# EDGAR Filing Document

**Accession Number:** 0001655146
**File Stem:** 0001145549-25-057823
**Filing Date:** 2025-9
**Character Count:** 439618
**Document Hash:** 81d76e8f99c36d1d5ab98862d7c8999f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-057823.hdr.sgml**: 20250905

**ACCESSION NUMBER**: 0001145549-25-057823

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 57

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250905

**DATE AS OF CHANGE**: 20250905

**EFFECTIVENESS DATE**: 20250905

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN FUNDS STRATEGIC BOND FUND
- **CENTRAL INDEX KEY:** 0001655146

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23101
- **FILM NUMBER:** 251295771

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** 213-486-9200

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

## Series and Classes Contracts Data

### American Funds Strategic Bond Fund (Series ID: S000052313)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000164459 | Class 529-A   | CANAX           |
| C000164460 | Class F-2     | ANBFX           |
| C000164461 | Class R-1     | RANAX           |
| C000164462 | Class R-2     | RANBX           |
| C000164463 | Class R-2E    | RANHX           |
| C000164464 | Class R-3     | RANCX           |
| C000164465 | Class R-4     | RANEX           |
| C000164466 | Class R-5     | RANFX           |
| C000164467 | Class R-5E    | RANJX           |
| C000164468 | Class R-6     | RANGX           |
| C000164470 | Class 529-C   | CANCX           |
| C000164471 | Class 529-E   | CANEX           |
| C000164472 | Class 529-F-1 | CANFX           |
| C000164473 | Class A       | ANBAX           |
| C000164475 | Class C       | ANBCX           |
| C000164476 | Class F-1     | ANBEX           |
| C000179994 | Class F-3     | ANBGX           |
| C000189484 | Class 529-T   | TSFBX           |
| C000189485 | Class T       | TFSBX           |
| C000224627 | Class 529-F-2 | FSBMX           |
| C000224628 | Class 529-F-3 | FBSSX           |

?xml version='1.0' encoding='ASCII'? 8dde4f1ea530a9d

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

#### FORM N-CSR

------

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-23101

#### American Funds Strategic Bond Fund
(Exact name of registrant as specified in charter)

------

6455 Irvine Center Drive

Irvine, California 92618

(Address of principal executive offices)

Becky L. Park

6455 Irvine Center Drive

Irvine, California 92618

(Name and address of agent for service)

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

#### Date of fiscal year end:

#### December 31

#### Date of reporting period:

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

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

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> Strategic Bond Fund
**Class A \| ANBAX** for the six months ended June 30, 2025

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class A | &nbsp;&nbsp;$37 | 0.72%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFAASRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> Strategic Bond Fund
**Class C \| ANBCX** for the six months ended June 30, 2025

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class C | &nbsp;&nbsp;$72 | 1.42%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFCCSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

## American Funds <sup>®</sup> Strategic Bond Fund
**Class T \| TFSBX** for the six months ended June 30, 2025

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

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

---

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

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2120.jpg)

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

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

Lit. No. MFTTSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-1 | &nbsp;&nbsp;$36 | 0.70%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFF1SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-2 | &nbsp;&nbsp;$22 | 0.43%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFF2SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class F-3 | &nbsp;&nbsp;$16 | 0.31%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFF3SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-A | &nbsp;&nbsp;$36 | 0.70%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5ASRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-C | &nbsp;&nbsp;$75 | 1.47%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5CSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-E | &nbsp;&nbsp;$46 | 0.90%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5ESRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-T | &nbsp;&nbsp;$24 | 0.47%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

![TSR - QR Code - American Funds (Mutual Funds)](images_2120.jpg)

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

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

Lit. No. MF5TSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-1 | &nbsp;&nbsp;$24 | 0.48%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5FSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-2 | &nbsp;&nbsp;$20 | 0.40%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5XSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class 529-F-3 | &nbsp;&nbsp;$18 | 0.35%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF5YSRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-1 | &nbsp;&nbsp;$71 | 1.40%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR1SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-2 | &nbsp;&nbsp;$69 | 1.35%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR2SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-2E | &nbsp;&nbsp;$58 | 1.13%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MF2ESRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-3 | &nbsp;&nbsp;$48 | 0.95%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR3SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-4 | &nbsp;&nbsp;$33 | 0.64%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR4SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-5E | &nbsp;&nbsp;$24 | 0.47%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFE5SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-5 | &nbsp;&nbsp;$19 | 0.37%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR5SRX-112-0825© 2025 Capital Group. All rights reserved.

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

SEMI-ANNUAL SHAREHOLDER REPORT

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

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

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

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Share class** | &nbsp;&nbsp;**Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;Class R-6 | &nbsp;&nbsp;$16 | 0.31%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $19922 |
| Total number of portfolio holdings | 2187 |
| Portfolio turnover rate including<br>mortgage dollar roll transactions | 122% |
| Portfolio turnover rate excluding mortgage dollar roll transactions | 36% |

---

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

\*Includes derivatives.

Availability of additional information

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

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

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

Lit. No. MFR6SRX-112-0825© 2025 Capital Group. All rights reserved.

------

#### ITEM 2 - Code of Ethics
Not applicable for filing of semi-annual reports to shareholders.

------

#### ITEM 3 - Audit Committee Financial Expert
Not applicable for filing of semi-annual reports to shareholders.

------

#### ITEM 4 - Principal Accountant Fees and Services
Not applicable for filing of semi-annual reports to shareholders.

------

#### ITEM 5 - Audit Committee of Listed Registrants
Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.

------

#### ITEM 6 - Investments
The schedule of investments is included as part of the material filed under Item 7 of this Form.

------

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

------

![](img0bbde0661.jpg)

**American Funds**<sup>®</sup> **Strategic Bond Fund**

Financial Statements and Other Information

N-CSR Items 7-11

for the six months ended June 30, 2025

Lit. No. MFGEFP2-112-0825© 2025 Capital Group. All rights reserved.

------

Investment portfolio June 30, 2025unaudited

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments 95.45% | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations 35.86%** | **Mortgage-backed obligations 35.86%** | **Mortgage-backed obligations 35.86%** |
| **Federal agency mortgage-backed obligations 28.13%** | **Federal agency mortgage-backed obligations 28.13%** | **Federal agency mortgage-backed obligations 28.13%** |
| Fannie Mae Pool #FS5372 3.50% 7/1/2049 <sup>(a)</sup>  | USD173,146 | $159529 |
| Fannie Mae Pool #FM4279 2.00% 9/1/2050 <sup>(a)</sup>  | 1479 | 1172 |
| Fannie Mae Pool #BQ2143 2.50% 9/1/2050 <sup>(a)</sup>  | 1544 | 1284 |
| Fannie Mae Pool #CA7052 3.00% 9/1/2050 <sup>(a)</sup>  | 2404 | 2105 |
| Fannie Mae Pool #BQ6356 2.00% 11/1/2050 <sup>(a)</sup>  | 35 | 28 |
| Fannie Mae Pool #CA7737 2.50% 11/1/2050 <sup>(a)</sup>  | 37144 | 31263 |
| Fannie Mae Pool #BQ4077 2.00% 12/1/2050 <sup>(a)</sup>  | 11127 | 8820 |
| Fannie Mae Pool #MA4237 2.00% 1/1/2051 <sup>(a)</sup>  | 25872 | 20646 |
| Fannie Mae Pool #BR2666 2.00% 2/1/2051 <sup>(a)</sup>  | 7440 | 5980 |
| Fannie Mae Pool #FM6128 2.50% 2/1/2051 <sup>(a)</sup>  | 4593 | 3814 |
| Fannie Mae Pool #FM5713 2.50% 2/1/2051 <sup>(a)</sup>  | 83 | 69 |
| Fannie Mae Pool #CA9390 2.50% 3/1/2051 <sup>(a)</sup>  | 34137 | 28343 |
| Fannie Mae Pool #MA4282 2.50% 3/1/2051 <sup>(a)</sup>  | 6596 | 5506 |
| Fannie Mae Pool #BR3314 2.50% 3/1/2051 <sup>(a)</sup>  | 5361 | 4451 |
| Fannie Mae Pool #BR3771 2.00% 4/1/2051 <sup>(a)</sup>  | 2491 | 1977 |
| Fannie Mae Pool #BR7719 2.00% 4/1/2051 <sup>(a)</sup>  | 1067 | 846 |
| Fannie Mae Pool #MA4306 2.50% 4/1/2051 <sup>(a)</sup>  | 26365 | 22030 |
| Fannie Mae Pool #BN9135 2.50% 4/1/2051 <sup>(a)</sup>  | 4502 | 3738 |
| Fannie Mae Pool #BR9703 2.50% 4/1/2051 <sup>(a)</sup>  | 1595 | 1324 |
| Fannie Mae Pool #BR7725 2.50% 4/1/2051 <sup>(a)</sup>  | 1330 | 1104 |
| Fannie Mae Pool #CB0046 3.00% 4/1/2051 <sup>(a)</sup>  | 124554 | 107916 |
| Fannie Mae Pool #CB0191 3.00% 4/1/2051 <sup>(a)</sup>  | 39693 | 34686 |
| Fannie Mae Pool #CB0193 3.00% 4/1/2051 <sup>(a)</sup>  | 4888 | 4272 |
| Fannie Mae Pool #CB0520 2.50% 5/1/2051 <sup>(a)</sup>  | 2550 | 2117 |
| Fannie Mae Pool #CB0396 2.50% 5/1/2051 <sup>(a)</sup>  | 1926 | 1599 |
| Fannie Mae Pool #BT0971 2.50% 5/1/2051 <sup>(a)</sup>  | 1328 | 1102 |
| Fannie Mae Pool #BR9622 2.50% 5/1/2051 <sup>(a)</sup>  | 496 | 412 |
| Fannie Mae Pool #FM7803 2.00% 6/1/2051 <sup>(a)</sup>  | 9936 | 8008 |
| Fannie Mae Pool #FM7909 3.00% 6/1/2051 <sup>(a)</sup>  | 3618 | 3161 |
| Fannie Mae Pool #CB1186 2.00% 7/1/2051 <sup>(a)</sup>  | 15169 | 12060 |
| Fannie Mae Pool #FM7943 2.00% 7/1/2051 <sup>(a)</sup>  | 11301 | 8958 |
| Fannie Mae Pool #BT1855 2.00% 7/1/2051 <sup>(a)</sup>  | 1624 | 1287 |
| Fannie Mae Pool #BQ0991 2.50% 7/1/2051 <sup>(a)</sup>  | 7580 | 6294 |
| Fannie Mae Pool #BT2760 2.50% 8/1/2051 <sup>(a)</sup>  | 19 | 16 |
| Fannie Mae Pool #BT9828 2.50% 9/1/2051 <sup>(a)</sup>  | 6513 | 5408 |
| Fannie Mae Pool #BT9289 2.50% 9/1/2051 <sup>(a)</sup>  | 481 | 399 |
| Fannie Mae Pool #FM9068 2.50% 10/1/2051 <sup>(a)</sup>  | 9179 | 7688 |
| Fannie Mae Pool #FM8954 2.50% 10/1/2051 <sup>(a)</sup>  | 19 | 16 |
| Fannie Mae Pool #FS4628 3.00% 10/1/2051 <sup>(a)</sup>  | 6537 | 5712 |
| Fannie Mae Pool #MA4465 2.00% 11/1/2051 <sup>(a)</sup>  | 18568 | 14757 |
| Fannie Mae Pool #CB2095 3.00% 11/1/2051 <sup>(a)</sup>  | 18081 | 15671 |
| Fannie Mae Pool #FS1069 2.00% 12/1/2051 <sup>(a)</sup>  | 12108 | 9598 |
| Fannie Mae Pool #MA4492 2.00% 12/1/2051 <sup>(a)</sup>  | 2499 | 1986 |
| Fannie Mae Pool #BT9483 2.50% 12/1/2051 <sup>(a)</sup>  | 946 | 796 |
| Fannie Mae Pool #BT9510 2.50% 12/1/2051 <sup>(a)</sup>  | 940 | 792 |
| Fannie Mae Pool #CB2319 2.50% 12/1/2051 <sup>(a)</sup>  | 934 | 786 |
| Fannie Mae Pool #FM9672 2.50% 12/1/2051 <sup>(a)</sup>  | 700 | 581 |
| Fannie Mae Pool #CB2372 2.50% 12/1/2051 <sup>(a)</sup>  | 453 | 381 |
| Fannie Mae Pool #BQ7006 2.00% 1/1/2052 <sup>(a)</sup>  | 4882 | 3878 |
| Fannie Mae Pool #CB2666 3.00% 1/1/2052 <sup>(a)</sup>  | 3000 | 2599 |
| Fannie Mae Pool #BU9641 3.00% 1/1/2052 <sup>(a)</sup>  | 1917 | 1664 |
| Fannie Mae Pool #MA4547 2.00% 2/1/2052 <sup>(a)</sup>  | 7491 | 5951 |
| Fannie Mae Pool #BV2340 2.00% 2/1/2052 <sup>(a)</sup>  | 1471 | 1166 |
| Fannie Mae Pool #BV3083 2.00% 2/1/2052 <sup>(a)</sup>  | 1214 | 963 |
| Fannie Mae Pool #CB3155 2.00% 3/1/2052 <sup>(a)</sup>  | 8179 | 6489 |
| Fannie Mae Pool #BV3101 2.00% 3/1/2052 <sup>(a)</sup>  | 3809 | 3019 |
| Fannie Mae Pool #FS1742 2.00% 3/1/2052 <sup>(a)</sup>  | 3282 | 2608 |
| Fannie Mae Pool #MA4562 2.00% 3/1/2052 <sup>(a)</sup>  | 2931 | 2326 |
| Fannie Mae Pool #BV4172 2.00% 3/1/2052 <sup>(a)</sup>  | 1734 | 1374 |
| Fannie Mae Pool #BV4169 2.00% 3/1/2052 <sup>(a)</sup>  | 1701 | 1348 |
| Fannie Mae Pool #CB3995 2.50% 3/1/2052 <sup>(a)</sup>  | 306 | 255 |
| Fannie Mae Pool #BT8111 2.50% 3/1/2052 <sup>(a)</sup>  | 304 | 253 |

---

---

| | |
|:---|:---|
| **1** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #BT2305 2.50% 3/1/2052 <sup>(a)</sup>  | USD302 | $252 |
| Fannie Mae Pool #MA4577 2.00% 4/1/2052 <sup>(a)</sup>  | 40937 | 32548 |
| Fannie Mae Pool #FS7498 2.00% 4/1/2052 <sup>(a)</sup>  | 18090 | 14369 |
| Fannie Mae Pool #FS1598 2.00% 4/1/2052 <sup>(a)</sup>  | 3367 | 2675 |
| Fannie Mae Pool #BV4658 2.00% 4/1/2052 <sup>(a)</sup>  | 403 | 321 |
| Fannie Mae Pool #CB3354 2.50% 4/1/2052 <sup>(a)</sup>  | 2507 | 2081 |
| Fannie Mae Pool #BV3853 2.50% 4/1/2052 <sup>(a)</sup>  | 864 | 719 |
| Fannie Mae Pool #BU8802 2.50% 4/1/2052 <sup>(a)</sup>  | 428 | 356 |
| Fannie Mae Pool #BU9507 2.50% 4/1/2052 <sup>(a)</sup>  | 66 | 55 |
| Fannie Mae Pool #BV8117 3.00% 4/1/2052 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #FS7061 3.00% 4/1/2052 <sup>(a)</sup>  | 400 | 347 |
| Fannie Mae Pool #FS9189 2.00% 5/1/2052 <sup>(a)</sup>  | 7660 | 6089 |
| Fannie Mae Pool #BV9818 2.50% 5/1/2052 <sup>(a)</sup>  | 598 | 498 |
| Fannie Mae Pool #BU6941 2.50% 5/1/2052 <sup>(a)</sup>  | 250 | 208 |
| Fannie Mae Pool #BV5578 3.00% 5/1/2052 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #BV8809 3.00% 5/1/2052 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #FS7329 2.00% 6/1/2052 <sup>(a)</sup>  | 5288 | 4196 |
| Fannie Mae Pool #BW3559 2.50% 6/1/2052 <sup>(a)</sup>  | 960 | 802 |
| Fannie Mae Pool #FS6986 2.00% 7/1/2052 <sup>(a)</sup>  | 10955 | 8685 |
| Fannie Mae Pool #CB4274 2.50% 7/1/2052 <sup>(a)</sup>  | 7375 | 6121 |
| Fannie Mae Pool #MA4652 2.50% 7/1/2052 <sup>(a)</sup>  | 187 | 156 |
| Fannie Mae Pool #FS2654 4.00% 8/1/2052 <sup>(a)</sup>  | 10798 | 10068 |
| Fannie Mae Pool #CB4384 4.50% 8/1/2052 <sup>(a)</sup>  | 198452 | 190981 |
| Fannie Mae Pool #MA4769 2.00% 9/1/2052 <sup>(a)</sup>  | 385 | 305 |
| Fannie Mae Pool #CB4548 4.00% 9/1/2052 <sup>(a)</sup>  | 8206 | 7648 |
| Fannie Mae Pool #BW1192 4.50% 9/1/2052 <sup>(a)</sup>  | 23054 | 22081 |
| Fannie Mae Pool #BV8052 4.50% 9/1/2052 <sup>(a)</sup>  | 12281 | 11778 |
| Fannie Mae Pool #BW7702 4.50% 9/1/2052 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Fannie Mae Pool #CB4801 4.50% 10/1/2052 <sup>(a)</sup>  | 22409 | 21489 |
| Fannie Mae Pool #MA4785 5.00% 10/1/2052 <sup>(a)</sup>  | 150276 | 148084 |
| Fannie Mae Pool #FS5994 5.00% 10/1/2052 <sup>(a)</sup>  | 129360 | 127493 |
| Fannie Mae Pool #FS5554 4.50% 11/1/2052 <sup>(a)</sup>  | 24946 | 23926 |
| Fannie Mae Pool #BV7577 4.50% 11/1/2052 <sup>(a)</sup>  | 18152 | 17410 |
| Fannie Mae Pool #MA4932 3.00% 1/1/2053 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #FS5520 4.50% 1/1/2053 <sup>(a)</sup>  | 36393 | 34854 |
| Fannie Mae Pool #BW5065 5.00% 1/1/2053 <sup>(a)</sup>  | 5521 | 5436 |
| Fannie Mae Pool #CB5633 4.50% 2/1/2053 <sup>(a)</sup>  | 119345 | 114479 |
| Fannie Mae Pool #BX5114 5.00% 2/1/2053 <sup>(a)</sup>  | 37142 | 36577 |
| Fannie Mae Pool #BW1849 5.00% 2/1/2053 <sup>(a)</sup>  | 1630 | 1606 |
| Fannie Mae Pool #BX6074 5.00% 3/1/2053 <sup>(a)</sup>  | 73434 | 72359 |
| Fannie Mae Pool #FS4142 5.00% 3/1/2053 <sup>(a)</sup>  | 64986 | 64034 |
| Fannie Mae Pool #CB5912 6.00% 3/1/2053 <sup>(a)</sup>  | 11016 | 11277 |
| Fannie Mae Pool #CB6303 4.50% 5/1/2053 <sup>(a)</sup>  | 10174 | 9752 |
| Fannie Mae Pool #FS4563 5.00% 5/1/2053 <sup>(a)</sup>  | 4345 | 4294 |
| Fannie Mae Pool #FS4840 5.50% 5/1/2053 <sup>(a)</sup>  | 8765 | 8774 |
| Fannie Mae Pool #BW9777 3.00% 6/1/2053 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #FS6793 4.00% 6/1/2053 <sup>(a)</sup>  | 2052 | 1910 |
| Fannie Mae Pool #MA5038 5.00% 6/1/2053 <sup>(a)</sup>  | 47334 | 46517 |
| Fannie Mae Pool #CB6485 6.00% 6/1/2053 <sup>(a)</sup>  | 65 | 66 |
| Fannie Mae Pool #CB6486 6.00% 6/1/2053 <sup>(a)</sup>  | 40 | 41 |
| Fannie Mae Pool #CB6465 6.00% 6/1/2053 <sup>(a)</sup>  | 30 | 31 |
| Fannie Mae Pool #FS7823 2.00% 7/1/2053 <sup>(a)</sup>  | 17976 | 14279 |
| Fannie Mae Pool #FS8875 3.00% 7/1/2053 <sup>(a)</sup>  | 2000 | 1733 |
| Fannie Mae Pool #CB6626 4.00% 7/1/2053 <sup>(a)</sup>  | 363 | 338 |
| Fannie Mae Pool #CB7075 4.00% 9/1/2053 <sup>(a)</sup>  | 55745 | 52015 |
| Fannie Mae Pool #CB7076 4.00% 9/1/2053 <sup>(a)</sup>  | 33735 | 31430 |
| Fannie Mae Pool #CB7104 5.50% 9/1/2053 <sup>(a)</sup>  | 10394 | 10419 |
| Fannie Mae Pool #FS7252 5.00% 11/1/2053 <sup>(a)</sup>  | 150945 | 148337 |
| Fannie Mae Pool #FS6838 5.50% 11/1/2053 <sup>(a)</sup>  | 41643 | 41717 |
| Fannie Mae Pool #CB7426 6.50% 11/1/2053 <sup>(a)</sup>  | 34959 | 36281 |
| Fannie Mae Pool #CB7626 6.50% 12/1/2053 <sup>(a)</sup>  | 39198 | 40797 |
| Fannie Mae Pool #FS6873 6.50% 1/1/2054 <sup>(a)</sup>  | 14137 | 14619 |
| Fannie Mae Pool #FS6767 6.50% 1/1/2054 <sup>(a)</sup>  | 4214 | 4379 |
| Fannie Mae Pool #FS7653 6.50% 3/1/2054 <sup>(a)</sup>  | 3462 | 3603 |
| Fannie Mae Pool #DB3463 5.50% 5/1/2054 <sup>(a)</sup>  | 43399 | 43431 |
| Fannie Mae Pool #DB3612 5.50% 5/1/2054 <sup>(a)</sup>  | 13498 | 13508 |

---

American Funds Strategic Bond Fund<sub>2</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Fannie Mae Pool #FS8223 6.00% 6/1/2054 <sup>(a)</sup>  | USD2,324 | $2368 |
| Fannie Mae Pool #CB8725 6.50% 6/1/2054 <sup>(a)</sup>  | 5042 | 5240 |
| Fannie Mae Pool #FS8467 5.50% 7/1/2054 <sup>(a)</sup>  | 27093 | 27264 |
| Fannie Mae Pool #FS8591 6.00% 7/1/2054 <sup>(a)</sup>  | 7199 | 7388 |
| Fannie Mae Pool #CB8858 6.00% 7/1/2054 <sup>(a)</sup>  | 4418 | 4512 |
| Fannie Mae Pool #FS8318 6.00% 7/1/2054 <sup>(a)</sup>  | 3038 | 3118 |
| Fannie Mae Pool #CB8872 6.50% 7/1/2054 <sup>(a)</sup>  | 7865 | 8191 |
| Fannie Mae Pool #CB8876 6.50% 7/1/2054 <sup>(a)</sup>  | 2241 | 2330 |
| Fannie Mae Pool #FS8317 6.50% 7/1/2054 <sup>(a)</sup>  | 1272 | 1325 |
| Fannie Mae Pool #DB7783 5.50% 8/1/2054 <sup>(a)</sup>  | 2664 | 2673 |
| Fannie Mae Pool #FS8758 6.00% 8/1/2054 <sup>(a)</sup>  | 6865 | 6995 |
| Fannie Mae Pool #BU4916 6.00% 8/1/2054 <sup>(a)</sup>  | 6083 | 6198 |
| Fannie Mae Pool #DB7690 6.00% 8/1/2054 <sup>(a)</sup>  | 716 | 732 |
| Fannie Mae Pool #DC0296 6.00% 8/1/2054 <sup>(a)</sup>  | 673 | 689 |
| Fannie Mae Pool #FS8783 6.50% 8/1/2054 <sup>(a)</sup>  | 5095 | 5305 |
| Fannie Mae Pool #MA5470 5.50% 9/1/2054 <sup>(a)</sup>  | 44472 | 44505 |
| Fannie Mae Pool #BU4946 5.50% 9/1/2054 <sup>(a)</sup>  | 22421 | 22437 |
| Fannie Mae Pool #CB9210 5.50% 9/1/2054 <sup>(a)</sup>  | 15104 | 15152 |
| Fannie Mae Pool #CB9146 5.50% 9/1/2054 <sup>(a)</sup>  | 9066 | 9116 |
| Fannie Mae Pool #CB9159 6.00% 9/1/2054 <sup>(a)</sup>  | 67740 | 69162 |
| Fannie Mae Pool #BU5048 6.00% 9/1/2054 <sup>(a)</sup>  | 9008 | 9200 |
| Fannie Mae Pool #MA5531 5.50% 11/1/2054 <sup>(a)</sup>  | 4172 | 4175 |
| Fannie Mae Pool #MA5646 5.50% 3/1/2055 <sup>(a)</sup>  | 13892 | 13899 |
| Fannie Mae Pool #MA5697 4.00% 5/1/2055 <sup>(a)</sup>  | 382 | 355 |
| Fannie Mae Pool #MA5701 6.00% 5/1/2055 <sup>(a)</sup>  | 11288 | 11477 |
| Fannie Mae Pool #MA5732 4.00% 6/1/2055 <sup>(a)</sup>  | 336 | 313 |
| Fannie Mae Pool #BF0546 2.50% 7/1/2061 <sup>(a)</sup>  | 9295 | 7393 |
| Fannie Mae Pool #BF0762 3.00% 9/1/2063 <sup>(a)</sup>  | 4489 | 3798 |
| Fannie Mae Pool #BF0784 3.50% 12/1/2063 <sup>(a)</sup>  | 6590 | 5839 |
| Fannie Mae Pool #DD9323 4.00% 4/1/2055 <sup>(a)</sup>  | 416 | 387 |
| Fannie Mae Pool #MB0294 4.00% 1/1/2055 <sup>(a)</sup>  | 3994 | 3716 |
| Freddie Mac Pool #RA3384 3.00% 8/1/2050 <sup>(a)</sup>  | 2447 | 2142 |
| Freddie Mac Pool #QB3745 2.50% 9/1/2050 <sup>(a)</sup>  | 79 | 66 |
| Freddie Mac Pool #RA3528 2.50% 9/1/2050 <sup>(a)</sup>  | 19 | 16 |
| Freddie Mac Pool #RA4206 2.50% 12/1/2050 <sup>(a)</sup>  | 622 | 517 |
| Freddie Mac Pool #QB8605 2.00% 2/1/2051 <sup>(a)</sup>  | 8264 | 6640 |
| Freddie Mac Pool #QB8797 2.50% 2/1/2051 <sup>(a)</sup>  | 1590 | 1320 |
| Freddie Mac Pool #QC0462 2.00% 4/1/2051 <sup>(a)</sup>  | 16995 | 13472 |
| Freddie Mac Pool #QC0576 2.50% 4/1/2051 <sup>(a)</sup>  | 2032 | 1688 |
| Freddie Mac Pool #QC1187 2.50% 4/1/2051 <sup>(a)</sup>  | 1549 | 1286 |
| Freddie Mac Pool #QC0478 2.50% 4/1/2051 <sup>(a)</sup>  | 476 | 395 |
| Freddie Mac Pool #QC3532 2.50% 6/1/2051 <sup>(a)</sup>  | 2882 | 2393 |
| Freddie Mac Pool #SD0644 2.50% 7/1/2051 <sup>(a)</sup>  | 11369 | 9526 |
| Freddie Mac Pool #SD8160 2.00% 8/1/2051 <sup>(a)</sup>  | 1952 | 1554 |
| Freddie Mac Pool #QC5798 2.00% 8/1/2051 <sup>(a)</sup>  | 1496 | 1190 |
| Freddie Mac Pool #QC5137 2.50% 8/1/2051 <sup>(a)</sup>  | 8776 | 7290 |
| Freddie Mac Pool #QC5527 2.50% 8/1/2051 <sup>(a)</sup>  | 589 | 489 |
| Freddie Mac Pool #SD8166 2.00% 9/1/2051 <sup>(a)</sup>  | 1375 | 1093 |
| Freddie Mac Pool #SD7545 2.50% 9/1/2051 <sup>(a)</sup>  | 849 | 716 |
| Freddie Mac Pool #RA6136 2.50% 10/1/2051 <sup>(a)</sup>  | 3822 | 3173 |
| Freddie Mac Pool #SD1345 2.50% 10/1/2051 <sup>(a)</sup>  | 2626 | 2181 |
| Freddie Mac Pool #SD2880 3.00% 10/1/2051 <sup>(a)</sup>  | 13434 | 11735 |
| Freddie Mac Pool #QD1841 2.00% 11/1/2051 <sup>(a)</sup>  | 6246 | 4954 |
| Freddie Mac Pool #RA6237 2.00% 11/1/2051 <sup>(a)</sup>  | 1189 | 942 |
| Freddie Mac Pool #SD8182 2.00% 12/1/2051 <sup>(a)</sup>  | 2509 | 1995 |
| Freddie Mac Pool #RA6427 3.00% 12/1/2051 <sup>(a)</sup>  | 506 | 438 |
| Freddie Mac Pool #QD5204 2.50% 1/1/2052 <sup>(a)</sup>  | 54 | 45 |
| Freddie Mac Pool #QD6836 2.00% 2/1/2052 <sup>(a)</sup>  | 1457 | 1155 |
| Freddie Mac Pool #QD6093 2.00% 2/1/2052 <sup>(a)</sup>  | 1319 | 1046 |
| Freddie Mac Pool #QD5748 2.00% 2/1/2052 <sup>(a)</sup>  | 1241 | 984 |
| Freddie Mac Pool #SD8193 2.00% 2/1/2052 <sup>(a)</sup>  | 1051 | 835 |
| Freddie Mac Pool #RA6856 3.00% 2/1/2052 <sup>(a)</sup>  | 2000 | 1735 |
| Freddie Mac Pool #QD5990 3.00% 2/1/2052 <sup>(a)</sup>  | 1000 | 868 |
| Freddie Mac Pool #SD8199 2.00% 3/1/2052 <sup>(a)</sup>  | 16819 | 13361 |
| Freddie Mac Pool #SD5343 2.00% 3/1/2052 <sup>(a)</sup>  | 5573 | 4424 |
| Freddie Mac Pool #RA6973 2.00% 3/1/2052 <sup>(a)</sup>  | 4219 | 3347 |

---

---

| | |
|:---|:---|
| **3** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #QD8103 2.00% 3/1/2052 <sup>(a)</sup>  | USD1,530 | $1213 |
| Freddie Mac Pool #QD8408 2.00% 3/1/2052 <sup>(a)</sup>  | 1199 | 952 |
| Freddie Mac Pool #RA7021 2.50% 3/1/2052 <sup>(a)</sup>  | 56 | 47 |
| Freddie Mac Pool #SD8204 2.00% 4/1/2052 <sup>(a)</sup>  | 4214 | 3347 |
| Freddie Mac Pool #QE0312 2.00% 4/1/2052 <sup>(a)</sup>  | 1701 | 1348 |
| Freddie Mac Pool #SD7554 2.50% 4/1/2052 <sup>(a)</sup>  | 455 | 384 |
| Freddie Mac Pool #QE1005 2.50% 4/1/2052 <sup>(a)</sup>  | 90 | 75 |
| Freddie Mac Pool #QE0025 2.50% 4/1/2052 <sup>(a)</sup>  | 52 | 43 |
| Freddie Mac Pool #QD9323 2.50% 4/1/2052 <sup>(a)</sup>  | 46 | 38 |
| Freddie Mac Pool #SD8213 3.00% 5/1/2052 <sup>(a)</sup>  | 17311 | 15016 |
| Freddie Mac Pool #SD5109 2.00% 6/1/2052 <sup>(a)</sup>  | 7027 | 5580 |
| Freddie Mac Pool #SD4807 2.00% 6/1/2052 <sup>(a)</sup>  | 4502 | 3584 |
| Freddie Mac Pool #SD8220 3.00% 6/1/2052 <sup>(a)</sup>  | 3381 | 2929 |
| Freddie Mac Pool #SD8225 3.00% 7/1/2052 <sup>(a)</sup>  | 16002 | 13879 |
| Freddie Mac Pool #SD1502 4.00% 7/1/2052 <sup>(a)</sup>  | 17623 | 16421 |
| Freddie Mac Pool #SD1406 2.00% 8/1/2052 <sup>(a)</sup>  | 761 | 604 |
| Freddie Mac Pool #QE8579 4.50% 8/1/2052 <sup>(a)</sup>  | 6473 | 6204 |
| Freddie Mac Pool #SD8242 3.00% 9/1/2052 <sup>(a)</sup>  | 17651 | 15309 |
| Freddie Mac Pool #QF0212 4.50% 9/1/2052 <sup>(a)</sup>  | 29618 | 28399 |
| Freddie Mac Pool #QF0213 4.50% 9/1/2052 <sup>(a)</sup>  | 16232 | 15569 |
| Freddie Mac Pool #QE9497 4.50% 9/1/2052 <sup>(a)</sup>  | 7457 | 7147 |
| Freddie Mac Pool #SD1608 4.50% 9/1/2052 <sup>(a)</sup>  | 4360 | 4181 |
| Freddie Mac Pool #QF1236 4.50% 10/1/2052 <sup>(a)</sup>  | 42539 | 40776 |
| Freddie Mac Pool #SD2465 4.50% 10/1/2052 <sup>(a)</sup>  | 2891 | 2772 |
| Freddie Mac Pool #SD8258 5.00% 10/1/2052 <sup>(a)</sup>  | 15287 | 15064 |
| Freddie Mac Pool #SD8263 3.00% 11/1/2052 <sup>(a)</sup>  | 2000 | 1734 |
| Freddie Mac Pool #SD2602 3.00% 12/1/2052 <sup>(a)</sup>  | 4481 | 3883 |
| Freddie Mac Pool #SD8276 5.00% 12/1/2052 <sup>(a)</sup>  | 33711 | 33217 |
| Freddie Mac Pool #SD8284 3.00% 1/1/2053 <sup>(a)</sup>  | 2000 | 1733 |
| Freddie Mac Pool #SD8288 5.00% 1/1/2053 <sup>(a)</sup>  | 97047 | 95621 |
| Freddie Mac Pool #QF5426 5.00% 1/1/2053 <sup>(a)</sup>  | 9150 | 9015 |
| Freddie Mac Pool #QF7590 5.00% 2/1/2053 <sup>(a)</sup>  | 15073 | 14850 |
| Freddie Mac Pool #QF8385 5.00% 2/1/2053 <sup>(a)</sup>  | 2284 | 2250 |
| Freddie Mac Pool #QF9074 5.00% 2/1/2053 <sup>(a)</sup>  | 947 | 935 |
| Freddie Mac Pool #SD2515 5.00% 3/1/2053 <sup>(a)</sup>  | 85784 | 84524 |
| Freddie Mac Pool #QF8705 5.00% 3/1/2053 <sup>(a)</sup>  | 21555 | 21236 |
| Freddie Mac Pool #SD2716 5.00% 4/1/2053 <sup>(a)</sup>  | 6751 | 6672 |
| Freddie Mac Pool #SD8315 5.00% 4/1/2053 <sup>(a)</sup>  | 91 | 89 |
| Freddie Mac Pool #RA8647 4.50% 5/1/2053 <sup>(a)</sup>  | 2968 | 2846 |
| Freddie Mac Pool #SD8329 5.00% 6/1/2053 <sup>(a)</sup>  | 38168 | 37509 |
| Freddie Mac Pool #RA9279 6.00% 6/1/2053 <sup>(a)</sup>  | 403 | 412 |
| Freddie Mac Pool #RA9283 6.00% 6/1/2053 <sup>(a)</sup>  | 348 | 355 |
| Freddie Mac Pool #RA9281 6.00% 6/1/2053 <sup>(a)</sup>  | 247 | 253 |
| Freddie Mac Pool #RA9284 6.00% 6/1/2053 <sup>(a)</sup>  | 194 | 200 |
| Freddie Mac Pool #SD8341 5.00% 7/1/2053 <sup>(a)</sup>  | 100 | 99 |
| Freddie Mac Pool #SD4999 5.00% 8/1/2053 <sup>(a)</sup>  | 28255 | 27836 |
| Freddie Mac Pool #SD3512 6.00% 8/1/2053 <sup>(a)</sup>  | 2472 | 2517 |
| Freddie Mac Pool #RJ0147 2.50% 9/1/2053 <sup>(a)</sup>  | 373 | 310 |
| Freddie Mac Pool #SD8362 5.50% 9/1/2053 <sup>(a)</sup>  | 9842 | 9858 |
| Freddie Mac Pool #SL0419 3.00% 10/1/2053 <sup>(a)</sup>  | 9029 | 7821 |
| Freddie Mac Pool #SD4977 5.00% 11/1/2053 <sup>(a)</sup>  | 182674 | 179518 |
| Freddie Mac Pool #RJ0326 6.50% 11/1/2053 <sup>(a)</sup>  | 1397 | 1450 |
| Freddie Mac Pool #SD8386 7.00% 12/1/2053 <sup>(a)</sup>  | 1573 | 1660 |
| Freddie Mac Pool #SD6284 2.00% 1/1/2054 <sup>(a)</sup>  | 5914 | 4692 |
| Freddie Mac Pool #SD8398 7.00% 1/1/2054 <sup>(a)</sup>  | — <br><sup>(b)</sup><br>| — <br><sup>(b)</sup><br>|
| Freddie Mac Pool #QI3333 6.00% 4/1/2054 <sup>(a)</sup>  | 999 | 1021 |
| Freddie Mac Pool #SD5221 6.50% 4/1/2054 <sup>(a)</sup>  | 5032 | 5238 |
| Freddie Mac Pool #SD5692 6.00% 5/1/2054 <sup>(a)</sup>  | 1264 | 1297 |
| Freddie Mac Pool #SD5701 6.50% 6/1/2054 <sup>(a)</sup>  | 4630 | 4821 |
| Freddie Mac Pool #SD5873 6.00% 7/1/2054 <sup>(a)</sup>  | 9191 | 9361 |
| Freddie Mac Pool #RJ1964 6.00% 7/1/2054 <sup>(a)</sup>  | 9098 | 9356 |
| Freddie Mac Pool #RJ1975 6.00% 7/1/2054 <sup>(a)</sup>  | 6757 | 6884 |
| Freddie Mac Pool #SD5896 6.00% 7/1/2054 <sup>(a)</sup>  | 1906 | 1943 |
| Freddie Mac Pool #QI9151 6.50% 7/1/2054 <sup>(a)</sup>  | 5938 | 6183 |
| Freddie Mac Pool #SD6286 5.50% 8/1/2054 <sup>(a)</sup>  | 4617 | 4651 |
| Freddie Mac Pool #RJ2216 6.00% 8/1/2054 <sup>(a)</sup>  | 33527 | 34159 |

---

American Funds Strategic Bond Fund<sub>4</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** | **Federal agency mortgage-backed obligations (continued)** |
| Freddie Mac Pool #RJ2222 6.50% 8/1/2054 <sup>(a)</sup>  | USD17,793 | $18531 |
| Freddie Mac Pool #SD6034 6.50% 8/1/2054 <sup>(a)</sup>  | 10465 | 10899 |
| Freddie Mac Pool #RJ2247 6.50% 8/1/2054 <sup>(a)</sup>  | 6307 | 6564 |
| Freddie Mac Pool #SD6047 6.50% 8/1/2054 <sup>(a)</sup>  | 3804 | 3962 |
| Freddie Mac Pool #RJ2228 6.50% 8/1/2054 <sup>(a)</sup>  | 3752 | 3887 |
| Freddie Mac Pool #SD6035 6.50% 8/1/2054 <sup>(a)</sup>  | 2602 | 2710 |
| Freddie Mac Pool #QJ3044 5.50% 9/1/2054 <sup>(a)</sup>  | 45708 | 45741 |
| Freddie Mac Pool #SD8462 5.50% 9/1/2054 <sup>(a)</sup>  | 44390 | 44423 |
| Freddie Mac Pool #RJ2422 5.50% 9/1/2054 <sup>(a)</sup>  | 18768 | 18828 |
| Freddie Mac Pool #RJ2415 5.50% 9/1/2054 <sup>(a)</sup>  | 7933 | 7988 |
| Freddie Mac Pool #RJ2408 5.50% 9/1/2054 <sup>(a)</sup>  | 7142 | 7156 |
| Freddie Mac Pool #SD6578 6.00% 9/1/2054 <sup>(a)</sup>  | 48602 | 49701 |
| Freddie Mac Pool #RJ2314 6.00% 9/1/2054 <sup>(a)</sup>  | 26700 | 27203 |
| Freddie Mac Pool #RJ2308 6.00% 9/1/2054 <sup>(a)</sup>  | 13733 | 14094 |
| Freddie Mac Pool #RJ2306 6.00% 9/1/2054 <sup>(a)</sup>  | 12766 | 13099 |
| Freddie Mac Pool #RJ2309 6.00% 9/1/2054 <sup>(a)</sup>  | 8194 | 8349 |
| Freddie Mac Pool #SD6271 6.50% 9/1/2054 <sup>(a)</sup>  | 4626 | 4797 |
| Freddie Mac Pool #RJ2474 6.50% 9/1/2054 <sup>(a)</sup>  | 4112 | 4260 |
| Freddie Mac Pool #RJ2320 6.50% 9/1/2054 <sup>(a)</sup>  | 3320 | 3457 |
| Freddie Mac Pool #RJ2411 6.50% 9/1/2054 <sup>(a)</sup>  | 2844 | 2956 |
| Freddie Mac Pool #QJ4693 6.50% 9/1/2054 <sup>(a)</sup>  | 2275 | 2369 |
| Freddie Mac Pool #RJ2325 6.50% 9/1/2054 <sup>(a)</sup>  | 1790 | 1860 |
| Freddie Mac Pool #RJ2470 6.50% 9/1/2054 <sup>(a)</sup>  | 1508 | 1562 |
| Freddie Mac Pool #SD8469 5.50% 10/1/2054 <sup>(a)</sup>  | 56394 | 56436 |
| Freddie Mac Pool #SD8475 5.50% 11/1/2054 <sup>(a)</sup>  | 81046 | 81106 |
| Freddie Mac Pool #QX1414 5.50% 12/1/2054 <sup>(a)</sup>  | 123 | 123 |
| Freddie Mac Pool #RJ4292 5.50% 2/1/2055 <sup>(a)</sup>  | 5996 | 5999 |
| Freddie Mac Pool #SD8506 5.50% 2/1/2055 <sup>(a)</sup>  | 2210 | 2211 |
| Freddie Mac Pool #SL0585 5.50% 3/1/2055 <sup>(a)</sup>  | 232 | 232 |
| Freddie Mac Pool #QY1239 4.00% 4/1/2055 <sup>(a)</sup>  | 1695 | 1578 |
| Freddie Mac Pool #SD8525 6.00% 4/1/2055 <sup>(a)</sup>  | 34933 | 35520 |
| Freddie Mac Pool #QY2903 4.00% 5/1/2055 <sup>(a)</sup>  | 7615 | 7086 |
| Freddie Mac Pool #QY3685 4.00% 5/1/2055 <sup>(a)</sup>  | 4754 | 4423 |
| Freddie Mac Pool #RQ0019 4.00% 5/1/2055 <sup>(a)</sup>  | 401 | 373 |
| Freddie Mac Pool #SD8534 6.00% 5/1/2055 <sup>(a)</sup>  | 9262 | 9417 |
| Freddie Mac Pool #RQ0010 4.00% 6/1/2055 <sup>(a)</sup>  | 499 | 464 |
| Freddie Mac Pool #RQ0012 5.00% 6/1/2055 <sup>(a)</sup>  | 5602 | 5493 |
| Freddie Mac, Series K142, Class A2, 2.40% 3/25/2032 <sup>(a)</sup>  | 24762 | 22018 |
| Government National Mortgage Assn. Pool #MA7881 2.50% 2/20/2052 <sup>(a)</sup>  | 6543 | 5566 |
| Government National Mortgage Assn. Pool #MA7987 2.50% 4/20/2052 <sup>(a)</sup>  | 6940 | 5904 |
| Government National Mortgage Assn. Pool #MA8346 4.00% 10/20/2052 <sup>(a)</sup>  | 70727 | 66267 |
| Government National Mortgage Assn. Pool #MA8426 4.00% 11/20/2052 <sup>(a)</sup>  | 36113 | 33728 |
| Government National Mortgage Assn. Pool #MA9014 4.00% 7/20/2053 <sup>(a)</sup>  | 78056 | 72915 |
| Government National Mortgage Assn. Pool #MA9776 4.00% 7/20/2054 <sup>(a)</sup>  | 22593 | 21042 |
| Uniform Mortgage-Backed Security 2.00% 7/1/2055 <sup>(a)(c)</sup>  | 195864 | 155096 |
| Uniform Mortgage-Backed Security 2.50% 7/1/2055 <sup>(a)(c)</sup>  | 198227 | 164386 |
| Uniform Mortgage-Backed Security 3.00% 7/1/2055 <sup>(a)(c)</sup>  | 4659 | 4032 |
| Uniform Mortgage-Backed Security 3.50% 7/1/2055 <sup>(a)(c)</sup>  | 4605 | 4146 |
| Uniform Mortgage-Backed Security 5.50% 7/1/2055 <sup>(a)(c)</sup>  | 24716 | 24714 |
| Uniform Mortgage-Backed Security 6.00% 7/1/2055 <sup>(a)(c)</sup>  | 897905 | 912522 |
| Uniform Mortgage-Backed Security 7.00% 7/1/2055 <sup>(a)(c)</sup>  | 19474 | 20505 |
| Uniform Mortgage-Backed Security 3.00% 8/1/2055 <sup>(a)(c)</sup>  | 126016 | 109031 |
| Uniform Mortgage-Backed Security 3.50% 8/1/2055 <sup>(a)(c)</sup>  | 74662 | 67208 |
| Uniform Mortgage-Backed Security 7.00% 8/1/2055 <sup>(a)(c)</sup>  | 16147 | 16939 |
|  |  | 5603709 |
| **Commercial mortgage-backed securities 5.19%** | **Commercial mortgage-backed securities 5.19%** | **Commercial mortgage-backed securities 5.19%** |
| 3650R Commercial Mortgage Trust, Series 2022-PF2, Class B, 5.291% 11/15/2055 <sup>(a)(d)</sup>  | 3591 | 3517 |
| 3650R Commercial Mortgage Trust, Series 2022-PF2, Class AS, 5.291% 11/15/2055 <sup>(a)(d)</sup>  | 2000 | 2002 |
| ALA Trust, Series 2025-OANA, Class A, (1-month USD CME Term SOFR + 1.7426%) 6.043% 6/15/2040 <sup>(a)(d)(e)</sup>  | 28400 | 28600 |
| ALA Trust, Series 2025-OANA, Class C, (1-month USD CME Term SOFR + 2.0921%) 6.392% 6/15/2040 <sup>(a)(d)(e)</sup>  | 2856 | 2863 |
| AMSR Trust, Series 2025-SFR1, Class D, 3.655% 6/17/2042 <sup>(a)(e)</sup>  | 426 | 390 |
| Arbor Multi Family Mortgage Securities Trust, Series 2020-MF1, Class B, 3.597% 5/15/2053 <sup>(a)(d)</sup>  | 1500 | 1415 |
| Arbor Multi Family Mortgage Securities Trust, Series 2021-MF3, Class B, 2.511% 10/15/2054 <sup>(a)(e)</sup>  | 375 | 322 |
| Atrium Hotel Portfolio Trust, Series 2024-ATRM, Class D, 7.679% 11/10/2029 <sup>(a)(d)(e)</sup>  | 5903 | 6000 |

