# EDGAR Filing Document

**Accession Number:** 0000858744
**File Stem:** 0001193125-26-247125
**Filing Date:** 2026-5
**Character Count:** 261334
**Document Hash:** 43a40f68a41406f7a15986f66a984bd0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-247125.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001193125-26-247125

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**EFFECTIVENESS DATE**: 20260529

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SMALLCAP WORLD FUND INC
- **CENTRAL INDEX KEY:** 0000858744

**ORGANIZATION NAME:**
- **EIN:** 954253845
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05888
- **FILM NUMBER:** 261041207

**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:** SMALLCAP FUND INC
- **DATE OF NAME CHANGE:** 19900205

## Series and Classes Contracts Data

### SMALLCAP WORLD FUND INC (Series ID: S000009599)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000026249 | Class A       | SMCWX           |
| C000026250 | Class R-1     | RSLAX           |
| C000026251 | Class R-2     | RSLBX           |
| C000026252 | Class R-3     | RSLCX           |
| C000026253 | Class R-4     | RSLEX           |
| C000026254 | Class R-5     | RSLFX           |
| C000026256 | Class C       | SCWCX           |
| C000026257 | Class F-1     | SCWFX           |
| C000026258 | Class 529-A   | CSPAX           |
| C000026260 | Class 529-C   | CSPCX           |
| C000026261 | Class 529-E   | CSPEX           |
| C000026262 | Class 529-F-1 | CSPFX           |
| C000068590 | Class F-2     | SMCFX           |
| C000077882 | Class R-6     | RLLGX           |
| C000148446 | Class R-2E    | RSEBX           |
| C000164808 | Class R-5E    | RSLDX           |
| C000180011 | Class F-3     | SFCWX           |
| C000189498 | Class 529-T   | TWSFX           |
| C000189499 | Class T       | TSFFX           |
| C000224599 | Class 529-F-2 | FSWFX           |
| C000224600 | Class 529-F-3 | FSFWX           |

?xml version='1.0' encoding='ASCII'? cfe87a17-3da5-48d9-ba2f-d7f848c4ba8d

#### 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

#### 811-05888

#### SMALLCAP World Fund, Inc.
(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:

#### September 30

#### Date of reporting period:

#### March 31, 2026
ITEM 1 - Reports to Stockholders

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class A \| SMCWX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-A. 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** |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$52 1.03%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-A.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fun d <sup>®</sup>
**Class C \| SCWCX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-C. 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** |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$89 1.77%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-C.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class T \| TSFFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature. 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** |
| &nbsp;&nbsp;Class T | &nbsp;&nbsp;$39 0.77%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class F-1 \| SCWFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-F1. 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** |
| &nbsp;&nbsp;Class F-1 | &nbsp;&nbsp;$54 1.08%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F1.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class F-2 \| SMCFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-F2. 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** |
| &nbsp;&nbsp;Class F-2 | &nbsp;&nbsp;$39 0.77%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F2.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class F-3 \| SFCWX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-F3. 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** |
| &nbsp;&nbsp;Class F-3 | &nbsp;&nbsp;$33 0.66%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-F3.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-A \| CSPAX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-529A. 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** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$53 1.06%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529A.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-C \| CSPCX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-529C. 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** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$91 1.82%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529C.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-E \| CSPEX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-529E. 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** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$63 1.26%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529E.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-T \| TWSFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature. 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** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$41 0.82%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-F-1 \| CSPFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-529F1. 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** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$45 0.89%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529F1.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-F-2 \| FSWFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-529F2. 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** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$38 0.76%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529F2.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class 529-F-3 \| FSFWX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$36 0.71%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-529F3.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-1 \| RSLAX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-R1. 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** |
| &nbsp;&nbsp;Class R-1 | &nbsp;&nbsp;$88 1.75%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R1.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-2 \| RSLBX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. You can find additional information about the fund at

capitalgroup.com/mutual-fund-literature-R2. 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** |
| &nbsp;&nbsp;Class R-2 | &nbsp;&nbsp;$88 1.76%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R2.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-2E \| RSEBX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-2E | &nbsp;&nbsp;$73 1.46%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R2E.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-3 \| RSLCX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-3 | &nbsp;&nbsp;$66 1.31%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R3.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-4 \| RSLEX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-4 | &nbsp;&nbsp;$51 1.01%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R4.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-5E \| RSLDX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-5E | &nbsp;&nbsp;$41 0.81%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R5E.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-5 \| RSLFX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-5 | &nbsp;&nbsp;$36 0.71%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R5.

#### 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-035-0526© 2026 Capital Group. All rights reserved.

![TSR - American Funds Logo](images_2494.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## SMALLCAP World Fund <sup>®</sup>
**Class R-6 \| RLLGX** for the six months ended March 31, 2026

This semi-annual shareholder report contains important information about SMALLCAP World Fund (the "fund") for the period from October 1, 2025 to March 31, 2026. 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** |
| &nbsp;&nbsp;Class R-6 | &nbsp;&nbsp;$33 0.66%<sup>\*</sup> |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $80901 |
| Total number of portfolio holdings | 857 |
| Portfolio turnover rate | 24% |

---

**Portfolio holdings by sector** (percent of net assets)

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/mutual-fund-literature-R6.

#### 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-035-0526© 2026 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

------

![](imgf528202b1.jpg)

**SMALLCAP World Fund**<sup>®</sup>

Financial Statements and Other Information

N-CSR Items 7-11

for the six months ended March 31, 2026

Lit. No. MFGEFP2-035-0526© 2026 Capital Group. All rights reserved.

------

Investment portfolio March 31, 2026unaudited

------

---

| | | |
|:---|:---|:---|
| Common stocks 95.02% | Shares | Value<br> (000)<br>|
| **Industrials 28.15%** | **Industrials 28.15%** | **Industrials 28.15%** |
| Comfort Systems USA, Inc.  | 861675 | $1188241 |
| Diploma PLC <sup>(a)</sup>  | 10369406 | 827407 |
| ATI, Inc. <sup>(b)</sup>  | 4289204 | 623908 |
| Bombardier, Inc., Class B <sup>(b)</sup>  | 3198237 | 565617 |
| Modine Manufacturing Co. <sup>(b)</sup>  | 2203225 | 477461 |
| Crane Co.  | 2611339 | 446539 |
| Arcosa, Inc. <sup>(a)</sup>  | 3923602 | 416451 |
| International Container Terminal Services, Inc.  | 34119756 | 391285 |
| FTAI Aviation, Ltd.  | 1468474 | 359776 |
| SPX Technologies, Inc. <sup>(b)</sup>  | 1655663 | 331033 |
| IMI PLC  | 9508385 | 324164 |
| Enpro, Inc. <sup>(a)</sup>  | 1254043 | 314326 |
| Babcock International Group PLC  | 20032933 | 308579 |
| Saia, Inc. <sup>(b)</sup>  | 845308 | 296940 |
| VSE Corp. <sup>(a)</sup>  | 1594772 | 294076 |
| Federal Signal Corp.  | 2625238 | 283893 |
| Casella Waste Systems, Inc., Class A <sup>(b)</sup>  | 3511077 | 278568 |
| ESCO Technologies, Inc.  | 950112 | 267333 |
| NICHIAS Corp. <sup>(a)(c)</sup>  | 14068200 | 260734 |
| BELIMO Holding AG  | 319752 | 258446 |
| CSW Industrials, Inc. <sup>(a)</sup>  | 945726 | 246437 |
| AZZ, Inc. <sup>(a)</sup>  | 1929959 | 241496 |
| Kadant, Inc. <sup>(a)</sup>  | 798227 | 233362 |
| Cleanaway Waste Management, Ltd. <sup>(a)</sup>  | 147062903 | 232730 |
| Oshkosh Corp.  | 1564421 | 230298 |
| Moog, Inc., Class A  | 765200 | 223928 |
| Howden Joinery Group PLC  | 20700860 | 219908 |
| Bloom Energy Corp., Class A <sup>(b)</sup>  | 1616379 | 219003 |
| XPO, Inc. <sup>(b)</sup>  | 1105506 | 215076 |
| SPIE SA  | 4295881 | 214800 |
| Everus Construction Group, Inc. <sup>(b)</sup>  | 1728923 | 204117 |
| Applied Industrial Technologies, Inc.  | 750641 | 199160 |
| SWCC Corp. <sup>(a)(c)</sup>  | 2465858 | 197455 |
| UL Solutions, Inc., Class A  | 2186427 | 187399 |
| Addtech AB, Class B <sup>(c)</sup>  | 5442314 | 184920 |
| NKT AS <sup>(b)</sup>  | 1406169 | 184215 |
| Sterling Infrastructure, Inc. <sup>(b)</sup>  | 446055 | 181665 |
| Core & Main, Inc., Class A <sup>(b)</sup>  | 3596547 | 177669 |
| Carel Industries SpA <sup>(a)(c)</sup>  | 6907990 | 177079 |
| SiteOne Landscape Supply, Inc. <sup>(b)</sup>  | 1303471 | 173505 |
| Sulzer AG <sup>(c)</sup>  | 797149 | 166934 |
| Rumo SA  | 50786647 | 159326 |
| Alliance Laundry Holdings, Inc. <sup>(b)(c)</sup>  | 7302367 | 151451 |
| Robert Half, Inc. <sup>(a)</sup>  | 5885750 | 149498 |
| Weir Group PLC (The)  | 3978926 | 148859 |
| Japan Elevator Service Holdings Co., Ltd. <sup>(a)(c)</sup>  | 14032600 | 145738 |
| Adecco Group AG <sup>(c)</sup>  | 6007869 | 145396 |
| BayCurrent, Inc.  | 4980230 | 144935 |
| Simpson Manufacturing Co., Inc.  | 836008 | 143476 |
| VAT Group AG  | 231276 | 142672 |
| Nexans SA  | 1051370 | 142257 |
| Takasago Thermal Engineering Co., Ltd. <sup>(c)</sup>  | 5106724 | 141072 |
| Hub Group, Inc., Class A <sup>(a)</sup>  | 3837117 | 138290 |
| Kumagai Gumi Co., Ltd. <sup>(a)(c)</sup>  | 13847300 | 136033 |
| Copa Holdings SA, Class A  | 1177918 | 133823 |
| Cenergy Holdings SA  | 5973517 | 132088 |
| Enerpac Tool Group Corp., Class A <sup>(a)</sup>  | 3605977 | 131510 |
| Armstrong World Industries, Inc.  | 775984 | 127882 |
| Lifco AB, Class B  | 4195000 | 126217 |
| AAR Corp. <sup>(b)</sup>  | 1129345 | 123618 |
| Astronics Corp. <sup>(b)</sup>  | 1849886 | 123443 |
| First Advantage Corp. <sup>(a)(b)</sup>  | 10398714 | 122289 |
| Advanced Drainage Systems, Inc.  | 884282 | 121262 |
| Volution Group PLC <sup>(a)</sup>  | 15855357 | 120609 |

---

---

| | |
|:---|:---|
| **1** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| Alaska Air Group, Inc. <sup>(b)</sup>  | 3231662 | $118861 |
| Hensoldt AG <sup>(c)</sup>  | 1361975 | 118233 |
| Perini Corp.  | 1507654 | 116376 |
| AQ Group AB <sup>(a)</sup>  | 5757339 | 114238 |
| Neway Valve (Suzhou) Co., Ltd., Class A  | 16096304 | 113722 |
| Montana Aerospace AG <sup>(a)(b)</sup>  | 3458664 | 113536 |
| Interpump Group SpA  | 2973288 | 113349 |
| Rosebank Industries PLC <sup>(b)</sup>  | 25768119 | 108494 |
| MDA Space, Ltd. (CAD denominated) <sup>(b)(c)</sup>  | 4101819 | 103909 |
| MDA Space, Ltd. <sup>(b)</sup>  | 144000 | 3646 |
| Loar Holdings, Inc. <sup>(b)(c)</sup>  | 1840381 | 105435 |
| Badger Infrastructure Solutions, Ltd. <sup>(a)</sup>  | 2357852 | 105155 |
| AAON, Inc.  | 1250865 | 103509 |
| Qantas Airways, Ltd.  | 17131673 | 100616 |
| Matson, Inc.  | 608678 | 99787 |
| Tetra Tech, Inc.  | 3308127 | 99641 |
| QinetiQ Group PLC  | 16254322 | 98302 |
| Masco Corp.  | 1625000 | 98101 |
| PFISTERER Holding SE <sup>(a)(b)</sup>  | 1198592 | 96134 |
| ICF International, Inc. <sup>(a)</sup>  | 1470825 | 96030 |
| Construction Partners, Inc., Class A <sup>(b)</sup>  | 856696 | 95196 |
| Visional, Inc. <sup>(a)(b)(c)</sup>  | 2118746 | 94739 |
| Sinfonia Technology Co., Ltd. <sup>(c)</sup>  | 1377146 | 94579 |
| Cadre Holdings, Inc. <sup>(a)</sup>  | 3021453 | 92698 |
| Hammond Power Solutions, Inc., Class A <sup>(c)</sup>  | 730120 | 92043 |
| KEI Industries, Ltd.  | 2083006 | 91792 |
| FTI Consulting, Inc. <sup>(b)</sup>  | 512947 | 90674 |
| Meidensha Corp.  | 1846100 | 90414 |
| Karman Holdings, Inc. <sup>(b)(c)</sup>  | 1094536 | 87618 |
| Builders FirstSource, Inc. <sup>(b)</sup>  | 1049241 | 86384 |
| Chemring Group PLC  | 12134318 | 82183 |
| IMCD NV <sup>(c)</sup>  | 787332 | 82173 |
| Graco, Inc.  | 954000 | 80756 |
| Beijer Ref AB, Class B  | 5863091 | 80576 |
| Sany Heavy Equipment International Holdings Co., Ltd.  | 53644000 | 78302 |
| Shaily Engineering Plastics, Ltd. <sup>(a)</sup>  | 3412855 | 77971 |
| Grafton Group PLC  | 6377827 | 76486 |
| Trinity Industries, Inc.  | 2342621 | 75386 |
| Takuma Co., Ltd. <sup>(a)(c)</sup>  | 4327500 | 74713 |
| Watsco, Inc.  | 200000 | 72758 |
| INVISIO Communications AB <sup>(a)(c)</sup>  | 2638610 | 72707 |
| AFRY AB, Class B  | 5212206 | 71407 |
| Instalco AB <sup>(a)</sup>  | 21084251 | 70524 |
| Flowserve Corp.  | 942871 | 69310 |
| Kandenko Co., Ltd.  | 1809600 | 68872 |
| McGrath RentCorp  | 622214 | 68618 |
| WESCO International, Inc.  | 249081 | 68154 |
| dormakaba Holding AG  | 1057991 | 67999 |
| Valmet OYJ  | 2374697 | 67717 |
| Huber + Suhner AG  | 303297 | 67180 |
| Mader Group, Ltd. <sup>(a)</sup>  | 12090174 | 65742 |
| Bravida Holding AB  | 6136260 | 64673 |
| Engcon AB, Class B <sup>(c)</sup>  | 9370843 | 64590 |
| Limbach Holdings, Inc. <sup>(a)(b)</sup>  | 823702 | 64290 |
| CECO Environmental Corp. <sup>(b)</sup>  | 1055080 | 62862 |
| MYR Group, Inc. <sup>(b)</sup>  | 219175 | 61877 |
| Inox Wind, Ltd. <sup>(b)</sup>  | 76142427 | 61218 |
| Terex Corp.  | 998937 | 59037 |
| Standex International Corp.  | 221786 | 56524 |
| Sankyu, Inc. <sup>(c)</sup>  | 1001800 | 55754 |
| Bilfinger SE  | 490586 | 55548 |
| Localiza Rent a Car SA, ordinary nominative shares  | 5904337 | 53551 |
| Localiza Rent a Car SA  | 227086 | 1985 |
| APi Group Corp. <sup>(b)</sup>  | 1361656 | 55174 |
| ESAB Corp.  | 549710 | 53135 |
| Morgan Sindall Group PLC  | 952222 | 52307 |
| Powell Industries, Inc.  | 95847 | 51861 |
| Upwork, Inc. <sup>(b)</sup>  | 4723558 | 51770 |

---

SMALLCAP World Fund<sub>2</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| BWX Technologies, Inc.  | 250845 | $51295 |
| Leonardo DRS, Inc.  | 1094910 | 48745 |
| Sanki Engineering Co., Ltd.  | 1068900 | 46323 |
| RENK Group AG  | 772710 | 45266 |
| EquipmentShare.com, Inc., Class A <sup>(b)(c)</sup>  | 2080792 | 42386 |
| Generac Holdings, Inc. <sup>(b)</sup>  | 207989 | 40627 |
| R&S Group Holding AG <sup>(c)</sup>  | 1548736 | 40469 |
| Ventia Services Group Pty, Ltd.  | 10875736 | 39468 |
| Fluidra SA, non-registered shares  | 1635257 | 37907 |
| MSA Safety, Inc.  | 229725 | 37663 |
| SATS, Ltd.  | 13472700 | 37165 |
| Richelieu Hardware, Ltd.  | 1230076 | 36113 |
| Beijer Alma AB, Class B  | 1400000 | 35922 |
| AirTAC International Group  | 1133661 | 35899 |
| Worthington Enterprises, Inc.  | 678793 | 35392 |
| Firefly Aerospace, Inc. <sup>(b)(c)</sup>  | 1205209 | 34312 |
| Harbin Electric Co., Ltd., Class H  | 11448000 | 31909 |
| Boyd Group, Inc.  | 131123 | 16765 |
| Boyd Group, Inc. (CAD denominated) <sup>(c)</sup>  | 118270 | 15099 |
| Kingspan Group PLC  | 376909 | 31815 |
| Arteche Lantegi Elkartea SA  | 1052793 | 30515 |
| FUJI Corp.  | 989900 | 30198 |
| LISI SA  | 467469 | 28890 |
| Tkms AG & Co. KGaA <sup>(b)</sup>  | 305525 | 27703 |
| Grupa Pracuj SA  | 2464069 | 26503 |
| GEK TERNA Holdings SA  | 662835 | 26200 |
| Willscot Holdings Corp., Class A  | 1500000 | 26040 |
| CAE, Inc. <sup>(b)</sup>  | 964743 | 25119 |
| Indutrade AB  | 1080000 | 24976 |
| FLSmidth & Co. A/S, non-registered shares  | 326752 | 24826 |
| Karnell Group AB <sup>(b)</sup>  | 3739000 | 24374 |
| Voyager Technologies, Inc., Class A <sup>(b)</sup>  | 1033158 | 24166 |
| Storskogen Group AB, Class B  | 25765022 | 24109 |
| Melrose Industries PLC  | 3561312 | 23989 |
| Einride AB <sup>(a)(b)(d)(e)</sup>  | 537500 | 13056 |
| Einride AB (EUR denominated) <sup>(a)(b)(d)(e)</sup>  | 438277 | 10646 |
| Porr AG  | 532369 | 22605 |
| Arcadis NV, non-registered shares <sup>(c)</sup>  | 694375 | 22352 |
| DO & CO AG, non-registered shares  | 103203 | 19599 |
| Zehnder Group AG  | 232223 | 19272 |
| Aequs, Ltd. <sup>(b)</sup>  | 14835600 | 19265 |
| Sunrun, Inc. <sup>(b)</sup>  | 1200000 | 16272 |
| MonotaRO Co., Ltd. <sup>(c)</sup>  | 1511100 | 16245 |
| Downer EDI, Ltd.  | 2875103 | 15312 |
| Zedcor, Inc. <sup>(b)(c)</sup>  | 4298000 | 15047 |
| easyJet PLC  | 3000000 | 13909 |
| LIG Nex1 Co., Ltd.  | 32656 | 12794 |
| Motiva Infraestrutura de Mobilidade SA  | 3863390 | 11792 |
| Stratasys, Ltd. <sup>(b)</sup>  | 1357460 | 10602 |
| 3D Systems Corp. <sup>(b)</sup>  | 5208333 | 9792 |
| Xometry, Inc., Class A <sup>(b)</sup>  | 233629 | 9541 |
| Herc Holdings, Inc.  | 85681 | 8530 |
| Impro Precision Industries, Ltd.  | 5005000 | 5047 |
| Voltronic Power Technology Corp.  | 137000 | 3160 |
|  |  | 22769564 |
| **Financials 14.19%** | **Financials 14.19%** | **Financials 14.19%** |
| National Bank of Greece SA  | 23035318 | 357027 |
| Essent Group, Ltd. <sup>(a)</sup>  | 5196102 | 303660 |
| 360 ONE WAM, Ltd. <sup>(a)</sup>  | 28444417 | 287771 |
| RenaissanceRe Holdings, Ltd.  | 952200 | 283022 |
| Paymentus Holdings, Inc., Class A <sup>(b)</sup>  | 11034196 | 280269 |
| Affirm Holdings, Inc., Class A <sup>(b)</sup>  | 6002479 | 275034 |
| Gunma Bank, Ltd. (The) <sup>(a)(c)</sup>  | 20202800 | 267853 |
| BNK Financial Group, Inc. <sup>(a)</sup>  | 20791215 | 244165 |
| Glacier Bancorp, Inc.  | 5404641 | 241425 |

---

---

| | |
|:---|:---|
| **3** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| SouthState Bank Corp.  | 2582612 | $238943 |
| Porto Seguro SA  | 24351345 | 237456 |
| JB Financial Group Co., Ltd. <sup>(a)</sup>  | 11589525 | 225975 |
| VZ Holding AG  | 1148148 | 218099 |
| Plus500, Ltd. <sup>(a)</sup>  | 3557678 | 192067 |
| Storebrand ASA  | 10440019 | 188703 |
| Wintrust Financial Corp.  | 1334466 | 185411 |
| First American Financial Corp.  | 3036248 | 183055 |
| IG Group Holdings PLC  | 9064546 | 170972 |
| StepStone Group, Inc., Class A  | 3562901 | 170022 |
| Stifel Financial Corp.  | 2134089 | 157752 |
| Marex Group PLC  | 3488093 | 155499 |
| AU Small Finance Bank, Ltd.  | 17263299 | 154752 |
| Manappuram Finance, Ltd. <sup>(a)</sup>  | 56510438 | 150927 |
| Vontobel Holding AG  | 1690538 | 146693 |
| Kyoto Financial Group, Inc. <sup>(c)</sup>  | 5500000 | 143442 |
| Home BancShares, Inc.  | 5239158 | 141091 |
| Max Financial Services, Ltd. <sup>(b)</sup>  | 8692157 | 137277 |
| GQG Partners, Inc. (CDI)  | 112399478 | 135616 |
| Victory Capital Holdings, Inc., Class A  | 1996309 | 130718 |
| Eurobank SA  | 31418721 | 126153 |
| Banca Generali SpA  | 2097044 | 125044 |
| Nova Ljubljanska Banka dd (GDR)  | 2512833 | 124599 |
| SiriusPoint, Ltd. <sup>(b)</sup>  | 5680193 | 122351 |
| Cholamandalam Investment and Finance Co., Ltd.  | 8318773 | 120358 |
| IIFL Finance, Ltd. <sup>(a)</sup>  | 25643895 | 118004 |
| First Interstate BancSystem, Inc., Class A  | 3436966 | 114795 |
| Nuvama Wealth Management, Ltd.  | 8993738 | 114649 |
| AUB Group, Ltd. <sup>(a)</sup>  | 6654579 | 112601 |
| HDFC Asset Management Co., Ltd.  | 4557712 | 110366 |
| Fifth Third Bancorp  | 2330915 | 108294 |
| Pluxee NV  | 8627432 | 105702 |
| Discovery, Ltd.  | 7064444 | 103849 |
| SLM Corp.  | 4771231 | 102152 |
| WisdomTree, Inc. <sup>(c)</sup>  | 6811059 | 99169 |
| Hokuhoku Financial Group, Inc. <sup>(c)</sup>  | 2583100 | 97236 |
| FirstCash Holdings, Inc.  | 508060 | 95515 |
| Euronext NV  | 585333 | 94179 |
| Lazard, Inc., Class A  | 2182474 | 92711 |
| Nordnet AB  | 2810653 | 91350 |
| Alpha Bank SA  | 24000000 | 89163 |
| Kinsale Capital Group, Inc.  | 257620 | 88018 |
| EZCORP, Inc., Class A, nonvoting shares <sup>(b)</sup>  | 3438109 | 87259 |
| Goosehead Insurance, Inc., Class A <sup>(a)(b)</sup>  | 1972271 | 84137 |
| Home First Finance Company India, Ltd. <sup>(a)</sup>  | 8339518 | 81845 |
| Slide Insurance Holdings, Inc. <sup>(b)</sup>  | 4483180 | 80697 |
| East West Bancorp, Inc.  | 721680 | 77047 |
| Asia Commercial Joint Stock Bank  | 79461623 | 71634 |
| City Union Bank, Ltd.  | 27867523 | 71413 |
| Antin Infrastructure Partners SA <sup>(c)</sup>  | 5753967 | 68449 |
| Accelerant Holdings, Class A <sup>(b)(c)</sup>  | 5038094 | 67309 |
| Baldwin Insurance Group, Inc. (The), Class A <sup>(b)</sup>  | 3019574 | 66249 |
| BSE, Ltd.  | 2219334 | 63531 |
| Janus Henderson Group PLC  | 1200041 | 61646 |
| Optima bank SA  | 6079764 | 60554 |
| Neptune Insurance Holdings, Inc. <sup>(b)</sup>  | 2449154 | 59245 |
| EFG International AG  | 2750000 | 58484 |
| Norion Bank AB <sup>(a)(b)</sup>  | 9838520 | 58459 |
| RBL Bank, Ltd.  | 18803279 | 58443 |
| Sprott, Inc.  | 408763 | 58333 |
| flatexDEGIRO SE  | 1639373 | 55948 |
| Bolsa Mexicana de Valores, SAB de CV, Series A  | 25669735 | 54310 |
| Tikehau Capital SCA, non-registered shares <sup>(c)</sup>  | 2861823 | 53744 |
| Trupanion, Inc. <sup>(b)</sup>  | 2090480 | 53537 |
| Hamilton Lane, Inc., Class A  | 534202 | 53100 |
| Stewart Information Services Corp.  | 858416 | 52861 |
| Perella Weinberg Partners, Class A  | 2602595 | 47263 |
| Evercore, Inc., Class A  | 155769 | 46499 |

