 |
| United Auto Credit Securitization Trust, Series 2025-1, Class A, 4.80% 6/10/2027 <sup>(d)(h)</sup>  | 3937 | 3938 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **60** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| United Auto Credit Securitization Trust, Series 2025-1, Class B, 5.05% 2/10/2028 <sup>(d)(h)</sup>  | USD6,450 | $6457 |
| Valley Stream Park CLO, Ltd., Series 2022-1A, Class ARR, (3-month USD CME Term SOFR + 1.19%) 5.459% <br> 1/20/2037 <sup>(d)(e)(h)</sup>  | 72350 | 72348 |
| Venture CDO, Ltd., CLO, Series 2017-29, Class AR, (3-month USD CME Term SOFR + 1.252%) 5.578% <br>9/7/2030 <sup>(d)(e)(h)</sup>  | 1406 | 1407 |
| Venture CDO, Ltd., CLO, Series 2018-32, Class A2A, (3-month USD CME Term SOFR + 1.332%) 5.601% <br>7/18/2031 <sup>(d)(e)(h)</sup>  | 8974 | 8981 |
| Venture CDO, Ltd., CLO, Series 2019-36A, Class A1AR, (3-month USD CME Term SOFR + 1.13%) 5.661% <br> 4/20/2032 <sup>(d)(e)(h)</sup>  | 7738 | 7746 |
| Verdant Receivables, LLC, Series 2025-1A, Class A2, 4.85% 3/13/2028 <sup>(d)(h)</sup>  | 8649 | 8670 |
| Verdant Receivables, LLC, Series 2024-1, Class A2, 5.68% 12/12/2031 <sup>(d)(h)</sup>  | 6832 | 6947 |
| Verizon Master Trust, Series 2024-1, Class A1A, 5.00% 12/20/2028 <sup>(d)</sup>  | 27148 | 27208 |
| Verizon Master Trust, Series 2023-1, Class A, 4.49% 1/22/2029 (5.24% on 1/20/2026) <sup>(d)(i)</sup>  | 77422 | 77439 |
| Verizon Master Trust, Series 2024-3, Class A1A, 5.34% 4/22/2030 <sup>(d)</sup>  | 42675 | 43610 |
| Verizon Master Trust, Series 2023-3, Class A, 4.73% 4/21/2031 <sup>(d)(h)</sup>  | 44216 | 44927 |
| Verizon Master Trust., Series 24-5, Class A, 5.00% 6/21/2032 <sup>(d)(h)</sup>  | 8341 | 8568 |
| Verizon Master Trust, Series 2025-4, Class A, 4.76% 3/21/2033 <sup>(d)(h)</sup>  | 14123 | 14374 |
| Vibrant CLO, Ltd., Series 2018-9RA, Class A1, (3-month USD CME Term SOFR + 1.00%) 5.319% 4/20/2037 <sup>(d)(e)(h)</sup>  | 19735 | 19581 |
| Volvo Financial Equipment, LLC, Series 2025-1A, Class A2, 4.41% 11/15/2027 <sup>(d)(h)</sup>  | 9047 | 9056 |
| Voya CLO, Ltd., Series 2018-3, Class A1R2, (3-month USD CME Term SOFR + 1.20%) 5.456% 10/15/2031 <sup>(d)(e)(h)</sup>  | 17700 | 17703 |
| Voya CLO, Ltd., Series 2018-3, Class BR2, (3-month USD CME Term SOFR + 1.80%) 6.056% 10/15/2031 <sup>(d)(e)(h)</sup>  | 6957 | 6974 |
| VStrong Auto Receivables Trust, Series 2024-A, Class A2, 5.79% 8/16/2027 <sup>(d)(h)</sup>  | 308 | 308 |
| VStrong Auto Receivables Trust, Series 2024-A, Class A3, 5.62% 12/15/2028 <sup>(d)(h)</sup>  | 2244 | 2257 |
| VStrong Auto Receivables Trust, Series 2024-A, Class B, 5.77% 7/15/2030 <sup>(d)(h)</sup>  | 2590 | 2630 |
| Westlake Automobile Receivables Trust, Series 2021-2, Class D, 1.23% 12/15/2026 <sup>(d)(h)</sup>  | 1596 | 1592 |
| Westlake Automobile Receivables Trust, Series 2023-4, Class A2, 6.23% 1/15/2027 <sup>(d)(h)</sup>  | 1020 | 1021 |
| Westlake Automobile Receivables Trust, Series 2022-1A, Class D, 3.49% 3/15/2027 <sup>(d)(h)</sup>  | 5707 | 5692 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class A3, 5.44% 5/17/2027 <sup>(d)(h)</sup>  | 3469 | 3476 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class A3, 5.82% 5/17/2027 <sup>(d)(h)</sup>  | 31426 | 31494 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class A2A, 4.66% 1/18/2028 <sup>(d)(h)</sup>  | 25184 | 25186 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class B, 5.41% 1/18/2028 <sup>(d)(h)</sup>  | 2363 | 2365 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class A3, 4.71% 4/17/2028 <sup>(d)(h)</sup>  | 12741 | 12790 |
| Westlake Automobile Receivables Trust, Series 2025-1, Class A3, 4.75% 8/15/2028 <sup>(d)(h)</sup>  | 11868 | 11926 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class C, 5.74% 8/15/2028 <sup>(d)(h)</sup>  | 5491 | 5526 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class B, 5.92% 9/15/2028 <sup>(d)(h)</sup>  | 10243 | 10301 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/2028 <sup>(d)(h)</sup>  | 9545 | 9684 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class C, 5.65% 2/15/2029 <sup>(d)(h)</sup>  | 4187 | 4232 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/2029 <sup>(d)(h)</sup>  | 5314 | 5449 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class D, 6.02% 10/15/2029 <sup>(d)(h)</sup>  | 5627 | 5744 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class B, 4.72% 11/15/2029 <sup>(d)(h)</sup>  | 28358 | 28431 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class C, 4.92% 11/15/2029 <sup>(d)(h)</sup>  | 16701 | 16789 |
| Westlake Automobile Receivables Trust, Series 2024-2, Class B, 5.62% 3/15/2030 <sup>(d)(h)</sup>  | 7827 | 7908 |
| Westlake Automobile Receivables Trust, Series 2024-2, Class C, 5.68% 3/15/2030 <sup>(d)(h)</sup>  | 17000 | 17254 |
| Westlake Automobile Receivables Trust, Series 2024-3A, Class D, 5.21% 4/15/2030 <sup>(d)(h)</sup>  | 18000 | 18132 |
| Westlake Automobile Receivables Trust, Series 2024-2, Class D, 5.91% 4/15/2030 <sup>(d)(h)</sup>  | 6004 | 6119 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class B, 4.98% 9/16/2030 <sup>(d)(h)</sup>  | 14985 | 15105 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class C, 5.14% 10/15/2030 <sup>(d)(h)</sup>  | 19367 | 19641 |
| Westlake Automobile Receivables Trust, Series 2025-1A, Class D, 5.54% 11/15/2030 <sup>(d)(h)</sup>  | 7216 | 7333 |
| Westlake Flooring Master Trust, Series 2024-1, Class A, 5.43% 2/15/2028 <sup>(d)(h)</sup>  | 5364 | 5386 |
| Wheels Fleet Lease Funding, LLC, Series 2024-1, Class A1, 5.49% 2/18/2039 <sup>(d)(h)</sup>  | 21167 | 21380 |
| Wheels Fleet Lease Funding, LLC, Series 24-2A, Class A1, 4.87% 6/21/2039 <sup>(d)(h)</sup>  | 28311 | 28480 |
| Wheels Fleet Lease Funding, LLC, Series 2024-3A, Class A1, 4.80% 9/19/2039 <sup>(d)(h)</sup>  | 19228 | 19332 |
| Wind River CLO, Ltd., Series 2015-1A, Class A1R3, (3-month USD CME Term SOFR + 1.20%) 5.469% <br>10/20/2030 <sup>(d)(e)(h)</sup>  | 4077 | 4077 |
| Wind River CLO, Ltd., Series 2015-1, Class BR3, (3-month USD CME Term SOFR + 1.80%) 6.069% <br>10/20/2030 <sup>(d)(e)(h)</sup>  | 17000 | 17020 |
| Wingspire Equipment Finance, LLC, Series 2024-1A, Class A2, 4.99% 9/20/2032 <sup>(d)(h)</sup>  | 6474 | 6481 |
| World Financial Network Credit Card Master Trust, Series 2023-A, Class A, 5.02% 3/15/2030 <sup>(d)</sup>  | 39226 | 39433 |
| World Financial Network Credit Card Master Trust, Series 2024-A, Class A, 5.47% 2/17/2031 <sup>(d)</sup>  | 8090 | 8269 |
| World OMNI Select Auto Trust, Series 2024-A, Class A2A, 5.37% 2/15/2028 <sup>(d)</sup>  | 8872 | 8893 |
| World OMNI Select Auto Trust, Series 2024-A, Class A3, 4.98% 2/15/2030 <sup>(d)</sup>  | 18199 | 18302 |
|  |  | 7030253 |

---

---

| | |
|:---|:---|
| **61** | American Balanced Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. 0.64%** | **Bonds & notes of governments & government agencies outside the U.S. 0.64%** | **Bonds & notes of governments & government agencies outside the U.S. 0.64%** |
| Caisse d'Amortissement de la Dette Sociale 0.375% 9/23/2025 <sup>(h)</sup>  | USD18,000 | $17834 |
| Chile (Republic of) 3.10% 1/22/2061  | 15816 | 9621 |
| Colombia (Republic of) 7.50% 2/2/2034  | 2451 | 2443 |
| Colombia (Republic of) 8.00% 11/14/2035  | 39549 | 39818 |
| CPPIB Capital, Inc. 0.875% 9/9/2026 <sup>(h)</sup>  | 17827 | 17195 |
| CPPIB Capital, Inc. 2.75% 11/2/2027 <sup>(h)</sup>  | 23770 | 23189 |
| Development Bank of Japan, Inc. 1.25% 10/20/2026 <sup>(h)</sup>  | 18000 | 17354 |
| Development Bank of Japan, Inc. 1.75% 10/20/2031 <sup>(h)</sup>  | 12582 | 10860 |
| European Investment Bank 0.75% 10/26/2026  | 19007 | 18248 |
| European Investment Bank 0.625% 10/21/2027  | 7655 | 7138 |
| European Stability Mechanism 0.375% 9/10/2025 <sup>(h)</sup>  | 23570 | 23390 |
| Greece (Hellenic Republic of) 3.875% 6/15/2028  | EUR29,410 | 36268 |
| Greece (Hellenic Republic of) 4.25% 6/15/2033  | 44120 | 56376 |
| Greece (Hellenic Republic of) 3.375% 6/15/2034  | 142470 | 170627 |
| Greece (Hellenic Republic of) 3.625% 6/15/2035  | 140000 | 169504 |
| Hungary (Republic of) 2.125% 9/22/2031 <sup>(h)</sup>  | USD14,164 | 11804 |
| Hungary (Republic of) 3.125% 9/21/2051 <sup>(h)</sup>  | 17678 | 10463 |
| Hydro-Quebec 9.50% 11/15/2030  | 22230 | 27699 |
| Indonesia (Republic of), Series 31, 0.99% 5/27/2027  | JPY800,000 | 5518 |
| Indonesia (Republic of), Series 32, 1.33% 5/25/2029  | 2700000 | 18545 |
| Indonesia Asahan Aluminium (Persero) PT 5.45% 5/15/2030  | USD3,000 | 3055 |
| International Bank for Reconstruction and Development 0.75% 11/24/2027  | 9000 | 8388 |
| International Development Assn. 0.375% 9/23/2025 <sup>(h)</sup>  | 19410 | 19231 |
| Japan, Series 86, 2.40% 3/20/2055  | JPY22,740,850 | 145056 |
| Japan Bank for International Cooperation 1.25% 1/21/2031  | USD27,682 | 23843 |
| Landwirtschaftliche Rentenbank 0.875% 9/3/2030  | 13390 | 11554 |
| OMERS Finance Trust 1.10% 3/26/2026 <sup>(h)</sup>  | 26770 | 26180 |
| OMERS Finance Trust 3.50% 4/19/2032 <sup>(h)</sup>  | 33621 | 31891 |
| OMERS Finance Trust 4.00% 4/19/2052 <sup>(h)</sup>  | 33621 | 26101 |
| Ontario Teachers' Finance Trust 3.00% 4/13/2027 <sup>(h)</sup>  | 18000 | 17695 |
| Panama (Republic of) 7.50% 3/1/2031  | 8035 | 8570 |
| Panama (Republic of) 2.252% 9/29/2032  | 19671 | 15062 |
| Peru (Republic of) 1.862% 12/1/2032  | 40334 | 32227 |
| Peru (Republic of) 5.875% 8/8/2054  | 8925 | 8629 |
| Peru (Republic of) 2.78% 12/1/2060  | 40618 | 21923 |
| Philippines (Republic of) 6.375% 10/23/2034  | 19260 | 21189 |
| Qatar (State of) 4.00% 3/14/2029 <sup>(h)</sup>  | 7101 | 7057 |
| Qatar (State of) 4.817% 3/14/2049 <sup>(h)</sup>  | 7101 | 6385 |
| Quebec Canada (Province of) 2.75% 4/12/2027  | 23200 | 22693 |
| Romania 6.625% 2/17/2028  | 20000 | 20698 |
| Saskatchewan (Province of) 3.25% 6/8/2027  | 19319 | 19022 |
| Saudi Arabia (Kingdom of) 5.125% 1/13/2028 <sup>(h)</sup>  | 56195 | 57147 |
| Saudi Arabia (Kingdom of) 4.75% 1/18/2028 <sup>(h)</sup>  | 4883 | 4924 |
| Saudi Arabia (Kingdom of) 4.875% 7/18/2033 <sup>(h)</sup>  | 310 | 312 |
| United Mexican States 6.00% 5/13/2030  | 29175 | 30225 |
| United Mexican States 4.75% 4/27/2032  | 19875 | 18929 |
| United Mexican States 5.85% 7/2/2032  | 20000 | 20265 |
| United Mexican States 3.50% 2/12/2034  | 9008 | 7582 |
| United Mexican States 6.00% 5/7/2036  | 170510 | 168703 |
| United Mexican States 6.875% 5/13/2037  | 49420 | 51665 |
| United Mexican States 6.625% 1/29/2038  | 19000 | 19314 |
| United Mexican States 6.338% 5/4/2053  | 6235 | 5737 |
| United Mexican States 7.375% 5/13/2055  | 17730 | 18346 |
| United Mexican States 3.771% 5/24/2061  | 13292 | 7884 |
|  |  | 1601376 |
| **Municipals 0.26%** | **Municipals 0.26%** | **Municipals 0.26%** |
| **California 0.03%** | **California 0.03%** | **California 0.03%** |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2021-B, 2.719% 11/1/2052  | 7980 | 5250 |
| Trustees of the California State University, Systemwide Rev. Bonds, Series 2021-B, 2.939% 11/1/2052  | 11515 | 7662 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 2.158% 6/1/2026  | 1730 | 1693 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 2.332% 6/1/2027  | 2395 | 2300 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, <br> 2.746% 6/1/2034  | 2265 | 1961 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **62** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| **California (continued)** | **California (continued)** | **California (continued)** |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 3.487% 6/1/2036  | USD5,365 | $4478 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A, <br> 3.115% 6/1/2038  | 25195 | 20297 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 3.714% 6/1/2041  | 8055 | 6167 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, <br> 3.293% 6/1/2042  | 4015 | 2985 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, <br> 3.00% 6/1/2046  | 345 | 303 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.316% 5/15/2027  | 5400 | 5155 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 5/15/2030  | 6450 | 5765 |
| Regents of the University of California, General Rev. Bonds, Series 2023-BR, 5.10% 5/15/2033  | 13795 | 14314 |
| Regents of the University of California, General Rev. Bonds, Series 2021-BI, 2.847% 5/15/2041  | 2690 | 1971 |
| Regents of the University of California, General Rev. Bonds, Series 2021-BI, 3.146% 5/15/2051  | 11320 | 7988 |
|  |  | 88289 |
| **Florida 0.04%** | **Florida 0.04%** | **Florida 0.04%** |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.258% 7/1/2025  | 10760 | 10760 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.705% 7/1/2027  | 44105 | 42028 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 7/1/2030  | 43308 | 38786 |
|  |  | 91574 |
| **Illinois 0.09%** | **Illinois 0.09%** | **Illinois 0.09%** |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 197170 | 197929 |
| GO Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033  | 25951 | 26096 |
| GO Bonds, Taxable Build America Bonds, Series 2010-1, 6.63% 2/1/2035  | 4777 | 5021 |
|  |  | 229046 |
| **Massachusetts 0.02%** | **Massachusetts 0.02%** | **Massachusetts 0.02%** |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 55970 | 57567 |
| **Michigan 0.00%** | **Michigan 0.00%** | **Michigan 0.00%** |
| Board of Trustees of Michigan State University, Rev. Bonds, Series 2022-A, 4.165% 8/15/2122  | 10670 | 7693 |
| Regents of the University of Michigan, General Rev. Bonds, Series 2022-A, 3.504% 4/1/2052  | 6660 | 4911 |
|  |  | 12604 |
| **New York 0.02%** | **New York 0.02%** | **New York 0.02%** |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 1.187% <br> 3/15/2026 (escrowed to maturity)  | 8915 | 8728 |
| Dormitory Auth., Taxable State Personal Income Tax Rev. Bonds (General Purpose), Series 2021-C, 1.748% <br> 3/15/2028 (escrowed to maturity)  | 5635 | 5328 |
| New York City GO Bonds, Fiscal 2025, Series 2025-H, 6.291% 2/1/2045  | 7980 | 8369 |
| New York City GO Bonds, Fiscal 2025, Series 2025-H, 6.385% 2/1/2055  | 15960 | 16608 |
|  |  | 39033 |
| **Ohio 0.02%** | **Ohio 0.02%** | **Ohio 0.02%** |
| Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series <br> 2021, 4.425% 5/1/2031  | 50360 | 44915 |
| **South Dakota 0.00%** | **South Dakota 0.00%** | **South Dakota 0.00%** |
| Housing Dev. Auth., Homeownership Mortgage Bonds, Series 2015-D, 4.00% 11/1/2045  | 20 | 20 |
| **Wisconsin 0.04%** | **Wisconsin 0.04%** | **Wisconsin 0.04%** |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 93750 | 91690 |
| **Total municipals** |  | 654738 |