---

---

| | |
|:---|:---|
| **5** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Banc of America Commercial Mortgage, Inc., Series 2016-UB10, Class C, 4.82% 7/15/2049 <sup>(a)(d)</sup>  | USD2,500 | $2409 |
| Bank Commercial Mortgage Trust, Series 2023-5YR2, Class C, 7.164% 7/15/2028 <sup>(a)(d)</sup>  | 915 | 949 |
| Bank Commercial Mortgage Trust, Series 2021-BN35, Class B, 2.528% 8/15/2031 <sup>(a)(d)</sup>  | 5000 | 4226 |
| Bank Commercial Mortgage Trust, Series 2022-BNK44, Class B, 5.746% 11/15/2032 <sup>(a)(d)</sup>  | 1111 | 1126 |
| Bank Commercial Mortgage Trust, Series 2019-BN23, Class C, 3.503% 12/15/2052 <sup>(a)(d)</sup>  | 2994 | 2641 |
| Bank Commercial Mortgage Trust, Series 2022-BNK43, Class B, 5.151% 8/15/2055 <sup>(a)(d)</sup>  | 1750 | 1660 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class B, 6.148% 2/15/2056 <sup>(a)(d)</sup>  | 1873 | 1949 |
| Bank Commercial Mortgage Trust, Series 2023-BNK45, Class C, 6.489% 2/15/2056 <sup>(a)(d)</sup>  | 1297 | 1322 |
| Bank Commercial Mortgage Trust, Series 2023-5YR1, Class B, 6.41% 3/15/2056 <sup>(a)(d)</sup>  | 1741 | 1815 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class C, 6.774% 8/15/2056 <sup>(a)(d)</sup>  | 1480 | 1556 |
| Bank Commercial Mortgage Trust, Series 2023-BNK46, Class B, 6.774% 8/15/2056 <sup>(a)(d)</sup>  | 1193 | 1276 |
| Bank Commercial Mortgage Trust, Series 2023-5YR4, Class C, 7.605% 12/15/2056 <sup>(a)(d)</sup>  | 4 | 5 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class C, 6.419% 8/15/2057 <sup>(a)(d)</sup>  | 1245 | 1278 |
| Bank Commercial Mortgage Trust, Series 2024-5YR9, Class B, 6.483% 8/15/2057 <sup>(a)(d)</sup>  | 1866 | 1946 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class A3, 5.893% 11/15/2057 <sup>(a)</sup>  | 35763 | 37498 |
| Bank Commercial Mortgage Trust, Series 2024-5YR11, Class B, 6.322% 11/15/2057 <sup>(a)(d)</sup>  | 1578 | 1645 |
| Bank Commercial Mortgage Trust, Series 2024-5YR12, Class B, 6.277% 12/15/2057 <sup>(a)(d)</sup>  | 1327 | 1381 |
| Bank Commercial Mortgage Trust, Series 2025-BNK49, Class A5, 5.623% 3/15/2058 <sup>(a)(d)</sup>  | 19401 | 20307 |
| Bank Commercial Mortgage Trust, Series 2017-BNK5, Class C, 4.21% 6/15/2060 <sup>(a)(d)</sup>  | 1900 | 1805 |
| Bank Commercial Mortgage Trust, Series 2017-BNK7, Class C, 3.981% 9/15/2060 <sup>(a)(d)</sup>  | 1964 | 1763 |
| Bank Commercial Mortgage Trust, Series 2019-BN18, Class C, 4.211% 5/15/2062 <sup>(a)(d)</sup>  | 2500 | 2102 |
| Bank Commercial Mortgage Trust, Series 2019-BN20, Class B, 3.395% 9/15/2062 <sup>(a)(d)</sup>  | 1905 | 1641 |
| Bank Commercial Mortgage Trust, Series 2020-BN25, Class C, 3.349% 1/15/2063 <sup>(a)(d)</sup>  | 3340 | 2921 |
| Bank Commercial Mortgage Trust, Series 2020-BN26, Class C, 3.414% 3/15/2063 <sup>(a)(d)</sup>  | 4215 | 3577 |
| Bank Commercial Mortgage Trust, Series 2022-BNK40, Class AS, 3.504% 3/15/2064 <sup>(a)(d)</sup>  | 750 | 671 |
| Bank Commercial Mortgage Trust, Series 2022-BNK40, Class B, 3.507% 3/15/2064 <sup>(a)(d)</sup>  | 727 | 637 |
| Bank Commercial Mortgage Trust, Series 2021-BN36, Class B, 2.867% 9/15/2064 <sup>(a)</sup>  | 5750 | 4897 |
| Bank5, Series 2025-5YR14, Class C, 6.463% 4/15/2058 <sup>(a)(d)</sup>  | 3993 | 4111 |
| Bank5, Series 2025-5YR14, Class B, 6.474% 4/15/2058 <sup>(a)(d)</sup>  | 4192 | 4472 |
| Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A, ((1-month USD CME Term SOFR + <br> 0.047%) + 0.872%) 5.231% 3/15/2037 <sup>(a)(d)(e)</sup>  | 2667 | 2526 |
| Barclays Commercial Mortgage Securities, LLC, Series 2017-C1, Class B, 4.089% 2/15/2050 <sup>(a)</sup>  | 3564 | 3327 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C15, Class C, 3.931% 4/15/2055 <sup>(a)(d)</sup>  | 4842 | 4106 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C17, Class B, 4.889% 9/15/2055 <sup>(a)(d)</sup>  | 2054 | 1972 |
| Barclays Commercial Mortgage Securities, LLC, Series 2022-C18, Class C, 6.151% 12/15/2055 <sup>(a)(d)</sup>  | 5194 | 5294 |
| Barclays Commercial Mortgage Securities, LLC, Series 2023-C22, Class C, 7.131% 11/15/2056 <sup>(a)(d)</sup>  | 457 | 465 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C24, Class C, 6.00% 2/15/2057 <sup>(a)</sup>  | 207 | 207 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C26, Class C, 6.00% 5/15/2057 <sup>(a)(d)</sup>  | 3071 | 3095 |
| Barclays Commercial Mortgage Securities, LLC, Series 24-5C27, Class B, 6.70% 7/15/2057 <sup>(a)(d)</sup>  | 1828 | 1917 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C29, Class C, 5.512% 9/15/2057 <sup>(a)</sup>  | 31 | 31 |
| Barclays Commercial Mortgage Securities, LLC, Series 24-C28, Class B, 5.894% 9/15/2057 <sup>(a)(d)</sup>  | 1590 | 1627 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C30, Class C, 5.98% 11/15/2057 <sup>(a)(d)</sup>  | 826 | 829 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-C30, Class B, 6.031% 11/15/2057 <sup>(a)(d)</sup>  | 707 | 731 |
| Barclays Commercial Mortgage Securities, LLC, Series 2024-5C31, Class C, 5.756% 12/15/2057 <sup>(a)</sup>  | 642 | 644 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C34, Class B, 6.542% 5/15/2058 <sup>(a)(d)</sup>  | 590 | 621 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-5C34, Class C, 6.807% 5/15/2058 <sup>(a)(d)</sup>  | 1500 | 1575 |
| Barclays Commercial Mortgage Securities, LLC, Series 2025-C32, Class C, 6.125% 2/15/2062 <sup>(a)</sup>  | 2394 | 2432 |
| Benchmark Mortgage Trust, Series 2018-B1, Class B, 4.059% 1/15/2051 <sup>(a)(d)</sup>  | 1328 | 1228 |
| Benchmark Mortgage Trust, Series 2018-B2, Class B, 4.308% 2/15/2051 <sup>(a)(d)</sup>  | 2325 | 2084 |
| Benchmark Mortgage Trust, Series 2018-B3, Class B, 4.295% 4/10/2051 <sup>(a)(d)</sup>  | 1500 | 1396 |
| Benchmark Mortgage Trust, Series 2019-B11, Class B, 3.955% 5/15/2052 <sup>(a)(d)</sup>  | 2500 | 2183 |
| Benchmark Mortgage Trust, Series 2020-B20, Class B, 2.527% 10/15/2053 <sup>(a)</sup>  | 1075 | 845 |
| Benchmark Mortgage Trust, Series 2020-B21, Class C, 3.329% 12/17/2053 <sup>(a)(d)</sup>  | 1000 | 813 |
| Benchmark Mortgage Trust, Series 2021-B23, Class B, 2.095% 2/15/2054 <sup>(a)</sup>  | 1995 | 1505 |
| Benchmark Mortgage Trust, Series 2021-B23, Class C, 2.563% 2/15/2054 <sup>(a)(d)</sup>  | 1500 | 1101 |
| Benchmark Mortgage Trust, Series 2021-B24, Class C, 3.293% 3/15/2054 <sup>(a)(d)</sup>  | 3895 | 2891 |
| Benchmark Mortgage Trust, Series 2021-B25, Class B, 2.635% 4/15/2054 <sup>(a)</sup>  | 500 | 403 |
| Benchmark Mortgage Trust, Series 2022-B34, Class A5, 3.786% 4/15/2055 <sup>(a)(d)</sup>  | 3368 | 3099 |
| Benchmark Mortgage Trust, Series 2022-B35, Class C, 4.594% 5/15/2055 <sup>(a)(d)</sup>  | 2407 | 1972 |
| Benchmark Mortgage Trust, Series 2022-B36, Class B, 4.87% 7/15/2055 <sup>(a)(d)</sup>  | 2500 | 2434 |
| Benchmark Mortgage Trust, Series 2023-V3, Class B, 6.924% 7/15/2056 <sup>(a)</sup>  | 1498 | 1561 |
| Benchmark Mortgage Trust, Series 2023-B40, Class B, 6.581% 12/15/2056 <sup>(a)(d)</sup>  | 1786 | 1887 |
| Benchmark Mortgage Trust, Series 2024-V5, Class C, 6.973% 1/10/2057 <sup>(a)(d)</sup>  | 184 | 191 |
| Benchmark Mortgage Trust, Series 2024-V8, Class B, 6.947% 7/15/2057 <sup>(a)(d)</sup>  | 1422 | 1511 |
| Benchmark Mortgage Trust, Series 2019-B13, Class B, 3.335% 8/15/2057 <sup>(a)(d)</sup>  | 4087 | 3573 |
| Benchmark Mortgage Trust, Series 2024-V9, Class B, 6.466% 8/15/2057 <sup>(a)</sup>  | 867 | 902 |

---

American Funds Strategic Bond Fund<sub>6</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Benchmark Mortgage Trust, Series 2024-V11, Class B, 6.373% 11/15/2057 <sup>(a)(d)</sup>  | USD1,216 | $1268 |
| Benchmark Mortgage Trust, Series 2025-V14, Class C, 6.603% 4/15/2058 <sup>(a)(d)</sup>  | 2000 | 2051 |
| Benchmark Mortgage Trust, Series 2025-V15, Class C, 6.268% 6/15/2058 <sup>(a)(d)</sup>  | 1578 | 1611 |
| Benchmark Mortgage Trust, Series 2025-V15, Class B, 6.425% 6/15/2058 <sup>(a)(d)</sup>  | 1236 | 1296 |
| BLP Commercial Mortgage Trust, Series 2024-IND2, Class D, (1-month USD CME Term SOFR + 2.59%) 6.902% <br>3/15/2041 <sup>(a)(d)(e)</sup>  | 1919 | 1921 |
| BMO Mortgage Trust, Series 2023-C4, Class B, 5.395% 2/15/2056 <sup>(a)(d)</sup>  | 948 | 962 |
| BMO Mortgage Trust, Series 2023-5C1, Class A3, 6.534% 8/15/2056 <sup>(a)(d)</sup>  | 41374 | 43497 |
| BMO Mortgage Trust, Series 2023-5C1, Class B, 6.96% 8/15/2056 <sup>(a)(d)</sup>  | 2804 | 2940 |
| BMO Mortgage Trust, Series 2023-5C1, Class C, 7.117% 8/15/2056 <sup>(a)(d)</sup>  | 1075 | 1113 |
| BMO Mortgage Trust, Series 2024-5C3, Class D, 4.00% 2/15/2057 <sup>(a)(e)</sup>  | 167 | 148 |
| BMO Mortgage Trust, Series 2024-5C3, Class C, 6.859% 2/15/2057 <sup>(a)(d)</sup>  | 1372 | 1404 |
| BMO Mortgage Trust, Series 2024-5C5, Class B, 6.98% 2/15/2057 <sup>(a)(d)</sup>  | 1620 | 1697 |
| BMO Mortgage Trust, Series 2024-5C5, Class C, 7.112% 2/15/2057 <sup>(a)(d)</sup>  | 1175 | 1213 |
| BMO Mortgage Trust, Series 2024-5C4, Class C, 7.019% 5/15/2057 <sup>(a)(d)</sup>  | 854 | 882 |
| BMO Mortgage Trust, Series 2024-C9, Class B, 6.561% 7/15/2057 <sup>(a)(d)</sup>  | 1422 | 1507 |
| BMO Mortgage Trust, Series 2024-5C6, Class C, 5.885% 9/15/2057 <sup>(a)(d)</sup>  | 575 | 575 |
| BMO Mortgage Trust, Series 2024-C10, Class C, 5.979% 11/15/2057 <sup>(a)(d)</sup>  | 896 | 895 |
| BMO Mortgage Trust, Series 2024-C10, Class B, 6.079% 11/15/2057 <sup>(a)(d)</sup>  | 578 | 592 |
| BMO Mortgage Trust, Series 2024-5C7, Class B, 6.198% 11/15/2057 <sup>(a)(d)</sup>  | 1000 | 1034 |
| BMO Mortgage Trust, Series 2024-5C8, Class C, 5.744% 12/15/2057 <sup>(a)(d)</sup>  | 645 | 649 |
| BMO Mortgage Trust, Series 2025-C11, Class C, 6.123% 2/15/2058 <sup>(a)(d)</sup>  | 296 | 301 |
| BMP Trust, Series 2024-MF23, Class E, (1-month USD CME Term SOFR + 3.389%) 7.701% 6/15/2041 <sup>(a)(d)(e)</sup>  | 3611 | 3610 |
| BOCA Commercial Mortgage Trust, Series 2024-BOCA, Class B, (1-month USD CME Term SOFR + 2.839%) <br> 7.151% 8/15/2041 <sup>(a)(d)(e)</sup>  | 1460 | 1470 |
| BX Trust, Series 2024-FNX, Class D, (1-month USD CME Term SOFR + 2.94%) 7.252% 11/15/2026 <sup>(a)(d)(e)</sup>  | 5394 | 5417 |
| BX Trust, Series 2022-CSMO, Class B, (1-month USD CME Term SOFR + 3.141%) 7.452% 6/15/2027 <sup>(a)(d)(e)</sup>  | 3000 | 3030 |
| BX Trust, Series 24-VLT4, Class E, (1-month USD CME Term SOFR + 2.889%) 7.218% 7/15/2029 <sup>(a)(d)(e)</sup>  | 3998 | 3986 |
| BX Trust, Series 2024-KING, Class A, (1-month USD CME Term SOFR + 1.541%) 5.853% 5/15/2034 <sup>(a)(d)(e)</sup>  | 17031 | 17054 |
| BX Trust, Series 2024-KING, Class C, (1-month USD CME Term SOFR + 1.94%) 6.252% 5/15/2034 <sup>(a)(d)(e)</sup>  | 533 | 534 |
| BX Trust, Series 2024-KING, Class D, (1-month USD CME Term SOFR + 2.49%) 6.801% 5/15/2034 <sup>(a)(d)(e)</sup>  | 984 | 985 |
| BX Trust, Series 2021-SDMF, Class E, (1-month USD CME Term SOFR + 1.701%) 6.013% 9/15/2034 <sup>(a)(d)(e)</sup>  | 980 | 971 |
| BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 5.126% 9/15/2036 <sup>(a)(d)(e)</sup>  | 22158 | 22096 |
| BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 5.376% 9/15/2036 <sup>(a)(d)(e)</sup>  | 2002 | 1994 |
| BX Trust, Series 2021-VOLT, Class E, (1-month USD CME Term SOFR + 2.114%) 6.426% 9/15/2036 <sup>(a)(d)(e)</sup>  | 2732 | 2721 |
| BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 5.723% 10/15/2036 <sup>(a)(d)(e)</sup>  | 9946 | 9938 |
| BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 6.072% 10/15/2036 <sup>(a)(d)(e)</sup>  | 9960 | 9951 |
| BX Trust, Series 2021-ARIA, Class D, (1-month USD CME Term SOFR + 2.01%) 6.321% 10/15/2036 <sup>(a)(d)(e)</sup>  | 3450 | 3446 |
| BX Trust, Series 2022-IND, Class D, (1-month USD CME Term SOFR + 2.839%) 7.151% 4/15/2037 <sup>(a)(d)(e)</sup>  | 3032 | 3043 |
| BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 5.296% 6/15/2038 <sup>(a)(d)(e)</sup>  | 3102 | 3103 |
| BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 5.526% 6/15/2038 <sup>(a)(d)(e)</sup>  | 2802 | 2802 |
| BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 5.826% 6/15/2038 <sup>(a)(d)(e)</sup>  | 10632 | 10633 |
| BX Trust, Series 2021-ACNT, Class B, (1-month USD CME Term SOFR + 1.364%) 5.676% 11/15/2038 <sup>(a)(d)(e)</sup>  | 5988 | 5984 |
| BX Trust, Series 2021-ACNT, Class D, (1-month USD CME Term SOFR + 1.964%) 6.276% 11/15/2038 <sup>(a)(d)(e)</sup>  | 3845 | 3840 |
| BX Trust, Series 2021-ACNT, Class E, (1-month USD CME Term SOFR + 2.311%) 6.623% 11/15/2038 <sup>(a)(d)(e)</sup>  | 467 | 467 |
| BX Trust, Series 2022-AHP, Class C, (1-month USD CME Term SOFR + 2.09%) 6.402% 2/15/2039 <sup>(a)(d)(e)</sup>  | 6500 | 6481 |
| BX Trust, Series 2024-AIRC, Class A, (1-month USD CME Term SOFR + 1.691%) 6.003% 8/15/2039 <sup>(a)(d)(e)</sup>  | 53497 | 53777 |
| BX Trust, Series 2022-PSB, Class B, (1-month USD CME Term SOFR + 2.949%) 7.261% 8/15/2039 <sup>(a)(d)(e)</sup>  | 3205 | 3209 |
| BX Trust, Series 2022-PSB, Class D, (1-month USD CME Term SOFR + 4.693%) 9.005% 8/15/2039 <sup>(a)(d)(e)</sup>  | 5475 | 5481 |
| BX Trust, Series 2024-AIR2, Class D, (1-month USD CME Term SOFR + 2.79%) 7.102% 10/15/2041 <sup>(a)(d)(e)</sup>  | 1393 | 1400 |
| BX Trust, Series 2024-GPA2, Class A, (1-month USD CME Term SOFR + 1.542%) 5.854% 11/15/2041 <sup>(a)(d)(e)</sup>  | 21194 | 21286 |
| BX Trust, Series 2024-GPA2, Class B, (1-month USD CME Term SOFR + 1.892%) 6.204% 11/15/2041 <sup>(a)(d)(e)</sup>  | 16920 | 16977 |
| BX Trust, Series 2024-GPA2, Class D, (1-month USD CME Term SOFR + 2.591%) 6.903% 11/15/2041 <sup>(a)(d)(e)</sup>  | 342 | 343 |
| BX Trust, Series 2024-GPA2, Class E, (1-month USD CME Term SOFR + 3.54%) 7.851% 11/15/2041 <sup>(a)(d)(e)</sup>  | 2044 | 2050 |
| BX Trust, Series 2025-BIO3, Class D, 7.193% 2/10/2042 <sup>(a)(d)(e)</sup>  | 8638 | 8476 |
| BX Trust, Series 2025-BIO3, Class C, 7.193% 2/10/2042 <sup>(a)(d)(e)</sup>  | 1385 | 1411 |
| BX Trust, Series 2025-VLT6, Class D, (1-month USD CME Term SOFR + 2.5916%) 6.903% 3/15/2042 <sup>(a)(d)(e)</sup>  | 3813 | 3813 |
| BX Trust, Series 2025-GW, Class B, (1-month USD CME Term SOFR + 1.85%) 6.15% 7/15/2042 <sup>(a)(d)(e)</sup>  | 3110 | 3122 |
| BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, (1-month USD CME Term SOFR + 3.188%) 7.50% <br> 3/15/2035 <sup>(a)(d)(e)</sup>  | 9692 | 9728 |
| CART, Series 2024-DFW1, Class D, (1-month USD CME Term SOFR + 3.04%) 7.368% 8/15/2041 <sup>(a)(d)(e)</sup>  | 1923 | 1923 |
| CENT Trust 2023-CITY, Series 2023-CITY, Class B, (1-month USD CME Term SOFR + 3.15%) 7.462% <br>9/15/2028 <sup>(a)(d)(e)</sup>  | 2875 | 2881 |
| Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class D, 6.36% 7/10/2028 <sup>(a)(d)(e)</sup>  | 2522 | 2546 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class A, 6.015% 10/12/2040 <sup>(a)(d)(e)</sup>  | 13524 | 13977 |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class D, 6.048% 10/12/2040 <sup>(a)(d)(e)</sup>  | 5926 | 5916 |

---

---

| | |
|:---|:---|
| **7** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 6.048% 10/12/2040 <sup>(a)(d)(e)</sup>  | USD980 | $993 |
| Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class B, 4.345% 10/10/2047 <sup>(a)(d)</sup>  | 1386 | 1344 |
| Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C, 4.113% 4/10/2048 <sup>(a)(d)</sup>  | 2500 | 2277 |
| Citigroup Commercial Mortgage Trust, Series 2015-P1, Class B, 4.444% 9/15/2048 <sup>(a)(d)</sup>  | 1185 | 1176 |
| Citigroup Commercial Mortgage Trust, Series 2018-B2, Class B, 4.28% 3/10/2051 <sup>(a)(d)</sup>  | 3300 | 3045 |
| Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class B, 3.15% 2/15/2053 <sup>(a)(d)</sup>  | 675 | 589 |
| Citigroup Commercial Mortgage Trust, Series 2022-GC48, Class C, 4.875% 5/15/2054 <sup>(a)(d)</sup>  | 3659 | 3401 |
| Commercial Mortgage Trust, Series 2020-CX, Class D, 2.684% 11/10/2046 <sup>(a)(d)(e)</sup>  | 415 | 339 |
| Commercial Mortgage Trust, Series 2020-CX, Class E, 2.773% 11/10/2046 <sup>(a)(d)(e)</sup>  | 195 | 150 |
| Commercial Mortgage Trust, Series 2014-UBS6, Class C, 4.41% 12/10/2047 <sup>(a)(d)</sup>  | 100 | 99 |
| Commercial Mortgage Trust, Series 2019-GC44, Class C, 3.644% 8/15/2057 <sup>(a)(d)</sup>  | 4000 | 3331 |
| CSAIL Commercial Mortgage Trust, Series 2016-C5, Class C, 4.612% 11/15/2048 <sup>(a)(d)</sup>  | 1827 | 1790 |
| DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class D, 5.919% 8/12/2043 <sup>(a)(d)(e)</sup>  | 3320 | 3071 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class A, 6.314% 9/10/2040 <sup>(a)(e)</sup>  | 24515 | 25598 |
| DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.14% 9/10/2040 <sup>(a)(d)(e)</sup>  | 30927 | 31814 |
| ELM Trust 2024, Series 2024-ELM, Class D10, 6.847% 6/10/2039 <sup>(a)(d)(e)</sup>  | 621 | 624 |
| ELM Trust 2024, Series 2024-ELM, Class D15, 6.897% 6/10/2039 <sup>(a)(d)(e)</sup>  | 558 | 561 |
| Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 5.806% <br> 7/15/2038 <sup>(a)(d)(e)</sup>  | 3286 | 3289 |
| Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 6.126% <br> 7/15/2038 <sup>(a)(d)(e)</sup>  | 3433 | 3438 |
| Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD CME Term SOFR + 2.364%) 6.676% <br> 7/15/2038 <sup>(a)(d)(e)</sup>  | 3597 | 3606 |
| FIVE Mortgage Trust, Series 2023-V1, Class B, 6.296% 2/10/2056 <sup>(a)(d)</sup>  | 2477 | 2552 |
| FIVE Mortgage Trust, Series 2023-V1, Class C, 6.296% 2/10/2056 <sup>(a)(d)</sup>  | 1361 | 1380 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class A, (1-month USD CME Term SOFR + 1.45%) 5.762% <br> 12/15/2029 <sup>(a)(d)(e)</sup>  | 2233 | 2236 |
| Fontainebleau Miami Beach Trust, Series 2024-FBLU, Class F, (1-month USD CME Term SOFR + 4.25%) 8.562% <br> 12/15/2029 <sup>(a)(d)(e)</sup>  | 2927 | 2933 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class D, 9.383% 11/10/2039 <sup>(a)(d)(e)</sup>  | 2340 | 2411 |
| Great Wolf Trust, Series 2024-WOLF, Class A, (1-month USD CME Term SOFR + 1.542%) 5.854% 3/15/2039 <sup>(a)(d)(e)</sup>  | 896 | 899 |
| Great Wolf Trust, Series 2024-WOLF, Class D, (1-month USD CME Term SOFR + 2.89%) 7.202% 3/15/2039 <sup>(a)(d)(e)</sup>  | 1809 | 1819 |
| GS Mortgage Securities Trust, Series 2024-70P, Class C, 6.287% 3/10/2041 <sup>(a)(d)(e)</sup>  | 1885 | 1876 |
| GS Mortgage Securities Trust, Series 2024-70P, Class D, 7.531% 3/10/2041 <sup>(a)(d)(e)</sup>  | 2897 | 2951 |
| GS Mortgage Securities Trust, Series 2015-GC32, Class AS, 4.018% 7/10/2048 <sup>(a)(d)</sup>  | 240 | 240 |
| GS Mortgage Securities Trust, Series 2016-GS2, Class B, 3.759% 5/10/2049 <sup>(a)(d)</sup>  | 116 | 114 |
| GS Mortgage Securities Trust, Series 2016-GS2, Class C, 4.695% 5/10/2049 <sup>(a)(d)</sup>  | 1503 | 1453 |
| GS Mortgage Securities Trust, Series 2018-GS10, Class C, 4.547% 7/10/2051 <sup>(a)(d)</sup>  | 5000 | 4496 |
| GS Mortgage Securities Trust, Series 2019-GC40, Class C, 3.946% 7/10/2052 <sup>(a)</sup>  | 3064 | 2555 |
| GS Mortgage Securities Trust, Series 2020-GC45, Class B, 3.405% 2/13/2053 <sup>(a)</sup>  | 100 | 91 |
| GS Mortgage Securities Trust, Series 2020-GC45, Class C, 3.493% 2/13/2053 <sup>(a)(d)</sup>  | 670 | 584 |
| GS Mortgage Securities Trust, Series 2020-GSA2, Class C, 2.989% 12/12/2053 <sup>(a)</sup>  | 2000 | 1574 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class C, (1-month USD CME Term SOFR + 2.042%) 6.354% <br>3/15/2042 <sup>(a)(d)(e)</sup>  | 1407 | 1408 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class D, (1-month USD CME Term SOFR + 2.591%) 6.913% <br>3/15/2042 <sup>(a)(d)(e)</sup>  | 2716 | 2716 |
| Hawaii Hotel Trust, Series 2025-MAUI, Class E, (1-month USD CME Term SOFR + 3.29%) 7.602% <br>3/15/2042 <sup>(a)(d)(e)</sup>  | 6366 | 6245 |
| Hilton USA Trust, Series 2016-HHV, Class D, 4.194% 11/5/2038 <sup>(a)(e)</sup>  | 1000 | 980 |
| Hilton USA Trust, Series 2016-HHV, Class D, 4.194% 11/5/2038 <sup>(a)(e)</sup>  | 300 | 295 |
| Houston Galleria Mall Trust, Series 2025-HGLR, Class A, 5.644% 2/5/2045 <sup>(a)(d)(e)</sup>  | 50042 | 51443 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class C, 7.087% 5/10/2039 <sup>(a)(d)(e)</sup>  | 945 | 957 |
| HTL Commercial Mortgage Trust, Series 2024-T53, Class D, 8.197% 5/10/2039 <sup>(a)(d)(e)</sup>  | 2795 | 2850 |
| Hudson Yards Mortgage Trust, Series 2025-SPRL, Class E, 6.901% 1/13/2040 <sup>(a)(d)(e)</sup>  | 5499 | 5703 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class C, (1-month USD CME Term SOFR + 2.25%) 6.562% <br>3/15/2042 <sup>(a)(d)(e)</sup>  | 3000 | 2996 |
| INTOWN Mortgage Trust, Series 2025-STAY, Class D, (1-month USD CME Term SOFR + 2.85%) 7.162% <br>3/15/2042 <sup>(a)(d)(e)</sup>  | 5000 | 4998 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class A, 3.024% 1/5/2039 <sup>(a)(e)</sup>  | 3420 | 3119 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/2039 <sup>(a)(e)</sup>  | 2925 | 2611 |
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% <br>1/5/2039 <sup>(a)(d)(e)</sup>  | 1598 | 1356 |
| JW Commercial Mortgage Trust 2024-MRCO, Series 2024-BERY, Class A, (1-month USD CME Term SOFR + <br> 1.593%) 5.905% 11/15/2039 <sup>(a)(d)(e)</sup>  | 10359 | 10381 |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class D, (1-month USD CME Term SOFR + 3.29%) 7.602% <br>12/15/2039 <sup>(a)(d)(e)</sup>  | 3000 | 2994 |

---

American Funds Strategic Bond Fund<sub>8</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| KSL Commercial Mortgage Trust, Series 2024-HT2, Class E, (1-month USD CME Term SOFR + 4.538%) 8.85% <br>12/15/2039 <sup>(a)(d)(e)</sup>  | USD5,000 | $4941 |
| LSTAR Commercial Mortgage Trust, Series 2017-5, Class C, 4.666% 3/10/2050 <sup>(a)(d)(e)</sup>  | 1000 | 931 |
| LV Trust, Series 2024-SHOW, Class C, 6.276% 10/10/2041 <sup>(a)(d)(e)</sup>  | 1156 | 1180 |
| Morgan Stanley BAML Trust, Series 2025-5C1, Class B, 6.513% 3/15/2030 <sup>(a)</sup>  | 500 | 521 |
| Morgan Stanley BAML Trust, Series 2025-5C1, Class C, 6.638% 3/15/2030 <sup>(a)(d)</sup>  | 490 | 503 |
| Morgan Stanley BAML Trust, Series 2017-C34, Class AS, 3.859% 11/15/2052 <sup>(a)</sup>  | 500 | 480 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS, 3.561% 4/15/2048 <sup>(a)</sup>  | 967 | 943 |
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C24, Class AS, 4.036% 5/15/2048 <sup>(a)(d)</sup>  | 1016 | 1012 |
| MSWF Commercial Mortgage Trust, Series 2023-1, Class B, 6.906% 5/15/2033 <sup>(a)(d)</sup>  | 1231 | 1316 |
| MSWF Commercial Mortgage Trust, Series 2023-1, Class C, 6.906% 5/15/2033 <sup>(a)(d)</sup>  | 1132 | 1162 |
| MSWF Commercial Mortgage Trust, Series 2023-2, Class C, 7.018% 12/15/2056 <sup>(a)(d)</sup>  | 392 | 408 |
| Multifamily Connecticut Avenue Securities, Series 2020-1, Class M10, (30-day Average USD-SOFR + 3.864%) <br> 8.17% 3/25/2050 <sup>(a)(d)(e)</sup>  | 1874 | 1906 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M7, (30-day Average USD-SOFR + 4.00%) <br> 8.305% 11/25/2053 <sup>(a)(d)(e)</sup>  | 19437 | 20186 |
| Multifamily Connecticut Avenue Securities, Series 2023-01, Class M10, (30-day Average USD-SOFR + 6.50%) <br> 10.805% 11/25/2053 <sup>(a)(d)(e)</sup>  | 46028 | 51615 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M7, (30-day Average USD-SOFR + 2.75%) <br> 7.055% 7/25/2054 <sup>(a)(d)(e)</sup>  | 267 | 270 |
| Multifamily Connecticut Avenue Securities, Series 2024-01, Class M10, (30-day Average USD-SOFR + 3.85%) <br> 8.155% 7/25/2054 <sup>(a)(d)(e)</sup>  | 971 | 1010 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M1, (30-day Average USD-SOFR + 2.40%) <br> 6.705% 5/25/2055 <sup>(a)(d)(e)</sup>  | 6811 | 6831 |
| Multifamily Connecticut Avenue Securities, Series 2025-01, Class M2, (30-day Average USD-SOFR + 3.10%) <br> 7.405% 5/25/2055 <sup>(a)(d)(e)</sup>  | 1614 | 1622 |
| Multifamily Structured Credit Risk, Series 21-MN3, Class M2, 8.305% 11/25/2051 <sup>(a)(d)(e)</sup>  | 4000 | 4135 |
| NY Commercial Mortgage Trust, Series 2025-299P, Class A, 5.853% 2/10/2047 <sup>(a)(d)(e)</sup>  | 14245 | 14831 |
| NYC Commercial Mortgage Trust, Series 2025-3BP, Class D, (1-month USD CME Term SOFR + 2.441%) <br>6.753% 2/15/2042 <sup>(a)(d)(e)</sup>  | 1094 | 1076 |
| One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 2/10/2032 <sup>(a)(e)</sup>  | 2045 | 1956 |
| One Market Plaza Trust, Series 2017-1MKT, Class B, 3.845% 2/10/2032 <sup>(a)(e)</sup>  | 1000 | 932 |
| ROCC Trust, Series 2024-CNTR, Class A, 5.388% 11/13/2041 <sup>(a)(e)</sup>  | 121 | 124 |
| SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A, (1-month USD CME Term SOFR + 1.392%) 5.703% <br> 5/15/2039 <sup>(a)(d)(e)</sup>  | 35395 | 35395 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class A, (1-month USD CME Term SOFR + 1.264%) <br>5.576% 5/15/2038 (1-month USD CME Term SOFR + 1.514% on 5/15/2026) <sup>(a)(e)(f)</sup>  | 3645 | 3631 |
| SFO Commerical Mortgage Trust, Series 2021-555, Class B, (1-month USD CME Term SOFR + 1.614%) <br>5.926% 5/15/2038 <sup>(a)(d)(e)</sup>  | 2631 | 2615 |
| SFO Commercial Mortgage Trust, Series 2021-555, Class C, (1-month USD CME Term SOFR + 1.914%) <br>6.226% 5/15/2038 <sup>(a)(d)(e)</sup>  | 1910 | 1885 |
| SHR Trust, Series 2024-LXRY, Class D, (1-month USD CME Term SOFR + 3.60%) 7.912% 10/15/2041 <sup>(a)(d)(e)</sup>  | 1521 | 1525 |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585% 7/15/2041 <sup>(a)(e)</sup>  | 21061 | 18500 |
| SREIT Trust, Series 2021-MFP, Class C, (1-month USD CME Term SOFR + 1.443%) 5.755% 11/15/2038 <sup>(a)(d)(e)</sup>  | 3483 | 3482 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class D, (1-month USD CME Term SOFR + 1.95%) <br> 6.262% 1/15/2039 <sup>(a)(d)(e)</sup>  | 8908 | 8794 |
| StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class E, (1-month USD CME Term SOFR + 2.70%) <br> 7.012% 1/15/2039 <sup>(a)(d)(e)</sup>  | 2000 | 1969 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class D, (1-month USD CME Term SOFR + 2.591%) <br> 6.953% 3/15/2042 <sup>(a)(d)(e)</sup>  | 1957 | 1942 |
| SWCH Commercial Mortgage Trust, Series 2025-DATA, Class E, (1-month USD CME Term SOFR + 3.29%) <br>7.652% 3/15/2042 <sup>(a)(d)(e)</sup>  | 8831 | 8772 |
| UBS Commercial Mortgage Trust, Series 2017-C3, Class C, 4.358% 8/15/2050 <sup>(a)(d)</sup>  | 1582 | 1499 |
| Wells Fargo Commercial Mortgage Trust, Series 2015-C29, Class AS, 4.013% 6/15/2048 <sup>(a)(d)</sup>  | 1465 | 1461 |
| Wells Fargo Commercial Mortgage Trust, Series 2016-C35, Class C, 4.176% 7/15/2048 <sup>(a)(d)</sup>  | 500 | 487 |
| Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class C, 4.296% 10/15/2050 <sup>(a)(d)</sup>  | 4975 | 4594 |
| Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class B, 4.633% 8/15/2051 <sup>(a)</sup>  | 1451 | 1392 |
| Wells Fargo Commercial Mortgage Trust, Series 2018-C48, Class B, 4.904% 1/15/2052 <sup>(a)(d)</sup>  | 365 | 352 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C49, Class C, 4.866% 3/15/2052 <sup>(a)(d)</sup>  | 3000 | 2895 |
| Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class C, 3.81% 12/15/2052 <sup>(a)</sup>  | 2500 | 2165 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C1, Class B, 6.821% 7/15/2057 <sup>(a)(d)</sup>  | 2000 | 2091 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-C63, Class C, 6.116% 8/15/2057 <sup>(a)(d)</sup>  | 583 | 587 |
| Wells Fargo Commercial Mortgage Trust, Series 2024-5C2, Class B, 6.333% 11/15/2057 <sup>(a)(d)</sup>  | 334 | 346 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class C, 6.284% 5/15/2058 <sup>(a)</sup>  | 771 | 788 |
| Wells Fargo Commercial Mortgage Trust, Series 2025-5C4, Class B, 6.394% 5/15/2058 <sup>(a)</sup>  | 344 | 359 |
| Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.516% 9/15/2058 <sup>(a)(d)</sup>  | 4000 | 3755 |

---

---

| | |
|:---|:---|
| **9** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** | **Commercial mortgage-backed securities (continued)** |
| Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class B, 4.92% 1/15/2059 <sup>(a)(d)</sup>  | USD2,745 | $2687 |
| WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class B, 4.371% 9/15/2057 <sup>(a)(d)</sup>  | 2000 | 1825 |
| WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) <br> 7.101% 11/15/2027 <sup>(a)(d)(e)</sup>  | 3293 | 3300 |
| WSTN Trust, Series 2023-MAUI, Class C, 7.69% 7/5/2037 <sup>(a)(d)(e)</sup>  | 371 | 376 |
| WSTN Trust, Series 2023-MAUI, Class D, 8.455% 7/5/2037 <sup>(a)(d)(e)</sup>  | 1071 | 1074 |
|  |  | 1033286 |
| **Collateralized mortgage-backed obligations (privately originated) 2.54%** | **Collateralized mortgage-backed obligations (privately originated) 2.54%** | **Collateralized mortgage-backed obligations (privately originated) 2.54%** |
| Angel Oak Mortgage Trust, Series 2024-8, Class A1, 5.338% 5/27/2069 (6.338% on 8/1/2028) <sup>(a)(e)(f)</sup>  | 13853 | 13828 |
| Arroyo Mortgage Trust, Series 2022-1, Class A1A, 2.495% 12/25/2056 (3.495% on 2/25/2026) <sup>(a)(e)(f)</sup>  | 6216 | 5977 |
| BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/2061 <sup>(a)(d)(e)</sup>  | 3372 | 3146 |
| BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/2061 <sup>(a)(e)</sup>  | 1131 | 1038 |
| Cascade Funding Mortgage Trust, Series 2024-NR1, Class A1, 6.405% 11/25/2029 <br>(9.405% on 11/25/2027) <sup>(a)(e)(f)</sup>  | 947 | 952 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/2033 <sup>(a)(d)(e)</sup>  | 2597 | 2556 |
| Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/2033 <sup>(a)(d)(e)</sup>  | 1404 | 1392 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class A, 4.00% 8/25/2034 <sup>(a)(d)(e)</sup>  | 4518 | 4479 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M3, 4.00% 8/25/2034 <sup>(a)(d)(e)</sup>  | 518 | 491 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M2, 4.00% 8/25/2034 <sup>(a)(d)(e)</sup>  | 340 | 327 |
| Cascade Funding Mortgage Trust, Series 2024-HB15, Class M1, 4.00% 8/25/2034 <sup>(a)(d)(e)</sup>  | 291 | 282 |
| Cascade Funding Mortgage Trust, Series 2024-RM5, Class A, 4.00% 10/25/2054 <sup>(a)(d)(e)</sup>  | 9452 | 9252 |
| Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% 8/25/2054 (5.25% on 11/25/2027) <sup>(a)(e)(f)</sup>  | 3340 | 3243 |
| CFCRE Commercial Mortgage Trust, Series 2017-C8, Class C, 4.888% 6/15/2050 <sup>(a)(d)</sup>  | 700 | 650 |
| CIM Trust, Series 2020-R3, Class A1B, 4.00% 1/26/2060 <sup>(a)(d)(e)</sup>  | 2998 | 2704 |
| Connecticut Avenue Securities Trust, Series 2016-C02, Class 1M2, (30-day Average USD-SOFR + 6.114%) <br>10.42% 9/25/2028 <sup>(a)(d)</sup>  | 292 | 298 |
| Connecticut Avenue Securities Trust, Series 2019-R07, Class 1B1, (30-day Average USD-SOFR + 1.10%) 7.82% <br> 10/25/2039 <sup>(a)(d)(e)</sup>  | 4503 | 4604 |
| Connecticut Avenue Securities Trust, Series 2020-R01, Class 1B1, (30-day Average USD-SOFR + 3.364%) <br>7.67% 1/25/2040 <sup>(a)(d)(e)</sup>  | 4861 | 4985 |
| Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) <br>7.055% 5/25/2042 <sup>(a)(d)(e)</sup>  | 599 | 613 |
| Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 6.705% <br> 12/25/2042 <sup>(a)(d)(e)</sup>  | 6865 | 7045 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1B1, (30-day Average USD-SOFR + 2.70%) <br>7.005% 1/25/2044 <sup>(a)(d)(e)</sup>  | 388 | 398 |
| Connecticut Avenue Securities Trust, Series 2024-R01, Class 1B2, (30-day Average USD-SOFR + 4.00%) <br>8.305% 1/25/2044 <sup>(a)(d)(e)</sup>  | 500 | 518 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1M1, (30-day Average USD-SOFR + 1.10%) 5.405% <br> 2/25/2044 <sup>(a)(d)(e)</sup>  | 4856 | 4856 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1B1, (30-day Average USD-SOFR + 2.50%) <br>6.805% 2/25/2044 <sup>(a)(d)(e)</sup>  | 7110 | 7247 |
| Connecticut Avenue Securities Trust, Series 2024-R02, Class 1B2, (30-day Average USD-SOFR + 3.70%) <br>8.005% 2/25/2044 <sup>(a)(d)(e)</sup>  | 1260 | 1294 |
| FARM Mortgage Trust, Series 2024-1, Class B, 5.102% 10/1/2053 <sup>(a)(d)(e)</sup>  | 2123 | 1868 |
| Farmer Mac Agricultural Real Estate Trust, Series 2024-2, Class B, 5.595% 8/1/2054 <sup>(a)(d)(e)</sup>  | 1907 | 1697 |
| Farmer Mac Agricultural Real Estate Trust, Series 2025-1, Class A1, 5.22% 8/1/2055 <sup>(a)(d)(e)</sup>  | 5000 | 5039 |
| Finance of America Structured Securities Trust, Series 2025-PC1, Class A1, 4.50% 5/25/2075 <sup>(a)(e)(f)</sup>  | 37300 | 35927 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class M3, <br>(30-day Average USD-SOFR + 4.814%) 9.12% 4/25/2028 <sup>(a)(d)</sup>  | 942 | 953 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA3, Class B, (30-day Average USD-SOFR <br> + 9.464%) 13.77% 4/25/2028 <sup>(a)(d)</sup>  | 3129 | 3197 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2016-DNA2, Class M3, <br>(30-day Average USD-SOFR + 4.764%) 9.07% 10/25/2028 <sup>(a)(d)</sup>  | 1067 | 1094 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA2, Class M1A, (30-day Average <br> USD-SOFR + 1.30%) 5.605% 2/25/2042 <sup>(a)(d)(e)</sup>  | 1369 | 1370 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1B, (30-day Average <br> USD-SOFR + 2.90%) 7.205% 4/25/2042 <sup>(a)(d)(e)</sup>  | 3000 | 3092 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1B, (30-day Average <br> USD-SOFR + 3.35%) 7.655% 5/25/2042 <sup>(a)(d)(e)</sup>  | 2050 | 2132 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average <br> USD-SOFR + 2.95%) 7.255% 6/25/2042 <sup>(a)(d)(e)</sup>  | 701 | 717 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1B, (30-day Average <br> USD-SOFR + 4.50%) 8.805% 6/25/2042 <sup>(a)(d)(e)</sup>  | 2400 | 2553 |