---

SMALLCAP World Fund<sub>4</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Banco del Bajio, SA  | 14716499 | $45653 |
| L&T Finance, Ltd.  | 17835312 | 45545 |
| Edenred SA  | 2250169 | 44802 |
| NMI Holdings, Inc. <sup>(b)</sup>  | 1150000 | 43137 |
| Patria Investments, Ltd., Class A <sup>(c)</sup>  | 3420857 | 43103 |
| NCR Atleos Corp. <sup>(b)</sup>  | 978077 | 42625 |
| Netwealth Group, Ltd.  | 2751773 | 42090 |
| Rasan Information Technology Co. <sup>(b)</sup>  | 1162791 | 42056 |
| Remitly Global, Inc. <sup>(b)</sup>  | 2636545 | 41315 |
| Moelis & Co., Class A  | 719000 | 40983 |
| Federal Agricultural Mortgage Corp., Class C, nonvoting shares  | 275768 | 40910 |
| Capitec Bank Holdings, Ltd.  | 159933 | 39265 |
| Towne Bank  | 1110044 | 37375 |
| Valiant Holding AG  | 165250 | 36875 |
| Skyward Specialty Insurance Group, Inc. <sup>(b)</sup>  | 831378 | 36315 |
| Aptus Value Housing Finance India, Ltd.  | 17288291 | 35702 |
| XP, Inc., Class A  | 1867000 | 35548 |
| Regional, SAB de CV, Class A  | 3997738 | 34352 |
| Qualitas Controladora, SAB de CV <sup>(c)</sup>  | 3500000 | 33594 |
| Roko AB, Class B <sup>(b)(c)</sup>  | 207519 | 33490 |
| UP Fintech Holding, Ltd. (ADR) <sup>(b)</sup>  | 5275976 | 33239 |
| Swissquote Group Holding, Ltd.  | 66940 | 33006 |
| OneMain Holdings, Inc.  | 580545 | 31053 |
| Columbia Banking System, Inc.  | 1063800 | 29180 |
| National Securities Depository, Ltd.  | 3243402 | 27744 |
| Ridgepost Capital, Inc., Class A <sup>(c)</sup>  | 3790553 | 27519 |
| Pine Labs, Ltd. <sup>(b)(e)(f)</sup>  | 17054248 | 27469 |
| Bank of Hawaii Corp.  | 368997 | 27398 |
| Central Depository Services (India), Ltd.  | 2199032 | 27317 |
| TMBThanachart Bank PCL, foreign registered shares  | 365868600 | 26050 |
| Artisan Partners Asset Management, Inc., Class A  | 705000 | 25655 |
| Funding Circle Holdings PLC <sup>(b)</sup>  | 14713073 | 25086 |
| Marqeta, Inc., Class A <sup>(b)</sup>  | 6129375 | 25008 |
| Qualitas, Ltd. <sup>(a)</sup>  | 15100000 | 24968 |
| Capri Global Capital, Ltd.  | 13500000 | 24362 |
| PJT Partners, Inc., Class A  | 174300 | 24353 |
| Haci Amer Sabanci Holding AS  | 11496097 | 23561 |
| Pinnacle Investment Management Group, Ltd.  | 2339196 | 23152 |
| Figure Technology Solutions, Inc. <sup>(b)(c)</sup>  | 670806 | 22774 |
| Warsaw Stock Exchange, Class B, non-registered shares <sup>(c)</sup>  | 1154230 | 22320 |
| TWFG, Inc., Class A <sup>(b)</sup>  | 1065732 | 19599 |
| Root, Inc., Class A <sup>(b)</sup>  | 436224 | 19268 |
| Linc AB <sup>(b)(c)</sup>  | 2358208 | 17889 |
| Houlihan Lokey, Inc., Class A  | 112959 | 16223 |
| PB Fintech, Ltd. <sup>(b)</sup>  | 1054471 | 16213 |
| AGI, Inc., Class A <sup>(b)</sup>  | 2175000 | 15812 |
| TMX Group, Ltd.  | 433856 | 15385 |
| Ethos Technologies, Inc., Class A <sup>(b)(c)</sup>  | 1315789 | 14697 |
| Generation Development Group, Ltd.  | 3171745 | 9283 |
|  |  | 11483268 |
| **Information technology 14.11%** | **Information technology 14.11%** | **Information technology 14.11%** |
| Lumentum Holdings, Inc. <sup>(b)</sup>  | 1469014 | 1032364 |
| Kokusai Electric Corp. <sup>(a)</sup>  | 19049173 | 631210 |
| MKS, Inc.  | 2559003 | 588085 |
| Fabrinet, non-registered shares <sup>(b)</sup>  | 800153 | 417296 |
| Viavi Solutions, Inc. <sup>(a)(b)</sup>  | 11570319 | 385060 |
| eMemory Technology, Inc. <sup>(a)</sup>  | 4073497 | 354411 |
| Jentech Precision Industrial Co., Ltd.  | 2754467 | 341082 |
| Global Unichip Corp.  | 4823403 | 336699 |
| Semtech Corp. <sup>(b)</sup>  | 4337655 | 333522 |
| Maruwa Co., Ltd. <sup>(a)</sup>  | 875936 | 306688 |
| ASMPT, Ltd. <sup>(a)</sup>  | 21782315 | 284105 |
| Lattice Semiconductor Corp. <sup>(b)</sup>  | 2859824 | 265277 |
| GPGI, Inc., Class A <sup>(a)(e)</sup>  | 9815992 | 167854 |
| GPGI, Inc., Class A <sup>(a)</sup>  | 4711649 | 80569 |

---

---

| | |
|:---|:---|
| **5** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Information technology (continued)** | **Information technology (continued)** | **Information technology (continued)** |
| Impinj, Inc. <sup>(a)(b)</sup>  | 2360099 | $242382 |
| MACOM Technology Solutions Holdings, Inc. <sup>(b)</sup>  | 1077575 | 239297 |
| Nova, Ltd. <sup>(b)</sup>  | 544097 | 236290 |
| Dexerials Corp. <sup>(a)(c)</sup>  | 15484500 | 213363 |
| FIT Hon Teng, Ltd. <sup>(b)(c)</sup>  | 212325000 | 190288 |
| Allegro MicroSystems, Inc. <sup>(b)</sup>  | 5650629 | 178164 |
| Celestica, Inc. <sup>(b)</sup>  | 596196 | 167937 |
| OSI Systems, Inc. <sup>(b)</sup>  | 619479 | 164478 |
| RingCentral, Inc., Class A  | 4324911 | 160843 |
| Kitron ASA <sup>(a)</sup>  | 15670530 | 152688 |
| Rogers Corp. <sup>(a)(b)</sup>  | 1371374 | 147190 |
| Silicon Laboratories, Inc. <sup>(b)</sup>  | 695240 | 144714 |
| Soitec <sup>(a)(b)</sup>  | 2348530 | 143430 |
| Taiwan Union Technology Corp.  | 7270000 | 133216 |
| Lagercrantz Group AB, Class B  | 6111880 | 130125 |
| King Slide Works Co., Ltd.  | 1176946 | 119335 |
| Kulicke and Soffa Industries, Inc.  | 1744923 | 114676 |
| Klaviyo, Inc., Class A <sup>(b)</sup>  | 5723953 | 111388 |
| Fastly, Inc., Class A <sup>(b)</sup>  | 3723737 | 108212 |
| Aixtron SE  | 2733700 | 102873 |
| Disco Corp.  | 235000 | 94164 |
| Unity Software, Inc. <sup>(b)</sup>  | 3936332 | 86363 |
| TTM Technologies, Inc. <sup>(b)</sup>  | 827805 | 80645 |
| OBIC Business Consultants Co., Ltd. <sup>(c)</sup>  | 1924000 | 76639 |
| Credo Technology Group Holding, Ltd. <sup>(b)</sup>  | 815588 | 76559 |
| Lotes Co., Ltd.  | 1129000 | 74810 |
| Lumine Group, Inc., subordinate voting shares <sup>(b)(c)</sup>  | 4347876 | 69261 |
| Ralliant Corp.  | 1652364 | 68722 |
| Q2 Holdings, Inc. <sup>(b)</sup>  | 1441575 | 68187 |
| Globant SA <sup>(b)</sup>  | 1468225 | 67700 |
| Astera Labs, Inc. <sup>(b)</sup>  | 600000 | 65760 |
| Rubrik, Inc., Class A <sup>(b)</sup>  | 1281667 | 62763 |
| Skyworks Solutions, Inc.  | 1164549 | 62362 |
| Cognex Corp.  | 1236941 | 60598 |
| Riken Keiki Co., Ltd. <sup>(a)</sup>  | 3116152 | 58961 |
| Power Integrations, Inc.  | 1112390 | 56954 |
| Elite Material Co., Ltd.  | 679000 | 56844 |
| Eugene Technology Co., Ltd.  | 761111 | 56577 |
| HPSP Co., Ltd.  | 1926631 | 54922 |
| Shibaura Mechatronics Corp. <sup>(c)</sup>  | 2085400 | 54675 |
| MongoDB, Inc., Class A <sup>(b)</sup>  | 220281 | 53918 |
| Azbil Corp.  | 6077300 | 52586 |
| Cipher Digital, Inc. <sup>(b)(c)</sup>  | 3885615 | 50008 |
| Megaport, Ltd. <sup>(a)(b)</sup>  | 9263592 | 48363 |
| INFICON Holding AG <sup>(c)</sup>  | 384305 | 48302 |
| BlackBuck, Ltd. <sup>(b)</sup>  | 7603135 | 46878 |
| ServiceTitan, Inc., Class A <sup>(b)</sup>  | 638308 | 40507 |
| Nayax, Ltd. <sup>(b)</sup>  | 715793 | 40464 |
| Procore Technologies, Inc. <sup>(b)</sup>  | 700000 | 39900 |
| Dynavox Group AB  | 4225000 | 39766 |
| EPAM Systems, Inc. <sup>(b)</sup>  | 292124 | 39554 |
| Okta, Inc., Class A <sup>(b)</sup>  | 500000 | 39355 |
| Accton Technology Corp.  | 803000 | 39099 |
| Qorvo, Inc. <sup>(b)</sup>  | 500999 | 38777 |
| Ingram Micro Holding Corp. <sup>(c)</sup>  | 1617257 | 37698 |
| Amano Corp. <sup>(c)</sup>  | 1522700 | 36490 |
| Presight AI Holding PLC <sup>(b)</sup>  | 43855522 | 35295 |
| Cellebrite DI, Ltd. <sup>(b)</sup>  | 2493548 | 34361 |
| Riskified, Ltd., Class A <sup>(b)</sup>  | 8313598 | 32589 |
| Via Transportation, Inc., Class A <sup>(b)(c)</sup>  | 1998823 | 29982 |
| Clearwater Analytics Holdings, Inc., Class A <sup>(b)</sup>  | 1260099 | 29801 |
| Money Forward, Inc. <sup>(b)(c)</sup>  | 1310249 | 29013 |
| Codan, Ltd.  | 1314344 | 28947 |
| Agilysys, Inc. <sup>(b)</sup>  | 393618 | 28002 |
| Monday.com, Ltd. <sup>(b)</sup>  | 405134 | 27999 |
| Kinaxis, Inc. <sup>(b)</sup>  | 260388 | 26280 |
| Reply SpA  | 280568 | 26167 |
| MARA Holdings, Inc. <sup>(b)(c)</sup>  | 3021533 | 24656 |

---

SMALLCAP World Fund<sub>6</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Information technology (continued)** | **Information technology (continued)** | **Information technology (continued)** |
| Softcat PLC  | 1503097 | $24342 |
| Bechtle AG, non-registered shares <sup>(c)</sup>  | 716884 | 24244 |
| AAC Technologies Holdings, Inc.  | 5565831 | 23746 |
| Rorze Corp. <sup>(c)</sup>  | 1277900 | 21828 |
| Kinsus Interconnect Technology Corp. <sup>(b)</sup>  | 1959000 | 20136 |
| GitLab, Inc., Class A <sup>(b)</sup>  | 849257 | 18378 |
| Rigaku Holdings Corp. <sup>(c)</sup>  | 1349300 | 17741 |
| Netskope, Inc., Class A <sup>(b)(c)</sup>  | 2009441 | 17060 |
| Kaynes Technology India, Ltd. <sup>(b)</sup>  | 446921 | 17010 |
| Novanta, Inc. <sup>(b)</sup>  | 134552 | 15892 |
| PAR Technology Corp. <sup>(b)(c)</sup>  | 1130592 | 15071 |
| Dock, Ltd. <sup>(b)(d)(e)</sup>  | 4318937 | 14598 |
| Wolfspeed, Inc. <sup>(b)(c)</sup>  | 750921 | 12255 |
| VNET Group, Inc., Class A (ADR) <sup>(b)(c)</sup>  | 1453259 | 12193 |
| Nemetschek SE  | 150321 | 11064 |
| Itron, Inc. <sup>(b)</sup>  | 112638 | 10096 |
| Topicus.com, Inc., subordinate voting shares <sup>(b)(c)</sup>  | 113877 | 7526 |
| Noventiq Holdings PLC (GDR) <sup>(b)(d)(g)</sup>  | 17110290 | 4962 |
| Noventiq Holdings PLC (GDR) <sup>(b)(d)</sup>  | 16060 | 5 |
| Bitdeer Technologies Group, Class A <sup>(b)(c)</sup>  | 486525 | 4208 |
| Foursquare Labs, Inc., Series A <sup>(b)(d)(e)</sup>  | 1970385 | 1261 |
| Kandou Holding SA <sup>(a)(b)(d)</sup>  | 4400000 | 990 |
| Yotpo, Ltd. <sup>(b)(d)(e)</sup>  | 2620102 | 838 |
| Tarana Wireless, Inc., Class C <sup>(b)(d)</sup>  | 862071 | 336 |
|  |  | 11419114 |
| **Consumer discretionary 12.57%** | **Consumer discretionary 12.57%** | **Consumer discretionary 12.57%** |
| TopBuild Corp. <sup>(a)(b)</sup>  | 2024568 | 711231 |
| CAVA Group, Inc. <sup>(b)(c)</sup>  | 5808148 | 469879 |
| Dollarama, Inc.  | 3596930 | 441452 |
| Lottomatica Group SpA  | 11904805 | 343622 |
| Cavco Industries, Inc. <sup>(a)(b)</sup>  | 660036 | 319649 |
| Wayfair, Inc., Class A <sup>(b)</sup>  | 3824194 | 287618 |
| Games Workshop Group PLC  | 1198242 | 282452 |
| Patrick Industries, Inc. <sup>(a)</sup>  | 2525383 | 280494 |
| Toll Brothers, Inc.  | 1927000 | 262978 |
| Ollies Bargain Outlet Holdings, Inc. <sup>(b)</sup>  | 2749368 | 253052 |
| Wyndham Hotels & Resorts, Inc.  | 2889743 | 234734 |
| Global-E Online, Ltd. <sup>(b)</sup>  | 6955665 | 214582 |
| Five Below, Inc. <sup>(b)</sup>  | 885288 | 202271 |
| Tube Investments of India, Ltd.  | 7294165 | 200838 |
| Light & Wonder, Inc. CHESS Depositary Interest <sup>(b)</sup>  | 1969332 | 165028 |
| Brinker International, Inc. <sup>(b)</sup>  | 1133626 | 161848 |
| BRP, Inc.  | 2245332 | 161407 |
| Floor & Decor Holdings, Inc., Class A <sup>(b)</sup>  | 3162848 | 160673 |
| KB Home  | 2957918 | 153072 |
| Champion Homes, Inc. <sup>(b)</sup>  | 2032060 | 151124 |
| LKQ Corp.  | 5013044 | 147233 |
| Bright Horizons Family Solutions, Inc. <sup>(b)</sup>  | 1600194 | 131424 |
| Metaplanet, Inc. <sup>(a)(b)(c)</sup>  | 68029820 | 130927 |
| B&M European Value Retail PLC <sup>(a)(c)</sup>  | 56599195 | 127474 |
| Inchcape PLC  | 12741321 | 126027 |
| Wynn Resorts, Ltd. <sup>(c)</sup>  | 1240838 | 126007 |
| Meritage Homes Corp.  | 1987850 | 122929 |
| Polaris, Inc.  | 2241634 | 122169 |
| Caesars Entertainment, Inc. <sup>(b)</sup>  | 4620852 | 122129 |
| Cairn Homes PLC (GBP denominated) <sup>(a)</sup>  | 34785383 | 83115 |
| Cairn Homes PLC (EUR denominated) <sup>(a)</sup>  | 12732924 | 31158 |
| Moncler SpA  | 1849594 | 111470 |
| Wingstop, Inc.  | 715249 | 110842 |
| Thor Industries, Inc.  | 1379888 | 110239 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(b)</sup>  | 5558251 | 103939 |
| Lennar Corp., Class A  | 1058458 | 91916 |
| Lennar Corp., Class B  | 21169 | 1781 |
| Covista, Inc. <sup>(b)</sup>  | 807026 | 93010 |
| Coats Group PLC  | 85101150 | 90913 |

---

---

| | |
|:---|:---|
| **7** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| Kontoor Brands, Inc.  | 1276410 | $89719 |
| Century Communities, Inc. <sup>(a)</sup>  | 1512000 | 86759 |
| Dominos Pizza Enterprises, Ltd. <sup>(a)</sup>  | 7568171 | 85693 |
| Acushnet Holdings Corp.  | 900000 | 84132 |
| Vibra Energia SA  | 13716707 | 83733 |
| Installed Building Products, Inc.  | 305702 | 81057 |
| tonies SE, Class A <sup>(a)(b)(c)</sup>  | 6824958 | 80687 |
| Pepkor Holdings, Ltd.  | 55756981 | 74973 |
| AUTO1 Group SE <sup>(b)(c)</sup>  | 4100106 | 72034 |
| RH <sup>(b)(c)</sup>  | 509883 | 71292 |
| Watches of Switzerland Group PLC <sup>(a)(b)</sup>  | 11736374 | 69620 |
| Rusta AB  | 6372700 | 63248 |
| Sega Sammy Holdings, Inc. <sup>(c)</sup>  | 3919700 | 60374 |
| Darden Restaurants, Inc.  | 303300 | 59459 |
| Jumbo SA  | 2300000 | 58903 |
| Berkeley Group Holdings PLC <sup>(b)</sup>  | 1221489 | 55991 |
| Churchill Downs, Inc.  | 588074 | 52827 |
| JVCKENWOOD Corp. <sup>(c)</sup>  | 7547100 | 52722 |
| Navan, Inc. <sup>(b)(c)</sup>  | 3783338 | 50091 |
| Texas Roadhouse, Inc.  | 302511 | 49957 |
| Valeo SA, non-registered shares  | 3890669 | 47674 |
| Food & Life Cos., Ltd.  | 804100 | 47589 |
| DPC Dash, Ltd. <sup>(a)(b)</sup>  | 7648786 | 47436 |
| Aditya Vision, Ltd. <sup>(a)</sup>  | 9068719 | 45713 |
| Guzman y Gomez, Ltd.  | 4014334 | 44844 |
| DraftKings, Inc., Class A <sup>(b)</sup>  | 2035103 | 43999 |
| Evolution AB  | 650000 | 40538 |
| VF Corp.  | 2380695 | 40448 |
| Genda, Inc. <sup>(a)(c)</sup>  | 9631644 | 36451 |
| Puuilo OYJ  | 2409305 | 35522 |
| Brunello Cucinelli SpA <sup>(c)</sup>  | 405774 | 35374 |
| OneSpaWorld Holdings, Ltd.  | 1528664 | 35083 |
| Grand Canyon Education, Inc. <sup>(b)</sup>  | 201441 | 34251 |
| Entain PLC  | 4389702 | 33147 |
| Smartfit Escola de Ginastica e Danca SA  | 8871154 | 32814 |
| Beazer Homes USA, Inc. <sup>(a)(b)</sup>  | 1659813 | 31935 |
| AcadeMedia AB (publ)  | 3000000 | 31835 |
| Liberty Live Holdings, Inc., Class C <sup>(b)</sup>  | 329930 | 31050 |
| IDP Education, Ltd.  | 10513817 | 30207 |
| Domino's Pizza Group PLC <sup>(c)</sup>  | 12744979 | 29165 |
| Warby Parker, Inc., Class A <sup>(b)</sup>  | 1364256 | 28745 |
| ThredUp, Inc., Class A <sup>(b)</sup>  | 8707600 | 28561 |
| Belrise Industries, Ltd.  | 13656269 | 27613 |
| Cartrade Tech, Ltd. <sup>(b)</sup>  | 1565495 | 27557 |
| Groupe Dynamite, Inc. <sup>(c)</sup>  | 498497 | 27446 |
| Maruchiyo Yamaokaya Corp. <sup>(a)</sup>  | 1215700 | 27251 |
| Vail Resorts, Inc. <sup>(c)</sup>  | 209583 | 26894 |
| Zalando SE, non-registered shares <sup>(b)</sup>  | 1103000 | 26388 |
| Winnebago Industries, Inc.  | 850825 | 26367 |
| MRF, Ltd.  | 18339 | 25388 |
| FPT Digital Retail Joint Stock Co. <sup>(b)</sup>  | 4007900 | 24270 |
| Amber Enterprises India, Ltd. <sup>(b)</sup>  | 345077 | 24101 |
| YETI Holdings, Inc. <sup>(b)</sup>  | 641400 | 23469 |
| Pattern Group, Inc., Class A <sup>(b)(c)</sup>  | 1750000 | 21752 |
| Minth Group, Ltd.  | 5000000 | 21024 |
| Zhejiang Weixing Industrial Development Co., Ltd., Class A  | 14047260 | 20131 |
| Yonex Co., Ltd. <sup>(c)</sup>  | 1029000 | 19334 |
| Sankyo Co., Ltd. <sup>(c)</sup>  | 1459100 | 17980 |
| Bath & Body Works, Inc.  | 916443 | 17110 |
| Pool Corp.  | 82506 | 16693 |
| Central Automotive Products, Ltd.  | 1311400 | 15864 |
| Nien Made Enterprise Co., Ltd.  | 1382018 | 14433 |
| Physicswallah, Ltd. <sup>(b)</sup>  | 15047087 | 13997 |
| MIPS AB <sup>(c)</sup>  | 543100 | 13504 |
| Malibu Boats, Inc., Class A <sup>(b)</sup>  | 515206 | 13354 |
| Savers Value Village, Inc. <sup>(b)(c)</sup>  | 1586468 | 11803 |
| Barratt Redrow PLC  | 3315285 | 11597 |
| Camping World Holdings, Inc., Class A  | 1060774 | 7245 |

---

SMALLCAP World Fund<sub>8</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| StockX, Inc. <sup>(b)(d)(e)</sup>  | 161790 | $4886 |
| Brilliant Earth Group, Inc., Class A  | 1052309 | 1400 |
| BNN Technology PLC <sup>(a)(b)(d)</sup>  | 19007000 | — <br><sup>(h)</sup><br>|
|  |  | 10167209 |
| **Health care 9.86%** | **Health care 9.86%** | **Health care 9.86%** |
| Ionis Pharmaceuticals, Inc. <sup>(b)</sup>  | 4458145 | 334762 |
| NewAmsterdam Pharma Co. NV <sup>(a)(b)(c)</sup>  | 8396080 | 268759 |
| Ensign Group, Inc. (The)  | 1279133 | 257745 |
| Max Healthcare Institute, Ltd.  | 22719926 | 236130 |
| Bio-Rad Laboratories, Inc., Class A <sup>(b)</sup>  | 756037 | 210745 |
| Xenon Pharmaceuticals, Inc. <sup>(b)</sup>  | 3501794 | 203629 |
| Molina Healthcare, Inc. <sup>(b)</sup>  | 1490909 | 198738 |
| Laurus Labs, Ltd.  | 18273653 | 197439 |
| Krystal Biotech, Inc. <sup>(b)</sup>  | 752244 | 194320 |
| Centessa Pharmaceuticals PLC (ADR) <sup>(b)(c)</sup>  | 4422431 | 175659 |
| IDEAYA Biosciences, Inc. <sup>(a)(b)</sup>  | 4684432 | 156085 |
| Bio-Techne Corp.  | 2891811 | 151126 |
| Asker Healthcare Group AB <sup>(a)</sup>  | 20223046 | 149406 |
| Glaukos Corp. <sup>(b)</sup>  | 1362403 | 146676 |
| InSilico Medicine Cayman TopCo <sup>(b)(f)</sup>  | 13568160 | 98799 |
| InSilico Medicine Cayman TopCo <sup>(b)</sup>  | 6459813 | 47039 |
| Insmed, Inc. <sup>(b)</sup>  | 856070 | 139985 |
| Cytokinetics, Inc. <sup>(b)</sup>  | 2114898 | 139393 |
| Penumbra, Inc. <sup>(b)</sup>  | 412644 | 135500 |
| Ascendis Pharma AS (ADR) <sup>(b)</sup>  | 579165 | 132472 |
| Addus HomeCare Corp. <sup>(a)(b)</sup>  | 1401299 | 131232 |
| Kymera Therapeutics, Inc. <sup>(b)</sup>  | 1486128 | 123780 |
| Spyre Therapeutics, Inc. <sup>(b)</sup>  | 2412693 | 121696 |
| Rapport Therapeutics, Inc. <sup>(a)(b)</sup>  | 3634580 | 113726 |
| Zealand Pharma AS <sup>(b)</sup>  | 2448720 | 113270 |
| Ottobock SE & Co. KGaA <sup>(c)</sup>  | 1778685 | 107774 |
| Cosmo Pharmaceuticals NV <sup>(a)</sup>  | 973665 | 102952 |
| Rhythm Pharmaceuticals, Inc. <sup>(b)</sup>  | 1120227 | 97426 |
| Jazz Pharmaceuticals PLC <sup>(b)</sup>  | 500000 | 94525 |
| Alignment Healthcare, Inc. <sup>(b)</sup>  | 5261841 | 92714 |
| ADMA Biologics, Inc. <sup>(b)</sup>  | 10279994 | 92623 |
| KRKA, dd, Novo mesto  | 335262 | 90247 |
| DexCom, Inc. <sup>(b)</sup>  | 1384000 | 86915 |
| Vitrolife AB <sup>(a)</sup>  | 7958964 | 79634 |
| Natera, Inc. <sup>(b)</sup>  | 396421 | 79280 |
| CRISPR Therapeutics AG <sup>(b)(c)</sup>  | 1647885 | 78390 |
| Siegfried Holding AG  | 808673 | 76605 |
| Innovent Biologics, Inc. <sup>(b)</sup>  | 6938500 | 76121 |
| Terns Pharmaceuticals, Inc. <sup>(b)</sup>  | 1424504 | 75100 |
| BONESUPPORT Holding AB <sup>(a)(b)(c)</sup>  | 3544651 | 73879 |
| Aster DM Healthcare, Ltd.  | 10058750 | 71841 |
| Guardant Health, Inc. <sup>(b)</sup>  | 772356 | 71343 |
| Encompass Health Corp.  | 725713 | 70198 |
| Mirum Pharmaceuticals, Inc. <sup>(b)</sup>  | 724415 | 66921 |
| Camurus AB <sup>(b)(c)</sup>  | 1288257 | 64333 |
| Vimian Group AB (publ) <sup>(b)(c)</sup>  | 21080735 | 62607 |
| Gubra AS <sup>(a)</sup>  | 1083271 | 60968 |
| Asahi Intecc Co., Ltd.  | 2744730 | 58557 |
| SAI Life Sciences, Ltd. <sup>(b)</sup>  | 5458706 | 57583 |
| Ambu AS, Class B, non-registered shares <sup>(c)</sup>  | 5279791 | 56784 |
| KalVista Pharmaceuticals, Inc. <sup>(a)(b)</sup>  | 2808583 | 56537 |
| Masimo Corp. <sup>(b)</sup>  | 317326 | 56443 |
| Sonida Senior Living, Inc. <sup>(b)</sup>  | 1743572 | 56230 |
| Scholar Rock Holding Corp. <sup>(b)</sup>  | 1128752 | 55489 |
| IRhythm Holdings, Inc. <sup>(b)</sup>  | 463814 | 54739 |
| Teleflex, Inc.  | 455825 | 54521 |
| Fisher & Paykel Healthcare Corp., Ltd.  | 2510000 | 54369 |
| AddLife AB, Class B  | 3471496 | 51534 |
| BridgeBio Pharma, Inc. <sup>(b)</sup>  | 681290 | 50593 |
| Classys, Inc.  | 1485618 | 49863 |

