# EDGAR Filing Document

**Accession Number:** 0000039473
**File Stem:** 0001193125-25-293282
**Filing Date:** 2025-11
**Character Count:** 131350
**Document Hash:** b940cac501423c4949125eb0fb853047
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-293282.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001193125-25-293282

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN FUNDS FUNDAMENTAL INVESTORS
- **CENTRAL INDEX KEY:** 0000039473

**ORGANIZATION NAME:**
- **EIN:** 221557722
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00032
- **FILM NUMBER:** 251511346

**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:** FUNDAMENTAL INVESTORS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### AMERICAN FUNDS FUNDAMENTAL INVESTORS (Series ID: S000009227)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000025050 | Class A       | ANCFX           |
| C000025051 | Class R-1     | RFNAX           |
| C000025052 | Class R-2     | RFNBX           |
| C000025053 | Class R-3     | RFNCX           |
| C000025054 | Class R-4     | RFNEX           |
| C000025055 | Class R-5     | RFNFX           |
| C000025057 | Class C       | AFICX           |
| C000025058 | Class F-1     | AFIFX           |
| C000025059 | Class 529-A   | CFNAX           |
| C000025061 | Class 529-C   | CFNCX           |
| C000025062 | Class 529-E   | CFNEX           |
| C000025063 | Class 529-F-1 | CFNFX           |
| C000068558 | Class F-2     | FINFX           |
| C000077853 | Class R-6     | RFNGX           |
| C000148457 | Class R-2E    | RFEBX           |
| C000164826 | Class R-5E    | RFNHX           |
| C000179985 | Class F-3     | FUNFX           |
| C000189470 | Class 529-T   | TIIIX           |
| C000189471 | Class T       | TFFFX           |
| C000224623 | Class 529-F-2 | FFXFX           |
| C000224624 | Class 529-F-3 | FEEFX           |

## Nport-Ex

![](img8ae927081.jpg)

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

**Fundamental Investors**<sup>®</sup>

Investment portfolio

September 30, 2025

**unaudited**

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

---

| | | |
|:---|:---|:---|
| Common stocks 97.88%<br> **Information technology 30.79%**<br>| Shares | Value<br> (000)<br>|
| Broadcom, Inc.  | 36303515 | $11976893 |
| Microsoft Corp.  | 18487542 | 9575622 |
| NVIDIA Corp.  | 34255261 | 6391347 |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 68866000 | 2948689 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 5607892 | 1566228 |
| Micron Technology, Inc.  | 21943161 | 3671530 |
| SK hynix, Inc.  | 8891538 | 2202209 |
| KLA Corp.  | 1401651 | 1511821 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 10088558 | 1499261 |
| Strategy, Inc., Class A <sup>(a)</sup>  | 4255592 | 1371194 |
| Apple, Inc.  | 5153792 | 1312310 |
| Salesforce, Inc.  | 3660155 | 867457 |
| ASML Holding NV (ADR)  | 463013 | 448238 |
| ASML Holding NV  | 405236 | 393983 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 2935685 | 629969 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 702409 | 504709 |
| Motorola Solutions, Inc.  | 1043917 | 477373 |
| Keysight Technologies, Inc. <sup>(a)</sup>  | 1968152 | 344269 |
| Applied Materials, Inc.  | 1290424 | 264201 |
| International Business Machines Corp.  | 800000 | 225728 |
| Accenture PLC, Class A  | 841684 | 207559 |
| Intel Corp. <sup>(a)</sup>  | 5095873 | 170966 |
| Procore Technologies, Inc. <sup>(a)</sup>  | 1900000 | 138548 |
| Adobe, Inc. <sup>(a)</sup>  | 350731 | 123720 |
| Gartner, Inc. <sup>(a)</sup>  | 466500 | 122629 |
| CDW Corp.  | 597872 | 95229 |
| Crane NXT, Co.  | 1067053 | 71567 |
|  |  | 49113249 |
| **Industrials 14.15%** |  |  |
| TransDigm Group, Inc.  | 2775111 | 3657652 |
| General Aerospace Co.  | 6331698 | 1904701 |
| United Rentals, Inc.  | 1905464 | 1819070 |
| RTX Corp.  | 8110188 | 1357078 |
| Rolls-Royce Holdings PLC  | 79102432 | 1265980 |
| Ryanair Holdings PLC (ADR)  | 16691489 | 1005161 |
| Ingersoll-Rand, Inc.  | 11970299 | 988986 |
| ITT, Inc. <sup>(b)</sup>  | 5445934 | 973515 |
| Boeing Co. (The) <sup>(a)</sup>  | 4379223 | 945168 |
| GE Vernova, Inc.  | 1408802 | 866272 |
| Carrier Global Corp.  | 12632696 | 754172 |
| Union Pacific Corp.  | 2924749 | 691323 |
| Quanta Services, Inc.  | 1580362 | 654934 |
| Northrop Grumman Corp.  | 902196 | 549726 |
| Airbus SE, non-registered shares  | 2064429 | 478447 |
| Regal Rexnord Corp.  | 2973475 | 426515 |

---

Fundamental Investors — Page 1 of 9

------

**unaudited**

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| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Industrials (continued)**<br>| Shares | Value<br> (000)<br>|
| United Airlines Holdings, Inc. <sup>(a)</sup>  | 4300493 | $414998 |
| XPO, Inc. <sup>(a)</sup>  | 2658613 | 343679 |
| Waste Connections, Inc.  | 1806463 | 317576 |
| Equifax, Inc.  | 1225697 | 314428 |
| DSV A/S  | 1553649 | 308992 |
| Lifco AB, Class B  | 8968067 | 302733 |
| Schneider Electric SE  | 998223 | 278459 |
| FTAI Aviation, Ltd.  | 1538416 | 256700 |
| Dayforce, Inc. <sup>(a)</sup>  | 3421913 | 235736 |
| Loar Holdings, Inc. <sup>(a)</sup>  | 2870001 | 229600 |
| Comfort Systems USA, Inc.  | 274004 | 226103 |
| Paychex, Inc.  | 1657830 | 210147 |
| Deere & Co.  | 398581 | 182255 |
| 3M Co.  | 974517 | 151226 |
| Builders FirstSource, Inc. <sup>(a)</sup>  | 1177908 | 142821 |
| FedEx Corp.  | 483033 | 113904 |
| Crane Co.  | 537025 | 98888 |
| SS&C Technologies Holdings, Inc.  | 1086752 | 96460 |
| Honeywell International, Inc.  | 31000 | 6525 |
|  |  | 22569930 |
| **Financials 10.79%** |  |  |
| Visa, Inc., Class A  | 5799185 | 1979726 |
| Apollo Asset Management, Inc.  | 10482616 | 1397018 |
| JPMorgan Chase & Co.  | 3783274 | 1193358 |
| Brookfield Corp., Class A  | 11654337 | 799254 |
| Mastercard, Inc., Class A  | 1353323 | 769784 |
| Fiserv, Inc. <sup>(a)</sup>  | 5322533 | 686234 |
| Aon PLC, Class A  | 1710242 | 609838 |
| Progressive Corp.  | 2437627 | 601972 |
| Ares Management Corp., Class A  | 3668676 | 586585 |
| Arthur J. Gallagher & Co.  | 1889246 | 585175 |
| Capital One Financial Corp.  | 2546871 | 541414 |
| Truist Financial Corp.  | 11553682 | 528234 |
| Blue Owl Capital, Inc., Class A  | 30939902 | 523813 |
| Citigroup, Inc.  | 4944660 | 501883 |
| Intercontinental Exchange, Inc.  | 2977647 | 501674 |
| Marsh & McLennan Cos., Inc.  | 2452444 | 494241 |
| Goldman Sachs Group, Inc.  | 612924 | 488102 |
| KKR & Co., Inc.  | 3669757 | 476885 |
| OneMain Holdings, Inc. <sup>(b)</sup>  | 7759550 | 438104 |
| RenaissanceRe Holdings, Ltd.  | 1446042 | 367193 |
| Bank of America Corp.  | 6588827 | 339918 |
| BlackRock, Inc.  | 272459 | 317652 |
| HDFC Bank, Ltd.  | 16600000 | 177800 |
| HDFC Bank, Ltd. (ADR)  | 3949446 | 134913 |
| Synchrony Financial  | 4178834 | 296906 |
| Citizens Financial Group, Inc.  | 4588119 | 243904 |
| Blackstone, Inc.  | 1366434 | 233455 |
| Wells Fargo & Co.  | 2600858 | 218004 |
| XP, Inc., Class A  | 10327142 | 194047 |
| Sampo Oyj, Class A  | 14385337 | 165142 |
| Brown & Brown, Inc.  | 1745217 | 163684 |
| CaixaBank SA, non-registered shares  | 15038322 | 157948 |
| UniCredit SpA  | 1889414 | 143012 |