---

American Funds Strategic Bond Fund<sub>10</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average <br> USD-SOFR + 2.15%) 6.455% 9/25/2042 <sup>(a)(d)(e)</sup>  | USD414 | $417 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average <br> USD-SOFR + 3.70%) 8.005% 9/25/2042 <sup>(a)(d)(e)</sup>  | 3344 | 3525 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2024-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.25%) 5.555% 5/25/2044 <sup>(a)(d)(e)</sup>  | 9360 | 9406 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2025-DNA2, Class A1, (30-day Average <br> USD-SOFR + 1.10%) 5.405% 5/25/2045 <sup>(a)(d)(e)</sup>  | 2769 | 2772 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2018-DNA3, Class B2, <br>(30-day Average USD-SOFR + 7.864%) 12.17% 9/25/2048 <sup>(a)(d)(e)</sup>  | 4500 | 5205 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class M2, <br>(30-day Average USD-SOFR + 1.814%) 6.12% 1/25/2050 <sup>(a)(d)(e)</sup>  | 65 | 65 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA1, Class B2, (30-day Average <br> USD-SOFR + 5.214%) 9.52% 1/25/2050 <sup>(a)(d)(e)</sup>  | 4970 | 5483 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA1, Class B2, (30-day Average USD-SOFR <br> + 5.364%) 9.67% 1/25/2050 <sup>(a)(d)(e)</sup>  | 7000 | 7734 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class B2, (30-day Average USD-SOFR <br> + 4.914%) 9.22% 2/25/2050 <sup>(a)(d)(e)</sup>  | 5000 | 5493 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA2, Class B2, (30-day Average <br> USD-SOFR + 7.714%) 12.02% 3/25/2050 <sup>(a)(d)(e)</sup>  | 1500 | 1821 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B2, (30-day Average USD-SOFR <br> + 9.464%) 13.77% 6/25/2050 <sup>(a)(d)(e)</sup>  | 6740 | 8749 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B1, <br>(30-day Average USD-SOFR + 5.214%) 9.52% 6/27/2050 <sup>(a)(d)(e)</sup>  | 1540 | 1659 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA3, Class B2, (30-day Average <br> USD-SOFR + 10.114%) 14.42% 7/25/2050 <sup>(a)(d)(e)</sup>  | 3222 | 4262 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B2, (30-day Average USD-SOFR <br> + 10.114%) 14.42% 8/25/2050 <sup>(a)(d)(e)</sup>  | 10954 | 14531 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA4, Class B2, <br>(30-day Average USD-SOFR + 9.514%) 13.82% 9/25/2050 <sup>(a)(d)(e)</sup>  | 2500 | 3249 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class M2, <br>(30-day Average USD-SOFR + 2.80%) 7.151% 10/25/2050 <sup>(a)(d)(e)</sup>  | 385 | 387 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B2, (30-day Average USD-SOFR <br> + 11.50%) 15.851% 10/25/2050 <sup>(a)(d)(e)</sup>  | 6850 | 9546 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA5, Class B2, <br>(30-day Average USD-SOFR + 7.40%) 11.705% 11/25/2050 <sup>(a)(d)(e)</sup>  | 4060 | 4890 |
| Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class B2, (30-day Average USD-SOFR <br> + 5.65%) 9.955% 12/25/2050 <sup>(a)(d)(e)</sup>  | 1500 | 1716 |
| GS Mortgage-Backed Securities Trust, Series 2025-RPL3, Class A1, 4.10% 7/25/2065 (5.10% on 6/1/2029) <sup>(a)(e)(f)</sup>  | 1624 | 1575 |
| IRV Trust, Series 2025-200P, Class A, 5.471% 3/14/2047 <sup>(a)(d)(e)</sup>  | 50369 | 51023 |
| IRV Trust, Series 2025-200P, Class C, 5.921% 3/14/2047 <sup>(a)(d)(e)</sup>  | 3429 | 3417 |
| JP Morgan Mortgage Trust, Series 2024-CES1, Class A3, 6.397% 6/25/2054 (7.397% on 3/1/2028) <sup>(a)(e)(f)</sup>  | 576 | 582 |
| JP Morgan Mortgage Trust, Series 2024-CES1, Class M1, 6.596% 6/25/2054 (7.596% on 3/1/2028) <sup>(a)(e)(f)</sup>  | 466 | 470 |
| Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (6.25% on 11/25/2025) <sup>(a)(e)(f)</sup>  | 1921 | 1919 |
| Mill City Mortgage Trust, Series 2018-2, Class M3, 3.75% 5/25/2058 <sup>(a)(d)(e)</sup>  | 1497 | 1376 |
| Mill City Mortgage Trust, Series 2017-1, Class B2, 3.754% 11/25/2058 <sup>(a)(d)(e)</sup>  | 1000 | 904 |
| Morgan Stanley Residential Mortgage Loan Trust, Series 2024-INV2, Class A1, 6.50% 2/25/2054 <sup>(a)(d)(e)</sup>  | 7475 | 7620 |
| NRZ Excess Spread Collateralized Notes, Series 2025-FHT1, Class A, 6.545% 3/25/2032 <sup>(a)(e)(f)</sup>  | 41206 | 41416 |
| Onslow Bay Financial Mortgage Loan Trust, Series 2025-NQM8, Class A1, 5.472% 3/25/2065 (6.472% on <br> 5/1/2029) <sup>(a)(e)(f)</sup>  | 8165 | 8199 |
| Onslow Bay Financial, LLC, Series 2025-NQM1, Class A1, 5.547% 12/25/2064 (6.547% on 12/1/2028) <sup>(a)(e)(f)</sup>  | 13831 | 13890 |
| PMT Loan Trust, Series 2024-INV1, Class A2, 6.00% 10/25/2059 <sup>(a)(d)(e)</sup>  | 4876 | 4918 |
| PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 11/25/2056 <sup>(a)(d)(e)</sup>  | 3257 | 2890 |
| Progress Residential Trust, Series 2025-SFR3, Class A, 3.39% 7/17/2030 <sup>(a)(e)</sup>  | 1246 | 1174 |
| Progress Residential Trust, Series 2024-SFR1, Class E2, 3.85% 2/17/2041 <sup>(a)(e)</sup>  | 1698 | 1579 |
| Progress Residential Trust, Series 2024-SFR1, Class E1, 3.85% 2/17/2041 <sup>(a)(e)</sup>  | 1414 | 1328 |
| Progress Residential Trust, Series 2024-SFR2, Class E1, 3.40% 4/17/2041 <sup>(a)(d)(e)</sup>  | 1073 | 990 |
| Progress Residential Trust, Series 2024-SFR2, Class E2, 3.65% 4/17/2041 <sup>(a)(d)(e)</sup>  | 449 | 414 |
| Progress Residential Trust, Series 2024-SFR3, Class A, 3.00% 6/17/2041 <sup>(a)(e)</sup>  | 15895 | 15003 |
| Progress Residential Trust, Series 2024-SFR3, Class E1, 4.00% 6/17/2041 <sup>(a)(e)</sup>  | 2074 | 1948 |
| Progress Residential Trust, Series 2024-SFR3, Class E2, 4.00% 6/17/2041 <sup>(a)(e)</sup>  | 711 | 662 |
| Progress Residential Trust, Series 2025-SFR2, Class D, 3.555% 4/17/2042 <sup>(a)(e)</sup>  | 1000 | 918 |
| PRP Advisors, LLC, Series 2025-RPL3, Class A1, 3.25% 4/25/2055 (4.25% on 4/1/2028) <sup>(a)(e)(f)</sup>  | 9082 | 8696 |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class C, (1-month USD CME Term SOFR + 2.45%) <br> 6.762% 10/17/2041 <sup>(a)(d)(e)</sup>  | 2000 | 2010 |

---

---

| | |
|:---|:---|
| **11** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** | **Mortgage-backed obligations (continued)** |
| **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** | **Collateralized mortgage-backed obligations (privately originated) (continued)** |
| Starwood Mortgage Residential Trust, Series 2024-SFR4, Class D, (1-month USD CME Term SOFR + 2.95%) <br> 7.262% 10/17/2041 <sup>(a)(d)(e)</sup>  | USD2,286 | $2309 |
| Towd Point Mortgage Trust, Series 2015-3, Class B1, 4.246% 3/25/2054 <sup>(a)(d)(e)</sup>  | 1500 | 1484 |
| Towd Point Mortgage Trust, Series 2016-3, Class B3, 4.097% 4/25/2056 <sup>(a)(d)(e)</sup>  | 3500 | 3280 |
| Towd Point Mortgage Trust, Series 2017-2, Class B2, 4.139% 4/25/2057 <sup>(a)(d)(e)</sup>  | 2000 | 1857 |
| Towd Point Mortgage Trust, Series 2017-4, Class B1, 3.659% 6/25/2057 <sup>(a)(d)(e)</sup>  | 1000 | 866 |
| Treehouse Park Improvement Association No.1 9.75% 12/1/2033 <sup>(e)(g)</sup>  | 21014 | 21014 |
| Verus Securitization Trust, Series 2023-3, Class A1, 5.93% 3/25/2068 (6.93% on 4/1/2027) <sup>(a)(e)(f)</sup>  | 4934 | 4940 |
| Verus Securitization Trust, Series 2024-2, Class A1, 6.095% 2/25/2069 (7.095% on 2/1/2028) <sup>(a)(e)(f)</sup>  | 29508 | 29733 |
| VM Fund I, LLC 8.625% 1/15/2028 <sup>(e)(g)</sup>  | 34621 | 34102 |
|  |  | 507230 |
| **Total mortgage-backed obligations** |  | 7144225 |
| **Corporate bonds, notes & loans 31.52%** | **Corporate bonds, notes & loans 31.52%** | **Corporate bonds, notes & loans 31.52%** |
| **Financials 7.09%** | **Financials 7.09%** | **Financials 7.09%** |
| Aero Capital Solutions, Inc., Term Loan, (1-month USD CME Term SOFR + 3.00%) <br>7.61% 11/17/2029 <sup>(d)(e)(g)(h)</sup>  | 1847 | 1833 |
| AG TTMT Escrow Issuer, LLC 8.625% 9/30/2027 <sup>(e)</sup>  | 4190 | 4342 |
| Alliant Holdings Intermediate, LLC 4.25% 10/15/2027 <sup>(e)</sup>  | 9355 | 9189 |
| Alliant Holdings Intermediate, LLC 6.75% 10/15/2027 <sup>(e)</sup>  | 3000 | 3004 |
| Alpha Bank SA 7.50% 6/16/2027 (1-year EUR Mid-Swap + 5.084% on 6/16/2026) <sup>(f)</sup>  | EUR100 | 123 |
| Alpha Bank SA 6.875% 6/27/2029 (1-year EUR-ICE Swap EURIBOR + 3.793% on 6/27/2028) <sup>(f)</sup>  | 6640 | 8670 |
| Alpha Bank SA 5.00% 5/12/2030 (1-year EUR-ICE Swap EURIBOR + 2.432% on 5/12/2029) <sup>(f)</sup>  | 2615 | 3282 |
| American Express Co. 5.284% 7/26/2035 (USD-SOFR + 1.42% on 7/26/2034) <sup>(f)</sup>  | USD7,807 | 7907 |
| American Express Co. 5.442% 1/30/2036 (USD-SOFR + 1.32% on 1/30/2035) <sup>(f)</sup>  | 3158 | 3225 |
| American International Group, Inc. 5.45% 5/7/2035  | 2645 | 2714 |
| Ardonagh Group Finance, Ltd. 8.875% 2/15/2032 <sup>(e)</sup>  | 4885 | 5144 |
| Aretec Group, Inc. 10.00% 8/15/2030 <sup>(e)</sup>  | 2475 | 2723 |
| Arthur J. Gallagher & Co. 5.15% 2/15/2035  | 4369 | 4374 |
| Arthur J. Gallagher & Co. 5.55% 2/15/2055  | 1154 | 1108 |
| Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027) <sup>(f)</sup>  | 20000 | 20234 |
| Bank of America Corp. 5.162% 1/24/2031 (USD-SOFR + 1.00% on 1/24/2030) <sup>(f)</sup>  | 5697 | 5841 |
| Bank of America Corp. 1.922% 10/24/2031 (USD-SOFR + 1.37% on 10/24/2030) <sup>(f)</sup>  | 11400 | 9945 |
| Bank of America Corp. 2.299% 7/21/2032 (USD-SOFR + 1.22% on 7/21/2031) <sup>(f)</sup>  | 28757 | 25067 |
| Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033) <sup>(f)</sup>  | 1765 | 1863 |
| Bank of America Corp. 5.511% 1/24/2036 (USD-SOFR + 1.31% on 1/24/2035) <sup>(f)</sup>  | 13654 | 14044 |
| Bank of America Corp. 5.464% 5/9/2036 (USD-SOFR + 1.64% on 5/9/2035) <sup>(f)</sup>  | 4532 | 4649 |
| BBVA Bancomer SA 7.625% 2/11/2035 (5-year UST Yield Curve Rate T Note Constant Maturity + 3.375% on <br> 2/11/2030) <sup>(e)(f)</sup>  | 1193 | 1228 |
| BlackRock Funding, Inc. 5.00% 3/14/2034  | 7000 | 7155 |
| BlackRock Funding, Inc. 5.25% 3/14/2054  | 12604 | 12099 |
| Blackstone Mortgage Trust, Inc. 7.75% 12/1/2029 <sup>(e)</sup>  | 2067 | 2200 |
| Blackstone, Inc. 5.00% 12/6/2034  | 5319 | 5298 |
| Block, Inc. 6.50% 5/15/2032  | 14650 | 15124 |
| BNP Paribas SA 2.871% 4/19/2032 (USD-SOFR + 1.387% on 4/19/2031) <sup>(e)(f)</sup>  | 19507 | 17486 |
| BNP Paribas SA 5.738% 2/20/2035 (USD-SOFR + 1.88% on 2/20/2034) <sup>(e)(f)</sup>  | 3914 | 4055 |
| BPCE SA 5.936% 5/30/2035 (USD-SOFR + 1.85% on 5/30/2034) <sup>(e)(f)</sup>  | 28000 | 28706 |
| BPCE SA 6.293% 1/14/2036 (USD-SOFR + 2.04% on 1/14/2035) <sup>(e)(f)</sup>  | 20000 | 21013 |
| Brown & Brown, Inc. 5.25% 6/23/2032  | 5677 | 5793 |
| Brown & Brown, Inc. 5.55% 6/23/2035  | 16746 | 17083 |
| Brown & Brown, Inc. 6.25% 6/23/2055  | 2177 | 2246 |
| CaixaBank, SA 5.581% 7/3/2036 (USD-SOFR + 1.79% on 7/3/2035) <sup>(e)(f)</sup>  | 18224 | 18418 |
| Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028) <sup>(f)</sup>  | 6344 | 6498 |
| Capital One Financial Corp. 5.70% 2/1/2030 (USD-SOFR + 1.905% on 2/1/2029) <sup>(f)</sup>  | 6800 | 7036 |
| Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033) <sup>(f)</sup>  | 8299 | 8838 |
| Capital One Financial Corp. 6.051% 2/1/2035 (USD-SOFR + 2.26% on 2/1/2034) <sup>(f)</sup>  | 17100 | 17832 |
| Charles Schwab Corp. (The) 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033) <sup>(f)</sup>  | 3658 | 3887 |
| Chubb INA Holdings, LLC 5.00% 3/15/2034  | 28980 | 29540 |
| Citigroup, Inc. 4.952% 5/7/2031 (USD-SOFR + 1.463% on 5/7/2030) <sup>(f)</sup>  | 3537 | 3578 |
| Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031) <sup>(f)</sup>  | 15254 | 13341 |
| Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032) <sup>(f)</sup>  | 8085 | 7228 |
| Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032) <sup>(f)</sup>  | 1264 | 1361 |
| Citigroup, Inc. 6.02% 1/24/2036 (USD-SOFR + 1.83% on 1/24/2035) <sup>(f)</sup>  | 2341 | 2405 |
| Citigroup, Inc. 5.333% 3/27/2036 (USD-SOFR + 1.465% on 3/27/2035) <sup>(f)</sup>  | 63314 | 63835 |
| Coinbase Global, Inc. 3.375% 10/1/2028 <sup>(e)</sup>  | 11300 | 10602 |

---

American Funds Strategic Bond Fund<sub>12</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Coinbase Global, Inc. 3.625% 10/1/2031 <sup>(e)</sup>  | USD21,975 | $19584 |
| Compass Group Diversified Holdings, LLC 5.25% 4/15/2029 <sup>(e)</sup>  | 12630 | 11347 |
| Compass Group Diversified Holdings, LLC 5.00% 1/15/2032 <sup>(e)</sup>  | 5100 | 4319 |
| Corebridge Financial, Inc. 3.85% 4/5/2029  | 7945 | 7788 |
| Corebridge Financial, Inc. 3.90% 4/5/2032  | 3361 | 3157 |
| Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br>4/1/2027) <sup>(e)(f)</sup>  | 12525 | 12484 |
| Deutsche Bank AG 2.129% 11/24/2026 (USD-SOFR + 1.87% on 11/24/2025) <sup>(f)</sup>  | 9425 | 9330 |
| Deutsche Bank AG 6.819% 11/20/2029 (USD-SOFR + 2.51% on 11/20/2028) <sup>(f)</sup>  | 7375 | 7871 |
| Deutsche Bank AG 5.403% 9/11/2035 (USD-SOFR + 2.05% on 9/11/2034) <sup>(f)</sup>  | 15925 | 15843 |
| Eurobank SA 4.00% 9/24/2030 (1-year EUR Mid-Swap + 2.127% on 9/24/2029) <sup>(f)</sup>  | EUR778 | 941 |
| Eurobank SA 4.875% 4/30/2031 (5-year EUR Mid-Swap + 2.165% on 4/30/2030) <sup>(f)</sup>  | 23462 | 29394 |
| Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028) <sup>(f)</sup>  | USD3,220 | 3392 |
| Freedom Mortgage Holdings, LLC 9.25% 2/1/2029 <sup>(e)</sup>  | 2400 | 2495 |
| Freedom Mortgage Holdings, LLC 8.375% 4/1/2032 <sup>(e)</sup>  | 2480 | 2509 |
| Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026) <sup>(f)</sup>  | 9340 | 9046 |
| Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031) <sup>(f)</sup>  | 29308 | 25906 |
| Goldman Sachs Group, Inc. 5.851% 4/25/2035 (USD-SOFR + 1.552% on 4/25/2034) <sup>(f)</sup>  | 3495 | 3667 |
| Goldman Sachs Group, Inc. 5.33% 7/23/2035 (USD-SOFR + 1.55% on 7/23/2034) <sup>(f)</sup>  | 26740 | 26984 |
| Goldman Sachs Group, Inc. 5.016% 10/23/2035 (USD-SOFR + 1.42% on 10/23/2034) <sup>(f)</sup>  | 5248 | 5187 |
| Goldman Sachs Group, Inc. 5.536% 1/28/2036 (USD-SOFR + 1.38% on 1/28/2035) <sup>(f)</sup>  | 29563 | 30328 |
| Goldman Sachs Group, Inc. 3.21% 4/22/2042 (USD-SOFR + 1.513% on 4/22/2041) <sup>(f)</sup>  | 8858 | 6630 |
| Goldman Sachs Group, Inc. 2.908% 7/21/2042 (USD-SOFR + 1.40% on 7/21/2041) <sup>(f)</sup>  | 3203 | 2295 |
| Howden UK Refinance PLC 7.25% 2/15/2031 <sup>(e)</sup>  | 5640 | 5845 |
| HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031) <sup>(f)</sup>  | 9368 | 8290 |
| HSBC Holdings PLC 5.402% 8/11/2033 (USD-SOFR + 2.87% on 8/11/2032) <sup>(f)</sup>  | 9000 | 9235 |
| HSBC Holdings PLC 5.45% 3/3/2036 (USD-SOFR + 1.56% on 3/3/2035) <sup>(f)</sup>  | 16692 | 16790 |
| HUB International, Ltd. 7.25% 6/15/2030 <sup>(e)</sup>  | 7437 | 7777 |
| IIFL Finance, Ltd. 8.75% 7/24/2028 <sup>(e)</sup>  | 14955 | 15057 |
| Jane Street Group, LLC 6.75% 5/1/2033 <sup>(e)</sup>  | 2960 | 3045 |
| JPMorgan Chase & Co. 4.323% 4/26/2028 (USD-SOFR + 1.56% on 4/26/2027) <sup>(f)</sup>  | 11000 | 10994 |
| JPMorgan Chase & Co. 4.505% 10/22/2028 (USD-SOFR + 0.86% on 10/22/2027) <sup>(f)</sup>  | 12188 | 12227 |
| JPMorgan Chase & Co. 2.545% 11/8/2032 (USD-SOFR + 1.18% on 11/8/2031) <sup>(f)</sup>  | 1359 | 1197 |
| JPMorgan Chase & Co. 5.766% 4/22/2035 (USD-SOFR + 1.49% on 4/22/2034) <sup>(f)</sup>  | 1474 | 1549 |
| JPMorgan Chase & Co. 5.572% 4/22/2036 (USD-SOFR + 1.68% on 4/22/2035) <sup>(f)</sup>  | 8028 | 8323 |
| Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 1.70% on 10/2/2026) <sup>(f)</sup>  | 5000 | 4870 |
| Lloyds Banking Group PLC 5.679% 1/5/2035 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on <br> 1/5/2034) <sup>(f)</sup>  | 21500 | 22079 |
| Marsh & McLennan Cos., Inc. 2.375% 12/15/2031  | 7309 | 6405 |
| Marsh & McLennan Cos., Inc. 5.15% 3/15/2034  | 5113 | 5231 |
| Marsh & McLennan Cos., Inc. 5.00% 3/15/2035  | 27947 | 27954 |
| Marsh & McLennan Cos., Inc. 5.40% 3/15/2055  | 20000 | 19291 |
| Mastercard, Inc. 4.55% 1/15/2035  | 10089 | 9926 |
| Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028) <sup>(f)</sup>  | 2463 | 2512 |
| Morgan Stanley 5.656% 4/18/2030 (USD-SOFR + 1.26% on 4/18/2029) <sup>(f)</sup>  | 2675 | 2779 |
| Morgan Stanley 1.794% 2/13/2032 (USD-SOFR + 1.034% on 2/13/2031) <sup>(f)</sup>  | 1509 | 1291 |
| Morgan Stanley 5.32% 7/19/2035 (USD-SOFR + 1.555% on 7/19/2034) <sup>(f)</sup>  | 24196 | 24501 |
| Morgan Stanley 5.587% 1/18/2036 (USD-SOFR + 1.418% on 1/18/2035) <sup>(f)</sup>  | 26084 | 26786 |
| Morgan Stanley 5.664% 4/17/2036 (USD-SOFR + 1.757% on 4/17/2035) <sup>(f)</sup>  | 9082 | 9415 |
| Morgan Stanley 5.942% 2/7/2039 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.80% on 2/7/2039) <sup>(f)</sup>  | 9867 | 10132 |
| Navient Corp. 9.375% 7/25/2030  | 8515 | 9399 |
| Navient Corp. 11.50% 3/15/2031  | 3074 | 3485 |
| Navient Corp. 5.625% 8/1/2033  | 12530 | 11532 |
| New York Life Global Funding 4.55% 1/28/2033 <sup>(e)</sup>  | 2456 | 2405 |
| OneMain Finance Corp. 7.50% 5/15/2031  | 18475 | 19317 |
| OneMain Finance Corp. 7.125% 11/15/2031  | 11185 | 11645 |
| OneMain Finance Corp. 7.125% 9/15/2032  | 6320 | 6551 |
| Osaic Holdings, Inc. 10.75% 8/1/2027 <sup>(e)</sup>  | 2500 | 2508 |
| Oxford Finance, LLC 6.375% 2/1/2027 <sup>(e)</sup>  | 6055 | 6093 |
| Piraeus Bank SA 6.75% 12/5/2029 (1-year EUR Mid-Swap + 3.837% on 12/5/2028) <sup>(f)</sup>  | EUR3,077 | 4026 |
| Piraeus Bank SA 5.00% 4/16/2030 (1-year EUR-ICE Swap EURIBOR + 2.245% on 4/16/2029) <sup>(f)</sup>  | 2790 | 3485 |
| PNC Financial Services Group, Inc. 6.037% 10/28/2033 (USD-SOFR + 2.14% on 10/28/2032) <sup>(f)</sup>  | USD18,000 | 19149 |
| PNC Financial Services Group, Inc. 6.875% 10/20/2034 (USD-SOFR + 2.284% on 10/20/2033) <sup>(f)</sup>  | 59597 | 66647 |
| PNC Financial Services Group, Inc. 5.676% 1/22/2035 (USD-SOFR + 1.902% on 1/22/2034) <sup>(f)</sup>  | 370 | 385 |
| PNC Financial Services Group, Inc. 5.401% 7/23/2035 (USD-SOFR + 1.599% on 7/23/2034) <sup>(f)</sup>  | 20824 | 21213 |

---

---

| | |
|:---|:---|
| **13** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| PNC Financial Services Group, Inc. 5.575% 1/29/2036 (USD-SOFR + 1.394% on 1/29/2035) <sup>(f)</sup>  | USD5,593 | $5767 |
| Synchrony Financial 5.45% 3/6/2031 (USD-SOFR + 1.68% on 3/6/2030) <sup>(f)</sup>  | 10000 | 10090 |
| Synchrony Financial 7.25% 2/2/2033  | 9684 | 10137 |
| Toronto-Dominion Bank (The) 2.00% 9/10/2031  | 20000 | 17472 |
| Travelers Companies, Inc. 2.55% 4/27/2050  | 361 | 217 |
| Truist Financial Corp. 5.153% 8/5/2032 (USD-SOFR + 1.571% on 8/5/2031) <sup>(f)</sup>  | 13796 | 14069 |
| Truist Financial Corp. 5.122% 1/26/2034 (USD-SOFR + 1.60% on 1/26/2033) <sup>(f)</sup>  | 4725 | 4730 |
| Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033) <sup>(f)</sup>  | 1597 | 1669 |
| Truist Financial Corp. 5.711% 1/24/2035 (USD-SOFR + 1.922% on 1/24/2034) <sup>(f)</sup>  | 22372 | 23199 |
| Truist Insurance Holdings, LLC, Term Loan, (3-month USD CME Term SOFR + 4.75%) 9.046% 5/6/2032 <sup>(d)(h)</sup>  | 6745 | 6842 |
| U.S. Bancorp 5.85% 10/21/2033 (USD-SOFR + 2.09% on 10/21/2032) <sup>(f)</sup>  | 1600 | 1684 |
| U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033) <sup>(f)</sup>  | 2050 | 2025 |
| U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033) <sup>(f)</sup>  | 14572 | 15312 |
| U.S. Bancorp 5.678% 1/23/2035 (USD-SOFR + 1.86% on 1/23/2034) <sup>(f)</sup>  | 27800 | 28872 |
| U.S. Bancorp 5.424% 2/12/2036 (USD-SOFR + 1.411% on 2/12/2035) <sup>(f)</sup>  | 5679 | 5789 |
| UBS Group AG 2.095% 2/11/2032 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.00% on <br>2/11/2031) <sup>(e)(f)</sup>  | 750 | 649 |
| UBS Group AG 4.375% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 3.313% on 2/10/2031) <sup>(e)(f)</sup>  | 5375 | 4764 |
| Wells Fargo & Co. 5.707% 4/22/2028 (USD-SOFR + 1.07% on 4/22/2027) <sup>(f)</sup>  | 490 | 501 |
| Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027) <sup>(f)</sup>  | 9160 | 9239 |
| Wells Fargo & Co. 4.897% 7/25/2033 (USD-SOFR + 4.897% on 7/25/2032) <sup>(f)</sup>  | 4891 | 4893 |
| Wells Fargo & Co. 5.557% 7/25/2034 (USD-SOFR + 1.99% on 7/25/2033) <sup>(f)</sup>  | 13020 | 13442 |
| Wells Fargo & Co. 6.491% 10/23/2034 (USD-SOFR + 2.06% on 10/23/2033) <sup>(f)</sup>  | 15500 | 16948 |
| Wells Fargo & Co. 5.211% 12/3/2035 (USD-SOFR + 1.38% on 12/3/2034) <sup>(f)</sup>  | 7300 | 7331 |
| Wells Fargo & Co. 5.605% 4/23/2036 (USD-SOFR + 1.74% on 4/23/2035) <sup>(f)</sup>  | 30211 | 31196 |
| Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052) <sup>(f)</sup>  | 1328 | 1133 |
|  |  | 1412974 |
| **Energy 4.00%** | **Energy 4.00%** | **Energy 4.00%** |
| 3R Lux SARL 9.75% 2/5/2031 <sup>(e)</sup>  | 6224 | 6299 |
| AI Candelaria (Spain) SA 5.75% 6/15/2033 <sup>(e)</sup>  | 2990 | 2540 |
| APA Corp. 4.75% 4/15/2043 <sup>(e)</sup>  | 1749 | 1337 |
| APA Corp. 5.35% 7/1/2049 <sup>(e)</sup>  | 351 | 279 |
| Apache Corp. 4.625% 11/15/2025  | 5395 | 5388 |
| Ascent Resources Utica Holdings, LLC 6.625% 7/15/2033 <sup>(e)</sup>  | 4255 | 4320 |
| Baytex Energy Corp. 7.375% 3/15/2032 <sup>(e)</sup>  | 4720 | 4511 |
| Blue Racer Midstream, LLC 7.00% 7/15/2029 <sup>(e)</sup>  | 2815 | 2940 |
| Borr IHC, Ltd. 10.00% 11/15/2028 <sup>(e)</sup>  | 5528 | 5053 |
| Borr IHC, Ltd. 10.375% 11/15/2030 <sup>(e)</sup>  | 9272 | 8208 |
| Canadian Natural Resources, Ltd. 2.95% 7/15/2030  | 6455 | 5923 |
| Cenovus Energy, Inc. 5.375% 7/15/2025  | 1095 | 1095 |
| Cheniere Energy Partners, LP 4.00% 3/1/2031  | 4790 | 4560 |
| Cheniere Energy Partners, LP 5.95% 6/30/2033  | 15000 | 15664 |
| Chevron Corp. 2.236% 5/11/2030  | 3290 | 3005 |
| Chevron Corp. 3.078% 5/11/2050  | 1181 | 796 |
| Civitas Resources, Inc. 8.375% 7/1/2028 <sup>(e)</sup>  | 12575 | 12891 |
| Civitas Resources, Inc. 8.625% 11/1/2030 <sup>(e)</sup>  | 2455 | 2494 |
| Civitas Resources, Inc. 8.75% 7/1/2031 <sup>(e)</sup>  | 9090 | 9202 |
| Civitas Resources, Inc. 9.625% 6/15/2033 <sup>(e)</sup>  | 8525 | 8746 |
| CNX Resources Corp. 7.375% 1/15/2031 <sup>(e)</sup>  | 3079 | 3214 |
| CNX Resources Corp. 7.25% 3/1/2032 <sup>(e)</sup>  | 1960 | 2031 |
| Comstock Resources, Inc. 5.875% 1/15/2030 <sup>(e)</sup>  | 3015 | 2931 |
| ConocoPhillips Co. 5.55% 3/15/2054  | 10000 | 9567 |
| Constellation Oil Services Holding SA 9.375% 11/7/2029 <sup>(e)</sup>  | 12510 | 12742 |
| Crescent Energy Finance, LLC 9.25% 2/15/2028 <sup>(e)</sup>  | 3045 | 3176 |
| Crescent Energy Finance, LLC 7.625% 4/1/2032 <sup>(e)</sup>  | 4860 | 4749 |
| Crescent Energy Finance, LLC 7.375% 1/15/2033 <sup>(e)</sup>  | 6195 | 5927 |
| Crescent Energy Finance, LLC 8.375% 1/15/2034 <sup>(e)</sup>  | 4705 | 4711 |
| Devon Energy Corp. 5.75% 9/15/2054  | 11123 | 10023 |
| Diamondback Energy, Inc. 5.15% 1/30/2030  | 3134 | 3207 |
| Diamondback Energy, Inc. 5.40% 4/18/2034  | 10561 | 10597 |
| Diamondback Energy, Inc. 5.75% 4/18/2054  | 5153 | 4788 |
| Diamondback Energy, Inc. 5.90% 4/18/2064  | 3455 | 3201 |
| Ecopetrol SA 7.75% 2/1/2032  | 25000 | 24584 |

---

American Funds Strategic Bond Fund<sub>14</sub>

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** | **Energy (continued)** | **Energy (continued)** |
| Ecopetrol SA 8.875% 1/13/2033  | USD15,940 | $16455 |
| Ecopetrol SA 8.375% 1/19/2036  | 17425 | 16824 |
| Enbridge Energy Partners, LP 5.875% 10/15/2025  | 155 | 155 |
| Encino Acquisition Partners Holdings, LLC 8.75% 5/1/2031 <sup>(e)</sup>  | 2420 | 2675 |
| Energean Israel Finance, Ltd. 5.875% 3/30/2031 <sup>(e)</sup>  | 6445 | 5957 |
| Energy Transfer, LP 5.70% 4/1/2035  | 905 | 922 |
| Eni SpA 5.50% 5/15/2034 <sup>(e)</sup>  | 6151 | 6201 |
| Eni SpA 5.75% 5/19/2035 <sup>(e)</sup>  | 8477 | 8675 |
| Eni SpA 5.95% 5/15/2054 <sup>(e)</sup>  | 19257 | 18650 |
| Enterprise Products Operating, LLC 4.95% 2/15/2035  | 3629 | 3618 |
| EOG Resources, Inc. 5.65% 12/1/2054  | 14000 | 13681 |
| EQT Corp. 4.50% 1/15/2029 <sup>(e)</sup>  | 2361 | 2333 |
| Equinor ASA 3.70% 4/6/2050  | 1217 | 920 |
| Exxon Mobil Corp. 4.227% 3/19/2040  | 1200 | 1074 |
| Exxon Mobil Corp. 3.452% 4/15/2051  | 1229 | 872 |
| GeoPark, Ltd. 8.75% 1/31/2030 <sup>(e)</sup>  | 10000 | 8808 |
| Global Partners, LP 8.25% 1/15/2032 <sup>(e)</sup>  | 2135 | 2247 |
| Gray Oak Pipeline, LLC 2.60% 10/15/2025 <sup>(e)</sup>  | 4442 | 4413 |
| Gulfport Energy Operating Corp. 6.75% 9/1/2029 <sup>(e)</sup>  | 4440 | 4556 |
| Hilcorp Energy I, LP 5.75% 2/1/2029 <sup>(e)</sup>  | 1285 | 1269 |
| Hilcorp Energy I, LP 6.00% 4/15/2030 <sup>(e)</sup>  | 2700 | 2627 |
| Hilcorp Energy I, LP 6.00% 2/1/2031 <sup>(e)</sup>  | 865 | 837 |
| Hilcorp Energy I, LP 6.25% 4/15/2032 <sup>(e)</sup>  | 4550 | 4349 |
| Hilcorp Energy I, LP 8.375% 11/1/2033 <sup>(e)</sup>  | 7720 | 8016 |
| Kraken Oil & Gas Partners, LLC 7.625% 8/15/2029 <sup>(e)</sup>  | 2775 | 2729 |
| Leviathan Bond, Ltd. 6.75% 6/30/2030 <sup>(e)</sup>  | 5495 | 5433 |
| Matador Resources Co. 6.25% 4/15/2033 <sup>(e)</sup>  | 3190 | 3174 |
| Modec Finance BV 7.84% 7/15/2026 <sup>(g)(i)</sup>  | 9000 | 9104 |
| Murphy Oil Corp. 6.00% 10/1/2032  | 2690 | 2567 |
| MV24 Capital BV 6.748% 6/1/2034  | 7611 | 7388 |
| Nabors Industries, Inc. 9.125% 1/31/2030 <sup>(e)</sup>  | 6375 | 6109 |
| Nabors Industries, Inc. 8.875% 8/15/2031 <sup>(e)</sup>  | 6380 | 4744 |
| NFE Financing, LLC 12.00% 11/15/2029 <sup>(e)</sup>  | 48750 | 22173 |
| NGL Energy Operating, LLC 8.125% 2/15/2029 <sup>(e)</sup>  | 1956 | 1978 |
| NGL Energy Operating, LLC 8.375% 2/15/2032 <sup>(e)</sup>  | 4260 | 4276 |
| Noble Finance II, LLC 8.00% 4/15/2030 <sup>(e)</sup>  | 13020 | 13268 |
| Northern Oil and Gas, Inc. 8.75% 6/15/2031 <sup>(e)</sup>  | 7475 | 7712 |
| Occidental Petroleum Corp. 6.125% 1/1/2031  | 9602 | 9947 |
| Occidental Petroleum Corp. 5.55% 10/1/2034  | 25000 | 24548 |
| Occidental Petroleum Corp. 6.45% 9/15/2036  | 12000 | 12286 |
| Occidental Petroleum Corp. 6.60% 3/15/2046  | 12000 | 11838 |
| ONEOK, Inc. 5.05% 11/1/2034  | 1790 | 1743 |
| Permian Resources Operating, LLC 9.875% 7/15/2031 <sup>(e)</sup>  | 4711 | 5164 |
| Permian Resources Operating, LLC 7.00% 1/15/2032 <sup>(e)</sup>  | 2150 | 2230 |
| Petroleos Mexicanos 6.875% 10/16/2025  | 25000 | 24989 |
| Petroleos Mexicanos 4.50% 1/23/2026  | 2188 | 2160 |
| Petroleos Mexicanos 6.70% 2/16/2032  | 11544 | 10736 |
| Petroleos Mexicanos 10.00% 2/7/2033  | 20000 | 21425 |
| Petroleos Mexicanos 6.50% 6/2/2041  | 414 | 308 |
| Petroleos Mexicanos 6.375% 1/23/2045  | 160 | 114 |
| Petroleos Mexicanos 6.75% 9/21/2047  | 1406 | 1019 |
| Petroleos Mexicanos 6.35% 2/12/2048  | 233 | 162 |
| Petroleos Mexicanos 7.69% 1/23/2050  | 1481 | 1166 |
| Petroleos Mexicanos 6.95% 1/28/2060  | 1657 | 1192 |
| Pluspetrol SA 8.50% 5/30/2032 <sup>(e)</sup>  | 14890 | 15058 |
| Raizen Fuels Finance SA 6.70% 2/25/2037 <sup>(e)</sup>  | 12695 | 12473 |
| Range Resources Corp. 4.75% 2/15/2030 <sup>(e)</sup>  | 1340 | 1305 |
| Saturn Oil & Gas, Inc. 9.625% 6/15/2029 <sup>(e)</sup>  | 1059 | 1053 |
| Saudi Arabian Oil Co. 5.75% 7/17/2054 <sup>(e)</sup>  | 17670 | 16606 |
| Summit Midstream Holdings, LLC 8.625% 10/31/2029 <sup>(e)</sup>  | 3065 | 3138 |
| Sunoco, LP 7.00% 5/1/2029 <sup>(e)</sup>  | 3990 | 4158 |
| Sunoco, LP 7.25% 5/1/2032 <sup>(e)</sup>  | 4620 | 4854 |
| Talos Production, Inc. 9.00% 2/1/2029 <sup>(e)</sup>  | 3010 | 3084 |
| Talos Production, Inc. 9.375% 2/1/2031 <sup>(e)</sup>  | 2435 | 2488 |
| Targa Resources Corp. 5.55% 8/15/2035  | 1804 | 1814 |
| Targa Resources Corp. 5.65% 2/15/2036  | 6635 | 6700 |

---

---

| | |
|:---|:---|
| **15** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Energy (continued)** | **Energy (continued)** | **Energy (continued)** |
| Tidewater, Inc. 9.125% 7/15/2030 <sup>(e)</sup>  | USD2,380 | $2451 |
| TotalEnergies Capital SA 4.724% 9/10/2034  | 13635 | 13554 |
| Transocean Aquila, Ltd. 8.00% 9/30/2028 <sup>(e)</sup>  | 3192 | 3226 |
| Transocean, Inc. 8.00% 2/1/2027 <sup>(e)</sup>  | 4288 | 4227 |
| Transocean, Inc. 8.25% 5/15/2029 <sup>(e)</sup>  | 5250 | 4858 |
| Transocean, Inc. 8.75% 2/15/2030 <sup>(e)</sup>  | 3038 | 3126 |
| Transocean, Inc. 8.50% 5/15/2031 <sup>(e)</sup>  | 4500 | 4021 |
| Transocean, Inc. 6.80% 3/15/2038  | 5000 | 3520 |
| Transportadora de Gas del Sur SA 8.50% 7/24/2031 <sup>(e)</sup>  | 10200 | 10721 |
| USA Compression Partners, LP 7.125% 3/15/2029 <sup>(e)</sup>  | 7660 | 7856 |
| Venture Global Calcasieu Pass, LLC 6.25% 1/15/2030 <sup>(e)</sup>  | 10796 | 11143 |
| Venture Global Calcasieu Pass, LLC 4.125% 8/15/2031 <sup>(e)</sup>  | 3970 | 3678 |
| Venture Global LNG, Inc. 8.125% 6/1/2028 <sup>(e)</sup>  | 9500 | 9825 |
| Venture Global LNG, Inc. 8.375% 6/1/2031 <sup>(e)</sup>  | 10000 | 10394 |
| Venture Global Plaquemines LNG, LLC 7.50% 5/1/2033 <sup>(e)</sup>  | 9425 | 10099 |
| Venture Global Plaquemines LNG, LLC 6.50% 1/15/2034 <sup>(e)</sup>  | 8095 | 8095 |
| Venture Global Plaquemines LNG, LLC 7.75% 5/1/2035 <sup>(e)</sup>  | 7140 | 7735 |
| Venture Global Plaquemines LNG, LLC 6.75% 1/15/2036 <sup>(e)</sup>  | 6025 | 6025 |
| Vista Energy Argentina SAU 7.625% 12/10/2035 <sup>(e)</sup>  | 15610 | 15153 |
| Vital Energy, Inc. 7.875% 4/15/2032 <sup>(e)</sup>  | 10985 | 9401 |
| Wildfire Intermediate Holdings, LLC 7.50% 10/15/2029 <sup>(e)</sup>  | 6670 | 6643 |
|  |  | 796997 |
| **Health care 3.99%** | **Health care 3.99%** | **Health care 3.99%** |
| AbbVie, Inc. 3.20% 11/21/2029  | 1207 | 1155 |
| AbbVie, Inc. 5.05% 3/15/2034  | 32320 | 32919 |
| AbbVie, Inc. 5.35% 3/15/2044  | 1350 | 1324 |
| AbbVie, Inc. 5.40% 3/15/2054  | 20690 | 20133 |
| AbbVie, Inc. 5.50% 3/15/2064  | 3650 | 3543 |
| AdaptHealth, LLC 5.125% 3/1/2030 <sup>(e)</sup>  | 6865 | 6529 |
| Amgen, Inc. 3.00% 2/22/2029  | 600 | 573 |
| Amgen, Inc. 4.05% 8/18/2029  | 16075 | 15893 |
| Amgen, Inc. 5.25% 3/2/2030  | 11990 | 12358 |
| Amgen, Inc. 4.20% 3/1/2033  | 14000 | 13444 |
| Amgen, Inc. 5.25% 3/2/2033  | 53634 | 54941 |
| Amgen, Inc. 4.875% 3/1/2053  | 4975 | 4348 |
| Amgen, Inc. 5.65% 3/2/2053  | 22992 | 22465 |
| Amgen, Inc. 5.75% 3/2/2063  | 12500 | 12162 |
| AstraZeneca Finance, LLC 5.00% 2/26/2034  | 16875 | 17210 |
| Avantor Funding, Inc. 4.625% 7/15/2028 <sup>(e)</sup>  | 5785 | 5685 |
| Banner Health 2.913% 1/1/2051  | 10000 | 6365 |
| Baxter International, Inc. 2.539% 2/1/2032  | 5260 | 4587 |
| Baxter International, Inc. 3.132% 12/1/2051  | 12537 | 8014 |
| Bayer US Finance, LLC 6.50% 11/21/2033 <sup>(e)</sup>  | 13772 | 14773 |
| Bayer US Finance, LLC 6.875% 11/21/2053 <sup>(e)</sup>  | 9034 | 9600 |
| Baylor Scott & White Holdings 0.827% 11/15/2025  | 5463 | 5369 |
| Baylor Scott & White Holdings 1.777% 11/15/2030  | 19087 | 16730 |
| Bristol-Myers Squibb Co. 5.20% 2/22/2034  | 14739 | 15101 |
| Bristol-Myers Squibb Co. 5.50% 2/22/2044  | 2825 | 2803 |
| Bristol-Myers Squibb Co. 6.25% 11/15/2053  | 821 | 880 |
| Bristol-Myers Squibb Co. 5.55% 2/22/2054  | 8416 | 8216 |
| Bristol-Myers Squibb Co. 5.65% 2/22/2064  | 3325 | 3231 |
| Centene Corp. 2.45% 7/15/2028  | 24165 | 22457 |
| Centene Corp. 3.00% 10/15/2030  | 3625 | 3241 |
| Centene Corp. 2.625% 8/1/2031  | 3049 | 2614 |
| Cigna Group (The) 2.375% 3/15/2031  | 1713 | 1523 |
| Cigna Group (The) 5.25% 2/15/2034  | 2670 | 2714 |
| Cigna Group (The) 5.60% 2/15/2054  | 1064 | 1022 |
| CVS Health Corp. 5.25% 2/21/2033  | 2144 | 2159 |
| CVS Health Corp. 5.70% 6/1/2034  | 4891 | 5038 |
| CVS Health Corp. 6.00% 6/1/2044  | 28051 | 27747 |
| CVS Health Corp. 5.625% 2/21/2053  | 12500 | 11571 |
| CVS Health Corp. 5.875% 6/1/2053  | 4000 | 3825 |
| CVS Health Corp. 6.05% 6/1/2054  | 27917 | 27379 |
| CVS Health Corp. 6.00% 6/1/2063  | 3074 | 2941 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **16** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| DaVita, Inc. 6.75% 7/15/2033 <sup>(e)</sup>  | USD1,410 | $1457 |
| Elevance Health, Inc. 5.125% 2/15/2053  | 926 | 828 |
| Eli Lilly and Co. 5.10% 2/12/2035  | 2363 | 2423 |
| Eli Lilly and Co. 5.50% 2/12/2055  | 929 | 936 |
| Endo Finance Holdings, Inc. 8.50% 4/15/2031 <sup>(e)</sup>  | 4205 | 4456 |
| Endo Finance Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.00%) 8.327% 4/23/2031 <sup>(d)(h)</sup>  | 3667 | 3669 |
| Gilead Sciences, Inc. 5.25% 10/15/2033  | 1710 | 1770 |
| Gilead Sciences, Inc. 5.10% 6/15/2035  | 16744 | 16965 |
| Gilead Sciences, Inc. 2.80% 10/1/2050  | 1462 | 920 |
| Gilead Sciences, Inc. 5.55% 10/15/2053  | 889 | 878 |
| HCA, Inc. 3.625% 3/15/2032  | 5028 | 4640 |
| Humana, Inc. 5.375% 4/15/2031  | 1202 | 1230 |
| Humana, Inc. 5.95% 3/15/2034  | 7875 | 8192 |
| Humana, Inc. 5.75% 4/15/2054  | 10171 | 9482 |
| Johnson & Johnson 4.95% 6/1/2034  | 3907 | 4065 |
| Johnson & Johnson 5.25% 6/1/2054  | 1290 | 1281 |
| Owens & Minor, Inc. 6.625% 4/1/2030 <sup>(e)</sup>  | 14865 | 13977 |
| Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033  | 5109 | 5096 |
| Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043  | 20000 | 19084 |
| Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053  | 12206 | 11532 |
| Radiology Partners, Inc. 9.781% PIK 2/15/2030 <sup>(e)(j)</sup>  | 766 | 753 |
| Radiology Partners, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.50%) 1.50% PIK and 6.591% Cash <br> 1/31/2029 <sup>(d)(h)(j)</sup>  | 1033 | 1031 |
| Roche Holdings, Inc. 5.593% 11/13/2033 <sup>(e)</sup>  | 4971 | 5273 |
| Roche Holdings, Inc. 4.985% 3/8/2034 <sup>(e)</sup>  | 1154 | 1176 |
| Roche Holdings, Inc. 4.592% 9/9/2034 <sup>(e)</sup>  | 2272 | 2250 |
| Roche Holdings, Inc. 2.607% 12/13/2051 <sup>(e)</sup>  | 9473 | 5796 |
| Roche Holdings, Inc. 5.218% 3/8/2054 <sup>(e)</sup>  | 608 | 590 |
| Sterigenics-Nordion Holdings, LLC 7.375% 6/1/2031 <sup>(e)</sup>  | 7800 | 8125 |
| Summa Health 3.511% 11/15/2051  | 9945 | 8200 |
| Sutter Health 1.321% 8/15/2025  | 6000 | 5976 |
| Sutter Health 5.164% 8/15/2033  | 9905 | 10057 |
| Takeda U.S. Financing, Inc. 5.20% 7/7/2035  | 30167 | 30182 |
| Takeda U.S. Financing, Inc. 5.90% 7/7/2055  | 5164 | 5194 |
| Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027  | 8625 | 8621 |
| Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028  | 3900 | 4053 |
| Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029  | 16280 | 16386 |
| Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029  | 10106 | 11037 |
| Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031  | 9012 | 10216 |
| Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046  | 2337 | 1683 |
| Teva Pharmaceutical Finance Netherlands IV BV 5.75% 12/1/2030  | 5265 | 5363 |
| UnitedHealth Group, Inc. 2.00% 5/15/2030  | 5404 | 4837 |
| UnitedHealth Group, Inc. 4.20% 5/15/2032  | 1442 | 1396 |
| UnitedHealth Group, Inc. 5.35% 2/15/2033  | 10110 | 10420 |
| UnitedHealth Group, Inc. 5.00% 4/15/2034  | 1187 | 1187 |
| UnitedHealth Group, Inc. 5.15% 7/15/2034  | 8261 | 8348 |
| UnitedHealth Group, Inc. 5.30% 6/15/2035  | 17832 | 18182 |
| UnitedHealth Group, Inc. 5.50% 7/15/2044  | 23000 | 22417 |
| UnitedHealth Group, Inc. 3.25% 5/15/2051  | 14216 | 9438 |
| UnitedHealth Group, Inc. 4.75% 5/15/2052  | 3613 | 3080 |
| UnitedHealth Group, Inc. 5.875% 2/15/2053  | 7300 | 7319 |
| UnitedHealth Group, Inc. 5.375% 4/15/2054  | 3314 | 3100 |
| UnitedHealth Group, Inc. 5.95% 6/15/2055  | 5484 | 5573 |
| UnitedHealth Group, Inc. 5.50% 4/15/2064  | 1540 | 1438 |
| Viatris, Inc. 4.00% 6/22/2050  | 10607 | 7071 |
| West Virginia United Health System Obligated Group 3.129% 6/1/2050  | 2775 | 1750 |
|  |  | 794981 |
| **Utilities 2.51%** | **Utilities 2.51%** | **Utilities 2.51%** |
| Aegea Finance SARL 9.00% 1/20/2031 <sup>(e)</sup>  | 6569 | 6981 |
| AEP Transmission Co., LLC 5.375% 6/15/2035  | 425 | 434 |
| AES Corp. 2.45% 1/15/2031  | 7500 | 6561 |
| AES Panama Generation Holdings, SRL 4.375% 5/31/2030 <sup>(e)</sup>  | 2681 | 2457 |
| Alabama Power Co. 5.85% 11/15/2033  | 2900 | 3095 |
| Alabama Power Co. 3.00% 3/15/2052  | 13130 | 8505 |