---

---

| | |
|:---|:---|
| **63** | American Balanced Fund |

---

------

---

| | | | |
|:---|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) |  | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Federal agency bonds & notes 0.04%** | **Federal agency bonds & notes 0.04%** | **Federal agency bonds & notes 0.04%** | **Federal agency bonds & notes 0.04%** |
| Fannie Mae 0.375% 8/25/2025  | Fannie Mae 0.375% 8/25/2025  | USD16,060 | $15962 |
| Fannie Mae 0.75% 10/8/2027  | Fannie Mae 0.75% 10/8/2027  | 11330 | 10597 |
| Fannie Mae 0.875% 8/5/2030  | Fannie Mae 0.875% 8/5/2030  | 17097 | 14788 |
| Federal Home Loan Bank 5.50% 7/15/2036  | Federal Home Loan Bank 5.50% 7/15/2036  | 600 | 654 |
| Korea Gas Corp. 5.00% 7/8/2029 <sup>(h)</sup>  | Korea Gas Corp. 5.00% 7/8/2029 <sup>(h)</sup>  | 4334 | 4448 |
| Korea Housing Finance Corp. 4.625% 2/24/2028 <sup>(h)</sup>  | Korea Housing Finance Corp. 4.625% 2/24/2028 <sup>(h)</sup>  | 19870 | 20079 |
| Tennessee Valley Authority 4.375% 8/1/2034  | Tennessee Valley Authority 4.375% 8/1/2034  | 36227 | 35974 |
|  |  |  | 102502 |
| **Total bonds, notes & other debt instruments** (cost: $75,401,031,000) | **Total bonds, notes & other debt instruments** (cost: $75,401,031,000) |  | 74791660 |
| Investment funds 2.60% |  | Shares |  |
| Capital Group Central Corporate Bond Fund <sup>(b)</sup>  | Capital Group Central Corporate Bond Fund <sup>(b)</sup>  | 773999981 | 6532560 |
| **Total Investment funds** (cost: $7,487,982,000) | **Total Investment funds** (cost: $7,487,982,000) |  | 6532560 |
| Short-term securities 4.29% |  |  |  |
| **Money market investments 4.25%** | **Money market investments 4.25%** | **Money market investments 4.25%** | **Money market investments 4.25%** |
| Capital Group Central Cash Fund 4.35% <sup>(b)(n)</sup>  | Capital Group Central Cash Fund 4.35% <sup>(b)(n)</sup>  | 106822655 | 10682266 |
| **Money market investments purchased with collateral from securities on loan 0.03%** | **Money market investments purchased with collateral from securities on loan 0.03%** | **Money market investments purchased with collateral from securities on loan 0.03%** | **Money market investments purchased with collateral from securities on loan 0.03%** |
| Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 4.23% <sup>(n)(o)</sup>  | Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 4.23% <sup>(n)(o)</sup>  | 10700000 | 10700 |
| BlackRock Liquidity Funds – FedFund, Institutional Shares 4.22% <sup>(n)(o)</sup>  | BlackRock Liquidity Funds – FedFund, Institutional Shares 4.22% <sup>(n)(o)</sup>  | 10000000 | 10000 |
| Dreyfus Treasury Obligations Cash Management, Institutional Shares 4.19% <sup>(n)(o)</sup>  | Dreyfus Treasury Obligations Cash Management, Institutional Shares 4.19% <sup>(n)(o)</sup>  | 10000000 | 10000 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 4.27% <sup>(n)(o)</sup>  | State Street Institutional U.S. Government Money Market Fund, Premier Class 4.27% <sup>(n)(o)</sup>  | 10000000 | 10000 |
| Fidelity Investments Money Market Government Portfolio, Class I 4.23% <sup>(n)(o)</sup>  | Fidelity Investments Money Market Government Portfolio, Class I 4.23% <sup>(n)(o)</sup>  | 9200000 | 9200 |
| Capital Group Central Cash Fund 4.35% <sup>(b)(n)(o)</sup>  | Capital Group Central Cash Fund 4.35% <sup>(b)(n)(o)</sup>  | 76483 | 7648 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 4.22% <sup>(n)(o)</sup>  | Goldman Sachs Financial Square Government Fund, Institutional Shares 4.22% <sup>(n)(o)</sup>  | 7600000 | 7600 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(n)(o)</sup>  | Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.26% <sup>(n)(o)</sup>  | 7203968 | 7204 |
| RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 4.25% <sup>(n)(o)</sup>  | RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 4.25% <sup>(n)(o)</sup>  | 4600000 | 4600 |
|  |  |  | 76952 |
|  | Coupon rate | Principal amount<br> (000)<br>|  |
| **Interest bearing bills & notes 0.01%** | **Interest bearing bills & notes 0.01%** | **Interest bearing bills & notes 0.01%** | **Interest bearing bills & notes 0.01%** |
| Pacific Gas and Electric Co. (USD-SOFR Index + 0.95%) 9/4/2025 <sup>(e)</sup>  | 5.300<br> %<br>| USD20,000 | 19991 |
| **Total short-term securities** (cost: $10,778,704,000) |  |  | 10779209 |
| **Total investment securities 101.17%** (cost: $177,924,396,000) | **Total investment securities 101.17%** (cost: $177,924,396,000) |  | 254024381 |
| Other assets less liabilities (1.17)% | Other assets less liabilities (1.17)% |  | (2933504)<br>|
| **Net assets 100.00%** | **Net assets 100.00%** |  | $251090877 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Long | 73143 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD17,493,063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(22681)<br>|
| 3 Month SOFR Futures | Short | 50202 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12089897)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19126)<br>|
| 3 Month SOFR Futures | Short | 2904 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (701316)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 669 |
| 2 Year U.S. Treasury Note Futures | Long | 62022 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12902030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27576 |
| 5 Year U.S. Treasury Note Futures | Long | 79824 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8700816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91737 |

---

---

| | |
|:---|:---|
| American Balanced Fund | **64** |

---

------

**Futures contracts** (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 10 Year Euro-Bund Futures | Short | 3000 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(459,931)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2383 |
| 10 Year Japanese Government Bond Futures | Short | 414 | 9/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (399669)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1357)<br>|
| 10 Year U.S. Treasury Note Futures | Long | 21635 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2425824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43431 |
| 10 Year Ultra U.S. Treasury Note Futures | Short | 1240 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (141689)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (777)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 9506 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1097646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39046 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 23334 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2779663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103649 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $264550 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| EUR | 19804 | USD | 23233 | HSBC Bank | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $97 |
| USD | 22441 | EUR | 19804 | BNP Paribas | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (889)<br>|
| USD | 328038 | EUR | 286265 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9499)<br>|
| USD | 72555 | EUR | 63457 | BNP Paribas | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2273)<br>|
| USD | 22879 | EUR | 19890 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (578)<br>|
| USD | 79400 | EUR | 69360 | Citibank | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2395)<br>|
| USD | 38675 | JPY | 5553376 | JPMorgan Chase | 7/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32 |
| USD | 65229 | EUR | 56050 | Standard Chartered Bank | 7/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (910)<br>|
| USD | 139120 | JPY | 20190866 | UBS AG | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1572)<br>|
| USD | 80897 | EUR | 69468 | UBS AG | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1148)<br>|
| USD | 23296 | EUR | 19804 | HSBC Bank | 8/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(19236)<br>|

---

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| U.S. EFFR | Annual | 0.10625% | Annual | &nbsp;&nbsp; 7/8/2025 | USD301,000 | &nbsp;&nbsp; $242 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $242 |
| 4.2045% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/10/2026 | 45883 | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1)<br>|
| 4.2035% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/10/2026 | 174359 | &nbsp;&nbsp; (5)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5)<br>|
| 4.184% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/10/2026 | 174359 | &nbsp;&nbsp; (23)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (23)<br>|
| 4.27% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/16/2026 | 479018 | &nbsp;&nbsp; 418 | &nbsp;&nbsp; — | &nbsp;&nbsp; 418 |
| 4.265% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/16/2026 | 237725 | &nbsp;&nbsp; 200 | &nbsp;&nbsp; — | &nbsp;&nbsp; 200 |
| 4.3035% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/17/2026 | 142700 | &nbsp;&nbsp; 154 | &nbsp;&nbsp; — | &nbsp;&nbsp; 154 |
| 4.2675% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/17/2026 | 137752 | &nbsp;&nbsp; 118 | &nbsp;&nbsp; — | &nbsp;&nbsp; 118 |
| 4.2515% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/17/2026 | 141314 | &nbsp;&nbsp; 107 | &nbsp;&nbsp; — | &nbsp;&nbsp; 107 |
| 4.3005% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/17/2026 | 98960 | &nbsp;&nbsp; 105 | &nbsp;&nbsp; — | &nbsp;&nbsp; 105 |
| 4.288% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/17/2026 | 100530 | &nbsp;&nbsp; 99 | &nbsp;&nbsp; — | &nbsp;&nbsp; 99 |
| 4.56% | Annual | SOFR | Annual | &nbsp;&nbsp; 3/1/2026 | 1221100 | &nbsp;&nbsp; 3650 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3650 |
| 4.568% | Annual | SOFR | Annual | &nbsp;&nbsp; 3/1/2026 | 1200000 | &nbsp;&nbsp; 3649 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3649 |
| 4.9005% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/17/2026 | 628500 | &nbsp;&nbsp; 4347 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4347 |
| 4.815% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/6/2026 | 993800 | &nbsp;&nbsp; 6934 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6934 |
| 4.723% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/7/2026 | 961810 | &nbsp;&nbsp; 6015 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6015 |
| 4.659% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/17/2026 | 1771000 | &nbsp;&nbsp; 10831 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10831 |
| 3.53% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/23/2027 | 328900 | &nbsp;&nbsp; (406)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (406)<br>|
| 3.5405% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/23/2027 | 544500 | &nbsp;&nbsp; (586)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (586)<br>|

---

---

| | |
|:---|:---|
| **65** | American Balanced Fund |

---

------

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

**Centrally cleared interest rate swaps** (continued)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration<br> date | &nbsp;&nbsp; Notional<br> amount<br> (000) | Value at<br> 6/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 6/30/2025<br> (000) |
| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Rate | &nbsp;&nbsp; Payment<br> frequency<br>| Expiration<br> date | &nbsp;&nbsp; Notional<br> amount<br> (000) | Value at<br> 6/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 6/30/2025<br> (000) |
| 3.535% | Annual | SOFR | Annual | &nbsp;&nbsp; 1/23/2027 | USD589,900 | &nbsp;&nbsp; $(684)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(684)<br>|
| SOFR | Annual | 4.186% | Annual | &nbsp;&nbsp; 2/18/2027 | 2355520 | &nbsp;&nbsp; (22154)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (22154)<br>|
| 3.7645% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/20/2027 | 1059400 | &nbsp;&nbsp; 3012 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3012 |
| 3.761% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/20/2027 | 530200 | &nbsp;&nbsp; 1478 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1478 |
| SOFR | Annual | 3.39981% | Annual | &nbsp;&nbsp; 3/31/2027 | 1024400 | &nbsp;&nbsp; 2451 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2451 |
| 4.5895% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/6/2027 | 716265 | &nbsp;&nbsp; 13544 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13544 |
| 3.6475% | Annual | SOFR | Annual | &nbsp;&nbsp; 2/27/2028 | 879900 | &nbsp;&nbsp; 7665 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7665 |
| 3.16% | Annual | SOFR | Annual | &nbsp;&nbsp; 6/20/2028 | 161300 | &nbsp;&nbsp; (1100)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1100)<br>|
| SOFR | Annual | 3.528% | Annual | &nbsp;&nbsp; 1/29/2030 | 176400 | &nbsp;&nbsp; (835)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (835)<br>|
| SOFR | Annual | 3.529% | Annual | &nbsp;&nbsp; 1/29/2030 | 216000 | &nbsp;&nbsp; (1032)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1032)<br>|
| SOFR | Annual | 3.5485% | Annual | &nbsp;&nbsp; 1/29/2030 | 234500 | &nbsp;&nbsp; (1313)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1313)<br>|
| 3.18% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/17/2030 | 124700 | &nbsp;&nbsp; (1328)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1328)<br>|
| 3.275% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/18/2030 | 124700 | &nbsp;&nbsp; (808)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (808)<br>|
| 3.353% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/19/2030 | 124700 | &nbsp;&nbsp; (379)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (379)<br>|
| 3.342% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/19/2030 | 124700 | &nbsp;&nbsp; (440)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (440)<br>|
| 3.344% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/20/2030 | 124600 | &nbsp;&nbsp; (431)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (431)<br>|
| 3.128% | Annual | SOFR | Annual | &nbsp;&nbsp; 4/28/2030 | 124700 | &nbsp;&nbsp; (1629)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1629)<br>|
| 3.285% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/1/2030 | 124700 | &nbsp;&nbsp; (763)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (763)<br>|
| 3.259% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/1/2030 | 124700 | &nbsp;&nbsp; (907)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (907)<br>|
| 3.186% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/9/2030 | 124700 | &nbsp;&nbsp; (1320)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1320)<br>|
| 3.215% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/10/2030 | 124600 | &nbsp;&nbsp; (1158)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1158)<br>|
| 3.29% | Annual | SOFR | Annual | &nbsp;&nbsp; 5/19/2030 | 149400 | &nbsp;&nbsp; (900)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (900)<br>|
| U.S. EFFR | Annual | 0.666% | Annual | &nbsp;&nbsp; 11/19/2030 | 78700 | &nbsp;&nbsp; 10529 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10529 |
| SOFR | Annual | 3.10% | Annual | &nbsp;&nbsp; 6/20/2033 | 86900 | &nbsp;&nbsp; 2925 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2925 |
| SOFR | Annual | 3.5935% | Annual | &nbsp;&nbsp; 1/9/2034 | 70175 | &nbsp;&nbsp; 125 | &nbsp;&nbsp; — | &nbsp;&nbsp; 125 |
| SOFR | Annual | 3.8055% | Annual | &nbsp;&nbsp; 6/18/2034 | 197945 | &nbsp;&nbsp; (2530)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (2530)<br>|
| SOFR | Annual | 3.01413% | Annual | &nbsp;&nbsp; 1/12/2053 | 70055 | &nbsp;&nbsp; 10890 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10890 |
| SOFR | Annual | 3.02% | Annual | &nbsp;&nbsp; 1/12/2053 | 70100 | &nbsp;&nbsp; 10828 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10828 |
| SOFR | Annual | 2.974% | Annual | &nbsp;&nbsp; 4/17/2053 | 39200 | &nbsp;&nbsp; 6373 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6373 |
| SOFR | Annual | 3.044% | Annual | &nbsp;&nbsp; 4/18/2053 | 39500 | &nbsp;&nbsp; 5954 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5954 |
| SOFR | Annual | 3.0875% | Annual | &nbsp;&nbsp; 4/19/2053 | 39600 | &nbsp;&nbsp; 5678 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5678 |
| SOFR | Annual | 3.1035% | Annual | &nbsp;&nbsp; 4/19/2053 | 39500 | &nbsp;&nbsp; 5556 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5556 |
| SOFR | Annual | 3.0895% | Annual | &nbsp;&nbsp; 4/20/2053 | 39600 | &nbsp;&nbsp; 5664 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5664 |
| SOFR | Annual | 2.9405% | Annual | &nbsp;&nbsp; 4/28/2053 | 39400 | &nbsp;&nbsp; 6631 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6631 |
| SOFR | Annual | 3.0535% | Annual | &nbsp;&nbsp; 5/1/2053 | 79000 | &nbsp;&nbsp; 11783 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11783 |
| SOFR | Annual | 3.085% | Annual | &nbsp;&nbsp; 5/9/2053 | 39700 | &nbsp;&nbsp; 5710 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5710 |
| SOFR | Annual | 3.1135% | Annual | &nbsp;&nbsp; 5/10/2053 | 39800 | &nbsp;&nbsp; 5533 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5533 |
| SOFR | Annual | 3.1605% | Annual | &nbsp;&nbsp; 5/19/2053 | 47600 | &nbsp;&nbsp; 6238 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6238 |
| SOFR | Annual | 3.6765% | Annual | &nbsp;&nbsp; 2/20/2054 | 95922 | &nbsp;&nbsp; 4128 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4128 |
| SOFR | Annual | 3.6815% | Annual | &nbsp;&nbsp; 2/20/2054 | 92100 | &nbsp;&nbsp; 3884 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3884 |
| SOFR | Annual | 3.7205% | Annual | &nbsp;&nbsp; 2/21/2054 | 76861 | &nbsp;&nbsp; 2726 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2726 |
| SOFR | Annual | 3.6745% | Annual | &nbsp;&nbsp; 2/28/2054 | 86400 | &nbsp;&nbsp; 3746 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3746 |
|  |  |  |  |  |  | &nbsp;&nbsp; $139188 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $139188 |