---

Fundamental Investors — Page 2 of 9

------

**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Financials (continued)**<br>| Shares | Value<br> (000)<br>|
| Morgan Stanley  | 739797 | $117598 |
| Arch Capital Group, Ltd.  | 1125354 | 102103 |
| Charles Schwab Corp. (The)  | 611905 | 58419 |
| Fidelity National Information Services, Inc.  | 575155 | 37926 |
| Equitable Holdings, Inc.  | 391980 | 19905 |
| Checkout Payments Group, Ltd., Class B <sup>(c)(d)</sup>  | 159760 | 14747 |
|  |  | 17207570 |
| **Consumer discretionary 9.49%** |  |  |
| Amazon.com, Inc. <sup>(a)</sup>  | 17171483 | 3770343 |
| Royal Caribbean Cruises, Ltd.  | 4573268 | 1479818 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 551488 | 1288794 |
| Starbucks Corp.  | 11765246 | 995340 |
| Coupang, Inc., Class A <sup>(a)</sup>  | 29790882 | 959266 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 23312341 | 913611 |
| D.R. Horton, Inc.  | 4832017 | 818882 |
| Restaurant Brands International, Inc.  | 11256257 | 721976 |
| Booking Holdings, Inc.  | 118971 | 642357 |
| Wynn Resorts, Ltd.  | 3934505 | 504679 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 1325139 | 336585 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(a)</sup>  | 12535390 | 308747 |
| Burlington Stores, Inc. <sup>(a)</sup>  | 1178941 | 300040 |
| Hilton Worldwide Holdings, Inc.  | 1057769 | 274428 |
| Evolution AB  | 3089523 | 253807 |
| Compagnie Financiere Richemont SA, Class A  | 1121143 | 213511 |
| Amadeus IT Group SA, Class A, non-registered shares  | 2446604 | 193889 |
| Home Depot, Inc.  | 434090 | 175889 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 281193 | 171835 |
| Caesars Entertainment, Inc. <sup>(a)</sup>  | 5987659 | 161816 |
| Carvana Co., Class A <sup>(a)</sup>  | 395086 | 149042 |
| B&M European Value Retail SA  | 40039390 | 140923 |
| Vail Resorts, Inc.  | 851717 | 127391 |
| NIKE, Inc., Class B  | 1526147 | 106418 |
| YUM! Brands, Inc.  | 349282 | 53091 |
| Tractor Supply Co.  | 923150 | 52500 |
| Ferrari NV (EUR denominated)  | 58274 | 28160 |
|  |  | 15143138 |
| **Communication services 8.50%** |  |  |
| Alphabet, Inc., Class C  | 20988265 | 5111692 |
| Alphabet, Inc., Class A  | 4744074 | 1153284 |
| Meta Platforms, Inc., Class A  | 4882950 | 3585941 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 8455224 | 1171218 |
| Publicis Groupe SA  | 7915258 | 759045 |
| Netflix, Inc. <sup>(a)</sup>  | 509831 | 611247 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 1388158 | 381889 |
| T-Mobile US, Inc.  | 1397664 | 334573 |
| Electronic Arts, Inc.  | 1220412 | 246157 |
| Comcast Corp., Class A  | 4452974 | 139912 |
| Nintendo Co., Ltd.  | 675300 | 58472 |
|  |  | 13553430 |

---

Fundamental Investors — Page 3 of 9

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**unaudited**

---

| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Consumer staples 7.98%**<br>| Shares | Value<br> (000)<br>|
| Philip Morris International, Inc.  | 35422408 | $5745515 |
| British American Tobacco PLC  | 50320365 | 2671166 |
| British American Tobacco PLC (ADR)  | 548806 | 29131 |
| Performance Food Group Co. <sup>(a)(b)</sup>  | 10014566 | 1041915 |
| Nestle SA  | 8996704 | 825814 |
| Bunge Global SA  | 4549819 | 369673 |
| Mondelez International, Inc., Class A  | 4878015 | 304730 |
| Imperial Brands PLC  | 6340287 | 269284 |
| Keurig Dr Pepper, Inc.  | 10533527 | 268710 |
| Church & Dwight Co., Inc.  | 2982573 | 261363 |
| Altria Group, Inc.  | 3707774 | 244935 |
| Estee Lauder Cos., Inc. (The), Class A  | 2000000 | 176240 |
| Dollar Tree Stores, Inc. <sup>(a)</sup>  | 1790125 | 168934 |
| US Foods Holding Corp. <sup>(a)</sup>  | 1800000 | 137916 |
| Procter & Gamble Co.  | 861292 | 132337 |
| Danone SA  | 696676 | 60658 |
| Dollar General Corp.  | 133700 | 13818 |
|  |  | 12722139 |
| **Health care 6.86%** |  |  |
| Eli Lilly and Co.  | 2479028 | 1891498 |
| UnitedHealth Group, Inc.  | 3907848 | 1349380 |
| Amgen, Inc.  | 3868125 | 1091585 |
| Thermo Fisher Scientific, Inc.  | 1610474 | 781112 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 1604154 | 731494 |
| AstraZeneca PLC  | 4455638 | 670069 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 1697771 | 664915 |
| Abbott Laboratories  | 4621148 | 618957 |
| CVS Health Corp.  | 7612425 | 573901 |
| Jazz Pharmaceuticals PLC <sup>(a)</sup>  | 2000000 | 263600 |
| Molina Healthcare, Inc. <sup>(a)</sup>  | 1286696 | 246222 |
| EssilorLuxottica SA  | 752074 | 243700 |
| Danaher Corp.  | 1106415 | 219358 |
| Bristol-Myers Squibb Co.  | 4687834 | 211421 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 164015 | 201346 |
| Novo Nordisk AS, Class B  | 3439493 | 186444 |
| Zimmer Biomet Holdings, Inc.  | 1853722 | 182592 |
| Elevance Health, Inc.  | 391000 | 126340 |
| Boston Scientific Corp. <sup>(a)</sup>  | 1161774 | 113424 |
| Illumina, Inc. <sup>(a)</sup>  | 1174725 | 111564 |
| Rede D'Or Sao Luiz SA  | 13701880 | 108333 |
| Humana, Inc.  | 400921 | 104308 |
| Cooper Cos., Inc. <sup>(a)</sup>  | 1354585 | 92870 |
| McKesson Corp.  | 80706 | 62349 |
| Regeneron Pharmaceuticals, Inc.  | 90650 | 50970 |
| AbbVie, Inc.  | 186739 | 43237 |
|  |  | 10940989 |
| **Materials 2.91%** |  |  |
| Grupo Mexico, SAB de CV, Series B  | 106915100 | 932453 |
| Wheaton Precious Metals Corp.  | 6796772 | 760151 |
| Barrick Mining Corp.  | 19690289 | 645251 |
| Linde PLC  | 919690 | 436853 |
| Glencore PLC  | 89499148 | 411175 |
| Royal Gold, Inc.  | 1633190 | 327585 |