---

---

| | |
|:---|:---|
| **17** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** | **Utilities (continued)** | **Utilities (continued)** |
| Alfa Transmisora De Energia SA 4.55% 9/27/2051 <sup>(e)</sup>  | USD2,409 | $1774 |
| Alliant Energy Finance, LLC 3.60% 3/1/2032 <sup>(e)</sup>  | 6800 | 6164 |
| Baltimore Gas and Electric Co. 5.30% 6/1/2034  | 3940 | 4036 |
| CenterPoint Energy Houston Electric, LLC 5.05% 3/1/2035  | 2110 | 2109 |
| Comision Federal de Electricidad 6.45% 1/24/2035 <sup>(e)</sup>  | 7755 | 7664 |
| Consolidated Edison Company of New York, Inc. 5.375% 5/15/2034  | 2573 | 2658 |
| Duke Energy Florida, LLC 5.875% 11/15/2033  | 5192 | 5537 |
| Edison International 4.125% 3/15/2028  | 947 | 914 |
| Edison International 5.25% 11/15/2028  | 6371 | 6309 |
| Edison International 6.95% 11/15/2029  | 4094 | 4258 |
| Edison International 5.25% 3/15/2032  | 15485 | 14700 |
| Edison International 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 3.901% on 3/15/2027) <sup>(f)</sup>  | 10000 | 8669 |
| Edison International, junior subordinated, 7.875% 6/15/2054 (5-year UST Yield Curve Rate T Note Constant <br> Maturity + 3.658% on 6/15/2029) <sup>(f)</sup>  | 9390 | 8919 |
| Electricite de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T <br> Note Constant Maturity + 5.411% on 6/15/2033) <sup>(e)(f)</sup>  | 9825 | 11106 |
| Emera, Inc. 6.75% 6/15/2076 (3-month USD-LIBOR + 5.44% on 6/15/2026) <sup>(f)(k)</sup>  | 350 | 353 |
| Eversource Energy 5.50% 1/1/2034  | 7997 | 8148 |
| Florida Power & Light Co. 5.10% 4/1/2033  | 7251 | 7416 |
| Florida Power & Light Co. 5.30% 4/1/2053  | 5391 | 5158 |
| Georgia Power Co. 4.95% 5/17/2033  | 3882 | 3914 |
| Long Ridge Energy, LLC, 8.75% 2/15/2032 <sup>(e)</sup>  | 8260 | 8587 |
| Pacific Gas and Electric Co. 3.15% 1/1/2026  | 104 | 103 |
| Pacific Gas and Electric Co. 3.00% 6/15/2028  | 11450 | 10877 |
| Pacific Gas and Electric Co. 4.65% 8/1/2028  | 141 | 140 |
| Pacific Gas and Electric Co. 4.55% 7/1/2030  | 10477 | 10231 |
| Pacific Gas and Electric Co. 2.50% 2/1/2031  | 16284 | 14144 |
| Pacific Gas and Electric Co. 3.25% 6/1/2031  | 14750 | 13246 |
| Pacific Gas and Electric Co. 5.90% 6/15/2032  | 1338 | 1367 |
| Pacific Gas and Electric Co. 6.40% 6/15/2033  | 22961 | 24014 |
| Pacific Gas and Electric Co. 6.00% 8/15/2035  | 5423 | 5486 |
| Pacific Gas and Electric Co. 4.95% 7/1/2050  | 34339 | 27712 |
| Pacific Gas and Electric Co. 3.50% 8/1/2050  | 25925 | 16645 |
| Pacific Gas and Electric Co. 5.90% 10/1/2054  | 17574 | 15954 |
| PacifiCorp 5.45% 2/15/2034  | 18118 | 18385 |
| PacifiCorp 3.30% 3/15/2051  | 475 | 309 |
| PacifiCorp 2.90% 6/15/2052  | 2430 | 1441 |
| PacifiCorp 5.35% 12/1/2053  | 17645 | 15880 |
| PacifiCorp 5.50% 5/15/2054  | 22707 | 20909 |
| PacifiCorp 5.80% 1/15/2055  | 10938 | 10479 |
| PG&E Corp. 5.00% 7/1/2028  | 1995 | 1945 |
| PG&E Corp. 5.25% 7/1/2030  | 1485 | 1416 |
| PG&E Corp., junior subordinated, 7.375% 3/15/2055 (5-year UST Yield Curve Rate T Note Constant Maturity + <br> 3.883% on 3/15/2030) <sup>(f)</sup>  | 24350 | 23121 |
| Public Service Company of Colorado 2.70% 1/15/2051  | 1794 | 1071 |
| Public Service Electric and Gas Co. 4.85% 8/1/2034  | 5303 | 5290 |
| SMC Global Power Holdings Corp. 7.00% perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity <br> + 9.199% on 10/21/2025) <sup>(f)</sup>  | 600 | 602 |
| Snam SpA 5.75% 5/28/2035 <sup>(e)</sup>  | 2725 | 2785 |
| Snam SpA 6.50% 5/28/2055 <sup>(e)</sup>  | 1569 | 1632 |
| Southern California Edison Co. 2.85% 8/1/2029  | 1747 | 1618 |
| Southern California Edison Co. 5.25% 3/15/2030  | 4775 | 4826 |
| Southern California Edison Co. 2.75% 2/1/2032  | 12971 | 11188 |
| Southern California Edison Co. 5.20% 6/1/2034  | 5500 | 5338 |
| Southern California Edison Co. 5.45% 3/1/2035  | 17700 | 17386 |
| Southern California Edison Co. 4.00% 4/1/2047  | 1315 | 946 |
| Southern California Edison Co. 4.125% 3/1/2048  | 428 | 311 |
| Southern California Edison Co. 3.65% 2/1/2050  | 942 | 623 |
| Southern California Edison Co. 2.95% 2/1/2051  | 1005 | 589 |
| Southern California Edison Co. 3.45% 2/1/2052  | 15767 | 9920 |
| Southern California Edison Co. 5.90% 3/1/2055  | 12050 | 11034 |
| Southern California Edison Co. 6.20% 9/15/2055  | 2892 | 2772 |
| Talen Energy Supply, LLC 8.625% 6/1/2030 <sup>(e)</sup>  | 12341 | 13234 |
| Union Electric Co. 5.25% 4/15/2035  | 1125 | 1149 |
| Virginia Electric & Power 2.40% 3/30/2032  | 6100 | 5292 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **18** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Utilities (continued)** | **Utilities (continued)** | **Utilities (continued)** |
| Virginia Electric & Power 2.45% 12/15/2050  | USD8,041 | $4517 |
| Wisconsin Electric Power Co. 5.05% 10/1/2054  | 75 | 68 |
| Xcel Energy, Inc. 5.45% 8/15/2033  | 6338 | 6469 |
| Xcel Energy, Inc. 3.50% 12/1/2049  | 885 | 607 |
| YPF Energia Electrica SA 7.875% 10/16/2032 <sup>(e)</sup>  | 11150 | 11058 |
|  |  | 500555 |
| **Consumer discretionary 2.39%** | **Consumer discretionary 2.39%** | **Consumer discretionary 2.39%** |
| Advance Auto Parts, Inc. 5.95% 3/9/2028  | 1402 | 1435 |
| Advance Auto Parts, Inc. 3.50% 3/15/2032  | 3576 | 3134 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 5.614%) 9.935% <br>3/11/2030 <sup>(d)(g)(h)</sup>  | 448 | 448 |
| Aimbridge Acquisition Co., Inc., Term Loan, (1-month USD CME Term SOFR + 7.614%) 6.00% PIK and <br>5.947% Cash 3/11/2030 <sup>(d)(g)(h)(j)</sup>  | 410 | 410 |
| Allied Universal Holdco, LLC 4.625% 6/1/2028 <sup>(e)</sup>  | 1530 | 1486 |
| Allied Universal Holdco, LLC 6.875% 6/15/2030 <sup>(e)</sup>  | 10440 | 10591 |
| AutoNation, Inc. 5.89% 3/15/2035  | 16000 | 16239 |
| Boyd Gaming Corp. 4.75% 12/1/2027  | 2300 | 2287 |
| Caesars Entertainment, Inc. 6.50% 2/15/2032 <sup>(e)</sup>  | 16000 | 16428 |
| Carnival Corp. 5.75% 3/1/2027 <sup>(e)</sup>  | 11000 | 11098 |
| Carnival Corp. 4.00% 8/1/2028 <sup>(e)</sup>  | 11000 | 10773 |
| Carnival Corp. 6.00% 5/1/2029 <sup>(e)</sup>  | 14555 | 14716 |
| Carnival Corp. 7.00% 8/15/2029 <sup>(e)</sup>  | 6150 | 6483 |
| Carnival Corp. 5.75% 3/15/2030 <sup>(e)</sup>  | 7500 | 7632 |
| Carnival Corp. 6.125% 2/15/2033 <sup>(e)</sup>  | 4665 | 4776 |
| Cougar JV Subsidiary, LLC 8.00% 5/15/2032 <sup>(e)</sup>  | 1765 | 1883 |
| Daimler Trucks Finance North America, LLC 5.125% 1/19/2028 <sup>(e)</sup>  | 24000 | 24372 |
| Daimler Trucks Finance North America, LLC 2.375% 12/14/2028 <sup>(e)</sup>  | 7775 | 7259 |
| Daimler Trucks Finance North America, LLC 2.50% 12/14/2031 <sup>(e)</sup>  | 1874 | 1627 |
| Fertitta Entertainment, LLC 4.625% 1/15/2029 <sup>(e)</sup>  | 7685 | 7366 |
| Fertitta Entertainment, LLC 6.75% 1/15/2030 <sup>(e)</sup>  | 2340 | 2161 |
| Ford Motor Co. 4.75% 1/15/2043  | 3329 | 2563 |
| Ford Motor Co. 5.291% 12/8/2046  | 6671 | 5391 |
| Ford Motor Credit Co., LLC 2.70% 8/10/2026  | 7820 | 7616 |
| Ford Motor Credit Co., LLC 5.85% 5/17/2027  | 20000 | 20160 |
| Ford Motor Credit Co., LLC 4.95% 5/28/2027  | 7775 | 7727 |
| Ford Motor Credit Co., LLC 3.815% 11/2/2027  | 10000 | 9657 |
| Ford Motor Credit Co., LLC 5.918% 3/20/2028  | 7023 | 7096 |
| Ford Motor Credit Co., LLC 2.90% 2/10/2029  | 1994 | 1814 |
| Ford Motor Credit Co., LLC 7.20% 6/10/2030  | 2895 | 3048 |
| Ford Motor Credit Co., LLC 6.054% 11/5/2031  | 11239 | 11186 |
| Ford Motor Credit Co., LLC 7.122% 11/7/2033  | 4866 | 5052 |
| Ford Motor Credit Co., LLC 6.125% 3/8/2034  | 11134 | 10844 |
| General Motors Financial Co., Inc. 5.625% 4/4/2032  | 5337 | 5402 |
| General Motors Financial Co., Inc. 5.45% 9/6/2034  | 25757 | 25261 |
| GENM Capital Labuan, Ltd. 3.882% 4/19/2031  | 14000 | 12580 |
| Genting New York, LLC 7.25% 10/1/2029 <sup>(e)</sup>  | 2200 | 2284 |
| Grand Canyon University 4.375% 10/1/2026  | 7500 | 7341 |
| Grand Canyon University 5.125% 10/1/2028  | 7000 | 6807 |
| Great Canadian Gaming Corp. 8.75% 11/15/2029 <sup>(e)</sup>  | 2325 | 2277 |
| Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 2.75%) 7.077% 3/7/2032 <sup>(d)(h)</sup>  | 633 | 635 |
| Harley-Davidson Financial Services, Inc. 5.95% 6/11/2029 <sup>(e)</sup>  | 7333 | 7462 |
| Hilton Grand Vacations Borrower, LLC 5.00% 6/1/2029 <sup>(e)</sup>  | 3403 | 3275 |
| Home Depot, Inc. 4.85% 6/25/2031  | 2295 | 2355 |
| Home Depot, Inc. 4.95% 6/25/2034  | 3335 | 3377 |
| Home Depot, Inc. 5.875% 12/16/2036  | 1970 | 2114 |
| Home Depot, Inc. 4.95% 9/15/2052  | 1382 | 1258 |
| Home Depot, Inc. 5.40% 6/25/2064  | 14804 | 14230 |
| Jacobs Entertainment, Inc. 6.75% 2/15/2029 <sup>(e)</sup>  | 5305 | 5110 |
| LCM Investments Holdings II, LLC 8.25% 8/1/2031 <sup>(e)</sup>  | 4795 | 5102 |
| McDonald's Corp. 5.00% 5/17/2029  | 1424 | 1464 |
| McDonald's Corp. 4.95% 3/3/2035  | 4274 | 4273 |
| McDonald's Corp. 3.625% 9/1/2049  | 979 | 711 |
| McDonald's Corp. 4.20% 4/1/2050  | 2259 | 1795 |
| McDonald's Corp. 5.15% 9/9/2052  | 1601 | 1468 |

---

---

| | |
|:---|:---|
| **19** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| MercadoLibre, Inc. 2.375% 1/14/2026  | USD4,255 | $4197 |
| Mercury Aggregator, LP, Term Loan 2, 3.50% 4/3/2026 <sup>(g)(h)</sup>  | 11 | 4 |
| Mercury Aggregator, LP, Term Loan, 13.50% 4/3/2026 (16.00% on 8/3/2025) <sup>(f)(g)(h)</sup>  | 19 | 7 |
| Newell Brands, Inc. 8.50% 6/1/2028 <sup>(e)</sup>  | 1350 | 1421 |
| Newell Brands, Inc. 6.375% 5/15/2030  | 5675 | 5535 |
| Newell Brands, Inc. 6.625% 5/15/2032  | 8670 | 8292 |
| Newell Brands, Inc. 6.875% 4/1/2036  | 7980 | 7660 |
| Party City Holdings, Inc. 0% 10/12/2028 <sup>(g)(l)</sup>  | 560 | — <br><sup>(b)</sup><br>|
| Party City Holdco, Inc. 12.00% PIK 1/11/2029 <sup>(e)(g)(j)(m)</sup>  | 2594 | 259 |
| Royal Caribbean Cruises, Ltd. 4.25% 7/1/2026 <sup>(e)</sup>  | 16160 | 16089 |
| Royal Caribbean Cruises, Ltd. 5.50% 4/1/2028 <sup>(e)</sup>  | 5000 | 5065 |
| Royal Caribbean Cruises, Ltd. 5.625% 9/30/2031 <sup>(e)</sup>  | 13735 | 13827 |
| Starbucks Corp. 5.00% 2/15/2034  | 5061 | 5099 |
| Stellantis Finance US, Inc. 6.45% 3/18/2035 <sup>(e)</sup>  | 14811 | 14890 |
| Toyota Motor Credit Corp. 3.375% 4/1/2030  | 2865 | 2740 |
| Universal Entertainment Corp. 9.875% 8/1/2029 <sup>(e)</sup>  | 7400 | 7238 |
| Vail Resorts, Inc. 5.625% 7/15/2030 <sup>(e)</sup>  | 1735 | 1742 |
| Wynn Resorts Finance, LLC 7.125% 2/15/2031 <sup>(e)</sup>  | 5229 | 5580 |
| ZF North America Capital, Inc. 6.75% 4/23/2030 <sup>(e)</sup>  | 14645 | 14082 |
|  |  | 475066 |
| **Communication services 2.28%** | **Communication services 2.28%** | **Communication services 2.28%** |
| Alphabet, Inc. 4.50% 5/15/2035  | 7623 | 7526 |
| Alphabet, Inc. 5.25% 5/15/2055  | 440 | 434 |
| America Movil, SAB de CV, 10.125% 1/22/2029  | MXN1,103,000 | 60589 |
| America Movil, SAB de CV, 9.50% 1/27/2031  | 823210 | 44020 |
| AT&T, Inc. 4.35% 3/1/2029  | USD1,250 | 1253 |
| AT&T, Inc. 3.50% 9/15/2053  | 22215 | 15048 |
| AT&T, Inc. 3.55% 9/15/2055  | 2078 | 1403 |
| CCO Holdings, LLC 4.75% 2/1/2032 <sup>(e)</sup>  | 20000 | 18983 |
| CCO Holdings, LLC 4.50% 6/1/2033 <sup>(e)</sup>  | 7875 | 7203 |
| CCO Holdings, LLC 4.25% 1/15/2034 <sup>(e)</sup>  | 8725 | 7772 |
| Charter Communications Operating, LLC 4.80% 3/1/2050  | 6043 | 4838 |
| Charter Communications Operating, LLC 3.70% 4/1/2051  | 2964 | 1976 |
| Charter Communications Operating, LLC 3.90% 6/1/2052  | 7235 | 4970 |
| Charter Communications Operating, LLC 5.25% 4/1/2053  | 13972 | 11878 |
| Comcast Corp. 5.65% 6/1/2054  | 7188 | 6990 |
| Connect Finco SARL 9.00% 9/15/2029 <sup>(e)</sup>  | 20360 | 20490 |
| Consolidated Communications, Inc. 5.00% 10/1/2028 <sup>(e)</sup>  | 2800 | 2831 |
| DISH Network Corp. 11.75% 11/15/2027 <sup>(e)</sup>  | 17150 | 17692 |
| EchoStar Corp. 10.75% 11/30/2029  | 12000 | 12370 |
| Embarq, LLC 7.995% 6/1/2036  | 1250 | 574 |
| Gray Media, Inc. 10.50% 7/15/2029 <sup>(e)</sup>  | 12925 | 13895 |
| Gray Media, Inc. 5.375% 11/15/2031 <sup>(e)</sup>  | 1686 | 1266 |
| Gray Television, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 9.574% 6/4/2029 <sup>(d)(h)</sup>  | 4994 | 4993 |
| Meta Platforms, Inc. 4.45% 8/15/2052  | 22500 | 18984 |
| Meta Platforms, Inc. 5.40% 8/15/2054  | 5297 | 5170 |
| Netflix, Inc. 4.90% 8/15/2034  | 3443 | 3511 |
| Netflix, Inc. 5.40% 8/15/2054  | 193 | 191 |
| News Corp. 3.875% 5/15/2029 <sup>(e)</sup>  | 3725 | 3567 |
| Nexstar Media, Inc. 4.75% 11/1/2028 <sup>(e)</sup>  | 6000 | 5848 |
| Sirius XM Radio, LLC 4.00% 7/15/2028 <sup>(e)</sup>  | 7600 | 7305 |
| Sirius XM Radio, LLC 5.50% 7/1/2029 <sup>(e)</sup>  | 3150 | 3131 |
| Sirius XM Radio, LLC 4.125% 7/1/2030 <sup>(e)</sup>  | 7864 | 7256 |
| Sirius XM Radio, LLC 3.875% 9/1/2031 <sup>(e)</sup>  | 10575 | 9407 |
| Snap, Inc. 6.875% 3/1/2033 <sup>(e)</sup>  | 6125 | 6289 |
| Stagwell Global, LLC 5.625% 8/15/2029 <sup>(e)</sup>  | 5810 | 5563 |
| T-Mobile USA, Inc. 2.55% 2/15/2031  | 19963 | 17881 |
| T-Mobile USA, Inc. 2.875% 2/15/2031  | 3037 | 2766 |
| T-Mobile USA, Inc. 5.30% 5/15/2035  | 2812 | 2848 |
| T-Mobile USA, Inc. 5.875% 11/15/2055  | 1602 | 1602 |
| Univision Communications, Inc. 6.625% 6/1/2027 <sup>(e)</sup>  | 7100 | 7087 |
| Univision Communications, Inc. 8.00% 8/15/2028 <sup>(e)</sup>  | 5485 | 5571 |
| Univision Communications, Inc. 4.50% 5/1/2029 <sup>(e)</sup>  | 6750 | 6144 |
| Univision Communications, Inc. 7.375% 6/30/2030 <sup>(e)</sup>  | 10075 | 9909 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **20** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Communication services (continued)** | **Communication services (continued)** | **Communication services (continued)** |
| Univision Communications, Inc. 8.50% 7/31/2031 <sup>(e)</sup>  | USD9,750 | $9770 |
| Verizon Communications, Inc. 2.55% 3/21/2031  | 8188 | 7346 |
| Verizon Communications, Inc. 5.25% 4/2/2035  | 3037 | 3063 |
| Verizon Communications, Inc. 3.55% 3/22/2051  | 15000 | 10733 |
| WarnerMedia Holdings, Inc. 5.05% 3/15/2042  | 14987 | 10097 |
| WarnerMedia Holdings, Inc. 5.141% 3/15/2052  | 9067 | 6370 |
| X Corp., Term Loan B, (USD-SOFR + 6.50%) 10.927% 10/26/2029 <sup>(d)(h)</sup>  | 7974 | 7801 |
|  |  | 454204 |
| **Materials 2.22%** | **Materials 2.22%** | **Materials 2.22%** |
| Ball Corp. 2.875% 8/15/2030  | 14060 | 12686 |
| BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033  | 4431 | 4451 |
| BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033  | 22008 | 22547 |
| BHP Billiton Finance (USA), Ltd. 5.50% 9/8/2053  | 5284 | 5233 |
| Braskem Netherlands Finance BV 4.50% 1/10/2028  | 4397 | 3791 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031 <sup>(e)</sup>  | 8660 | 7578 |
| Braskem Netherlands Finance BV 8.50% 1/12/2031  | 2603 | 2278 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033 <sup>(e)</sup>  | 7945 | 6299 |
| Braskem Netherlands Finance BV 7.25% 2/13/2033  | 3000 | 2379 |
| Braskem Netherlands Finance BV 8.00% 10/15/2034 <sup>(e)</sup>  | 12300 | 9860 |
| Celanese US Holdings, LLC 6.85% 11/15/2028  | 12754 | 13410 |
| Celanese US Holdings, LLC 6.50% 4/15/2030  | 15000 | 15365 |
| Celanese US Holdings, LLC 6.629% 7/15/2032  | 6000 | 6294 |
| Celanese US Holdings, LLC 7.20% 11/15/2033  | 19921 | 21160 |
| Celulosa Arauco y Constitucion SA 6.18% 5/5/2032 <sup>(e)</sup>  | 5270 | 5381 |
| Cleveland-Cliffs, Inc. 6.875% 11/1/2029 <sup>(e)</sup>  | 10000 | 9854 |
| Cleveland-Cliffs, Inc. 7.50% 9/15/2031 <sup>(e)</sup>  | 8675 | 8374 |
| Cleveland-Cliffs, Inc. 7.00% 3/15/2032 <sup>(e)</sup>  | 10000 | 9439 |
| Cleveland-Cliffs, Inc. 7.375% 5/1/2033 <sup>(e)</sup>  | 10000 | 9396 |
| Consolidated Energy Finance SA 6.50% 5/15/2026 <sup>(e)</sup>  | 785 | 763 |
| Consolidated Energy Finance SA 12.00% 2/15/2031 <sup>(e)</sup>  | 17300 | 16990 |
| CVR Partners, LP 6.125% 6/15/2028 <sup>(e)</sup>  | 5290 | 5302 |
| Dow Chemical Co. (The) 5.15% 2/15/2034  | 6697 | 6699 |
| Dow Chemical Co. (The) 5.35% 3/15/2035  | 4153 | 4133 |
| Dow Chemical Co. (The) 5.55% 11/30/2048  | 1755 | 1605 |
| Dow Chemical Co. (The) 6.90% 5/15/2053  | 768 | 827 |
| Dow Chemical Co. (The) 5.60% 2/15/2054  | 6224 | 5672 |
| Dow Chemical Co. (The) 5.95% 3/15/2055  | 1825 | 1741 |
| EIDP, Inc. 5.125% 5/15/2032  | 13361 | 13638 |
| First Quantum Minerals, Ltd. 6.875% 10/15/2027 <sup>(e)</sup>  | 3062 | 3069 |
| First Quantum Minerals, Ltd. 9.375% 3/1/2029 <sup>(e)</sup>  | 11200 | 11901 |
| First Quantum Minerals, Ltd. 8.00% 3/1/2033 <sup>(e)</sup>  | 2225 | 2285 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(e)</sup>  | 13721 | 12090 |
| FXI Holdings, Inc. 12.25% 11/15/2026 <sup>(e)</sup>  | 8422 | 7456 |
| International Flavors & Fragrances, Inc. 2.30% 11/1/2030 <sup>(e)</sup>  | 7758 | 6859 |
| JH North America Holdings, Inc. 5.875% 1/31/2031 <sup>(e)</sup>  | 985 | 994 |
| JH North America Holdings, Inc. 6.125% 7/31/2032 <sup>(e)</sup>  | 955 | 971 |
| LYB International Finance III, LLC 5.50% 3/1/2034  | 6132 | 6124 |
| LYB International Finance III, LLC 6.15% 5/15/2035  | 23118 | 24006 |
| LYB International Finance III, LLC 4.20% 5/1/2050  | 2800 | 2081 |
| LYB International Finance III, LLC 3.625% 4/1/2051  | 8366 | 5602 |
| Magnera Corp. 7.25% 11/15/2031 <sup>(e)</sup>  | 12000 | 11325 |
| Mauser Packaging Solutions Holding Co. 7.875% 8/15/2026 <sup>(e)</sup>  | 12605 | 12625 |
| Mauser Packaging Solutions Holding Co. 7.875% 4/15/2027 <sup>(e)</sup>  | 9000 | 9159 |
| Minera Mexico SA de CV, 5.625% 2/12/2032 <sup>(e)</sup>  | 8590 | 8745 |
| Mineral Resources, Ltd. 9.25% 10/1/2028 <sup>(e)</sup>  | 8230 | 8433 |
| NOVA Chemicals Corp. 4.25% 5/15/2029 <sup>(e)</sup>  | 10000 | 9624 |
| NOVA Chemicals Corp. 9.00% 2/15/2030 <sup>(e)</sup>  | 6005 | 6493 |
| OCI NV 6.70% 3/16/2033 <sup>(e)</sup>  | 11039 | 12228 |
| PT Krakatau Posco 6.375% 6/11/2029  | 15000 | 15059 |
| Quikrete Holdings, Inc. 6.75% 3/1/2033 <sup>(e)</sup>  | 2050 | 2117 |
| Rio Tinto Finance (USA) PLC 5.25% 3/14/2035  | 2557 | 2603 |
| Rio Tinto Finance (USA) PLC 5.75% 3/14/2055  | 1557 | 1561 |

---

---

| | |
|:---|:---|
| **21** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Materials (continued)** | **Materials (continued)** | **Materials (continued)** |
| Sasol Financing USA, LLC 8.75% 5/3/2029 <sup>(e)</sup>  | USD15,000 | $14865 |
| Vale Overseas, Ltd. 6.40% 6/28/2054  | 8362 | 8226 |
| Veritiv Operating Co. 10.50% 11/30/2030 <sup>(e)</sup>  | 2165 | 2346 |
|  |  | 441992 |
| **Industrials 2.20%** | **Industrials 2.20%** | **Industrials 2.20%** |
| Ambipar Lux SARL 10.875% 2/5/2033 <sup>(e)</sup>  | 3705 | 3511 |
| Apple Bidco, LLC, Term Loan, (3-month USD CME Term SOFR + 2.50%) 6.827% 9/23/2031 <sup>(d)(h)</sup>  | 8686 | 8694 |
| BAE Systems PLC 5.30% 3/26/2034 <sup>(e)</sup>  | 13303 | 13606 |
| Boeing Co. (The) 5.15% 5/1/2030  | 16036 | 16334 |
| Boeing Co. (The) 3.625% 2/1/2031  | 4998 | 4711 |
| Boeing Co. (The) 6.388% 5/1/2031  | 4887 | 5254 |
| Boeing Co. (The) 6.528% 5/1/2034  | 17357 | 18870 |
| Boeing Co. (The) 5.705% 5/1/2040  | 4000 | 3954 |
| Boeing Co. (The) 5.805% 5/1/2050  | 14118 | 13552 |
| Boeing Co. (The) 6.858% 5/1/2054  | 9599 | 10518 |
| Boeing Co. (The) 5.93% 5/1/2060  | 11000 | 10466 |
| Boeing Co. (The) 7.008% 5/1/2064  | 2003 | 2202 |
| Bombardier, Inc. 7.125% 6/15/2026 <sup>(e)</sup>  | 1675 | 1680 |
| Bombardier, Inc. 7.875% 4/15/2027 <sup>(e)</sup>  | 272 | 274 |
| Bombardier, Inc. 6.00% 2/15/2028 <sup>(e)</sup>  | 4180 | 4208 |
| Bombardier, Inc. 7.50% 2/1/2029 <sup>(e)</sup>  | 9000 | 9456 |
| Bombardier, Inc. 8.75% 11/15/2030 <sup>(e)</sup>  | 9075 | 9836 |
| Burlington Northern Santa Fe, LLC 3.30% 9/15/2051  | 3856 | 2676 |
| Canadian National Railway Co. 4.375% 9/18/2034  | 1579 | 1523 |
| Canadian Pacific Railway Co. 2.05% 3/5/2030  | 2000 | 1802 |
| Canadian Pacific Railway Co. 3.00% 12/2/2041  | 4184 | 3045 |
| Canadian Pacific Railway Co. 3.10% 12/2/2051  | 13038 | 8579 |
| Carrier Global Corp. 5.90% 3/15/2034  | 13377 | 14250 |
| Carrier Global Corp. 6.20% 3/15/2054  | 5803 | 6225 |
| Caterpillar, Inc. 5.20% 5/15/2035  | 4018 | 4098 |
| CoreLogic, Inc. 4.50% 5/1/2028 <sup>(e)</sup>  | 2550 | 2435 |
| CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 10.941% 6/4/2029 <sup>(d)(h)</sup>  | 3375 | 3284 |
| Embraer Netherlands Finance BV 5.98% 2/11/2035  | 1985 | 2047 |
| EquipmentShare.com, Inc. 9.00% 5/15/2028 <sup>(e)</sup>  | 5715 | 6045 |
| EquipmentShare.com, Inc. 8.625% 5/15/2032 <sup>(e)</sup>  | 7115 | 7570 |
| EquipmentShare.com, Inc. 8.00% 3/15/2033 <sup>(e)</sup>  | 7000 | 7339 |
| General Dynamics Corp. 4.95% 8/15/2035  | 2533 | 2544 |
| Herc Holdings, Inc. 6.625% 6/15/2029 <sup>(e)</sup>  | 4785 | 4913 |
| Herc Holdings, Inc. 7.00% 6/15/2030 <sup>(e)</sup>  | 3555 | 3715 |
| Herc Holdings, Inc. 7.25% 6/15/2033 <sup>(e)</sup>  | 2075 | 2176 |
| Hertz Corp. (The) 4.625% 12/1/2026 <sup>(e)</sup>  | 4205 | 3772 |
| Hertz Corp. (The), Term Loan B-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.041% 6/30/2028 <sup>(d)(h)</sup>  | 1278 | 1067 |
| Hertz Corp. (The), Term Loan C-EXIT, (3-month USD CME Term SOFR + 3.50%) 8.041% 6/30/2028 <sup>(d)(h)</sup>  | 250 | 209 |
| Honeywell International, Inc. 5.00% 3/1/2035  | 24542 | 24711 |
| Icahn Enterprises, LP 6.25% 5/15/2026  | 3500 | 3478 |
| Icahn Enterprises, LP 5.25% 5/15/2027  | 6500 | 6304 |
| Icahn Enterprises, LP 9.75% 1/15/2029  | 13000 | 12645 |
| Icahn Enterprises, LP 10.00% 11/15/2029 <sup>(e)</sup>  | 2695 | 2671 |
| Ingersoll-Rand, Inc. 5.45% 6/15/2034  | 405 | 417 |
| IRB Infrastructure Developers, Ltd. 7.11% 3/11/2032 <sup>(e)</sup>  | 13660 | 13711 |
| LATAM Airlines Group SA 7.875% 4/15/2030 <sup>(e)</sup>  | 1034 | 1056 |
| Lockheed Martin Corp. 4.80% 8/15/2034  | 8128 | 8106 |
| Mileage Plus Holdings, LLC 6.50% 6/20/2027 <sup>(e)</sup>  | 1562 | 1565 |
| NESCO Holdings II, Inc. 5.50% 4/15/2029 <sup>(e)</sup>  | 14000 | 13649 |
| Norfolk Southern Corp. 4.45% 3/1/2033  | 2751 | 2693 |
| Norfolk Southern Corp. 5.55% 3/15/2034  | 6140 | 6423 |
| Norfolk Southern Corp. 5.10% 5/1/2035  | 219 | 220 |
| Norfolk Southern Corp. 5.35% 8/1/2054  | 15905 | 15205 |
| Paychex, Inc. 5.60% 4/15/2035  | 1644 | 1700 |
| PM General Purchaser, LLC 9.50% 10/1/2028 <sup>(e)</sup>  | 945 | 656 |
| QXO Building Products, Inc. 6.75% 4/30/2032 <sup>(e)</sup>  | 6420 | 6630 |
| Regal Rexnord Corp. 6.30% 2/15/2030  | 15000 | 15720 |
| Regal Rexnord Corp. 6.40% 4/15/2033  | 15000 | 15846 |
| RTX Corp. 5.375% 2/27/2053  | 12191 | 11679 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **22** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| Sabre GLBL, Inc. 11.125% 7/15/2030 <sup>(e)</sup>  | USD8,775 | $9190 |
| SkyMiles IP, Ltd. 4.50% 10/20/2025 <sup>(e)</sup>  | 751 | 749 |
| SkyMiles IP, Ltd. 4.75% 10/20/2028 <sup>(e)</sup>  | 2760 | 2768 |
| SkyMiles IP, Ltd., Term Loan, (3-month USD CME Term SOFR + 3.75%) 8.022% 10/20/2027 <sup>(d)(h)</sup>  | 920 | 927 |
| Texas Combined Tirz I, LLC 0% 12/7/2062 <sup>(e)(g)</sup>  | 3300 | 3300 |
| TK Elevator U.S. Newco, Inc. 5.25% 7/15/2027 <sup>(e)</sup>  | 2625 | 2625 |
| TransDigm, Inc. 4.875% 5/1/2029  | 1990 | 1957 |
| Union Pacific Corp. 2.95% 3/10/2052  | 9118 | 5824 |
| United Airlines, Inc. 4.375% 4/15/2026 <sup>(e)</sup>  | 3605 | 3583 |
| United Airlines, Inc. 4.625% 4/15/2029 <sup>(e)</sup>  | 2920 | 2836 |
| United Parcel Service, Inc. 5.25% 5/14/2035  | 3822 | 3899 |
| United Parcel Service, Inc. 5.95% 5/14/2055  | 3682 | 3781 |
| United Parcel Service, Inc. 6.05% 5/14/2065  | 1385 | 1419 |
| WESCO Distribution, Inc. 7.25% 6/15/2028 <sup>(e)</sup>  | 3095 | 3136 |
|  |  | 437519 |
| **Consumer staples 1.82%** | **Consumer staples 1.82%** | **Consumer staples 1.82%** |
| Albertsons Cos., Inc. 3.50% 3/15/2029 <sup>(e)</sup>  | 5730 | 5435 |
| Altria Group, Inc. 5.625% 2/6/2035  | 7386 | 7535 |
| BAT Capital Corp. 2.726% 3/25/2031  | 5000 | 4505 |
| BAT Capital Corp. 4.742% 3/16/2032  | 10000 | 9947 |
| BAT Capital Corp. 6.421% 8/2/2033  | 5707 | 6201 |
| BAT Capital Corp. 6.00% 2/20/2034  | 15000 | 15819 |
| BAT Capital Corp. 5.625% 8/15/2035  | 23768 | 24196 |
| BAT Capital Corp. 5.65% 3/16/2052  | 4750 | 4430 |
| BAT Capital Corp. 7.081% 8/2/2053  | 11800 | 13152 |
| Campbell's Co. (The) 4.75% 3/23/2035  | 6083 | 5847 |
| Campbell's Co. (The) 5.25% 10/13/2054  | 1100 | 1004 |
| Coca-Cola Co. 4.65% 8/14/2034  | 757 | 761 |
| Coca-Cola Co. 5.30% 5/13/2054  | 533 | 519 |
| Coca-Cola Co. 5.20% 1/14/2055  | 5751 | 5510 |
| Coca-Cola Consolidated, Inc. 5.45% 6/1/2034  | 5375 | 5542 |
| Constellation Brands, Inc. 4.35% 5/9/2027  | 11513 | 11520 |
| Constellation Brands, Inc. 4.75% 5/9/2032  | 6096 | 6060 |
| Diageo Investment Corp. 5.625% 4/15/2035  | 6252 | 6541 |
| H.J. Heinz Co. 3.00% 6/1/2026  | 2567 | 2534 |
| H.J. Heinz Co. 3.875% 5/15/2027  | 2236 | 2219 |
| Hershey Co. 5.10% 2/24/2035  | 4958 | 5040 |
| Imperial Brands Finance PLC 5.875% 7/1/2034 <sup>(e)</sup>  | 16377 | 16821 |
| Imperial Brands Finance PLC 5.625% 7/1/2035 <sup>(e)</sup>  | 1593 | 1599 |
| Imperial Brands Finance PLC 6.375% 7/1/2055 <sup>(e)</sup>  | 784 | 796 |
| Keurig Dr Pepper, Inc. 5.15% 5/15/2035  | 10334 | 10316 |
| Kroger Co. 5.50% 9/15/2054  | 6261 | 5947 |
| Kronos Acquisition Holdings, Inc. 8.25% 6/30/2031 <sup>(e)</sup>  | 5860 | 5328 |
| Kronos Acquisition Holdings, Inc. 10.75% 6/30/2032 <sup>(e)</sup>  | 7975 | 5805 |
| Mars, Inc. 5.20% 3/1/2035 <sup>(e)</sup>  | 26888 | 27224 |
| Mars, Inc. 5.65% 5/1/2045 <sup>(e)</sup>  | 6205 | 6224 |
| Mars, Inc. 5.70% 5/1/2055 <sup>(e)</sup>  | 11531 | 11511 |
| Mars, Inc. 5.80% 5/1/2065 <sup>(e)</sup>  | 1905 | 1903 |
| Minerva Luxembourg SA 8.875% 9/13/2033 <sup>(e)</sup>  | 10745 | 11614 |
| Philip Morris International, Inc. 5.75% 11/17/2032  | 1634 | 1728 |
| Philip Morris International, Inc. 5.625% 9/7/2033  | 15138 | 15869 |
| Philip Morris International, Inc. 5.25% 2/13/2034  | 9950 | 10154 |
| Philip Morris International, Inc. 4.90% 11/1/2034  | 20000 | 19919 |
| Philip Morris International, Inc. 4.875% 4/30/2035  | 1163 | 1148 |
| Post Holdings, Inc. 4.625% 4/15/2030 <sup>(e)</sup>  | 4000 | 3849 |
| Post Holdings, Inc. 4.50% 9/15/2031 <sup>(e)</sup>  | 10920 | 10146 |
| Post Holdings, Inc. 6.375% 3/1/2033 <sup>(e)</sup>  | 25000 | 25290 |
| Procter & Gamble Co. 4.60% 5/1/2035  | 3765 | 3769 |
| Target Corp. 4.50% 9/15/2034  | 5419 | 5255 |
| Target Corp. 5.00% 4/15/2035  | 5065 | 5059 |
| Walmart, Inc. 4.90% 4/28/2035  | 10051 | 10184 |
|  |  | 361775 |