---

**Credit default swaps** 

**Centrally cleared credit default swaps on credit indices — buy protection** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD3,585,640 | &nbsp;&nbsp;&nbsp;&nbsp; $(79271)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(53121)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(26150)<br>|

---

---

| | |
|:---|:---|
| American Balanced Fund | **66** |

---

------

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 1.09%** |  |  |  |  |  |  |  |
| **Financials 0.55%** |  |  |  |  |  |  |  |
| Synchrony Financial  | $1359805 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11901 | &nbsp;&nbsp; $5780 | &nbsp;&nbsp; $30351 | &nbsp;&nbsp; $1384035 | &nbsp;&nbsp; $11406 |
| **Consumer discretionary 0.24%** |  |  |  |  |  |  |  |
| Aramark  | 536166 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 65530 | &nbsp;&nbsp; 601696 | &nbsp;&nbsp; 3018 |
| **Materials 0.30%** |  |  |  |  |  |  |  |
| Royal Gold, Inc.  | 562960 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 196363 | &nbsp;&nbsp; 759323 | &nbsp;&nbsp; 3843 |
| **Total common stocks** |  |  |  |  |  | &nbsp;&nbsp; 2745054 |  |
| **Bonds, notes & other debt instruments 0.02%** |  |  |  |  |  |  |  |
| **Financials 0.02%** |  |  |  |  |  |  |  |
| Synchrony Financial 5.935% 8/2/2030 (USD-SOFR Index <br> + 2.13% on 8/2/2029) <sup>(i)</sup> <br>| 35375 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 634 | &nbsp;&nbsp; 36009 | &nbsp;&nbsp; 993 |
| Synchrony Financial 2.875% 10/28/2031  | 17415 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 815 | &nbsp;&nbsp; 18230 | &nbsp;&nbsp; 529 |
|  |  |  |  |  |  | &nbsp;&nbsp; 54239 |  |
| **Investment funds 2.60%** |  |  |  |  |  |  |  |
| Capital Group Central Corporate Bond Fund  | 6435120 | &nbsp;&nbsp; 305988 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; (52677)<br>| &nbsp;&nbsp; 164129 | &nbsp;&nbsp; 6532560 | &nbsp;&nbsp; 155987 |
| **Short-term securities 4.26%** |  |  |  |  |  |  |  |
| **Money market investments 4.26%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(n)</sup>  | 11595494 | &nbsp;&nbsp; 14927635 | &nbsp;&nbsp; 15838429 | &nbsp;&nbsp; (1025)<br>| &nbsp;&nbsp; (1409)<br>| &nbsp;&nbsp; 10682266 | &nbsp;&nbsp; 269818 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.00%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(n)(o)</sup>  | 13465 |  | &nbsp;&nbsp; 5817 <br><sup>(p)</sup><br>|  |  | &nbsp;&nbsp; 7648 | &nbsp;&nbsp; — <br><sup>(q)</sup><br>|
| **Total short-term securities** |  |  |  |  |  | &nbsp;&nbsp; 10689914 |  |
| **Total 7.97%** |  |  |  | &nbsp;&nbsp; $(47922)<br>| &nbsp;&nbsp; $456413 | &nbsp;&nbsp; $20021767 | &nbsp;&nbsp; $445594 |

---

**Restricted securities** <sup>(m)</sup>

------

---

| | | | |
|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>|
| Black Diamond CLO, Ltd., Series 2016-1X, Class A1AR, (3-month USD CME <br> Term SOFR + 1.292%) 5.574% 4/26/2031 <sup>(d)(e)</sup> <br>| 9/5/2024 | $11237 | $11227<br> 0.00 %<sup>(r)</sup><br>|
| Octagon Investment Partners, Ltd., CLO, Series 2018-18X, Class A1A, <br> (3-month USD CME Term SOFR + 1.222%) 5.482% 4/16/2031 <sup>(d)(e)</sup> <br>| 10/28/2022 | 1015 | 1027<br> 0.00 <br><sup>(r)</sup><br>|
| **Total** |  | $12252 | $12254<br> 0.00 %<sup>(r)</sup><br>|

---

---

| | |
|:---|:---|
| **67** | American Balanced Fund |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(c)</sup> All or a portion of this security was on loan. The total value of all such securities was $155,712,000, which represented 0.06% of the net assets of the fund. Refer to Note 5 for more information on securities lending. 

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

<sup>(e)</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>(f)</sup> Amount less than one thousand.

<sup>(g)</sup> Represents securities transacted on a TBA basis.

<sup>(h)</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 $14,419,461,000, which represented 5.74% of the net assets of the fund. 

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

<sup>(j)</sup> Securities referencing LIBOR are expected to transition to an alternative reference rate by the security's next scheduled coupon reset date.

<sup>(k)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $564,027,000, which represented 0.22% of the net assets of the fund. 

<sup>(l)</sup> Index-linked bond whose principal amount moves with a government price index. 

<sup>(m)</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 $12,254,000, which represented less than 0.01% of the net assets of the fund. 

<sup>(n)</sup> Rate represents the seven-day yield at 6/30/2025.

<sup>(o)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(p)</sup> Represents net activity. Refer to Note 5 for more information on securities lending.

<sup>(q)</sup> Dividend income is included with securities lending income in the fund's statement of operations and is not shown in this table.

<sup>(r)</sup> Amount less than 0.01%.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| Assn. = Association |
| Auth. = Authority |
| CAD = Canadian dollars |
| CLO = Collateralized Loan Obligations |
| CME = CME Group |
| CMO = Collateralized Mortgage Obligations |
| DAC = Designated Activity Company |
| Dev. = Development |
| EFFR = Effective Federal Funds Rate |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| Fin. = Finance |

---

---

| |
|:---|
| Fncg. = Financing |
| GBP = British pounds |
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| JPY = Japanese yen |
| LIBOR = London Interbank Offered Rate |
| REIT = Real Estate Investment Trust |
| Rev. = Revenue |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| USD = U.S. dollars |
| UST = U.S. Treasury |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Balanced Fund | **68** |

---

------

Financial statements

**Statement of assets and liabilities** at June 30, 2025unaudited

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Assets:** |  |  |
| Investment securities, at value (includes $155,712 of <br>investment securities on loan):<br>|  |  |
| Unaffiliated issuers (cost: $158,441,686) | $234002614 |  |
| Affiliated issuers (cost: $19,482,710) | 20021767 | $254024381 |
| Cash |  | 10437 |
| Cash denominated in currencies other than U.S. dollars (cost: $6,057) |  | 6059 |
| Unrealized appreciation on open forward currency contracts |  | 129 |
| Receivables for: |  |  |
| Sales of investments | 8410805 |  |
| Sales of fund's shares | 194744 |  |
| Dividends and interest | 811939 |  |
| Securities lending income | 248 |  |
| Variation margin on futures contracts | 63394 |  |
| Variation margin on centrally cleared swap contracts | 11516 |  |
| Other | 3386 | 9496032<br>|
|  |  | 263537038 |
| **Liabilities:** |  |  |
| Collateral for securities on loan |  | 76952 |
| Unrealized depreciation on open forward currency contracts |  | 19365 |
| Payables for: |  |  |
| Purchases of investments | 12030960 |  |
| Repurchases of fund's shares | 177255 |  |
| Investment advisory services | 42692 |  |
| Services provided by related parties | 46049 |  |
| Trustees' deferred compensation | 6479 |  |
| Variation margin on futures contracts | 4806 |  |
| Variation margin on centrally cleared swap contracts | 20437 |  |
| Other | 21166 | 12349844<br>|
| **Net assets at June 30, 2025** |  | $251090877 |
| **Net assets consist of:** |  |  |
| Capital paid in on shares of beneficial interest |  | $163620536 |
| Total distributable earnings (accumulated loss) |  | 87470341<br>|
| **Net assets at June 30, 2025** |  | $251090877 |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **69** | American Balanced Fund |

---

------

Financial statements (continued)

**Statement of assets and liabilities** at June 30, 2025 (continued)unaudited

------

(dollars and shares in thousands, except per-share amounts)

**Shares of beneficial interest issued and outstanding (no stated par value) —**

**unlimited shares authorized (6,848,050 total shares outstanding)** 

---

| | | | |
|:---|:---|:---|:---|
|  | Net assets | Shares <br>outstanding<br>| Net asset value <br>per share<br>|
| Class A | $116225583 | 3168055 | $36.69 |
| Class C | 7946775 | 218444 | 36.38 |
| Class T | 14 | —<br> \*<br>| 36.68 |
| Class F-1 | 4295615 | 117210 | 36.65 |
| Class F-2 | 32761299 | 893885 | 36.65 |
| Class F-3 | 13552658 | 369630 | 36.67 |
| Class 529-A | 6154655 | 168148 | 36.60 |
| Class 529-C | 245394 | 6694 | 36.66 |
| Class 529-E | 183106 | 5005 | 36.58 |
| Class 529-T | 21 | 1 | 36.69 |
| Class 529-F-1 | 15 | —<br> \*<br>| 36.55 |
| Class 529-F-2 | 643128 | 17533 | 36.68 |
| Class 529-F-3 | 2319 | 63 | 36.68 |
| Class R-1 | 209678 | 5771 | 36.33 |
| Class R-2 | 1177308 | 32367 | 36.37 |
| Class R-2E | 170641 | 4677 | 36.48 |
| Class R-3 | 2526073 | 69318 | 36.44 |
| Class R-4 | 4245283 | 115951 | 36.61 |
| Class R-5E | 667664 | 18219 | 36.65 |
| Class R-5 | 1168747 | 31811 | 36.74 |
| Class R-6 | 58914901 | 1605268 | 36.70 |

---

\*

Amount less than one thousand.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Balanced Fund | **70** |

---

------

Financial statements (continued)

**Statement of operations** for the six months ended June 30, 2025unaudited

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Investment income:** |  |  |
| Income: |  |  |
| Interest (net of non-U.S. taxes of $2; also includes $1,522 from affiliates) | $1673804 |  |
| Dividends (net of non-U.S. taxes of $20,641; <br>also includes $444,072 from affiliates)<br>| 1621510 |  |
| Securities lending income (net of fees) | 861 | $3296175 |
| Fees and expenses\*: |  |  |
| Investment advisory services | 250341 |  |
| Distribution services | 205790 |  |
| Transfer agent services | 63449 |  |
| Administrative services | 35368 |  |
| 529 plan services | 1824 |  |
| Reports to shareholders | 1784 |  |
| Registration statement and prospectus | 2386 |  |
| Trustees' compensation | 615 |  |
| Auditing and legal | 144 |  |
| Custodian | 884 |  |
| Other | 119 | 562704<br>|
| Net investment income |  | 2733471<br>|
| **Net realized gain (loss) and unrealized appreciation (depreciation):** |  |  |
| Net realized gain (loss) on: |  |  |
| Investments (net of non-U.S. taxes of $9,265): |  |  |
| Unaffiliated issuers | 8093062 |  |
| Affiliated issuers | (47922)<br>|  |
| Futures contracts | (212653)<br>|  |
| Forward currency contracts | (55525)<br>|  |
| Swap contracts | 11047 |  |
| Currency transactions | 470 | 7788479 |
| Net unrealized appreciation (depreciation) on: |  |  |
| Investments (net of non-U.S. taxes of $12,128): |  |  |
| Unaffiliated issuers | 7493777 |  |
| Affiliated issuers | 456413 |  |
| Futures contracts | 507869 |  |
| Forward currency contracts | (25365)<br>|  |
| Swap contracts | (6897)<br>|  |
| Currency translations | 3796 | 8429593<br>|
| Net realized gain (loss) and unrealized appreciation (depreciation) |  | 16218072<br>|
| **Net increase (decrease) in net assets resulting from operations** |  | $18951543 |

---

\*

Additional information related to class-specific fees and expenses is included in the notes to financial statements.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **71** | American Balanced Fund |

---

------

Financial statements (continued)

**Statements of changes in net assets**

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br>**June 30,**<br>| **Year ended** <br>**December 31,**<br>|
|  | **2025\*** | **2024** |
| **Operations:** |  |  |
| Net investment income | $2733471 | $5241267 |
| Net realized gain (loss) | 7788479 | 15028772 |
| Net unrealized appreciation (depreciation) | 8429593 | 11167984 |
| Net increase (decrease) in net assets resulting from operations | 18951543 | 31438023 |
| **Distributions paid to shareholders** | (2921857)<br>| (16284422)<br>|
| **Net capital share transactions** | (1008334)<br>| 9589580 |
| **Total increase (decrease) in net assets**  | 15021352 | 24743181 |
| **Net assets:** |  |  |
| Beginning of period | 236069525 | 211326344 |
| End of period | $251090877 | $236069525 |

---

\*

Unaudited.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Balanced Fund | **72** |

---

------

Notes to financial statementsunaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

------

American Balanced Fund (the "fund") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company. The fund seeks conservation of capital, current income and long-term growth of capital and income.