---

Fundamental Investors — Page 4 of 9

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**unaudited**

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| | | |
|:---|:---|:---|
| Common stocks (continued)<br> **Materials (continued)**<br>| Shares | Value<br> (000)<br>|
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 12386452 | $280179 |
| Lundin Mining Corp.  | 17950710 | 267771 |
| Air Products and Chemicals, Inc.  | 728998 | 198812 |
| LyondellBasell Industries NV  | 4020959 | 197188 |
| Nucor Corp.  | 1321823 | 179015 |
|  |  | 4636433 |
| **Utilities 2.62%** |  |  |
| Constellation Energy Corp.  | 3548255 | 1167624 |
| FirstEnergy Corp.  | 20878882 | 956670 |
| Southern Co. (The)  | 7250825 | 687161 |
| CenterPoint Energy, Inc.  | 12226700 | 474396 |
| Brookfield Infrastructure Partners, LP  | 6980868 | 230037 |
| NiSource Inc.  | 4709008 | 203900 |
| Vistra Corp.  | 835001 | 163593 |
| Sempra  | 1511144 | 135973 |
| PG&E Corp.  | 8587038 | 129493 |
| Atmos Energy Corp.  | 200766 | 34281 |
|  |  | 4183128 |
| **Energy 2.43%** |  |  |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 35568297 | 1137306 |
| ConocoPhillips  | 7667337 | 725254 |
| EOG Resources, Inc.  | 4473986 | 501623 |
| Cenovus Energy, Inc. (CAD denominated) <sup>(e)</sup>  | 24838181 | 421733 |
| EQT Corp.  | 5701653 | 310341 |
| TotalEnergies SE  | 4267953 | 259208 |
| Baker Hughes Co., Class A  | 4533330 | 220864 |
| Schlumberger NV  | 3579957 | 123043 |
| Viper Energy, Inc., Class A  | 2519367 | 96290 |
| Exxon Mobil Corp.  | 644377 | 72654 |
|  |  | 3868316 |
| **Real estate 1.36%** |  |  |
| Welltower, Inc. REIT  | 6585598 | 1173158 |
| Extra Space Storage, Inc. REIT  | 2453180 | 345751 |
| Rexford Industrial Realty, Inc. REIT  | 5802340 | 238534 |
| Mid-America Apartment Communities, Inc. REIT  | 1226670 | 171403 |
| Alexandria Real Estate Equities, Inc. REIT  | 1980929 | 165091 |
| VICI Properties, Inc. REIT  | 2389900 | 77935 |
|  |  | 2171872 |
| **Total common stocks** (cost: $74,375,615,000) |  | 156110194 |
| Preferred securities 0.37%<br> **Information technology 0.37%**<br>|  |  |
| Strategy, Inc., 9.00% perpetual convertible preferred shares  | 2435100 | 236351 |
| Strategy, Inc., Series A, junior subordinated perpetual bonds noncumulative preferred shares, 10.00%  | 2666900 | 209912 |
| Strategy, Inc., perpetual bonds cumulative preferred shares, 10.00% <sup>(e)</sup>  | 1296300 | 145185 |
| **Total preferred securities** (cost: $537,244,000) |  | 591448 |

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Fundamental Investors — Page 5 of 9

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**unaudited**

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| | | |
|:---|:---|:---|
| Convertible stocks 0.18%<br> **Information technology 0.18%**<br>| Shares | Value<br> (000)<br>|
| Strategy, Inc., 8.00% perpetual convertible preferred shares  | 2029615 | $186115 |
| Microchip Technology, Inc., Series A, cumulative convertible preferred depositary shares, 7.50% 3/15/2028 <sup>(e)</sup>  | 1600000 | 94448 |
| **Total convertible stocks** (cost: $235,617,000) |  | 280563 |
| Short-term securities 1.74%<br> **Money market investments 1.73%**<br>|  |  |
| Capital Group Central Cash Fund 4.17% <sup>(b)(f)</sup>  | 27660784 | 2766079 |
| **Money market investments purchased with collateral from securities on loan 0.01%** |  |  |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 4.05% <sup>(f)(g)</sup>  | 16031304 | 16031 |
| **Total short-term securities** (cost: $2,782,005,000) |  | 2782110 |
| **Total investment securities 100.17%** (cost: $77,930,481,000) |  | 159764315 |
| **Other assets less liabilities (0.17)%** |  | (276013)<br>|
| **Net assets 100.00%** |  | $159488302 |

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>9/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** | **Common stocks 1.54%** |
| **Industrials 0.61%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ITT, Inc.  | $793175 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $17047 | &nbsp;&nbsp; $6362 | &nbsp;&nbsp; $191025 | &nbsp;&nbsp; $973515 | &nbsp;&nbsp; $5801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TransDigm Group, Inc. <sup>(h)</sup> <br>| 3580312 | &nbsp;&nbsp; — | &nbsp;&nbsp; 71119 | &nbsp;&nbsp; 17191 | &nbsp;&nbsp; 131268 | &nbsp;&nbsp; — | &nbsp;&nbsp; 249760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Regal Rexnord Corp. <sup>(h)</sup> <br>| 630581 | &nbsp;&nbsp; — | &nbsp;&nbsp; 127803 | &nbsp;&nbsp; (46509)<br>| &nbsp;&nbsp; (29754)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 3353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dayforce, Inc. <sup>(a)(h)</sup> <br>| 698204 | &nbsp;&nbsp; — | &nbsp;&nbsp; 425538 | &nbsp;&nbsp; (41430)<br>| &nbsp;&nbsp; 4500 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 973515 |  |
| **Financials 0.28%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OneMain Holdings, Inc.  | 405614 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1106 | &nbsp;&nbsp; 133 | &nbsp;&nbsp; 33463 | &nbsp;&nbsp; 438104 | &nbsp;&nbsp; 24224 |
| **Consumer staples 0.65%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group Co. <sup>(a)</sup> <br>| 849052 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2244 | &nbsp;&nbsp; 776 | &nbsp;&nbsp; 194331 | &nbsp;&nbsp; 1041915 | &nbsp;&nbsp; — |
| **Health care 0.00%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; agilon health, Inc. <sup>(a)(i)</sup> <br>| 42510 | &nbsp;&nbsp; 20545 | &nbsp;&nbsp; 25422 | &nbsp;&nbsp; (365866)<br>| &nbsp;&nbsp; 328233 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **Total common stocks** |  |  |  |  |  | &nbsp;&nbsp; 2453534 |  |
| **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** | **Short-term securities 1.73%** |
| **Money market investments 1.73%** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Group Central Cash Fund 4.17% <sup>(f)</sup> <br>| 2320593 | &nbsp;&nbsp; 10687470 | &nbsp;&nbsp; 10241370 | &nbsp;&nbsp; (262)<br>| &nbsp;&nbsp; (352)<br>| &nbsp;&nbsp; 2766079 | &nbsp;&nbsp; 133834 |
| **Total 3.27%** |  |  |  | &nbsp;&nbsp; $(429605)<br>| &nbsp;&nbsp; $852714 | &nbsp;&nbsp; $5219613 | &nbsp;&nbsp; $416972 |

---

Restricted securities <sup>(d)</sup>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Checkout Payments Group, Ltd., Class B <sup>(c)</sup> <br>| 1/11/2022 | $49613 | $14747 | 0.01<br> %<br>|

---

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

Fundamental Investors — Page 6 of 9

------

**unaudited**

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

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

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

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

<sup>(d)</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>(e)</sup> All or a portion of this security was on loan. 