---

---

| | |
|:---|:---|
| **23** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Information technology 1.81%** | **Information technology 1.81%** | **Information technology 1.81%** |
| Accenture Capital, Inc. 4.50% 10/4/2034  | USD4,181 | $4071 |
| Acuris Finance US, Inc. 9.00% 8/1/2029 <sup>(e)</sup>  | 16675 | 17112 |
| Analog Devices, Inc. 2.10% 10/1/2031  | 12879 | 11257 |
| Apple, Inc. 4.75% 5/12/2035  | 5002 | 5044 |
| AppLovin Corp. 5.50% 12/1/2034  | 15000 | 15236 |
| Broadcom, Inc. 5.15% 11/15/2031  | 8371 | 8615 |
| Broadcom, Inc. 4.55% 2/15/2032  | 7771 | 7702 |
| Broadcom, Inc. 3.469% 4/15/2034 <sup>(e)</sup>  | 4000 | 3575 |
| Broadcom, Inc. 4.80% 10/15/2034  | 7863 | 7771 |
| Broadcom, Inc. 3.187% 11/15/2036 <sup>(e)</sup>  | 5996 | 4973 |
| Cisco Systems, Inc. 5.05% 2/26/2034  | 28839 | 29531 |
| Cisco Systems, Inc. 5.30% 2/26/2054  | 2050 | 1990 |
| Cloud Software Group, Inc. 9.00% 9/30/2029 <sup>(e)</sup>  | 14175 | 14706 |
| Cloud Software Group, Inc. 8.25% 6/30/2032 <sup>(e)</sup>  | 10000 | 10652 |
| Cloud Software Group, Inc., Term Loan B1, (3-month USD CME Term SOFR + 3.50%) 7.796% <br>3/29/2029 <sup>(d)(h)</sup>  | 8019 | 8034 |
| CommScope, LLC 7.125% 7/1/2028 <sup>(e)</sup>  | 2162 | 2126 |
| Diebold Nixdorf, Inc. 7.75% 3/31/2030 <sup>(e)</sup>  | 11875 | 12628 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(d)(h)(i)</sup>  | 2878 | 2900 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 11.428% 9/13/2029 <sup>(d)(h)(i)</sup>  | 60 | 60 |
| Helios Software Holdings, Inc. 8.75% 5/1/2029 <sup>(e)</sup>  | 16850 | 17347 |
| ION Trading Technologies SARL 9.50% 5/30/2029 <sup>(e)</sup>  | 14210 | 14665 |
| Microchip Technology, Inc. 5.05% 2/15/2030  | 12476 | 12661 |
| Micron Technology, Inc. 6.05% 11/1/2035  | 15000 | 15704 |
| NCR Atleos Corp. 9.50% 4/1/2029 <sup>(e)</sup>  | 14074 | 15427 |
| Oracle Corp. 5.50% 8/3/2035  | 15000 | 15339 |
| Oracle Corp. 3.60% 4/1/2050  | 5000 | 3500 |
| Oracle Corp. 3.95% 3/25/2051  | 4145 | 3062 |
| Roper Technologies, Inc. 4.90% 10/15/2034  | 16164 | 15948 |
| Synopsys, Inc. 5.70% 4/1/2055  | 25000 | 24874 |
| Texas Instruments, Inc. 4.85% 2/8/2034  | 5003 | 5084 |
| UKG, Inc. 6.875% 2/1/2031 <sup>(e)</sup>  | 7850 | 8150 |
| Unisys Corp. 10.625% 1/15/2031 <sup>(e)</sup>  | 11568 | 11926 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/22/2026) <sup>(f)(i)(j)</sup>  | 10752 | 10876 |
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% on 6/23/2026) <sup>(f)(i)(j)</sup>  | 1513 | 1530 |
| X.Ai Corp. 12.50% 6/30/2030  | 17220 | 17220 |
|  |  | 361296 |
| **Real estate 1.18%** | **Real estate 1.18%** | **Real estate 1.18%** |
| Boston Properties, LP 6.50% 1/15/2034  | 11823 | 12664 |
| Boston Properties, LP 5.75% 1/15/2035  | 18868 | 19000 |
| Corp. Inmobiliaria Vesta, SAB de CV, 3.625% 5/13/2031 <sup>(e)</sup>  | 4075 | 3606 |
| Crown Castle, Inc. 5.00% 1/11/2028  | 1877 | 1896 |
| Equinix, Inc. 3.40% 2/15/2052  | 4370 | 2933 |
| ERP Operating, LP 4.65% 9/15/2034  | 1376 | 1336 |
| FibraSOMA 4.375% 7/22/2031 <sup>(e)</sup>  | 7079 | 5530 |
| Fideicomiso Fibra Uno 7.70% 1/23/2032 <sup>(e)</sup>  | 1831 | 1910 |
| Fideicomiso Fibra Uno 8.25% 1/23/2037 <sup>(e)</sup>  | 5000 | 5277 |
| First Industrial, LP 5.25% 1/15/2031  | 4315 | 4367 |
| GLP Capital, LP 4.00% 1/15/2030  | 2000 | 1924 |
| Howard Hughes Corp. (The) 4.125% 2/1/2029 <sup>(e)</sup>  | 275 | 262 |
| Hudson Pacific Properties, LP 4.65% 4/1/2029  | 182 | 164 |
| Hudson Pacific Properties, LP 3.25% 1/15/2030  | 3818 | 3125 |
| Kennedy-Wilson, Inc. 4.75% 3/1/2029  | 5020 | 4709 |
| Kennedy-Wilson, Inc. 4.75% 2/1/2030  | 2375 | 2177 |
| Kennedy-Wilson, Inc. 5.00% 3/1/2031  | 5590 | 5043 |
| Kilroy Realty, LP 6.25% 1/15/2036  | 10775 | 10749 |
| Ladder Capital Finance Holdings LLLP 5.50% 8/1/2030  | 3868 | 3896 |
| Mid-America Apartments, LP 4.95% 3/1/2035  | 2500 | 2484 |
| MPT Operating Partnership, LP 5.00% 10/15/2027  | 6570 | 6074 |
| MPT Operating Partnership, LP 8.50% 2/15/2032 <sup>(e)</sup>  | 35557 | 37241 |
| Prologis, LP 5.00% 3/15/2034  | 3430 | 3441 |
| Prologis, LP 5.25% 3/15/2054  | 650 | 611 |
| Public Storage Operating Co. 5.35% 8/1/2053  | 10690 | 10270 |
| Service Properties Trust 4.95% 2/15/2027  | 6850 | 6766 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **24** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** | **Corporate bonds, notes & loans (continued)** |
| **Real estate (continued)** | **Real estate (continued)** | **Real estate (continued)** |
| Service Properties Trust 3.95% 1/15/2028  | USD1,650 | $1525 |
| Service Properties Trust 8.375% 6/15/2029  | 12530 | 13042 |
| Service Properties Trust 4.95% 10/1/2029  | 10520 | 9190 |
| Service Properties Trust 4.375% 2/15/2030  | 7365 | 6200 |
| Service Properties Trust 8.625% 11/15/2031 <sup>(e)</sup>  | 5145 | 5527 |
| Service Properties Trust 8.875% 6/15/2032  | 5930 | 6103 |
| Simon Property Group, LP 4.75% 9/26/2034  | 5055 | 4924 |
| VICI Properties, LP 3.75% 2/15/2027 <sup>(e)</sup>  | 955 | 941 |
| VICI Properties, LP 3.875% 2/15/2029 <sup>(e)</sup>  | 6800 | 6582 |
| VICI Properties, LP 4.125% 8/15/2030 <sup>(e)</sup>  | 2645 | 2540 |
| VICI Properties, LP 5.125% 5/15/2032  | 19250 | 19191 |
| VICI Properties, LP 5.625% 4/1/2035  | 2023 | 2042 |
|  |  | 235262 |
| **Municipals 0.03%** | **Municipals 0.03%** | **Municipals 0.03%** |
| I-20 Lancaster Fund, LLC 12.00% 1/15/2035 <sup>(e)</sup>  | 6677 | 6465 |
| **Total corporate bonds, notes & loans** |  | 6279086 |
| **U.S. Treasury bonds & notes 14.38%** | **U.S. Treasury bonds & notes 14.38%** | **U.S. Treasury bonds & notes 14.38%** |
| **U.S. Treasury 8.78%** | **U.S. Treasury 8.78%** | **U.S. Treasury 8.78%** |
| U.S. Treasury 4.25% 1/31/2026  | 941 | 941 |
| U.S. Treasury 1.875% 6/30/2026  | 283 | 277 |
| U.S. Treasury 0.875% 9/30/2026  | 1047 | 1008 |
| U.S. Treasury 1.625% 9/30/2026  | 193 | 187 |
| U.S. Treasury 1.75% 12/31/2026  | 12462 | 12087 |
| U.S. Treasury 4.25% 12/31/2026  | 5793 | 5827 |
| U.S. Treasury 4.00% 1/15/2027  | 10012 | 10036 |
| U.S. Treasury 3.875% 5/31/2027  | 11943 | 11971 |
| U.S. Treasury 3.75% 6/30/2027  | 17758 | 17770 |
| U.S. Treasury 4.125% 10/31/2027  | 954 | 963 |
| U.S. Treasury 3.625% 3/31/2028  | 3156 | 3150 |
| U.S. Treasury 3.75% 5/15/2028  | 5722 | 5731 |
| U.S. Treasury 3.875% 6/15/2028  | 45500 | 45740 |
| U.S. Treasury 4.875% 10/31/2028  | 2631 | 2726 |
| U.S. Treasury 3.125% 11/15/2028  | 205 | 201 |
| U.S. Treasury 4.375% 11/30/2028  | 2439 | 2490 |
| U.S. Treasury 3.75% 12/31/2028  | 11803 | 11814 |
| U.S. Treasury 4.00% 1/31/2029  | 9986 | 10076 |
| U.S. Treasury 4.125% 3/31/2029  | 2797 | 2835 |
| U.S. Treasury 4.625% 4/30/2029  | 9774 | 10081 |
| U.S. Treasury 4.00% 7/31/2029  | 205 | 207 |
| U.S. Treasury 3.50% 9/30/2029  | 4560 | 4514 |
| U.S. Treasury 4.125% 10/31/2029  | 142 | 144 |
| U.S. Treasury 4.125% 11/30/2029  | 190 | 193 |
| U.S. Treasury 4.375% 12/31/2029  | 46 | 47 |
| U.S. Treasury 4.00% 5/31/2030  | 12048 | 12477 |
| U.S. Treasury 3.875% 6/30/2030  | 107736 | 108153 |
| U.S. Treasury 1.375% 11/15/2031  | 4248 | 3635 |
| U.S. Treasury 2.875% 5/15/2032  | 367 | 342 |
| U.S. Treasury 4.00% 6/30/2032  | 130 | 130 |
| U.S. Treasury 2.75% 8/15/2032  | 3174 | 2928 |
| U.S. Treasury 4.125% 11/15/2032  | 17130 | 17246 |
| U.S. Treasury 4.00% 2/15/2034  | 29260 | 28956 |
| U.S. Treasury 4.375% 5/15/2034  | 2621 | 2663 |
| U.S. Treasury 3.875% 8/15/2034  | 2573 | 2512 |
| U.S. Treasury 4.25% 11/15/2034  | 35601 | 35717 |
| U.S. Treasury 4.25% 5/15/2035 <sup>(n)</sup>  | 216685 | 216973 |
| U.S. Treasury 4.375% 11/15/2039  | 40700 | 39911 |
| U.S. Treasury 1.125% 8/15/2040  | 45000 | 27693 |
| U.S. Treasury 1.875% 2/15/2041 <sup>(n)</sup>  | 176283 | 121264 |
| U.S. Treasury 2.25% 5/15/2041 <sup>(n)</sup>  | 98018 | 71224 |
| U.S. Treasury 2.75% 11/15/2042  | 25041 | 19073 |
| U.S. Treasury 3.875% 2/15/2043  | 1690 | 1513 |
| U.S. Treasury 4.375% 8/15/2043  | 1867 | 1779 |

---

---

| | |
|:---|:---|
| **25** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** | **U.S. Treasury bonds & notes (continued)** |
| **U.S. Treasury (continued)** | **U.S. Treasury (continued)** | **U.S. Treasury (continued)** |
| U.S. Treasury 4.75% 11/15/2043  | USD20,623 | $20608 |
| U.S. Treasury 4.50% 2/15/2044  | 1315 | 1271 |
| U.S. Treasury 4.125% 8/15/2044  | 94 | 86 |
| U.S. Treasury 4.75% 2/15/2045 <sup>(n)</sup>  | 245000 | 243660 |
| U.S. Treasury 5.00% 5/15/2045  | 767 | 788 |
| U.S. Treasury 1.375% 8/15/2050 <sup>(n)</sup>  | 29660 | 14624 |
| U.S. Treasury 1.625% 11/15/2050 <sup>(n)</sup>  | 66000 | 34773 |
| U.S. Treasury 2.375% 5/15/2051  | 77828 | 49384 |
| U.S. Treasury 3.625% 2/15/2053  | 15719 | 12828 |
| U.S. Treasury 4.75% 11/15/2053  | 13637 | 13505 |
| U.S. Treasury 4.25% 2/15/2054 <sup>(n)</sup>  | 217958 | 198902 |
| U.S. Treasury 4.625% 5/15/2054  | 15499 | 15051 |
| U.S. Treasury 4.25% 8/15/2054 <sup>(n)</sup>  | 291661 | 266323 |
| U.S. Treasury 4.625% 2/15/2055  | 1922 | 1871 |
|  |  | 1748879 |
| **U.S. Treasury inflation-protected securities 5.60%** | **U.S. Treasury inflation-protected securities 5.60%** | **U.S. Treasury inflation-protected securities 5.60%** |
| U.S. Treasury Inflation-Protected Security 0.375% 7/15/2025 <sup>(o)</sup>  | 52481 | 52464 |
| U.S. Treasury Inflation-Protected Security 1.875% 7/15/2034 <sup>(n)(o)</sup>  | 391518 | 392003 |
| U.S. Treasury Inflation-Protected Security 0.25% 2/15/2050 <sup>(o)</sup>  | 4070 | 2365 |
| U.S. Treasury Inflation-Protected Security 0.125% 2/15/2051 <sup>(n)(o)</sup>  | 412791 | 224979 |
| U.S. Treasury Inflation-Protected Security 2.125% 2/15/2054 <sup>(o)</sup>  | 64465 | 59022 |
| U.S. Treasury Inflation-Protected Security 2.375% 2/15/2055 <sup>(n)(o)</sup>  | 398476 | 385376 |
|  |  | 1116209 |
| **Total U.S. Treasury bonds & notes** |  | 2865088 |
| **Bonds & notes of governments & government agencies outside the U.S. 6.26%** | **Bonds & notes of governments & government agencies outside the U.S. 6.26%** | **Bonds & notes of governments & government agencies outside the U.S. 6.26%** |
| Angola (Republic of) 9.50% 11/12/2025  | 5570 | 5597 |
| Angola (Republic of) 8.00% 11/26/2029  | 6000 | 5457 |
| Argentine Republic 1.00% 7/9/2029  | 145 | 121 |
| Argentine Republic 4.125% 7/9/2035 (4.75% on 7/9/2027) <sup>(f)</sup>  | 16951 | 11445 |
| Brazil (Federative Republic of) 6.00% 8/15/2040 <sup>(o)</sup>  | BRL60,202 | 10052 |
| Brazil (Federative Republic of) 6.00% 8/15/2050 <sup>(o)</sup>  | 1108747 | 181536 |
| Brazil (Federative Republic of) 6.00% 5/15/2055 <sup>(o)</sup>  | 9906 | 1607 |
| Brazil (Federative Republic of) 6.00% 8/15/2060 <sup>(o)</sup>  | 60202 | 9714 |
| Colombia (Republic of) 8.00% 4/20/2033  | USD13,802 | 14298 |
| Colombia (Republic of) 7.50% 2/2/2034  | 6591 | 6570 |
| Colombia (Republic of) 8.50% 4/25/2035  | 8220 | 8549 |
| Colombia (Republic of) 8.00% 11/14/2035  | 6345 | 6388 |
| Colombia (Republic of) 7.75% 11/7/2036  | 9645 | 9447 |
| Colombia (Republic of) 8.375% 11/7/2054  | 11090 | 10567 |
| Egypt (Arab Republic of) 5.80% 9/30/2027  | 2110 | 2070 |
| Egypt (Arab Republic of) 7.60% 3/1/2029  | 695 | 701 |
| Egypt (Arab Republic of) 5.875% 2/16/2031  | 3325 | 2946 |
| Egypt (Arab Republic of) 9.45% 2/4/2033 <sup>(e)</sup>  | 15000 | 15199 |
| Egypt (Arab Republic of) 8.50% 1/31/2047  | 1170 | 951 |
| Egypt (Arab Republic of) 7.903% 2/21/2048  | 605 | 465 |
| Egypt (Arab Republic of) 8.70% 3/1/2049  | 1840 | 1511 |
| Egypt (Arab Republic of) 8.15% 11/20/2059  | 14000 | 10809 |
| Egypt (Arab Republic of) 7.50% 2/16/2061  | 920 | 671 |
| European Investment Bank 0.625% 10/21/2027  | 15310 | 14277 |
| Gabonese Republic 7.00% 11/24/2031 <sup>(e)</sup>  | 10000 | 7975 |
| India (Republic of) 7.88% 3/19/2030  | INR333,000 | 4171 |
| India (Republic of) 7.61% 5/9/2030  | 367000 | 4553 |
| Inter-American Development Bank 0.625% 7/15/2025  | USD13,000 | 12981 |
| Japan 2.30% 12/20/2054  | JPY3,600,750 | 22472 |
| Japan, Series 192, 2.40% 3/20/2045  | 41844300 | 292696 |
| Japan, Series 86, 2.40% 3/20/2055  | 38874450 | 247967 |
| Japan Bank for International Cooperation 1.25% 1/21/2031  | USD11,352 | 9778 |
| Mozambique (Republic of) 9.00% 9/15/2031  | 30000 | 24819 |
| OMERS Finance Trust 3.50% 4/19/2032 <sup>(e)</sup>  | 20000 | 18971 |
| OMERS Finance Trust 4.00% 4/19/2052 <sup>(e)</sup>  | 20000 | 15527 |
| Panama (Republic of) 7.50% 3/1/2031  | 2835 | 3024 |
| Panama (Republic of) 2.252% 9/29/2032  | 8527 | 6529 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **26** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** | **Bonds & notes of governments & government agencies outside the U.S. (continued)** |
| Panama (Republic of) 6.40% 2/14/2035  | USD8,595 | $8389 |
| Panama (Republic of) 6.875% 1/31/2036  | 8206 | 8179 |
| Panama (Republic of) 8.00% 3/1/2038  | 16669 | 17904 |
| Peru (Republic of) 5.50% 3/30/2036  | 9655 | 9673 |
| Peru (Republic of) 5.875% 8/8/2054  | 6375 | 6164 |
| Peru (Republic of) 2.78% 12/1/2060  | 17695 | 9551 |
| Romania 3.50% 4/3/2034  | EUR995 | 981 |
| Romania 5.625% 5/30/2037  | 75000 | 83396 |
| Saskatchewan (Province of) 3.25% 6/8/2027  | USD8,047 | 7923 |
| Senegal (Republic of) 6.75% 3/13/2048  | 11000 | 6665 |
| Spain (Kingdom of) 1.25% 10/31/2030  | EUR12,245 | 13495 |
| United Kingdom 0.125% 8/10/2041 <sup>(o)</sup>  | GBP3,404 | 3516 |
| United Mexican States 6.00% 5/7/2036  | USD12,140 | 12011 |
| United Mexican States 6.875% 5/13/2037  | 12095 | 12644 |
| United Mexican States 6.625% 1/29/2038  | 3790 | 3853 |
| United Mexican States 5.00% 4/27/2051  | 2270 | 1766 |
| United Mexican States 6.338% 5/4/2053  | 3730 | 3432 |
| United Mexican States 6.40% 5/7/2054  | 5000 | 4615 |
| United Mexican States 3.75% 4/19/2071  | 13080 | 7445 |
| United Mexican States, Series M, 7.50% 6/3/2027  | MXN30,000 | 1580 |
| United Mexican States, Series M, 8.00% 11/7/2047  | 496456 | 21980 |
|  |  | 1247573 |
| **Asset-backed obligations 5.14%** | **Asset-backed obligations 5.14%** | **Asset-backed obligations 5.14%** |
| ACHV ABS Trust, Series 2024-3AL, Class B, 5.45% 12/26/2031 <sup>(a)(e)</sup>  | USD328 | 330 |
| ACHV ABS Trust, Series 2024-3AL, Class C, 5.68% 12/26/2031 <sup>(a)(e)</sup>  | 255 | 256 |
| ACHV ABS Trust, Series 2025-1PL, Class B, 5.04% 4/26/2032 <sup>(a)(e)</sup>  | 606 | 605 |
| ACHV ABS Trust, Series 2025-1PL, Class C, 5.31% 4/26/2032 <sup>(a)(e)</sup>  | 1104 | 1101 |
| Affirm Asset Securitization Trust, Series 2024-B, Class A, 4.62% 9/15/2029 <sup>(a)(e)</sup>  | 904 | 904 |
| Affirm, Inc., Series 2024-A, Class A, 5.61% 2/15/2029 <sup>(a)(e)</sup>  | 849 | 853 |
| Affirm, Inc., Series 2024, Class 1A, 5.61% 2/15/2029 <sup>(a)(e)</sup>  | 834 | 838 |
| Affirm, Inc., Series 2024-X1, Class A, 6.27% 5/15/2029 <sup>(a)(e)</sup>  | 42 | 42 |
| Allegro CLO, Ltd., Series 2019-2, Class CR, (3-month USD CME Term SOFR + 2.53%) 6.799% 1/19/2033 <sup>(a)(d)(e)</sup>  | 1500 | 1503 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class B, 5.60% 11/12/2027 <sup>(a)(e)</sup>  | 82 | 82 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class B, 6.10% 12/13/2027 <sup>(a)(e)</sup>  | 648 | 651 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class A, 4.81% 3/13/2028 <sup>(a)(e)</sup>  | 5167 | 5166 |
| American Credit Acceptance Receivables Trust, Series 2022-3, Class D, 5.83% 10/13/2028 <sup>(a)(e)</sup>  | 274 | 274 |
| American Credit Acceptance Receivables Trust, Series 2025-1, Class B, 4.90% 3/12/2029 <sup>(a)(e)</sup>  | 220 | 221 |
| American Credit Acceptance Receivables Trust, Series 2023-1, Class E, 9.79% 12/12/2029 <sup>(a)(e)</sup>  | 685 | 718 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class C, 5.63% 1/14/2030 <sup>(a)(e)</sup>  | 878 | 881 |
| American Credit Acceptance Receivables Trust, Series 2022-4, Class E, 10.00% 1/14/2030 <sup>(a)(e)</sup>  | 1380 | 1429 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class D, 6.53% 4/12/2030 <sup>(a)(e)</sup>  | 2398 | 2457 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class D, 5.86% 5/13/2030 <sup>(a)(e)</sup>  | 592 | 598 |
| American Credit Acceptance Receivables Trust, Series 2024-4, Class C, 4.91% 8/12/2031 <sup>(a)(e)</sup>  | 102 | 102 |
| American Credit Acceptance Receivables Trust, Series 2025-1, Class D, 5.54% 8/12/2031 <sup>(a)(e)</sup>  | 1500 | 1512 |
| American Credit Acceptance Receivables Trust, Series 2023-4, Class E, 9.79% 8/12/2031 <sup>(a)(e)</sup>  | 1715 | 1846 |
| American Credit Acceptance Receivables Trust, Series 2023-3, Class E, 9.54% 10/14/2031 <sup>(a)(e)</sup>  | 1715 | 1809 |
| American Credit Acceptance Receivables Trust, Series 2024-2, Class E, 7.87% 11/12/2031 <sup>(a)(e)</sup>  | 827 | 854 |
| American Credit Acceptance Receivables Trust, Series 2024-1, Class E, 7.98% 11/12/2031 <sup>(a)(e)</sup>  | 1271 | 1319 |
| American Money Management Corp., Series 2016-18, Class BR, (3-month USD CME Term SOFR + 1.862%) <br> 6.191% 5/26/2031 <sup>(a)(d)(e)</sup>  | 1000 | 1001 |
| American Money Management Corp., CLO, Series 2022-25A, Class DR, (3-month USD CME Term SOFR + 3.25%) <br> 8.579% 4/15/2035 <sup>(a)(d)(e)</sup>  | 1143 | 1143 |
| Apidos CLO, Ltd., Series 2023-45, Class D, (3-month USD CME Term SOFR + 5.20%) 9.483% 4/26/2036 <sup>(a)(d)(e)</sup>  | 800 | 800 |
| Apollo Aviation Securitization Equity Trust, Series 2025-2A, Class A, 5.522% 2/16/2050 <sup>(a)(e)</sup>  | 763 | 772 |
| Apollo Aviation Securitization Equity Trust, Series 25-1A, Class A, 5.943% 2/16/2050 <sup>(a)(e)</sup>  | 244 | 249 |
| Avant Credit Card Master Trust, Series 2024-2A, Class A, 5.38% 5/15/2029 <sup>(a)(e)</sup>  | 2132 | 2127 |
| Avant Credit Card Master Trust, Series 2024-2A, Class D, 8.98% 5/15/2029 <sup>(a)(e)</sup>  | 7000 | 7005 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class A, 6.12% 4/20/2027 <sup>(a)(e)</sup>  | 5911 | 5959 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class D, 7.31% 6/20/2029 <sup>(a)(e)</sup>  | 1468 | 1491 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class A, 4.80% 8/20/2029 <sup>(a)(e)</sup>  | 1881 | 1904 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class B, 5.24% 8/20/2029 <sup>(a)(e)</sup>  | 368 | 372 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-1A, Class C, 5.87% 8/20/2029 <sup>(a)(e)</sup>  | 229 | 231 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6A, Class D, 7.37% 12/20/2029 <sup>(a)(e)</sup>  | 374 | 381 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-8A, Class D, 7.52% 2/20/2030 <sup>(a)(e)</sup>  | 3911 | 3989 |
| Avis Budget Rental Car Funding (AESOP), LLC, Series 2025-2A, Class C, 6.24% 8/20/2031 <sup>(a)(e)</sup>  | 286 | 294 |

---

---

| | |
|:---|:---|
| **27** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Babson CLO, Ltd., Series 2021-3, Class A, (3-month USD CME Term SOFR + 1.412%) 5.681% 1/18/2035 <sup>(a)(d)(e)</sup>  | USD1,500 | $1503 |
| Bain Capital Credit CLO, Ltd., Series 2023-3, Class D, (3-month USD CME Term SOFR + 5.25%) <br>9.525% 7/24/2036 <sup>(a)(d)(e)</sup>  | 500 | 501 |
| Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 9/17/2031 <sup>(a)(e)</sup>  | 1303 | 1300 |
| Bankers Healthcare Group Securitization Trust, Series 2020-A, Class C, 5.17% 9/17/2031 <sup>(a)(e)</sup>  | 7500 | 7488 |
| Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 11/17/2033 <sup>(a)(e)</sup>  | 4000 | 3867 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class B, 1.67% 10/17/2034 <sup>(a)(e)</sup>  | 6024 | 5899 |
| Bankers Healthcare Group Securitization Trust, Series 2021-B, Class C, 2.24% 10/17/2034 <sup>(a)(e)</sup>  | 8400 | 7987 |
| Barings Middle Market CLO, Ltd., Series 2021-I, Class A1, ((3-month USD CME Term SOFR + 0.262%) + 1.55%) <br> 6.081% 7/20/2033 <sup>(a)(d)(e)</sup>  | 3500 | 3502 |
| Battalion CLO, Ltd., Series 2018-12A, Class DRR, (3-month USD CME Term SOFR + 2.60%) 6.924% <br>5/17/2031 <sup>(a)(d)(e)</sup>  | 2083 | 2077 |
| Battalion CLO, Ltd., Series 2017-11A, Class BR, (3-month USD CME Term SOFR + 1.982%) 6.257% <br>4/24/2034 <sup>(a)(d)(e)</sup>  | 332 | 333 |
| Birch Grove CLO, Ltd., Series 2023-6, Class A1, (3-month USD CME Term SOFR + 2.20%) 6.469% <br>7/20/2035 <sup>(a)(d)(e)</sup>  | 41465 | 41465 |
| Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% <br> 7/15/2046 <sup>(a)(e)</sup>  | 1289 | 1211 |
| Blue Owl Asset Leasing Trust, Series 2024-1A, Class C, 6.38% 1/15/2031 <sup>(a)(e)</sup>  | 100 | 102 |
| Bluemountain CLO, Ltd., Series 2014-2, Class CR2, (3-month USD CME Term SOFR + 2.462%) 6.731% <br>10/20/2030 <sup>(a)(d)(e)</sup>  | 700 | 703 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A1, 6.05% 7/15/2027 <sup>(a)(e)</sup>  | 605 | 610 |
| Brex Commercial Charge Card Master Trust, Series 2024-1, Class A2, 6.68% 7/15/2027 <sup>(a)(e)</sup>  | 2166 | 2174 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class B, 5.43% 8/15/2028 <sup>(a)</sup>  | 160 | 160 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-1, Class B, 4.92% 3/15/2029 <sup>(a)</sup>  | 1420 | 1425 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C, 5.65% 4/16/2029 <sup>(a)</sup>  | 295 | 297 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class D, 6.03% 11/15/2029 <sup>(a)</sup>  | 572 | 582 |
| Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class D, 5.83% 5/15/2030 <sup>(a)</sup>  | 8644 | 8828 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-2, Class C, 5.17% 3/17/2031 <sup>(a)</sup>  | 1391 | 1406 |
| Bridgecrest Lending Auto Securitization Trust, Series 2025-2, Class D, 5.62% 3/17/2031 <sup>(a)</sup>  | 1343 | 1360 |
| Business Jet Securities, LLC, Series 2024-2A, Class A, 5.364% 9/15/2039 <sup>(a)(e)</sup>  | 5427 | 5449 |
| CarMax Select Receivables Trust, Series 2024-A, Class C, 5.62% 1/15/2030 <sup>(a)</sup>  | 572 | 582 |
| CarMax Select Receivables Trust, Series 2024-A, Class D, 6.27% 12/16/2030 <sup>(a)</sup>  | 868 | 895 |
| Carvana Auto Receivables Trust, Series 2024-N3, Class C, 4.90% 12/10/2030 <sup>(a)(e)</sup>  | 500 | 502 |
| Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/2037 <sup>(a)(e)</sup>  | 6815 | 6284 |
| Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/2041 <sup>(a)(e)</sup>  | 866 | 836 |
| Castlelake Aircraft Securitization Trust, Series 2025-1A, Class A, 5.783% 2/15/2050 <sup>(a)(e)</sup>  | 28618 | 29058 |
| CCG Receivables Trust, Series 2025-1, Class D, 5.28% 10/14/2032 <sup>(a)(e)</sup>  | 301 | 304 |
| CF Hippolyta, LLC, Series 2020-1, Class A1, 1.69% 7/15/2060 <sup>(a)(e)</sup>  | 3854 | 3814 |
| CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/2060 <sup>(a)(e)</sup>  | 595 | 551 |
| CF Hippolyta, LLC, Series 2020-1, Class B1, 2.28% 7/15/2060 <sup>(a)(e)</sup>  | 325 | 322 |
| CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/2061 <sup>(a)(e)</sup>  | 4456 | 4289 |
| CF Hippolyta, LLC, Series 2022-1A, Class A1, 5.97% 8/15/2062 <sup>(a)(e)</sup>  | 15188 | 15239 |
| CF Hippolyta, LLC, Series 2022-1A, Class A2, 6.11% 8/15/2062 <sup>(a)(e)</sup>  | 2905 | 2925 |
| CFG Investments, Ltd., Series 2025-1, Class A, 6.47% 3/25/2036 <sup>(a)(e)</sup>  | 821 | 830 |
| CFG Investments, Ltd., Series 2025-1, Class B, 9.16% 3/25/2036 <sup>(a)(e)</sup>  | 159 | 162 |
| CFG Investments, Ltd., Series 2025-1, Class C, 12.72% 3/25/2036 <sup>(a)(e)</sup>  | 400 | 404 |
| Chase Auto Owner Trust, Series 2024-5A, Class A4, 4.15% 3/25/2030 <sup>(a)(e)</sup>  | 1735 | 1735 |
| CIFC Funding, Ltd., CLO, Series 2019-5A, Class A1R1, (3-month USD CME Term SOFR + 1.402%) 5.658% <br> 1/15/2035 <sup>(a)(d)(e)</sup>  | 500 | 501 |
| CLI Funding V, LLC, Series 2020-2A, Class B, 3.56% 9/15/2045 <sup>(a)(e)</sup>  | 550 | 520 |
| CLI Funding VI, LLC, Series 2020-1A, Class B, 3.62% 9/18/2045 <sup>(a)(e)</sup>  | 1031 | 975 |
| Cook Park CLO, Ltd., Series 2018-1A, Class B, (3-month USD CME Term SOFR + 1.662%) 5.941% 4/17/2030 <sup>(a)(d)(e)</sup>  | 500 | 500 |
| CPS Auto Receivables Trust, Series 2024-A, Class B, 5.65% 5/15/2028 <sup>(a)(e)</sup>  | 100 | 100 |
| CPS Auto Receivables Trust, Series 2023-A, Class C, 5.54% 4/16/2029 <sup>(a)(e)</sup>  | 261 | 261 |
| CPS Auto Receivables Trust, Series 2023-A, Class D, 6.44% 4/16/2029 <sup>(a)(e)</sup>  | 526 | 536 |
| CPS Auto Receivables Trust, Series 2023-C, Class C, 6.27% 10/15/2029 <sup>(a)(e)</sup>  | 689 | 695 |
| CPS Auto Receivables Trust, Series 2023-C, Class D, 6.77% 10/15/2029 <sup>(a)(e)</sup>  | 622 | 639 |
| CPS Auto Receivables Trust, Series 2022-C, Class C, 5.28% 4/15/2030 <sup>(a)(e)</sup>  | 90 | 90 |
| CPS Auto Receivables Trust, Series 2024-A, Class C, 5.74% 4/15/2030 <sup>(a)(e)</sup>  | 100 | 101 |
| CPS Auto Receivables Trust, Series 2024-A, Class D, 6.13% 4/15/2030 <sup>(a)(e)</sup>  | 100 | 102 |
| CPS Auto Receivables Trust, Series 2022-C, Class D, 6.45% 4/15/2030 <sup>(a)(e)</sup>  | 1013 | 1028 |
| CPS Auto Receivables Trust, Series 2022-D, Class E, 12.12% 6/17/2030 <sup>(a)(e)</sup>  | 4000 | 4439 |
| CPS Auto Receivables Trust, Series 2024-A, Class E, 8.42% 8/15/2031 <sup>(a)(e)</sup>  | 2700 | 2802 |
| CPS Auto Receivables Trust, Series 2024-C, Class E, 8.04% 3/15/2032 <sup>(a)(e)</sup>  | 3625 | 3743 |
| CPS Auto Trust, Series 2025-B, Class A, 4.74% 2/15/2029 <sup>(a)(e)</sup>  | 18446 | 18454 |
| CPS Auto Trust, Series 2025-B, Class B, 4.79% 11/15/2029 <sup>(a)(e)</sup>  | 643 | 644 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **28** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| CPS Auto Trust, Series 2025-B, Class C, 5.12% 7/15/2031 <sup>(a)(e)</sup>  | USD1,314 | $1324 |
| Credit Acceptance Auto Loan Trust, Series 2022-1A, Class D, 6.63% 12/15/2032 <sup>(a)(e)</sup>  | 3000 | 3012 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class B, 7.09% 10/17/2033 <sup>(a)(e)</sup>  | 212 | 218 |
| Credit Acceptance Auto Loan Trust, Series 2023-3, Class C, 7.62% 12/15/2033 <sup>(a)(e)</sup>  | 245 | 254 |
| Crockett Partners Equipment Co. II, LLC, Series 2024-1C, Class A, 6.05% 1/20/2031 <sup>(a)(e)</sup>  | 5473 | 5536 |
| Crossroads Asset Trust, Series 2024-A, Class A2, 5.90% 8/20/2030 <sup>(a)(e)</sup>  | 1104 | 1118 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A2, 5.60% 4/15/2026 <sup>(a)</sup>  | 1561 | 1563 |
| Daimler Trucks Retail Trust, Series 2024-1, Class A3, 5.49% 12/15/2027 <sup>(a)</sup>  | 16134 | 16309 |
| Diameter Capital CLO, Series 2023-5, Class A1, (3-month USD CME Term SOFR + 1.85%) <br>6.106% 10/15/2036 <sup>(a)(d)(e)</sup>  | 1667 | 1670 |
| Diameter Capital CLO, Series 2023-5, Class A2, (3-month USD CME Term SOFR + 2.40%) <br>6.656% 10/15/2036 <sup>(a)(d)(e)</sup>  | 1714 | 1718 |
| Drive Auto Receivables Trust, Series 2024-1, Class A3, 5.35% 2/15/2028 <sup>(a)</sup>  | 4272 | 4277 |
| Drive Auto Receivables Trust, Series 2024-1, Class B, 5.31% 1/16/2029 <sup>(a)</sup>  | 5477 | 5500 |
| Drive Auto Receivables Trust, Series 2024-2, Class B, 4.52% 7/16/2029 <sup>(a)</sup>  | 474 | 474 |
| Drive Auto Receivables Trust, Series 2024-1, Class C, 5.43% 11/17/2031 <sup>(a)</sup>  | 703 | 713 |
| Drive Auto Receivables Trust, Series 2024-2, Class C, 4.67% 5/17/2032 <sup>(a)</sup>  | 464 | 465 |
| Drive Auto Receivables Trust, Series 2024-2, Class D, 4.94% 5/17/2032 <sup>(a)</sup>  | 1065 | 1067 |
| Drive Auto Receivables Trust, Series 2025-1, Class C, 4.99% 9/15/2032 <sup>(a)</sup>  | 273 | 275 |
| Drive Auto Receivables Trust, Series 2025-1, Class D, 5.41% 9/15/2032 <sup>(a)</sup>  | 845 | 855 |
| DriveTime Auto Owner Trust, Series 2023-1, Class C, 5.55% 10/16/2028 <sup>(a)(e)</sup>  | 399 | 400 |
| DriveTime Auto Owner Trust, Series 2023-1, Class D, 6.44% 11/15/2028 <sup>(a)(e)</sup>  | 1125 | 1145 |
| DriveTime Auto Owner Trust, Series 2023-3, Class C, 6.40% 5/15/2029 <sup>(a)(e)</sup>  | 524 | 532 |
| DriveTime Auto Owner Trust, Series 2023-3, Class D, 7.12% 5/15/2029 <sup>(a)(e)</sup>  | 541 | 563 |
| Dryden Senior Loan Fund, CLO, Series 2022-98, Class D, (3-month USD CME Term SOFR + 3.10%) <br>7.369% 4/20/2035 <sup>(a)(d)(e)</sup>  | 300 | 299 |
| EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/2045 <sup>(a)(e)</sup>  | 2188 | 2011 |
| Elmwood CLO 15, Ltd., 7.202% 4/22/2035 (3-month CME Term SOFR + 2.9%) <sup>(a)(d)(e)</sup>  | 1400 | 1405 |
| EquipmentShare, Series 2025-1M, Class B, 5.31% 9/26/2033 <sup>(a)(e)</sup>  | 1187 | 1196 |
| EquipmentShare, Series 2025-1M, Class A, 5.48% 9/26/2033 <sup>(a)(e)</sup>  | 2249 | 2265 |
| Evergreen Credit Card Trust, Series 2025-CRT5, Class B, 5.24% 5/15/2029 <sup>(a)(e)</sup>  | 134 | 135 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class B, 6.11% 9/15/2027 <sup>(a)</sup>  | 33 | 33 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class B, 6.31% 10/15/2027 <sup>(a)</sup>  | 187 | 187 |
| Exeter Automobile Receivables Trust, Series 2022-6, Class C, 6.32% 5/15/2028 <sup>(a)</sup>  | 1183 | 1189 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class C, 6.21% 6/15/2028 <sup>(a)</sup>  | 125 | 126 |
| Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/2028 <sup>(a)</sup>  | 1165 | 1161 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class A3, 4.67% 8/15/2028 <sup>(a)</sup>  | 588 | 589 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class B, 5.29% 8/15/2028 <sup>(a)</sup>  | 327 | 328 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class C, 6.51% 8/15/2028 <sup>(a)</sup>  | 695 | 701 |
| Exeter Automobile Receivables Trust, Series 2022-4A, Class D, 5.98% 12/15/2028 <sup>(a)</sup>  | 316 | 318 |
| Exeter Automobile Receivables Trust, Series 2022-6, Class D, 8.03% 4/6/2029 <sup>(a)</sup>  | 430 | 445 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class D, 6.68% 4/16/2029 <sup>(a)</sup>  | 226 | 231 |
| Exeter Automobile Receivables Trust, Series 2024-2A, Class C, 5.74% 5/15/2029 <sup>(a)</sup>  | 1360 | 1376 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class D, 6.69% 6/15/2029 <sup>(a)</sup>  | 725 | 738 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class B, 4.91% 8/15/2029 <sup>(a)</sup>  | 1768 | 1780 |
| Exeter Automobile Receivables Trust, Series 2025-2A, Class B, 4.92% 9/17/2029 <sup>(a)</sup>  | 8879 | 8944 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class D, 6.95% 12/17/2029 <sup>(a)</sup>  | 991 | 1021 |
| Exeter Automobile Receivables Trust, Series 2024-2A, Class D, 5.92% 2/15/2030 <sup>(a)</sup>  | 1834 | 1870 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class C, 5.41% 5/15/2030 <sup>(a)</sup>  | 339 | 342 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class D, 5.84% 6/17/2030 <sup>(a)</sup>  | 1644 | 1677 |
| Exeter Automobile Receivables Trust, Series 2023-1A, Class E, 12.07% 9/16/2030 <sup>(a)(e)</sup>  | 6737 | 7635 |
| Exeter Automobile Receivables Trust, Series 2023-2A, Class E, 9.75% 11/15/2030 <sup>(a)(e)</sup>  | 3697 | 4000 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class D, 5.81% 12/16/2030 <sup>(a)</sup>  | 5589 | 5710 |
| Exeter Automobile Receivables Trust, Series 2023-3A, Class E, 9.98% 1/15/2031 <sup>(a)(e)</sup>  | 2028 | 2209 |
| Exeter Automobile Receivables Trust, Series 2023-4A, Class E, 9.57% 2/18/2031 <sup>(a)(e)</sup>  | 2408 | 2636 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class C, 5.09% 5/15/2031 <sup>(a)</sup>  | 2705 | 2735 |
| Exeter Automobile Receivables Trust, Series 2025-1A, Class D, 5.49% 5/15/2031 <sup>(a)</sup>  | 1411 | 1439 |
| Exeter Automobile Receivables Trust, Series 2023-5A, Class E, 9.58% 6/16/2031 <sup>(a)(e)</sup>  | 4052 | 4414 |
| Exeter Automobile Receivables Trust, Series 2024-1, Class E, 7.89% 8/15/2031 <sup>(a)(e)</sup>  | 4029 | 4207 |
| Exeter Automobile Receivables Trust, Series 2025-3A, Class C, 5.09% 10/15/2031 <sup>(a)</sup>  | 779 | 785 |
| Exeter Automobile Receivables Trust, Series 2025-3A, Class D, 5.57% 10/15/2031 <sup>(a)</sup>  | 944 | 961 |
| Exeter Automobile Receivables Trust, Series 2024-2A, Class E, 7.98% 10/15/2031 <sup>(a)(e)</sup>  | 1154 | 1220 |
| Exeter Automobile Receivables Trust, Series 2024-4A, Class E, 7.65% 2/17/2032 <sup>(a)(e)</sup>  | 10020 | 10387 |
| Exeter Automobile Receivables Trust, Series 2025-2A, Class E, 7.81% 10/15/2032 <sup>(a)(e)</sup>  | 1576 | 1633 |
| Flagship Credit Auto Trust, Series 2023-3, Class B, 5.64% 7/16/2029 <sup>(a)(e)</sup>  | 214 | 216 |
| Flagship Credit Auto Trust, Series 2023-3, Class C, 6.01% 7/16/2029 <sup>(a)(e)</sup>  | 99 | 101 |
| Flagship Credit Auto Trust, Series 2023-3, Class D, 6.58% 8/15/2029 <sup>(a)(e)</sup>  | 67 | 67 |