The fund has 21 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund's share classes are described further in the following table:

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Initial sales charge** | &nbsp;&nbsp; **Contingent deferred sales** <br>**charge upon redemption**<br>| **Conversion feature** |
| Classes A and 529-A | &nbsp;&nbsp; Up to 5.75% for <br> Class A; up to 3.50% for <br> Class 529-A<br>| &nbsp;&nbsp; None (except 1.00% for certain <br> redemptions within 18 months of purchase <br> without an initial sales charge)<br>|  |
| Classes C and 529-C |  | &nbsp;&nbsp; 1.00% for redemptions within one year of <br> purchase<br>| &nbsp;&nbsp; Class C converts to Class A <br> after eight years and Class 529-C <br> converts to Class 529-A after five years<br>|
| Class 529-E |  |  |  |
| Classes T and 529-T\* | Up to 2.50% |  |  |
| Classes F-1, F-2, F-3, 529-F-1, <br> 529-F-2 and 529-F-3<br>|  |  |  |
| Classes R-1, R-2, R-2E, R-3, R-4, <br> R-5E, R-5 and R-6<br>|  |  |  |

---

\*

Class T and 529-T shares are not available for purchase.

Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class 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.

**2. Significant accounting policies**

------

The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). The fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the fund's 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 fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Operating segments** — The fund represents a single operating segment as the operating results of the fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the fund's portfolio management team. A senior executive team comprised of the fund's Principal Executive Officer and Principal Financial Officer, serves as the fund's chief operating decision maker ("CODM"), who act in accordance with Board of Trustee reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess the fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

---

| | |
|:---|:---|
| **73** | American Balanced Fund |

---

------

**Security transactions and related investment income** — Security transactions are recorded by the fund 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 fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and 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), realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes 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.

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on the ex-dividend date.

**Currency translation** — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund's statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

**New accounting pronouncements** — In December 2023, the FASB issued Accounting Standards Update 2023-09 ("the ASU"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures, including disclosure of income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management is currently evaluating the ASU and its impact to the financial statements.

**3. Valuation**

------

Capital Research and Management Company ("CRMC"), the fund's investment adviser, values the fund's investments at fair value as defined by U.S. GAAP. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

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

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.

---

| | |
|:---|:---|
| American Balanced Fund | **74** |

---

------

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| All | &nbsp;&nbsp; Benchmark yields, transactions, bids, offers, quotations from dealers and <br> trading systems, new issues, spreads and other relationships observed in <br> the markets among comparable securities; and proprietary pricing models <br> such as yield measures calculated using factors such as cash flows, financial <br> or collateral performance and other reference data (collectively referred to <br> as "standard inputs")<br>|
| Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| Mortgage-backed; asset-backed obligations | &nbsp;&nbsp; Standard inputs and cash flows, prepayment information, default rates, <br> delinquency and loss assumptions, collateral characteristics, credit <br> enhancements and specific deal information<br>|
| Municipal securities | &nbsp;&nbsp; Standard inputs and, for certain distressed securities, cash flows or <br> liquidation values using a net present value calculation based on inputs that <br> include, but are not limited to, financial statements and debt contracts <br>|

---

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund's investment adviser. The Capital Group Central Corporate Bond Fund ("CCBF"), a fund within the Capital Group Central Fund Series II, and Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series (collectively the "Central Funds"), are each valued based upon a floating net asset value, which fluctuates with changes in the value of each fund's portfolio securities. The underlying securities are valued based on the policies and procedures in the Central Funds' statements of additional information. Exchange-traded futures are generally valued at the official settlement price on the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, and terms of the contract.

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

**Processes and structure** — The fund's board of trustees has designated the fund's investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. The fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

---

| | |
|:---|:---|
| **75** | American Balanced Fund |

---

------

**Classifications** — The fund's investment adviser classifies the fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The fund's valuation levels as of June 30, 2025, were as follows (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology | $43919258 | $— | $— | $43919258 |
| Financials | 22224626 |  |  | 22224626 |
| Industrials | 19415719 |  |  | 19415719 |
| Communication services | 16497284 |  |  | 16497284 |
| Health care | 15251790 |  |  | 15251790 |
| Consumer staples | 13747588 |  |  | 13747588 |
| Consumer discretionary | 11140830 |  |  | 11140830 |
| Energy | 6196509 |  |  | 6196509 |
| Materials | 5833507 |  |  | 5833507 |
| Utilities | 4108229 |  |  | 4108229 |
| Real estate | 2533545 |  |  | 2533545 |
| Preferred securities  | 152266 |  |  | 152266 |
| Convertible stocks  | 899801 |  |  | 899801 |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations |  | 29003980 |  | 29003980 |
| Corporate bonds, notes & loans |  | 19472968 |  | 19472968 |
| U.S. Treasury bonds & notes |  | 16925843 |  | 16925843 |
| Asset-backed obligations |  | 7030253 |  | 7030253 |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 1601376 |  | 1601376 |
| Municipals |  | 654738 |  | 654738 |
| Federal agency bonds & notes |  | 102502 |  | 102502 |
| Investment funds  | 6532560 |  |  | 6532560 |
| Short-term securities  | 10759218 | 19991 |  | 10779209 |
| Total | $179212730 | $74811651 | $— | $254024381 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $308491 | $— | $— | $308491 |
| Unrealized appreciation on open forward currency contracts |  | 129 |  | 129 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 179920 |  | 179920 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (43941)<br>|  |  | (43941)<br>|
| Unrealized depreciation on open forward currency contracts |  | (19365)<br>|  | (19365)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (40732)<br>|  | (40732)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (26150)<br>|  | (26150)<br>|
| Total  | $264550 | $93802 | $— | $358352 |

---

\*

Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the fund's investment portfolio.

---

| | |
|:---|:---|
| American Balanced Fund | **76** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Risk factors**

------

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

**Market conditions** — The prices of, and the income generated by, the common stocks, bonds and other securities held by the fund 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; levels of public debt and deficits; changes in inflation rates; 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), bank failures 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 fund's 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 fund 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 the issuer's 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. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

**Investing in growth-oriented stocks** — Growth-oriented common stocks and other equity-type securities (such as preferred stocks, convertible preferred stocks and convertible bonds) may involve larger price swings and greater potential for loss than other types of investments.

**Investing in income-oriented stocks** — The value of the fund's securities and income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.

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

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities that may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change 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 fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund 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 fund invests. 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 fund's investment adviser relies on its own credit analysts to research issuers and issues in assessing credit and default risks.

---

| | |
|:---|:---|
| **77** | American Balanced Fund |

---

------

**Investing in securities backed by the U.S. government** — U.S. government securities are subject to market risk, interest rate risk and credit risk. Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Notwithstanding that these securities are backed by the full faith and credit of the U.S. government, circumstances could arise that would prevent or delay the payment of interest or principal on these securities, which could adversely affect their value and cause the fund to suffer losses. Such an event could lead to significant disruptions in U.S. and global markets. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.

**Investing in mortgage-related and other asset-backed securities** — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund's net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund's income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund's cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar 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. 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.

**Investing outside the U.S.** — Securities of issuers domiciled outside the U.S. or with significant operations or revenues outside the U.S., and securities tied economically to countries outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different regulatory, legal, accounting, auditing, financial reporting and recordkeeping requirements, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.

**Management** — The investment adviser to the fund actively manages the fund's investments. Consequently, the fund is 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 fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

**5. Certain investment techniques**

------

**Securities lending** — The fund has entered into securities lending transactions in which the fund earns income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

---

| | |
|:---|:---|
| American Balanced Fund | **78** |

---

------

Securities lending transactions are entered into by the fund under a securities lending agent agreement with the lending agent. The lending agent facilitates the exchange of securities between the fund and approved borrowers, ensures that securities loans are properly coordinated and documented, marks-to-market the value of collateral daily, secures additional collateral from a borrower if it falls below preset terms, and may reinvest cash collateral on behalf of the fund according to agreed parameters. The lending agent provides indemnification to the fund against losses resulting from a borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if a borrower fails to return securities, collateral investments decline in value or the lending agent fails to perform.

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund's investment portfolio. The same amount is recorded as a liability in the fund's statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote. A borrower is obligated to return loaned securities at the conclusion of a loan or, during the pendency of a loan, on demand from the fund.

As of June 30, 2025, the total value of securities on loan was $155,712,000, and the total value of collateral received was $161,323,000. Collateral received includes cash of $76,952,000 and U.S. government securities of $84,371,000. Investment securities purchased from cash collateral are disclosed in the fund's investment portfolio as short-term securities. Securities received as collateral are not recognized as fund assets. The contractual maturity of cash collateral received under the securities lending agreement is classified as overnight and continuous.

**Index-linked bonds** — The fund has invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund's statement of operations.

**Mortgage dollar rolls** — The fund has entered into mortgage dollar roll transactions of TBA securities in which the fund sells a TBA mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar TBA security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions and may result in an increase to the fund's portfolio turnover rate. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the fund's financial highlights table.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Futures contracts** — The 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, the 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, the 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 the fund's statement of assets and liabilities. The 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 the fund's statement of operations. The average month-end notional amount of futures contracts while held was $38,211,442,000.

**Forward currency contracts —** The fund has entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The fund's investment adviser uses forward currency contracts to manage the fund's exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.

---

| | |
|:---|:---|
| **79** | American Balanced Fund |

---

------

On a daily basis, the fund's investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in the fund's statement of assets and liabilities. Realized gains or losses are recorded at the time the forward currency contract is closed or offset by another contract with the same broker for the same settlement date and currency.

Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund's statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund's statement of operations. The average month-end notional amount of open forward currency contracts while held was $480,526,000.

**Swap contracts** — The fund has entered into swap agreements, which are two-party contracts entered into primarily by institutional investors for a specified time period. In a typical swap transaction, two parties agree to exchange the returns earned or realized from one or more underlying assets or rates of return. Swap agreements can be traded on a swap execution facility (SEF) and cleared through a central clearinghouse (cleared), traded over-the-counter (OTC) and cleared, or traded bilaterally and not cleared. Because clearing interposes a central clearinghouse as the ultimate counterparty to each participant's swap, and margin is required to be exchanged under the rules of the clearinghouse, central clearing is intended to decrease (but not eliminate) counterparty risk relative to uncleared bilateral swaps. To the extent the fund enters into bilaterally negotiated swap transactions, the fund will enter into swap agreements only with counterparties that meet certain credit standards and subject to agreed collateralized procedures. The term of a swap can be days, months or years and certain swaps may be less liquid than others.

Upon entering into a centrally cleared swap contract, the fund is required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.

On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the fund's statement of assets and liabilities for centrally cleared swaps and as unrealized appreciation or depreciation in the fund's statement of assets and liabilities for bilateral swaps. For centrally cleared swaps, the fund also pays or receives a variation margin based on the increase or decrease in the value of the swaps, including accrued interest as applicable, and records variation margin in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from swaps are recorded in the fund's statement of operations.

Swap agreements can take different forms. The fund has entered into the following types of swap agreements:

**Interest rate swaps** — The fund has entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark, or on an inflation index such as the U.S. Consumer Price Index (which is a measure that examines the weighted average of prices of a basket of consumer goods and services and measures changes in the purchasing power of the U.S. dollar and the rate of inflation). In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the fund's current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party. The average month-end notional amount of interest rate swaps while held was $29,706,462,000.

---

| | |
|:---|:---|
| American Balanced Fund | **80** |

---

------

**Credit default swap indices** — The fund has entered into centrally cleared credit default swap indices, including CDX and iTraxx indices (collectively referred to as "CDSI"), in order to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks. A CDSI is based on a portfolio of credit default swaps with similar characteristics, such as credit default swaps on high-yield bonds. In a typical CDSI transaction, one party (the protection buyer) is obligated to pay the other party (the protection seller) a stream of periodic payments over the term of the contract. If a credit event, such as a default or restructuring, occurs with respect to any of the underlying reference obligations, the protection seller must pay the protection buyer the loss on those credits.

The fund may enter into a CDSI transaction as either protection buyer or protection seller. If the fund is a protection buyer, it would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the fund, as a protection buyer, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As a protection seller, the fund would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the fund, coupled with the periodic payments previously received by the fund, may be less than the full notional value that the fund, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the fund. Furthermore, as a protection seller, the fund would effectively add leverage to its portfolio because it would have investment exposure to the notional amount of the swap transaction. The average month-end notional amount of credit default swaps while held was $4,089,258,000.

The following tables identify the location and fair value amounts on the fund's statement of assets and liabilities and the effect on the fund's statement of operations resulting from the fund's use of futures contracts, forward currency contracts, interest rate swaps and credit default swaps as of, or for the six months ended, June 30, 2025 (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Futures | Interest | Unrealized appreciation\* | $308491 | Unrealized depreciation\* | $43941 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open forward <br> currency contracts<br>| 129 | &nbsp;&nbsp; Unrealized depreciation on open forward <br> currency contracts<br>| 19365 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 179920 | Unrealized depreciation\* | 40732 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation\* |  | Unrealized depreciation\* | 26150 |
|  |  |  | $488540 |  | $130188 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of operations** | **Value** | **Location on statement of operations** | **Value** |
| Futures | Interest | Net realized gain (loss) on futures contracts | $(212653)<br>| &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on futures contracts<br>| $507869 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| (55525)<br>| &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on forward currency contracts<br>| (25365)<br>|
| Swap | Interest | Net realized gain (loss) on swap contracts | 3964 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on swap contracts<br>| 20081 |
| Swap | Credit | Net realized gain (loss) on swap contracts | 7083 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on swap contracts<br>| (26978)<br>|
|  |  |  | $(257131)<br>|  | $475607 |

---

\*

Includes cumulative appreciation/depreciation on futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps as reported in the applicable tables following the fund's investment portfolio. Only current day's variation margin is reported within the fund's statement of assets and liabilities.

---

| | |
|:---|:---|
| **81** | American Balanced Fund |

---

------

**Collateral** — The fund receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to securities lending and its use of futures contracts, forward currency contracts, interest rate swaps, credit default swaps and future delivery contracts. For securities lending, the fund receives collateral in exchange for lending investment securities. The lending agent may reinvest cash collateral from securities lending transactions according to agreed parameters. Cash collateral reinvested by the lending agent, if any, is disclosed in the fund's investment portfolio. For futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by certain counterparties. 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 the fund, if any, is disclosed in the fund's investment portfolio, and cash collateral pledged by the fund, if any, is held in a segregated account with the fund's custodian, which is reflected as pledged cash collateral in the fund's statement of assets and liabilities.

**Rights of offset** — The fund has entered into enforceable master netting agreements with certain counterparties for forward currency contracts, where on any date amounts payable by each party to the other (in the same currency with respect to the same transaction) may be closed or offset by each party's payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency ("close-out netting"). For financial reporting purposes, the fund does not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statement of assets and liabilities.

The following table presents the fund's forward currency contracts by counterparty that are subject to master netting agreements but that are not offset in the fund's statement of assets and liabilities. The net amount column shows the impact of offsetting on the fund's statement of assets and liabilities as of June 30, 2025, if close-out netting was exercised (dollars in thousands):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| HSBC Bank | &nbsp;&nbsp; $97<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| JPMorgan Chase | &nbsp;&nbsp; 32<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total | &nbsp;&nbsp; $129<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(32)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| Liabilities: |  |  |  |  |  |
| Bank of America | &nbsp;&nbsp; $578<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(262)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $316 |
| BNP Paribas | &nbsp;&nbsp; 3162<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2509)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 |
| Citibank | &nbsp;&nbsp; 2395<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1897)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498 |
| HSBC Bank | &nbsp;&nbsp; 101<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4<br>|
| Standard Chartered Bank | &nbsp;&nbsp; 10409<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8249)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2160 |
| UBS AG | &nbsp;&nbsp; 2720<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1372)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1348 |
| Total | &nbsp;&nbsp; $19365<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(97)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(14289)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4979 |

---

\*

Collateral is shown on a settlement basis.