<sup>(f)</sup> Rate represents the seven-day yield at 9/30/2025.

<sup>(g)</sup> Security purchased with cash collateral from securities on loan. 

<sup>(h)</sup> Affiliated issuer during the reporting period but no longer an affiliate at 9/30/2025. Refer to the investment portfolio for the security value at 9/30/2025.

<sup>(i)</sup> Affiliated issuer during the reporting period but no longer held at 9/30/2025.

Valuation disclosures

------

Capital Research and Management Company ("CRMC"), the fund's investment adviser, values the fund's investments at fair value as defined by accounting principles generally accepted in the United States of America. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. Security transactions are recorded by the fund as of the date the trades are executed with brokers. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.

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

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

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

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| &nbsp;&nbsp;&nbsp;&nbsp; All | &nbsp;&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 <br> models such as yield measures calculated using factors such as cash flows, <br> financial or collateral performance and other reference data (collectively <br> referred to as "standard inputs")<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| &nbsp;&nbsp;&nbsp;&nbsp; Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage-backed; asset-backed obligations | &nbsp;&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>|

---

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.

Fundamental Investors — Page 7 of 9

------

**unaudited**

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

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

**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 September 30, 2025, were as follows (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Investment securities | Investment securities | Investment securities | Investment securities |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information technology | $49113249 | $— | $— | $49113249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 22569930 |  |  | 22569930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 17192823 |  | 14747 | 17207570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer discretionary | 15143138 |  |  | 15143138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication services | 13553430 |  |  | 13553430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer staples | 12722139 |  |  | 12722139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health care | 10940989 |  |  | 10940989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 4636433 |  |  | 4636433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 4183128 |  |  | 4183128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 3868316 |  |  | 3868316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real estate | 2171872 |  |  | 2171872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred securities  | 591448 |  |  | 591448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible stocks  | 280563 |  |  | 280563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term securities  | 2782110 |  |  | 2782110 |
| Total | $159749568 | $— | $14747 | $159764315 |

---

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| EUR = Euros |
| REIT = Real Estate Investment Trust |

---

Fundamental Investors — Page 8 of 9

------

**unaudited**

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

**Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.**

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Capital Client Group, Inc., member FINRA.© 2025 Capital Group. All rights reserved.

MFGEFP3-010-1125

Fundamental Investors — Page 9 of 9

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** American Funds Fundamental Investors

- **b. Investment Company Act file number:** 811-00032

- **c. CIK number of Registrant:** 0000039473

- **d. LEI of Registrant:** RCVUC3QKUPM8R6R24U95

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 6455 Irvine Center Drive

  - **City:** Irvine

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 92618-4518

  - **Telephone number:** 9499755000

**Item A.2. Information about the Series.**

- **a. Name of Series:** American Funds Fundamental Investors

- **b. EDGAR series identifier (if any):** S000009227

- **c. LEI of Series:** RCVUC3QKUPM8R6R24U95

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $160232765969.92

**Total Liabilities:** $529916341.99

**Net Assets:** $159702849627.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025050 | 1.80%                | 1.00%                | 3.68%                |
| Class ID C000025051 | 1.73%                | 0.94%                | 3.59%                |
| Class ID C000025052 | 1.72%                | 0.94%                | 3.59%                |
| Class ID C000025053 | 1.76%                | 0.98%                | 3.64%                |
| Class ID C000025054 | 1.78%                | 1.00%                | 3.67%                |
| Class ID C000025055 | 1.82%                | 1.01%                | 3.69%                |
| Class ID C000025057 | 1.73%                | 0.93%                | 3.61%                |
| Class ID C000025058 | 1.79%                | 1.00%                | 3.66%                |
| Class ID C000025059 | 1.80%                | 1.00%                | 3.66%                |
| Class ID C000025061 | 1.72%                | 0.94%                | 3.59%                |
| Class ID C000025062 | 1.77%                | 0.98%                | 3.63%                |
| Class ID C000025063 | 1.80%                | 1.01%                | 3.68%                |
| Class ID C000068558 | 1.81%                | 1.01%                | 3.68%                |
| Class ID C000077853 | 1.82%                | 1.02%                | 3.70%                |
| Class ID C000148457 | 1.75%                | 0.95%                | 3.62%                |
| Class ID C000164826 | 1.81%                | 1.02%                | 3.67%                |
| Class ID C000179985 | 1.82%                | 1.03%                | 3.68%                |
| Class ID C000189470 | 1.81%                | 1.02%                | 3.69%                |
| Class ID C000189471 | 1.81%                | 1.03%                | 3.69%                |
| Class ID C000224623 | 1.81%                | 1.02%                | 3.69%                |
| Class ID C000224624 | 1.82%                | 1.02%                | 3.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $311496263.61            | $2390092986.90                             |
| Month 2  | $762839643.37            | $705761011.06                              |
| Month 3  | $512072951.00            | $4816880783.99                             |