---

---

| | |
|:---|:---|
| **9** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| Elanco Animal Health, Inc. <sup>(b)</sup>  | 2078888 | $49748 |
| Globus Medical, Inc., Class A <sup>(b)</sup>  | 574500 | 49499 |
| J. B. Chemicals & Pharmaceuticals, Ltd.  | 2177323 | 47641 |
| Prestige Consumer Healthcare, Inc. <sup>(b)</sup>  | 803692 | 47635 |
| Zenas Biopharma, Inc. <sup>(b)(c)</sup>  | 2434000 | 47585 |
| Vaxcyte, Inc. <sup>(b)</sup>  | 814688 | 47342 |
| AbCellera Biologics, Inc. <sup>(b)</sup>  | 13361096 | 46630 |
| Generate Biomedicines, Inc. <sup>(b)</sup>  | 3650034 | 45625 |
| Alnylam Pharmaceuticals, Inc. <sup>(b)</sup>  | 137700 | 45561 |
| Denali Therapeutics, Inc. <sup>(b)</sup>  | 2208811 | 42409 |
| Halozyme Therapeutics, Inc. <sup>(b)</sup>  | 642361 | 41516 |
| Nanobiotix SA <sup>(b)</sup>  | 1362524 | 41097 |
| Shanghai Conant Optical Co., Ltd., Class H  | 6562500 | 39155 |
| TransMedics Group, Inc. <sup>(b)(c)</sup>  | 374177 | 37197 |
| Duality Biotherapeutics, Inc. <sup>(b)(c)</sup>  | 960200 | 37103 |
| Genus PLC  | 1124730 | 35692 |
| Insulet Corp. <sup>(b)</sup>  | 168000 | 35253 |
| Bruker Corp.  | 957692 | 34592 |
| Waystar Holding Corp. <sup>(b)</sup>  | 1426053 | 34382 |
| Dr. Lal PathLabs, Ltd.  | 2371495 | 32923 |
| Doximity, Inc., Class A <sup>(b)</sup>  | 1385674 | 32286 |
| 10x Genomics, Inc., Class A <sup>(b)</sup>  | 1452300 | 30832 |
| GeneDx Holdings Corp., Class A <sup>(b)(c)</sup>  | 459489 | 29508 |
| Apogee Therapeutics, Inc. <sup>(b)</sup>  | 348674 | 29348 |
| CONMED Corp.  | 801295 | 28334 |
| Kry International AB <sup>(b)(d)</sup>  | 918277 | 28010 |
| Strive, Inc. <sup>(b)(c)</sup>  | 2634073 | 26393 |
| Glenmark Pharmaceuticals, Ltd.  | 1153115 | 26120 |
| Granules India, Ltd.  | 3659095 | 24099 |
| Inhibrx Biosciences, Inc. <sup>(b)(c)</sup>  | 353292 | 23752 |
| Medincell SA <sup>(b)(c)</sup>  | 815344 | 21532 |
| Caris Life Sciences, Inc., Class A <sup>(b)(c)</sup>  | 1180173 | 21102 |
| AS ONE Corp. <sup>(c)</sup>  | 1477600 | 20652 |
| Indegene, Ltd.  | 3411405 | 15961 |
| Vicore Pharma Holding AB <sup>(b)</sup>  | 13694420 | 14575 |
| BillionToOne, Inc., Class A <sup>(b)(c)</sup>  | 178000 | 14051 |
| Nurix Therapeutics, Inc. <sup>(b)</sup>  | 893327 | 13847 |
| Align Technology, Inc. <sup>(b)</sup>  | 72819 | 12483 |
| Eikon Therapeutics, Inc. <sup>(b)</sup>  | 1143637 | 12100 |
| Legend Biotech Corp. (ADR) <sup>(b)</sup>  | 606196 | 10966 |
| Mineralys Therapeutics, Inc. <sup>(b)</sup>  | 398179 | 10787 |
| Biohaven, Ltd. <sup>(b)</sup>  | 1168175 | 9883 |
| ChemoMetec A/S  | 133394 | 6322 |
| Establishment Labs Holdings, Inc. <sup>(b)</sup>  | 102895 | 5842 |
| Nykode Therapeutics ASA <sup>(a)</sup>  | 17038219 | 5785 |
| Agios Pharmaceuticals, Inc. <sup>(b)</sup>  | 48616 | 1645 |
|  |  | 7978549 |
| **Materials 6.29%** | **Materials 6.29%** | **Materials 6.29%** |
| Lundin Mining Corp.  | 20306175 | 506377 |
| Celanese Corp. <sup>(a)</sup>  | 6811396 | 447985 |
| Resonac Holdings Co., Ltd.  | 5531696 | 361427 |
| Knife River Corp. <sup>(a)(b)</sup>  | 4141839 | 338181 |
| Royal Gold, Inc.  | 1236535 | 314686 |
| APL Apollo Tubes, Ltd. <sup>(a)</sup>  | 13953008 | 293644 |
| SOL SpA  | 3447653 | 236112 |
| Montage Gold Corp. <sup>(b)(c)</sup>  | 16469277 | 187412 |
| Mitsui Kinzoku Co., Ltd. <sup>(c)</sup>  | 947265 | 177626 |
| Sumitomo Bakelite Co., Ltd. <sup>(a)</sup>  | 5099500 | 158304 |
| Materion Corp. <sup>(a)</sup>  | 1050992 | 152026 |
| SigmaRoc PLC <sup>(a)(b)</sup>  | 89188362 | 139371 |
| Yamato Kogyo Co., Ltd. <sup>(c)</sup>  | 1613000 | 123791 |
| Novagold Resources, Inc. <sup>(b)</sup>  | 12333000 | 110750 |
| Vicat SACA  | 1439831 | 105099 |
| Element Solutions, Inc.  | 3060450 | 104484 |
| Warrior Met Coal, Inc.  | 1088263 | 101372 |

---

SMALLCAP World Fund<sub>10</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** | **Materials (continued)** | **Materials (continued)** |
| Louisiana-Pacific Corp.  | 1313497 | $95557 |
| Titan SA  | 1687989 | 88569 |
| Dyno Nobel, Ltd.  | 38033146 | 82478 |
| Lundin Gold, Inc.  | 1000000 | 76421 |
| Ramkrishna Forgings, Ltd. <sup>(a)</sup>  | 14482448 | 73388 |
| Kansai Paint Co., Ltd. <sup>(c)</sup>  | 4692000 | 70239 |
| Aura Minerals, Inc.  | 793040 | 64712 |
| Chugoku Marine Paints, Ltd. <sup>(a)(c)</sup>  | 2797900 | 59685 |
| James Hardie Industries PLC <sup>(b)</sup>  | 3114408 | 58987 |
| Perpetua Resources Corp. <sup>(b)</sup>  | 1803674 | 50719 |
| Talon Metals Corp. <sup>(a)(b)(c)</sup>  | 11026917 | 49939 |
| Asahi Yukizai Corp. <sup>(a)(c)</sup>  | 1313800 | 46760 |
| Hawkins, Inc.  | 279981 | 43005 |
| G Mining Ventures Corp. <sup>(b)(c)</sup>  | 1163990 | 40850 |
| Myers Industries, Inc.  | 1744184 | 36942 |
| Cabot Corp.  | 414462 | 31213 |
| Acerinox SA  | 1982640 | 28058 |
| Osaka Soda Co., Ltd. <sup>(c)</sup>  | 2287000 | 25256 |
| H.B. Fuller Co.  | 396860 | 24478 |
| Eldorado Gold Corp.  | 708220 | 24313 |
| Umicore SA  | 1278123 | 24200 |
| Mayr-Melnhof Karton AG, non-registered shares  | 224825 | 22896 |
| Hill & Smith PLC  | 763480 | 21414 |
| USA Rare Earth, Inc., Class A <sup>(b)(e)</sup>  | 1412999 | 18606 |
| Sibanye Stillwater, Ltd.  | 6002602 | 18356 |
| Arkema SA  | 269613 | 18346 |
| OR Royalties, Inc.  | 466254 | 17754 |
| Southern Cross Gold Consolidated, Ltd. <sup>(b)(c)</sup>  | 1714717 | 10909 |
| Wacker Chemie AG <sup>(c)</sup>  | 69288 | 6712 |
|  |  | 5089409 |
| **Energy 2.91%** | **Energy 2.91%** | **Energy 2.91%** |
| Weatherford International  | 3195289 | 302210 |
| Secure Waste Infrastructure Corp. <sup>(a)(c)</sup>  | 13955251 | 218994 |
| Cactus, Inc., Class A  | 3989651 | 188990 |
| Sable Offshore Corp. <sup>(a)(b)(c)(e)</sup>  | 6454543 | 106629 |
| Sable Offshore Corp. <sup>(a)(b)</sup>  | 3478384 | 57463 |
| CNX Resources Corp. <sup>(b)</sup>  | 4239650 | 163438 |
| Viper Energy, Inc., Class A  | 3375927 | 158635 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(b)</sup>  | 1924865 | 145270 |
| Vallourec SA <sup>(c)</sup>  | 5665431 | 140832 |
| Transocean, Ltd. <sup>(b)(c)</sup>  | 21176471 | 140400 |
| Ovintiv, Inc.  | 1961350 | 116426 |
| Topaz Energy Corp.  | 4241954 | 94286 |
| Headwater Exploration, Inc. <sup>(c)</sup>  | 6329671 | 58469 |
| Strathcona Resources, Ltd. <sup>(c)</sup>  | 1827338 | 55355 |
| Aegis Logistics, Ltd.  | 8099325 | 51473 |
| Noble Corp. PLC, Class A <sup>(c)</sup>  | 1046988 | 51376 |
| Energy Fuels, Inc. <sup>(b)(c)</sup>  | 2709424 | 49447 |
| DT Midstream, Inc.  | 356000 | 47943 |
| Denison Mines Corp. <sup>(b)</sup>  | 12316562 | 43477 |
| TerraVest Industries, Inc. <sup>(c)</sup>  | 437283 | 41566 |
| Friedrich Vorwerk Group SE  | 463137 | 37670 |
| Pason Systems, Inc.  | 3350000 | 31884 |
| DCC PLC  | 400872 | 24706 |
| Athabasca Oil Corp. <sup>(b)</sup>  | 2920200 | 23616 |
|  |  | 2350555 |
| **Consumer staples 2.62%** | **Consumer staples 2.62%** | **Consumer staples 2.62%** |
| Raia Drogasil SA, ordinary nominative shares  | 70653545 | 320951 |
| BBB Foods, Inc., Class A <sup>(b)</sup>  | 6671623 | 235975 |
| Freshpet, Inc. <sup>(a)(b)</sup>  | 2985886 | 176048 |
| e.l.f. Beauty, Inc. <sup>(b)(c)</sup>  | 2712911 | 164430 |
| Yamazaki Baking Co., Ltd.  | 7286900 | 163176 |
| Universal Robina Corp. <sup>(a)</sup>  | 121579139 | 131460 |

---

---

| | |
|:---|:---|
| **11** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples (continued)** | **Consumer staples (continued)** | **Consumer staples (continued)** |
| Kotobuki Spirits Co., Ltd. <sup>(a)(c)</sup>  | 10807615 | $125281 |
| BJ's Wholesale Club Holdings, Inc. <sup>(b)</sup>  | 1074290 | 105732 |
| Fever-Tree Drinks PLC <sup>(a)</sup>  | 9401181 | 95114 |
| Performance Food Group Co. <sup>(b)</sup>  | 928000 | 79492 |
| Emmi AG <sup>(c)</sup>  | 66938 | 71660 |
| Barry Callebaut AG <sup>(c)</sup>  | 32934 | 57744 |
| Royal Unibrew A/S  | 617959 | 50470 |
| Fresh Del Monte Produce, Inc.  | 1028000 | 41387 |
| Celsius Holdings, Inc. <sup>(b)</sup>  | 1074845 | 38135 |
| Tilaknager Industries, Ltd. <sup>(f)</sup>  | 6550000 | 29120 |
| Tilaknager Industries, Ltd.  | 833801 | 3707 |
| Lion Corp. <sup>(c)</sup>  | 2927400 | 30559 |
| Nissin Foods Holdings Co., Ltd.  | 1597900 | 30398 |
| Sprouts Farmers Market, Inc. <sup>(b)</sup>  | 392654 | 30285 |
| Century Pacific Food, Inc.  | 49093000 | 28493 |
| Kimberly-Clark de Mexico, SAB de CV, Class A, ordinary participation certificates  | 11719793 | 27745 |
| AAK AB <sup>(c)</sup>  | 819898 | 21149 |
| United Spirits, Ltd.  | 1627094 | 21001 |
| Redcare Pharmacy NV, non-registered shares <sup>(b)(c)</sup>  | 381230 | 16382 |
| PT Cisarua Mountain Dairy Tbk  | 54885700 | 14117 |
| Apotea AB (publ) <sup>(c)</sup>  | 1799156 | 12064 |
|  |  | 2122075 |
| **Real estate 1.89%** | **Real estate 1.89%** | **Real estate 1.89%** |
| Charter Hall Group REIT  | 17024180 | 221149 |
| Zillow Group, Inc., Class A <sup>(b)</sup>  | 2600000 | 107614 |
| Zillow Group, Inc., Class C, nonvoting shares <sup>(b)</sup>  | 1148442 | 47522 |
| Altus Group, Ltd. <sup>(a)</sup>  | 3114741 | 106915 |
| Compass, Inc., Class A <sup>(b)</sup>  | 11250973 | 82245 |
| International Workplace Group PLC  | 33845514 | 79316 |
| Kasumigaseki Capital Co., Ltd. <sup>(a)(c)</sup>  | 1964400 | 78656 |
| Four Corners Property Trust, Inc. REIT  | 3306687 | 78203 |
| American Healthcare REIT, Inc.  | 1413985 | 66683 |
| StorageVault Canada, Inc.  | 17250947 | 54564 |
| Katitas Co., Ltd. <sup>(c)</sup>  | 2490600 | 50033 |
| Mindspace Business Parks REIT  | 9000000 | 42762 |
| Poly Property Services Co., Ltd., Class H  | 10562340 | 42182 |
| Phoenix Mills, Ltd. (The)  | 2534230 | 41550 |
| Godrej Properties, Ltd. <sup>(b)</sup>  | 2500000 | 39145 |
| UMH Properties, Inc. REIT  | 2607487 | 37626 |
| Swedish Logistic Property AB, Class B <sup>(b)</sup>  | 8639069 | 33225 |
| Safestore Holdings PLC REIT  | 3729333 | 31457 |
| Corp. Inmobiliaria Vesta, SAB de CV <sup>(c)</sup>  | 9295077 | 31122 |
| Fastighets AB Balder, Class B <sup>(b)</sup>  | 5000000 | 29406 |
| Tritax Big Box REIT PLC  | 15500526 | 29226 |
| St. Joe Co.  | 460941 | 28947 |
| Prisma Properties AB <sup>(a)(b)</sup>  | 9781818 | 24652 |
| Lodha Developers, Ltd.  | 3328369 | 24134 |
| Embassy Office Parks REIT  | 4657425 | 20693 |
| Colliers International Group, Inc. <sup>(c)</sup>  | 185633 | 19847 |
| K-Fast Holding AB, Class B <sup>(a)(b)</sup>  | 18183928 | 19370 |
| Millrose Properties, Inc., Class A, REIT  | 539813 | 15115 |
| NTT DC REIT <sup>(b)</sup>  | 16477700 | 15109 |
| Redwood Trust, Inc. REIT  | 2562000 | 14373 |
| Genova Property Group AB <sup>(a)</sup>  | 2626731 | 10930 |
| RE / MAX Holdings, Inc., Class A <sup>(b)</sup>  | 1500000 | 8640 |
|  |  | 1532411 |
| **Communication services 1.67%** | **Communication services 1.67%** | **Communication services 1.67%** |
| Nippon Television Holdings, Inc. <sup>(a)</sup>  | 18842215 | 379160 |
| New York Times Co., Class A  | 1800000 | 150714 |
| Kadokawa Corp. <sup>(c)</sup>  | 5786100 | 139339 |
| Indosat Tbk PT  | 662419257 | 81977 |
| Stubhub Holdings, Inc., Class A <sup>(b)(c)</sup>  | 11075577 | 69112 |
| HYBE Co., Ltd.  | 300000 | 60380 |

---

SMALLCAP World Fund<sub>12</sub>

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Communication services (continued)** | **Communication services (continued)** | **Communication services (continued)** |
| LG Uplus Corp.  | 5938783 | $59979 |
| Magnite, Inc. <sup>(b)</sup>  | 4895360 | 58157 |
| Helios Towers PLC <sup>(b)</sup>  | 23263160 | 55945 |
| Trustpilot Group PLC <sup>(a)(b)</sup>  | 21602297 | 55792 |
| Hacksaw AB <sup>(c)</sup>  | 6136185 | 38725 |
| Zegona Communications PLC  | 1695159 | 37069 |
| JCDecaux SE  | 1138679 | 24623 |
| Vend Marketplaces ASA  | 978755 | 24358 |
| Hemnet Group AB <sup>(c)</sup>  | 1742590 | 19614 |
| Baltic Classifieds Group PLC  | 7820532 | 18919 |
| MTN Group, Ltd.  | 1458066 | 16919 |
| Ovzon AB <sup>(b)</sup>  | 2606753 | 14786 |
| Bharti Hexacom, Ltd.  | 900184 | 14442 |
| TIM SA  | 2397808 | 12712 |
| Future PLC  | 2689045 | 10557 |
| Boyaa Interactive International, Ltd. <sup>(b)(c)</sup>  | 17832000 | 6188 |
| Springer Nature AG & Co. KGaA, non-registered shares <sup>(c)</sup>  | 40772 | 850 |
|  |  | 1350317 |
| **Utilities 0.76%** | **Utilities 0.76%** | **Utilities 0.76%** |
| IDACORP, Inc.  | 1586800 | 226865 |
| Black Hills Corp.  | 1995636 | 138517 |
| Talen Energy Corp. <sup>(b)</sup>  | 348401 | 111220 |
| SembCorp Industries, Ltd.  | 16633185 | 86381 |
| Nippon Gas Co., Ltd. <sup>(c)</sup>  | 2710794 | 50401 |
| Mytrah Energy, Ltd. <sup>(a)(b)(d)</sup>  | 10418000 | — <br><sup>(h)</sup><br>|
|  |  | 613384 |
| **Total common stocks** (cost: $53,428,091,000) | **Total common stocks** (cost: $53,428,091,000) | 76875855 |
| Preferred securities 0.98% |  |  |
| **Information technology 0.42%** | **Information technology 0.42%** | **Information technology 0.42%** |
| PsiQuantum Corp., Series D, preferred shares <sup>(b)(d)(e)</sup>  | 1334542 | 53088 |
| PsiQuantum Corp., Series E, preferred shares <sup>(b)(d)(e)</sup>  | 1215769 | 49993 |
| Skyryse, Inc., Series B, preferred shares <sup>(a)(b)(d)(e)</sup>  | 1649110 | 39430 |
| Skyryse, Inc., Series C, preferred shares <sup>(a)(b)(d)(e)</sup>  | 925096 | 22906 |
| SiFive, Inc., Series F, preferred shares <sup>(b)(d)(e)</sup>  | 3451632 | 30112 |
| SiFive, Inc., Series G, preferred shares <sup>(b)(d)(e)</sup>  | 2521779 | 22000 |
| Tekion Corp., Series B, preferred shares <sup>(b)(d)(e)</sup>  | 6145506 | 47812 |
| Tekion Corp., Series A, preferred shares <sup>(b)(d)(e)</sup>  | 340980 | 2653 |
| Kandou Holding SA, Series A, preferred shares <sup>(a)(b)(d)(e)</sup>  | 103388888 | 23262 |
| Wayve Technologies, Ltd., Series D, preferred shares <sup>(b)(d)(e)</sup>  | 41115 | 22000 |
| ANDPAD, Inc., Series D, preferred shares <sup>(b)(d)(e)</sup>  | 459413 | 21243 |
| Outreach Corp., Series G, preferred shares <sup>(b)(d)(e)</sup>  | 1554053 | 3947 |
| Yotpo, Ltd., Series F, preferred shares <sup>(b)(d)(e)</sup>  | 8332809 | 2666 |
| Yotpo, Ltd., Series B, preferred shares <sup>(b)(d)(e)</sup>  | 1111347 | 356 |
| Yotpo, Ltd., Series C, preferred shares <sup>(b)(d)(e)</sup>  | 1057985 | 338 |
| Yotpo, Ltd., Series A-1, preferred shares <sup>(b)(d)(e)</sup>  | 709592 | 227 |
| Yotpo, Ltd., Series A, preferred shares <sup>(b)(d)(e)</sup>  | 345899 | 111 |
| Yotpo, Ltd., Series C-1, preferred shares <sup>(b)(d)(e)</sup>  | 293302 | 94 |
| Yotpo, Ltd., Series D, preferred shares <sup>(b)(d)(e)</sup>  | 163552 | 52 |
| Yotpo, Ltd., Series B-1, preferred shares <sup>(b)(d)(e)</sup>  | 130625 | 42 |
|  |  | 342332 |
| **Industrials 0.30%** | **Industrials 0.30%** | **Industrials 0.30%** |
| Zipline International, Inc., Series H, preferred shares <sup>(b)(d)(e)</sup>  | 2134570 | 120091 |
| Zipline International, Inc., Series G, preferred shares <sup>(b)(d)(e)</sup>  | 1192000 | 67062 |
| Einride AB, Series B, preferred shares <sup>(a)(b)(d)(e)</sup>  | 1334588 | 32417 |
| Einride AB, Series A, preferred shares <sup>(a)(b)(d)(e)</sup>  | 11990 | 292 |
| Workrise Technologies, Inc., Series E, preferred shares <sup>(b)(d)(e)</sup>  | 95423 | 15923 |
| Jungheinrich AG, nonvoting preferred shares  | 162853 | 4882 |
|  |  | 240667 |

---

---

| | |
|:---|:---|
| **13** | SMALLCAP World Fund |

---

------

---

| | | |
|:---|:---|:---|
| Preferred securities (continued) | Shares | Value<br> (000)<br>|
| **Financials 0.11%** | **Financials 0.11%** | **Financials 0.11%** |
| Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares <sup>(b)(c)</sup>  | 3980985 | $44985 |
| PPRO Holding GmbH, Series B-1, 8.00% preferred <br>shares <sup>(a)(b)(d)(e)</sup>  | 13618 | 39522 |
|  |  | 84507 |
| **Health care 0.09%** | **Health care 0.09%** | **Health care 0.09%** |
| Sail Biomedicines, Inc., Series B, 6.00% preferred shares <sup>(b)(d)(e)</sup>  | 1785714 | 31786 |
| Hemab Therapeutics Holdings, Inc., Series C, preferred <br>shares <sup>(a)(b)(d)(e)</sup>  | 98087 | 29998 |
| ClearNote Health, Inc., Series C, 5.00% noncumulative preferred shares <sup>(a)(b)(d)(e)</sup>  | 1531102 | 12800 |
|  |  | 74584 |
| **Real estate 0.05%** | **Real estate 0.05%** | **Real estate 0.05%** |
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(b)(d)(e)</sup>  | 244733 | 40875 |
| **Consumer discretionary 0.01%** | **Consumer discretionary 0.01%** | **Consumer discretionary 0.01%** |
| StockX, Inc., Series E-1, preferred shares <sup>(b)(d)(e)</sup>  | 222222 | 6711 |
| StockX, Inc., Series AA, preferred shares <sup>(b)(d)(e)</sup>  | 57338 | 1732 |
| StockX, Inc., Series B, preferred shares <sup>(b)(d)(e)</sup>  | 3094 | 93 |
|  |  | 8536 |
| **Total preferred securities** (cost: $868,846,000) | **Total preferred securities** (cost: $868,846,000) | 791501 |
| Rights & warrants 0.00% |  |  |
| **Information technology 0.00%** | **Information technology 0.00%** | **Information technology 0.00%** |
| Foursquare Labs, Inc., Series A, warrants, expire 12/4/2033 <sup>(b)(d)(e)</sup>  | 1163990 | — <br><sup>(h)</sup><br>|
| Kandou Holding SA, warrants, expire 8/18/2028 <sup>(a)(b)(d)(e)</sup>  | 2257143 | — <br><sup>(h)</sup><br>|
| **Total rights & warrants** (cost: $0) | **Total rights & warrants** (cost: $0) | — <br><sup>(h)</sup><br>|
| Convertible stocks 0.17% |  |  |
| **Information technology 0.07%** | **Information technology 0.07%** | **Information technology 0.07%** |
| Fluidstack, Ltd., Series A, convertible preferred shares <sup>(d)(e)</sup>  | 539868 | 40000 |
| Tarana Wireless, Inc., Series 6, noncumulative convertible preferred shares <sup>(d)(e)</sup>  | 14888589 | 9380 |
| Tarana Wireless, Inc., Series 8, noncumulative convertible preferred shares <sup>(d)(e)</sup>  | 1234727 | 1556 |
| Tarana Wireless, Inc., Series 7A, noncumulative convertible preferred shares <sup>(d)(e)</sup>  | 935103 | 692 |
| Tarana Wireless, Inc., Series 7, noncumulative convertible preferred shares <sup>(d)(e)</sup>  | 935103 | 692 |
| RealSelf, Inc., Series C, convertible preferred shares <sup>(a)(d)(e)</sup>  | 3468862 | 2185 |
|  |  | 54505 |
| **Consumer discretionary 0.04%** | **Consumer discretionary 0.04%** | **Consumer discretionary 0.04%** |
| Metaplanet, Inc., Class B, 5.00% perpetual cumulative preferred shares <sup>(a)(d)(e)</sup>  | 5902500 | 33472 |
| **Utilities 0.04%** | **Utilities 0.04%** | **Utilities 0.04%** |
| TAE Technologies, Inc., Series 11, 4.00% perpetual cumulative convertible preferred shares <sup>(e)</sup>  | 300000 | 24806 |
| TAE Technologies, Inc., Series 12, 4.00% perpetual convertible preferred shares <sup>(e)</sup>  | 137515 | 5685 |
|  |  | 30491 |
| **Health care 0.02%** | **Health care 0.02%** | **Health care 0.02%** |
| Candid Therapeutics, Inc., Class B, noncumulative convertible preferred shares <sup>(d)(e)</sup>  | 16666666 | 21000 |
| **Total convertible stocks** (cost: $161,240,000) | **Total convertible stocks** (cost: $161,240,000) | 139468 |