---

---

| | |
|:---|:---|
| **29** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Ford Credit Auto Owner Trust, Series 2024-C, Class A4, 4.11% 7/15/2030 <sup>(a)</sup>  | USD2,967 | $2970 |
| Ford Credit Floorplan Master Owner Trust, Series 2025-1, Class A1, 4.63% 4/15/2030 <sup>(a)</sup>  | 7790 | 7886 |
| Fortress Credit BSL, Ltd., Series 2019-2A, Class CR, (3-month USD CME Term SOFR + 2.00%) 6.269% <br>10/20/2032 <sup>(a)(d)(e)</sup>  | 1750 | 1755 |
| Fortress Credit BSL, Ltd., CLO, Series 2019-2A, Class DR, (3-month USD CME Term SOFR + 2.85%) 7.119% <br>10/20/2032 <sup>(a)(d)(e)</sup>  | 2120 | 2123 |
| Fortress Credit BSL, Ltd., CLO, Series 2023-1A, Class BR, (3-month USD CME Term SOFR + 1.85%) 6.164% <br>4/23/2036 <sup>(a)(d)(e)</sup>  | 1659 | 1659 |
| GCI Funding I, LLC, Series 2021-1, Class A, 2.38% 6/18/2046 <sup>(a)(e)</sup>  | 3267 | 3006 |
| GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/2046 <sup>(a)(e)</sup>  | 186 | 169 |
| Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/2039 <sup>(a)(e)</sup>  | 1098 | 1066 |
| Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 10/17/2040 <sup>(a)(e)</sup>  | 2167 | 2067 |
| Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 10/17/2040 <sup>(a)(e)</sup>  | 1117 | 1075 |
| GLS Auto Receivables Trust, Series 2023-3, Class B, 5.89% 1/18/2028 <sup>(a)(e)</sup>  | 886 | 889 |
| GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/2029 <sup>(a)(e)</sup>  | 122 | 123 |
| GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/2029 <sup>(a)(e)</sup>  | 110 | 113 |
| GLS Auto Receivables Trust, Series 2024-1, Class C, 5.64% 12/17/2029 <sup>(a)(e)</sup>  | 633 | 641 |
| GLS Auto Receivables Trust, Series 2024-1, Class D, 5.95% 12/17/2029 <sup>(a)(e)</sup>  | 610 | 623 |
| GLS Auto Receivables Trust, Series 2023-3, Class E, 9.27% 8/15/2030 <sup>(a)(e)</sup>  | 1900 | 2051 |
| GLS Auto Receivables Trust, Series 2023-4, Class E, 9.72% 8/15/2030 <sup>(a)(e)</sup>  | 1430 | 1569 |
| GLS Auto Receivables Trust, Series 2024-2, Class E, 7.98% 5/15/2031 <sup>(a)(e)</sup>  | 1170 | 1222 |
| GLS Auto Receivables Trust, Series 2024-4A, Class E, 7.51% 8/15/2031 <sup>(a)(e)</sup>  | 2010 | 2077 |
| GLS Auto Select Receivables Trust, Series 24-3A, Class B, 5.64% 8/15/2030 <sup>(a)(e)</sup>  | 850 | 875 |
| GLS Auto Select Receivables Trust, Series 24-3A, Class C, 5.92% 8/15/2030 <sup>(a)(e)</sup>  | 1000 | 1032 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class B, 4.50% 11/15/2030 <sup>(a)(e)</sup>  | 153 | 153 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class C, 4.75% 11/15/2030 <sup>(a)(e)</sup>  | 67 | 67 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class C, 5.26% 3/15/2031 <sup>(a)(e)</sup>  | 180 | 183 |
| GLS Auto Select Receivables Trust, Series 2024-4A, Class D, 5.28% 10/15/2031 <sup>(a)(e)</sup>  | 75 | 76 |
| GLS Auto Select Receivables Trust, Series 2025-1A, Class D, 5.74% 4/15/2032 <sup>(a)(e)</sup>  | 194 | 199 |
| GM Financial Revolving Receivables Trust, Series 2024-2, Class A, 4.52% 3/11/2037 <sup>(a)(e)</sup>  | 23821 | 23993 |
| Golub Capital Partners CLO, Ltd., Series 2021-57, Class A1, (3-month USD CME Term SOFR + 1.752%) <br>6.033% 10/25/2034 <sup>(a)(d)(e)</sup>  | 3420 | 3420 |
| Golub Capital Partners Static, Ltd., CLO, Series 2024-1, Class CR, (3-month USD CME Term SOFR + 1.65%) 5.952% <br> 7/20/2035 <sup>(a)(d)(e)</sup>  | 750 | 752 |
| Harbor Park CLO, Ltd., Series 2018-1, Class D, (3-month USD CME Term SOFR + 3.162%) <br>7.431% 1/20/2031 <sup>(a)(d)(e)</sup>  | 400 | 402 |
| Hertz Vehicle Financing III, LLC, Series 2023-1, Class 1D, 9.13% 6/25/2027 <sup>(a)(e)</sup>  | 4450 | 4503 |
| Hertz Vehicle Financing III, LLC, Series 2023-3, Class B, 6.53% 2/25/2028 <sup>(a)(e)</sup>  | 1000 | 1014 |
| Hertz Vehicle Financing III, LLC, Series 2022-2A, Class C, 2.95% 6/26/2028 <sup>(a)(e)</sup>  | 6036 | 5728 |
| Hertz Vehicle Financing III, LLC, Series 2022-2, Class D, 5.16% 6/26/2028 <sup>(a)(e)</sup>  | 14209 | 13585 |
| Hertz Vehicle Financing, LLC, Series 2023-1A, Class B, 6.22% 6/25/2027 <sup>(a)(e)</sup>  | 1250 | 1256 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class A, 1.68% 12/27/2027 <sup>(a)(e)</sup>  | 10573 | 10173 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class B, 2.12% 12/27/2027 <sup>(a)(e)</sup>  | 3950 | 3780 |
| Hertz Vehicle Financing, LLC, Series 2021-2A, Class C, 2.52% 12/27/2027 <sup>(a)(e)</sup>  | 2477 | 2377 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class A, 5.44% 1/25/2029 <sup>(a)(e)</sup>  | 1690 | 1718 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class B, 6.12% 1/25/2029 <sup>(a)(e)</sup>  | 941 | 956 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class C, 6.70% 1/25/2029 <sup>(a)(e)</sup>  | 569 | 576 |
| Hertz Vehicle Financing, LLC, Series 2024-1A, Class D, 9.22% 1/25/2029 <sup>(a)(e)</sup>  | 2895 | 2962 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class A, 4.91% 9/25/2029 <sup>(a)(e)</sup>  | 100 | 101 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class B, 5.45% 9/25/2029 <sup>(a)(e)</sup>  | 6035 | 6115 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class C, 6.03% 9/25/2029 <sup>(a)(e)</sup>  | 8358 | 8399 |
| Hertz Vehicle Financing, LLC, Series 2025-1A, Class D, 7.98% 9/25/2029 <sup>(a)(e)</sup>  | 3784 | 3781 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class A, 5.06% 12/26/2029 <sup>(a)(e)</sup>  | 1109 | 1115 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class B, 5.59% 12/26/2029 <sup>(a)(e)</sup>  | 446 | 449 |
| Hertz Vehicle Financing, LLC, Series 2025-3A, Class C, 6.13% 12/26/2029 <sup>(a)(e)</sup>  | 455 | 460 |
| Hertz Vehicle Financing, LLC, Series 2024-2A, Class D, 9.41% 1/27/2031 <sup>(a)(e)</sup>  | 2250 | 2311 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class C, 6.40% 9/25/2031 <sup>(a)(e)</sup>  | 9707 | 9670 |
| Hertz Vehicle Financing, LLC, Series 2025-2A, Class D, 8.34% 9/25/2031 <sup>(a)(e)</sup>  | 3525 | 3460 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class A, 5.41% 12/26/2031 <sup>(a)(e)</sup>  | 2217 | 2248 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class B, 5.90% 12/26/2031 <sup>(a)(e)</sup>  | 372 | 376 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class C, 6.48% 12/26/2031 <sup>(a)(e)</sup>  | 1232 | 1245 |
| Hertz Vehicle Financing, LLC, Series 2025-4A, Class D, 9.34% 12/26/2031 <sup>(a)(e)</sup>  | 750 | 758 |
| Horizon Aircraft Finance, Series 2024-1, Class A, 5.375% 9/15/2049 <sup>(a)(e)</sup>  | 8839 | 8859 |
| Huntington National Bank (The), Series 2024-2, Class B1, 5.442% 10/20/2032 <sup>(a)(e)</sup>  | 1340 | 1353 |
| Invitation Homes Trust, Series 2024-SFR1, Class D, 4.25% 9/17/2041 <sup>(a)(e)</sup>  | 435 | 415 |
| Invitation Homes Trust, Series 2024-SFR1, Class F, 4.50% 9/17/2041 <sup>(a)(e)</sup>  | 2038 | 1881 |
| Invitation Homes Trust, Series 2024-SFR1, Class E, 4.50% 9/17/2041 <sup>(a)(e)</sup>  | 1161 | 1101 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **30** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Jamestown CLO, Ltd., Series 2018-11, Class A2, (3-month USD CME Term SOFR + 1.962%) <br>6.203% 7/14/2031 <sup>(a)(d)(e)</sup>  | USD500 | $502 |
| Jamestown CLO, Ltd., Series 2021-16A, Class CR, (3-month USD CME Term SOFR + 1.95%) <br>6.232% 7/25/2034 <sup>(a)(d)(e)</sup>  | 740 | 742 |
| Jamestown CLO, Ltd., Series 2021-16A, Class DR, (3-month USD CME Term SOFR + 3.05%) <br>7.332% 7/25/2034 <sup>(a)(d)(e)</sup>  | 1000 | 998 |
| LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/2027 <sup>(a)(e)</sup>  | 207 | 209 |
| LAD Auto Receivables Trust, Series 2023-2, Class B, 5.45% 4/15/2028 <sup>(a)(e)</sup>  | 510 | 513 |
| LAD Auto Receivables Trust, Series 2023-3, Class B, 6.09% 6/15/2028 <sup>(a)(e)</sup>  | 586 | 595 |
| LAD Auto Receivables Trust, Series 2023-2, Class C, 5.58% 9/15/2028 <sup>(a)(e)</sup>  | 1127 | 1138 |
| LAD Auto Receivables Trust, Series 2023-3, Class C, 6.43% 12/15/2028 <sup>(a)(e)</sup>  | 493 | 506 |
| LAD Auto Receivables Trust, Series 2024-1, Class B, 5.33% 2/15/2029 <sup>(a)(e)</sup>  | 447 | 453 |
| LAD Auto Receivables Trust, Series 2024-1, Class C, 5.64% 6/15/2029 <sup>(a)(e)</sup>  | 541 | 551 |
| LAD Auto Receivables Trust, Series 2024-3A, Class B, 4.74% 1/15/2030 <sup>(a)(e)</sup>  | 446 | 449 |
| LAD Auto Receivables Trust, Series 2024-3A, Class C, 4.93% 3/15/2030 <sup>(a)(e)</sup>  | 161 | 162 |
| LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/2030 <sup>(a)(e)</sup>  | 656 | 666 |
| LAD Auto Receivables Trust, Series 2023-1, Class D, 7.30% 6/17/2030 <sup>(a)(e)</sup>  | 219 | 224 |
| LAD Auto Receivables Trust, Series 2023-3, Class D, 6.92% 12/16/2030 <sup>(a)(e)</sup>  | 334 | 347 |
| LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/2031 <sup>(a)(e)</sup>  | 1712 | 1753 |
| LAD Auto Receivables Trust, Series 2024-1, Class D, 6.15% 6/16/2031 <sup>(a)(e)</sup>  | 333 | 342 |
| LAD Auto Receivables Trust, Series 2024-2, Class D, 6.37% 10/15/2031 <sup>(a)(e)</sup>  | 149 | 154 |
| LAD Auto Receivables Trust, Series 2024-3A, Class D, 5.18% 2/17/2032 <sup>(a)(e)</sup>  | 97 | 97 |
| Lendbuzz Securitization Trust, Series 2025-1A, Class B, 5.47% 11/15/2030 <sup>(a)(e)</sup>  | 4299 | 4392 |
| Marble Point CLO XIX, Ltd., Series 2020-3, Class DR, (3-month USD CME Term SOFR + 4.00%) <br>8.269% 1/19/2034 <sup>(a)(d)(e)</sup>  | 1500 | 1501 |
| Marble Point CLO XXIII, Ltd., Series 2021-4, Class C1, (3-month USD CME Term SOFR + 2.862%) <br>7.134% 1/22/2035 <sup>(a)(d)(e)</sup>  | 435 | 436 |
| Marble Point CLO, Ltd., Series 2019-2, Class D1R, (3-month USD CME Term SOFR + 3.662%) 7.931% <br>11/16/2034 <sup>(a)(d)(e)</sup>  | 1000 | 1001 |
| Merchants Fleet Funding, LLC, Series 2024-1, Class A, 5.82% 4/20/2037 <sup>(a)(e)</sup>  | 743 | 748 |
| Mercury Financial Credit Card Master Trust, Series 2024-2A, Class A, 6.56% 7/20/2029 <sup>(a)(e)</sup>  | 1087 | 1097 |
| Mission Lane Credit Card Master Trust, Series 2023-B, Class D, 11.97% 11/15/2028 <sup>(a)(e)</sup>  | 5000 | 5008 |
| Mission Lane Credit Card Master Trust, Series 2023-B, Class E, 15.56% 11/15/2028 <sup>(a)(e)</sup>  | 5000 | 5008 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class A1, 6.20% 8/15/2029 <sup>(a)(e)</sup>  | 322 | 325 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class B, 6.59% 8/15/2029 <sup>(a)(e)</sup>  | 318 | 321 |
| Mission Lane Credit Card Master Trust, Series 2024-A, Class E, 13.69% 8/15/2029 <sup>(a)(e)</sup>  | 5000 | 5095 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class A, 5.40% 9/15/2031 <sup>(a)(e)</sup>  | 3169 | 3171 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class B, 5.89% 9/15/2031 <sup>(a)(e)</sup>  | 1326 | 1329 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class C, 6.13% 9/15/2031 <sup>(a)(e)</sup>  | 887 | 889 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class D, 6.47% 9/15/2031 <sup>(a)(e)</sup>  | 1187 | 1190 |
| Mission Lane Credit Card Master Trust, Series 2025-B, Class F, 12.39% 9/15/2031 <sup>(a)(e)</sup>  | 4000 | 4009 |
| Navient Education Loan Trust, Series 2025-A, Class B, 5.32% 7/15/2055 <sup>(a)(e)</sup>  | 601 | 605 |
| Navient Education Loan Trust, Series 2025-A, Class C, 5.53% 7/15/2055 <sup>(a)(e)</sup>  | 572 | 575 |
| Navient Education Loan Trust, Series 2025-A, Class D, 6.03% 7/15/2055 <sup>(a)(e)</sup>  | 429 | 432 |
| Navient Education Loan Trust, Series 2025-A, Class A, 5.02% 7/15/2055 <sup>(a)(e)</sup>  | 529 | 532 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/2046 <sup>(a)(e)</sup>  | 4877 | 4565 |
| Navigator Aircraft ABS, Ltd., Series 2021-1, Class B, 3.571% 11/15/2046 <sup>(a)(e)</sup>  | 3326 | 3104 |
| Nelnet Student Loan Trust, Series 2021-CA, Class C, 3.36% 4/20/2062 <sup>(a)(e)</sup>  | 5313 | 4596 |
| Nelnet Student Loan Trust, Series 2021-CA, Class D, 4.44% 4/20/2062 <sup>(a)(e)</sup>  | 11333 | 9997 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/2061 <sup>(a)(e)</sup>  | 45059 | 42459 |
| New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class B1, 2.41% 10/20/2061 <sup>(a)(e)</sup>  | 6036 | 5543 |
| Ocean Trails CLO, Series 2021-11A, Class DR, (3-month USD CME Term SOFR + 3.10%) 7.369% 7/20/2034 <sup>(a)(d)(e)</sup>  | 1000 | 998 |
| OCP CLO, Ltd., Series 2019-16A, Class AR, (3-month USD CME Term SOFR + 1.262%) 5.472% 4/10/2033 <sup>(a)(d)(e)</sup>  | 3043 | 3047 |
| OCP CLO, Ltd., Series 2023-28, Class D, (3-month USD CME Term SOFR + 5.35%) 9.611% 7/16/2036 <sup>(a)(d)(e)</sup>  | 500 | 500 |
| OnDeck Asset Securitization Trust, LLC, Series 2023-1A, Class B, 8.25% 8/19/2030 <sup>(a)(e)</sup>  | 1122 | 1130 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class A, 6.27% 6/17/2031 <sup>(a)(e)</sup>  | 10643 | 10775 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class B, 7.15% 6/17/2031 <sup>(a)(e)</sup>  | 652 | 663 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-1, Class C, 8.99% 6/17/2031 <sup>(a)(e)</sup>  | 474 | 486 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class A, 4.98% 10/17/2031 <sup>(a)(e)</sup>  | 427 | 425 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class B, 5.42% 10/17/2031 <sup>(a)(e)</sup>  | 100 | 100 |
| OnDeck Asset Securitization Trust, LLC, Series 2024-2A, Class C, 7.03% 10/17/2031 <sup>(a)(e)</sup>  | 283 | 282 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class A, 5.08% 4/19/2032 <sup>(a)(e)</sup>  | 296 | 296 |
| OnDeck Asset Securitization Trust, LLC, Series 2025-1A, Class B, 5.52% 4/19/2032 <sup>(a)(e)</sup>  | 146 | 146 |
| Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/2031 <sup>(a)(e)</sup>  | 1408 | 1374 |
| Oportun Funding, LLC, Series 2021-B, Class B, 1.96% 5/8/2031 <sup>(a)(e)</sup>  | 1070 | 1045 |
| Oportun Funding, LLC, Series 2022-A, Class B, 5.25% 6/9/2031 <sup>(a)(e)</sup>  | 1000 | 1000 |
| Orion CLO, Ltd., Series 2023-1, Class C, (3-month USD CME Term SOFR + 3.25%) 7.532% 10/25/2036 <sup>(a)(d)(e)</sup>  | 1400 | 1405 |

---

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| | |
|:---|:---|
| **31** | American Funds Strategic Bond Fund |

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------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Orion CLO, Ltd., Series 2023-1, Class D, (3-month USD CME Term SOFR + 5.15%) 9.432% 10/25/2036 <sup>(a)(d)(e)</sup>  | USD1,703 | $1714 |
| Palmer Square Loan Funding, CLO, Series 2022-1A, Class A1, (3-month USD CME Term SOFR + 1.05%) <br>5.306% 4/15/2030 <sup>(a)(d)(e)</sup>  | 247 | 247 |
| Palmer Square Loan Funding, Ltd., Series 2024-2A, Class C, (3-month USD CME Term SOFR + 2.50%) 6.756% <br> 1/15/2033 <sup>(a)(d)(e)</sup>  | 1608 | 1601 |
| Park Avenue Institutional Advisers CLO, Series 2017-AR, Class A2R, (3-month USD CME Term SOFR + 1.812%) <br> 6.119% 2/14/2034 <sup>(a)(d)(e)</sup>  | 1000 | 1001 |
| Parallel, Ltd., Series 2023-1A, Class BR, (3-month USD CME Term SOFR + 2.05%) 6.373% 7/20/2036 <sup>(a)(d)(e)</sup>  | 409 | 409 |
| PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/2027 <sup>(a)(e)</sup>  | 7728 | 7724 |
| PK ALIFT Loan Funding 4 LP, Series 2024-2, Class A, 5.052% 10/15/2039 <sup>(a)(e)</sup>  | 450 | 450 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class A1, 5.842% 9/15/2039 <sup>(a)(e)</sup>  | 388 | 393 |
| PK ALIFT Loan Funding 3, LP, Series 2024-1, Class AF, (1-month USD CME Term SOFR + 0%) 6.012% <br>9/15/2039 <sup>(a)(d)(e)</sup>  | 155 | 156 |
| Porsche Innovative Lease Owner Trust, Series 2024-1, Class A2A, 4.84% 1/20/2027 <sup>(a)(e)</sup>  | 7805 | 7813 |
| Post Road Equipment Finance, Series 2025-1A, Class A2, 4.90% 5/15/2031 <sup>(a)(e)</sup>  | 5724 | 5760 |
| PPM CLO 2, Ltd., Series 2019-2, Class CR2, (3-month USD CME Term SOFR + 2.80%) 7.061% 4/16/2037 <sup>(a)(d)(e)</sup>  | 1000 | 1004 |
| Prestige Auto Receivables Trust, Series 2024-1, Class B, 5.71% 5/15/2028 <sup>(a)(e)</sup>  | 235 | 236 |
| Prestige Auto Receivables Trust, Series 2024-1, Class D, 6.21% 2/15/2030 <sup>(a)(e)</sup>  | 421 | 430 |
| Prestige Auto Receivables Trust, Series 2023-1A, Class E, 9.88% 5/15/2030 <sup>(a)(e)</sup>  | 2000 | 2139 |
| Prestige Auto Receivables Trust, Series 2024-1, Class E, 7.94% 4/15/2031 <sup>(a)(e)</sup>  | 682 | 706 |
| Prodigy Finance Designated Activity Co., Series 2021-1A, Class A, (1-month USD CME Term SOFR + 1.364%) <br> 5.684% 7/25/2051 <sup>(a)(d)(e)</sup>  | 423 | 423 |
| RAD CLO, Ltd., Series 2019-4, Class DR, (3-month USD CME Term SOFR + 3.25%) 7.532% 4/25/2032 <sup>(a)(d)(e)</sup>  | 1000 | 1004 |
| RAD CLO, Ltd., Series 2023-20, Class D, (3-month USD CME Term SOFR + 5.00%) 9.269% 7/20/2036 <sup>(a)(d)(e)</sup>  | 870 | 870 |
| Reach Financial, LLC, Series 2024-2, Class B, 5.84% 7/15/2031 <sup>(a)(e)</sup>  | 1461 | 1479 |
| Reach Financial, LLC, Series 2024-2, Class A, 5.88% 7/15/2031 <sup>(a)(e)</sup>  | 336 | 337 |
| Regatta XXIII Funding, Ltd., Series 2021-4, Class A1, (3-month USD CME Term SOFR + 1.412%) <br>5.681% 1/20/2035 <sup>(a)(d)(e)</sup>  | 800 | 802 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class A, 5.38% 11/25/2030 <sup>(a)(e)</sup>  | 1232 | 1233 |
| Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class B, 6.58% 11/25/2030 <sup>(a)(e)</sup>  | 7757 | 7789 |
| Rockford Tower CLO, Ltd., Series 2021-1, Class D, (3-month USD CME Term SOFR + 3.262%) 7.531% <br>7/20/2034 <sup>(a)(d)(e)</sup>  | 1191 | 1194 |
| Romark CLO, Ltd., Series 2018-1, Class A1, (3-month USD CME Term SOFR + 1.292%) 5.561% 4/20/2031 <sup>(a)(d)(e)</sup>  | 149 | 149 |
| RRAM, CLO, Series 2021-14, Class A1, (3-month USD CME Term SOFR + 1.382%) 5.638% 4/15/2036 <sup>(a)(d)(e)</sup>  | 1500 | 1503 |
| Santander Drive Auto Receivables Trust, Series 2024-4, Class A2, 5.41% 7/15/2027 <sup>(a)</sup>  | 3277 | 3280 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/2028 <sup>(a)</sup>  | 2480 | 2488 |
| Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/16/2028 <sup>(a)</sup>  | 2260 | 2259 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class B, 5.23% 12/15/2028 <sup>(a)</sup>  | 531 | 534 |
| Santander Drive Auto Receivables Trust, Series 2024-1, Class C, 5.45% 3/15/2030 <sup>(a)</sup>  | 118 | 119 |
| Santander Drive Auto Receivables Trust, Series 2022-7, Class C, 6.69% 3/17/2031 <sup>(a)</sup>  | 5972 | 6109 |
| SCF Equipment Trust, LLC, Series 2025-1A, Class D, 5.88% 11/20/2035 <sup>(a)(e)</sup>  | 216 | 223 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class B, 5.038% 7/25/2031 <sup>(a)(e)</sup>  | 265 | 267 |
| Securitized Term Auto Receivables Trust, Series 2025-A, Class C, 5.185% 7/25/2031 <sup>(a)(e)</sup>  | 565 | 569 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class C, 5.126% 12/29/2032 <sup>(a)(e)</sup>  | 2103 | 2110 |
| Securitized Term Auto Receivables Trust, Series 2025-B, Class D, 5.463% 12/29/2032 <sup>(a)(e)</sup>  | 2542 | 2551 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class A2, 4.71% 5/22/2028 <sup>(a)(e)</sup>  | 11246 | 11253 |
| SFS Auto Receivables Securitization Trust, Series 2025-2A, Class A2, 4.52% 11/20/2028 <sup>(a)(e)</sup>  | 6049 | 6066 |
| SFS Auto Receivables Securitization Trust, Series 2025-2A, Class A3, 4.44% 12/20/2030 <sup>(a)(e)</sup>  | 6998 | 7063 |
| SFS Auto Receivables Securitization Trust, Series 2024-3A, Class B, 4.76% 11/20/2031 <sup>(a)(e)</sup>  | 2770 | 2793 |
| SLAM, LLC, Series 2024-1A, Class A, 5.335% 9/15/2049 <sup>(a)(e)</sup>  | 18235 | 18228 |
| SMB Private Education Loan Trust, Series 2023-C, Class B, 6.36% 11/15/2052 <sup>(a)(e)</sup>  | 455 | 483 |
| SMB Private Education Loan Trust, Series 2021-A, Class D1, 3.86% 1/15/2053 <sup>(a)(e)</sup>  | 1186 | 1077 |
| SMB Private Education Loan Trust, Series 2021-A, Class D2, 3.86% 1/15/2053 <sup>(a)(e)</sup>  | 1186 | 1077 |
| SMB Private Education Loan Trust, Series 2023-D, Class D, 8.87% 9/15/2053 <sup>(a)(e)</sup>  | 2106 | 2264 |
| SMB Private Education Loan Trust, Series 2025-A, Class A1A, 5.13% 4/15/2054 <sup>(a)(e)</sup>  | 2950 | 2987 |
| SMB Private Education Loan Trust, Series 2022-A, Class D, 4.75% 11/16/2054 <sup>(a)(e)</sup>  | 2168 | 2025 |
| SMB Private Education Loan Trust, Series 2022-B, Class D, 5.95% 2/16/2055 <sup>(a)(e)</sup>  | 2752 | 2741 |
| SMB Private Education Loan Trust, Series 2024-A, Class D, 8.22% 3/15/2056 <sup>(a)(e)</sup>  | 7896 | 8286 |
| SMB Private Education Loan Trust, Series 2023-B, Class D, 7.56% 10/16/2056 <sup>(a)(e)</sup>  | 5000 | 5133 |
| SMB Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/2058 <sup>(a)(e)</sup>  | 2967 | 3007 |
| SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/2046 <sup>(a)(e)</sup>  | 5481 | 5114 |
| SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/2046 <sup>(a)(e)</sup>  | 1553 | 1503 |
| Steele Creek CLO, Ltd., Series 2019-1A, Class DRR, (3-month USD CME Term SOFR + 3.00%) <br>7.256% 4/15/2032 <sup>(a)(d)(e)</sup>  | 1000 | 1003 |
| Steele Creek CLO, Ltd., Series 2019-2A, Class DR, (3-month USD CME Term SOFR + 2.80%) 7.056% <br>7/15/2032 <sup>(a)(d)(e)</sup>  | 2230 | 2201 |
| Stellar Jay Ireland Dac, Series 2021-1, Class B, 5.926% 10/15/2041 <sup>(a)(e)</sup>  | 7923 | 7813 |

---

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **32** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** | **Asset-backed obligations (continued)** |
| Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/2041 <sup>(a)(e)</sup>  | USD5,657 | $5549 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/2033 <sup>(a)(e)</sup>  | 512 | 490 |
| Stonepeak Infrastructure Partners, Series 2021-1A, Class B, 3.821% 2/28/2033 <sup>(a)(e)</sup>  | 3406 | 3247 |
| Subway Funding, LLC, Series 2024-3, Class A2I, 5.246% 7/30/2054 <sup>(a)(e)</sup>  | 11456 | 11416 |
| Subway Funding, LLC, Series 2024-3A, Class A2II, 5.566% 7/30/2054 <sup>(a)(e)</sup>  | 13182 | 13168 |
| Subway Funding, LLC, Series 2024-3, Class A23, 5.914% 7/30/2054 <sup>(a)(e)</sup>  | 13307 | 13213 |
| SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/2075 <sup>(a)(e)</sup>  | 1599 | 1545 |
| Sycamore Tree CLO, Ltd., Series 2024-5, Class C, (3-month USD CME Term SOFR + 2.75%) <br>7.019% 4/20/2036 <sup>(a)(d)(e)</sup>  | 667 | 667 |
| Synchrony Card Issuance Trust, Series 2023-A, Class A, 5.54% 7/15/2029 <sup>(a)</sup>  | 11791 | 11930 |
| TAL Advantage V, LLC, Series 2020-1, Class B, 3.29% 9/20/2045 <sup>(a)(e)</sup>  | 376 | 357 |
| Textainer Marine Containers, Ltd., Series 2020-1A, Class B, 4.94% 8/21/2045 <sup>(a)(e)</sup>  | 1032 | 1016 |
| Textainer Marine Containers, Ltd., Series 2020-2A, Class B, 3.34% 9/20/2045 <sup>(a)(e)</sup>  | 2232 | 2117 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class A, 6.43% 7/23/2050 <sup>(a)(e)</sup>  | 20016 | 20016 |
| Textainer Marine Containers, Ltd., Series 2025-1H, Class B, 8.06% 7/23/2050 <sup>(a)(e)</sup>  | 9898 | 9896 |
| The Huntington National Bank, Series 2025-1, Class B, 4.957% 3/21/2033 <sup>(a)(e)</sup>  | 973 | 977 |
| TICP CLO, Ltd., Series 2018-12, Class DR, (3-month USD CME Term SOFR + 3.562%) 7.818% 7/15/2034 <sup>(a)(d)(e)</sup>  | 1000 | 1003 |
| Trinitas CLO, Ltd., Series 2020-12, Class A1R, (3-month USD CME Term SOFR + 1.37%) 5.652% 4/25/2033 <sup>(a)(d)(e)</sup>  | 9968 | 9980 |
| Trinitas CLO, Ltd., Series 2020-12, Class CR, (3-month USD CME Term SOFR + 2.60%) 6.882% 4/25/2033 <sup>(a)(d)(e)</sup>  | 1500 | 1507 |
| Trinitas CLO, Ltd., Series 2023-22A, Class D, (3-month USD CME Term SOFR + 6.19%) 10.459% 7/20/2036 <sup>(a)(d)(e)</sup>  | 500 | 501 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class A, 2.11% 9/20/2045 <sup>(a)(e)</sup>  | 823 | 765 |
| Triton Container Finance VIII, LLC, Series 2020-1, Class B, 3.74% 9/20/2045 <sup>(a)(e)</sup>  | 2960 | 2809 |
| Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/2046 <sup>(a)(e)</sup>  | 434 | 394 |
| Trysail CLO, Ltd., Series 2021-1, Class C, (3-month USD CME Term SOFR + 2.662%) 6.931% 7/20/2032 <sup>(a)(d)(e)</sup>  | 1500 | 1505 |
| U.S. Bank National Association, Series 2025-SUP1, Class B, 5.582% 2/25/2032 <sup>(a)(e)</sup>  | 451 | 452 |
| United Auto Credit Securitization Trust, Series 2024-1, Class B, 6.57% 6/10/2027 <sup>(a)(e)</sup>  | 1051 | 1054 |
| United Auto Credit Securitization Trust, Series 2025-1, Class B, 5.05% 2/10/2028 <sup>(a)(e)</sup>  | 839 | 840 |
| United Auto Credit Securitization Trust, Series 2024-1, Class C, 7.06% 10/10/2029 <sup>(a)(e)</sup>  | 1560 | 1571 |
| United Auto Credit Securitization Trust, Series 2024-1, Class D, 8.30% 11/12/2029 <sup>(a)(e)</sup>  | 4000 | 4093 |
| United Auto Credit Securitization Trust, Series 2025-1, Class C, 5.15% 6/10/2030 <sup>(a)(e)</sup>  | 1046 | 1049 |
| Valley Stream Park CLO, Ltd., Series 2022-1A, Class ARR, (3-month USD CME Term SOFR + 1.19%) 5.459% <br> 1/20/2037 <sup>(a)(d)(e)</sup>  | 20000 | 19999 |
| Verdant Receivables, LLC, Series 2024-1, Class C, 6.25% 12/12/2031 <sup>(a)(e)</sup>  | 210 | 218 |
| Vibrant CLO, Ltd., Series 2021-12, Class BR, (3-month USD CME Term SOFR + 2.50%) 6.769% 4/20/2034 <sup>(a)(d)(e)</sup>  | 897 | 899 |
| Vibrant CLO, Ltd., Series 2021-12, Class C1R, (3-month USD CME Term SOFR + 3.75%) 8.019% 4/20/2034 <sup>(a)(d)(e)</sup>  | 3287 | 3296 |
| Voya CLO, Ltd., Series 2018-3, Class CR2, (3-month USD CME Term SOFR + 2.35%) 6.606% 10/15/2031 <sup>(a)(d)(e)</sup>  | 2000 | 2009 |
| VStrong Auto Receivables Trust, Series 2024-A, Class A3, 5.62% 12/15/2028 <sup>(a)(e)</sup>  | 72 | 72 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class B, 5.55% 11/15/2027 <sup>(a)(e)</sup>  | 496 | 499 |
| Westlake Automobile Receivables Trust, Series 2022-3, Class C, 6.44% 12/15/2027 <sup>(a)(e)</sup>  | 1603 | 1611 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class B, 5.41% 1/18/2028 <sup>(a)(e)</sup>  | 177 | 177 |
| Westlake Automobile Receivables Trust, Series 2025-P1, Class A2, 4.65% 2/15/2028 <sup>(a)(e)</sup>  | 2509 | 2515 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class C, 5.74% 8/15/2028 <sup>(a)(e)</sup>  | 412 | 415 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/2028 <sup>(a)(e)</sup>  | 483 | 490 |
| Westlake Automobile Receivables Trust, Series 2023-1, Class D, 6.79% 11/15/2028 <sup>(a)(e)</sup>  | 1207 | 1234 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class C, 5.65% 2/15/2029 <sup>(a)(e)</sup>  | 521 | 527 |
| Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/2029 <sup>(a)(e)</sup>  | 269 | 276 |
| Westlake Automobile Receivables Trust, Series 2024-1, Class D, 6.02% 10/15/2029 <sup>(a)(e)</sup>  | 2010 | 2052 |
| Westlake Flooring Master Trust, Series 2024-1, Class A, 5.43% 2/15/2028 <sup>(a)(e)</sup>  | 4470 | 4488 |
|  |  | 1022928 |
| **Municipals 1.69%** | **Municipals 1.69%** | **Municipals 1.69%** |
| **California 0.18%** | **California 0.18%** | **California 0.18%** |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 3.487% 6/1/2036  | 4470 | 3731 |
| Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, <br> 3.714% 6/1/2041  | 6710 | 5137 |
| Municipal Fin. Auth., Community Facs. Dist. No. 2022-27 (City of Chula Vista - Sunbow), Special Tax Bonds, <br>Series 2024-A-T, 7.25% 9/1/2039  | 2275 | 2252 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.316% 5/15/2027  | 5400 | 5155 |
| Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 5/15/2030  | 6450 | 5765 |
| Regents of the University of California, General Rev. Bonds, Series 2023-BR, 5.10% 5/15/2033  | 13795 | 14314 |
|  |  | 36354 |

---

---

| | |
|:---|:---|
| **33** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| **Florida 0.14%** | **Florida 0.14%** | **Florida 0.14%** |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 1.258% 7/1/2025  | USD15,075 | $15075 |
| Board of Administration Fin. Corp., Rev. Bonds, Series 2020-A, 2.154% 7/1/2030  | 14910 | 13353 |
|  |  | 28428 |
| **Illinois 0.14%** | **Illinois 0.14%** | **Illinois 0.14%** |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-C, 6.319% 11/1/2029  | 555 | 547 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2009-E, 6.138% 12/1/2039  | 2645 | 2455 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2010-D, 6.519% 12/1/2040  | 960 | 900 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Dedicated Rev.), Series 2017-A, 7.00% <br>12/1/2046 <sup>(e)</sup>  | 1780 | 1830 |
| City of Chicago, Board of Education, Unlimited Tax GO Bonds (Qualified School Construction Bonds), <br>Series 2009-G, 1.75% 12/15/2025  | 19120 | 18790 |
| City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax GO Bonds <br>(Dedicated Tax Rev.), Series 2016-A, 7.00% 12/1/2044  | 100 | 100 |
| Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, CAB, Series 2017-A, <br> Assured Guaranty insured, 0% 12/15/2056  | 13690 | 2601 |
|  |  | 27223 |
| **Massachusetts 0.16%** | **Massachusetts 0.16%** | **Massachusetts 0.16%** |
| Educational Fncg. Auth., Education Loan Rev. Bonds, Series 2024-A, 6.352% 7/1/2049  | 30470 | 31340 |
| **New Jersey 0.01%** | **New Jersey 0.01%** | **New Jersey 0.01%** |
| Econ. Dev. Auth., State Pension Funding Bonds, Series 1997-A, National insured, 7.425% 2/15/2029  | 987 | 1043 |
| **New York 0.28%** | **New York 0.28%** | **New York 0.28%** |
| New York City GO Bonds, Fiscal 2025, Series 2025-H, 6.291% 2/1/2045  | 17955 | 18830 |
| New York City GO Bonds, Fiscal 2025, Series 2025-H, 6.385% 2/1/2055  | 35910 | 37369 |
|  |  | 56199 |
| **Ohio 0.21%** | **Ohio 0.21%** | **Ohio 0.21%** |
| Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series <br> 2021, 4.425% 5/1/2031  | 47260 | 42150 |
| **Puerto Rico 0.25%** | **Puerto Rico 0.25%** | **Puerto Rico 0.25%** |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2017 <sup>(m)</sup>  | 60 | 33 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.25% 7/1/2018 <sup>(m)</sup>  | 145 | 79 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2018 <sup>(l)(m)</sup>  | 700 | 382 |
| Electric Power Auth., Power Rev. Bonds, Series 2003-NN, 5.50% 7/1/2020 <sup>(m)</sup>  | 90 | 49 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2021 <sup>(m)</sup>  | 1415 | 773 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-AAA, 5.25% 7/1/2021 <sup>(m)</sup>  | 2000 | 1093 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2023 <sup>(m)</sup>  | 140 | 76 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-DDD, 5.00% 7/1/2023 <sup>(m)</sup>  | 1595 | 871 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.00% 7/1/2024 <sup>(m)</sup>  | 550 | 300 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.625% 7/1/2025 <sup>(m)</sup>  | 65 | 36 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 4.75% 7/1/2026 <sup>(m)</sup>  | 80 | 44 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.00% 7/1/2026 <sup>(m)</sup>  | 45 | 25 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 5.25% 7/1/2026 <sup>(m)</sup>  | 155 | 85 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 5.25% 7/1/2026 <sup>(m)</sup>  | 2975 | 1633 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-ZZ, 4.75% 7/1/2027 <sup>(m)</sup>  | 485 | 266 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-CCC, 4.80% 7/1/2028 <sup>(m)</sup>  | 1680 | 922 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.00% 7/1/2028 <sup>(m)</sup>  | 425 | 233 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2032 <sup>(m)</sup>  | 1240 | 680 |
| Electric Power Auth., Power Rev. Bonds, Series 2008-WW, 5.25% 7/1/2033 <sup>(m)</sup>  | 4650 | 2552 |
| Electric Power Auth., Power Rev. Bonds, Series 2013-A, 6.75% 7/1/2036 <sup>(m)</sup>  | 490 | 269 |
| Electric Power Auth., Power Rev. Bonds, Series 2007-TT, 5.00% 7/1/2037 <sup>(m)</sup>  | 495 | 272 |
| Electric Power Auth., Power Rev. Bonds, Series 2010-XX, 5.25% 7/1/2040 <sup>(m)</sup>  | 2640 | 1449 |
| Electric Power Auth., Power Rev. Bonds, Series 2012-A, 5.00% 7/1/2042 <sup>(m)</sup>  | 825 | 453 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2007-UU, Assured Guaranty insured, 3.469% 7/1/2017 <sup>(m)</sup>  | 4630 | 2529 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 3.625% 7/1/2021 <sup>(m)</sup>  | 20 | 11 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2021 <sup>(m)</sup>  | 525 | 287 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **34** |

---

------

---

| | | |
|:---|:---|:---|
| Bonds, notes & other debt instruments (continued) | Principal amount<br> (000)<br>| Value<br> (000)<br>|
| **Municipals (continued)** | **Municipals (continued)** | **Municipals (continued)** |
| **Puerto Rico (continued)** | **Puerto Rico (continued)** | **Puerto Rico (continued)** |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2010-DDD, 5.00% 7/1/2022 <sup>(m)</sup>  | USD4,865 | $2658 |
| Electric Power Auth., Power Rev. Ref. Bonds, Series 2008-WW, 5.50% 7/1/2038 <sup>(m)</sup>  | 1795 | 985 |
| GO Restructured Bonds, Series 2022-A-1, 5.375% 7/1/2025  | 634 | 634 |
| GO Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027  | 1264 | 1301 |
| GO Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2029  | 1243 | 1312 |
| GO Restructured Bonds, Series 2022-A-1, 5.75% 7/1/2031  | 1207 | 1303 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033  | 1145 | 1118 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2035  | 1029 | 992 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037  | 883 | 842 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041  | 1201 | 1068 |
| GO Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2046  | 1249 | 1069 |
| GO Restructured Bonds, CAB, Series 2022-A-1, 0% 7/1/2033  | 1473 | 1020 |
| GO Taxable Bonds, Series 2022, 0% 11/1/2043 <sup>(d)</sup>  | 4724 | 2911 |
| Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, CAB, Series 2018-A-1, 0% 7/1/2046  | 50777 | 16177 |
|  |  | 48792 |
| **Texas 0.04%** | **Texas 0.04%** | **Texas 0.04%** |
| Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC <br> Project), Series 2023, AMT, 12.00% 6/1/2043 <sup>(e)(m)</sup>  | 11717 | 8788 |
| **Washington 0.12%** | **Washington 0.12%** | **Washington 0.12%** |
| Econ. Dev. Fin. Auth., Environmental Facs. Rev. Bonds (North Pacific Paper Co. Recycling Project), Series 2020-B, <br> 9.00% 12/1/2036 <sup>(e)</sup>  | 23800 | 24606 |
| **Wisconsin 0.16%** | **Wisconsin 0.16%** | **Wisconsin 0.16%** |
| Public Fin. Auth., Certs. of Part. (Legacy Hills Capital Recovery Fee Projects), Series 2021, 0% 12/17/2061  | 11375 | 11375 |
| Public Fin. Auth., Federal Lease Rev. Bonds (Fort Sam Acquisition Fncg.), Series 2022, 4.95% 3/1/2034  | 21630 | 21155 |
|  |  | 32530 |
| **Total municipals** |  | 337453 |
| **Supranational debt 0.33%** | **Supranational debt 0.33%** | **Supranational debt 0.33%** |
| **Financials 0.33%** | **Financials 0.33%** | **Financials 0.33%** |
| European Union 3.75% 10/12/2045  | EUR54,590 | 64531 |
| **Federal agency bonds & notes 0.27%** | **Federal agency bonds & notes 0.27%** | **Federal agency bonds & notes 0.27%** |
| Fannie Mae 0.875% 8/5/2030  | USD19,166 | 16578 |
| Korea Housing Finance Corp. 4.625% 2/24/2028 <sup>(e)</sup>  | 14900 | 15057 |
| Tennessee Valley Authority 4.375% 8/1/2034  | 23053 | 22892 |
|  |  | 54527 |
| **Total bonds, notes & other debt instruments** (cost: $19,514,841,000) |  | 19015411 |
| Convertible bonds & notes 0.04% |  |  |
| **Information technology 0.04%** | **Information technology 0.04%** | **Information technology 0.04%** |
| MicroStrategy, Inc., convertible notes, 0% 12/1/2029 <sup>(e)</sup>  | 9268 | 8791 |
| **Total convertible bonds & notes** (cost: $7,650,000) |  | 8791 |
| Common stocks 0.02% | Shares |  |
| **Consumer discretionary 0.01%** | **Consumer discretionary 0.01%** | **Consumer discretionary 0.01%** |
| Aimbridge Topco, LLC <sup>(g)(l)</sup>  | 37845 | 2849 |
| Party City Holdco, Inc. <sup>(g)(l)</sup>  | 130501 | — <br><sup>(b)</sup><br>|
| Party City Holdco, Inc. <sup>(e)(g)(l)</sup>  | 1303 | — <br><sup>(b)</sup><br>|
| NMG Parent, LLC <sup>(g)(l)</sup>  | 967 | — <br><sup>(b)</sup><br>|
|  |  | 2849 |

---

---

| | |
|:---|:---|
| **35** | American Funds Strategic Bond Fund |

---

------

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 0.01%** | **Energy 0.01%** | **Energy 0.01%** |
| New Fortress Energy, Inc., Class A <sup>(l)</sup>  | 327772 | $1088 |
| **Health care 0.00%** | **Health care 0.00%** | **Health care 0.00%** |
| Endo GUC Trust, Class A1 <sup>(e)(l)</sup>  | 314185 | 175 |
| Endo, Inc., 1L 7.50% Escrow <sup>(g)(l)</sup>  | 3000000 | — <br><sup>(b)</sup><br>|
| Endo, Inc., 1L 6.875% Escrow <sup>(g)(l)</sup>  | 625000 | — <br><sup>(b)</sup><br>|
| Endo, Inc., 1L 6.125% Escrow <sup>(g)(l)</sup>  | 2725000 | — <br><sup>(b)</sup><br>|
|  |  | 175 |
| **Total common stocks** (cost: $8,975,000) |  | 4112 |
| Short-term securities 10.29% |  |  |
| **Money market investments 10.29%** | **Money market investments 10.29%** | **Money market investments 10.29%** |
| Capital Group Central Cash Fund 4.35% <sup>(p)(q)</sup>  | 20498349 | 2049835 |
| **Total short-term securities** (cost: $2,049,726,000) | **Total short-term securities** (cost: $2,049,726,000) | 2049835 |
| Options purchased (equity style) 0.04% |  |  |
| Options purchased (equity style)\* |  | 7492 |
| **Total options purchased (equity style)** (cost: $21,465,000) |  | 7492 |
| **Total investment securities 105.84%** (cost: $21,602,657,000) |  | 21085641 |
| Other assets less liabilities (5.84)% |  | (1164064)<br>|
| **Net assets 100.00%** |  | $19921577 |

---

**\*Options purchased (equity style)**

------

**Options on futures** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise <br>price<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| **Call** |  |  |  |  |  |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | USD97.00 | USD6,059,000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $909 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9/12/2025 | 98.00 | 7985500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 599 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | 96.50 | 1153500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1846 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | 97.00 | 1153500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 836 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | 97.50 | 1153750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/11/2026 | 98.00 | 53750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $4737 |
| **Put** |  |  |  |  |  |
| 3 Month SOFR Futures Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12/12/2025 | USD95.69 | USD27,550,250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2755 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7492 |

---

**Futures contracts**

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of <br>contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and <br>unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month Euro EURIBOR Futures | Short | 6917 | 9/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(1,998,471)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4962)<br>|
| 3 Month SOFR Futures | Long | 50445 | 9/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12064552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20889)<br>|
| 3 Month SOFR Futures | Long | 11650 | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2795709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4470)<br>|
| 3 Month SOFR Futures | Short | 4040 | 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (972933)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (832)<br>|

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **36** |

---

------

**Futures contracts** (continued)

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Contracts | Type | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of<br> contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration<br> date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional<br> amount<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value and<br> unrealized<br> appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(depreciation)<br> at 6/30/2025<br> &nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| 3 Month SOFR Futures | Short | 2373 | 6/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD(573,080)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $390 |
| 2 Year U.S. Treasury Note Futures | Long | 67952 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14135609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45876 |
| 5 Year Euro-Bobl Futures | Short | 2829 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (392159)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 946 |
| 5 Year U.S. Treasury Note Futures | Long | 9516 | 10/3/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1037244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9876 |
| 10 Year Euro-Bund Futures | Long | 5526 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 847192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (746)<br>|
| 10 Year French Government Bond Futures | Short | 1977 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (288399)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1012 |
| 10 Year Italy Government Bond Futures | Short | 7844 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1118021)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3290)<br>|
| 10 Year Japanese Government Bond Futures | Short | 1519 | 9/22/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1466417)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4976)<br>|
| 10 Year U.S. Treasury Note Futures | Short | 2516 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282107)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| 10 Year Ultra U.S. Treasury Note Futures | Short | 17400 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1988222)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42565)<br>|
| 20 Year U.S. Treasury Bond Futures | Long | 5584 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 644778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22597 |
| 30 Year Euro-Buxl Futures | Short | 2074 | 9/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (290090)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2502 |
| 30 Year Ultra U.S. Treasury Bond Futures | Long | 243 | 9/30/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $691 |