### Schedule of Portfolio Investments

| Name                                                                     | Title                                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)     | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CONSTELLATION ENERGY CORP                                                | CONSTELLATION ENERGY CORP                                                                    | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |   3548255 | NS      | $1167624272.85  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP INC                                             | CITIZENS FINANCIAL GROUP INC                                                                 | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |   4588119 | NS      | $243904406.04   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE FINANCIERE RICHEMONT SA                                        | COMPAGNIE FINANCIERE RICHEMONT SA CL A                                                       | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               | CORP              | CH        |   1121143 | NS      | $213510808.12   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CHURCH & DWIGHT CO INC                                                   | CHURCH & DWIGHT CO INC                                                                       | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |   2982573 | NS      | $261362871.99   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARTER COMMUNICATIONS INC                                               | CHARTER COMMUNICATIONS INC CL A                                                              | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |   1388158 | NS      | $381889206.59   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP                                                             | COMCAST CORP CL A                                                                            | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   4452974 | NS      | $139912443.08   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL INC                                               | CHIPOTLE MEXICAN GRILL INC                                                                   | CUSIP: 169656105<br>LEI: 5493007DZOMUBASCBX97 | Long             | EC               | CORP              | US        |  22373593 | NS      | $876821109.67   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY INC                                                   | CENTERPOINT ENERGY INC                                                                       | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   9780396 | NS      | $379479364.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LTD                                           | CANADIAN NATURAL RESOURCES LTD                                                               | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |  35568297 | NS      | $1137306327.87  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP                                               | CAPITAL ONE FINANCIAL CORP                                                                   | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |   2546871 | NS      | $541413837.18   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COOPER COS INC/THE                                                       | COOPER COS INC/THE                                                                           | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |   1354585 | NS      | $92870347.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                                                           | CONOCOPHILLIPS                                                                               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   7667337 | NS      | $725253406.83   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COUPANG INC                                                              | COUPANG INC CL A                                                                             | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |  29790882 | NS      | $959266400.40   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE CO                                                                 | CRANE CO                                                                                     | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |    537025 | NS      | $98887783.50    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UNICREDIT SPA                                                            | UNICREDIT SPA                                                                                | CUSIP: N/A<br>LEI: 549300TRUWO2CD2G5692       | Long             | EC               | CORP              | IT        |   1889414 | NS      | $143011641.81   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                                                           | SALESFORCE INC                                                                               | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |   3660155 | NS      | $867456735.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CENOVUS ENERGY INC                                                       | CENOVUS ENERGY INC                                                                           | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |  24838181 | NS      | $421733288.09   | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| CARVANA CO                                                               | CARVANA CO CL A                                                                              | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |    395086 | NS      | $149042242.64   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                                                          | CVS HEALTH CORP                                                                              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   7612425 | NS      | $573900720.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE NXT CO                                                             | CRANE NXT CO                                                                                 | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |   1067053 | NS      | $71567244.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CAESARS ENTERTAINMENT INC                                                | CAESARS ENTERTAINMENT INC                                                                    | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |   5987659 | NS      | $161816484.48   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DANONE SA                                                                | DANONE SA                                                                                    | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               | CORP              | FR        |    696676 | NS      | $60657871.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DAYFORCE INC                                                             | DAYFORCE INC (USD)                                                                           | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Long             | EC               | CORP              | US        |   3421913 | NS      | $235735586.57   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTENERGY CORP                                                         | FIRSTENERGY CORP                                                                             | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |  20878882 | NS      | $956670373.24   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                                                               | FISERV INC                                                                                   | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |   5322533 | NS      | $686234179.69   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES INC                               | FIDELITY NATIONAL INFORMATION SERVICES INC                                                   | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |    575155 | NS      | $37925720.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA INC                                                  | COMFORT SYSTEMS USA INC                                                                      | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |    274004 | NS      | $226102620.72   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| REGAL REXNORD CORP                                                       | REGAL REXNORD CORP                                                                           | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |   2973475 | NS      | $426515254.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX CORP                                                                 | RTX CORP                                                                                     | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |   8110188 | NS      | $1357077758.04  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| RYANAIR HOLDINGS PLC                                                     | RYANAIR HOLDINGS PLC ADR                                                                     | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |  16691489 | NS      | $1005161467.58  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMPO OYJ                                                                | SAMPO OYJ CL A                                                                               | CUSIP: N/A<br>LEI: 743700UF3RL386WIDA22       | Long             | EC               | CORP              | FI        |  14385337 | NS      | $165141667.91   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| STARBUCKS CORP                                                           | STARBUCKS CORP                                                                               | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |  11765246 | NS      | $995339811.60   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHNEIDER ELECTRIC SE                                                    | SCHNEIDER ELECTRIC SE                                                                        | CUSIP: N/A<br>LEI: 969500A1YF1XUYYXS284       | Long             | EC               | CORP              | FR        |    998223 | NS      | $278458578.48   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP/THE                                                  | CHARLES SCHWAB CORP/THE                                                                      | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    611905 | NS      | $58418570.35    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC                                                              | SHOPIFY INC CL A                                                                             | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |  10088558 | NS      | $1499260604.38  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER NV                                                          | SLB LTD                                                                                      | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |   3579957 | NS      | $123043122.09   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO/THE                                                          | SOUTHERN CO/THE                                                                              | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   7250825 | NS      | $687160685.25   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                                                                   | SEMPRA                                                                                       | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   1511144 | NS      | $135972737.12   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C TECHNOLOGIES HOLDINGS INC                                           | SS&C TECHNOLOGIES HOLDINGS INC                                                               | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |   1086752 | NS      | $96460107.52    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                                             | STRATEGY INC CL A PFD FRN PRP                                                                | CUSIP: 594972853<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   2435100 | NS      | $236350806.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                                             | STRATEGY INC CL A JUNIOR  PFD 10.00% PRP                                                     | CUSIP: 594972861<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   2666900 | NS      | $209911699.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                                             | STRATEGY INC PFD 10.00% PRP                                                                  | CUSIP: 594972879<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   1296300 | NS      | $145185600.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| STRATEGY INC                                                             | STRATEGY INC CV PFD 8.00% PRP                                                                | CUSIP: 594972887<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |   2029615 | NS      | $186115695.50   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                      | SYNCHRONY FINANCIAL                                                                          | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |   4178834 | NS      | $296906155.70   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM GROUP INC                                                      | TRANSDIGM GROUP INC                                                                          | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2775111 | NS      | $3657651800.22  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP                                                    | TRUIST FINANCIAL CORP                                                                        | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |  11553682 | NS      | $528234341.04   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC                                             | THERMO FISHER SCIENTIFIC INC                                                                 | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |   1610474 | NS      | $781112099.48   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                                                          | T-MOBILE US INC                                                                              | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |   1397664 | NS      | $334572808.32   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY CO                                                        | TRACTOR SUPPLY CO                                                                            | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |    923150 | NS      | $52499540.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD                                | TAIWAN SEMICONDUCTOR MFG CO ADR                                                              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   5607892 | NS      | $1566228156.68  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT INC                                                                  | ITT INC                                                                                      | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |   5445934 | NS      | $973515161.84   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PLC                                                 | JAZZ PHARMACEUTICALS PLC                                                                     | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |   2000000 | NS      | $263600000.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO                                                      | JPMORGAN CHASE & CO                                                                          | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |   3783274 | NS      | $1193358117.82  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MARSH & MCLENNAN COMPANIES INC                                           | MARSH & MCLENNAN COMPANIES INC                                                               | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |   2452444 | NS      | $494241039.32   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M CO                                                                    | 3M COMPANY                                                                                   | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |    974517 | NS      | $151225548.06   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTRIA GROUP INC                                                         | ALTRIA GROUP INC                                                                             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |   3707774 | NS      | $244935550.44   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLINA HEALTHCARE INC                                                    | MOLINA HEALTHCARE INC                                                                        | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |   1286696 | NS      | $246222146.56   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX INC                                                              | PAYCHEX INC                                                                                  | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |   1657830 | NS      | $210146530.80   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                                                                | PG&E CORP                                                                                    | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |   8587038 | NS      | $129492533.