---

SMALLCAP World Fund<sub>14</sub>

------

---

| | | |
|:---|:---|:---|
| Convertible bonds & notes 0.09% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Information technology 0.09%** | **Information technology 0.09%** | **Information technology 0.09%** |
| PayClip, Inc., convertible notes, 4.50% Cash 12/15/2028 <sup>(d)(e)(i)</sup>  | USD25,314 | $33414 |
| Wolfspeed, Inc., convertible notes, 3.50% 3/15/2031 <sup>(d)(g)</sup>  | 22416 | 22811 |
| Wolfspeed, Inc., convertible notes, 2.50% 6/15/2031  | 5997 | 8583 |
| Wolfspeed, Inc., convertible notes, 2.50% 6/15/2031 <sup>(g)</sup>  | 2307 | 3302 |
|  |  | 68110 |
| **Health care 0.00%** | **Health care 0.00%** | **Health care 0.00%** |
| ClearNote Health, Inc., convertible notes, 8.00% <br>5/2/2026 <sup>(a)(d)(e)</sup>  | 2000 | 2112 |
| **Total convertible bonds & notes** (cost: $58,886,000) | **Total convertible bonds & notes** (cost: $58,886,000) | 70222 |
| Bonds, notes & other debt instruments 0.01% |  |  |
| **Corporate bonds and notes 0.01%** | **Corporate bonds and notes 0.01%** | **Corporate bonds and notes 0.01%** |
| **Information technology 0.01%** | **Information technology 0.01%** | **Information technology 0.01%** |
| Wolfspeed, Inc. 7.00% Cash 6/15/2031 (7.00% on 12/15/2030) <sup>(i)(j)</sup>  | 9072 | 7212 |
| **Total bonds, notes & other debt instruments** (cost: $10,321,000) | **Total bonds, notes & other debt instruments** (cost: $10,321,000) | 7212 |
| Short-term securities 4.69% | Shares |  |
| **Money market investments 3.94%** | **Money market investments 3.94%** | **Money market investments 3.94%** |
| Capital Group Central Cash Fund 3.71% <sup>(a)(k)</sup>  | 31860063 | 3185688 |
| **Money market investments purchased with collateral from securities on loan 0.75%** | **Money market investments purchased with collateral from securities on loan 0.75%** | **Money market investments purchased with collateral from securities on loan 0.75%** |
| BlackRock Liquidity Funds – FedFund, Institutional Shares 3.55% <sup>(k)(l)</sup>  | 115300000 | 115300 |
| Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 3.57% <sup>(k)(l)</sup>  | 115300000 | 115300 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 3.60% <sup>(k)(l)</sup>  | 97100000 | 97100 |
| Goldman Sachs Financial Square Government Fund, Institutional Shares 3.53% <sup>(k)(l)</sup>  | 85000000 | 85000 |
| Capital Group Central Cash Fund 3.71% <sup>(a)(k)(l)</sup>  | 488304 | 48825 |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 3.58% <sup>(k)(l)</sup>  | 48780582 | 48781 |
| Fidelity Investments Money Market Government Portfolio, Class I 3.53% <sup>(k)(l)</sup>  | 48500000 | 48500 |
| Dreyfus Treasury Obligations Cash Management, Institutional Shares 3.54% <sup>(k)(l)</sup>  | 42500000 | 42500 |
| RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 3.58% <sup>(k)(l)</sup>  | 6000000 | 6000 |
|  |  | 607306 |
| **Total short-term securities** (cost: $3,793,135,000) | **Total short-term securities** (cost: $3,793,135,000) | 3792994 |
| **Total investment securities 100.96%** (cost: $58,320,519,000) | **Total investment securities 100.96%** (cost: $58,320,519,000) | 81677252 |
| Other assets less liabilities (0.96)% |  | (776196)<br>|
| **Net assets 100.00%** |  | $80901056 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>10/1/2025 <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>3/31/2026 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 21.83%** |  |  |  |  |  |  |  |
| **Industrials 6.86%** |  |  |  |  |  |  |  |
| Diploma PLC  | $739825 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $87582 | &nbsp;&nbsp; $827407 | &nbsp;&nbsp; $6143 |
| Arcosa, Inc.  | 358666 | &nbsp;&nbsp; 9715 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 48070 | &nbsp;&nbsp; 416451 | &nbsp;&nbsp; 388 |
| Enpro, Inc.  | 316763 | &nbsp;&nbsp; — | &nbsp;&nbsp; 37582 | &nbsp;&nbsp; 11196 | &nbsp;&nbsp; 23949 | &nbsp;&nbsp; 314326 | &nbsp;&nbsp; 840 |
| VSE Corp.  | 237304 | &nbsp;&nbsp; 97337 | &nbsp;&nbsp; 74481 | &nbsp;&nbsp; 10461 | &nbsp;&nbsp; 23455 | &nbsp;&nbsp; 294076 | &nbsp;&nbsp; 326 |
| NICHIAS Corp. <sup>(c)</sup>  | 173593 | &nbsp;&nbsp; 18046 | &nbsp;&nbsp; 15619 | &nbsp;&nbsp; 3147 | &nbsp;&nbsp; 81567 | &nbsp;&nbsp; 260734 | &nbsp;&nbsp; 2576 |
| CSW Industrials, Inc.  | 289469 | &nbsp;&nbsp; 36937 | &nbsp;&nbsp; 119017 | &nbsp;&nbsp; 19545 | &nbsp;&nbsp; 19503 | &nbsp;&nbsp; 246437 | &nbsp;&nbsp; 620 |

---

---

| | |
|:---|:---|
| **15** | SMALLCAP World Fund |

---

------

**Investments in affiliates** <sup>(a)</sup> (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 10/1/2025<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> 3/31/2026<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| AZZ, Inc.  | $214031 | &nbsp;&nbsp; $4785 | &nbsp;&nbsp; $10683 | &nbsp;&nbsp; $2826 | &nbsp;&nbsp; $30537 | &nbsp;&nbsp; $241496 | &nbsp;&nbsp; $794 |
| Kadant, Inc.  | 229637 | &nbsp;&nbsp; 50238 | &nbsp;&nbsp; 44239 | &nbsp;&nbsp; 1797 | &nbsp;&nbsp; (4071)<br>| &nbsp;&nbsp; 233362 | &nbsp;&nbsp; 583 |
| Cleanaway Waste Management, Ltd.  | 260388 | &nbsp;&nbsp; 8374 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (36032)<br>| &nbsp;&nbsp; 232730 | &nbsp;&nbsp; 3507 |
| SWCC Corp. <sup>(c)</sup>  | 129558 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 67897 | &nbsp;&nbsp; 197455 | &nbsp;&nbsp; 1867 |
| Carel Industries SpA <sup>(c)</sup>  | 202614 | &nbsp;&nbsp; 2635 | &nbsp;&nbsp; 23048 | &nbsp;&nbsp; 3642 | &nbsp;&nbsp; (8764)<br>| &nbsp;&nbsp; 177079 | &nbsp;&nbsp; — |
| Robert Half, Inc.  | 146920 | &nbsp;&nbsp; 44718 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (42140)<br>| &nbsp;&nbsp; 149498 | &nbsp;&nbsp; 6945 |
| Japan Elevator Service Holdings Co., Ltd. <sup>(c)</sup>  | 178106 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (32368)<br>| &nbsp;&nbsp; 145738 | &nbsp;&nbsp; 1665 |
| Hub Group, Inc., Class A  | 102071 | &nbsp;&nbsp; 33033 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3186 | &nbsp;&nbsp; 138290 | &nbsp;&nbsp; 913 |
| Kumagai Gumi Co., Ltd. <sup>(c)</sup>  |  | &nbsp;&nbsp; 156596 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (20563)<br>| &nbsp;&nbsp; 136033 | &nbsp;&nbsp; 2161 |
| Enerpac Tool Group Corp., Class A  | 147845 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (16335)<br>| &nbsp;&nbsp; 131510 | &nbsp;&nbsp; 144 |
| First Advantage Corp. <sup>(b)</sup>  | 194748 | &nbsp;&nbsp; 21209 | &nbsp;&nbsp; 45325 | &nbsp;&nbsp; (23372)<br>| &nbsp;&nbsp; (24971)<br>| &nbsp;&nbsp; 122289 | &nbsp;&nbsp; — |
| Volution Group PLC  | 134167 | &nbsp;&nbsp; 807 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (14365)<br>| &nbsp;&nbsp; 120609 | &nbsp;&nbsp; 2370 |
| AQ Group AB  | 73593 | &nbsp;&nbsp; 37893 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2752 | &nbsp;&nbsp; 114238 | &nbsp;&nbsp; — |
| Montana Aerospace AG <sup>(b)</sup>  | 120180 | &nbsp;&nbsp; 522 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (7166)<br>| &nbsp;&nbsp; 113536 | &nbsp;&nbsp; — |
| Badger Infrastructure Solutions, Ltd.  | 33078 | &nbsp;&nbsp; 80919 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (8842)<br>| &nbsp;&nbsp; 105155 | &nbsp;&nbsp; 653 |
| PFISTERER Holding SE <sup>(b)</sup>  | 77089 | &nbsp;&nbsp; 24548 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5503)<br>| &nbsp;&nbsp; 96134 | &nbsp;&nbsp; — |
| ICF International, Inc.  | 136493 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (40463)<br>| &nbsp;&nbsp; 96030 | &nbsp;&nbsp; 412 |
| Visional, Inc. <sup>(b)(c)</sup>  | 118897 | &nbsp;&nbsp; 27086 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (51244)<br>| &nbsp;&nbsp; 94739 | &nbsp;&nbsp; — |
| Cadre Holdings, Inc.  | 118682 | &nbsp;&nbsp; 3670 | &nbsp;&nbsp; 14471 | &nbsp;&nbsp; 1828 | &nbsp;&nbsp; (17011)<br>| &nbsp;&nbsp; 92698 | &nbsp;&nbsp; 600 |
| Shaily Engineering Plastics, Ltd.  | 61762 | &nbsp;&nbsp; 21981 | &nbsp;&nbsp; 5162 | &nbsp;&nbsp; 1162 | &nbsp;&nbsp; (1772)<br>| &nbsp;&nbsp; 77971 | &nbsp;&nbsp; — |
| Takuma Co., Ltd. <sup>(c)</sup>  |  | &nbsp;&nbsp; 75351 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (638)<br>| &nbsp;&nbsp; 74713 | &nbsp;&nbsp; 1297 |
| INVISIO Communications AB <sup>(c)</sup>  | 87032 | &nbsp;&nbsp; 10455 | &nbsp;&nbsp; 8730 | &nbsp;&nbsp; (2760)<br>| &nbsp;&nbsp; (13290)<br>| &nbsp;&nbsp; 72707 | &nbsp;&nbsp; — |
| Instalco AB  | 56213 | &nbsp;&nbsp; 1499 | &nbsp;&nbsp; 724 | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 13386 | &nbsp;&nbsp; 70524 | &nbsp;&nbsp; — |
| Mader Group, Ltd.  | 69409 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3056 | &nbsp;&nbsp; 686 | &nbsp;&nbsp; (1297)<br>| &nbsp;&nbsp; 65742 | &nbsp;&nbsp; — |
| Limbach Holdings, Inc. <sup>(b)</sup>  | 62670 | &nbsp;&nbsp; 14314 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (12694)<br>| &nbsp;&nbsp; 64290 | &nbsp;&nbsp; — |
| Einride AB <sup>(b)(d)(e)</sup>  | 22720 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9664)<br>| &nbsp;&nbsp; 13056 | &nbsp;&nbsp; — |
| Einride AB (EUR denominated) <sup>(b)(d)(e)</sup>  | 18526 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (7880)<br>| &nbsp;&nbsp; 10646 | &nbsp;&nbsp; — |
| Byrna Technologies, Inc. <sup>(b)(m)</sup>  | 38576 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28801 | &nbsp;&nbsp; (5534)<br>| &nbsp;&nbsp; (4241)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| CBIZ, Inc. <sup>(b)(m)</sup>  | 184757 | &nbsp;&nbsp; — | &nbsp;&nbsp; 123558 | &nbsp;&nbsp; (107890)<br>| &nbsp;&nbsp; 46691 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Karnell Group AB <sup>(b)(n)</sup>  | 23154 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1220 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| R&S Group Holding AG <sup>(c)(n)</sup>  | 103630 | &nbsp;&nbsp; 4699 | &nbsp;&nbsp; 30807 | &nbsp;&nbsp; (5033)<br>| &nbsp;&nbsp; (32020)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Sinfonia Technology Co., Ltd. <sup>(c)(n)</sup>  | 112642 | &nbsp;&nbsp; 11532 | &nbsp;&nbsp; 38520 | &nbsp;&nbsp; 16799 | &nbsp;&nbsp; (7874)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 1032 |
|  |  |  |  |  |  | &nbsp;&nbsp; 5547699 |  |
| **Financials 2.66%** |  |  |  |  |  |  |  |
| Essent Group, Ltd.  | 510792 | &nbsp;&nbsp; — | &nbsp;&nbsp; 172995 | &nbsp;&nbsp; 39872 | &nbsp;&nbsp; (74009)<br>| &nbsp;&nbsp; 303660 | &nbsp;&nbsp; 4122 |
| 360 ONE WAM, Ltd.  | 336122 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7394 | &nbsp;&nbsp; (209)<br>| &nbsp;&nbsp; (40748)<br>| &nbsp;&nbsp; 287771 | &nbsp;&nbsp; 1990 |
| Gunma Bank, Ltd. (The) <sup>(c)</sup>  | 167322 | &nbsp;&nbsp; 64708 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 35823 | &nbsp;&nbsp; 267853 | &nbsp;&nbsp; 3784 |
| BNK Financial Group, Inc.  | 144059 | &nbsp;&nbsp; 121731 | &nbsp;&nbsp; 27049 | &nbsp;&nbsp; (5206)<br>| &nbsp;&nbsp; 10630 | &nbsp;&nbsp; 244165 | &nbsp;&nbsp; 6416 |
| JB Financial Group Co., Ltd.  | 200860 | &nbsp;&nbsp; 100894 | &nbsp;&nbsp; 86404 | &nbsp;&nbsp; 26384 | &nbsp;&nbsp; (15759)<br>| &nbsp;&nbsp; 225975 | &nbsp;&nbsp; 6268 |
| Plus500, Ltd.  | 154068 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 37999 | &nbsp;&nbsp; 192067 | &nbsp;&nbsp; 4432 |
| Manappuram Finance, Ltd.  | 172895 | &nbsp;&nbsp; 5104 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (27072)<br>| &nbsp;&nbsp; 150927 | &nbsp;&nbsp; 611 |
| IIFL Finance, Ltd.  | 148041 | &nbsp;&nbsp; — | &nbsp;&nbsp; 18585 | &nbsp;&nbsp; (2506)<br>| &nbsp;&nbsp; (8946)<br>| &nbsp;&nbsp; 118004 | &nbsp;&nbsp; 1257 |
| AUB Group, Ltd.  | 139044 | &nbsp;&nbsp; 20476 | &nbsp;&nbsp; 20180 | &nbsp;&nbsp; 4823 | &nbsp;&nbsp; (31562)<br>| &nbsp;&nbsp; 112601 | &nbsp;&nbsp; 1233 |
| Goosehead Insurance, Inc., Class A <sup>(b)</sup>  | 125621 | &nbsp;&nbsp; 13593 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (55077)<br>| &nbsp;&nbsp; 84137 | &nbsp;&nbsp; — |
| Home First Finance Company India, Ltd.  | 110077 | &nbsp;&nbsp; 3966 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (32198)<br>| &nbsp;&nbsp; 81845 | &nbsp;&nbsp; — |
| Norion Bank AB <sup>(b)</sup>  | 70750 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (12291)<br>| &nbsp;&nbsp; 58459 | &nbsp;&nbsp; — |
| Qualitas, Ltd.  |  | &nbsp;&nbsp; 34396 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9428)<br>| &nbsp;&nbsp; 24968 | &nbsp;&nbsp; 375 |
| Aptus Value Housing Finance India, Ltd. <sup>(n)</sup>  | 98868 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24529 | &nbsp;&nbsp; (21176)<br>| &nbsp;&nbsp; (17461)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 620 |
| Baldwin Insurance Group, Inc. (The), Class A <sup>(b)(n)</sup>  | 239282 | &nbsp;&nbsp; — | &nbsp;&nbsp; 108850 | &nbsp;&nbsp; (137196)<br>| &nbsp;&nbsp; 73013 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Glacier Bancorp, Inc. <sup>(n)</sup>  | 351419 | &nbsp;&nbsp; 14375 | &nbsp;&nbsp; 93437 | &nbsp;&nbsp; (7910)<br>| &nbsp;&nbsp; (23022)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 4609 |

---

---

| | |
|:---|:---|
| SMALLCAP World Fund | **16** |

---

------

**Investments in affiliates** <sup>(a)</sup> (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 10/1/2025<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> 3/31/2026<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| JTC PLC <sup>(m)</sup>  | $171679 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $165342 | &nbsp;&nbsp; $46913 | &nbsp;&nbsp; $(53250)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| Premium Group Co., Ltd. <sup>(m)</sup>  | 40811 | &nbsp;&nbsp; — | &nbsp;&nbsp; 32681 | &nbsp;&nbsp; (2670)<br>| &nbsp;&nbsp; (5460)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SiriusPoint, Ltd. <sup>(b)(n)</sup>  | 108540 | &nbsp;&nbsp; 14865 | &nbsp;&nbsp; 20973 | &nbsp;&nbsp; 1188 | &nbsp;&nbsp; 18731 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Skyward Specialty Insurance Group, Inc. <sup>(b)(n)</sup>  | 153639 | &nbsp;&nbsp; — | &nbsp;&nbsp; 109806 | &nbsp;&nbsp; 12146 | &nbsp;&nbsp; (19664)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| SLM Corp. <sup>(n)</sup>  | 254929 | &nbsp;&nbsp; 30215 | &nbsp;&nbsp; 118709 | &nbsp;&nbsp; (49043)<br>| &nbsp;&nbsp; (15240)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 1959 |
| Victory Capital Holdings, Inc., Class A <sup>(n)</sup>  | 215530 | &nbsp;&nbsp; — | &nbsp;&nbsp; 91761 | &nbsp;&nbsp; 27490 | &nbsp;&nbsp; (20541)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 2673 |
|  |  |  |  |  |  | &nbsp;&nbsp; 2152432 |  |
| **Information technology 3.98%** |  |  |  |  |  |  |  |
| Kokusai Electric Corp.  | 515886 | &nbsp;&nbsp; 67105 | &nbsp;&nbsp; 41732 | &nbsp;&nbsp; 26390 | &nbsp;&nbsp; 63561 | &nbsp;&nbsp; 631210 | &nbsp;&nbsp; 2141 |
| Viavi Solutions, Inc. <sup>(b)</sup>  | 189785 | &nbsp;&nbsp; 10807 | &nbsp;&nbsp; 112250 | &nbsp;&nbsp; 69298 | &nbsp;&nbsp; 227420 | &nbsp;&nbsp; 385060 | &nbsp;&nbsp; — |
| eMemory Technology, Inc.  | 352831 | &nbsp;&nbsp; — | &nbsp;&nbsp; 67482 | &nbsp;&nbsp; 9054 | &nbsp;&nbsp; 60008 | &nbsp;&nbsp; 354411 | &nbsp;&nbsp; — |
| Maruwa Co., Ltd.  | 248198 | &nbsp;&nbsp; 15033 | &nbsp;&nbsp; 43909 | &nbsp;&nbsp; 11889 | &nbsp;&nbsp; 75477 | &nbsp;&nbsp; 306688 | &nbsp;&nbsp; 279 |
| ASMPT, Ltd.  | 187708 | &nbsp;&nbsp; 57958 | &nbsp;&nbsp; 6358 | &nbsp;&nbsp; (277)<br>| &nbsp;&nbsp; 45074 | &nbsp;&nbsp; 284105 | &nbsp;&nbsp; — |
| GPGI, Inc., Class A <sup>(e)</sup>  |  | &nbsp;&nbsp; 181596 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (13742)<br>| &nbsp;&nbsp; 167854 | &nbsp;&nbsp; 25 |
| GPGI, Inc., Class A  | 37195 | &nbsp;&nbsp; 54282 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (10908)<br>| &nbsp;&nbsp; 80569 | &nbsp;&nbsp; 8 |
| Impinj, Inc. <sup>(b)</sup>  | 419086 | &nbsp;&nbsp; 4115 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (180819)<br>| &nbsp;&nbsp; 242382 | &nbsp;&nbsp; — |
| Dexerials Corp. <sup>(c)</sup>  | 238364 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (25001)<br>| &nbsp;&nbsp; 213363 | &nbsp;&nbsp; 2804 |
| Kitron ASA  | 92935 | &nbsp;&nbsp; 7780 | &nbsp;&nbsp; 16469 | &nbsp;&nbsp; 6910 | &nbsp;&nbsp; 61532 | &nbsp;&nbsp; 152688 | &nbsp;&nbsp; — |
| Rogers Corp. <sup>(b)</sup>  | 88187 | &nbsp;&nbsp; 22727 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 36276 | &nbsp;&nbsp; 147190 | &nbsp;&nbsp; — |
| Soitec <sup>(b)</sup>  |  | &nbsp;&nbsp; 96364 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 47066 | &nbsp;&nbsp; 143430 | &nbsp;&nbsp; — |
| Riken Keiki Co., Ltd.  | 65848 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (6887)<br>| &nbsp;&nbsp; 58961 | &nbsp;&nbsp; 486 |
| Megaport, Ltd. <sup>(b)</sup>  | 133662 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30777 | &nbsp;&nbsp; 4511 | &nbsp;&nbsp; (59033)<br>| &nbsp;&nbsp; 48363 | &nbsp;&nbsp; — |
| Kandou Holding SA <sup>(b)(d)</sup>  |  | &nbsp;&nbsp; 30800 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (29810)<br>| &nbsp;&nbsp; 990 | &nbsp;&nbsp; — |
| Alkami Technology, Inc. <sup>(b)(m)</sup>  | 135727 | &nbsp;&nbsp; — | &nbsp;&nbsp; 109063 | &nbsp;&nbsp; 11721 | &nbsp;&nbsp; (38385)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Allegro MicroSystems, Inc. <sup>(b)(n)</sup>  | 279956 | &nbsp;&nbsp; — | &nbsp;&nbsp; 111623 | &nbsp;&nbsp; 16927 | &nbsp;&nbsp; (7096)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Appier Group, Inc. <sup>(m)</sup>  | 85768 | &nbsp;&nbsp; — | &nbsp;&nbsp; 43576 | &nbsp;&nbsp; (38340)<br>| &nbsp;&nbsp; (3852)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 98 |
| Insight Enterprises, Inc. <sup>(b)(m)</sup>  | 183605 | &nbsp;&nbsp; — | &nbsp;&nbsp; 153652 | &nbsp;&nbsp; (75936)<br>| &nbsp;&nbsp; 45983 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Lumentum Holdings, Inc. <sup>(b)(n)</sup>  | 656619 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1121996 | &nbsp;&nbsp; 939681 | &nbsp;&nbsp; 558060 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Ncino, Inc. <sup>(b)(m)</sup>  | 212216 | &nbsp;&nbsp; — | &nbsp;&nbsp; 149853 | &nbsp;&nbsp; (113244)<br>| &nbsp;&nbsp; 50881 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Netskope, Inc., Class A <sup>(b)(c)(n)</sup>  | 89870 | &nbsp;&nbsp; 3197 | &nbsp;&nbsp; 26381 | &nbsp;&nbsp; (13759)<br>| &nbsp;&nbsp; (35867)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Noventiq Holdings PLC (GDR) <sup>(b)(d)(n)</sup>  | 6 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Noventiq Holdings PLC (GDR) <sup>(b)(d)(g)(n)</sup>  | 6125 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (1163)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| PAR Technology Corp. <sup>(b)(c)(n)</sup>  | 108415 | &nbsp;&nbsp; — | &nbsp;&nbsp; 46530 | &nbsp;&nbsp; (27944)<br>| &nbsp;&nbsp; (18870)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Semtech Corp. <sup>(b)(n)</sup>  | 307260 | &nbsp;&nbsp; 36601 | &nbsp;&nbsp; 38591 | &nbsp;&nbsp; 5716 | &nbsp;&nbsp; 22536 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 3217264 |  |
| **Consumer discretionary 2.71%** |  |  |  |  |  |  |  |
| TopBuild Corp. <sup>(b)</sup>  | 808175 | &nbsp;&nbsp; — | &nbsp;&nbsp; 18746 | &nbsp;&nbsp; 13442 | &nbsp;&nbsp; (91640)<br>| &nbsp;&nbsp; 711231 | &nbsp;&nbsp; — |
| Cavco Industries, Inc. <sup>(b)</sup>  | 383303 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (63654)<br>| &nbsp;&nbsp; 319649 | &nbsp;&nbsp; — |
| Patrick Industries, Inc.  | 219874 | &nbsp;&nbsp; 47502 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13118 | &nbsp;&nbsp; 280494 | &nbsp;&nbsp; 2203 |
| Metaplanet, Inc. <sup>(b)(c)</sup>  | 238060 | &nbsp;&nbsp; 59816 | &nbsp;&nbsp; 31850 | &nbsp;&nbsp; (64749)<br>| &nbsp;&nbsp; (70350)<br>| &nbsp;&nbsp; 130927 | &nbsp;&nbsp; — |
| B&M European Value Retail PLC <sup>(c)</sup>  | 126547 | &nbsp;&nbsp; 49587 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (48660)<br>| &nbsp;&nbsp; 127474 | &nbsp;&nbsp; 2057 |
| Cairn Homes PLC (GBP denominated)  | 61985 | &nbsp;&nbsp; 17167 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3963 | &nbsp;&nbsp; 83115 | &nbsp;&nbsp; — |
| Cairn Homes PLC (EUR denominated)  | 32795 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4617 | &nbsp;&nbsp; 2886 | &nbsp;&nbsp; 94 | &nbsp;&nbsp; 31158 | &nbsp;&nbsp; — |
| Century Communities, Inc.  | 95815 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9056)<br>| &nbsp;&nbsp; 86759 | &nbsp;&nbsp; 922 |
| Dominos Pizza Enterprises, Ltd.  |  | &nbsp;&nbsp; 104108 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (18415)<br>| &nbsp;&nbsp; 85693 | &nbsp;&nbsp; 1341 |
| tonies SE, Class A <sup>(b)(c)</sup>  | 44484 | &nbsp;&nbsp; 30420 | &nbsp;&nbsp; 8124 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 13902 | &nbsp;&nbsp; 80687 | &nbsp;&nbsp; — |
| Watches of Switzerland Group PLC <sup>(b)</sup>  | 59443 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2188 | &nbsp;&nbsp; (1160)<br>| &nbsp;&nbsp; 13525 | &nbsp;&nbsp; 69620 | &nbsp;&nbsp; — |
| DPC Dash, Ltd. <sup>(b)</sup>  | 106060 | &nbsp;&nbsp; — | &nbsp;&nbsp; 17766 | &nbsp;&nbsp; 3846 | &nbsp;&nbsp; (44704)<br>| &nbsp;&nbsp; 47436 | &nbsp;&nbsp; — |
| Aditya Vision, Ltd.  | 62786 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4466 | &nbsp;&nbsp; 1027 | &nbsp;&nbsp; (13634)<br>| &nbsp;&nbsp; 45713 | &nbsp;&nbsp; — |
| Genda, Inc. <sup>(c)</sup>  | 80594 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15202 | &nbsp;&nbsp; (11998)<br>| &nbsp;&nbsp; (16943)<br>| &nbsp;&nbsp; 36451 | &nbsp;&nbsp; — |