**6. Taxation and distributions**

------

**Federal income taxation** — The 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 taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the period ended June 30, 2025, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any significant interest or penalties.

The 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.

---

| | |
|:---|:---|
| American Balanced Fund | **82** |

---

------

**Non-U.S. taxation** — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the fund filed for additional reclaims related to prior years ("EU reclaims"). These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The fund generally records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**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 currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; paydowns on fixed-income securities 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 fund for financial reporting purposes.

The components of distributable earnings on a tax basis are reported as of the fund's most recent year-end. As of December 31, 2024, the components of distributable earnings on a tax basis were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Undistributed ordinary income | $1936497 |
| Undistributed long-term capital gains | 1325451 |

---

As of June 30, 2025, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Gross unrealized appreciation on investments | $80907275 |
| Gross unrealized depreciation on investments | (4609924)<br>|
| Net unrealized appreciation (depreciation) on investments | 76297351 |
| Cost of investments | 178138503 |

---

Distributions paid were characterized for tax purposes as follows (dollars in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid** <br>|
| Class A | &nbsp;&nbsp; $696164 | $614446 | $1310610 | &nbsp;&nbsp;&nbsp;&nbsp; $2190423 | $5295497 | $7485920 |
| Class C | &nbsp;&nbsp; 20710 | 42892 | 63602 | &nbsp;&nbsp;&nbsp;&nbsp; 106371 | 393077 | 499448 |
| Class T | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| 1 | 1 |
| Class F-1 | &nbsp;&nbsp; 24549 | 22736 | 47285 | &nbsp;&nbsp;&nbsp;&nbsp; 81265 | 199359 | 280624 |
| Class F-2 | &nbsp;&nbsp; 222803 | 172606 | 395409 | &nbsp;&nbsp;&nbsp;&nbsp; 646689 | 1443081 | 2089770 |
| Class F-3 | &nbsp;&nbsp; 99903 | 71450 | 171353 | &nbsp;&nbsp;&nbsp;&nbsp; 284291 | 608336 | 892627 |
| Class 529-A | &nbsp;&nbsp; 35954 | 32576 | 68530 | &nbsp;&nbsp;&nbsp;&nbsp; 114830 | 281087 | 395917 |
| Class 529-C | &nbsp;&nbsp; 583 | 1316 | 1899 | &nbsp;&nbsp;&nbsp;&nbsp; 3120 | 11970 | 15090 |
| Class 529-E | &nbsp;&nbsp; 877 | 975 | 1852 | &nbsp;&nbsp;&nbsp;&nbsp; 3155 | 8626 | 11781 |
| Class 529-T | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 | 1 | 2 |
| Class 529-F-1 | &nbsp;&nbsp; —<br> \*<br>| —<br> \*<br>| —<br> \*<br>| &nbsp;&nbsp;&nbsp;&nbsp; —<br> \*<br>| 1 | 1 |
| Class 529-F-2 | &nbsp;&nbsp; 4409 | 3380 | 7789 | &nbsp;&nbsp;&nbsp;&nbsp; 12195 | 27352 | 39547 |
| Class 529-F-3 | &nbsp;&nbsp; 17 | 12 | 29 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | 94 | 133 |
| Class R-1 | &nbsp;&nbsp; 507 | 1119 | 1626 | &nbsp;&nbsp;&nbsp;&nbsp; 2651 | 10012 | 12663 |
| Class R-2 | &nbsp;&nbsp; 2906 | 6315 | 9221 | &nbsp;&nbsp;&nbsp;&nbsp; 14748 | 55645 | 70393 |
| Class R-2E | &nbsp;&nbsp; 641 | 909 | 1550 | &nbsp;&nbsp;&nbsp;&nbsp; 2474 | 7707 | 10181 |
| Class R-3 | &nbsp;&nbsp; 11348 | 13473 | 24821 | &nbsp;&nbsp;&nbsp;&nbsp; 42265 | 120040 | 162305 |
| Class R-4 | &nbsp;&nbsp; 25138 | 22668 | 47806 | &nbsp;&nbsp;&nbsp;&nbsp; 84030 | 203105 | 287135 |
| Class R-5E | &nbsp;&nbsp; 4473 | 3516 | 7989 | &nbsp;&nbsp;&nbsp;&nbsp; 13506 | 29606 | 43112 |
| Class R-5 | &nbsp;&nbsp; 8495 | 6178 | 14673 | &nbsp;&nbsp;&nbsp;&nbsp; 23861 | 50355 | 74216 |
| Class R-6 | &nbsp;&nbsp; 434587 | 311226 | 745813 | &nbsp;&nbsp;&nbsp;&nbsp; 1255599 | 2657957 | 3913556 |
| Total | &nbsp;&nbsp; $1594064 | $1327793 | $2921857 | &nbsp;&nbsp;&nbsp;&nbsp; $4881513 | $11402909 | $16284422 |

---

\*

Amount less than one thousand.

---

| | |
|:---|:---|
| **83** | American Balanced Fund |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

------

CRMC, the fund's investment adviser, is the parent company of Capital Client Group, Inc. ("CCG"), the principal underwriter of the fund's shares, and American Funds Service Company® ("AFS"), the fund's transfer agent. CRMC, CCG and AFS are considered related parties to the fund.

**Investment advisory services** — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.420% on the first $500 million of daily net assets and decreasing to 0.199% on such assets in excess of $233 billion. For the six months ended June 30, 2025, the investment advisory services fees were $250,341,000, which were equivalent to an annualized rate of 0.212% of average daily net assets.

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

**Distribution services** — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the 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, ranging from 0.25% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate CCG for paying service fees, to firms that have entered into agreements with CCG 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.

---

| | | |
|:---|:---|:---|
| **Share class** | **Currently approved limits** | **Plan limits** |
| Class A | 0.25<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25<br> %<br>|
| Class 529-A | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Classes C, 529-C and R-1 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |
| Class R-2 | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |
| Class R-2E | 0.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.85 |
| Classes 529-E and R-3 | 0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Classes T, F-1, 529-T, 529-F-1 and R-4 | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |

---

For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by CCG for certain shares sold without a sales charge. These share classes reimburse CCG for amounts billed within the prior 15 months but only to the extent that the overall annual expense limits are not exceeded. As of June 30, 2025, unreimbursed expenses subject to reimbursement totaled $20,260,000 for Class A shares. There were no unreimbursed expenses subject to reimbursement for Class 529-A shares.

**Transfer agent services** — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund's share classes. These services include recordkeeping, shareholder communications and transaction processing. Under this agreement, the fund also pays sub-transfer agency fees to AFS. These fees are paid by AFS to third parties for performing transfer agent services on behalf of fund shareholders.

**Administrative services** — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all 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 the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the 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 the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of the average daily net assets attributable to each share class of the fund for CRMC's provision of administrative services.

**529 plan services** — Each 529 share class is subject to service fees to compensate the Commonwealth Savers Plan (formerly, Virginia529) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fees are based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by Commonwealth Savers Plan through ABLEAmerica®, a tax-advantaged savings program for individuals with disabilities. Commonwealth Savers Plan is not considered a related party to the fund.

---

| | |
|:---|:---|
| American Balanced Fund | **84** |

---

------

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the six months ended June 30, 2025, the 529 plan services fees were $1,824,000, which were equivalent to 0.054% of the average daily net assets of each 529 share class.

For the six months ended June 30, 2025, class-specific expenses under the agreements were as follows (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Transfer agent** <br>**services**<br>| **Administrative** <br>**services**<br>| **529 plan** <br>**services**<br>|
| Class A | $136827 | $32499 | $16419 | Not applicable |
| Class C | 38811 | 2321 | 1164 | Not applicable |
| Class T |  | —<br> \*<br>| —<br> \*<br>| Not applicable |
| Class F-1 | 5017 | 2508 | 610 | Not applicable |
| Class F-2 | Not applicable | 17237 | 4536 | Not applicable |
| Class F-3 | Not applicable | 74 | 1896 | Not applicable |
| Class 529-A | 6695 | 1565 | 867 | $1554 |
| Class 529-C | 1179 | 66 | 36 | 64 |
| Class 529-E | 427 | 28 | 26 | 47 |
| Class 529-T |  | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-1 |  | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-2 | Not applicable | 115 | 88 | 158 |
| Class 529-F-3 | Not applicable | —<br> \*<br>| —<br> \*<br>| 1 |
| Class R-1 | 990 | 87 | 30 | Not applicable |
| Class R-2 | 4213 | 1867 | 169 | Not applicable |
| Class R-2E | 480 | 158 | 24 | Not applicable |
| Class R-3 | 6019 | 1766 | 362 | Not applicable |
| Class R-4 | 5132 | 2069 | 616 | Not applicable |
| Class R-5E | Not applicable | 464 | 94 | Not applicable |
| Class R-5 | Not applicable | 304 | 165 | Not applicable |
| Class R-6 | Not applicable | 321 | 8266 | Not applicable |
| Total class-specific expenses | $205790 | $63449 | $35368 | $1824 |

---

\*

Amount less than one thousand.

**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 the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees' compensation of $615,000 in the fund's statement of operations reflects $459,000 in current fees (either paid in cash or deferred) and a net increase of $156,000 in the value of the deferred amounts.

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

**Investments in CCBF and CCF** — The fund holds shares of CCBF, a corporate bond fund, and CCF, an institutional prime money market fund, which are both managed by CRMC. CCBF seeks to provide maximum total return consistent with capital preservation and prudent risk management by investing primarily in corporate debt instruments. CCBF is used as an investment vehicle for the fund's corporate bond investments. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund's short-term instruments. Both CCBF and CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from either CCBF or CCF.

**Security transactions with related funds** — The fund purchased investment securities from, and sold investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the 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. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended June 30, 2025, the fund engaged in such purchase and sale transactions with related funds in the amounts of $1,105,776,000 and $857,139,000, respectively, which generated $115,191,000 of net realized gains from such sales.

---

| | |
|:---|:---|
| **85** | American Balanced Fund |

---

------

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the fund, 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. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended June 30, 2025.

**8. Indemnifications**

------

The 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, the fund may also enter into contracts that provide general indemnifications. The 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 the fund's board members and officers.

**9. Capital share transactions**

------

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **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** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class A | $4471602 | 128853 | &nbsp;&nbsp;&nbsp; $1292231 | 36746 | &nbsp;&nbsp;&nbsp; $(6600364)<br>| (190339)<br>| &nbsp;&nbsp;&nbsp; $(836531)<br>| (24740)<br>|
| Class C | 529704 | 15380 | &nbsp;&nbsp;&nbsp; 63254 | 1806 | &nbsp;&nbsp;&nbsp; (1234319)<br>| (35996)<br>| &nbsp;&nbsp;&nbsp; (641361)<br>| (18810)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 180649 | 5208 | &nbsp;&nbsp;&nbsp; 46894 | 1335 | &nbsp;&nbsp;&nbsp; (326413)<br>| (9435)<br>| &nbsp;&nbsp;&nbsp; (98870)<br>| (2892)<br>|
| Class F-2 | 3307626 | 95297 | &nbsp;&nbsp;&nbsp; 381750 | 10874 | &nbsp;&nbsp;&nbsp; (2847072)<br>| (82081)<br>| &nbsp;&nbsp;&nbsp; 842304 | 24090 |
| Class F-3 | 1187852 | 34188 | &nbsp;&nbsp;&nbsp; 169783 | 4838 | &nbsp;&nbsp;&nbsp; (1253327)<br>| (36119)<br>| &nbsp;&nbsp;&nbsp; 104308 | 2907 |
| Class 529-A | 318903 | 9208 | &nbsp;&nbsp;&nbsp; 68503 | 1952 | &nbsp;&nbsp;&nbsp; (442712)<br>| (12789)<br>| &nbsp;&nbsp;&nbsp; (55306)<br>| (1629)<br>|
| Class 529-C | 27311 | 787 | &nbsp;&nbsp;&nbsp; 1897 | 54 | &nbsp;&nbsp;&nbsp; (50095)<br>| (1448)<br>| &nbsp;&nbsp;&nbsp; (20887)<br>| (607)<br>|
| Class 529-E | 8590 | 248 | &nbsp;&nbsp;&nbsp; 1851 | 52 | &nbsp;&nbsp;&nbsp; (16318)<br>| (472)<br>| &nbsp;&nbsp;&nbsp; (5877)<br>| (172)<br>|
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-2 | 72757 | 2098 | &nbsp;&nbsp;&nbsp; 7788 | 222 | &nbsp;&nbsp;&nbsp; (50652)<br>| (1457)<br>| &nbsp;&nbsp;&nbsp; 29893 | 863 |
| Class 529-F-3 | 647 | 18 | &nbsp;&nbsp;&nbsp; 29 | 1 | &nbsp;&nbsp;&nbsp; (461)<br>| (13)<br>| &nbsp;&nbsp;&nbsp; 215 | 6 |
| Class R-1 | 10231 | 299 | &nbsp;&nbsp;&nbsp; 1625 | 46 | &nbsp;&nbsp;&nbsp; (21882)<br>| (632)<br>| &nbsp;&nbsp;&nbsp; (10026)<br>| (287)<br>|
| Class R-2 | 80046 | 2329 | &nbsp;&nbsp;&nbsp; 9203 | 263 | &nbsp;&nbsp;&nbsp; (134528)<br>| (3913)<br>| &nbsp;&nbsp;&nbsp; (45279)<br>| (1321)<br>|
| Class R-2E | 16871 | 490 | &nbsp;&nbsp;&nbsp; 1550 | 44 | &nbsp;&nbsp;&nbsp; (17969)<br>| (522)<br>| &nbsp;&nbsp;&nbsp; 452 | 12 |
| Class R-3 | 179108 | 5206 | &nbsp;&nbsp;&nbsp; 24795 | 709 | &nbsp;&nbsp;&nbsp; (294238)<br>| (8557)<br>| &nbsp;&nbsp;&nbsp; (90335)<br>| (2642)<br>|
| Class R-4 | 233408 | 6720 | &nbsp;&nbsp;&nbsp; 47801 | 1362 | &nbsp;&nbsp;&nbsp; (499722)<br>| (14427)<br>| &nbsp;&nbsp;&nbsp; (218513)<br>| (6345)<br>|
| Class R-5E | 74403 | 2164 | &nbsp;&nbsp;&nbsp; 7981 | 227 | &nbsp;&nbsp;&nbsp; (74568)<br>| (2155)<br>| &nbsp;&nbsp;&nbsp; 7816 | 236 |
| Class R-5 | 166733 | 4745 | &nbsp;&nbsp;&nbsp; 14585 | 415 | &nbsp;&nbsp;&nbsp; (125439)<br>| (3640)<br>| &nbsp;&nbsp;&nbsp; 55879 | 1520 |
| Class R-6 | 2650108 | 76133 | &nbsp;&nbsp;&nbsp; 745633 | 21223 | &nbsp;&nbsp;&nbsp; (3421957)<br>| (98215)<br>| &nbsp;&nbsp;&nbsp; (26216)<br>| (859)<br>|
| Total net increase <br> (decrease)<br>| $13516549 | 389371 | &nbsp;&nbsp;&nbsp; $2887153 | 82169 | &nbsp;&nbsp;&nbsp; $(17412036)<br>| (502210)<br>| &nbsp;&nbsp;&nbsp; $(1008334)<br>| (30670)<br>|

---

Refer to the end of the table(s) for footnote(s).