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCORE TECHNOLOGIES INC                                                 | PROCORE TECHNOLOGIES INC                                                                     | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |   1900000 | NS      | $138548000.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFORMANCE FOOD GROUP CO                                                | PERFORMANCE FOOD GROUP CO                                                                    | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |  10014566 | NS      | $1041915446.64  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO                                                      | PROCTER & GAMBLE CO                                                                          | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    861292 | NS      | $132337515.80   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PROGRESSIVE CORP (THE)                                                   | PROGRESSIVE CORP (THE)                                                                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |   2437627 | NS      | $601971987.65   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC                                          | PHILIP MORRIS INTERNATIONAL INC                                                              | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |  35422408 | NS      | $5745514577.60  | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLICIS GROUPE SA                                                       | PUBLICIS GROUPE SA                                                                           | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |   7915258 | NS      | $759044779.58   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES INC                                                      | QUANTA SERVICES INC                                                                          | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |   1580362 | NS      | $654933620.04   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| RESTAURANT BRANDS INTERNATIONAL INC                                      | RESTAURANT BRANDS INTERNATIONAL INC (USD)                                                    | CUSIP: 76131D103<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | EC               | CORP              | CA        |  11256257 | NS      | $721976323.98   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FERRARI NV                                                               | FERRARI NV                                                                                   | CUSIP: N/A<br>LEI: 549300RIVY5EX8RCON76       | Long             | EC               | CORP              | IT        |     58274 | NS      | $28160268.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX CORP                                                              | ROBLOX CORP                                                                                  | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   8455224 | NS      | $1171217628.48  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES LTD                                              | ROYAL CARIBBEAN CRUISES LTD                                                                  | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |   4573268 | NS      | $1479818059.44  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| REDE D'OR SAO LUIZ SA                                                    | REDE D'OR SAO LUIZ SA                                                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |  13701880 | NS      | $108332962.64   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC                                            | REGENERON PHARMACEUTICALS INC                                                                | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     90650 | NS      | $50969775.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY INC                                            | REXFORD INDUSTRIAL REALTY INC (REIT)                                                         | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   5802340 | NS      | $238534197.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD INC                                                           | ROYAL GOLD INC                                                                               | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |   1633190 | NS      | $327585250.20   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD                                               | RENAISSANCERE HOLDINGS LTD                                                                   | CUSIP: N/A<br>LEI: EK6GB9U3U58PDI411C94       | Long             | EC               | CORP              | BM        |   1446042 | NS      | $367193445.06   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ROLLS-ROYCE HOLDINGS PLC                                                 | ROLLS-ROYCE HOLDINGS PLC                                                                     | CUSIP: N/A<br>LEI: 213800EC7997ZBLZJH69       | Long             | EC               | CORP              | GB        |  79102432 | NS      | $1265979837.18  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SK HYNIX INC                                                             | SK HYNIX INC                                                                                 | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |   8891538 | NS      | $2202209083.78  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD                                | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD                                                    | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |  68866000 | NS      | $2948688562.24  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NINTENDO CO LTD                                                          | NINTENDO CO LTD                                                                              | CUSIP: N/A<br>LEI: 353800FEEXU6I9M0ZF27       | Long             | EC               | CORP              | JP        |    675300 | NS      | $58472573.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                                          | ASTRAZENECA PLC (GBP)                                                                        | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               | CORP              | GB        |   4455638 | NS      | $670068772.08   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BARRICK MINING CORP                                                      | BARRICK MINING CORP (USD)                                                                    | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |  19690289 | NS      | $645250770.53   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE                                                            | BOEING CO/THE                                                                                | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |   4379223 | NS      | $945167700.09   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                                                     | BANK OF AMERICA CORP                                                                         | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   6588827 | NS      | $339917584.93   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC                                             | BRITISH AMERICAN TOBACCO PLC                                                                 | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               | CORP              | GB        |  49984465 | NS      | $2653335489.23  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| BUNGE GLOBAL SA                                                          | BUNGE GLOBAL SA                                                                              | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |   4549819 | NS      | $369672793.75   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRASTRUCTURE PARTNERS LP                                    | BROOKFIELD INFRASTRUCTURE PARTNERS LP (CAD)                                                  | CUSIP: N/A<br>LEI: 549300WEH5R2OODI7Y90       | Long             | EC               | CORP              | BM        |   6980868 | NS      | $230037081.61   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOKING HOLDINGS INC                                                     | BOOKING HOLDINGS INC                                                                         | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |    118971 | NS      | $642356551.17   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BAKER HUGHES CO                                                          | BAKER HUGHES CO CL A                                                                         | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   4533330 | NS      | $220863837.60   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                                 | BUILDERS FIRSTSOURCE INC                                                                     | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |   1177908 | NS      | $142821345.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK INC                                                            | BLACKROCK INC                                                                                | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |    272459 | NS      | $317651774.33   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| B&M EUROPEAN VALUE RETAIL SA                                             | B&M EUROPEAN VALUE RETAIL SA                                                                 | CUSIP: N/A<br>LEI: 213800UK7ZRLY2K1X530       | Long             | EC               | CORP              | GB        |  40039390 | NS      | $140922768.47   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                                  | BRISTOL-MYERS SQUIBB CO                                                                      | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |   6087718 | NS      | $274556081.80   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD CORP                                                          | BROOKFIELD CORP A (USD)                                                                      | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |  11654337 | NS      | $799254431.46   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN INC                                                        | BROWN & BROWN INC                                                                            | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |   1745217 | NS      | $163683902.43   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                                                   | BOSTON SCIENTIFIC CORP                                                                       | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |   1161774 | NS      | $113423995.62   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO PLC                                             | BRITISH AMERICAN TOBACCO PLC ADR                                                             | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    548806 | NS      | $29130622.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BURLINGTON STORES INC                                                    | BURLINGTON STORES INC                                                                        | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |   1178941 | NS      | $300040484.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKSTONE INC                                                           | BLACKSTONE INC                                                                               | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |   1366434 | NS      | $233455248.90   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                                            | CITIGROUP INC                                                                                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   4944660 | NS      | $501882990.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CAIXABANK SA                                                             | CAIXABANK SA (BEARER)                                                                        | CUSIP: N/A<br>LEI: 7CUNS533WID6K7DGFI87       | Long             | EC               | CORP              | ES        |  15038322 | NS      | $157948267.56   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CARRIER GLOBAL CORP                                                      | CARRIER GLOBAL CORP                                                                          | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |  12632696 | NS      | $754171951.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW CORP/DE                                                              | CDW CORP/DE                                                                                  | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    597872 | NS      | $95229052.16    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE & CO                                                               | DEERE & CO                                                                                   | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    398581 | NS      | $182255148.06   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORP                                                      | DOLLAR GENERAL CORP                                                                          | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    150410 | NS      | $15544873.50    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DR HORTON INC                                                            | DR HORTON INC                                                                                | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |   4832017 | NS      | $818881920.99   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                                                             | DANAHER CORP                                                                                 | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   1106415 | NS      | $219357837.90   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR TREE INC                                                          | DOLLAR TREE INC                                                                              | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |   1790125 | NS      | $168934096.25   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV A/S                                                                  | DSV A/S                                                                                      | CUSIP: N/A<br>LEI: 529900X41C0BSLK67H70       | Long             | EC               | CORP              | DK        |   1553649 | NS      | $308992404.98   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC                                                      | ELECTRONIC ARTS                                                                              | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |   1220412 | NS      | $246157100.40   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY INC                                                   | CENTERPOINT ENERGY INC (DRS)                                                                 | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   2446304 | NS      | $94916595.20    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECKOUT PAYMENTS GROUP LTD                                              | CHECKOUT PAYMENTS GROUP LTD B PP (PHYSICAL) (NOT LISTED OR TRADING)                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JE        |    159760 | NS      | $14747445.60    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EQUIFAX INC                                                              | EQUIFAX INC                                                                                  | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |   1225697 | NS      | $314428051.41   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ESTEE LAUDER COMPANIES INC/THE                                           | ESTEE LAUDER COMPANIES INC/THE CL A                                                          | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |   2000000 | NS      | $176240000.