---

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| | |
|:---|:---|
| **17** | SMALLCAP World Fund |

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------

**Investments in affiliates** <sup>(a)</sup> (continued)

------

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 10/1/2025<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> 3/31/2026<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| Beazer Homes USA, Inc. <sup>(b)</sup>  | $40748 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(8813)<br>| &nbsp;&nbsp; $31935 | &nbsp;&nbsp; $— |
| Maruchiyo Yamaokaya Corp.  |  | &nbsp;&nbsp; 26968 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 283 | &nbsp;&nbsp; 27251 | &nbsp;&nbsp; 51 |
| BNN Technology PLC <sup>(b)(d)</sup>  | — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — |
| CAVA Group, Inc. <sup>(b)(c)(n)</sup>  | 329278 | &nbsp;&nbsp; 90592 | &nbsp;&nbsp; 93435 | &nbsp;&nbsp; 44608 | &nbsp;&nbsp; 98836 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Domino's Pizza Group PLC <sup>(c)(n)</sup>  | 70410 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30270 | &nbsp;&nbsp; (23025)<br>| &nbsp;&nbsp; 12050 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Tsuburaya Fields Holdings, Inc. <sup>(m)</sup>  | 59582 | &nbsp;&nbsp; — | &nbsp;&nbsp; 40590 | &nbsp;&nbsp; (2733)<br>| &nbsp;&nbsp; (16259)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 2195593 |  |
| **Health care 1.48%** |  |  |  |  |  |  |  |
| NewAmsterdam Pharma Co. NV <sup>(b)(c)</sup>  | 244472 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6219 | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 29506 | &nbsp;&nbsp; 268759 | &nbsp;&nbsp; — |
| IDEAYA Biosciences, Inc. <sup>(b)</sup>  | 159712 | &nbsp;&nbsp; — | &nbsp;&nbsp; 40414 | &nbsp;&nbsp; 11511 | &nbsp;&nbsp; 25276 | &nbsp;&nbsp; 156085 | &nbsp;&nbsp; — |
| Asker Healthcare Group AB  | 110713 | &nbsp;&nbsp; 62798 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (24105)<br>| &nbsp;&nbsp; 149406 | &nbsp;&nbsp; — |
| Addus HomeCare Corp. <sup>(b)</sup>  | 128525 | &nbsp;&nbsp; 36253 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (33546)<br>| &nbsp;&nbsp; 131232 | &nbsp;&nbsp; — |
| Rapport Therapeutics, Inc. <sup>(b)</sup>  | 101055 | &nbsp;&nbsp; 6715 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5956 | &nbsp;&nbsp; 113726 | &nbsp;&nbsp; — |
| Cosmo Pharmaceuticals NV  |  | &nbsp;&nbsp; 141888 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (38936)<br>| &nbsp;&nbsp; 102952 | &nbsp;&nbsp; — |
| Vitrolife AB  | 35516 | &nbsp;&nbsp; 74768 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (30650)<br>| &nbsp;&nbsp; 79634 | &nbsp;&nbsp; — |
| BONESUPPORT Holding AB <sup>(b)(c)</sup>  | 155211 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30937 | &nbsp;&nbsp; 11643 | &nbsp;&nbsp; (62038)<br>| &nbsp;&nbsp; 73879 | &nbsp;&nbsp; — |
| Gubra AS  | 76841 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10606 | &nbsp;&nbsp; 2433 | &nbsp;&nbsp; (7700)<br>| &nbsp;&nbsp; 60968 | &nbsp;&nbsp; — |
| KalVista Pharmaceuticals, Inc. <sup>(b)</sup>  | 38703 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4115 | &nbsp;&nbsp; (161)<br>| &nbsp;&nbsp; 22110 | &nbsp;&nbsp; 56537 | &nbsp;&nbsp; — |
| Nykode Therapeutics ASA  | 2704 | &nbsp;&nbsp; 215 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2866 | &nbsp;&nbsp; 5785 | &nbsp;&nbsp; — |
| DiaSorin SpA <sup>(m)</sup>  | 142395 | &nbsp;&nbsp; — | &nbsp;&nbsp; 114651 | &nbsp;&nbsp; (55228)<br>| &nbsp;&nbsp; 27484 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Entero Healthcare Solutions, Ltd. <sup>(b)(m)</sup>  | 29595 | &nbsp;&nbsp; — | &nbsp;&nbsp; 25027 | &nbsp;&nbsp; (9378)<br>| &nbsp;&nbsp; 4810 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Phreesia, Inc. <sup>(b)(m)</sup>  | 73732 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38203 | &nbsp;&nbsp; (50802)<br>| &nbsp;&nbsp; 15273 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Vicore Pharma Holding AB <sup>(b)(n)</sup>  | 16663 | &nbsp;&nbsp; 1996 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (4084)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Xenon Pharmaceuticals, Inc. <sup>(b)(n)</sup>  | 153581 | &nbsp;&nbsp; 21920 | &nbsp;&nbsp; 34133 | &nbsp;&nbsp; 5548 | &nbsp;&nbsp; 56713 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 1198963 |  |
| **Materials 2.18%** |  |  |  |  |  |  |  |
| Celanese Corp.  | 210864 | &nbsp;&nbsp; 91363 | &nbsp;&nbsp; 1031 | &nbsp;&nbsp; (602)<br>| &nbsp;&nbsp; 147391 | &nbsp;&nbsp; 447985 | &nbsp;&nbsp; 343 |
| Knife River Corp. <sup>(b)</sup>  | 125208 | &nbsp;&nbsp; 226255 | &nbsp;&nbsp; 28336 | &nbsp;&nbsp; (2313)<br>| &nbsp;&nbsp; 17367 | &nbsp;&nbsp; 338181 | &nbsp;&nbsp; — |
| APL Apollo Tubes, Ltd.  | 284864 | &nbsp;&nbsp; — | &nbsp;&nbsp; 20859 | &nbsp;&nbsp; 5110 | &nbsp;&nbsp; 24529 | &nbsp;&nbsp; 293644 | &nbsp;&nbsp; — |
| Sumitomo Bakelite Co., Ltd.  | 195744 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24495 | &nbsp;&nbsp; (360)<br>| &nbsp;&nbsp; (12585)<br>| &nbsp;&nbsp; 158304 | &nbsp;&nbsp; 1910 |
| Materion Corp.  | 200060 | &nbsp;&nbsp; — | &nbsp;&nbsp; 90273 | &nbsp;&nbsp; 27236 | &nbsp;&nbsp; 15003 | &nbsp;&nbsp; 152026 | &nbsp;&nbsp; 431 |
| SigmaRoc PLC <sup>(b)</sup>  | 144659 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5288)<br>| &nbsp;&nbsp; 139371 | &nbsp;&nbsp; — |
| Ramkrishna Forgings, Ltd.  | 82986 | &nbsp;&nbsp; 5020 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (14618)<br>| &nbsp;&nbsp; 73388 | &nbsp;&nbsp; — |
| Chugoku Marine Paints, Ltd. <sup>(c)</sup>  | 50500 | &nbsp;&nbsp; 17224 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (8039)<br>| &nbsp;&nbsp; 59685 | &nbsp;&nbsp; 1101 |
| Talon Metals Corp. <sup>(b)(c)</sup>  |  | &nbsp;&nbsp; 60183 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (10244)<br>| &nbsp;&nbsp; 49939 | &nbsp;&nbsp; — |
| Asahi Yukizai Corp. <sup>(c)</sup>  | 43781 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3336 | &nbsp;&nbsp; 78 | &nbsp;&nbsp; 6237 | &nbsp;&nbsp; 46760 | &nbsp;&nbsp; 515 |
| Sandstorm Gold, Ltd. <sup>(m)</sup>  | 297928 | &nbsp;&nbsp; — | &nbsp;&nbsp; 292246 | &nbsp;&nbsp; 161305 | &nbsp;&nbsp; (166987)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| TriMas Corp. <sup>(m)</sup>  | 111673 | &nbsp;&nbsp; 3646 | &nbsp;&nbsp; 94232 | &nbsp;&nbsp; (20226)<br>| &nbsp;&nbsp; (861)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 118 |
|  |  |  |  |  |  | &nbsp;&nbsp; 1759283 |  |
| **Energy 0.47%** |  |  |  |  |  |  |  |
| Secure Waste Infrastructure Corp. <sup>(c)</sup>  | 100882 | &nbsp;&nbsp; 102265 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 15847 | &nbsp;&nbsp; 218994 | &nbsp;&nbsp; 1202 |
| Sable Offshore Corp. <sup>(b)(c)(e)</sup>  |  | &nbsp;&nbsp; 81000 | &nbsp;&nbsp; 48550 | &nbsp;&nbsp; 3050 | &nbsp;&nbsp; 71129 | &nbsp;&nbsp; 106629 | &nbsp;&nbsp; — |
| Sable Offshore Corp. <sup>(b)</sup>  | 31499 | &nbsp;&nbsp; 34507 | &nbsp;&nbsp; 10295 | &nbsp;&nbsp; (16626)<br>| &nbsp;&nbsp; 18378 | &nbsp;&nbsp; 57463 | &nbsp;&nbsp; — |
| Savannah Energy PLC <sup>(b)(m)</sup>  | 11529 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11087 | &nbsp;&nbsp; (24987)<br>| &nbsp;&nbsp; 24545 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Weatherford International <sup>(n)</sup>  | 299187 | &nbsp;&nbsp; 7080 | &nbsp;&nbsp; 105110 | &nbsp;&nbsp; 12246 | &nbsp;&nbsp; 88807 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2029 |
|  |  |  |  |  |  | &nbsp;&nbsp; 383086 |  |

---

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| | |
|:---|:---|
| SMALLCAP World Fund | **18** |

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------

**Investments in affiliates** <sup>(a)</sup> (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 10/1/2025<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> 3/31/2026<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| **Consumer staples 0.65%** |  |  |  |  |  |  |  |
| Freshpet, Inc. <sup>(b)</sup>  | $81716 | &nbsp;&nbsp; $101383 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(7051)<br>| &nbsp;&nbsp; $176048 | &nbsp;&nbsp; $— |
| Universal Robina Corp.  | 125633 | &nbsp;&nbsp; 56825 | &nbsp;&nbsp; 33011 | &nbsp;&nbsp; (18069)<br>| &nbsp;&nbsp; 82 | &nbsp;&nbsp; 131460 | &nbsp;&nbsp; — |
| Kotobuki Spirits Co., Ltd. <sup>(c)</sup>  | 137538 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4926 | &nbsp;&nbsp; (599)<br>| &nbsp;&nbsp; (6732)<br>| &nbsp;&nbsp; 125281 | &nbsp;&nbsp; 2363 |
| Fever-Tree Drinks PLC  | 110379 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (15265)<br>| &nbsp;&nbsp; 95114 | &nbsp;&nbsp; — |
| Humble Group AB <sup>(b)(m)</sup>  | 27086 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26262 | &nbsp;&nbsp; (8064)<br>| &nbsp;&nbsp; 7240 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 527903 |  |
| **Real estate 0.30%** |  |  |  |  |  |  |  |
| Altus Group, Ltd.  | 119295 | &nbsp;&nbsp; 45053 | &nbsp;&nbsp; 31421 | &nbsp;&nbsp; (583)<br>| &nbsp;&nbsp; (25429)<br>| &nbsp;&nbsp; 106915 | &nbsp;&nbsp; 712 |
| Kasumigaseki Capital Co., Ltd. <sup>(c)</sup>  |  | &nbsp;&nbsp; 96241 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (17585)<br>| &nbsp;&nbsp; 78656 | &nbsp;&nbsp; — |
| Prisma Properties AB <sup>(b)</sup>  | 24417 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 235 | &nbsp;&nbsp; 24652 | &nbsp;&nbsp; — |
| K-Fast Holding AB, Class B <sup>(b)</sup>  | 27736 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (8366)<br>| &nbsp;&nbsp; 19370 | &nbsp;&nbsp; — |
| Genova Property Group AB  | 8720 | &nbsp;&nbsp; 2153 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 10930 | &nbsp;&nbsp; 113 |
|  |  |  |  |  |  | &nbsp;&nbsp; 240523 |  |
| **Communication services 0.54%** |  |  |  |  |  |  |  |
| Nippon Television Holdings, Inc.  | 538573 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26929 | &nbsp;&nbsp; (3471)<br>| &nbsp;&nbsp; (129013)<br>| &nbsp;&nbsp; 379160 | &nbsp;&nbsp; 3545 |
| Trustpilot Group PLC <sup>(b)</sup>  | 92738 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19716 | &nbsp;&nbsp; (10686)<br>| &nbsp;&nbsp; (6544)<br>| &nbsp;&nbsp; 55792 | &nbsp;&nbsp; — |
| Baltic Classifieds Group PLC <sup>(n)</sup>  | 107598 | &nbsp;&nbsp; — | &nbsp;&nbsp; 47868 | &nbsp;&nbsp; (6091)<br>| &nbsp;&nbsp; (34720)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 119 |
| Hemnet Group AB <sup>(c)(n)</sup>  | 126097 | &nbsp;&nbsp; — | &nbsp;&nbsp; 63429 | &nbsp;&nbsp; (9709)<br>| &nbsp;&nbsp; (33345)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Magnite, Inc. <sup>(b)(n)</sup>  | 134721 | &nbsp;&nbsp; 78450 | &nbsp;&nbsp; 81427 | &nbsp;&nbsp; (17352)<br>| &nbsp;&nbsp; (56235)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Starz Entertainment Corp. <sup>(b)(m)</sup>  | 19690 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15034 | &nbsp;&nbsp; (6047)<br>| &nbsp;&nbsp; 1391 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 434952 |  |
| **Utilities 0.00%** |  |  |  |  |  |  |  |
| Mytrah Energy, Ltd. <sup>(b)(d)</sup>  | — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — |
| **Total common stocks** |  |  |  |  |  | &nbsp;&nbsp; 17657698 |  |
| **Preferred securities 0.25%** |  |  |  |  |  |  |  |
| **Information technology 0.11%** |  |  |  |  |  |  |  |
| Skyryse, Inc., Series B, preferred shares <sup>(b)(d)(e)</sup>  | 44566 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5136)<br>| &nbsp;&nbsp; 39430 | &nbsp;&nbsp; — |
| Skyryse, Inc., Series C, preferred shares <sup>(b)(d)(e)</sup>  | 15314 | &nbsp;&nbsp; 9687 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (2095)<br>| &nbsp;&nbsp; 22906 | &nbsp;&nbsp; — |
| Kandou Holding SA, Series A, preferred shares <sup>(b)(d)(e)</sup>  |  | &nbsp;&nbsp; 21889 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1373 | &nbsp;&nbsp; 23262 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 85598 |  |
| **Industrials 0.04%** |  |  |  |  |  |  |  |
| Einride AB, Series B, preferred shares <sup>(b)(d)(e)</sup>  | 56413 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (23996)<br>| &nbsp;&nbsp; 32417 | &nbsp;&nbsp; — |
| Einride AB, Series A, preferred shares <sup>(b)(d)(e)</sup>  | 507 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (215)<br>| &nbsp;&nbsp; 292 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 32709 |  |
| **Financials 0.05%** |  |  |  |  |  |  |  |
| PPRO Holding GmbH, Series B-1, 8.00% preferred <br>shares <sup>(b)(d)(e)</sup> <br>| 55093 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (15571)<br>| &nbsp;&nbsp; 39522 | &nbsp;&nbsp; — |
| **Health care 0.05%** |  |  |  |  |  |  |  |
| Hemab Therapeutics Holdings, Inc., Series C, preferred <br>shares <sup>(b)(d)(e)</sup> <br>|  | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 29998 | &nbsp;&nbsp; — |
| ClearNote Health, Inc., Series C, 5.00% noncumulative <br> preferred shares <sup>(b)(d)(e)</sup> <br>| 12408 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 392 | &nbsp;&nbsp; 12800 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 42798 |  |
| **Total preferred securities** |  |  |  |  |  | &nbsp;&nbsp; 200627 |  |
| **Rights & warrants 0.00%** |  |  |  |  |  |  |  |
| **Information technology 0.00%** |  |  |  |  |  |  |  |
| Kandou Holding SA, warrants, expire 8/18/2028 <sup>(b)(d)(e)</sup>  | — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>(h)</sup><br>| &nbsp;&nbsp; — |

---

---

| | |
|:---|:---|
| **19** | SMALLCAP World Fund |

---

------

**Investments in affiliates** <sup>(a)</sup> (continued)

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at<br> 10/1/2025<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> 3/31/2026<br> (000)<br>| Dividend<br> or interest<br> income<br> (000)<br>|
| **Convertible stocks 0.04%** |  |  |  |  |  |  |  |
| **Information technology 0.00%** |  |  |  |  |  |  |  |
| RealSelf, Inc., Series C, convertible preferred shares <sup>(d)(e)</sup>  | $2498 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(313)<br>| &nbsp;&nbsp; $2185 | &nbsp;&nbsp; $— |
| **Consumer discretionary 0.04%** |  |  |  |  |  |  |  |
| Metaplanet, Inc., Class B, 5.00% perpetual cumulative <br> preferred shares <sup>(d)(e)</sup> <br>|  | &nbsp;&nbsp; 33836 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (364)<br>| &nbsp;&nbsp; 33472 | &nbsp;&nbsp; 468 |
| **Materials 0.00%** |  |  |  |  |  |  |  |
| Albemarle Corp., Class A, cumulative convertible preferred <br> depositary shares, 7.25% 3/1/2027 <sup>(m)</sup> <br>| 122017 | &nbsp;&nbsp; — | &nbsp;&nbsp; 166563 | &nbsp;&nbsp; 68206 | &nbsp;&nbsp; (23660)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 2919 |
| **Total convertible stocks** |  |  |  |  |  | &nbsp;&nbsp; 35657 |  |
| **Convertible bonds & notes 0.00%** |  |  |  |  |  |  |  |
| **Health care 0.00%** |  |  |  |  |  |  |  |
| ClearNote Health, Inc., convertible notes, 8.00% <br>5/2/2026 <sup>(d)(e)</sup> <br>| 2000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 112 | &nbsp;&nbsp; 2112 | &nbsp;&nbsp; 80 |
| **Short-term securities 4.00%** |  |  |  |  |  |  |  |
| **Money market investments 3.94%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.71% <sup>(k)</sup>  | 3106660 | &nbsp;&nbsp; 5185864 | &nbsp;&nbsp; 5106798 | &nbsp;&nbsp; 356 | &nbsp;&nbsp; (394)<br>| &nbsp;&nbsp; 3185688 | &nbsp;&nbsp; 58418 |
| **Money market investments purchased with collateral** <br>**from securities on loan 0.06%**<br>|  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.71% <sup>(k)(l)</sup>  | 54820 |  | &nbsp;&nbsp; 5995 <br><sup>(o)</sup><br>|  |  | &nbsp;&nbsp; 48825 | &nbsp;&nbsp; — <br><sup>(p)</sup><br>|
| **Total short-term securities** |  |  |  |  |  | &nbsp;&nbsp; 3234513 |  |
| **Total 26.12%** |  |  |  | &nbsp;&nbsp; $704664 | &nbsp;&nbsp; $157535 | &nbsp;&nbsp; $21130607 | &nbsp;&nbsp; $164986 |

---

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Zipline International, Inc., Series H, preferred shares <sup>(b)(d)</sup> <br>| 12/3/2025 | $120100 | $120091 | 0.15<br> %<br>|
| Zipline International, Inc., Series G, preferred shares <sup>(b)(d)</sup> <br>| 6/7/2024 | 50000 | 67062 | 0.08 |
| GPGI, Inc., Class A <sup>(a)</sup> <br>| 1/30/2026 | 181596 | 167854 | 0.21 |
| Sable Offshore Corp. <sup>(a)(b)(c)</sup> <br>| 1/23/2026 | 35500 | 106629 | 0.13 |
| PsiQuantum Corp., Series D, preferred shares <sup>(b)(d)</sup> <br>| 5/28/2021 | 35000 | 53088 | 0.07 |
| PsiQuantum Corp., Series E, preferred shares <sup>(b)(d)</sup> <br>| 8/29/2025 | 50000 | 49993 | 0.06 |
| Skyryse, Inc., Series B, preferred shares <sup>(a)(b)(d)</sup> <br>| 10/21/2021 | 40700 | 39430 | 0.05 |
| Skyryse, Inc., Series C, preferred shares <sup>(a)(b)(d)</sup> <br>| 9/16/2025-11/21/2025 | 25000 | 22906 | 0.03 |
| Einride AB, Series B, preferred shares <sup>(a)(b)(d)</sup> <br>| 3/23/2021-5/6/2021 | 18753 | 32417 | 0.04 |
| Einride AB <sup>(a)(b)(d)</sup> <br>| 7/14/2025 | 18275 | 13056 | 0.02 |
| Einride AB (EUR denominated) <sup>(a)(b)(d)</sup> <br>| 7/16/2021-2/1/2023 | 10542 | 10646 | 0.01 |
| Einride AB, Series A, preferred shares <sup>(a)(b)(d)</sup> <br>| 10/11/2021 | 312 | 292 | 0.00 <br><sup>(q)</sup><br>|
| SiFive, Inc., Series F, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2022 | 25000 | 30112 | 0.04 |
| SiFive, Inc., Series G, preferred shares <sup>(b)(d)</sup> <br>| 3/2/2026 | 22000 | 22000 | 0.02 |
| Tekion Corp., Series B, preferred shares <sup>(b)(d)</sup> <br>| 8/20/2025 | 56846 | 47812 | 0.06 |
| Tekion Corp., Series A, preferred shares <sup>(b)(d)</sup> <br>| 8/20/2025 | 3154 | 2653 | 0.00 <br><sup>(q)</sup><br>|
| QuintoAndar, Ltd., Series E-1, preference shares <sup>(b)(d)</sup> <br>| 12/20/2021 | 50000 | 40875 | 0.05 |
| Fluidstack, Ltd., Series A, convertible preferred shares <sup>(d)</sup> <br>| 2/27/2026 | 40000 | 40000 | 0.05 |
| PPRO Holding GmbH, Series B-1, 8.00% preferred <br>shares <sup>(a)(b)(d)</sup> <br>| 1/28/2021 | 48695 | 39522 | 0.05 |
| Metaplanet, Inc., Class B, 5.00% perpetual cumulative preferred <br> shares <sup>(a)(d)</sup> <br>| 12/23/2025 | 33836 | 33472 | 0.04 |
| PayClip, Inc., convertible notes, 4.50% Cash 12/15/2028 <sup>(d)(i)</sup> <br>| 5/29/2024-12/15/2025 | 27225 | 33414 | 0.04 |