---

| | |
|:---|:---|
| American Balanced Fund | **86** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **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** |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class A | $8523280 | 247423 | &nbsp;&nbsp;&nbsp; $7381678 | 209979 | &nbsp;&nbsp;&nbsp; $(12370857)<br>| (358847)<br>| &nbsp;&nbsp;&nbsp; $3534101 | 98555 |
| Class C | 1029548 | 30121 | &nbsp;&nbsp;&nbsp; 496917 | 14226 | &nbsp;&nbsp;&nbsp; (2435144)<br>| (71437)<br>| &nbsp;&nbsp;&nbsp; (908679)<br>| (27090)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 363843 | 10602 | &nbsp;&nbsp;&nbsp; 278370 | 7928 | &nbsp;&nbsp;&nbsp; (772661)<br>| (22560)<br>| &nbsp;&nbsp;&nbsp; (130448)<br>| (4030)<br>|
| Class F-2 | 5848375 | 170024 | &nbsp;&nbsp;&nbsp; 2017818 | 57479 | &nbsp;&nbsp;&nbsp; (5140402)<br>| (149242)<br>| &nbsp;&nbsp;&nbsp; 2725791 | 78261 |
| Class F-3 | 2363650 | 68435 | &nbsp;&nbsp;&nbsp; 884532 | 25188 | &nbsp;&nbsp;&nbsp; (2134696)<br>| (61992)<br>| &nbsp;&nbsp;&nbsp; 1113486 | 31631 |
| Class 529-A | 672615 | 19585 | &nbsp;&nbsp;&nbsp; 395751 | 11283 | &nbsp;&nbsp;&nbsp; (956015)<br>| (27830)<br>| &nbsp;&nbsp;&nbsp; 112351 | 3038 |
| Class 529-C | 63690 | 1856 | &nbsp;&nbsp;&nbsp; 15079 | 428 | &nbsp;&nbsp;&nbsp; (112501)<br>| (3278)<br>| &nbsp;&nbsp;&nbsp; (33732)<br>| (994)<br>|
| Class 529-E | 20636 | 604 | &nbsp;&nbsp;&nbsp; 11773 | 336 | &nbsp;&nbsp;&nbsp; (38946)<br>| (1131)<br>| &nbsp;&nbsp;&nbsp; (6537)<br>| (191)<br>|
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | 1 | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | 1 |
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>|
| Class 529-F-2 | 131033 | 3799 | &nbsp;&nbsp;&nbsp; 39532 | 1125 | &nbsp;&nbsp;&nbsp; (98323)<br>| (2853)<br>| &nbsp;&nbsp;&nbsp; 72242 | 2071 |
| Class 529-F-3 | 1082 | 31 | &nbsp;&nbsp;&nbsp; 133 | 4 | &nbsp;&nbsp;&nbsp; (243)<br>| (7)<br>| &nbsp;&nbsp;&nbsp; 972 | 28 |
| Class R-1 | 26461 | 778 | &nbsp;&nbsp;&nbsp; 12655 | 362 | &nbsp;&nbsp;&nbsp; (36672)<br>| (1071)<br>| &nbsp;&nbsp;&nbsp; 2444 | 69 |
| Class R-2 | 169235 | 4965 | &nbsp;&nbsp;&nbsp; 70310 | 2013 | &nbsp;&nbsp;&nbsp; (276381)<br>| (8123)<br>| &nbsp;&nbsp;&nbsp; (36836)<br>| (1145)<br>|
| Class R-2E | 33805 | 995 | &nbsp;&nbsp;&nbsp; 10181 | 291 | &nbsp;&nbsp;&nbsp; (38616)<br>| (1134)<br>| &nbsp;&nbsp;&nbsp; 5370 | 152 |
| Class R-3 | 374115 | 10933 | &nbsp;&nbsp;&nbsp; 162133 | 4639 | &nbsp;&nbsp;&nbsp; (600820)<br>| (17572)<br>| &nbsp;&nbsp;&nbsp; (64572)<br>| (2000)<br>|
| Class R-4 | 460689 | 13400 | &nbsp;&nbsp;&nbsp; 287115 | 8185 | &nbsp;&nbsp;&nbsp; (944044)<br>| (27527)<br>| &nbsp;&nbsp;&nbsp; (196240)<br>| (5942)<br>|
| Class R-5E | 138259 | 4016 | &nbsp;&nbsp;&nbsp; 43054 | 1227 | &nbsp;&nbsp;&nbsp; (252789)<br>| (7530)<br>| &nbsp;&nbsp;&nbsp; (71476)<br>| (2287)<br>|
| Class R-5 | 160447 | 4665 | &nbsp;&nbsp;&nbsp; 73926 | 2101 | &nbsp;&nbsp;&nbsp; (253514)<br>| (7346)<br>| &nbsp;&nbsp;&nbsp; (19141)<br>| (580)<br>|
| Class R-6 | 5675070 | 165388 | &nbsp;&nbsp;&nbsp; 3912617 | 111332 | &nbsp;&nbsp;&nbsp; (6097205)<br>| (177562)<br>| &nbsp;&nbsp;&nbsp; 3490482 | 99158 |
| Total net increase <br> (decrease)<br>| $26055833 | 757620 | &nbsp;&nbsp;&nbsp; $16093576 | 458127 | &nbsp;&nbsp;&nbsp; $(32559829)<br>| (947042)<br>| &nbsp;&nbsp;&nbsp; $9589580 | 268705 |

---

\*

Includes exchanges between share classes of the fund.

<sup>†</sup>

Amount less than one thousand.

**10. Investment transactions**

------

The fund engaged in purchases and sales of investment securities, excluding short-term securities and U.S. government obligations,

if any, of $116,924,973,000 and $119,611,254,000, respectively, during the six months ended June 30, 2025.

---

| | |
|:---|:---|
| **87** | American Balanced Fund |

---

------

Financial highlights

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **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**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| <br>**Net asset** <br>**value, end** <br>**of year**<br>| <br>**Total return**<sup>2</sup> <br>| <br>**Net assets,** <br>**end of year** <br>**(in millions)** <br>| <br>**Ratio of** <br>**expenses to** <br>**average** <br>**net assets**<sup>3</sup> <br>| <br>**Ratio of** <br>**net income** <br>**(loss) to** <br>**average** <br>**net assets**<br>|
| **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  |
| 6/30/2025<sup>4,5</sup> <br>| $34.34 | &nbsp;&nbsp; $.39 | &nbsp;&nbsp; $2.38 | &nbsp;&nbsp; $2.77 | &nbsp;&nbsp; $(.22)<br>| &nbsp;&nbsp; $(.20)<br>| &nbsp;&nbsp; $(.42)<br>| &nbsp;&nbsp; $36.69 | 8.11 %<sup>6</sup><br>| &nbsp;&nbsp; $116225 | &nbsp;&nbsp; .56 %<sup>7</sup><br>| 2.24 %<sup>7</sup><br>|
| 12/31/2024 | 31.99 | &nbsp;&nbsp; .77 | 4.05 | 4.82 | &nbsp;&nbsp; (.72)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.47)<br>| 34.34 | 14.95 | &nbsp;&nbsp; 109637 | &nbsp;&nbsp; .56 | 2.24 |
| 12/31/2023 | 28.76 | &nbsp;&nbsp; .72 | 3.27 | 3.99 | &nbsp;&nbsp; (.76)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.76)<br>| 31.99 | 14.01 | &nbsp;&nbsp; 98985 | &nbsp;&nbsp; .57 | 2.39 |
| 12/31/2022 | 33.47 | &nbsp;&nbsp; .64 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (4.04)<br>| &nbsp;&nbsp; (.49)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.67)<br>| 28.76 | &nbsp;&nbsp; (12.11)<br>| &nbsp;&nbsp; 90861 | &nbsp;&nbsp; .56 | 2.13 |
| 12/31/2021 | 30.20 | &nbsp;&nbsp; .49 | 4.22 | 4.71 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.44)<br>| 33.47 | 15.77 | &nbsp;&nbsp; 105787 | &nbsp;&nbsp; .56 | 1.50 |
| 12/31/2020 | 28.50 | &nbsp;&nbsp; .48 | 2.53 | 3.01 | &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.31)<br>| 30.20 | 10.85 | &nbsp;&nbsp; 88070 | &nbsp;&nbsp; .58 | 1.68 |
| **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.06 | &nbsp;&nbsp; .25 | 2.36 | 2.61 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.29)<br>| 36.38 | 7.72 <br><sup>6</sup><br>| &nbsp;&nbsp; 7947 | 1.31 <br><sup>7</sup><br>| 1.48 <br><sup>7</sup><br>|
| 12/31/2024 | 31.74 | &nbsp;&nbsp; .51 | 4.02 | 4.53 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.21)<br>| 34.06 | 14.08 | &nbsp;&nbsp; 8080 | 1.31 | 1.49 |
| 12/31/2023 | 28.55 | &nbsp;&nbsp; .48 | 3.24 | 3.72 | &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.53)<br>| 31.74 | 13.12 | &nbsp;&nbsp; 8391 | 1.32 | 1.63 |
| 12/31/2022 | 33.22 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (4.64)<br>| &nbsp;&nbsp; (4.23)<br>| &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.44)<br>| 28.55 | &nbsp;&nbsp; (12.75)<br>| &nbsp;&nbsp; 8825 | 1.31 | 1.37 |
| 12/31/2021 | 29.99 | &nbsp;&nbsp; .24 | 4.19 | 4.43 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.20)<br>| 33.22 | 14.88 | &nbsp;&nbsp; 11401 | 1.31 | &nbsp;&nbsp; .75 |
| 12/31/2020 | 28.30 | &nbsp;&nbsp; .27 | 2.52 | 2.79 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.10)<br>| 29.99 | 10.05 | &nbsp;&nbsp; 10254 | 1.32 | &nbsp;&nbsp; .95 |
| **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.33 | &nbsp;&nbsp; .43 | 2.38 | 2.81 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.46)<br>| 36.68 | 8.24 <br><sup>68</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .30 <br><sup>78</sup><br>| 2.48 <br><sup>78</sup><br>|
| 12/31/2024 | 31.99 | &nbsp;&nbsp; .86 | 4.04 | 4.90 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.56)<br>| 34.33 | 15.21 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .30 <br><sup>8</sup><br>| 2.49 <br><sup>8</sup><br>|
| 12/31/2023 | 28.76 | &nbsp;&nbsp; .80 | 3.27 | 4.07 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.84)<br>| 31.99 | 14.33 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .29 <br><sup>8</sup><br>| 2.66 <br><sup>8</sup><br>|
| 12/31/2022 | 33.48 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp; (3.98)<br>| &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.74)<br>| 28.76 | &nbsp;&nbsp; (11.91 )<sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .31 <br><sup>8</sup><br>| 2.38 <br><sup>8</sup><br>|
| 12/31/2021 | 30.20 | &nbsp;&nbsp; .56 | 4.24 | 4.80 | &nbsp;&nbsp; (.48)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.52)<br>| 33.48 | 16.08 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .32 <br><sup>8</sup><br>| 1.74 <br><sup>8</sup><br>|
| 12/31/2020 | 28.50 | &nbsp;&nbsp; .55 | 2.53 | 3.08 | &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.38)<br>| 30.20 | 11.15 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .33 <br><sup>8</sup><br>| 1.94 <br><sup>8</sup><br>|
| **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.30 | &nbsp;&nbsp; .37 | 2.39 | 2.76 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.41)<br>| 36.65 | 8.08 <br><sup>6</sup><br>| &nbsp;&nbsp; 4296 | &nbsp;&nbsp; .62 <br><sup>7</sup><br>| 2.18 <br><sup>7</sup><br>|
| 12/31/2024 | 31.96 | &nbsp;&nbsp; .75 | 4.04 | 4.79 | &nbsp;&nbsp; (.70)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.45)<br>| 34.30 | 14.87 | &nbsp;&nbsp; 4120 | &nbsp;&nbsp; .61 | 2.18 |
| 12/31/2023 | 28.73 | &nbsp;&nbsp; .70 | 3.27 | 3.97 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.74)<br>| 31.96 | 13.97 | &nbsp;&nbsp; 3967 | &nbsp;&nbsp; .62 | 2.33 |
| 12/31/2022 | 33.44 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (4.06)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.65)<br>| 28.73 | &nbsp;&nbsp; (12.18)<br>| &nbsp;&nbsp; 4008 | &nbsp;&nbsp; .62 | 2.07 |
| 12/31/2021 | 30.17 | &nbsp;&nbsp; .46 | 4.23 | 4.69 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.42)<br>| 33.44 | 15.71 | &nbsp;&nbsp; 5048 | &nbsp;&nbsp; .62 | 1.43 |
| 12/31/2020 | 28.47 | &nbsp;&nbsp; .47 | 2.53 | 3.00 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.30)<br>| 30.17 | 10.82 | &nbsp;&nbsp; 5468 | &nbsp;&nbsp; .62 | 1.65 |
| **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.31 | &nbsp;&nbsp; .42 | 2.37 | 2.79 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.45)<br>| 36.65 | 8.19 <br><sup>6</sup><br>| &nbsp;&nbsp; 32761 | &nbsp;&nbsp; .36 <br><sup>7</sup><br>| 2.44 <br><sup>7</sup><br>|
| 12/31/2024 | 31.96 | &nbsp;&nbsp; .84 | 4.05 | 4.89 | &nbsp;&nbsp; (.79)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.54)<br>| 34.31 | 15.20 | &nbsp;&nbsp; 29839 | &nbsp;&nbsp; .35 | 2.44 |
| 12/31/2023 | 28.74 | &nbsp;&nbsp; .78 | 3.26 | 4.04 | &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.82)<br>| 31.96 | 14.23 | &nbsp;&nbsp; 25298 | &nbsp;&nbsp; .36 | 2.60 |
| 12/31/2022 | 33.44 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.73)<br>| 28.74 | &nbsp;&nbsp; (11.91)<br>| &nbsp;&nbsp; 22376 | &nbsp;&nbsp; .36 | 2.33 |
| 12/31/2021 | 30.17 | &nbsp;&nbsp; .55 | 4.23 | 4.78 | &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.51)<br>| 33.44 | 16.01 | &nbsp;&nbsp; 25875 | &nbsp;&nbsp; .36 | 1.71 |
| 12/31/2020 | 28.48 | &nbsp;&nbsp; .54 | 2.52 | 3.06 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.37)<br>| 30.17 | 11.07 | &nbsp;&nbsp; 19917 | &nbsp;&nbsp; .36 | 1.89 |
| **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.32 | &nbsp;&nbsp; .44 | 2.38 | 2.82 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.47)<br>| 36.67 | 8.28 <br><sup>6</sup><br>| &nbsp;&nbsp; 13553 | &nbsp;&nbsp; .25 <br><sup>7</sup><br>| 2.55 <br><sup>7</sup><br>|
| 12/31/2024 | 31.97 | &nbsp;&nbsp; .88 | 4.05 | 4.93 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.58)<br>| 34.32 | 15.32 | &nbsp;&nbsp; 12585 | &nbsp;&nbsp; .25 | 2.55 |
| 12/31/2023 | 28.75 | &nbsp;&nbsp; .81 | 3.26 | 4.07 | &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.85)<br>| 31.97 | 14.34 | &nbsp;&nbsp; 10713 | &nbsp;&nbsp; .25 | 2.71 |
| 12/31/2022 | 33.45 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (3.94)<br>| &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.76)<br>| 28.75 | &nbsp;&nbsp; (11.81)<br>| &nbsp;&nbsp; 9501 | &nbsp;&nbsp; .25 | 2.45 |
| 12/31/2021 | 30.18 | &nbsp;&nbsp; .59 | 4.22 | 4.81 | &nbsp;&nbsp; (.50)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.54)<br>| 33.45 | 16.13 | &nbsp;&nbsp; 10596 | &nbsp;&nbsp; .25 | 1.82 |
| 12/31/2020 | 28.49 | &nbsp;&nbsp; .57 | 2.52 | 3.09 | &nbsp;&nbsp; (.49)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.40)<br>| 30.18 | 11.19 | &nbsp;&nbsp; 7602 | &nbsp;&nbsp; .26 | 1.99 |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.26 | &nbsp;&nbsp; .38 | 2.37 | 2.75 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.41)<br>| 36.60 | 8.08 <br><sup>6</sup><br>| &nbsp;&nbsp; 6155 | &nbsp;&nbsp; .59 <br><sup>7</sup><br>| 2.21 <br><sup>7</sup><br>|
| 12/31/2024 | 31.92 | &nbsp;&nbsp; .76 | 4.04 | 4.80 | &nbsp;&nbsp; (.71)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.46)<br>| 34.26 | 14.91 | &nbsp;&nbsp; 5817 | &nbsp;&nbsp; .59 | 2.20 |
| 12/31/2023 | 28.70 | &nbsp;&nbsp; .70 | 3.26 | 3.96 | &nbsp;&nbsp; (.74)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.74)<br>| 31.92 | 13.95 | &nbsp;&nbsp; 5323 | &nbsp;&nbsp; .61 | 2.35 |
| 12/31/2022 | 33.40 | &nbsp;&nbsp; .63 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.65)<br>| 28.70 | &nbsp;&nbsp; (12.13)<br>| &nbsp;&nbsp; 4977 | &nbsp;&nbsp; .60 | 2.09 |
| 12/31/2021 | 30.14 | &nbsp;&nbsp; .47 | 4.22 | 4.69 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.43)<br>| 33.40 | 15.72 | &nbsp;&nbsp; 5929 | &nbsp;&nbsp; .60 | 1.46 |
| 12/31/2020 | 28.45 | &nbsp;&nbsp; .46 | 2.53 | 2.99 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.30)<br>| 30.14 | 10.79 | &nbsp;&nbsp; 5163 | &nbsp;&nbsp; .62 | 1.64 |

---

Refer to the end of the table(s) for footnote(s).