---

**Forward currency contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Contract amount | Contract amount | Contract amount | Contract amount | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| Currency purchased <br>(000) | Currency purchased <br>(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Currency sold <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) | Counterparty | &nbsp;&nbsp; Settlement <br>date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000) |
| GBP | 242211 | USD | 326649 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5823 |
| USD | 332275 | GBP | 242211 | Morgan Stanley | 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (198)<br>|
| EUR | 28264 | USD | 32215 | Morgan Stanley | 7/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1083 |
| USD | 32665 | EUR | 28264 | Morgan Stanley | 7/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (633)<br>|
| USD | 2186 | JPY | 312008 | UBS AG | 7/10/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17 |
| INR | 26093560 | USD | 302106 | HSBC Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2155 |
| AUD | 376411 | USD | 246604 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1194 |
| CLP | 74789700 | USD | 79745 | Morgan Stanley | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 534 |
| USD | 8382 | INR | 720000 | Standard Chartered Bank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)<br>|
| USD | 28100 | PLN | 103432 | JPMorgan Chase | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (587)<br>|
| USD | 196333 | SEK | 1874238 | BNP Paribas | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1960)<br>|
| PHP | 11315918 | USD | 203257 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2390)<br>|
| USD | 233629 | BRL | 1326267 | Citibank | 7/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9611)<br>|
| USD | 192469 | THB | 6271592 | Citibank | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1009)<br>|
| USD | 406020 | CAD | 555362 | Bank of New York Mellon | 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2147)<br>|
| USD | 51022 | ZAR | 906875 | Goldman Sachs | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (137)<br>|
| USD | 6975 | EUR | 6064 | Bank of America | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (176)<br>|
| JPY | 1831000 | EUR | 11030 | JPMorgan Chase | 7/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (268)<br>|
| COP | 421905000 | USD | 99949 | Morgan Stanley | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3050 |
| KRW | 137353737 | USD | 100407 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1224 |
| USD | 180028 | JPY | 25964383 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (666)<br>|
| USD | 67780 | BRL | 379123 | Citibank | 7/18/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1679)<br>|
| USD | 3424 | SEK | 32500 | Morgan Stanley | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>|
| USD | 302669 | CNH | 2170666 | HSBC Bank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1099)<br>|
| USD | 220583 | THB | 7195964 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1494)<br>|
| USD | 204923 | EUR | 177096 | Morgan Stanley | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4002)<br>|
| USD | 281884 | PLN | 1031549 | Citibank | 7/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4155)<br>|
| EUR | 4951 | MXN | 110000 | Goldman Sachs | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 |
| USD | 51937 | JPY | 7537791 | UBS AG | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (587)<br>|
| USD | 124823 | MXN | 2378864 | Morgan Stanley | 7/28/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1548)<br>|
| USD | 2339 | SGD | 2972 | Bank of America | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 2339 | SGD | 2973 | Bank of America | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)<br>|
| USD | 8594 | EUR | 7380 | UBS AG | 8/6/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (122)<br>|
| GBP | 242211 | USD | 332345 | Morgan Stanley | 8/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 206 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(19221)<br>|

---

---

| | |
|:---|:---|
| **37** | American Funds Strategic Bond Fund |

---

------

**Swap contracts**

------

**Interest rate swaps**

**Centrally cleared interest rate swaps** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | Payment <br>frequency<br>| Rate | Payment <br>frequency<br>| Expiration <br>date | Notional <br>amount <br>(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 5.018% | Annual | SOFR | Annual | 10/2/2025 | USD288,880 | $412 | $— | $412 |
| (0.445)% | Annual | 6-month EURIBOR | Semi-annual | 12/3/2025 | EUR448,100 | (5631)<br>|  | (5631)<br>|
| (0.452)% | Annual | 6-month EURIBOR | Semi-annual | 12/3/2025 | 448100 | (5646)<br>|  | (5646)<br>|
| 4.2045% | Annual | SOFR | Annual | 1/10/2026 | USD19,369 | — <br><sup>(b)</sup><br>|  | — <br><sup>(b)</sup><br>|
| 4.2035% | Annual | SOFR | Annual | 1/10/2026 | 371166 | (11)<br>|  | (11)<br>|
| 4.184% | Annual | SOFR | Annual | 1/10/2026 | 371166 | (49)<br>|  | (49)<br>|
| 4.568% | Annual | SOFR | Annual | 3/1/2026 | 1293850 | 3935 |  | 3935 |
| 4.56% | Annual | SOFR | Annual | 3/1/2026 | 1316500 | 3935 |  | 3935 |
| 4.28066% | Annual | SOFR | Annual | 3/31/2026 | 1038500 | 1815 |  | 1815 |
| 4.26959% | Annual | SOFR | Annual | 3/31/2026 | 503400 | 839 |  | 839 |
| 4.659% | Annual | SOFR | Annual | 5/17/2026 | 2287900 | 13993 |  | 13993 |
| SOFR | Annual | 4.5265% | Annual | 6/18/2026 | 575078 | (3455)<br>|  | (3455)<br>|
| SOFR | Annual | 4.528% | Annual | 6/18/2026 | 574958 | (3462)<br>|  | (3462)<br>|
| SOFR | Annual | 4.5335% | Annual | 6/18/2026 | 1149965 | (6984)<br>|  | (6984)<br>|
| TONAR | Annual | (0.01246731)% | Annual | 10/1/2026 | JPY1,442,100 | 82 |  | 82 |
| 3.53% | Annual | SOFR | Annual | 1/23/2027 | USD719,100 | (888)<br>|  | (888)<br>|
| 3.5405% | Annual | SOFR | Annual | 1/23/2027 | 990100 | (1066)<br>|  | (1066)<br>|
| 3.535% | Annual | SOFR | Annual | 1/23/2027 | 1289500 | (1496)<br>|  | (1496)<br>|
| 3.481% | Annual | SOFR | Annual | 1/29/2027 | 537700 | (1036)<br>|  | (1036)<br>|
| 3.4615% | Annual | SOFR | Annual | 1/29/2027 | 1075400 | (2391)<br>|  | (2391)<br>|
| SOFR | Annual | 4.186% | Annual | 2/18/2027 | 2391850 | (22496)<br>|  | (22496)<br>|
| 3.7645% | Annual | SOFR | Annual | 2/20/2027 | 1124350 | 3197 |  | 3197 |
| 3.761% | Annual | SOFR | Annual | 2/20/2027 | 562850 | 1569 |  | 1569 |
| 2.578% | Semi-annual | Bank of Canada <br> Overnight Repo<br>| Semi-annual | 6/17/2027 | CAD1,808,700 | 2926 |  | 2926 |
| 2.602% | Semi-annual | Bank of Canada <br> Overnight Repo<br>| Semi-annual | 6/18/2027 | 125770 | 246 |  | 246 |
| 1.988% | Annual | 6-month EURIBOR | Semi-annual | 6/27/2027 | EUR1,211,700 | (166)<br>|  | (166)<br>|
| 3.6475% | Annual | SOFR | Annual | 2/27/2028 | USD1,407,200 | 12258 |  | 12258 |
| TONAR | Annual | 0.71306% | Annual | 4/9/2028 | JPY107,113,604 | 1589 |  | 1589 |
| TONAR | Annual | 0.715% | Annual | 4/9/2028 | 107113604 | 1575 |  | 1575 |
| TONAR | Annual | 0.73% | Annual | 4/19/2028 | 44375636 | 612 |  | 612 |
| TONAR | Annual | 0.73% | Annual | 4/21/2028 | 32899178 | 454 |  | 454 |
| U.S. EFFR | Annual | 2.438% | Annual | 1/11/2029 | USD44,000 | 1333 |  | 1333 |
| SOFR | Annual | 3.528% | Annual | 1/29/2030 | 192800 | (913)<br>|  | (913)<br>|
| SOFR | Annual | 3.529% | Annual | 1/29/2030 | 236000 | (1127)<br>|  | (1127)<br>|
| SOFR | Annual | 3.5485% | Annual | 1/29/2030 | 256250 | (1434)<br>|  | (1434)<br>|
| 3.18% | Annual | SOFR | Annual | 4/17/2030 | 166100 | (1769)<br>|  | (1769)<br>|
| 3.275% | Annual | SOFR | Annual | 4/18/2030 | 83050 | (538)<br>|  | (538)<br>|
| 3.353% | Annual | SOFR | Annual | 4/19/2030 | 83050 | (252)<br>|  | (252)<br>|
| 3.342% | Annual | SOFR | Annual | 4/19/2030 | 83050 | (293)<br>|  | (293)<br>|
| 3.344% | Annual | SOFR | Annual | 4/20/2030 | 83100 | (288)<br>|  | (288)<br>|
| 3.128% | Annual | SOFR | Annual | 4/28/2030 | 83100 | (1086)<br>|  | (1086)<br>|
| 3.285% | Annual | SOFR | Annual | 5/1/2030 | 83100 | (509)<br>|  | (509)<br>|
| 3.259% | Annual | SOFR | Annual | 5/1/2030 | 83150 | (605)<br>|  | (605)<br>|
| 3.186% | Annual | SOFR | Annual | 5/9/2030 | 83150 | (880)<br>|  | (880)<br>|
| 3.215% | Annual | SOFR | Annual | 5/10/2030 | 166300 | (1546)<br>|  | (1546)<br>|
| 3.945% | Annual | 6-month NOK-NIBOR | Semi-annual | 5/14/2030 | NOK1,386,000 | 1189 |  | 1189 |
| 3.95% | Annual | 6-month NOK-NIBOR | Semi-annual | 5/14/2030 | 693000 | 610 |  | 610 |
| 6-month EURIBOR | Semi-annual | 2.2862% | Annual | 5/14/2030 | EUR56,030 | (90)<br>|  | (90)<br>|
| 6-month EURIBOR | Semi-annual | 2.2892% | Annual | 5/14/2030 | 56030 | (99)<br>|  | (99)<br>|
| 6-month EURIBOR | Semi-annual | 2.2967% | Annual | 5/14/2030 | 56030 | (122)<br>|  | (122)<br>|
| 4.0315% | Annual | 6-month NOK-NIBOR | Semi-annual | 5/16/2030 | NOK1,386,100 | 1698 |  | 1698 |
| 4.045% | Annual | 6-month NOK-NIBOR | Semi-annual | 5/16/2030 | 693000 | 890 |  | 890 |
| 6-month EURIBOR | Semi-annual | 2.3102% | Annual | 5/16/2030 | EUR56,720 | (155)<br>|  | (155)<br>|
| 6-month EURIBOR | Semi-annual | 2.3207% | Annual | 5/16/2030 | 56720 | (187)<br>|  | (187)<br>|
| 6-month EURIBOR | Semi-annual | 2.3262% | Annual | 5/16/2030 | 56720 | (204)<br>|  | (204)<br>|
| 4.0485% | Annual | 6-month NOK-NIBOR | Semi-annual | 5/19/2030 | NOK1,386,000 | 1798 |  | 1798 |
| 6-month EURIBOR | Semi-annual | 2.3267% | Annual | 5/19/2030 | EUR56,500 | (201)<br>|  | (201)<br>|

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **38** |

---

------

**Swap contracts** (continued)

------

**Interest rate swaps** (continued)

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 6/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 6/30/2025<br> (000) |
| Rate | Payment<br> frequency<br>| Rate | Payment<br> frequency<br>| Expiration<br> date | Notional<br> amount<br> (000) | Value at<br> 6/30/2025<br> (000) | Upfront<br> premium<br> paid<br> (received)<br> (000) | Unrealized<br> appreciation<br> (depreciation)<br> at 6/30/2025<br> (000) |
| 6-month EURIBOR | Semi-annual | 2.3327% | Annual | 5/19/2030 | EUR56,500 | $(219)<br>| $— | $(219)<br>|
| 3.29% | Annual | SOFR | Annual | 5/19/2030 | USD199,300 | (1201)<br>|  | (1201)<br>|
| 2.2308% | Annual | 6-month EURIBOR | Semi-annual | 6/26/2030 | EUR190,140 | (307)<br>|  | (307)<br>|
| 6-month NOK-NIBOR | Semi-annual | 3.83% | Annual | 6/26/2030 | NOK2,330,510 | (1029)<br>|  | (1029)<br>|
| U.S. EFFR | Annual | 0.666% | Annual | 11/19/2030 | USD153,800 | 20576 |  | 20576 |
| Overnight MXN-F-TIIE | 28-day | 8.83% | 28-day | 1/27/2031 | MXN744,450 | (1967)<br>|  | (1967)<br>|
| SOFR | Annual | 3.10% | Annual | 6/20/2033 | USD90,300 | 3040 |  | 3040 |
| SOFR | Annual | 3.175% | Annual | 2/1/2038 | 10350 | 598 |  | 598 |
| 3.095% | Annual | SOFR | Annual | 9/27/2048 | 13750 | (1832)<br>|  | (1832)<br>|
| U.S. EFFR | Annual | 0.6193% | Annual | 4/6/2050 | 12600 | 6568 |  | 6568 |
| U.S. EFFR | Annual | 0.60602% | Annual | 4/6/2050 | 5800 | 3036 |  | 3036 |
| U.S. EFFR | Annual | 0.616917% | Annual | 4/6/2050 | 5200 | 2713 |  | 2713 |
| SOFR | Annual | 3.01413% | Annual | 1/12/2053 | 118924 | 18486 |  | 18486 |
| SOFR | Annual | 3.02% | Annual | 1/12/2053 | 118900 | 18365 |  | 18365 |
| SOFR | Annual | 2.974% | Annual | 4/17/2053 | 52200 | 8486 |  | 8486 |
| SOFR | Annual | 3.044% | Annual | 4/18/2053 | 52700 | 7944 |  | 7944 |
| SOFR | Annual | 3.0875% | Annual | 4/19/2053 | 52600 | 7542 |  | 7542 |
| SOFR | Annual | 3.1035% | Annual | 4/19/2053 | 52500 | 7385 |  | 7385 |
| SOFR | Annual | 3.0895% | Annual | 4/20/2053 | 52600 | 7524 |  | 7524 |
| SOFR | Annual | 2.9405% | Annual | 4/28/2053 | 52500 | 8835 |  | 8835 |
| SOFR | Annual | 3.0535% | Annual | 5/1/2053 | 105100 | 15676 |  | 15676 |
| SOFR | Annual | 3.085% | Annual | 5/9/2053 | 53100 | 7638 |  | 7638 |
| SOFR | Annual | 3.1135% | Annual | 5/10/2053 | 52800 | 7340 |  | 7340 |
| SOFR | Annual | 3.1605% | Annual | 5/19/2053 | 63500 | 8322 |  | 8322 |
| SOFR | Annual | 3.6815% | Annual | 2/20/2054 | 197000 | 8309 |  | 8309 |
| SOFR | Annual | 3.6765% | Annual | 2/20/2054 | 102692 | 4420 |  | 4420 |
| SOFR | Annual | 3.7205% | Annual | 2/21/2054 | 164416 | 5831 |  | 5831 |
| SOFR | Annual | 3.6745% | Annual | 2/28/2054 | 114450 | 4962 |  | 4962 |
|  |  |  |  |  |  | $166921 | $— | $166921 |

---

**Bilateral interest rate swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Receive | Receive | Pay | Pay | Counterparty | Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Rate | &nbsp;&nbsp; Payment <br>frequency<br>| Counterparty | Expiration <br>date | &nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000) | Value at <br>6/30/2025 <br>(000) | Upfront <br>premium <br>paid <br>(received) <br>(000) | Unrealized <br>appreciation <br>(depreciation) <br>at 6/30/2025 <br>(000) |
| 12% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/4/2027 | BRL1,114,636 | &nbsp;&nbsp; $(6692)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(6692)<br>|
| 12.03167% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/4/2027 | 1794083 | &nbsp;&nbsp; (10513)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (10513)<br>|
| 11.49% | At maturity | BZDIOVER | At maturity | Goldman Sachs | &nbsp;&nbsp; 1/4/2027 | 3611800 | &nbsp;&nbsp; (29802)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (29802)<br>|
| 12.4875% | At maturity | BZDIOVER | At maturity | BNP Paribas | &nbsp;&nbsp; 1/2/2029 | 138150 | &nbsp;&nbsp; (501)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (501)<br>|
| 12.515% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | 200823 | &nbsp;&nbsp; (689)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (689)<br>|
| 12.36% | At maturity | BZDIOVER | At maturity | Barclays Bank PLC | &nbsp;&nbsp; 1/2/2029 | 171042 | &nbsp;&nbsp; (779)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (779)<br>|
| 12.5% | At maturity | BZDIOVER | At maturity | Bank of America | &nbsp;&nbsp; 1/2/2029 | 276000 | &nbsp;&nbsp; (974)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (974)<br>|
| 12.30585% | At maturity | BZDIOVER | At maturity | BNP Paribas | &nbsp;&nbsp; 1/2/2029 | 1626930 | &nbsp;&nbsp; (8063)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (8063)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $(58013)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(58013)<br>|

---

---

| | |
|:---|:---|
| **39** | American Funds Strategic Bond Fund |

---

------

**Swap contracts** (continued)

------

**Credit default swaps** 

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Reference <br>index<br>| &nbsp;&nbsp;&nbsp;&nbsp; Financing <br>rate paid<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payment <br>frequency<br>| &nbsp;&nbsp;&nbsp;&nbsp; Expiration <br>date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>amount <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Value at <br>6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>premium <br>paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(received) <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(depreciation) <br>at 6/30/2025 <br>&nbsp;&nbsp;&nbsp;&nbsp;(000)<br>|
| CDX.NA.IG.44 | 1.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | USD1,339,537 | &nbsp;&nbsp;&nbsp;&nbsp; $(29614)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(25674)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(3940)<br>|
| CDX.NA.HY.44 | 5.00% | Quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/2030 | 3789637 | &nbsp;&nbsp;&nbsp;&nbsp; (284446)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (199070)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (85376)<br>|
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(314060)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(224744)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(89316)<br>|

---

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>1/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>6/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 10.29%** |  |  |  |  |  |  |  |
| **Money market investments 10.29%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 4.35% <sup>(p)</sup>  | $790455 | &nbsp;&nbsp; $4459995 | &nbsp;&nbsp; $3200383 | &nbsp;&nbsp; $(239)<br>| &nbsp;&nbsp; $7 | &nbsp;&nbsp; $2049835 | &nbsp;&nbsp; $32542 |

---

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

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Acquisition <br>date(s)<br>| Cost <br>(000)<br>| Value <br>(000)<br>| Percent <br>of net <br>assets<br>|
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% <br> on 6/22/2026) <sup>(f)(j)</sup> <br>| 6/23/2023-3/24/2025 | $10518 | $10876 | 0.05<br> %<br>|
| Wolfspeed, Inc. 2.00% PIK and 9.875% Cash 6/23/2030 (13.875% <br> on 6/23/2026) <sup>(f)(j)</sup> <br>| 10/22/2024-3/24/2025 | 1467 | 1530 | 0.01 |
| Modec Finance BV 7.84% 7/15/2026 <sup>(g)</sup> <br>| 7/28/2023 | 9000 | 9104 | 0.05 |
| Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + <br> 7.25%) 11.428% 9/13/2029 <sup>(d)(h)</sup> <br>| 9/13/2023 | 2833 | 2900 | 0.01 |
| Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + <br> 7.25%) 11.428% 9/13/2029 <sup>(d)(h)</sup> <br>| 9/13/2023-6/13/2025 | 60 | 60 | 0.00 <br><sup>(r)</sup><br>|
| **Total** |  | $23878 | $24470 | 0.12<br> %<br>|

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **40** |

---

------

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

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

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

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

<sup>(d)</sup> Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. 

<sup>(e)</sup> Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $4,234,731,000, which represented 21.26% of the net assets of the fund. 

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

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

<sup>(h)</sup> Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $52,848,000, which represented 0.27% of the net assets of the fund. 

<sup>(i)</sup> Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $24,470,000, which represented 0.12% of the net assets of the fund. 

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

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

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

<sup>(m)</sup> Scheduled interest and/or principal payment was not received.

<sup>(n)</sup> All or a portion of this security was pledged as collateral. The total value of pledged collateral was $605,767,000, which represented 3.04% of the net assets of the fund. 

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

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

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

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

---

| |
|:---|
| **Key to abbreviation(s)** |
| AMT = Alternative Minimum Tax |
| Assn. = Association |
| AUD = Australian dollars |
| Auth. = Authority |
| BRL = Brazilian reais |
| BZDIOVER = Overnight Brazilian Interbank Deposit Rate |
| CAB = Capital Appreciation Bonds |
| CAD = Canadian dollars |
| Certs. = Certificates |
| CLO = Collateralized Loan Obligations |
| CLP = Chilean pesos |
| CME = CME Group |
| CNH = Chinese yuan renminbi |
| COP = Colombian pesos |
| DAC = Designated Activity Company |
| Dev. = Development |
| Dist. = District |
| Econ. = Economic |
| EFFR = Effective Federal Funds Rate |
| EUR = Euros |
| EURIBOR = Euro Interbank Offered Rate |
| Facs. = Facilities |
| Fin. = Finance |
| Fncg. = Financing |
| F-TIIE = Funding Equilibrium Interbank Interest Rate |

---

---

| |
|:---|
| GBP = British pounds |
| GO = General Obligation |
| ICE = Intercontinental Exchange, Inc. |
| INR = Indian rupees |
| JPY = Japanese yen |
| KRW = South Korean won |
| LIBOR = London Interbank Offered Rate |
| MXN = Mexican pesos |
| NIBOR = Norwegian Interbank Offered Rate |
| NOK = Norwegian kroner |
| Part. = Participation |
| PHP = Philippine pesos |
| PIK = Payment In Kind |
| PLN = Polish zloty |
| Ref. = Refunding |
| Rev. = Revenue |
| SEK = Swedish kronor |
| SGD = Singapore dollars |
| SOFR = Secured Overnight Financing Rate |
| TBA = To be announced |
| THB = Thai baht |
| TONAR = Tokyo Overnight Average Rate |
| USD = U.S. dollars |
| UST = U.S. Treasury |
| ZAR = South African rand |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **41** | American Funds Strategic Bond Fund |

---

------

Financial statements

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

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Assets:** |  |  |
| Investment securities, at value: |  |  |
| Unaffiliated issuers (cost: $19,552,931) | $19035806 |  |
| Affiliated issuers (cost: $2,049,726) | 2049835 | $21085641 |
| Cash |  | 201483 |
| Cash collateral pledged for forward currency contracts |  | 6900 |
| Cash collateral pledged for swap contracts |  | 3102 |
| Cash denominated in currencies other than U.S. dollars (cost: $538) |  | 538 |
| Unrealized appreciation on open forward currency contracts |  | 15287 |
| Unrealized appreciation on unfunded commitments\* |  | 2 |
| Receivables for: |  |  |
| Sales of investments | 1067847 |  |
| Sales of fund's shares | 24756 |  |
| Dividends and interest | 180579 |  |
| Variation margin on futures contracts | 20068 |  |
| Variation margin on centrally cleared swap contracts | 18230 |  |
| Other | 565 | 1312045<br>|
|  |  | 22624998 |
| **Liabilities:** |  |  |
| Unrealized depreciation on open forward currency contracts |  | 34508 |
| Bilateral swaps, at value |  | 58013 |
| Payables for: |  |  |
| Purchases of investments | 2536963 |  |
| Repurchases of fund's shares | 16296 |  |
| Investment advisory services | 4365 |  |
| Services provided by related parties | 1908 |  |
| Trustees' deferred compensation | 104 |  |
| Variation margin on futures contracts | 12603 |  |
| Variation margin on centrally cleared swap contracts | 38543 |  |
| Other | 118 | 2610900<br>|
| Commitments and contingencies\* |  |  |
| **Net assets at June 30, 2025** |  | $19921577 |
| **Net assets consist of:** |  |  |
| Capital paid in on shares of beneficial interest |  | $21987233 |
| Total distributable earnings (accumulated loss) |  | (2065656) <br>|
| **Net assets at June 30, 2025** |  | $19921577 |

---

\*

Refer to Note 5 for further information on unfunded commitments.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **42** |

---

------

Financial statements (continued)

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

------

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

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

**unlimited shares authorized (2,141,542 total shares outstanding)** 

---

| | | | |
|:---|:---|:---|:---|
|  | Net assets | Shares <br>outstanding<br>| Net asset value <br>per share<br>|
| Class A | $2702211 | 290731 | $9.29 |
| Class C | 68849 | 7450 | 9.24 |
| Class T | 9 | 1 | 9.30 |
| Class F-1 | 64692 | 6963 | 9.29 |
| Class F-2 | 7246529 | 779129 | 9.30 |
| Class F-3 | 2094337 | 225272 | 9.30 |
| Class 529-A | 90552 | 9751 | 9.29 |
| Class 529-C | 4098 | 443 | 9.25 |
| Class 529-E | 2460 | 265 | 9.29 |
| Class 529-T | 12 | 1 | 9.31 |
| Class 529-F-1 | 10 | 1 | 9.29 |
| Class 529-F-2 | 28093 | 3022 | 9.30 |
| Class 529-F-3 | 10 | 1 | 9.30 |
| Class R-1 | 2424 | 261 | 9.29 |
| Class R-2 | 6381 | 689 | 9.26 |
| Class R-2E | 1858 | 200 | 9.28 |
| Class R-3 | 18909 | 2039 | 9.27 |
| Class R-4 | 17446 | 1879 | 9.29 |
| Class R-5E | 4366 | 469 | 9.30 |
| Class R-5 | 15787 | 1696 | 9.31 |
| Class R-6 | 7552544 | 811279 | 9.31 |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **43** | American Funds Strategic Bond Fund |

---

------

Financial statements (continued)

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

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
| **Investment income:** |  |  |
| Income: |  |  |
| Interest from unaffiliated issuers (net of non-U.S. taxes of $90) | $528428 |  |
| Dividends from affiliated issuers | 32542 | $560970 |
| Fees and expenses\*: |  |  |
| Investment advisory services | 26117 |  |
| Distribution services | 4626 |  |
| Transfer agent services | 5659 |  |
| Administrative services | 2894 |  |
| 529 plan services | 33 |  |
| Reports to shareholders | 303 |  |
| Registration statement and prospectus | 563 |  |
| Trustees' compensation | 40 |  |
| Auditing and legal | 22 |  |
| Custodian | 115 |  |
| Other | 29 | 40401<br>|
| Net investment income |  | 520569<br>|
| **Net realized gain (loss) and unrealized appreciation (depreciation):** |  |  |
| Net realized gain (loss) on: |  |  |
| Investments (net of non-U.S. taxes of $2,498): |  |  |
| Unaffiliated issuers | (101534)<br>|  |
| Affiliated issuers | (239)<br>|  |
| Options written | 5880 |  |
| Futures contracts | 111976 |  |
| Forward currency contracts | 35453 |  |
| Swap contracts | 51356 |  |
| Currency transactions | (7717)<br>| 95175 |
| Net unrealized appreciation (depreciation) on: |  |  |
| Investments (net of non-U.S. taxes of $57): |  |  |
| Unaffiliated issuers | 348635 |  |
| Affiliated issuers | 7 |  |
| Futures contracts | 92874 |  |
| Forward currency contracts | (1728)<br>|  |
| Swap contracts | 50010 |  |
| Currency translations | 1261 | 491059<br>|
| Net realized gain (loss) and unrealized appreciation (depreciation) |  | 586234<br>|
| **Net increase (decrease) in net assets resulting from operations** |  | $1106803 |

---

\*

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

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **44** |

---

------

Financial statements (continued)

**Statements of changes in net assets**

------

(dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br>**June 30,**<br>| **Year ended** <br>**December 31,**<br>|
|  | **2025\*** | **2024** |
| **Operations:** |  |  |
| Net investment income | $520569 | $1028010 |
| Net realized gain (loss) | 95175 | (898119)<br>|
| Net unrealized appreciation (depreciation) | 491059 | (155007)<br>|
| Net increase (decrease) in net assets resulting from operations | 1106803 | (25116)<br>|
| **Distributions paid to shareholders:** |  |  |
| Distributions | (378176)<br>| (260057)<br>|
| Return of capital |  | (373751)<br>|
| Total distributions paid and return of capital paid to shareholders | (378176)<br>| (633808)<br>|
| **Net capital share transactions** | 96227 | 1678332 |
| **Total increase (decrease) in net assets**  | 824854 | 1019408 |
| **Net assets:** |  |  |
| Beginning of period | 19096723 | 18077315 |
| End of period | $19921577 | $19096723 |

---

\*

Unaudited.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **45** | American Funds Strategic Bond Fund |

---

------

Notes to financial statementsunaudited

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

**1. Organization**

------

American Funds Strategic Bond Fund (the "fund") is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end, diversified management investment company. The fund seeks to provide maximum total return consistent with preservation of capital.

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

---

| | | | |
|:---|:---|:---|:---|
| **Share class** | **Initial sales charge** | &nbsp;&nbsp; **Contingent deferred sales** <br>**charge upon redemption**<br>| **Conversion feature** |
| Class A | Up to 3.75% | &nbsp;&nbsp; None (except 0.75% for certain <br> redemptions within 18 months of purchase <br> without an initial sales charge)<br>|  |
| Class 529-A | Up to 3.50% | &nbsp;&nbsp; None (except 1.00% for certain <br> redemptions within 18 months of purchase <br> without an initial sales charge)<br>|  |
| Classes C and 529-C |  | &nbsp;&nbsp; 1.00% for redemptions within one year of <br> purchase<br>| &nbsp;&nbsp; Class C converts to Class A <br> after eight years and Class 529-C <br> converts to Class 529-A after five years<br>|
| Class 529-E |  |  |  |
| Classes T and 529-T\* | Up to 2.50% |  |  |
| Classes F-1, F-2, F-3, 529-F-1, <br> 529-F-2 and 529-F-3<br>|  |  |  |
| Classes R-1, R-2, R-2E, R-3, R-4, <br> R-5E, R-5 and R-6<br>|  |  |  |

---

\*

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

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

**2. Significant accounting policies**

------

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

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **46** |

---

------

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

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

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

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on the ex-dividend date. The fund may deem a portion of the income dividends and/or capital gain distributions as a return of capital for tax purposes.

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

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

**3. Valuation**

------

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

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

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

---

| | |
|:---|:---|
| **47** | American Funds Strategic Bond Fund |

---

------

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

---

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

---

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund's investment adviser. The Capital Group Central 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. Exchange-traded options and futures are generally valued at the official closing price for options and official settlement price for futures on the exchange or market on which such instruments are traded, as of the close of business on the day such instruments are being valued. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, and terms of the contract.

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

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

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **48** |

---

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Bonds, notes & other debt instruments: |  |  |  |  |
| Mortgage-backed obligations | $— | $7089109 | $55116 | $7144225 |
| Corporate bonds, notes & loans |  | 6263721 | 15365 | 6279086 |
| U.S. Treasury bonds & notes |  | 2865088 |  | 2865088 |
| Bonds & notes of governments & government agencies <br> outside the U.S.<br>|  | 1247573 |  | 1247573 |
| Asset-backed obligations |  | 1022928 |  | 1022928 |
| Municipals |  | 337453 |  | 337453 |
| Supranational debt |  | 64531 |  | 64531 |
| Federal agency bonds & notes |  | 54527 |  | 54527 |
| Convertible bonds & notes  |  | 8791 |  | 8791 |
| Common stocks  | 1088 | 175 | 2849 | 4112 |
| Short-term securities  | 2049835 |  |  | 2049835 |
| Options purchased on futures (equity style) | 7492 |  |  | 7492 |
| Total | $2058415 | $18953896 | $73330 | $21085641 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Other investments\*** | **Other investments\*** | **Other investments\*** | **Other investments\*** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Unrealized appreciation on futures contracts | $83465 | $— | $— | $83465 |
| Unrealized appreciation on open forward currency contracts |  | 15287 |  | 15287 |
| Unrealized appreciation on centrally cleared interest rate swaps |  | 240551 |  | 240551 |
| Liabilities: |  |  |  |  |
| Unrealized depreciation on futures contracts | (82774)<br>|  |  | (82774)<br>|
| Unrealized depreciation on open forward currency contracts |  | (34508)<br>|  | (34508)<br>|
| Unrealized depreciation on centrally cleared interest rate swaps |  | (73630)<br>|  | (73630)<br>|
| Unrealized depreciation on bilateral interest rate swaps |  | (58013)<br>|  | (58013)<br>|
| Unrealized depreciation on centrally cleared credit default swaps |  | (89316)<br>|  | (89316)<br>|
| Total  | $691 | $371 | $— | $1062 |

---

\*

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

**4. Risk factors**

------

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

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

---

| | |
|:---|:---|
| **49** | American Funds Strategic Bond Fund |

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

**Issuer risks** — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

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

Rising interest rates will generally cause the prices of bonds and other debt securities to fall. Also, when interest rates rise, issuers of debt securities which may be prepaid at any time, such as mortgage- or other asset-backed securities, are less likely to refinance existing debt securities, causing the average life of such securities to extend. A general change in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.

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

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

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

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **50** |

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

**Investing in inflation-linked bonds** — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates — i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security's inflation measure.

Investing in inflation-linked bonds may also reduce the fund's distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to the fund.

**Investing in future delivery contracts** — The fund may enter into contracts, such as to-be-announced contracts and mortgage dollar rolls, that involve the fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase the fund's market exposure, and the market price of the securities that the fund contracts to repurchase could drop below their purchase price. While the fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the fund may be reduced by engaging in such transactions. In addition, these transactions increase the turnover rate of the fund.

**Investing in derivatives** — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may cause the fund to lose significantly more than its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund's use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund's returns and increase the fund's price volatility. The fund's counterparty to a derivative transaction (including, if applicable, the fund's clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses. Derivatives are also subject to operational risk (such as documentation issues, settlement issues and systems failures) and legal risk (such as insufficient documentation, insufficient capacity or authority of a counterparty, and issues with the legality or enforceability of a contract).

**Liquidity risk** — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or to try to limit losses, or may be forced to sell at a loss.

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| | |
|:---|:---|
| **51** | American Funds Strategic Bond Fund |

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

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

**Currency** — The prices of, and the income generated by, many debt securities held by the fund may also be affected by changes in relative currency values. If the U.S. dollar appreciates against foreign currencies, the value in U.S. dollars of the fund's securities denominated in such currencies would generally fall and vice versa.

**Portfolio turnover** — The fund may engage in frequent and active trading of its portfolio securities. Higher portfolio turnover may involve correspondingly greater transaction costs in the form of dealer spreads, brokerage commissions and other transaction costs on the sale of securities and on reinvestment in other securities. The sale of portfolio securities may also result in the realization of net capital gains, which are taxable when distributed to shareholders, unless the shareholder is exempt from taxation or his or her account is tax-favored. These costs and tax effects may adversely affect the fund's returns to shareholders. The fund's portfolio turnover rate may vary from year to year, as well as within a year.

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

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **52** |

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

**5. Certain investment techniques**

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

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

**Loan transactions** — The fund has entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder's portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan's interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.

**Unfunded Commitments** — The fund has participated in transactions that involve unfunded commitments, which may obligate the fund to purchase new or additional bonds if certain contingencies are met. As of June 30, 2025, the fund's maximum exposure of unfunded bond commitments was $3,122,000, which would represent 0.02% of the net assets of the fund should such commitments become due. Unrealized appreciation of $2,000 is disclosed as unrealized appreciation on unfunded commitments in the fund's statement of assets and liabilities and is included in net unrealized appreciation on investments in unaffiliated issuers in the fund's statement of operations.

**Option contracts** — The fund has entered into option contracts, which give the purchaser of the option, in return for a premium payment, the right to buy from (in the case of a call) or sell to (in the case of a put) the writer of the option the reference instrument underlying the option (or the cash value of the instrument underlying the option) at a specified exercise price. The writer of an option on a security has the obligation, upon exercise of the option, to cash settle or deliver the underlying currency or instrument upon payment of the exercise price (in the case of a call) or to cash settle or take delivery of the underlying currency or instrument and pay the exercise price (in the case of a put).

By purchasing a put option, the fund obtains the right (but not the obligation) to sell the currency or instrument underlying the option (or to deliver the cash value of the instrument underlying the option) at a specified exercise price. In return for this right, the fund pays the current market price, or the option premium, for the option. The fund may terminate its position in a put option by allowing the option to expire or by exercising the option. If the option is allowed to expire, the fund will lose the entire amount of the premium paid. If the option is exercised, the fund completes the sale of the underlying instrument (or cash settles) at the exercise price. The fund may also terminate a put option position by entering into opposing close-out transactions in advance of the option expiration date.

The features of call options are essentially the same as those of put options, except that the purchaser of a call option obtains the right (but not the obligation) to purchase, rather than sell, the underlying currency or instrument (or cash settle) at the specified exercise price. The buyer of a call option typically attempts to participate in potential price increases of the underlying currency or instrument with risk limited to the cost of the option if the price of the underlying currency or instrument falls. At the same time, the call option buyer can expect to suffer a loss if the price of the underlying currency or instrument does not rise sufficiently to offset the cost of the option.

The writer of a put or call option takes the opposite side of the transaction from the option purchaser. In return for receipt of the option premium, the writer assumes the obligation to pay or receive the exercise price for the option's underlying currency or instrument if the other party to the option chooses to exercise it. The writer may seek to terminate a position in a put option before exercise by entering into opposing close-out transactions in advance of the option expiration date. If the market for the relevant put option is not liquid, however, the writer must be prepared to pay the exercise price while the option is outstanding, regardless of price changes. Writing a call option obligates the writer to, upon exercise of the option, deliver the option's underlying currency or instrument in return for the exercise price or to make a net cash settlement payment, as applicable. The characteristics of writing call options are similar to those of writing put options, except that writing call options is generally a profitable strategy if prices remain the same or fall. The potential gain for the option seller in such a transaction would be capped at the premium received.

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| | |
|:---|:---|
| **53** | American Funds Strategic Bond Fund |

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Option contracts can be either equity style (premium is paid in full when the option is opened) or futures style (premium moves as part of variation margin over the life of the option, and is paid in full when the option is closed). For equity style options, premiums paid on options purchased, as well as the daily fluctuation in market value, are included in investment securities in the fund's statement of asset and liabilities, and premiums received on options written, as well as the daily fluctuation in market value, are included in options written at value in the fund's statement of assets and liabilities. The net realized gains or losses and net unrealized appreciation or depreciation from equity style options are recorded in investments for purchased options and in options written for written options in the fund's statement of operations and statements of changes in net assets.

Option contracts can take different forms. The fund has entered into the following types of option contracts:

**Options on futures** — The fund has entered into options on futures contracts to seek to manage the fund's interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. An option on a futures contract gives the holder of the option the right to buy or sell a position in a futures contract from or to the writer of the option, at a specified price on or before the specified expiration date. The average month-end notional amount of options on futures while held was $33,117,404,000.

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

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

On a daily basis, the fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in the statement of assets and liabilities. Futures contracts may involve a risk of loss in excess of the variation margin shown on the fund's statement of assets and liabilities. The fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in the fund's statement of operations. The average month-end notional amount of futures contracts while held was $49,113,392,000.

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

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

Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund's statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund's statement of operations. The average month-end notional amount of open forward currency contracts while held was $4,662,659,000.

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **54** |

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

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

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

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

**Interest rate swaps** — The fund has entered into interest rate swaps, which seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the fund's portfolio. An interest rate swap is an agreement between two parties to exchange or swap payments based on changes in an interest rate or rates. Typically, one interest rate is fixed and the other is variable based on a designated short-term interest rate such as the Secured Overnight Financing Rate (SOFR), prime rate or other benchmark, or on an inflation index such as the U.S. Consumer Price Index (which is a measure that examines the weighted average of prices of a basket of consumer goods and services and measures changes in the purchasing power of the U.S. dollar and the rate of inflation). In other types of interest rate swaps, known as basis swaps, the parties agree to swap variable interest rates based on different designated short-term interest rates. Interest rate swaps generally do not involve the delivery of securities or other principal amounts. Rather, cash payments are exchanged by the parties based on the application of the designated interest rates to a notional amount, which is the predetermined dollar principal of the trade upon which payment obligations are computed. Accordingly, the fund's current obligation or right under the swap agreement is generally equal to the net amount to be paid or received under the swap agreement based on the relative value of the position held by each party. The average month-end notional amount of interest rate swaps while held was $56,851,026,000.

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

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| | |
|:---|:---|
| **55** | American Funds Strategic Bond Fund |

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The fund may enter into a CDSI transaction as either protection buyer or protection seller. If the fund is a protection buyer, it would pay the counterparty a periodic stream of payments over the term of the contract and would not recover any of those payments if no credit events were to occur with respect to any of the underlying reference obligations. However, if a credit event did occur, the fund, as a protection buyer, would have the right to deliver the referenced debt obligations or a specified amount of cash, depending on the terms of the applicable agreement, and to receive the par value of such debt obligations from the counterparty protection seller. As a protection seller, the fund would receive fixed payments throughout the term of the contract if no credit events were to occur with respect to any of the underlying reference obligations. If a credit event were to occur, however, the value of any deliverable obligation received by the fund, coupled with the periodic payments previously received by the fund, may be less than the full notional value that the fund, as a protection seller, pays to the counterparty protection buyer, effectively resulting in a loss of value to the fund. Furthermore, as a protection seller, the fund would effectively add leverage to its portfolio because it would have investment exposure to the notional amount of the swap transaction. The average month-end notional amount of credit default swaps while held was $6,611,674,000.

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Assets** | **Assets** | **Liabilities** | **Liabilities** |
| <br>**Contracts** | <br>**Risk type** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** | &nbsp;&nbsp; **Location on statement of** <br>**assets and liabilities**<br>| **Value** |
| Options purchased <br> (equity style)<br>| Interest | Investment securities | $7492 | Investment securities | $— |
| Futures | Interest | Unrealized appreciation\* | 83465 | Unrealized depreciation\* | 82774 |
| Forward currency | Currency | &nbsp;&nbsp; Unrealized appreciation on open forward <br> currency contracts<br>| 15287 | &nbsp;&nbsp; Unrealized depreciation on open forward <br> currency contracts<br>| 34508 |
| Swap (centrally <br> cleared)<br>| Interest | Unrealized appreciation\* | 240551 | Unrealized depreciation\* | 73630 |
| Swap (bilateral) | Interest | Bilateral swaps, at value |  | Bilateral swaps, at value | 58013 |
| Swap (centrally <br> cleared)<br>| Credit | Unrealized appreciation\* |  | Unrealized depreciation\* | 89316 |
|  |  |  | $346795 |  | $338241 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Net realized gain (loss)** | **Net realized gain (loss)** | **Net unrealized appreciation (depreciation)** | **Net unrealized appreciation (depreciation)** |
| <br>**Contracts** | <br>**Risk type** | **Location on statement of operations** | **Value** | **Location on statement of operations** | **Value** |
| Options purchased <br> (equity style)<br>| Interest | Net realized gain (loss) on investments | $(10163)<br>| &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on investments<br>| $(11655)<br>|
| Options written <br> (equity style)<br>| Interest | Net realized gain (loss) on options written | 5880 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on options written<br>|  |
| Futures | Interest | Net realized gain (loss) on futures contracts | 111976 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on futures contracts<br>| 92874 |
| Forward currency | Currency | &nbsp;&nbsp; Net realized gain (loss) on forward <br> currency contracts<br>| 35453 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on forward currency contracts<br>| (1728)<br>|
| Swap | Interest | Net realized gain (loss) on swap contracts | 60255 | &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on swap contracts<br>| 104822 |
| Swap | Credit | Net realized gain (loss) on swap contracts | (8899)<br>| &nbsp;&nbsp; Net unrealized appreciation (depreciation) <br> on swap contracts<br>| (54812)<br>|
|  |  |  | $194502 |  | $129501 |

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\*

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

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| | |
|:---|:---|
| American Funds Strategic Bond Fund | **56** |

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**Collateral** — The fund receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to its use of option contracts, futures contracts, forward currency contracts, interest rate swaps, credit default swaps and future delivery contracts. For options on futures, futures contracts, centrally cleared interest rate swaps and centrally cleared credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts and bilateral interest rate swaps, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by counterparty. For future delivery contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by the fund, if any, is disclosed in the fund's investment portfolio, and cash collateral pledged by the fund, if any, is held in a segregated account with the fund's custodian, which is reflected as pledged cash collateral in the fund's statement of assets and liabilities.

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | **Gross amounts not offset in the** <br>**statement of assets and liabilities and** <br>**subject to a master netting agreement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| **Counterparty** | **Gross amounts** <br>**recognized in the** <br>**statement of assets** <br>**and liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Available** <br>**to offset**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Non-cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash** <br>**collateral\***<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net** <br>**amount** |
| Assets: |  |  |  |  |  |
| Citibank | &nbsp;&nbsp; $2418<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2418)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Goldman Sachs | &nbsp;&nbsp; 1<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | &nbsp;&nbsp; 2155<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1099)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1056)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Morgan Stanley | &nbsp;&nbsp; 10696<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6398)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4298)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| UBS AG | &nbsp;&nbsp; 17<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Total | &nbsp;&nbsp; $15287<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(9933)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4298)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1056)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Liabilities: |  |  |  |  |  |
| Bank of America | &nbsp;&nbsp; $1161<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1161)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $—<br>|
| Bank of New York Mellon | &nbsp;&nbsp; 2147<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (874)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1273<br>|
| Barclays Bank PLC | &nbsp;&nbsp; 18673<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18673)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| BNP Paribas | &nbsp;&nbsp; 10524<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10524)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Citibank | &nbsp;&nbsp; 21004<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2418)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14916)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3670<br>|
| Goldman Sachs | &nbsp;&nbsp; 29939<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27551)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2387)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| HSBC Bank | &nbsp;&nbsp; 1099<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1099)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| JPMorgan Chase | &nbsp;&nbsp; 854<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (681)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173<br>|
| Morgan Stanley | &nbsp;&nbsp; 6398<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6398)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| Standard Chartered Bank | &nbsp;&nbsp; 13<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13<br>|
| UBS AG | &nbsp;&nbsp; 709<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (290)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402<br>|
| Total | &nbsp;&nbsp; $92521<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(9933)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(74670)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(2387)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $5531<br>|

---

\*

Collateral is shown on a settlement basis.

---

| | |
|:---|:---|
| **57** | American Funds Strategic Bond Fund |

---

------

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

**6. Taxation and distributions**

------

**Federal income taxation** — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

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

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

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

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; paydowns on fixed-income securities; net capital losses; non-U.S. taxes on capital gains and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.

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

---

| | |
|:---|:---|
| Distributions in excess of ordinary income | $373751 |
| Capital loss carryforward<sup>1</sup> <br>| (1943343)<br>|

---

<sup>1</sup>

The capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years. The fund will not make distributions from capital gains while a capital loss carryforward remains.