---

---

| | |
|:---|:---|
| SMALLCAP World Fund | **20** |

---

------

**Restricted securities** <sup>(e)</sup> (continued)

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition<br> date(s)<br>| Cost<br> (000)<br>| Value<br> (000)<br>| Percent<br> of net<br> assets<br>|
| Sail Biomedicines, Inc., Series B, 6.00% preferred shares <sup>(b)(d)</sup> <br>| 8/10/2021 | $50000 | $31786 | 0.04<br> %<br>|
| TAE Technologies, Inc., Series 11, 4.00% perpetual cumulative <br> convertible preferred shares <br>| 8/27/2024 | 26493 | 24806 | 0.03 |
| TAE Technologies, Inc., Series 12, 4.00% perpetual convertible <br> preferred shares <br>| 8/21/2024 | 6412 | 5685 | 0.01 |
| Hemab Therapeutics Holdings, Inc., Series C, preferred <br>shares <sup>(a)(b)(d)</sup> <br>| 3/30/2026 | 30000 | 29998 | 0.04 |
| Pine Labs, Ltd. <sup>(b)(f)</sup> <br>| 11/14/2025 | 50000 | 27469 | 0.03 |
| Kandou Holding SA, Series A, preferred shares <sup>(a)(b)(d)</sup> <br>| 1/12/2026-2/18/2026 | 21890 | 23262 | 0.03 |
| Kandou Holding SA, warrants, expire 8/18/2028 <sup>(a)(b)(d)</sup> <br>| 8/18/2023 | — <br><sup>(h)</sup><br>| — <br><sup>(h)</sup><br>| 0.00 <br><sup>(q)</sup><br>|
| Wayve Technologies, Ltd., Series D, preferred shares <sup>(b)(d)</sup> <br>| 2/11/2026 | 22000 | 22000 | 0.03 |
| ANDPAD, Inc., Series D, preferred shares <sup>(b)(d)</sup> <br>| 6/30/2022 | 19506 | 21243 | 0.03 |
| Candid Therapeutics, Inc., Class B, noncumulative convertible <br> preferred shares <sup>(d)</sup> <br>| 8/27/2024 | 20000 | 21000 | 0.03 |
| USA Rare Earth, Inc., Class A <sup>(b)</sup> <br>| 1/26/2026 | 30379 | 18606 | 0.02 |
| Workrise Technologies, Inc., Series E, preferred shares <sup>(b)(d)</sup> <br>| 3/8/2021 | 40000 | 15923 | 0.02 |
| ClearNote Health, Inc., Series C, 5.00% noncumulative preferred <br> shares <sup>(a)(b)(d)</sup> <br>| 4/26/2021 | 15101 | 12800 | 0.02 |
| ClearNote Health, Inc., convertible notes, 8.00% <br>5/2/2026 <sup>(a)(d)</sup> <br>| 12/1/2022 | 2000 | 2112 | 0.00 <br><sup>(q)</sup><br>|
| Dock, Ltd. <sup>(b)(d)</sup> <br>| 10/19/2020 | 26000 | 14598 | 0.02 |
| StockX, Inc., Series E-1, preferred shares <sup>(b)(d)</sup> <br>| 4/15/2021 | 20000 | 6711 | 0.01 |
| StockX, Inc. <sup>(b)(d)</sup> <br>| 4/5/2021 | 14682 | 4886 | 0.01 |
| StockX, Inc., Series AA, preferred shares <sup>(b)(d)</sup> <br>| 4/5/2021 | 5203 | 1732 | 0.00 <br><sup>(q)</sup><br>|
| StockX, Inc., Series B, preferred shares <sup>(b)(d)</sup> <br>| 4/5/2021 | 281 | 93 | 0.00 <br><sup>(q)</sup><br>|
| Tarana Wireless, Inc., Series 6, noncumulative convertible <br> preferred shares <sup>(d)</sup> <br>| 2/18/2022 | 12179 | 9380 | 0.01 |
| Tarana Wireless, Inc., Series 8, noncumulative convertible <br> preferred shares <sup>(d)</sup> <br>| 9/2/2025 | 1320 | 1556 | 0.00 <br><sup>(q)</sup><br>|
| Tarana Wireless, Inc., Series 7A, noncumulative convertible <br> preferred shares <sup>(d)</sup> <br>| 9/2/2025 | 1000 | 692 | 0.00 <br><sup>(q)</sup><br>|
| Tarana Wireless, Inc., Series 7, noncumulative convertible <br> preferred shares <sup>(d)</sup> <br>| 9/2/2025 | 1000 | 692 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series F, preferred shares <sup>(b)(d)</sup> <br>| 2/25/2021 | 18329 | 2666 | 0.01 |
| Yotpo, Ltd. <sup>(b)(d)</sup> <br>| 3/16/2021 | 5475 | 838 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series B, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 2322 | 356 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series C, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 2211 | 338 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series A-1, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 1483 | 227 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series A, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 723 | 111 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series C-1, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 613 | 94 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series D, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 341 | 52 | 0.00 <br><sup>(q)</sup><br>|
| Yotpo, Ltd., Series B-1, preferred shares <sup>(b)(d)</sup> <br>| 3/16/2021 | 273 | 42 | 0.00 <br><sup>(q)</sup><br>|
| Outreach Corp., Series G, preferred shares <sup>(b)(d)</sup> <br>| 5/27/2021 | 45482 | 3947 | 0.00 <br><sup>(q)</sup><br>|
| RealSelf, Inc., Series C, convertible preferred shares <sup>(a)(d)</sup> <br>| 4/18/2018 | 19000 | 2185 | 0.00 <br><sup>(q)</sup><br>|
| Foursquare Labs, Inc., Series A <sup>(b)(d)</sup> <br>| 12/3/2013 | 20000 | 1261 | 0.00 <br><sup>(q)</sup><br>|
| Foursquare Labs, Inc., Series A, warrants, expire 12/4/2033 <sup>(b)(d)</sup> <br>| 8/22/2014 | — <br><sup>(h)</sup><br>| — <br><sup>(h)</sup><br>| 0.00 <br><sup>(q)</sup><br>|
| **Total** |  | $1424232 | $1282471 | 1.59<br> %<br>|

---

---

| | |
|:---|:---|
| **21** | SMALLCAP World Fund |

---

------

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

<sup>(a)</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>(b)</sup> Non-income producing.

<sup>(c)</sup> All or a portion of this security was on loan. Refer to Note 5 for more information on securities lending. 

<sup>(d)</sup> Value determined using significant unobservable inputs.

<sup>(e)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933.

<sup>(f)</sup> Security is subject to a contractual sale restriction (lockup). The total value of all such securities was $155,388,000, which represented 0.19% of the net assets of the fund. The remaining lockup period is generally less than one year; and early lockup release provisions may be applicable based on certain set milestones or condition in accordance with legal documents. 

<sup>(g)</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 $31,075,000, which represented 0.04% of the net assets of the fund. 

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

<sup>(i)</sup> Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. 

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

<sup>(k)</sup> Rate represents the seven-day yield at 3/31/2026.

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

<sup>(m)</sup> Affiliated issuer during the reporting period but no longer held at 3/31/2026.

<sup>(n)</sup> Affiliated issuer during the reporting period but no longer an affiliate at 3/31/2026. Refer to the investment portfolio for the security value at 3/31/2026.

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest  |
| EUR = Euros |
| GBP = British pounds |
| GDR = Global Depositary Receipts |
| REIT = Real Estate Investment Trust |
| USD = U.S. dollars |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| SMALLCAP World Fund | **22** |

---

------

Financial statements

**Statement of assets and liabilities** at March 31, 2026unaudited

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Assets:** |  |  |
| Investment securities, at value (includes $2,298,579 of <br>investment securities on loan):<br>|  |  |
| Unaffiliated issuers (cost: $44,910,258) | $60546645 |  |
| Affiliated issuers (cost: $13,410,261) | 21130607 | $81677252 |
| Cash |  | 5561 |
| Cash denominated in currencies other than U.S. dollars (cost: $14,690) |  | 14690 |
| Receivables for: |  |  |
| Sales of investments | 192385 |  |
| Sales of fund's shares | 68426 |  |
| Dividends and interest | 151710 |  |
| Securities lending income | 2107 |  |
| Other | 1931 | 416559<br>|
|  |  | 82114062 |
| **Liabilities:** |  |  |
| Collateral for securities on loan |  | 607306 |
| Payables for: |  |  |
| Purchases of investments | 194387 |  |
| Repurchases of fund's shares | 193121 |  |
| Investment advisory services | 42049 |  |
| Services provided by related parties | 13064 |  |
| Directors' deferred compensation | 6854 |  |
| Non-U.S. taxes | 154832 |  |
| Other | 1393 | 605700<br>|
| **Net assets at March 31, 2026** |  | $80901056 |
| **Net assets consist of:** |  |  |
| Capital paid in on shares of capital stock |  | $55560875 |
| Total distributable earnings (accumulated loss) |  | 25340181<br>|
| **Net assets at March 31, 2026** |  | $80901056 |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **23** | SMALLCAP World Fund |

---

------

Financial statements (continued)

**Statement of assets and liabilities** at March 31, 2026 (continued)unaudited

------

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

**Total authorized capital stock — 2,000,000 shares, $.01 par value (1,094,686 total shares outstanding)** 

---

| | | | |
|:---|:---|:---|:---|
|  | Net assets | Shares <br>outstanding<br>| Net asset value <br>per share<br>|
| Class A | $27244795 | 375696 | $72.52 |
| Class C | 259242 | 4467 | 58.03 |
| Class T | 15 | —<br> \*<br>| 73.58 |
| Class F-1 | 386815 | 5428 | 71.27 |
| Class F-2 | 10483149 | 140150 | 74.80 |
| Class F-3 | 7058517 | 95031 | 74.28 |
| Class 529-A | 1574947 | 22106 | 71.25 |
| Class 529-C | 26367 | 444 | 59.38 |
| Class 529-E | 45600 | 673 | 67.73 |
| Class 529-T | 21 | —<br> \*<br>| 73.38 |
| Class 529-F-1 | 13 | —<br> \*<br>| 73.22 |
| Class 529-F-2 | 310194 | 4259 | 72.83 |
| Class 529-F-3 | 58 | 1 | 72.92 |
| Class R-1 | 38971 | 645 | 60.41 |
| Class R-2 | 400112 | 6596 | 60.66 |
| Class R-2E | 33962 | 487 | 69.75 |
| Class R-3 | 649738 | 9651 | 67.32 |
| Class R-4 | 533018 | 7418 | 71.85 |
| Class R-5E | 214779 | 2928 | 73.37 |
| Class R-5 | 231868 | 3033 | 76.46 |
| Class R-6 | 31408875 | 415673 | 75.56 |

---

\*

Amount less than one thousand.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| SMALLCAP World Fund | **24** |

---

------

Financial statements (continued)

**Statement of operations** for the six months ended March 31, 2026unaudited

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Investment income:** |  |  |
| Income: |  |  |
| Dividends (net of non-U.S. taxes of $21,275; <br>also includes $164,906 from affiliates)<br>| $427609 |  |
| Securities lending income (net of fees) | 12843 |  |
| Interest (includes $80 from affiliates) | 2578 | $443030 |
| Fees and expenses\*: |  |  |
| Investment advisory services | 250061 |  |
| Distribution services | 44141 |  |
| Transfer agent services | 26478 |  |
| Administrative services | 12465 |  |
| 529 plan services | 518 |  |
| Reports to shareholders | 1989 |  |
| Registration statement and prospectus | 2374 |  |
| Directors' compensation | 743 |  |
| Auditing and legal | 401 |  |
| Custodian | 3583 |  |
| State and local taxes | 1 |  |
| Other | 634 | 343388<br>|
| Net investment income |  | 99642<br>|
| **Net realized gain (loss) and unrealized appreciation (depreciation):** |  |  |
| Net realized gain (loss) on: |  |  |
| Investments (net of non-U.S. taxes of $54,405): |  |  |
| Unaffiliated issuers | 3304078 |  |
| Affiliated issuers | 704664 |  |
| Currency transactions | 4261 | 4013003 |
| Net unrealized appreciation (depreciation) on: |  |  |
| Investments (net of non-U.S. taxes of $144,318): |  |  |
| Unaffiliated issuers | (3114958)<br>|  |
| Affiliated issuers | 157535 |  |
| Currency translations | (916)<br>| (2958339) <br>|
| Net realized gain (loss) and unrealized appreciation (depreciation) |  | 1054664<br>|
| **Net increase (decrease) in net assets resulting from operations** |  | $1154306 |

---

\*

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

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **25** | SMALLCAP World Fund |

---

------

Financial statements (continued)

**Statements of changes in net assets**

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br>**March 31,**<br>| **Year ended** <br>**September 30,**<br>|
|  | **2026\*** | **2025** |
| **Operations:** |  |  |
| Net investment income | $99642 | $387770 |
| Net realized gain (loss) | 4013003 | 3386827 |
| Net unrealized appreciation (depreciation) | (2958339)<br>| 1355462 |
| Net increase (decrease) in net assets resulting from operations | 1154306 | 5130059 |
| **Distributions paid to shareholders** | (3888375)<br>| (598203)<br>|
| **Net capital share transactions** | 2295541 | (269313)<br>|
| **Total increase (decrease) in net assets**  | (438528)<br>| 4262543 |
| **Net assets:** |  |  |
| Beginning of period | 81339584 | 77077041 |
| End of period | $80901056 | $81339584 |

---

\*

Unaudited.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| SMALLCAP World Fund | **26** |

---

------

Notes to financial statementsunaudited

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

**1. Organization**

------

SMALLCAP World Fund, Inc. (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 to provide long-term growth of capital. Shareholders approved a proposal to reorganize the fund from a Maryland corporation to a Delaware statutory trust. The reorganization may be completed in the next year; however, the fund reserves the right to delay the implementation.

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 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 Director 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.

---

| | |
|:---|:---|
| **27** | SMALLCAP World Fund |

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------

**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.

**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.

---

| | |
|:---|:---|
| **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>|

---

---

| | |
|:---|:---|
| SMALLCAP World Fund | **28** |

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------

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund's investment adviser. The Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series ("Central Funds"), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF's portfolio securities. The underlying securities are valued based on the policies and procedures in CCF's statement of additional information.

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

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

**Classifications** — The fund's investment adviser classifies the fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The fund's valuation levels as of March 31, 2026, were as follows (dollars in thousands):

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| | |
|:---|:---|
| **29** | SMALLCAP World Fund |

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------

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Industrials | $13620554 | $9125308 | $23702 | $22769564 |
| Financials | 5577927 | 5905341 |  | 11483268 |
| Information technology | 6797538 | 4598586 | 22990 | 11419114 |
| Consumer discretionary | 6959127 | 3203196 | 4886 | 10167209 |
| Health care | 5544148 | 2406391 | 28010 | 7978549 |
| Materials | 2889072 | 2200337 |  | 5089409 |
| Energy | 2095874 | 254681 |  | 2350555 |
| Consumer staples | 1220180 | 901895 |  | 2122075 |
| Real estate | 699416 | 832995 |  | 1532411 |
| Communication services | 290695 | 1059622 |  | 1350317 |
| Utilities | 476602 | 136782 | —<br> \*<br>| 613384 |
| Preferred securities  | 44985 | 4882 | 741634 | 791501 |
| Rights & warrants  |  |  | —<br> \*<br>| —<br> \*<br>|
| Convertible stocks  |  | 30491 | 108977 | 139468 |
| Convertible bonds & notes  |  | 11885 | 58337 | 70222 |
| Bonds, notes & other debt instruments  |  | 7212 |  | 7212 |
| Short-term securities | 3792994 |  |  | 3792994 |
| Total | $50009112 | $30679604 | $988536 | $81677252 |

---

\*

Amount less than one thousand.

The following table reconciles the valuation of the fund's Level 3 investment securities and related transactions for the six months ended

March 31, 2026 (dollars in thousands):

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common** <br>**stocks**<br>| **Preferred** <br>**securities**<br>| **Rights &** <br>**warrants**<br>| **Convertible** <br>**stocks**<br>| **Convertible bonds** <br>**& notes**<br>| **Bonds, notes** <br>**& other debt** <br>**instruments**<br>| **Total** |
| Beginning value at 10/1/2025 | &nbsp;&nbsp; $146445 | &nbsp;&nbsp; $633372 | &nbsp;&nbsp; $— <br><sup>3</sup><br>| &nbsp;&nbsp; $69897 | &nbsp;&nbsp; $49940 | &nbsp;&nbsp; $5000 | &nbsp;&nbsp; $904654 |
| Transfers into level 3<sup>1</sup> <br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Purchases | &nbsp;&nbsp; — | &nbsp;&nbsp; 64561 | &nbsp;&nbsp; — | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 22416 | &nbsp;&nbsp; — | &nbsp;&nbsp; 126977 |
| Sales | &nbsp;&nbsp; (1661)<br>| &nbsp;&nbsp; (7527)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>3</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (9188)<br>|
| Net realized gain (loss)<sup>2</sup> <br>| &nbsp;&nbsp; (1595)<br>| &nbsp;&nbsp; (7205)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (37440)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (46240)<br>|
| Unrealized appreciation (deprecia-<br> tion)<sup>2</sup> <br>| &nbsp;&nbsp; (52072)<br>| &nbsp;&nbsp; 58433 | &nbsp;&nbsp; — | &nbsp;&nbsp; 73396 | &nbsp;&nbsp; 307 | &nbsp;&nbsp; (5000)<br>| &nbsp;&nbsp; 75064 |
| Transfers out of level 3<sup>1</sup> <br>| &nbsp;&nbsp; (11529)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (36876)<br>| &nbsp;&nbsp; (14326)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (62731)<br>|
| Ending value at 3/31/2026 | &nbsp;&nbsp; $79588 | &nbsp;&nbsp; $741634 | &nbsp;&nbsp; $— <br><sup>3</sup><br>| &nbsp;&nbsp; $108977 | &nbsp;&nbsp; $58337 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $988536 |
| Net unrealized appreciation <br> (depreciation) <br>during the period on Level 3 <br>investment securities held at 3/31/2026<br>| &nbsp;&nbsp; $3353 | &nbsp;&nbsp; $115362 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $37571 | &nbsp;&nbsp; $2591 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $158877 |

---

<sup>1</sup>

Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.

<sup>2</sup>

Net realized gain (loss) and unrealized appreciation (depreciation) are included in the related amounts on investments in the fund's statement of operations.

<sup>3</sup>

Amount less than one thousand.

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| | |
|:---|:---|
| SMALLCAP World Fund | **30** |

---

------

**Unobservable inputs** — Valuation of the fund's Level 3 securities is based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The table on the following page provides additional information used by the fund's investment adviser to fair value the fund's Level 3 securities (dollars in thousands):

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Value at** <br>**3/31/2026**<br>| &nbsp;&nbsp; **Valuation** <br>**techniques**<br>| &nbsp;&nbsp; **Unobservable** <br>**inputs**<br>| **Range** <br>**(if applicable)**<br>| &nbsp;&nbsp; **Weighted** <br>**average**<sup>1</sup> <br>| &nbsp;&nbsp; **Impact to** <br>**valuation from** <br>**an increase in** <br>**input**<sup>2</sup> <br>|
| Common stocks | $79588 | Market comparables | EV/Sales multiple | 2.0x - 3.8x | 2.9x | Increase |
| Common stocks | $79588 | Market comparables | Discount to EV/Sales multiple | 10% | 10% | Decrease |
| Common stocks | $79588 | Market comparables | EV/EBITDA multiple | 6.7x | 6.7x | Increase |
| Common stocks | $79588 | Market comparables | &nbsp;&nbsp; Net adjustment (increase) based <br> on movement of market <br> comparables<br>| 13% | 13% | Increase |
| Common stocks | $79588 | Market comparables | &nbsp;&nbsp; Net adjustment (decrease) based <br> on movement of market <br> comparables<br>| 27% - 67% | 57% | Decrease |
| Common stocks | $79588 | Market comparables | DLOM | 15% - 22% | 17% | Decrease |
| Common stocks | $79588 | Market comparables | Risk discount  | 10% - 30% | 29% | Decrease |
| Common stocks | $79588 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
| Common stocks | $79588 | Transaction | Discount for uncertainty | 25% | 25% | Decrease |
| Common stocks | $79588 | &nbsp;&nbsp; Estimated recovery <br> value<br>| De minimis | Not applicable | Not applicable | Not applicable |
| Preferred securities | $741634 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
| Preferred securities | $741634 | Transaction | Discount for uncertainty | 25% | 25% | Decrease |
| Preferred securities | $741634 | Market comparables | EV/Sales multiple | 2.2x - 47.9x | 30.0x | Increase |
| Preferred securities | $741634 | Market comparables | EV/Gross Profit multiple | 9.0x - 14.0x | 10.4x | Increase |
| Preferred securities | $741634 | Market comparables | &nbsp;&nbsp; Net adjustment (decrease) based <br> on movement of market <br> comparables<br>| 18% | 18% | Decrease |
| Preferred securities | $741634 | Market comparables | Transaction price | Not applicable | Not applicable | Not applicable |
| Preferred securities | $741634 | Market comparables | Discount to transaction price | 40% | 40% | Decrease |
| Preferred securities | $741634 | Market comparables | DLOM  | 12% - 22% | 15% | Decrease |
| Preferred securities | $741634 | Market comparables | Risk discount  | 10% - 20% | 11% | Decrease |
| Rights & warrants | $— <br><sup>3</sup> | Black-Scholes | Underlying share price | Not applicable | Not applicable | Not applicable |
| Rights & warrants | $— <br><sup>3</sup> | Black-Scholes | Implied volatility | 30% | 30% | Increase |
| Rights & warrants | $— <br><sup>3</sup> | &nbsp;&nbsp; Estimated recovery <br> value<br>| De minimis | Not applicable | Not applicable | Not applicable |
| Convertible stocks | $108977 | Market comparables | EV/Sales multiple | 1.5x - 3.8x | 3.4x | Increase |
| Convertible stocks | $108977 | Market comparables | DLOM | 14% | 14% | Decrease |
| Convertible stocks | $108977 | Transaction | Transaction price | Not applicable | Not applicable | Not applicable |
| Convertible stocks | $108977 | Transaction | Discount for uncertainty | 10% | 10% | Decrease |
| Convertible bonds & <br> notes | $58337 | Expected proceeds | Expected proceeds | Not applicable | Not applicable | Not applicable |
| Convertible bonds & <br> notes | $58337 | &nbsp;&nbsp; Indicative market <br> quotation<br>| Broker quote | Not applicable | Not applicable | Not applicable |
| Convertible bonds & <br> notes | $58337 | &nbsp;&nbsp; Accreted value <br> method | Redemption price | Not applicable | Not applicable | Not applicable |
| Convertible bonds & <br> notes | $58337 | &nbsp;&nbsp; Accreted value <br> method | Yield | 15% | 15% | Decrease |
|  | $988536 |  |  |  |  |  |

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<sup>1</sup>

Weighted average is by relative fair value.

<sup>2</sup>

This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.

<sup>3</sup>

Amount less than one thousand.

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| |
|:---|
| **Key to abbreviations** |
| DLOM = Discount for lack of marketability |
| EBITDA = Earnings before interest, tax, depreciation, and amortization |
| EV = Enterprise value |

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| | |
|:---|:---|
| **31** | SMALLCAP World Fund |

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

**4. Risk factors**

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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 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. These risks may be even greater in the case of smaller capitalization stocks.

**Investing in small companies** — Investing in smaller companies may pose additional risks. For example, it is often more difficult to value or dispose of small company stocks and more difficult to obtain information about smaller companies than about larger companies. Furthermore, smaller companies often have limited product lines, operating histories, markets and/or financial resources, may be dependent on one or a few key persons for management, and can be more susceptible to losses. Moreover, the prices of their stocks may be more volatile than stocks of larger, more established companies, particularly during times of market turmoil.

**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.

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| | |
|:---|:---|
| SMALLCAP World Fund | **32** |

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**Investing in emerging markets** — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy, for example, by imposing capital controls, nationalizing a company or industry, placing restrictions on foreign ownership and on withdrawing sale proceeds of securities from the country, and/or imposing punitive taxes that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, more vulnerable to market manipulation, and more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the fund's net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**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.

**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**

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**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.

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.

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| | |
|:---|:---|
| **33** | SMALLCAP World Fund |

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As of March 31, 2026, the total value of securities on loan was $2,298,579,000, and the total value of collateral received was $2,427,507,000. Collateral received includes cash of $607,306,000 and U.S. government securities of $1,820,201,000. 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.

**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 March 31, 2026, 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.

**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. During the six months ended March 31, 2026, the fund recognized $8,635,000 in EU reclaims (net of the effect of realized gain or loss from currency translations) and $718,000 in interest related to European court rulings, which is included in dividend income and interest income, respectively, in the fund's statement of operations. For U.S. income tax purposes, EU reclaims received by the fund reduce the amount of foreign taxes that a fund may pass through to its shareholders to be utilized as tax deductions or credit on their income tax returns. If the fund receives EU reclaims and either does not pass through foreign taxes in the current year or EU reclaims received exceed foreign taxes for the year, and the fund previously passed through the refunded EU taxes to its shareholders, the fund will enter into a closing agreement with the Internal Revenue Service in order to satisfy potential tax liability. 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; unrealized appreciation of certain investments in securities outside the U.S.; cost of investments sold and non-U.S. taxes on capital gains. 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 September 30, 2025, the components of distributable earnings on a tax basis were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Undistributed ordinary income | $697452 |
| Undistributed long-term capital gains | 3189434 |
| Capital loss carryforward utilized | 910931 |
| Post-October capital loss deferral\* | (718968)<br>|

---

\*

This deferral is considered incurred in the subsequent year.

As of March 31, 2026, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

---

| | |
|:---|:---|
| Gross unrealized appreciation on investments | $26454187 |
| Gross unrealized depreciation on investments | (4224030)<br>|
| Net unrealized appreciation (depreciation) on investments | 22230157 |
| Cost of investments | 59447095 |

---

---

| | |
|:---|:---|
| SMALLCAP World Fund | **34** |

---

------

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** |
| <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; $188049 | $1105914 | $1293963 | &nbsp;&nbsp;&nbsp;&nbsp; $169460 | $— | $169460 |
| Class C | &nbsp;&nbsp; 365 | 13510 | 13875 | &nbsp;&nbsp;&nbsp;&nbsp; 115 |  | 115 |
| Class T | &nbsp;&nbsp; — <br><sup>†</sup><br>| 1 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| Class F-1 | &nbsp;&nbsp; 2567 | 16308 | 18875 | &nbsp;&nbsp;&nbsp;&nbsp; 2433 |  | 2433 |
| Class F-2 | &nbsp;&nbsp; 92918 | 396448 | 489366 | &nbsp;&nbsp;&nbsp;&nbsp; 86995 |  | 86995 |
| Class F-3 | &nbsp;&nbsp; 72208 | 276463 | 348671 | &nbsp;&nbsp;&nbsp;&nbsp; 63437 |  | 63437 |
| Class 529-A | &nbsp;&nbsp; 10684 | 64574 | 75258 | &nbsp;&nbsp;&nbsp;&nbsp; 9601 |  | 9601 |
| Class 529-C | &nbsp;&nbsp; 22 | 1303 | 1325 | &nbsp;&nbsp;&nbsp;&nbsp; — |  |  |
| Class 529-E | &nbsp;&nbsp; 237 | 2004 | 2241 | &nbsp;&nbsp;&nbsp;&nbsp; 214 |  | 214 |
| Class 529-T | &nbsp;&nbsp; — <br><sup>†</sup><br>| 1 | 1 | &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| Class 529-F-1 | &nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|  | — <br><sup>†</sup><br>|
| Class 529-F-2 | &nbsp;&nbsp; 2873 | 12216 | 15089 | &nbsp;&nbsp;&nbsp;&nbsp; 2450 |  | 2450 |
| Class 529-F-3 | &nbsp;&nbsp; 1 | 2 | 3 | &nbsp;&nbsp;&nbsp;&nbsp; 1 |  | 1 |
| Class R-1 | &nbsp;&nbsp; 78 | 1890 | 1968 | &nbsp;&nbsp;&nbsp;&nbsp; 43 |  | 43 |
| Class R-2 | &nbsp;&nbsp; 677 | 19845 | 20522 | &nbsp;&nbsp;&nbsp;&nbsp; 253 |  | 253 |
| Class R-2E | &nbsp;&nbsp; 113 | 1467 | 1580 | &nbsp;&nbsp;&nbsp;&nbsp; 84 |  | 84 |
| Class R-3 | &nbsp;&nbsp; 3250 | 28448 | 31698 | &nbsp;&nbsp;&nbsp;&nbsp; 2733 |  | 2733 |
| Class R-4 | &nbsp;&nbsp; 3787 | 21815 | 25602 | &nbsp;&nbsp;&nbsp;&nbsp; 3768 |  | 3768 |
| Class R-5E | &nbsp;&nbsp; 1929 | 8580 | 10509 | &nbsp;&nbsp;&nbsp;&nbsp; 1703 |  | 1703 |
| Class R-5 | &nbsp;&nbsp; 2250 | 9202 | 11452 | &nbsp;&nbsp;&nbsp;&nbsp; 2487 |  | 2487 |
| Class R-6 | &nbsp;&nbsp; 316165 | 1210211 | 1526376 | &nbsp;&nbsp;&nbsp;&nbsp; 252426 |  | 252426 |
| Total | &nbsp;&nbsp; $698173 | $3190202 | $3888375 | &nbsp;&nbsp;&nbsp;&nbsp; $598203 | $— | $598203 |

---

<sup>†</sup>

Amount less than one thousand.