---

| | |
|:---|:---|
| American Balanced Fund | **88** |

---

------

Financial highlights (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**<br>| **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Total**<br> **dividends**<br> **and**<br> **distributions**<br>| <br>**Net asset**<br> **value, end**<br> **of year**<br>| <br>**Total return**<sup>2</sup> | <br>**Net assets,**<br> **end of year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average**<br> **net assets**<sup>3</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss) to**<br> **average**<br> **net assets**<br>|
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 6/30/2025<sup>4,5</sup> <br>| $34.32 | &nbsp;&nbsp; $.25 | &nbsp;&nbsp; $2.37 | &nbsp;&nbsp; $2.62 | &nbsp;&nbsp; $(.08)<br>| &nbsp;&nbsp; $(.20)<br>| &nbsp;&nbsp; $(.28)<br>| &nbsp;&nbsp; $36.66 | 7.67 %<sup>6</sup><br>| &nbsp;&nbsp; $245 | 1.35 %<sup>7</sup><br>| 1.44 %<sup>7</sup><br>|
| 12/31/2024 | 31.97 | &nbsp;&nbsp; .50 | 4.04 | 4.54 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.19)<br>| 34.32 | 14.05 | &nbsp;&nbsp; 251 | 1.35 | 1.44 |
| 12/31/2023 | 28.74 | &nbsp;&nbsp; .47 | 3.27 | 3.74 | &nbsp;&nbsp; (.51)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.51)<br>| 31.97 | 13.10 | &nbsp;&nbsp; 265 | 1.37 | 1.58 |
| 12/31/2022 | 33.44 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (4.28)<br>| &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.42)<br>| 28.74 | &nbsp;&nbsp; (12.82)<br>| &nbsp;&nbsp; 286 | 1.36 | 1.31 |
| 12/31/2021 | 30.17 | &nbsp;&nbsp; .23 | 4.22 | 4.45 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.18)<br>| 33.44 | 14.86 | &nbsp;&nbsp; 390 | 1.35 | &nbsp;&nbsp; .70 |
| 12/31/2020 | 28.46 | &nbsp;&nbsp; .27 | 2.52 | 2.79 | &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.08)<br>| 30.17 | 9.98 | &nbsp;&nbsp; 405 | 1.36 | &nbsp;&nbsp; .97 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.24 | &nbsp;&nbsp; .34 | 2.37 | 2.71 | &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.37)<br>| 36.58 | 7.96 <br><sup>6</sup><br>| &nbsp;&nbsp; 183 | &nbsp;&nbsp; .82 <br><sup>7</sup><br>| 1.97 <br><sup>7</sup><br>|
| 12/31/2024 | 31.91 | &nbsp;&nbsp; .67 | 4.04 | 4.71 | &nbsp;&nbsp; (.63)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.38)<br>| 34.24 | 14.62 | &nbsp;&nbsp; 177 | &nbsp;&nbsp; .83 | 1.96 |
| 12/31/2023 | 28.69 | &nbsp;&nbsp; .63 | 3.26 | 3.89 | &nbsp;&nbsp; (.67)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.67)<br>| 31.91 | 13.70 | &nbsp;&nbsp; 171 | &nbsp;&nbsp; .84 | 2.12 |
| 12/31/2022 | 33.39 | &nbsp;&nbsp; .55 | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (4.12)<br>| &nbsp;&nbsp; (.40)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.58)<br>| 28.69 | &nbsp;&nbsp; (12.35)<br>| &nbsp;&nbsp; 167 | &nbsp;&nbsp; .84 | 1.85 |
| 12/31/2021 | 30.13 | &nbsp;&nbsp; .39 | 4.22 | 4.61 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.35)<br>| 33.39 | 15.46 | &nbsp;&nbsp; 207 | &nbsp;&nbsp; .83 | 1.22 |
| 12/31/2020 | 28.43 | &nbsp;&nbsp; .40 | 2.53 | 2.93 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.23)<br>| 30.13 | 10.58 | &nbsp;&nbsp; 195 | &nbsp;&nbsp; .84 | 1.42 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.34 | &nbsp;&nbsp; .42 | 2.38 | 2.80 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.45)<br>| 36.69 | 8.22 <br><sup>68</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .36 <br><sup>78</sup><br>| 2.45 <br><sup>78</sup><br>|
| 12/31/2024 | 31.99 | &nbsp;&nbsp; .84 | 4.05 | 4.89 | &nbsp;&nbsp; (.79)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.54)<br>| 34.34 | 15.17 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .36 <br><sup>8</sup><br>| 2.43 <br><sup>8</sup><br>|
| 12/31/2023 | 28.76 | &nbsp;&nbsp; .78 | 3.27 | 4.05 | &nbsp;&nbsp; (.82)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.82)<br>| 31.99 | 14.25 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .36 <br><sup>8</sup><br>| 2.60 <br><sup>8</sup><br>|
| 12/31/2022 | 33.47 | &nbsp;&nbsp; .70 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (3.98)<br>| &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.73)<br>| 28.76 | &nbsp;&nbsp; (11.91 )<sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .35 <br><sup>8</sup><br>| 2.35 <br><sup>8</sup><br>|
| 12/31/2021 | 30.20 | &nbsp;&nbsp; .55 | 4.22 | 4.77 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.50)<br>| 33.47 | 15.97 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .38 <br><sup>8</sup><br>| 1.69 <br><sup>8</sup><br>|
| 12/31/2020 | 28.50 | &nbsp;&nbsp; .54 | 2.53 | 3.07 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.37)<br>| 30.20 | 11.10 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .37 <br><sup>8</sup><br>| 1.89 <br><sup>8</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.21 | &nbsp;&nbsp; .41 | 2.37 | 2.78 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.44)<br>| 36.55 | 8.17 <br><sup>68</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .43 <br><sup>78</sup><br>| 2.37 <br><sup>78</sup><br>|
| 12/31/2024 | 31.88 | &nbsp;&nbsp; .81 | 4.04 | 4.85 | &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.52)<br>| 34.21 | 15.09 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .42 <br><sup>8</sup><br>| 2.37 <br><sup>8</sup><br>|
| 12/31/2023 | 28.67 | &nbsp;&nbsp; .75 | 3.26 | 4.01 | &nbsp;&nbsp; (.80)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.80)<br>| 31.88 | 14.15 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .44 <br><sup>8</sup><br>| 2.51 <br><sup>8</sup><br>|
| 12/31/2022 | 33.37 | &nbsp;&nbsp; .68 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (4.00)<br>| &nbsp;&nbsp; (.52)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.70)<br>| 28.67 | &nbsp;&nbsp; (12.01 )<sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .43 <br><sup>8</sup><br>| 2.27 <br><sup>8</sup><br>|
| 12/31/2021 | 30.11 | &nbsp;&nbsp; .53 | 4.21 | 4.74 | &nbsp;&nbsp; (.44)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.48)<br>| 33.37 | 15.93 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .43 <br><sup>8</sup><br>| 1.63 <br><sup>8</sup><br>|
| 12/31/2020 | 28.42 | &nbsp;&nbsp; .52 | 2.53 | 3.05 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.36)<br>| 30.11 | 11.07 <br><sup>8</sup><br>| &nbsp;&nbsp; — <br><sup>9</sup><br>| &nbsp;&nbsp; .38 <br><sup>8</sup><br>| 1.88 <br><sup>8</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.33 | &nbsp;&nbsp; .42 | 2.39 | 2.81 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.46)<br>| 36.68 | 8.22 <br><sup>6</sup><br>| &nbsp;&nbsp; 643 | &nbsp;&nbsp; .34 <br><sup>7</sup><br>| 2.46 <br><sup>7</sup><br>|
| 12/31/2024 | 31.99 | &nbsp;&nbsp; .85 | 4.04 | 4.89 | &nbsp;&nbsp; (.80)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.55)<br>| 34.33 | 15.20 | &nbsp;&nbsp; 572 | &nbsp;&nbsp; .34 | 2.45 |
| 12/31/2023 | 28.76 | &nbsp;&nbsp; .79 | 3.27 | 4.06 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.83)<br>| 31.99 | 14.24 | &nbsp;&nbsp; 467 | &nbsp;&nbsp; .34 | 2.62 |
| 12/31/2022 | 33.47 | &nbsp;&nbsp; .71 | &nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp; (3.98)<br>| &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.73)<br>| 28.76 | &nbsp;&nbsp; (11.91)<br>| &nbsp;&nbsp; 400 | &nbsp;&nbsp; .35 | 2.35 |
| 12/31/2021 | 30.20 | &nbsp;&nbsp; .55 | 4.22 | 4.77 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.50)<br>| 33.47 | 15.99 | &nbsp;&nbsp; 444 | &nbsp;&nbsp; .36 | 1.70 |
| 12/31/2020<sup>4,10</sup> <br>| 28.35 | &nbsp;&nbsp; .09 | 2.65 | 2.74 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.89)<br>| 30.20 | 9.67 <br><sup>6</sup><br>| &nbsp;&nbsp; 336 | &nbsp;&nbsp; .06 <br><sup>6</sup><br>| &nbsp;&nbsp; .32 <br><sup>6</sup><br>|
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.33 | &nbsp;&nbsp; .43 | 2.38 | 2.81 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.46)<br>| 36.68 | 8.24 <br><sup>6</sup><br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; .30 <br><sup>7</sup><br>| 2.51 <br><sup>7</sup><br>|
| 12/31/2024 | 31.98 | &nbsp;&nbsp; .86 | 4.05 | 4.91 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.56)<br>| 34.33 | 15.25 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; .30 | 2.48 |
| 12/31/2023 | 28.75 | &nbsp;&nbsp; .79 | 3.27 | 4.06 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.83)<br>| 31.98 | 14.31 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .31 | 2.65 |
| 12/31/2022 | 33.46 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.74)<br>| 28.75 | &nbsp;&nbsp; (11.89)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .31 | 2.39 |
| 12/31/2021 | 30.19 | &nbsp;&nbsp; .57 | 4.22 | 4.79 | &nbsp;&nbsp; (.48)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.52)<br>| 33.46 | 16.06 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; .31 | 1.75 |
| 12/31/2020<sup>4,10</sup> <br>| 28.35 | &nbsp;&nbsp; .10 | 2.63 | 2.73 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; (.77)<br>| &nbsp;&nbsp; (.89)<br>| 30.19 | 9.66 <br><sup>6</sup><br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; .05 <br><sup>6</sup><br>| &nbsp;&nbsp; .35 <br><sup>6</sup><br>|
| **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.01 | &nbsp;&nbsp; .25 | 2.36 | 2.61 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.29)<br>| 36.33 | 7.69 <br><sup>6</sup><br>| &nbsp;&nbsp; 210 | 1.33 <br><sup>7</sup><br>| 1.46 <br><sup>7</sup><br>|
| 12/31/2024 | 31.71 | &nbsp;&nbsp; .50 | 4.01 | 4.51 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.21)<br>| 34.01 | 14.06 | &nbsp;&nbsp; 206 | 1.32 | 1.47 |
| 12/31/2023 | 28.52 | &nbsp;&nbsp; .48 | 3.24 | 3.72 | &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.53)<br>| 31.71 | 13.13 | &nbsp;&nbsp; 190 | 1.33 | 1.63 |
| 12/31/2022 | 33.19 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; (4.64)<br>| &nbsp;&nbsp; (4.23)<br>| &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.44)<br>| 28.52 | &nbsp;&nbsp; (12.76)<br>| &nbsp;&nbsp; 168 | 1.33 | 1.38 |
| 12/31/2021 | 29.96 | &nbsp;&nbsp; .24 | 4.19 | 4.43 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.20)<br>| 33.19 | 14.89 | &nbsp;&nbsp; 179 | 1.32 | &nbsp;&nbsp; .74 |
| 12/31/2020 | 28.28 | &nbsp;&nbsp; .26 | 2.52 | 2.78 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.10)<br>| 29.96 | 10.03 | &nbsp;&nbsp; 157 | 1.33 | &nbsp;&nbsp; .93 |

---

Refer to the end of the table(s) for footnote(s).