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                                      | ELEVANCE HEALTH INC                                                                          | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    391000 | NS      | $126339920.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC                                                        | EOG RESOURCES INC                                                                            | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |   4741986 | NS      | $531671470.32   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC                                                   | EQUITABLE HOLDINGS INC                                                                       | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |    391980 | NS      | $19904744.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORP                                                                 | EQT CORP                                                                                     | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |   5701653 | NS      | $310340972.79   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSILORLUXOTTICA SA                                                      | ESSILORLUXOTTICA SA                                                                          | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               | CORP              | FR        |    752074 | NS      | $243700404.61   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| EVOLUTION AB                                                             | EVOLUTION AB                                                                                 | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               | CORP              | SE        |   3089523 | NS      | $253806624.77   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE INC                                                  | EXTRA SPACE STORAGE INC (REIT)                                                               | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |   2453180 | NS      | $345751189.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORP                                                               | FEDEX CORP                                                                                   | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |    483033 | NS      | $113904011.73   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER ENTERTAINMENT PLC                                                | FLUTTER ENTERTAINMENT PLC (USD)                                                              | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               | CORP              | US        |   1325139 | NS      | $336585306.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS LTD                                               | FIRST QUANTUM MINERALS LTD                                                                   | CUSIP: 335934105<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | EC               | CORP              | CA        |  12386452 | NS      | $280179283.58   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI AVIATION LTD                                                        | FTAI AVIATION LTD                                                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1538416 | NS      | $256700093.76   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL ELECTRIC CO                                                      | GENERAL ELECTRIC CO AKA GE AEROSPACE                                                         | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |   6331698 | NS      | $1904701392.36  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC                                                           | GE VERNOVA INC                                                                               | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |   1408802 | NS      | $866272349.80   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE PLC                                                             | GLENCORE PLC                                                                                 | CUSIP: N/A<br>LEI: 2138002658CPO9NBH955       | Long             | EC               | CORP              | CH        |  89499148 | NS      | $411175050.52   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO MEXICO SAB DE CV                                                   | GRUPO MEXICO SAB DE CV SER B                                                                 | CUSIP: N/A<br>LEI: 529900JWLZAYET2ZGW20       | Long             | EC               | CORP              | MX        | 106915100 | NS      | $932453095.91   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                                             | ALPHABET INC CL C                                                                            | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |  20988265 | NS      | $5111691940.75  | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                                             | ALPHABET INC CL A                                                                            | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   4744074 | NS      | $1153284389.40  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                  | GOLDMAN SACHS GROUP INC                                                                      | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |    612924 | NS      | $488102027.40   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                                                           | HOME DEPOT INC                                                                               | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    434090 | NS      | $175888927.10   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD                                                            | HDFC BANK LTD ADR                                                                            | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |   3949446 | NS      | $134913075.36   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD                                                            | HDFC BANK LTD                                                                                | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |  16600000 | NS      | $177799552.31   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC                                            | HILTON WORLDWIDE HOLDINGS INC                                                                | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |   1057769 | NS      | $274427589.36   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HONEYWELL INTERNATIONAL INC                                              | HONEYWELL INTERNATIONAL INC                                                                  | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    133500 | NS      | $28101750.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC                                                               | HUMANA INC                                                                                   | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |    400921 | NS      | $104307616.57   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORP                                     | INTERNATIONAL BUSINESS MACHINES CORP                                                         | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    800000 | NS      | $225728000.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE INC                                            | INTERCONTINENTAL EXCHANGE INC                                                                | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |   2977647 | NS      | $501673966.56   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINA INC                                                             | ILLUMINA INC                                                                                 | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |   1174725 | NS      | $111563633.25   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                                                      | IMPERIAL BRANDS PLC                                                                          | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |   6509914 | NS      | $276488688.46   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORP                                                               | INTEL CORP                                                                                   | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |   5095873 | NS      | $170966539.15   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| INGERSOLL-RAND INC                                                       | INGERSOLL-RAND INC                                                                           | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |  11814399 | NS      | $976105645.38   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| GARTNER INC                                                              | GARTNER INC                                                                                  | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |    369400 | NS      | $97104178.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                                                         | TOTALENERGIES SE                                                                             | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |   4074722 | NS      | $247472562.76   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS INC                                             | UNITED AIRLINES HOLDINGS INC                                                                 | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |   4300493 | NS      | $414997574.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                                   | UNITEDHEALTH GROUP INC                                                                       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |   3907848 | NS      | $1349379914.40  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                                                       | UNION PACIFIC CORP                                                                           | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |   2808903 | NS      | $663940402.11   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS INC                                                       | UNITED RENTALS INC                                                                           | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |   1905464 | NS      | $1819070262.24  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US FOODS HOLDING CORP                                                    | US FOODS HOLDING CORP                                                                        | CUSIP: 912008109<br>LEI: 549300UGOZSO64CFPR97 | Long             | EC               | CORP              | US        |   1800000 | NS      | $137916000.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                                                 | VISA INC CL A                                                                                | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |   5799185 | NS      | $1979725775.30  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC                                                      | VICI PROPERTIES INC (REIT)                                                                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |   2389900 | NS      | $77934639.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VIPER ENERGY INC                                                         | VIPER ENERGY INC CL A                                                                        | CUSIP: 64361Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2519367 | NS      | $96290206.74    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INC                                               | VERTEX PHARMACEUTICALS INC                                                                   | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |   1697771 | NS      | $664915034.44   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP                                                              | VISTRA CORP                                                                                  | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    897909 | NS      | $175918331.28   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS INC                                                    | WASTE CONNECTIONS INC (USD)                                                                  | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |   1806463 | NS      | $317576195.40   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC                                                            | WELLTOWER INC (REIT)                                                                         | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |   6585598 | NS      | $1173158427.72  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & CO                                                         | WELLS FARGO & CO                                                                             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |   2600858 | NS      | $218003917.56   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| WHEATON PRECIOUS METALS CORP                                             | WHEATON PRECIOUS METALS CORP (USD)                                                           | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |   6796772 | NS      | $760150980.48   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNN RESORTS LTD                                                         | WYNN RESORTS LTD                                                                             | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |   3934505 | NS      | $504678956.35   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                                                         | EXXON MOBIL CORP                                                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    644377 | NS      | $72653506.75    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| XP INC                                                                   | XP INC CL A                                                                                  | CUSIP: N/A<br>LEI: 5493008KDA8NBZRJST80       | Long             | EC               | CORP              | BR        |  10327142 | NS      | $194046998.18   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| XPO INC                                                                  | XPO INC                                                                                      | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |   2653243 | NS      | $342984722.61   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM! BRANDS INC                                                          | YUM! BRANDS INC                                                                              | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |    349282 | NS      | $53090864.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS INC                                               | ZIMMER BIOMET HOLDINGS INC                                                                   | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |   1853722 | NS      | $182591617.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                                                | APPLE INC                                                                                    | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   5153792 | NS      | $1312310056.96  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                                                               | ABBVIE INC                                                                                   | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    186739 | NS      | $43237548.06    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBOTT LABORATORIES                                                      | ABBOTT LABORATORIES                                                                          | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |   4621148 | NS      | $618956563.12   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD                                                   | ARCH CAPITAL GROUP LTD                                                                       | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Long             | EC               | CORP              | BM        |   1125354 | NS      | $102103368.42   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC                                                            | ACCENTURE PLC CL A                                                                           | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |    841684 | NS      | $207559274.