**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 0.800% on the first $1 billion of daily net assets and decreasing to 0.583% on such assets in excess of $89 billion. For the six months ended March 31, 2026, the investment advisory services fees were $250,061,000, which were equivalent to an annualized rate of 0.602% 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:

---

| | |
|:---|:---|
| **35** | SMALLCAP World Fund |

---

------

**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 directors 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 0.30% to 1.00% as noted in this section. In some cases, the board of directors 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 | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Class 529-A | 0.30 | &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 March 31, 2026, there were no unreimbursed expenses subject to reimbursement for Class A or 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.

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 March 31, 2026, the 529 plan services fees were $518,000, which were equivalent to 0.051% of the average daily net assets of each 529 share class.

---

| | |
|:---|:---|
| SMALLCAP World Fund | **36** |

---

------

For the six months ended March 31, 2026, 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 | $35772 | $17072 | $4242 | Not applicable |
| Class C | 1388 | 168 | 42 | Not applicable |
| Class T |  | —<br> \*<br>| —<br> \*<br>| Not applicable |
| Class F-1 | 499 | 368 | 61 | Not applicable |
| Class F-2 | Not applicable | 5860 | 1574 | Not applicable |
| Class F-3 | Not applicable | 26 | 1087 | Not applicable |
| Class 529-A | 1948 | 932 | 244 | $418 |
| Class 529-C | 139 | 16 | 4 | 7 |
| Class 529-E | 121 | 13 | 7 | 12 |
| 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 | 91 | 47 | 81 |
| Class 529-F-3 | Not applicable | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class R-1 | 202 | 19 | 6 | Not applicable |
| Class R-2 | 1582 | 739 | 63 | Not applicable |
| Class R-2E | 106 | 36 | 5 | Not applicable |
| Class R-3 | 1692 | 510 | 102 | Not applicable |
| Class R-4 | 692 | 279 | 83 | Not applicable |
| Class R-5E | Not applicable | 170 | 34 | Not applicable |
| Class R-5 | Not applicable | 68 | 38 | Not applicable |
| Class R-6 | Not applicable | 111 | 4826 | Not applicable |
| Total class-specific expenses | $44141 | $26478 | $12465 | $518 |

---

\*

Amount less than one thousand.

**Directors' deferred compensation** — Directors 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. Directors' compensation of $743,000 in the fund's statement of operations reflects $116,000 in current fees (either paid in cash or deferred) and a net increase of $627,000 in the value of the deferred amounts.

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

**Investment in CCF** — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. 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. 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 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 directors. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common directors 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 March 31, 2026, the fund engaged in such purchase and sale transactions with related funds in the amounts of $118,831,000 and $170,156,000, respectively, which generated $89,641,000 of net realized gains from such sales.

**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 March 31, 2026.

---

| | |
|:---|:---|
| **37** | SMALLCAP World Fund |

---

------

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

**8. Committed line of credit**

------

The fund participates with other funds managed by CRMC (or funds managed by certain affiliates of CRMC) in a $1.5 billion credit facility (the "line of credit") to be utilized for temporary purposes to support shareholder redemptions. The fund has agreed to pay commitment fees on its pro-rata portion of the line of credit, which are reflected in other expenses in the fund's statement of operations. The fund did not borrow on this line of credit at any time during the six months ended March 31, 2026.

**9. 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.

**10. 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 March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** | **Six months ended March 31, 2026** |
| Class A | $766798 | 10123 | &nbsp;&nbsp;&nbsp; $1274877 | 17371 | &nbsp;&nbsp;&nbsp; $(1944159)<br>| (25768)<br>| &nbsp;&nbsp;&nbsp; $97516 | 1726 |
| Class C | 16631 | 274 | &nbsp;&nbsp;&nbsp; 13824 | 235 | &nbsp;&nbsp;&nbsp; (46267)<br>| (759)<br>| &nbsp;&nbsp;&nbsp; (15812)<br>| (250)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 12564 | 169 | &nbsp;&nbsp;&nbsp; 18633 | 258 | &nbsp;&nbsp;&nbsp; (37021)<br>| (499)<br>| &nbsp;&nbsp;&nbsp; (5824)<br>| (72)<br>|
| Class F-2 | 1366872 | 17539 | &nbsp;&nbsp;&nbsp; 474908 | 6279 | &nbsp;&nbsp;&nbsp; (993584)<br>| (12790)<br>| &nbsp;&nbsp;&nbsp; 848196 | 11028 |
| Class F-3 | 618117 | 7990 | &nbsp;&nbsp;&nbsp; 345951 | 4607 | &nbsp;&nbsp;&nbsp; (730994)<br>| (9448)<br>| &nbsp;&nbsp;&nbsp; 233074 | 3149 |
| Class 529-A | 68124 | 916 | &nbsp;&nbsp;&nbsp; 75226 | 1043 | &nbsp;&nbsp;&nbsp; (120649)<br>| (1623)<br>| &nbsp;&nbsp;&nbsp; 22701 | 336 |
| Class 529-C | 3587 | 58 | &nbsp;&nbsp;&nbsp; 1326 | 22 | &nbsp;&nbsp;&nbsp; (5520)<br>| (89)<br>| &nbsp;&nbsp;&nbsp; (607)<br>| (9)<br>|
| Class 529-E | 1391 | 20 | &nbsp;&nbsp;&nbsp; 2235 | 32 | &nbsp;&nbsp;&nbsp; (5765)<br>| (82)<br>| &nbsp;&nbsp;&nbsp; (2139)<br>| (30)<br>|
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>|
| 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 | 28320 | 374 | &nbsp;&nbsp;&nbsp; 15085 | 205 | &nbsp;&nbsp;&nbsp; (28162)<br>| (371)<br>| &nbsp;&nbsp;&nbsp; 15243 | 208 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; 3 | — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 3 | — <br><sup>†</sup><br>|
| Class R-1 | 2080 | 33 | &nbsp;&nbsp;&nbsp; 1953 | 32 | &nbsp;&nbsp;&nbsp; (3553)<br>| (57)<br>| &nbsp;&nbsp;&nbsp; 480 | 8 |
| Class R-2 | 28398 | 448 | &nbsp;&nbsp;&nbsp; 20477 | 333 | &nbsp;&nbsp;&nbsp; (62289)<br>| (982)<br>| &nbsp;&nbsp;&nbsp; (13414)<br>| (201)<br>|
| Class R-2E | 3647 | 50 | &nbsp;&nbsp;&nbsp; 1580 | 22 | &nbsp;&nbsp;&nbsp; (5835)<br>| (80)<br>| &nbsp;&nbsp;&nbsp; (608)<br>| (8)<br>|
| Class R-3 | 46231 | 658 | &nbsp;&nbsp;&nbsp; 31678 | 465 | &nbsp;&nbsp;&nbsp; (84270)<br>| (1205)<br>| &nbsp;&nbsp;&nbsp; (6361)<br>| (82)<br>|
| Class R-4 | 35802 | 478 | &nbsp;&nbsp;&nbsp; 25600 | 352 | &nbsp;&nbsp;&nbsp; (67866)<br>| (906)<br>| &nbsp;&nbsp;&nbsp; (6464)<br>| (76)<br>|
| Class R-5E | 24459 | 320 | &nbsp;&nbsp;&nbsp; 10503 | 142 | &nbsp;&nbsp;&nbsp; (29867)<br>| (394)<br>| &nbsp;&nbsp;&nbsp; 5095 | 68 |
| Class R-5 | 10457 | 131 | &nbsp;&nbsp;&nbsp; 11430 | 148 | &nbsp;&nbsp;&nbsp; (52816)<br>| (664)<br>| &nbsp;&nbsp;&nbsp; (30929)<br>| (385)<br>|
| Class R-6 | 1890883 | 24170 | &nbsp;&nbsp;&nbsp; 1517755 | 19869 | &nbsp;&nbsp;&nbsp; (2253249)<br>| (28625)<br>| &nbsp;&nbsp;&nbsp; 1155389 | 15414 |
| Total net increase <br> (decrease)<br>| $4924361 | 63751 | &nbsp;&nbsp;&nbsp; $3843046 | 51415 | &nbsp;&nbsp;&nbsp; $(6471866)<br>| (84342)<br>| &nbsp;&nbsp;&nbsp; $2295541 | 30824 |

---

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

---

| | |
|:---|:---|
| SMALLCAP World Fund | **38** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **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 September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** | **Year ended September 30, 2025** |
| Class A | $1403871 | 20362 | &nbsp;&nbsp;&nbsp; $166945 | 2455 | &nbsp;&nbsp;&nbsp; $(3667103)<br>| (53228)<br>| &nbsp;&nbsp;&nbsp; $(2096287)<br>| (30411)<br>|
| Class C | 33241 | 596 | &nbsp;&nbsp;&nbsp; 114 | 2 | &nbsp;&nbsp;&nbsp; (100859)<br>| (1817)<br>| &nbsp;&nbsp;&nbsp; (67504)<br>| (1219)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 18727 | 275 | &nbsp;&nbsp;&nbsp; 2404 | 36 | &nbsp;&nbsp;&nbsp; (85424)<br>| (1262)<br>| &nbsp;&nbsp;&nbsp; (64293)<br>| (951)<br>|
| Class F-2 | 2531332 | 35574 | &nbsp;&nbsp;&nbsp; 84466 | 1207 | &nbsp;&nbsp;&nbsp; (3349821)<br>| (48232)<br>| &nbsp;&nbsp;&nbsp; (734023)<br>| (11451)<br>|
| Class F-3 | 1411440 | 20001 | &nbsp;&nbsp;&nbsp; 62899 | 906 | &nbsp;&nbsp;&nbsp; (1317877)<br>| (18748)<br>| &nbsp;&nbsp;&nbsp; 156462 | 2159 |
| Class 529-A | 131385 | 1932 | &nbsp;&nbsp;&nbsp; 9598 | 144 | &nbsp;&nbsp;&nbsp; (270267)<br>| (3952)<br>| &nbsp;&nbsp;&nbsp; (129284)<br>| (1876)<br>|
| Class 529-C | 6599 | 116 | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; (13260)<br>| (232)<br>| &nbsp;&nbsp;&nbsp; (6661)<br>| (116)<br>|
| Class 529-E | 3867 | 60 | &nbsp;&nbsp;&nbsp; 213 | 3 | &nbsp;&nbsp;&nbsp; (10622)<br>| (163)<br>| &nbsp;&nbsp;&nbsp; (6542)<br>| (100)<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 | 54604 | 788 | &nbsp;&nbsp;&nbsp; 2449 | 36 | &nbsp;&nbsp;&nbsp; (46901)<br>| (673)<br>| &nbsp;&nbsp;&nbsp; 10152 | 151 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; 1 | — <br><sup>†</sup><br>|
| Class R-1 | 4384 | 75 | &nbsp;&nbsp;&nbsp; 43 | 1 | &nbsp;&nbsp;&nbsp; (6504)<br>| (112)<br>| &nbsp;&nbsp;&nbsp; (2077)<br>| (36)<br>|
| Class R-2 | 60820 | 1050 | &nbsp;&nbsp;&nbsp; 253 | 4 | &nbsp;&nbsp;&nbsp; (116250)<br>| (1999)<br>| &nbsp;&nbsp;&nbsp; (55177)<br>| (945)<br>|
| Class R-2E | 6669 | 102 | &nbsp;&nbsp;&nbsp; 84 | 1 | &nbsp;&nbsp;&nbsp; (9408)<br>| (142)<br>| &nbsp;&nbsp;&nbsp; (2655)<br>| (39)<br>|
| Class R-3 | 102748 | 1608 | &nbsp;&nbsp;&nbsp; 2729 | 43 | &nbsp;&nbsp;&nbsp; (147425)<br>| (2301)<br>| &nbsp;&nbsp;&nbsp; (41948)<br>| (650)<br>|
| Class R-4 | 71551 | 1047 | &nbsp;&nbsp;&nbsp; 3767 | 56 | &nbsp;&nbsp;&nbsp; (163886)<br>| (2393)<br>| &nbsp;&nbsp;&nbsp; (88568)<br>| (1290)<br>|
| Class R-5E | 42505 | 611 | &nbsp;&nbsp;&nbsp; 1703 | 25 | &nbsp;&nbsp;&nbsp; (44780)<br>| (642)<br>| &nbsp;&nbsp;&nbsp; (572)<br>| (6)<br>|
| Class R-5 | 31039 | 429 | &nbsp;&nbsp;&nbsp; 2482 | 35 | &nbsp;&nbsp;&nbsp; (73521)<br>| (1011)<br>| &nbsp;&nbsp;&nbsp; (40000)<br>| (547)<br>|
| Class R-6 | 4989938 | 70003 | &nbsp;&nbsp;&nbsp; 250837 | 3553 | &nbsp;&nbsp;&nbsp; (2341112)<br>| (32831)<br>| &nbsp;&nbsp;&nbsp; 2899663 | 40725 |
| Total net increase <br> (decrease)<br>| $10904720 | 154629 | &nbsp;&nbsp;&nbsp; $590987 | 8507 | &nbsp;&nbsp;&nbsp; $(11765020)<br>| (169738)<br>| &nbsp;&nbsp;&nbsp; $(269313)<br>| (6602)<br>|

---

\*

Includes exchanges between share classes of the fund.

<sup>†</sup>

Amount less than one thousand.

**11. Investment transactions**

------

The fund engaged in purchases and sales of investment securities, excluding in-kind transactions, short-term securities and U.S. government obligations, if any, of $19,173,504,000 and $20,637,777,000, respectively, during the six months ended March 31, 2026.

---

| | |
|:---|:---|
| **39** | SMALLCAP World Fund |

---

------

Financial highlights

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended**  | <br>**Net asset** <br>**value,** <br>**beginning** <br>**of year**<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,** <br>**end** <br>**of year**<br>| <br>**Total return**<sup>2,3</sup> <br>| <br>**Net assets,** <br>**end of** <br>**year** <br>**(in millions)** <br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>4</sup> <br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,4</sup> <br>| <br>**Ratio of** <br>**net income** <br>**(loss) to** <br>**average** <br>**net assets**<sup>3</sup> <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:**  | **Class A:**  |
| 3/31/2026<sup>5,6</sup> <br>| $75.06 | $.01 | $.97 | $.98 | $(.51)<br>| $(3.01)<br>| $(3.52)<br>| $72.52 | 1.27 %<sup>7</sup><br>| $27245 | 1.03 %<sup>8</sup><br>| 1.03 %<sup>8</sup><br>| .03 %<sup>8</sup><br>|
| 9/30/2025 | 70.82 | .22 | 4.45 | 4.67 | (.43)<br>|  | (.43)<br>| 75.06 | 6.62 | 28070 | 1.03 | 1.03 | .31 |
| 9/30/2024 | 58.93 | .23 | 12.08 | 12.31 | (.42)<br>|  | (.42)<br>| 70.82 | 21.01 | 28639 | 1.04 | 1.04 | .35 |
| 9/30/2023 | 51.99 | .25 | 6.69 | 6.94 |  |  |  | 58.93 | 13.31 | 25283 | 1.05 | 1.05 | .42 |
| 9/30/2022 | 88.19 | (.04)<br>| (28.76)<br>| (28.80)<br>|  | (7.40)<br>| (7.40)<br>| 51.99 | (35.39)<br>| 23553 | 1.01 | 1.01 | (.05)<br>|
| 9/30/2021 | 66.23 | (.37)<br>| 23.60 | 23.23 |  | (1.27)<br>| (1.27)<br>| 88.19 | 35.35 | 38095 | 1.02 | 1.02 | (.44)<br>|
| **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:**  | **Class C:**  |
| 3/31/2026<sup>5,6</sup> <br>| 60.55 | (.22)<br>| .79 | .57 | (.08)<br>| (3.01)<br>| (3.09)<br>| 58.03 | .88 <br><sup>7</sup><br>| 259 | 1.77 <br><sup>8</sup><br>| 1.77 <br><sup>8</sup><br>| (.72 )<sup>8</sup><br>|
| 9/30/2025 | 57.23 | (.25)<br>| 3.59 | 3.34 | (.02)<br>|  | (.02)<br>| 60.55 | 5.84 | 286 | 1.78 | 1.78 | (.45)<br>|
| 9/30/2024 | 47.70 | (.21)<br>| 9.79 | 9.58 | (.05)<br>|  | (.05)<br>| 57.23 | 20.11 | 340 | 1.78 | 1.78 | (.40)<br>|
| 9/30/2023 | 42.40 | (.16)<br>| 5.46 | 5.30 |  |  |  | 47.70 | 12.48 | 349 | 1.79 | 1.79 | (.34)<br>|
| 9/30/2022 | 73.86 | (.46)<br>| (23.60)<br>| (24.06)<br>|  | (7.40)<br>| (7.40)<br>| 42.40 | (35.86)<br>| 378 | 1.75 | 1.75 | (.81)<br>|
| 9/30/2021 | 56.04 | (.82)<br>| 19.91 | 19.09 |  | (1.27)<br>| (1.27)<br>| 73.86 | 34.36 | 713 | 1.75 | 1.75 | (1.18)<br>|
| **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:**  | **Class T:**  |
| 3/31/2026<sup>5,6</sup> <br>| 76.20 | .11 | .98 | 1.09 | (.70)<br>| (3.01)<br>| (3.71)<br>| 73.58 | 1.40 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .77 <br><sup>89</sup><br>| .77 <br><sup>89</sup><br>| .29 <br><sup>89</sup><br>|
| 9/30/2025 | 71.92 | .41 | 4.50 | 4.91 | (.63)<br>|  | (.63)<br>| 76.20 | 6.91 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .76 <br><sup>9</sup><br>| .76 <br><sup>9</sup><br>| .58 <br><sup>9</sup><br>|
| 9/30/2024 | 59.82 | .43 | 12.27 | 12.70 | (.60)<br>|  | (.60)<br>| 71.92 | 21.35 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .75 <br><sup>9</sup><br>| .75 <br><sup>9</sup><br>| .64 <br><sup>9</sup><br>|
| 9/30/2023 | 52.73 | .42 | 6.79 | 7.21 | (.12)<br>|  | (.12)<br>| 59.82 | 13.63 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .77 <br><sup>9</sup><br>| .77 <br><sup>9</sup><br>| .70 <br><sup>9</sup><br>|
| 9/30/2022 | 89.14 | .13 | (29.14)<br>| (29.01)<br>|  | (7.40)<br>| (7.40)<br>| 52.73 | (35.21 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .76 <br><sup>9</sup><br>| .76 <br><sup>9</sup><br>| .19 <br><sup>9</sup><br>|
| 9/30/2021 | 66.78 | (.18)<br>| 23.81 | 23.63 |  | (1.27)<br>| (1.27)<br>| 89.14 | 35.64 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .79 <br><sup>9</sup><br>| .79 <br><sup>9</sup><br>| (.21 )<sup>9</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:**  | **Class F-1:**  |
| 3/31/2026<sup>5,6</sup> <br>| 73.81 | (.01)<br>| .95 | .94 | (.47)<br>| (3.01)<br>| (3.48)<br>| 71.27 | 1.24 <br><sup>7</sup><br>| 387 | 1.08 <br><sup>8</sup><br>| 1.08 <br><sup>8</sup><br>| (.02 )<sup>8</sup><br>|
| 9/30/2025 | 69.65 | .17 | 4.38 | 4.55 | (.39)<br>|  | (.39)<br>| 73.81 | 6.58 | 406 | 1.08 | 1.08 | .25 |
| 9/30/2024 | 57.95 | .19 | 11.90 | 12.09 | (.39)<br>|  | (.39)<br>| 69.65 | 20.96 | 449 | 1.08 | 1.08 | .30 |
| 9/30/2023 | 51.14 | .22 | 6.59 | 6.81 |  |  |  | 57.95 | 13.25 | 446 | 1.08 | 1.08 | .38 |
| 9/30/2022 | 86.92 | (.07)<br>| (28.31)<br>| (28.38)<br>|  | (7.40)<br>| (7.40)<br>| 51.14 | (35.41)<br>| 454 | 1.05 | 1.05 | (.10)<br>|
| 9/30/2021 | 65.31 | (.39)<br>| 23.27 | 22.88 |  | (1.27)<br>| (1.27)<br>| 86.92 | 35.31 | 791 | 1.05 | 1.05 | (.48)<br>|
| **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:**  | **Class F-2:**  |
| 3/31/2026<sup>5,6</sup> <br>| 77.40 | .12 | 1.00 | 1.12 | (.71)<br>| (3.01)<br>| (3.72)<br>| 74.80 | 1.40 <br><sup>7</sup><br>| 10483 | .77 <br><sup>8</sup><br>| .77 <br><sup>8</sup><br>| .30 <br><sup>8</sup><br>|
| 9/30/2025 | 73.03 | .40 | 4.59 | 4.99 | (.62)<br>|  | (.62)<br>| 77.40 | 6.92 | 9994 | .77 | .77 | .56 |
| 9/30/2024 | 60.74 | .42 | 12.47 | 12.89 | (.60)<br>|  | (.60)<br>| 73.03 | 21.32 | 10266 | .77 | .77 | .62 |
| 9/30/2023 | 53.55 | .43 | 6.88 | 7.31 | (.12)<br>|  | (.12)<br>| 60.74 | 13.64 | 8514 | .77 | .77 | .70 |
| 9/30/2022 | 90.40 | .14 | (29.59)<br>| (29.45)<br>|  | (7.40)<br>| (7.40)<br>| 53.55 | (35.23)<br>| 7311 | .76 | .76 | .20 |
| 9/30/2021 | 67.69 | (.15)<br>| 24.13 | 23.98 |  | (1.27)<br>| (1.27)<br>| 90.40 | 35.69 | 10659 | .76 | .76 | (.18)<br>|
| **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:**  | **Class F-3:**  |
| 3/31/2026<sup>5,6</sup> <br>| 76.92 | .16 | 1.00 | 1.16 | (.79)<br>| (3.01)<br>| (3.80)<br>| 74.28 | 1.46 <br><sup>7</sup><br>| 7058 | .66 <br><sup>8</sup><br>| .66 <br><sup>8</sup><br>| .41 <br><sup>8</sup><br>|
| 9/30/2025 | 72.58 | .50 | 4.54 | 5.04 | (.70)<br>|  | (.70)<br>| 76.92 | 7.04 | 7068 | .65 | .65 | .70 |
| 9/30/2024 | 60.36 | .50 | 12.38 | 12.88 | (.66)<br>|  | (.66)<br>| 72.58 | 21.46 | 6512 | .66 | .66 | .74 |
| 9/30/2023 | 53.22 | .50 | 6.83 | 7.33 | (.19)<br>|  | (.19)<br>| 60.36 | 13.75 | 5018 | .66 | .66 | .82 |
| 9/30/2022 | 89.80 | .22 | (29.40)<br>| (29.18)<br>|  | (7.40)<br>| (7.40)<br>| 53.22 | (35.14)<br>| 3904 | .65 | .65 | .32 |
| 9/30/2021 | 67.18 | (.07)<br>| 23.96 | 23.89 |  | (1.27)<br>| (1.27)<br>| 89.80 | 35.83 | 5382 | .66 | .66 | (.08)<br>|
| **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:**  | **Class 529-A:**  |
| 3/31/2026<sup>5,6</sup> <br>| 73.80 | — <br><sup>11</sup><br>| .96 | .96 | (.50)<br>| (3.01)<br>| (3.51)<br>| 71.25 | 1.25 <br><sup>7</sup><br>| 1575 | 1.06 <br><sup>8</sup><br>| 1.06 <br><sup>8</sup><br>| — <br><sup>8,12</sup><br>|
| 9/30/2025 | 69.64 | .20 | 4.37 | 4.57 | (.41)<br>|  | (.41)<br>| 73.80 | 6.63 | 1607 | 1.05 | 1.05 | .29 |
| 9/30/2024 | 57.95 | .20 | 11.90 | 12.10 | (.41)<br>|  | (.41)<br>| 69.64 | 20.95 | 1647 | 1.07 | 1.07 | .32 |
| 9/30/2023 | 51.14 | .23 | 6.58 | 6.81 |  |  |  | 57.95 | 13.27 | 1473 | 1.08 | 1.08 | .39 |
| 9/30/2022 | 86.91 | (.05)<br>| (28.32)<br>| (28.37)<br>|  | (7.40)<br>| (7.40)<br>| 51.14 | (35.40)<br>| 1378 | 1.04 | 1.04 | (.08)<br>|
| 9/30/2021 | 65.29 | (.38)<br>| 23.27 | 22.89 |  | (1.27)<br>| (1.27)<br>| 86.91 | 35.31 | 2227 | 1.04 | 1.04 | (.47)<br>|