---

| | |
|:---|:---|
| **89** | American Balanced Fund |

---

------

Financial highlights (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**<br>| **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Total**<br> **dividends**<br> **and**<br> **distributions**<br>| <br>**Net asset**<br> **value, end**<br> **of year**<br>| <br>**Total return**<sup>2</sup> | <br>**Net assets,**<br> **end of year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average**<br> **net assets**<sup>3</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss) to**<br> **average**<br> **net assets**<br>|
| **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  |
| 6/30/2025<sup>4,5</sup> <br>| $34.05 | &nbsp;&nbsp; $.25 | &nbsp;&nbsp; $2.36 | &nbsp;&nbsp; $2.61 | &nbsp;&nbsp; $(.09)<br>| &nbsp;&nbsp; $(.20)<br>| &nbsp;&nbsp; $(.29)<br>| &nbsp;&nbsp; $36.37 | 7.68 %<sup>6</sup><br>| &nbsp;&nbsp; $1177 | 1.33 %<sup>7</sup><br>| 1.47 %<sup>7</sup><br>|
| 12/31/2024 | 31.74 | &nbsp;&nbsp; .50 | 4.02 | 4.52 | &nbsp;&nbsp; (.46)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.21)<br>| 34.05 | 14.08 | &nbsp;&nbsp; 1147 | 1.32 | 1.47 |
| 12/31/2023 | 28.55 | &nbsp;&nbsp; .48 | 3.24 | 3.72 | &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.53)<br>| 31.74 | 13.11 | &nbsp;&nbsp; 1106 | 1.33 | 1.63 |
| 12/31/2022 | 33.22 | &nbsp;&nbsp; .40 | &nbsp;&nbsp; (4.64)<br>| &nbsp;&nbsp; (4.24)<br>| &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.43)<br>| 28.55 | &nbsp;&nbsp; (12.78)<br>| &nbsp;&nbsp; 1070 | 1.34 | 1.34 |
| 12/31/2021 | 29.99 | &nbsp;&nbsp; .23 | 4.19 | 4.42 | &nbsp;&nbsp; (.15)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.19)<br>| 33.22 | 14.86 | &nbsp;&nbsp; 1327 | 1.33 | &nbsp;&nbsp; .73 |
| 12/31/2020 | 28.30 | &nbsp;&nbsp; .26 | 2.53 | 2.79 | &nbsp;&nbsp; (.19)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.10)<br>| 29.99 | 10.03 | &nbsp;&nbsp; 1201 | 1.34 | &nbsp;&nbsp; .93 |
| **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.15 | &nbsp;&nbsp; .30 | 2.37 | 2.67 | &nbsp;&nbsp; (.14)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.34)<br>| 36.48 | 7.84 <br><sup>6</sup><br>| &nbsp;&nbsp; 171 | 1.04 <br><sup>7</sup><br>| 1.75 <br><sup>7</sup><br>|
| 12/31/2024 | 31.83 | &nbsp;&nbsp; .60 | 4.03 | 4.63 | &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.31)<br>| 34.15 | 14.39 | &nbsp;&nbsp; 159 | 1.04 | 1.75 |
| 12/31/2023 | 28.63 | &nbsp;&nbsp; .57 | 3.24 | 3.81 | &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.61)<br>| 31.83 | 13.43 | &nbsp;&nbsp; 144 | 1.05 | 1.91 |
| 12/31/2022 | 33.31 | &nbsp;&nbsp; .49 | &nbsp;&nbsp; (4.66)<br>| &nbsp;&nbsp; (4.17)<br>| &nbsp;&nbsp; (.33)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.51)<br>| 28.63 | &nbsp;&nbsp; (12.53)<br>| &nbsp;&nbsp; 126 | 1.06 | 1.63 |
| 12/31/2021 | 30.06 | &nbsp;&nbsp; .33 | 4.20 | 4.53 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.28)<br>| 33.31 | 15.21 | &nbsp;&nbsp; 156 | 1.05 | 1.01 |
| 12/31/2020 | 28.37 | &nbsp;&nbsp; .34 | 2.53 | 2.87 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.18)<br>| 30.06 | 10.34 | &nbsp;&nbsp; 136 | 1.05 | 1.21 |
| **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.11 | &nbsp;&nbsp; .33 | 2.36 | 2.69 | &nbsp;&nbsp; (.16)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.36)<br>| 36.44 | 7.92 <br><sup>6</sup><br>| &nbsp;&nbsp; 2526 | &nbsp;&nbsp; .89 <br><sup>7</sup><br>| 1.90 <br><sup>7</sup><br>|
| 12/31/2024 | 31.79 | &nbsp;&nbsp; .65 | 4.03 | 4.68 | &nbsp;&nbsp; (.61)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.36)<br>| 34.11 | 14.57 | &nbsp;&nbsp; 2455 | &nbsp;&nbsp; .89 | 1.90 |
| 12/31/2023 | 28.59 | &nbsp;&nbsp; .61 | 3.25 | 3.86 | &nbsp;&nbsp; (.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.66)<br>| 31.79 | 13.61 | &nbsp;&nbsp; 2351 | &nbsp;&nbsp; .90 | 2.06 |
| 12/31/2022 | 33.28 | &nbsp;&nbsp; .53 | &nbsp;&nbsp; (4.66)<br>| &nbsp;&nbsp; (4.13)<br>| &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.56)<br>| 28.59 | &nbsp;&nbsp; (12.40)<br>| &nbsp;&nbsp; 2359 | &nbsp;&nbsp; .90 | 1.78 |
| 12/31/2021 | 30.03 | &nbsp;&nbsp; .37 | 4.21 | 4.58 | &nbsp;&nbsp; (.29)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.33)<br>| 33.28 | 15.36 | &nbsp;&nbsp; 2947 | &nbsp;&nbsp; .90 | 1.16 |
| 12/31/2020 | 28.34 | &nbsp;&nbsp; .38 | 2.53 | 2.91 | &nbsp;&nbsp; (.31)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.22)<br>| 30.03 | 10.51 | &nbsp;&nbsp; 2910 | &nbsp;&nbsp; .90 | 1.36 |
| **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.27 | &nbsp;&nbsp; .38 | 2.37 | 2.75 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.41)<br>| 36.61 | 8.07 <br><sup>6</sup><br>| &nbsp;&nbsp; 4245 | &nbsp;&nbsp; .60 <br><sup>7</sup><br>| 2.19 <br><sup>7</sup><br>|
| 12/31/2024 | 31.93 | &nbsp;&nbsp; .76 | 4.04 | 4.80 | &nbsp;&nbsp; (.71)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.46)<br>| 34.27 | 14.91 | &nbsp;&nbsp; 4191 | &nbsp;&nbsp; .60 | 2.20 |
| 12/31/2023 | 28.71 | &nbsp;&nbsp; .70 | 3.27 | 3.97 | &nbsp;&nbsp; (.75)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.75)<br>| 31.93 | 13.96 | &nbsp;&nbsp; 4094 | &nbsp;&nbsp; .60 | 2.35 |
| 12/31/2022 | 33.41 | &nbsp;&nbsp; .62 | &nbsp;&nbsp; (4.67)<br>| &nbsp;&nbsp; (4.05)<br>| &nbsp;&nbsp; (.47)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.65)<br>| 28.71 | &nbsp;&nbsp; (12.14)<br>| &nbsp;&nbsp; 4144 | &nbsp;&nbsp; .60 | 2.08 |
| 12/31/2021 | 30.14 | &nbsp;&nbsp; .46 | 4.23 | 4.69 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.42)<br>| 33.41 | 15.72 | &nbsp;&nbsp; 5418 | &nbsp;&nbsp; .60 | 1.43 |
| 12/31/2020 | 28.44 | &nbsp;&nbsp; .47 | 2.53 | 3.00 | &nbsp;&nbsp; (.39)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.30)<br>| 30.14 | 10.85 | &nbsp;&nbsp; 6666 | &nbsp;&nbsp; .60 | 1.66 |
| **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.30 | &nbsp;&nbsp; .41 | 2.39 | 2.80 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.45)<br>| 36.65 | 8.21 <br><sup>6</sup><br>| &nbsp;&nbsp; 668 | &nbsp;&nbsp; .40 <br><sup>7</sup><br>| 2.40 <br><sup>7</sup><br>|
| 12/31/2024 | 31.96 | &nbsp;&nbsp; .82 | 4.05 | 4.87 | &nbsp;&nbsp; (.78)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.53)<br>| 34.30 | 15.11 | &nbsp;&nbsp; 617 | &nbsp;&nbsp; .40 | 2.40 |
| 12/31/2023 | 28.73 | &nbsp;&nbsp; .77 | 3.27 | 4.04 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.81)<br>| 31.96 | 14.21 | &nbsp;&nbsp; 648 | &nbsp;&nbsp; .40 | 2.55 |
| 12/31/2022 | 33.44 | &nbsp;&nbsp; .69 | &nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp; (4.00)<br>| &nbsp;&nbsp; (.53)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.71)<br>| 28.73 | &nbsp;&nbsp; (11.98)<br>| &nbsp;&nbsp; 672 | &nbsp;&nbsp; .41 | 2.30 |
| 12/31/2021 | 30.17 | &nbsp;&nbsp; .54 | 4.22 | 4.76 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.49)<br>| 33.44 | 15.97 | &nbsp;&nbsp; 682 | &nbsp;&nbsp; .40 | 1.67 |
| 12/31/2020 | 28.47 | &nbsp;&nbsp; .53 | 2.53 | 3.06 | &nbsp;&nbsp; (.45)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.36)<br>| 30.17 | 11.08 | &nbsp;&nbsp; 583 | &nbsp;&nbsp; .40 | 1.86 |
| **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.39 | &nbsp;&nbsp; .43 | 2.38 | 2.81 | &nbsp;&nbsp; (.26)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.46)<br>| 36.74 | 8.23 <br><sup>6</sup><br>| &nbsp;&nbsp; 1169 | &nbsp;&nbsp; .30 <br><sup>7</sup><br>| 2.50 <br><sup>7</sup><br>|
| 12/31/2024 | 32.03 | &nbsp;&nbsp; .86 | 4.06 | 4.92 | &nbsp;&nbsp; (.81)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.56)<br>| 34.39 | 15.26 | &nbsp;&nbsp; 1042 | &nbsp;&nbsp; .30 | 2.50 |
| 12/31/2023 | 28.80 | &nbsp;&nbsp; .80 | 3.27 | 4.07 | &nbsp;&nbsp; (.84)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.84)<br>| 32.03 | 14.29 | &nbsp;&nbsp; 989 | &nbsp;&nbsp; .30 | 2.65 |
| 12/31/2022 | 33.51 | &nbsp;&nbsp; .72 | &nbsp;&nbsp; (4.69)<br>| &nbsp;&nbsp; (3.97)<br>| &nbsp;&nbsp; (.56)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.74)<br>| 28.80 | &nbsp;&nbsp; (11.86)<br>| &nbsp;&nbsp; 997 | &nbsp;&nbsp; .30 | 2.38 |
| 12/31/2021 | 30.23 | &nbsp;&nbsp; .57 | 4.23 | 4.80 | &nbsp;&nbsp; (.48)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.52)<br>| 33.51 | 16.08 | &nbsp;&nbsp; 1334 | &nbsp;&nbsp; .30 | 1.75 |
| 12/31/2020 | 28.53 | &nbsp;&nbsp; .56 | 2.53 | 3.09 | &nbsp;&nbsp; (.48)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.39)<br>| 30.23 | 11.15 | &nbsp;&nbsp; 1623 | &nbsp;&nbsp; .30 | 1.96 |
| **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  |
| 6/30/2025<sup>4,5</sup> <br>| 34.35 | &nbsp;&nbsp; .44 | 2.38 | 2.82 | &nbsp;&nbsp; (.27)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; (.47)<br>| 36.70 | 8.27 <br><sup>6</sup><br>| &nbsp;&nbsp; 58915 | &nbsp;&nbsp; .25 <br><sup>7</sup><br>| 2.55 <br><sup>7</sup><br>|
| 12/31/2024 | 32.00 | &nbsp;&nbsp; .88 | 4.05 | 4.93 | &nbsp;&nbsp; (.83)<br>| &nbsp;&nbsp; (1.75)<br>| &nbsp;&nbsp; (2.58)<br>| 34.35 | 15.30 | &nbsp;&nbsp; 55173 | &nbsp;&nbsp; .25 | 2.55 |
| 12/31/2023 | 28.77 | &nbsp;&nbsp; .81 | 3.27 | 4.08 | &nbsp;&nbsp; (.85)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.85)<br>| 32.00 | 14.36 | &nbsp;&nbsp; 48223 | &nbsp;&nbsp; .25 | 2.71 |
| 12/31/2022 | 33.48 | &nbsp;&nbsp; .73 | &nbsp;&nbsp; (4.68)<br>| &nbsp;&nbsp; (3.95)<br>| &nbsp;&nbsp; (.58)<br>| &nbsp;&nbsp; (.18)<br>| &nbsp;&nbsp; (.76)<br>| 28.77 | &nbsp;&nbsp; (11.83)<br>| &nbsp;&nbsp; 40966 | &nbsp;&nbsp; .25 | 2.44 |
| 12/31/2021 | 30.21 | &nbsp;&nbsp; .59 | 4.22 | 4.81 | &nbsp;&nbsp; (.50)<br>| &nbsp;&nbsp; (1.04)<br>| &nbsp;&nbsp; (1.54)<br>| 33.48 | 16.12 | &nbsp;&nbsp; 46946 | &nbsp;&nbsp; .25 | 1.82 |
| 12/31/2020 | 28.51 | &nbsp;&nbsp; .57 | 2.53 | 3.10 | &nbsp;&nbsp; (.49)<br>| &nbsp;&nbsp; (.91)<br>| &nbsp;&nbsp; (1.40)<br>| 30.21 | 11.22 | &nbsp;&nbsp; 32488 | &nbsp;&nbsp; .26 | 2.00 |

---

Refer to the end of the table(s) for footnote(s).

---

| | |
|:---|:---|
| American Balanced Fund | **90** |

---

------

Financial highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio turnover rate for all share classes**<sup>11,12</sup>  | **Six months** <br>**ended** <br>**June 30,** <br>**2025**<sup>4,5,6</sup>  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **Portfolio turnover rate for all share classes**<sup>11,12</sup>  | **Six months** <br>**ended** <br>**June 30,** <br>**2025**<sup>4,5,6</sup>  | **2024** | **2023** | **2022** | **2020** |
| Excluding mortgage dollar roll transactions | &nbsp;&nbsp; 27<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 44<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 42<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 52<br> %<br>&nbsp;&nbsp;&nbsp;&nbsp; 53<br> %<sup>13</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 65<br> %<br>|
| Including mortgage dollar roll transactions | &nbsp;&nbsp; 61<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 131<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 171<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 157<br> %<br>&nbsp;&nbsp;&nbsp;&nbsp; 158<br> %<sup>13</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; 176<br> %<br>|

---

<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> Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.

<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> Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

<sup>11</sup> Rates do not include the fund's portfolio activity with respect to any Central Funds.

<sup>12</sup> Refer to Note 5 for more information on mortgage dollar rolls.

<sup>13</sup> Includes the value of securities sold due to redemptions of shares in-kind. If the value of securities sold due to in-kind redemptions were excluded, the portfolio turnover rates excluding and including mortgage dollar roll transactions would have been 46% and 152%, respectively, for the year ended December 31, 2021. 

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **91** | American Balanced Fund |

---

------

Changes in and disagreements with accountants

------

None

Matters submitted for shareholder vote

------

None

Remuneration paid to directors, officers and others

------

Refer to the trustees' deferred compensation disclosure in the notes to financial statements.

Approval of Investment Advisory and Service Agreement

------

Not applicable for the current reporting period due to the timing of the board's approval of this agreement.

---

| | |
|:---|:---|
| American Balanced Fund | **92** |

---

------

#### ITEM 8 - Changes in and Disagreements with Accountants for Open-End Management Investment Companies
None

------

#### ITEM 9 - Proxy Disclosures for Open-End Management Investment Companies
None

------

#### ITEM 10 - Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The information is included as part of the material filed under Item 7 of this Form within the trustees' deferred compensation disclosure in the notes to financial statements.

------

#### ITEM 11 - Statement Regarding Basis for Approval of Investment Advisory Contract
Not applicable for the current reporting period due to the timing of the board's approval of this agreement.

------

#### ITEM 12 - 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 13 - 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 14 - 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 15 - 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. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other 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 16 - 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) as of a date within 90 days of the filing date of this report, 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 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 17 - Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

------

#### ITEM 18 - Recovery of Erroneously Awarded Compensation
None

------

#### ITEM 19 - 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](cert302.htm) and [906](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.

**American Balanced Fund**

By /s/ Donald H. Rolfe

Donald H. Rolfe,

Principal Executive Officer

Date: September 05, 2025

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 /s/ Donald H. Rolfe

Donald H. Rolfe,

Principal Executive Officer

Date: September 05, 2025

By /s/ Hong T. Le

Hong T. Le, Treasurer and

Principal Financial Officer

Date: September 05, 2025

------

## Ex-99.Cert

**CERTIFICATION**

I, **Donald H. Rolfe**, certify that:

1. I have reviewed this report on Form N-CSR of **American Balanced Fund**;

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:

&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;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 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the 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):

&nbsp;&nbsp;&nbsp;&nbsp;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

&nbsp;&nbsp;&nbsp;&nbsp;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: September 05, 2025

<u>/s/ Donald H. Rolfe</u> Donald H. Rolfe, Principal Executive Officer American Balanced Fund

**CERTIFICATION**

I, **Hong T. Le**, certify that:

1. I have reviewed this report on Form N-CSR of **American Balanced Fund**;

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:

&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;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;

&nbsp;&nbsp;&nbsp;&nbsp;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 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the 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):

&nbsp;&nbsp;&nbsp;&nbsp;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

&nbsp;&nbsp;&nbsp;&nbsp;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: September 05, 2025

<u>/s/ Hong T. Le</u> Hong T. Le,

Treasurer and Principal Financial Officer

American Balanced Fund

------

## Exhibit 99.906

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

DONALD H. ROLFE, Principal Executive Officer, and HONG T. LE, Treasurer and Principal Financial Officer of American Balanced Fund (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 June 30, 2025 (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.

Principal Executive Officer

**American Balanced Fund**

<u>/s/ Donald H. Rolfe</u>

Donald H. Rolfe, Principal Executive Officer

Date: September 05, 2025

Principal Financial Officer

**American Balanced Fund**

<u>/s/ Hong T. Le</u>

Hong T. Le, Treasurer and Principal Financial Officer

Date: September 05, 2025

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to **American Balanced Fund** and will be retained by **American Balanced Fund** 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.

------