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                                                                | ADOBE INC                                                                                    | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |    350731 | NS      | $123720360.25   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBUS SE                                                                | AIRBUS SE                                                                                    | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |   2064429 | NS      | $478446842.44   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                                                  | ARTHUR J GALLAGHER & CO                                                                      | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |   1889246 | NS      | $585175056.04   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC                                              | ALNYLAM PHARMACEUTICALS INC                                                                  | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |   1604154 | NS      | $731494224.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AMADEUS IT GROUP SA                                                      | AMADEUS IT GROUP SA A (BEARER)                                                               | CUSIP: N/A<br>LEI: 9598004A3FTY3TEHHN09       | Long             | EC               | CORP              | ES        |   2446604 | NS      | $193889391.43   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                                                    | APPLIED MATERIALS INC                                                                        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |   1290424 | NS      | $264201409.76   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                                | AMGEN INC                                                                                    | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |   3868125 | NS      | $1091584875.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                                                           | AMAZON.COM INC                                                                               | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |  17171483 | NS      | $3770342522.31  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AON PLC                                                                  | AON PLC CL A                                                                                 | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | GB        |   1710242 | NS      | $609838092.36   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR PRODUCTS & CHEMICALS INC                                             | AIR PRODUCTS & CHEMICALS INC                                                                 | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |    728998 | NS      | $198812334.56   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT INC                                             | APOLLO GLOBAL MANAGEMENT INC                                                                 | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |  10482616 | NS      | $1397018234.32  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC                                                     | KEURIG DR PEPPER INC                                                                         | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |  10533527 | NS      | $268710273.77   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES INC                                                | KEYSIGHT TECHNOLOGIES INC                                                                    | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |   1968152 | NS      | $344269147.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORP                                                            | APPLOVIN CORP CL A                                                                           | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    702409 | NS      | $504708962.86   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ALEXANDRIA REAL ESTATE EQUITIES INC                                      | ALEXANDRIA REAL ESTATE EQUITIES INC (REIT)                                                   | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |   1980929 | NS      | $165090622.86   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO INC                                                             | KKR & CO INC                                                                                 | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |   3669757 | NS      | $476884922.15   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORP                                                                 | KLA CORP                                                                                     | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |   1401651 | NS      | $1511820768.60  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP                                                     | ARES MANAGEMENT CORP CL A                                                                    | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               | CORP              | US        |   3668676 | NS      | $586584605.64   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                                                          | ASML HOLDING NV ADR                                                                          | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |    463013 | NS      | $448238255.17   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFCO AB                                                                 | LIFCO AB CL B                                                                                | CUSIP: N/A<br>LEI: 549300RTLL4VDQRCTW41       | Long             | EC               | CORP              | SE        |   8968067 | NS      | $302733227.04   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDE PUBLIC LIMITED COMPANY (NEW)                                       | LINDE PUBLIC LIMITED COMPANY (NEW)                                                           | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |    919690 | NS      | $436852750.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML HOLDING NV                                                          | ASML HOLDING NV                                                                              | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |    405236 | NS      | $393982922.83   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORP                                                        | ATMOS ENERGY CORP                                                                            | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |    200766 | NS      | $34280794.50    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND CO                                                         | ELI LILLY AND CO                                                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |   2479028 | NS      | $1891498364.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| LOAR HOLDINGS INC                                                        | LOAR HOLDINGS INC                                                                            | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2870001 | NS      | $229600080.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                                                             | BROADCOM INC                                                                                 | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |  36303515 | NS      | $11976892633.65 | 7.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LUNDIN MINING CORP                                                       | LUNDIN MINING CORP                                                                           | CUSIP: 550372106<br>LEI: 549300FQDIM6C8HTN269 | Long             | EC               | CORP              | CA        |  17950710 | NS      | $267770884.24   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE                                      | LVMH MOET HENNESSY LOUIS VUITTON SE                                                          | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               | CORP              | FR        |    229783 | NS      | $140418788.68   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LYONDELLBASELL INDUSTRIES NV                                             | LYONDELLBASELL INDUSTRIES NV                                                                 | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |   4020959 | NS      | $197187829.36   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                                                           | MASTERCARD INC CL A                                                                          | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |   1353323 | NS      | $769783655.63   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MID-AMERICA APARTMENT COMMUNITIES INC                                    | MID-AMERICA APARTMENT COMMUNITIES INC (REIT)                                                 | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |   1226670 | NS      | $171402599.10   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                                                 | MICROCHIP TECHNOLOGY INC CV PFD SER A CUMULATIVE DEP SHARES (1/20TH 7.5% SER A PFD) 03-15-28 | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |   1600000 | NS      | $94448000.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| MCKESSON CORP                                                            | MCKESSON CORP                                                                                | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     80706 | NS      | $62348613.24    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MONDELEZ INTERNATIONAL INC                                               | MONDELEZ INTERNATIONAL INC CL A                                                              | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |   4878015 | NS      | $304729597.05   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCADOLIBRE INC                                                         | MERCADOLIBRE INC                                                                             | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |    551488 | NS      | $1288794366.72  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC                                                       | META PLATFORMS INC CL A                                                                      | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |   4882950 | NS      | $3585940821.00  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL GROUP CENTRAL CASH FUND                                          | CAPITAL GROUP CENTRAL CASH FUND                                                              | CUSIP: 14020B102<br>LEI: 549300YD0SRETB6WWP29 | Long             | STIV             | RF                | US        |  28458407 | NS      | $2845840709.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                           | MORGAN STANLEY                                                                               | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    739797 | NS      | $117598131.12   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                                                           | MICROSOFT CORP                                                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |  18487542 | NS      | $9575622378.90  | 6.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                   | MOTOROLA SOLUTIONS INC                                                                       | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |   1043917 | NS      | $477372804.93   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                                             | STRATEGY INC CL A                                                                            | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |   4255592 | NS      | $1371194298.32  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTERNATIONAL INC                                         | METTLER-TOLEDO INTERNATIONAL INC                                                             | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |    164015 | NS      | $201346454.15   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VAIL RESORTS INC                                                         | VAIL RESORTS INC                                                                             | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |    851717 | NS      | $127391311.69   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY INC                                                    | MICRON TECHNOLOGY INC                                                                        | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |  21989436 | NS      | $3679272431.52  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD                                       | NORWEGIAN CRUISE LINE HOLDINGS LTD                                                           | CUSIP: N/A<br>LEI: 254900W8I5G9146RBD88       | Long             | EC               | CORP              | US        |  12535390 | NS      | $308746655.70   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NESTLE SA                                                                | NESTLE SA                                                                                    | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               | CORP              | CH        |   8996704 | NS      | $825813907.77   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUDFLARE INC                                                           | CLOUDFLARE INC CL A                                                                          | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               | CORP              | US        |   2935685 | NS      | $629968644.15   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX INC                                                              | NETFLIX INC                                                                                  | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    509831 | NS      | $611246582.52   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC                                                             | NISOURCE INC                                                                                 | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |   4709008 | NS      | $203900046.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE INC                                                                 | NIKE INC CL B                                                                                | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |   1526147 | NS      | $106418230.31   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                    | NORTHROP GRUMMAN CORP                                                                        | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |    902196 | NS      | $549726066.72   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO NORDISK AS                                                          | NOVO NORDISK AS CL B                                                                         | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               | CORP              | DK        |   3439493 | NS      | $186444155.43   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NUCOR CORP                                                               | NUCOR CORP                                                                                   | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |   1321823 | NS      | $179014488.89   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                                                              | NVIDIA CORP                                                                                  | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |  34255261 | NS      | $6391346597.38  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN HOLDINGS INC                                                     | ONEMAIN HOLDINGS INC                                                                         | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |   7759550 | NS      | $438104193.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUE OWL CAPITAL INC                                                     | BLUE OWL CAPITAL INC CL A                                                                    | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |  30939902 | NS      | $523812540.86   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO - SHORT-TERM INVESTMENTS TRUST - GOVERNMENT AND AGENCY PORTFOLIO | INVESCO - SHORT-TERM INVESTMENTS TRUST - GOVERNMENT AND AGENCY PORTFOLIO                     | CUSIP: 825252885<br>LEI: N/A                  | Long             | EC               | RF                | US        |  16031304 | PA      | $16031304.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** American Funds Fundamental Investors

**Signature:** Scott Lewis

**Name of Signer:** Scott Lewis

**Title:** Compliance Specialist Senior