---

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

---

| | |
|:---|:---|
| SMALLCAP World Fund | **40** |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended**  | <br>**Net asset**<br> **value,**<br> **beginning**<br> **of year**<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,**<br> **end**<br> **of year**<br>| <br>**Total return**<sup>2,3</sup> | <br>**Net assets,**<br> **end of**<br> **year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>4</sup><br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>3,4</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss) to**<br> **average**<br> **net assets**<sup>3</sup><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:**  | **Class 529-C:**  |
| 3/31/2026<sup>5,6</sup> <br>| $61.87 | $(.24)<br>| $.81 | $.57 | $(.05)<br>| $(3.01)<br>| $(3.06)<br>| $59.38 | .86 %<sup>7</sup><br>| $26 | 1.82 %<sup>8</sup><br>| 1.82 %<sup>8</sup><br>| (.76 )%<sup>8</sup><br>|
| 9/30/2025 | 58.47 | (.28)<br>| 3.68 | 3.40 |  |  |  | 61.87 | 5.80 | 28 | 1.81 | 1.81 | (.48)<br>|
| 9/30/2024 | 48.72 | (.23)<br>| 9.98 | 9.75 |  |  |  | 58.47 | 20.08 | 33 | 1.81 | 1.81 | (.44)<br>|
| 9/30/2023 | 43.33 | (.20)<br>| 5.59 | 5.39 |  |  |  | 48.72 | 12.39 | 37 | 1.86 | 1.86 | (.40)<br>|
| 9/30/2022 | 75.34 | (.51)<br>| (24.10)<br>| (24.61)<br>|  | (7.40)<br>| (7.40)<br>| 43.33 | (35.90)<br>| 44 | 1.81 | 1.81 | (.87)<br>|
| 9/30/2021 | 57.17 | (.86)<br>| 20.30 | 19.44 |  | (1.27)<br>| (1.27)<br>| 75.34 | 34.30 | 89 | 1.79 | 1.79 | (1.22)<br>|
| **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:**  | **Class 529-E:**  |
| 3/31/2026<sup>5,6</sup> <br>| 70.26 | (.07)<br>| .91 | .84 | (.36)<br>| (3.01)<br>| (3.37)<br>| 67.73 | 1.13 <br><sup>7</sup><br>| 46 | 1.26 <br><sup>8</sup><br>| 1.26 <br><sup>8</sup><br>| (.20 )<sup>8</sup><br>|
| 9/30/2025 | 66.32 | .05 | 4.17 | 4.22 | (.28)<br>|  | (.28)<br>| 70.26 | 6.40 | 49 | 1.26 | 1.26 | .08 |
| 9/30/2024 | 55.22 | .08 | 11.32 | 11.40 | (.30)<br>|  | (.30)<br>| 66.32 | 20.73 | 53 | 1.26 | 1.26 | .12 |
| 9/30/2023 | 48.83 | .11 | 6.28 | 6.39 |  |  |  | 55.22 | 13.04 | 50 | 1.27 | 1.27 | .19 |
| 9/30/2022 | 83.48 | (.19)<br>| (27.06)<br>| (27.25)<br>|  | (7.40)<br>| (7.40)<br>| 48.83 | (35.53)<br>| 48 | 1.25 | 1.25 | (.29)<br>|
| 9/30/2021 | 62.89 | (.53)<br>| 22.39 | 21.86 |  | (1.27)<br>| (1.27)<br>| 83.48 | 35.04 | 81 | 1.26 | 1.26 | (.68)<br>|
| **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:**  | **Class 529-T:**  |
| 3/31/2026<sup>5,6</sup> <br>| 75.98 | .09 | .98 | 1.07 | (.66)<br>| (3.01)<br>| (3.67)<br>| 73.38 | 1.37 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .82 <br><sup>89</sup><br>| .82 <br><sup>89</sup><br>| .24 <br><sup>89</sup><br>|
| 9/30/2025 | 71.69 | .36 | 4.50 | 4.86 | (.57)<br>|  | (.57)<br>| 75.98 | 6.85 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .83 <br><sup>9</sup><br>| .83 <br><sup>9</sup><br>| .51 <br><sup>9</sup><br>|
| 9/30/2024 | 59.65 | .37 | 12.24 | 12.61 | (.57)<br>|  | (.57)<br>| 71.69 | 21.26 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .83 <br><sup>9</sup><br>| .83 <br><sup>9</sup><br>| .57 <br><sup>9</sup><br>|
| 9/30/2023 | 52.59 | .39 | 6.76 | 7.15 | (.09)<br>|  | (.09)<br>| 59.65 | 13.55 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .83 <br><sup>9</sup><br>| .83 <br><sup>9</sup><br>| .64 <br><sup>9</sup><br>|
| 9/30/2022 | 88.95 | .10 | (29.06)<br>| (28.96)<br>|  | (7.40)<br>| (7.40)<br>| 52.59 | (35.24 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .81 <br><sup>9</sup><br>| .81 <br><sup>9</sup><br>| .15 <br><sup>9</sup><br>|
| 9/30/2021 | 66.67 | (.22)<br>| 23.77 | 23.55 |  | (1.27)<br>| (1.27)<br>| 88.95 | 35.60 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .84 <br><sup>9</sup><br>| .84 <br><sup>9</sup><br>| (.26 )<sup>9</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:**  | **Class 529-F-1:**  |
| 3/31/2026<sup>5,6</sup> <br>| 75.81 | .07 | .97 | 1.04 | (.62)<br>| (3.01)<br>| (3.63)<br>| 73.22 | 1.34 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .89 <br><sup>89</sup><br>| .89 <br><sup>89</sup><br>| .17 <br><sup>89</sup><br>|
| 9/30/2025 | 71.53 | .31 | 4.49 | 4.80 | (.52)<br>|  | (.52)<br>| 75.81 | 6.76 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .90 <br><sup>9</sup><br>| .90 <br><sup>9</sup><br>| .45 <br><sup>9</sup><br>|
| 9/30/2024 | 59.51 | .32 | 12.21 | 12.53 | (.51)<br>|  | (.51)<br>| 71.53 | 21.17 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .90 <br><sup>9</sup><br>| .90 <br><sup>9</sup><br>| .49 <br><sup>9</sup><br>|
| 9/30/2023 | 52.48 | .34 | 6.74 | 7.08 | (.05)<br>|  | (.05)<br>| 59.51 | 13.48 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .90 <br><sup>9</sup><br>| .90 <br><sup>9</sup><br>| .56 <br><sup>9</sup><br>|
| 9/30/2022 | 88.82 | .06 | (29.00)<br>| (28.94)<br>|  | (7.40)<br>| (7.40)<br>| 52.48 | (35.28 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .87 <br><sup>9</sup><br>| .87 <br><sup>9</sup><br>| .09 <br><sup>9</sup><br>|
| 9/30/2021 | 66.57 | (.29)<br>| 23.81 | 23.52 |  | (1.27)<br>| (1.27)<br>| 88.82 | 35.60 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .80 <br><sup>9</sup><br>| .80 <br><sup>9</sup><br>| (.42 )<sup>9</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:**  | **Class 529-F-2:**  |
| 3/31/2026<sup>5,6</sup> <br>| 75.46 | .11 | .98 | 1.09 | (.71)<br>| (3.01)<br>| (3.72)<br>| 72.83 | 1.41 <br><sup>7</sup><br>| 310 | .76 <br><sup>8</sup><br>| .76 <br><sup>8</sup><br>| .30 <br><sup>8</sup><br>|
| 9/30/2025 | 71.21 | .41 | 4.46 | 4.87 | (.62)<br>|  | (.62)<br>| 75.46 | 6.91 | 306 | .76 | .76 | .59 |
| 9/30/2024 | 59.25 | .41 | 12.16 | 12.57 | (.61)<br>|  | (.61)<br>| 71.21 | 21.32 | 278 | .77 | .77 | .63 |
| 9/30/2023 | 52.24 | .43 | 6.71 | 7.14 | (.13)<br>|  | (.13)<br>| 59.25 | 13.65 | 223 | .75 | .75 | .72 |
| 9/30/2022 | 88.37 | .14 | (28.87)<br>| (28.73)<br>|  | (7.40)<br>| (7.40)<br>| 52.24 | (35.22)<br>| 190 | .76 | .76 | .21 |
| 9/30/2021<sup>5,13</sup> <br>| 65.50 | (.16)<br>| 24.30 | 24.14 |  | (1.27)<br>| (1.27)<br>| 88.37 | 37.11 <br><sup>7</sup><br>| 274 | .80 <br><sup>8</sup><br>| .80 <br><sup>8</sup><br>| (.21 )<sup>8</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:**  | **Class 529-F-3:**  |
| 3/31/2026<sup>5,6</sup> <br>| 75.57 | .14 | .97 | 1.11 | (.75)<br>| (3.01)<br>| (3.76)<br>| 72.92 | 1.42 <br><sup>7</sup><br>| — <br><sup>10</sup><br>| .71 <br><sup>8</sup><br>| .71 <br><sup>8</sup><br>| .36 <br><sup>8</sup><br>|
| 9/30/2025 | 71.32 | .45 | 4.47 | 4.92 | (.67)<br>|  | (.67)<br>| 75.57 | 6.98 | — <br><sup>10</sup><br>| .70 | .70 | .64 |
| 9/30/2024 | 59.33 | .59 | 12.02 | 12.61 | (.62)<br>|  | (.62)<br>| 71.32 | 21.40 | — <br><sup>10</sup><br>| .71 | .71 | .89 |
| 9/30/2023 | 52.32 | .44 | 6.72 | 7.16 | (.15)<br>|  | (.15)<br>| 59.33 | 13.66 | — <br><sup>10</sup><br>| .73 | .73 | .74 |
| 9/30/2022 | 88.45 | .17 | (28.90)<br>| (28.73)<br>|  | (7.40)<br>| (7.40)<br>| 52.32 | (35.19)<br>| — <br><sup>10</sup><br>| .71 | .71 | .25 |
| 9/30/2021<sup>5,13</sup> <br>| 65.50 | (.09)<br>| 24.31 | 24.22 |  | (1.27)<br>| (1.27)<br>| 88.45 | 37.23 <br><sup>7</sup><br>| — <br><sup>10</sup><br>| .76 <br><sup>8</sup><br>| .71 <br><sup>8</sup><br>| (.12 )<sup>8</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:**  | **Class R-1:**  |
| 3/31/2026<sup>5,6</sup> <br>| 62.94 | (.22)<br>| .82 | .60 | (.12)<br>| (3.01)<br>| (3.13)<br>| 60.41 | .90 <br><sup>7</sup><br>| 39 | 1.75 <br><sup>8</sup><br>| 1.75 <br><sup>8</sup><br>| (.69 )<sup>8</sup><br>|
| 9/30/2025 | 59.51 | (.24)<br>| 3.74 | 3.50 | (.07)<br>|  | (.07)<br>| 62.94 | 5.88 | 40 | 1.75 | 1.75 | (.40)<br>|
| 9/30/2024 | 49.73 | (.19)<br>| 10.17 | 9.98 | (.20)<br>|  | (.20)<br>| 59.51 | 20.15 | 40 | 1.75 | 1.75 | (.35)<br>|
| 9/30/2023 | 44.18 | (.14)<br>| 5.69 | 5.55 |  |  |  | 49.73 | 12.52 | 26 | 1.75 | 1.75 | (.28)<br>|
| 9/30/2022 | 76.62 | (.45)<br>| (24.59)<br>| (25.04)<br>|  | (7.40)<br>| (7.40)<br>| 44.18 | (35.86)<br>| 24 | 1.74 | 1.74 | (.77)<br>|
| 9/30/2021 | 58.09 | (.85)<br>| 20.65 | 19.80 |  | (1.27)<br>| (1.27)<br>| 76.62 | 34.35 | 36 | 1.75 | 1.75 | (1.18)<br>|

---

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

---

| | |
|:---|:---|
| **41** | SMALLCAP World Fund |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Income (loss) from investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | | |
| <br>**Year ended**  | <br>**Net asset**<br> **value,**<br> **beginning**<br> **of year**<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,**<br> **end**<br> **of year**<br>| <br>**Total return**<sup>2,3</sup> | <br>**Net assets,**<br> **end of**<br> **year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>4</sup><br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>3,4</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss) to**<br> **average**<br> **net assets**<sup>3</sup><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:**  | **Class R-2:**  |
| 3/31/2026<sup>5,6</sup> <br>| $63.17 | $(.22)<br>| $.82 | $.60 | $(.10)<br>| $(3.01)<br>| $(3.11)<br>| $60.66 | .91 %<sup>7</sup><br>| $400 | 1.76 %<sup>8</sup><br>| 1.76 %<sup>8</sup><br>| (.69 )%<sup>8</sup><br>|
| 9/30/2025 | 59.69 | (.24)<br>| 3.76 | 3.52 | (.04)<br>|  | (.04)<br>| 63.17 | 5.86 | 429 | 1.75 | 1.75 | (.41)<br>|
| 9/30/2024 | 49.78 | (.20)<br>| 10.19 | 9.99 | (.08)<br>|  | (.08)<br>| 59.69 | 20.15 | 462 | 1.75 | 1.75 | (.36)<br>|
| 9/30/2023 | 44.23 | (.15)<br>| 5.70 | 5.55 |  |  |  | 49.78 | 12.50 | 428 | 1.76 | 1.76 | (.29)<br>|
| 9/30/2022 | 76.71 | (.48)<br>| (24.60)<br>| (25.08)<br>|  | (7.40)<br>| (7.40)<br>| 44.23 | (35.87)<br>| 412 | 1.76 | 1.76 | (.81)<br>|
| 9/30/2021 | 58.16 | (.85)<br>| 20.67 | 19.82 |  | (1.27)<br>| (1.27)<br>| 76.71 | 34.37 | 719 | 1.75 | 1.75 | (1.17)<br>|
| **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:**  | **Class R-2E:**  |
| 3/31/2026<sup>5,6</sup> <br>| 72.21 | (.14)<br>| .92 | .78 | (.23)<br>| (3.01)<br>| (3.24)<br>| 69.75 | 1.04 <br><sup>7</sup><br>| 34 | 1.46 <br><sup>8</sup><br>| 1.46 <br><sup>8</sup><br>| (.40 )<sup>8</sup><br>|
| 9/30/2025 | 68.16 | (.08)<br>| 4.29 | 4.21 | (.16)<br>|  | (.16)<br>| 72.21 | 6.18 | 36 | 1.45 | 1.45 | (.11)<br>|
| 9/30/2024 | 56.77 | (.04)<br>| 11.63 | 11.59 | (.20)<br>|  | (.20)<br>| 68.16 | 20.49 | 36 | 1.46 | 1.46 | (.06)<br>|
| 9/30/2023 | 50.29 | .01 | 6.47 | 6.48 |  |  |  | 56.77 | 12.85 | 31 | 1.46 | 1.46 | .01 |
| 9/30/2022 | 85.92 | (.34)<br>| (27.89)<br>| (28.23)<br>|  | (7.40)<br>| (7.40)<br>| 50.29 | (35.67)<br>| 27 | 1.46 | 1.46 | (.51)<br>|
| 9/30/2021 | 64.83 | (.71)<br>| 23.07 | 22.36 |  | (1.27)<br>| (1.27)<br>| 85.92 | 34.76 | 48 | 1.46 | 1.46 | (.88)<br>|
| **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:**  | **Class R-3:**  |
| 3/31/2026<sup>5,6</sup> <br>| 69.86 | (.08)<br>| .89 | .81 | (.34)<br>| (3.01)<br>| (3.35)<br>| 67.32 | 1.12 <br><sup>7</sup><br>| 650 | 1.31 <br><sup>8</sup><br>| 1.31 <br><sup>8</sup><br>| (.24 )<sup>8</sup><br>|
| 9/30/2025 | 65.96 | .03 | 4.14 | 4.17 | (.27)<br>|  | (.27)<br>| 69.86 | 6.35 | 680 | 1.30 | 1.30 | .04 |
| 9/30/2024 | 54.93 | .05 | 11.27 | 11.32 | (.29)<br>|  | (.29)<br>| 65.96 | 20.67 | 685 | 1.30 | 1.30 | .09 |
| 9/30/2023 | 48.59 | .09 | 6.25 | 6.34 |  |  |  | 54.93 | 13.03 | 611 | 1.31 | 1.31 | .16 |
| 9/30/2022 | 83.16 | (.23)<br>| (26.94)<br>| (27.17)<br>|  | (7.40)<br>| (7.40)<br>| 48.59 | (35.58)<br>| 587 | 1.31 | 1.31 | (.35)<br>|
| 9/30/2021 | 62.68 | (.57)<br>| 22.32 | 21.75 |  | (1.27)<br>| (1.27)<br>| 83.16 | 34.95 | 978 | 1.31 | 1.31 | (.73)<br>|
| **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:**  | **Class R-4:**  |
| 3/31/2026<sup>5,6</sup> <br>| 74.41 | .02 | .95 | .97 | (.52)<br>| (3.01)<br>| (3.53)<br>| 71.85 | 1.29 <br><sup>7</sup><br>| 533 | 1.01 <br><sup>8</sup><br>| 1.01 <br><sup>8</sup><br>| .06 <br><sup>8</sup><br>|
| 9/30/2025 | 70.21 | .23 | 4.42 | 4.65 | (.45)<br>|  | (.45)<br>| 74.41 | 6.67 | 558 | 1.00 | 1.00 | .33 |
| 9/30/2024 | 58.42 | .25 | 11.98 | 12.23 | (.44)<br>|  | (.44)<br>| 70.21 | 21.04 | 617 | 1.00 | 1.00 | .38 |
| 9/30/2023 | 51.52 | .27 | 6.63 | 6.90 |  |  |  | 58.42 | 13.35 | 585 | 1.01 | 1.01 | .45 |
| 9/30/2022 | 87.46 | (.04)<br>| (28.50)<br>| (28.54)<br>|  | (7.40)<br>| (7.40)<br>| 51.52 | (35.38)<br>| 583 | 1.01 | 1.01 | (.05)<br>|
| 9/30/2021 | 65.68 | (.35)<br>| 23.40 | 23.05 |  | (1.27)<br>| (1.27)<br>| 87.46 | 35.37 | 987 | 1.01 | 1.01 | (.43)<br>|
| **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:**  | **Class R-5E:**  |
| 3/31/2026<sup>5,6</sup> <br>| 75.97 | .10 | .99 | 1.09 | (.68)<br>| (3.01)<br>| (3.69)<br>| 73.37 | 1.38 <br><sup>7</sup><br>| 215 | .81 <br><sup>8</sup><br>| .81 <br><sup>8</sup><br>| .26 <br><sup>8</sup><br>|
| 9/30/2025 | 71.69 | .38 | 4.49 | 4.87 | (.59)<br>|  | (.59)<br>| 75.97 | 6.89 | 217 | .80 | .80 | .54 |
| 9/30/2024 | 59.64 | .39 | 12.23 | 12.62 | (.57)<br>|  | (.57)<br>| 71.69 | 21.29 | 205 | .81 | .81 | .59 |
| 9/30/2023 | 52.58 | .40 | 6.76 | 7.16 | (.10)<br>|  | (.10)<br>| 59.64 | 13.56 | 166 | .81 | .81 | .66 |
| 9/30/2022 | 88.94 | .11 | (29.07)<br>| (28.96)<br>|  | (7.40)<br>| (7.40)<br>| 52.58 | (35.24)<br>| 138 | .81 | .81 | .17 |
| 9/30/2021 | 66.64 | (.19)<br>| 23.76 | 23.57 |  | (1.27)<br>| (1.27)<br>| 88.94 | 35.63 | 188 | .80 | .80 | (.22)<br>|
| **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:**  | **Class R-5:**  |
| 3/31/2026<sup>5,6</sup> <br>| 79.04 | .14 | 1.03 | 1.17 | (.74)<br>| (3.01)<br>| (3.75)<br>| 76.46 | 1.43 <br><sup>7</sup><br>| 232 | .71 <br><sup>8</sup><br>| .71 <br><sup>8</sup><br>| .34 <br><sup>8</sup><br>|
| 9/30/2025 | 74.56 | .46 | 4.67 | 5.13 | (.65)<br>|  | (.65)<br>| 79.04 | 6.98 | 270 | .70 | .70 | .64 |
| 9/30/2024 | 61.99 | .46 | 12.74 | 13.20 | (.63)<br>|  | (.63)<br>| 74.56 | 21.41 | 296 | .71 | .71 | .68 |
| 9/30/2023 | 54.65 | .47 | 7.02 | 7.49 | (.15)<br>|  | (.15)<br>| 61.99 | 13.68 | 288 | .71 | .71 | .75 |
| 9/30/2022 | 92.04 | .18 | (30.17)<br>| (29.99)<br>|  | (7.40)<br>| (7.40)<br>| 54.65 | (35.18)<br>| 288 | .70 | .70 | .25 |
| 9/30/2021 | 68.86 | (.11)<br>| 24.56 | 24.45 |  | (1.27)<br>| (1.27)<br>| 92.04 | 35.77 | 510 | .71 | .71 | (.13)<br>|
| **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:**  | **Class R-6:**  |
| 3/31/2026<sup>5,6</sup> <br>| 78.19 | .16 | 1.01 | 1.17 | (.79)<br>| (3.01)<br>| (3.80)<br>| 75.56 | 1.45 <br><sup>7</sup><br>| 31409 | .66 <br><sup>8</sup><br>| .66 <br><sup>8</sup><br>| .41 <br><sup>8</sup><br>|
| 9/30/2025 | 73.76 | .51 | 4.61 | 5.12 | (.69)<br>|  | (.69)<br>| 78.19 | 7.04 | 31296 | .65 | .65 | .71 |
| 9/30/2024 | 61.34 | .50 | 12.58 | 13.08 | (.66)<br>|  | (.66)<br>| 73.76 | 21.46 | 26519 | .66 | .66 | .74 |
| 9/30/2023 | 54.08 | .50 | 6.95 | 7.45 | (.19)<br>|  | (.19)<br>| 61.34 | 13.76 | 20160 | .66 | .66 | .82 |
| 9/30/2022 | 91.12 | .23 | (29.87)<br>| (29.64)<br>|  | (7.40)<br>| (7.40)<br>| 54.08 | (35.15)<br>| 16261 | .65 | .65 | .33 |
| 9/30/2021 | 68.15 | (.06)<br>| 24.30 | 24.24 |  | (1.27)<br>| (1.27)<br>| 91.12 | 35.84 | 19437 | .66 | .66 | (.07)<br>|

---

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

---

| | |
|:---|:---|
| SMALLCAP World Fund | **42** |

---

------

Financial highlights (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months** <br>**ended** <br>**March 31,** <br>**2026**<sup>5,6,7,15</sup>  | **Year ended September 30,** | **Year ended September 30,** | **Year ended September 30,** | **Year ended September 30,** | **Year ended September 30,** |
|  | **Six months** <br>**ended** <br>**March 31,** <br>**2026**<sup>5,6,7,15</sup>  | **2025** | **2024** | **2023** | **2022** | **2021** |
| Portfolio turnover rate for all share classes<sup>14</sup> | &nbsp;&nbsp; 24<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 41<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 29<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 32<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30<br> %<br>|

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

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

<sup>3</sup> This column reflects the impact of certain waivers and/or reimbursements from CRMC and/or AFS, if any.

<sup>4</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>5</sup> Based on operations for a period that is less than a full year.

<sup>6</sup> Unaudited.

<sup>7</sup> Not annualized.

<sup>8</sup> Annualized.

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

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

<sup>11</sup> Amount less than $0.01.

<sup>12</sup> Amount less than 0.01%.

<sup>13</sup> Class 529-F-2 and 529-F-3 shares began investment operations on 10/30/2020.

<sup>14</sup> Rates do not include the fund's portfolio activity with respect to any Central Funds.

<sup>15</sup> Rates exclude in-kind transactions, if any.

Refer to the notes to financial statements.

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| | |
|:---|:---|
| **43** | SMALLCAP World Fund |

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Changes in and disagreements with accountants

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None

Matters submitted for shareholder vote

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**Results of special meeting of shareholders**

Held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

1,080,656,455

Total shares voting on November 25, 2025:

956,300,724 (88.5% of shares outstanding)

The proposal: To elect board members

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| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br> **of shares** <br> **voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br> **of shares** <br> **withheld**<br>|
| Gina F. Adams | 866422722 | 90.6% | 89878002 | 9.4% |
| Charles E. Andrews | 941863878 | 98.5% | 14436846 | 1.5% |
| Joseph J. Bonner | 942039005 | 98.5% | 14261719 | 1.5% |
| Michael C. Camuñez | 941621011 | 98.5% | 14679713 | 1.5% |
| Vanessa C. L. Chang | 941412405 | 98.4% | 14888319 | 1.6% |
| Cecilia V. Estolano | 941844122 | 98.5% | 14456602 | 1.5% |
| Bradford F. Freer | 942014241 | 98.5% | 14286483 | 1.5% |
| Yvonne L. Greenstreet | 942432609 | 98.5% | 13868115 | 1.5% |
| Martin E. Koehler | 942006173 | 98.5% | 14294551 | 1.5% |
| Sharon I. Meers | 942425870 | 98.5% | 13874854 | 1.5% |
| Pascal Millaire | 941838458 | 98.5% | 14462266 | 1.5% |
| William I. Miller | 942047379 | 98.5% | 14253345 | 1.5% |
| Anne-Marie Peterson  | 942413488 | 98.5% | 13887236 | 1.5% |
| Josette Sheeran  | 941642487 | 98.5% | 14658237 | 1.5% |

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Remuneration paid to directors, officers and others

------

Refer to the directors' 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.

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| | |
|:---|:---|
| SMALLCAP World Fund | **44** |

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

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#### ITEM 9 - Proxy Disclosures for Open-End Management Investment Companies
The information is included as part of the material filed under Item 7 of this Form under Matters submitted for shareholder vote.

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#### 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 directors' deferred compensation disclosure in the notes to financial statements.

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#### 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.

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#### 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.

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#### 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.

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#### 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.

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#### 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 directors 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 directors. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent director candidates to the full board of directors. 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.

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#### 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.

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#### 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.

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

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#### 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) and [906](cert906) 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.

**SMALLCAP World Fund, Inc.**

By /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: May 29, 2026

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/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: May 29, 2026

By /s/ Hong T. Le

Hong T. Le, Treasurer and

Principal Financial Officer

Date: May 29, 2026

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## 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

MICHAEL W. STOCKTON, Executive Vice President and Principal Executive Officer, and HONG T. LE, Treasurer and Principal Financial Officer of SMALLCAP World Fund, Inc. (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 March 31, 2026 (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

**SMALLCAP World Fund, Inc.**

<u>/s/ Michael W. Stockton</u>

Michael W. Stockton, Executive Vice President and Principal Executive Officer

Date: May 29, 2026

Principal Financial Officer

**SMALLCAP World Fund, Inc.**

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

Hong T. Le, Treasurer and Principal Financial Officer

Date: May 29, 2026

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

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## Ex-99.Cert

**CERTIFICATION**

**I, Michael W. Stockton, certify that:**

1. I have reviewed this report on Form N-CSR of **SMALLCAP World Fund, Inc.**;

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 directors (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: May 29, 2026

<u>/s/ Michael W. Stockton</u> Michael W. Stockton,

Executive Vice President and Principal Executive Officer

SMALLCAP World Fund, Inc.

**CERTIFICATION**

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

1. I have reviewed this report on Form N-CSR of **SMALLCAP World Fund, Inc.**;

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 directors (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: May 29, 2026

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

Treasurer and Principal Financial Officer

SMALLCAP World Fund, Inc.

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