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

---

| | |
|:---|:---|
| Gross unrealized appreciation on investments | $649659 |
| Gross unrealized depreciation on investments | (1172346)<br>|
| Net unrealized appreciation (depreciation) on investments | (522687)<br>|
| Cost of investments | 21834135 |

---

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **58** |

---

------

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| <br>**Share class** | **Ordinary** <br>**income**<sup>2</sup> <br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Return of** <br>**capital**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Class A | &nbsp;&nbsp; $47630 | $— | $47630 | &nbsp;&nbsp;&nbsp;&nbsp; $33060 | $47514 | $80574 |
| Class C | &nbsp;&nbsp; 1009 |  | 1009 | &nbsp;&nbsp;&nbsp;&nbsp; 792 | 1138 | 1930 |
| Class T | &nbsp;&nbsp; — <br><sup>3</sup><br>|  | — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| — <br><sup>3</sup><br>|
| Class F-1 | &nbsp;&nbsp; 1183 |  | 1183 | &nbsp;&nbsp;&nbsp;&nbsp; 1088 | 1564 | 2652 |
| Class F-2 | &nbsp;&nbsp; 136024 |  | 136024 | &nbsp;&nbsp;&nbsp;&nbsp; 91991 | 132208 | 224199 |
| Class F-3 | &nbsp;&nbsp; 41503 |  | 41503 | &nbsp;&nbsp;&nbsp;&nbsp; 34127 | 49048 | 83175 |
| Class 529-A | &nbsp;&nbsp; 1608 |  | 1608 | &nbsp;&nbsp;&nbsp;&nbsp; 1095 | 1574 | 2669 |
| Class 529-C | &nbsp;&nbsp; 59 |  | 59 | &nbsp;&nbsp;&nbsp;&nbsp; 48 | 68 | 116 |
| Class 529-E | &nbsp;&nbsp; 40 |  | 40 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | 42 | 71 |
| Class 529-T | &nbsp;&nbsp; — <br><sup>3</sup><br>|  | — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| — <br><sup>3</sup><br>|
| Class 529-F-1 | &nbsp;&nbsp; — <br><sup>3</sup><br>|  | — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| — <br><sup>3</sup><br>|
| Class 529-F-2 | &nbsp;&nbsp; 530 |  | 530 | &nbsp;&nbsp;&nbsp;&nbsp; 354 | 509 | 863 |
| Class 529-F-3 | &nbsp;&nbsp; — <br><sup>3</sup><br>|  | — <br><sup>3</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; — <br><sup>3</sup><br>| — <br><sup>3</sup><br>| — <br><sup>3</sup><br>|
| Class R-1 | &nbsp;&nbsp; 35 |  | 35 | &nbsp;&nbsp;&nbsp;&nbsp; 20 | 29 | 49 |
| Class R-2 | &nbsp;&nbsp; 95 |  | 95 | &nbsp;&nbsp;&nbsp;&nbsp; 67 | 96 | 163 |
| Class R-2E | &nbsp;&nbsp; 33 |  | 33 | &nbsp;&nbsp;&nbsp;&nbsp; 31 | 44 | 75 |
| Class R-3 | &nbsp;&nbsp; 312 |  | 312 | &nbsp;&nbsp;&nbsp;&nbsp; 212 | 304 | 516 |
| Class R-4 | &nbsp;&nbsp; 327 |  | 327 | &nbsp;&nbsp;&nbsp;&nbsp; 288 | 414 | 702 |
| Class R-5E | &nbsp;&nbsp; 104 |  | 104 | &nbsp;&nbsp;&nbsp;&nbsp; 79 | 114 | 193 |
| Class R-5 | &nbsp;&nbsp; 305 |  | 305 | &nbsp;&nbsp;&nbsp;&nbsp; 166 | 239 | 405 |
| Class R-6 | &nbsp;&nbsp; 147379 |  | 147379 | &nbsp;&nbsp;&nbsp;&nbsp; 96610 | 138846 | 235456 |
| Total | &nbsp;&nbsp; $378176 | $— | $378176 | &nbsp;&nbsp;&nbsp;&nbsp; $260057 | $373751 | $633808 |

---

<sup>2</sup>

All or a portion of these amounts may later be determined as return of capital; the determination will be made at December 31, 2025.

<sup>3</sup>

Amount less than one thousand.

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

------

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

**Investment advisory services** — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. These fees are based on a series of decreasing annual rates beginning with 0.280% on the first $15 billion of daily net assets and decreasing to 0.235% on such assets in excess of $17 billion. For the six months ended June 30, 2025, the investment advisory services fees were $26,117,000, which were equivalent to an annualized rate of 0.271% of average daily net assets.

---

| | |
|:---|:---|
| **59** | American Funds Strategic Bond Fund |

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------

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

**Distribution services** — The fund has plans of distribution for all share classes, except Class F-2, F-3, 529-F-2, 529-F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.30% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate CCG for paying service fees, to firms that have entered into agreements with CCG to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.

---

| | | |
|:---|:---|:---|
| **Share class** | **Currently approved limits** | **Plan limits** |
| Class A | 0.30<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.30<br> %<br>|
| Class 529-A | 0.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |
| Classes C, 529-C and R-1 | 1.00 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |
| Class R-2 | 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |
| Class R-2E | 0.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.85 |
| Classes 529-E and R-3 | 0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.75 |
| Classes T, F-1, 529-T, 529-F-1 and R-4 | 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.50 |

---

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

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

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

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

The quarterly fees are based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $75 billion. The fees for any given calendar quarter are accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. For the six months ended June 30, 2025, the 529 plan services fees were $33,000, which were equivalent to 0.054% of the average daily net assets of each 529 share class.

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **60** |

---

------

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Share class** | **Distribution** <br>**services**<br>| **Transfer agent** <br>**services**<br>| **Administrative** <br>**services**<br>| **529 plan** <br>**services**<br>|
| Class A | $3945 | $1403 | $394 | Not applicable |
| Class C | 353 | 38 | 11 | Not applicable |
| Class T |  | —<br> \*<br>| —<br> \*<br>| Not applicable |
| Class F-1 | 83 | 45 | 10 | Not applicable |
| Class F-2 | Not applicable | 4050 | 1040 | Not applicable |
| Class F-3 | Not applicable | 7 | 313 | Not applicable |
| Class 529-A | 106 | 45 | 13 | $24 |
| Class 529-C | 22 | 2 | 1 | 1 |
| Class 529-E | 6 | —<br> \*<br>| —<br> \*<br>| 1 |
| Class 529-T |  | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-1 |  | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class 529-F-2 | Not applicable | 5 | 4 | 7 |
| Class 529-F-3 | Not applicable | —<br> \*<br>| —<br> \*<br>| —<br> \*<br>|
| Class R-1 | 12 | 1 | —<br> \*<br>| Not applicable |
| Class R-2 | 24 | 9 | 1 | Not applicable |
| Class R-2E | 6 | 2 | —<br> \*<br>| Not applicable |
| Class R-3 | 46 | 13 | 3 | Not applicable |
| Class R-4 | 23 | 8 | 3 | Not applicable |
| Class R-5E | Not applicable | 4 | 1 | Not applicable |
| Class R-5 | Not applicable | 4 | 2 | Not applicable |
| Class R-6 | Not applicable | 23 | 1098 | Not applicable |
| Total class-specific expenses | $4626 | $5659 | $2894 | $33 |

---

\*

Amount less than one thousand.

**Trustees' deferred compensation** — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees' compensation of $40,000 in the fund's statement of operations reflects $38,000 in current fees (either paid in cash or deferred) and a net increase of $2,000 in the value of the deferred amounts.

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

**Investment in CCF** — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund's short-term instruments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

**Security transactions with related funds** — The fund may purchase investment securities from, or sell investment securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended June 30, 2025, the fund did not engage in any such purchase or sale transactions with any related funds.

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended June 30, 2025.

---

| | |
|:---|:---|
| **61** | American Funds Strategic Bond Fund |

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------

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

**8. Indemnifications**

------

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

**9. Capital share transactions**

------

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of**<br> **distributions** | **Reinvestments of**<br> **distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase**<br> **(decrease)** | **Net increase**<br> **(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** | **Six months ended June 30, 2025** |
| Class A | $242486 | 26460 | &nbsp;&nbsp;&nbsp; $47346 | 5166 | &nbsp;&nbsp;&nbsp; $(305454)<br>| (33409)<br>| &nbsp;&nbsp;&nbsp; $(15622)<br>| (1783)<br>|
| Class C | 6125 | 672 | &nbsp;&nbsp;&nbsp; 1001 | 110 | &nbsp;&nbsp;&nbsp; (15175)<br>| (1672)<br>| &nbsp;&nbsp;&nbsp; (8049)<br>| (890)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 4420 | 485 | &nbsp;&nbsp;&nbsp; 1178 | 128 | &nbsp;&nbsp;&nbsp; (15982)<br>| (1751)<br>| &nbsp;&nbsp;&nbsp; (10384)<br>| (1138)<br>|
| Class F-2 | 1094688 | 119375 | &nbsp;&nbsp;&nbsp; 133157 | 14521 | &nbsp;&nbsp;&nbsp; (1110589)<br>| (121323)<br>| &nbsp;&nbsp;&nbsp; 117256 | 12573 |
| Class F-3 | 246342 | 26904 | &nbsp;&nbsp;&nbsp; 40395 | 4408 | &nbsp;&nbsp;&nbsp; (411399)<br>| (44945)<br>| &nbsp;&nbsp;&nbsp; (124662)<br>| (13633)<br>|
| Class 529-A | 9697 | 1062 | &nbsp;&nbsp;&nbsp; 1606 | 175 | &nbsp;&nbsp;&nbsp; (12561)<br>| (1377)<br>| &nbsp;&nbsp;&nbsp; (1258)<br>| (140)<br>|
| Class 529-C | 494 | 54 | &nbsp;&nbsp;&nbsp; 59 | 7 | &nbsp;&nbsp;&nbsp; (1324)<br>| (146)<br>| &nbsp;&nbsp;&nbsp; (771)<br>| (85)<br>|
| Class 529-E | 211 | 23 | &nbsp;&nbsp;&nbsp; 40 | 4 | &nbsp;&nbsp;&nbsp; (219)<br>| (24)<br>| &nbsp;&nbsp;&nbsp; 32 | 3 |
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-2 | 3857 | 420 | &nbsp;&nbsp;&nbsp; 530 | 58 | &nbsp;&nbsp;&nbsp; (3728)<br>| (407)<br>| &nbsp;&nbsp;&nbsp; 659 | 71 |
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class R-1 | 139 | 15 | &nbsp;&nbsp;&nbsp; 35 | 4 | &nbsp;&nbsp;&nbsp; (242)<br>| (26)<br>| &nbsp;&nbsp;&nbsp; (68)<br>| (7)<br>|
| Class R-2 | 582 | 64 | &nbsp;&nbsp;&nbsp; 94 | 10 | &nbsp;&nbsp;&nbsp; (848)<br>| (93)<br>| &nbsp;&nbsp;&nbsp; (172)<br>| (19)<br>|
| Class R-2E | 386 | 42 | &nbsp;&nbsp;&nbsp; 33 | 4 | &nbsp;&nbsp;&nbsp; (802)<br>| (88)<br>| &nbsp;&nbsp;&nbsp; (383)<br>| (42)<br>|
| Class R-3 | 2624 | 288 | &nbsp;&nbsp;&nbsp; 303 | 33 | &nbsp;&nbsp;&nbsp; (3086)<br>| (337)<br>| &nbsp;&nbsp;&nbsp; (159)<br>| (16)<br>|
| Class R-4 | 1350 | 148 | &nbsp;&nbsp;&nbsp; 326 | 36 | &nbsp;&nbsp;&nbsp; (5616)<br>| (615)<br>| &nbsp;&nbsp;&nbsp; (3940)<br>| (431)<br>|
| Class R-5E | 712 | 78 | &nbsp;&nbsp;&nbsp; 104 | 11 | &nbsp;&nbsp;&nbsp; (2691)<br>| (293)<br>| &nbsp;&nbsp;&nbsp; (1875)<br>| (204)<br>|
| Class R-5 | 5156 | 564 | &nbsp;&nbsp;&nbsp; 302 | 33 | &nbsp;&nbsp;&nbsp; (2312)<br>| (252)<br>| &nbsp;&nbsp;&nbsp; 3146 | 345 |
| Class R-6 | 323662 | 35557 | &nbsp;&nbsp;&nbsp; 146941 | 16006 | &nbsp;&nbsp;&nbsp; (328126)<br>| (35610)<br>| &nbsp;&nbsp;&nbsp; 142477 | 15953 |
| Total net increase (decrease) | $1942931 | 212211 | &nbsp;&nbsp;&nbsp; $373450 | 40714 | &nbsp;&nbsp;&nbsp; $(2220154)<br>| (242368)<br>| &nbsp;&nbsp;&nbsp; $96227 | 10557 |

---

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

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **62** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Sales\*** | **Sales\*** | **Reinvestments of**<br> **distributions** | **Reinvestments of**<br> **distributions** | **Repurchases\*** | **Repurchases\*** | **Net increase**<br> **(decrease)** | **Net increase**<br> **(decrease)** |
| <br>**Share class** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** | **Year ended December 31, 2024** |
| Class A | $617541 | 67447 | &nbsp;&nbsp;&nbsp; $79726 | 8765 | &nbsp;&nbsp;&nbsp; $(719000)<br>| (78801)<br>| &nbsp;&nbsp;&nbsp; $(21733)<br>| (2589)<br>|
| Class C | 13847 | 1517 | &nbsp;&nbsp;&nbsp; 1919 | 212 | &nbsp;&nbsp;&nbsp; (34550)<br>| (3811)<br>| &nbsp;&nbsp;&nbsp; (18784)<br>| (2082)<br>|
| Class T |  |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — |  |
| Class F-1 | 15245 | 1668 | &nbsp;&nbsp;&nbsp; 2639 | 290 | &nbsp;&nbsp;&nbsp; (128823)<br>| (14154)<br>| &nbsp;&nbsp;&nbsp; (110939)<br>| (12196)<br>|
| Class F-2 | 3818656 | 420325 | &nbsp;&nbsp;&nbsp; 219296 | 24083 | &nbsp;&nbsp;&nbsp; (2579468)<br>| (282585)<br>| &nbsp;&nbsp;&nbsp; 1458484 | 161823 |
| Class F-3 | 664378 | 72704 | &nbsp;&nbsp;&nbsp; 80402 | 8843 | &nbsp;&nbsp;&nbsp; (1341929)<br>| (147084)<br>| &nbsp;&nbsp;&nbsp; (597149)<br>| (65537)<br>|
| Class 529-A | 24837 | 2713 | &nbsp;&nbsp;&nbsp; 2666 | 294 | &nbsp;&nbsp;&nbsp; (20970)<br>| (2295)<br>| &nbsp;&nbsp;&nbsp; 6533 | 712 |
| Class 529-C | 2104 | 231 | &nbsp;&nbsp;&nbsp; 116 | 13 | &nbsp;&nbsp;&nbsp; (3021)<br>| (331)<br>| &nbsp;&nbsp;&nbsp; (801)<br>| (87)<br>|
| Class 529-E | 360 | 39 | &nbsp;&nbsp;&nbsp; 71 | 8 | &nbsp;&nbsp;&nbsp; (745)<br>| (80)<br>| &nbsp;&nbsp;&nbsp; (314)<br>| (33)<br>|
| Class 529-T |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-1 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class 529-F-2 | 8260 | 904 | &nbsp;&nbsp;&nbsp; 862 | 95 | &nbsp;&nbsp;&nbsp; (9677)<br>| (1060)<br>| &nbsp;&nbsp;&nbsp; (555)<br>| (61)<br>|
| Class 529-F-3 |  |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — |  | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| — <br><sup>†</sup><br>|
| Class R-1 | 1158 | 129 | &nbsp;&nbsp;&nbsp; 49 | 5 | &nbsp;&nbsp;&nbsp; (162)<br>| (18)<br>| &nbsp;&nbsp;&nbsp; 1045 | 116 |
| Class R-2 | 2334 | 257 | &nbsp;&nbsp;&nbsp; 162 | 18 | &nbsp;&nbsp;&nbsp; (2555)<br>| (282)<br>| &nbsp;&nbsp;&nbsp; (59)<br>| (7)<br>|
| Class R-2E | 650 | 71 | &nbsp;&nbsp;&nbsp; 75 | 8 | &nbsp;&nbsp;&nbsp; (2024)<br>| (220)<br>| &nbsp;&nbsp;&nbsp; (1299)<br>| (141)<br>|
| Class R-3 | 4994 | 545 | &nbsp;&nbsp;&nbsp; 510 | 56 | &nbsp;&nbsp;&nbsp; (4820)<br>| (531)<br>| &nbsp;&nbsp;&nbsp; 684 | 70 |
| Class R-4 | 5161 | 566 | &nbsp;&nbsp;&nbsp; 702 | 77 | &nbsp;&nbsp;&nbsp; (9110)<br>| (1000)<br>| &nbsp;&nbsp;&nbsp; (3247)<br>| (357)<br>|
| Class R-5E | 2216 | 242 | &nbsp;&nbsp;&nbsp; 191 | 21 | &nbsp;&nbsp;&nbsp; (2052)<br>| (226)<br>| &nbsp;&nbsp;&nbsp; 355 | 37 |
| Class R-5 | 4975 | 546 | &nbsp;&nbsp;&nbsp; 401 | 44 | &nbsp;&nbsp;&nbsp; (4316)<br>| (472)<br>| &nbsp;&nbsp;&nbsp; 1060 | 118 |
| Class R-6 | 1153637 | 126471 | &nbsp;&nbsp;&nbsp; 234736 | 25773 | &nbsp;&nbsp;&nbsp; (423322)<br>| (46189)<br>| &nbsp;&nbsp;&nbsp; 965051 | 106055 |
| Total net increase (decrease) | $6340353 | 696375 | &nbsp;&nbsp;&nbsp; $624523 | 68605 | &nbsp;&nbsp;&nbsp; $(5286544)<br>| (579139)<br>| &nbsp;&nbsp;&nbsp; $1678332 | 185841 |

---

\*

Includes exchanges between share classes of the fund.

<sup>†</sup>

Amount less than one thousand.

**10. Investment transactions**

------

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

if any, of $20,275,155,000 and $20,723,234,000, respectively, during the six months ended June 30, 2025.

---

| | |
|:---|:---|
| **63** | American Funds Strategic Bond Fund |

---

------

Financial highlights

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | | | | | | |
| <br>**Year ended**  | <br>**Net asset** <br>**value,** <br>**beginning** <br>**of year**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Return of** <br>**capital**<br>| **Total** <br>**dividends,** <br>**distributions** <br>**and** <br>**return of** <br>**capital**<br>| <br>**Net asset** <br>**value,** <br>**end** <br>**of year**<br>| <br>**Total return**<sup>2,3</sup> <br>| <br>**Net assets,** <br>**end of year** <br>**(in millions)** <br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets before** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>4</sup> <br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets after** <br>**waivers/** <br>**reimburse-** <br>**ments**<sup>3,4</sup> <br>| <br>**Ratio of** <br>**net income** <br>**(loss)** <br>**to average** <br>**net assets**<sup>3</sup> <br>|
| **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  | **Class A:**  |
| 6/30/2025<sup>5,6</sup> <br>| $8.95 | $.23 | $.28 | $.51 | $(.17)<br>| $— | $— | $(.17)<br>| $9.29 | 5.56 %<sup>7</sup><br>| $2702 | .72 %<sup>8</sup><br>| .72 %<sup>8</sup><br>| 5.10 %<sup>8</sup><br>|
| 12/31/2024 | 9.29 | .46 | (.53)<br>| (.07)<br>| (.11)<br>|  | (.16)<br>| (.27)<br>| 8.95 | (.60)<br>| 2619 | .72 | .72 | 5.06 |
| 12/31/2023 | 9.42 | .40 | (.26)<br>| .14 | (.17)<br>|  | (.10)<br>| (.27)<br>| 9.29 | 1.52 | 2741 | .73 | .73 | 4.30 |
| 12/31/2022 | 11.36 | .39 | (1.83)<br>| (1.44)<br>| (.49)<br>|  | (.01)<br>| (.50)<br>| 9.42 | (12.72)<br>| 2364 | .73 | .73 | 3.78 |
| 12/31/2021 | 11.68 | .28 | (.40)<br>| (.12)<br>| (.20)<br>|  |  | (.20)<br>| 11.36 | (1.13)<br>| 2224 | .75 | .75 | 2.45 |
| 12/31/2020 | 10.28 | .15 | 1.70 | 1.85 | (.22)<br>| (.23)<br>|  | (.45)<br>| 11.68 | 18.09 | 1681 | .85 | .83 | 1.33 |
| **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  | **Class C:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.90 | .20 | .27 | .47 | (.13)<br>|  |  | (.13)<br>| 9.24 | 5.33 <br><sup>7</sup><br>| 69 | 1.42 <br><sup>8</sup><br>| 1.42 <br><sup>8</sup><br>| 4.39 <br><sup>8</sup><br>|
| 12/31/2024 | 9.23 | .40 | (.52)<br>| (.12)<br>| (.09)<br>|  | (.12)<br>| (.21)<br>| 8.90 | (1.33)<br>| 74 | 1.42 | 1.42 | 4.36 |
| 12/31/2023 | 9.36 | .33 | (.25)<br>| .08 | (.13)<br>|  | (.08)<br>| (.21)<br>| 9.23 | .82 | 96 | 1.43 | 1.43 | 3.59 |
| 12/31/2022 | 11.30 | .31 | (1.82)<br>| (1.51)<br>| (.42)<br>|  | (.01)<br>| (.43)<br>| 9.36 | (13.41)<br>| 90 | 1.43 | 1.43 | 3.05 |
| 12/31/2021 | 11.61 | .19 | (.39)<br>| (.20)<br>| (.11)<br>|  |  | (.11)<br>| 11.30 | (1.77)<br>| 108 | 1.46 | 1.45 | 1.70 |
| 12/31/2020 | 10.23 | .07 | 1.69 | 1.76 | (.15)<br>| (.23)<br>|  | (.38)<br>| 11.61 | 17.16 | 125 | 1.54 | 1.53 | .62 |
| **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  | **Class T:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.96 | .25 | .27 | .52 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.82 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .43 <br><sup>89</sup><br>| .43 <br><sup>89</sup><br>| 5.40 <br><sup>89</sup><br>|
| 12/31/2024 | 9.29 | .49 | (.52)<br>| (.03)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.96 | (.31 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .42 <br><sup>9</sup><br>| .42 <br><sup>9</sup><br>| 5.39 <br><sup>9</sup><br>|
| 12/31/2023 | 9.42 | .43 | (.26)<br>| .17 | (.19)<br>|  | (.11)<br>| (.30)<br>| 9.29 | 1.88 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .37 <br><sup>9</sup><br>| .37 <br><sup>9</sup><br>| 4.63 <br><sup>9</sup><br>|
| 12/31/2022 | 11.36 | .42 | (1.83)<br>| (1.41)<br>| (.52)<br>|  | (.01)<br>| (.53)<br>| 9.42 | (12.55 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .43 <br><sup>9</sup><br>| .43 <br><sup>9</sup><br>| 4.06 <br><sup>9</sup><br>|
| 12/31/2021 | 11.69 | .31 | (.41)<br>| (.10)<br>| (.23)<br>|  |  | (.23)<br>| 11.36 | (.85 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .46 <br><sup>9</sup><br>| .45 <br><sup>9</sup><br>| 2.70 <br><sup>9</sup><br>|
| 12/31/2020 | 10.28 | .18 | 1.71 | 1.89 | (.25)<br>| (.23)<br>|  | (.48)<br>| 11.69 | 18.37 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .58 <br><sup>9</sup><br>| .56 <br><sup>9</sup><br>| 1.61 <br><sup>9</sup><br>|
| **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  | **Class F-1:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .23 | .28 | .51 | (.17)<br>|  |  | (.17)<br>| 9.29 | 5.68 <br><sup>7</sup><br>| 65 | .70 <br><sup>8</sup><br>| .70 <br><sup>8</sup><br>| 5.12 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .46 | (.52)<br>| (.06)<br>| (.11)<br>|  | (.16)<br>| (.27)<br>| 8.95 | (.64)<br>| 73 | .70 | .70 | 5.04 |
| 12/31/2023 | 9.41 | .40 | (.26)<br>| .14 | (.17)<br>|  | (.10)<br>| (.27)<br>| 9.28 | 1.63 | 188 | .70 | .70 | 4.29 |
| 12/31/2022 | 11.34 | .39 | (1.81)<br>| (1.42)<br>| (.50)<br>|  | (.01)<br>| (.51)<br>| 9.41 | (12.82)<br>| 288 | .71 | .71 | 3.78 |
| 12/31/2021 | 11.66 | .28 | (.40)<br>| (.12)<br>| (.20)<br>|  |  | (.20)<br>| 11.34 | (1.04)<br>| 323 | .74 | .73 | 2.45 |
| 12/31/2020 | 10.28 | .15 | 1.69 | 1.84 | (.23)<br>| (.23)<br>|  | (.46)<br>| 11.66 | 18.02 | 289 | .79 | .78 | 1.30 |
| **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  | **Class F-2:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.96 | .24 | .28 | .52 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.82 <br><sup>7</sup><br>| 7247 | .43 <br><sup>8</sup><br>| .43 <br><sup>8</sup><br>| 5.39 <br><sup>8</sup><br>|
| 12/31/2024 | 9.29 | .49 | (.52)<br>| (.03)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.96 | (.30)<br>| 6868 | .42 | .42 | 5.37 |
| 12/31/2023 | 9.42 | .43 | (.26)<br>| .17 | (.19)<br>|  | (.11)<br>| (.30)<br>| 9.29 | 1.82 | 5620 | .42 | .42 | 4.61 |
| 12/31/2022 | 11.36 | .42 | (1.83)<br>| (1.41)<br>| (.52)<br>|  | (.01)<br>| (.53)<br>| 9.42 | (12.55)<br>| 4992 | .44 | .44 | 4.09 |
| 12/31/2021 | 11.68 | .32 | (.41)<br>| (.09)<br>| (.23)<br>|  |  | (.23)<br>| 11.36 | (.77)<br>| 3056 | .47 | .46 | 2.78 |
| 12/31/2020 | 10.28 | .19 | 1.69 | 1.88 | (.25)<br>| (.23)<br>|  | (.48)<br>| 11.68 | 18.31 | 1680 | .53 | .52 | 1.58 |
| **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  | **Class F-3:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.96 | .25 | .27 | .52 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.88 <br><sup>7</sup><br>| 2094 | .31 <br><sup>8</sup><br>| .31 <br><sup>8</sup><br>| 5.50 <br><sup>8</sup><br>|
| 12/31/2024 | 9.29 | .50 | (.52)<br>| (.02)<br>| (.13)<br>|  | (.18)<br>| (.31)<br>| 8.96 | (.20)<br>| 2140 | .32 | .32 | 5.47 |
| 12/31/2023 | 9.42 | .44 | (.26)<br>| .18 | (.19)<br>|  | (.12)<br>| (.31)<br>| 9.29 | 1.93 | 2828 | .32 | .32 | 4.73 |
| 12/31/2022 | 11.36 | .43 | (1.83)<br>| (1.40)<br>| (.53)<br>|  | (.01)<br>| (.54)<br>| 9.42 | (12.46)<br>| 2188 | .33 | .33 | 4.21 |
| 12/31/2021 | 11.68 | .33 | (.41)<br>| (.08)<br>| (.24)<br>|  |  | (.24)<br>| 11.36 | (.67)<br>| 1179 | .37 | .36 | 2.89 |
| 12/31/2020 | 10.28 | .20 | 1.69 | 1.89 | (.26)<br>| (.23)<br>|  | (.49)<br>| 11.68 | 18.51 | 549 | .45 | .44 | 1.69 |
| **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  | **Class 529-A:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .23 | .28 | .51 | (.17)<br>|  |  | (.17)<br>| 9.29 | 5.69 <br><sup>7</sup><br>| 91 | .70 <br><sup>8</sup><br>| .70 <br><sup>8</sup><br>| 5.11 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .46 | (.52)<br>| (.06)<br>| (.11)<br>|  | (.16)<br>| (.27)<br>| 8.95 | (.59)<br>| 89 | .71 | .71 | 5.07 |
| 12/31/2023 | 9.41 | .40 | (.26)<br>| .14 | (.17)<br>|  | (.10)<br>| (.27)<br>| 9.28 | 1.53 | 85 | .72 | .72 | 4.31 |
| 12/31/2022 | 11.35 | .39 | (1.83)<br>| (1.44)<br>| (.49)<br>|  | (.01)<br>| (.50)<br>| 9.41 | (12.74)<br>| 77 | .72 | .72 | 3.79 |
| 12/31/2021 | 11.67 | .28 | (.40)<br>| (.12)<br>| (.20)<br>|  |  | (.20)<br>| 11.35 | (1.13)<br>| 83 | .75 | .74 | 2.45 |
| 12/31/2020 | 10.27 | .15 | 1.70 | 1.85 | (.22)<br>| (.23)<br>|  | (.45)<br>| 11.67 | 18.13 | 69 | .84 | .82 | 1.35 |

---

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

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **64** |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | | | | | | |
| <br>**Year ended**  | <br>**Net asset**<br> **value,**<br> **beginning**<br> **of year**<br>| **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Return of**<br> **capital**<br>| **Total**<br> **dividends,**<br> **distributions**<br> **and**<br> **return of**<br> **capital**<br>| <br>**Net asset**<br> **value,**<br> **end**<br> **of year**<br>| <br>**Total return**<sup>2,3</sup> | <br>**Net assets,**<br> **end of year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>4</sup><br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>3,4</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss)**<br> **to average**<br> **net assets**<sup>3</sup><br>|
| **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  | **Class 529-C:**  |
| 6/30/2025<sup>5,6</sup> <br>| $8.91 | $.20 | $.27 | $.47 | $(.13)<br>| $— | $— | $(.13)<br>| $9.25 | 5.29 %<sup>7</sup><br>| $4 | 1.47 %<sup>8</sup><br>| 1.47 %<sup>8</sup><br>| 4.35 %<sup>8</sup><br>|
| 12/31/2024 | 9.24 | .39 | (.52)<br>| (.13)<br>| (.08)<br>|  | (.12)<br>| (.20)<br>| 8.91 | (1.38)<br>| 5 | 1.47 | 1.47 | 4.32 |
| 12/31/2023 | 9.37 | .32 | (.26)<br>| .06 | (.12)<br>|  | (.07)<br>| (.19)<br>| 9.24 | .74 | 6 | 1.49 | 1.49 | 3.51 |
| 12/31/2022 | 11.30 | .31 | (1.82)<br>| (1.51)<br>| (.41)<br>|  | (.01)<br>| (.42)<br>| 9.37 | (13.46)<br>| 7 | 1.49 | 1.49 | 3.01 |
| 12/31/2021 | 11.62 | .19 | (.40)<br>| (.21)<br>| (.11)<br>|  |  | (.11)<br>| 11.30 | (1.81)<br>| 9 | 1.51 | 1.50 | 1.66 |
| 12/31/2020 | 10.23 | .07 | 1.68 | 1.75 | (.13)<br>| (.23)<br>|  | (.36)<br>| 11.62 | 17.17 | 9 | 1.63 | 1.61 | .59 |
| **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  | **Class 529-E:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .22 | .28 | .50 | (.16)<br>|  |  | (.16)<br>| 9.29 | 5.58 <br><sup>7</sup><br>| 3 | .90 <br><sup>8</sup><br>| .90 <br><sup>8</sup><br>| 4.91 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .45 | (.52)<br>| (.07)<br>| (.11)<br>|  | (.15)<br>| (.26)<br>| 8.95 | (.79)<br>| 2 | .90 | .90 | 4.88 |
| 12/31/2023 | 9.41 | .38 | (.25)<br>| .13 | (.16)<br>|  | (.10)<br>| (.26)<br>| 9.28 | 1.32 | 3 | .92 | .92 | 4.08 |
| 12/31/2022 | 11.35 | .37 | (1.83)<br>| (1.46)<br>| (.47)<br>|  | (.01)<br>| (.48)<br>| 9.41 | (12.99)<br>| 3 | .92 | .92 | 3.57 |
| 12/31/2021 | 11.67 | .25 | (.40)<br>| (.15)<br>| (.17)<br>|  |  | (.17)<br>| 11.35 | (1.26)<br>| 4 | .96 | .95 | 2.18 |
| 12/31/2020 | 10.27 | .13 | 1.70 | 1.83 | (.20)<br>| (.23)<br>|  | (.43)<br>| 11.67 | 17.75 | 4 | 1.05 | 1.03 | 1.12 |
| **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  | **Class 529-T:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.97 | .24 | .28 | .52 | (.18)<br>|  |  | (.18)<br>| 9.31 | 5.79 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .47 <br><sup>89</sup><br>| .47 <br><sup>89</sup><br>| 5.33 <br><sup>89</sup><br>|
| 12/31/2024 | 9.30 | .49 | (.52)<br>| (.03)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.97 | (.36 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .47 <br><sup>9</sup><br>| .47 <br><sup>9</sup><br>| 5.31 <br><sup>9</sup><br>|
| 12/31/2023 | 9.43 | .42 | (.26)<br>| .16 | (.18)<br>|  | (.11)<br>| (.29)<br>| 9.30 | 1.82 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .43 <br><sup>9</sup><br>| .43 <br><sup>9</sup><br>| 4.56 <br><sup>9</sup><br>|
| 12/31/2022 | 11.37 | .41 | (1.82)<br>| (1.41)<br>| (.52)<br>|  | (.01)<br>| (.53)<br>| 9.43 | (12.58 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .49 <br><sup>9</sup><br>| .49 <br><sup>9</sup><br>| 4.00 <br><sup>9</sup><br>|
| 12/31/2021 | 11.69 | .30 | (.40)<br>| (.10)<br>| (.22)<br>|  |  | (.22)<br>| 11.37 | (.83 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .53 <br><sup>9</sup><br>| .52 <br><sup>9</sup><br>| 2.64 <br><sup>9</sup><br>|
| 12/31/2020 | 10.29 | .18 | 1.69 | 1.87 | (.24)<br>| (.23)<br>|  | (.47)<br>| 11.69 | 18.30 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .64 <br><sup>9</sup><br>| .62 <br><sup>9</sup><br>| 1.57 <br><sup>9</sup><br>|
| **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  | **Class 529-F-1:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .24 | .28 | .52 | (.18)<br>|  |  | (.18)<br>| 9.29 | 5.80 <br><sup>79</sup><br>| — <br><sup>10</sup><br>| .48 <br><sup>89</sup><br>| .48 <br><sup>89</sup><br>| 5.34 <br><sup>89</sup><br>|
| 12/31/2024 | 9.28 | .49 | (.52)<br>| (.03)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.95 | (.37 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .49 <br><sup>9</sup><br>| .49 <br><sup>9</sup><br>| 5.33 <br><sup>9</sup><br>|
| 12/31/2023 | 9.42 | .42 | (.27)<br>| .15 | (.18)<br>|  | (.11)<br>| (.29)<br>| 9.28 | 1.75 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .50 <br><sup>9</sup><br>| .50 <br><sup>9</sup><br>| 4.51 <br><sup>9</sup><br>|
| 12/31/2022 | 11.35 | .41 | (1.82)<br>| (1.41)<br>| (.51)<br>|  | (.01)<br>| (.52)<br>| 9.42 | (12.63 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .52 <br><sup>9</sup><br>| .52 <br><sup>9</sup><br>| 3.96 <br><sup>9</sup><br>|
| 12/31/2021 | 11.68 | .30 | (.41)<br>| (.11)<br>| (.22)<br>|  |  | (.22)<br>| 11.35 | (.94 )<sup>9</sup><br>| — <br><sup>10</sup><br>| .55 <br><sup>9</sup><br>| .54 <br><sup>9</sup><br>| 2.60 <br><sup>9</sup><br>|
| 12/31/2020 | 10.28 | .18 | 1.70 | 1.88 | (.25)<br>| (.23)<br>|  | (.48)<br>| 11.68 | 18.35 <br><sup>9</sup><br>| — <br><sup>10</sup><br>| .63 <br><sup>9</sup><br>| .61 <br><sup>9</sup><br>| 1.57 <br><sup>9</sup><br>|
| **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  | **Class 529-F-2:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .25 | .28 | .53 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.83 <br><sup>7</sup><br>| 28 | .40 <br><sup>8</sup><br>| .40 <br><sup>8</sup><br>| 5.41 <br><sup>8</sup><br>|
| 12/31/2024 | 9.29 | .49 | (.53)<br>| (.04)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.95 | (.29)<br>| 27 | .41 | .41 | 5.37 |
| 12/31/2023 | 9.42 | .43 | (.26)<br>| .17 | (.19)<br>|  | (.11)<br>| (.30)<br>| 9.29 | 1.84 | 28 | .41 | .41 | 4.62 |
| 12/31/2022 | 11.36 | .42 | (1.83)<br>| (1.41)<br>| (.52)<br>|  | (.01)<br>| (.53)<br>| 9.42 | (12.47)<br>| 24 | .43 | .43 | 4.09 |
| 12/31/2021 | 11.68 | .31 | (.40)<br>| (.09)<br>| (.23)<br>|  |  | (.23)<br>| 11.36 | (.86)<br>| 25 | .48 | .47 | 2.72 |
| 12/31/2020<sup>5,11</sup> <br>| 11.78 | .03 | .21 | .24 | (.11)<br>| (.23)<br>|  | (.34)<br>| 11.68 | 2.04 <br><sup>7</sup><br>| 21 | .09 <br><sup>7</sup><br>| .08 <br><sup>7</sup><br>| .28 <br><sup>7</sup><br>|
| **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  | **Class 529-F-3:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .25 | .28 | .53 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.98 <br><sup>7</sup><br>| — <br><sup>10</sup><br>| .35 <br><sup>8</sup><br>| .35 <br><sup>8</sup><br>| 5.47 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .50 | (.52)<br>| (.02)<br>| (.13)<br>|  | (.18)<br>| (.31)<br>| 8.95 | (.24)<br>| — <br><sup>10</sup><br>| .36 | .36 | 5.45 |
| 12/31/2023 | 9.41 | .43 | (.26)<br>| .17 | (.19)<br>|  | (.11)<br>| (.30)<br>| 9.28 | 1.87 | — <br><sup>10</sup><br>| .38 | .38 | 4.63 |
| 12/31/2022 | 11.35 | .42 | (1.82)<br>| (1.40)<br>| (.53)<br>|  | (.01)<br>| (.54)<br>| 9.41 | (12.52)<br>| — <br><sup>10</sup><br>| .39 | .39 | 4.09 |
| 12/31/2021 | 11.68 | .31 | (.41)<br>| (.10)<br>| (.23)<br>|  |  | (.23)<br>| 11.35 | (.83)<br>| — <br><sup>10</sup><br>| .46 | .43 | 2.71 |
| 12/31/2020<sup>5,11</sup> <br>| 11.78 | .03 | .21 | .24 | (.11)<br>| (.23)<br>|  | (.34)<br>| 11.68 | 2.07 <br><sup>7</sup><br>| — <br><sup>10</sup><br>| .12 <br><sup>7</sup><br>| .08 <br><sup>7</sup><br>| .28 <br><sup>7</sup><br>|
| **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  | **Class R-1:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .20 | .27 | .47 | (.13)<br>|  |  | (.13)<br>| 9.29 | 5.33 <br><sup>7</sup><br>| 2 | 1.40 <br><sup>8</sup><br>| 1.40 <br><sup>8</sup><br>| 4.41 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .40 | (.51)<br>| (.11)<br>| (.09)<br>|  | (.13)<br>| (.22)<br>| 8.95 | (1.22)<br>| 2 | 1.40 | 1.40 | 4.38 |
| 12/31/2023 | 9.42 | .33 | (.26)<br>| .07 | (.13)<br>|  | (.08)<br>| (.21)<br>| 9.28 | .76 | 1 | 1.43 | 1.43 | 3.60 |
| 12/31/2022 | 11.34 | .32 | (1.82)<br>| (1.50)<br>| (.41)<br>|  | (.01)<br>| (.42)<br>| 9.42 | (13.36)<br>| 1 | 1.38 | 1.38 | 3.16 |
| 12/31/2021 | 11.66 | .20 | (.40)<br>| (.20)<br>| (.12)<br>|  |  | (.12)<br>| 11.34 | (1.70)<br>| 2 | 1.43 | 1.43 | 1.74 |
| 12/31/2020 | 10.25 | .08 | 1.69 | 1.77 | (.13)<br>| (.23)<br>|  | (.36)<br>| 11.66 | 17.19 | 1 | 1.53 | 1.50 | .71 |

---

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

---

| | |
|:---|:---|
| **65** | American Funds Strategic Bond Fund |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | **Dividends, distributions and return of capital** | | | | | | |
| <br>**Year ended**  | <br>**Net asset**<br> **value,**<br> **beginning**<br> **of year**<br>| **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Return of**<br> **capital**<br>| **Total**<br> **dividends,**<br> **distributions**<br> **and**<br> **return of**<br> **capital**<br>| <br>**Net asset**<br> **value,**<br> **end**<br> **of year**<br>| <br>**Total return**<sup>2,3</sup> | <br>**Net assets,**<br> **end of year**<br> **(in millions)** <br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets before**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>4</sup><br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets after**<br> **waivers/**<br> **reimburse-**<br> **ments**<sup>3,4</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss)**<br> **to average**<br> **net assets**<sup>3</sup><br>|
| **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  | **Class R-2:**  |
| 6/30/2025<sup>5,6</sup> <br>| $8.92 | $.20 | $.28 | $.48 | $(.14)<br>| $— | $— | $(.14)<br>| $9.26 | 5.37 %<sup>7</sup><br>| $6 | 1.35 %<sup>8</sup><br>| 1.35 %<sup>8</sup><br>| 4.46 %<sup>8</sup><br>|
| 12/31/2024 | 9.26 | .40 | (.52)<br>| (.12)<br>| (.09)<br>|  | (.13)<br>| (.22)<br>| 8.92 | (1.23)<br>| 6 | 1.35 | 1.35 | 4.43 |
| 12/31/2023 | 9.39 | .34 | (.26)<br>| .08 | (.13)<br>|  | (.08)<br>| (.21)<br>| 9.26 | .88 | 7 | 1.36 | 1.36 | 3.67 |
| 12/31/2022 | 11.32 | .32 | (1.81)<br>| (1.49)<br>| (.43)<br>|  | (.01)<br>| (.44)<br>| 9.39 | (13.42)<br>| 6 | 1.37 | 1.37 | 3.10 |
| 12/31/2021 | 11.64 | .20 | (.40)<br>| (.20)<br>| (.12)<br>|  |  | (.12)<br>| 11.32 | (1.71)<br>| 7 | 1.40 | 1.39 | 1.78 |
| 12/31/2020 | 10.25 | .08 | 1.69 | 1.77 | (.15)<br>| (.23)<br>|  | (.38)<br>| 11.64 | 17.32 | 7 | 1.51 | 1.49 | .67 |
| **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  | **Class R-2E:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.94 | .21 | .28 | .49 | (.15)<br>|  |  | (.15)<br>| 9.28 | 5.47 <br><sup>7</sup><br>| 2 | 1.13 <br><sup>8</sup><br>| 1.13 <br><sup>8</sup><br>| 4.68 <br><sup>8</sup><br>|
| 12/31/2024 | 9.27 | .42 | (.51)<br>| (.09)<br>| (.10)<br>|  | (.14)<br>| (.24)<br>| 8.94 | (1.04)<br>| 2 | 1.12 | 1.12 | 4.65 |
| 12/31/2023 | 9.40 | .36 | (.25)<br>| .11 | (.15)<br>|  | (.09)<br>| (.24)<br>| 9.27 | 1.14 | 3 | 1.12 | 1.12 | 3.92 |
| 12/31/2022 | 11.35 | .35 | (1.83)<br>| (1.48)<br>| (.46)<br>|  | (.01)<br>| (.47)<br>| 9.40 | (13.12)<br>| 3 | 1.13 | 1.13 | 3.42 |
| 12/31/2021 | 11.67 | .24 | (.41)<br>| (.17)<br>| (.15)<br>|  |  | (.15)<br>| 11.35 | (1.53)<br>| 1 | 1.15 | 1.15 | 2.07 |
| 12/31/2020 | 10.28 | .11 | 1.70 | 1.81 | (.19)<br>| (.23)<br>|  | (.42)<br>| 11.67 | 17.66 | 1 | 1.25 | 1.23 | .96 |
| **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  | **Class R-3:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.93 | .22 | .27 | .49 | (.15)<br>|  |  | (.15)<br>| 9.27 | 5.57 <br><sup>7</sup><br>| 19 | .95 <br><sup>8</sup><br>| .95 <br><sup>8</sup><br>| 4.87 <br><sup>8</sup><br>|
| 12/31/2024 | 9.27 | .44 | (.53)<br>| (.09)<br>| (.10)<br>|  | (.15)<br>| (.25)<br>| 8.93 | (.94)<br>| 18 | .95 | .95 | 4.83 |
| 12/31/2023 | 9.40 | .38 | (.26)<br>| .12 | (.16)<br>|  | (.09)<br>| (.25)<br>| 9.27 | 1.31 | 18 | .96 | .96 | 4.10 |
| 12/31/2022 | 11.34 | .37 | (1.83)<br>| (1.46)<br>| (.47)<br>|  | (.01)<br>| (.48)<br>| 9.40 | (13.02)<br>| 12 | .97 | .97 | 3.55 |
| 12/31/2021 | 11.66 | .25 | (.40)<br>| (.15)<br>| (.17)<br>|  |  | (.17)<br>| 11.34 | (1.28)<br>| 11 | .99 | .99 | 2.21 |
| 12/31/2020 | 10.26 | .13 | 1.69 | 1.82 | (.19)<br>| (.23)<br>|  | (.42)<br>| 11.66 | 17.75 | 8 | 1.09 | 1.07 | 1.10 |
| **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  | **Class R-4:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.95 | .23 | .28 | .51 | (.17)<br>|  |  | (.17)<br>| 9.29 | 5.71 <br><sup>7</sup><br>| 17 | .64 <br><sup>8</sup><br>| .64 <br><sup>8</sup><br>| 5.17 <br><sup>8</sup><br>|
| 12/31/2024 | 9.28 | .47 | (.51)<br>| (.04)<br>| (.12)<br>|  | (.17)<br>| (.29)<br>| 8.95 | (.54)<br>| 21 | .65 | .65 | 5.13 |
| 12/31/2023 | 9.41 | .41 | (.27)<br>| .14 | (.17)<br>|  | (.10)<br>| (.27)<br>| 9.28 | 1.60 | 25 | .65 | .65 | 4.40 |
| 12/31/2022 | 11.35 | .40 | (1.83)<br>| (1.43)<br>| (.50)<br>|  | (.01)<br>| (.51)<br>| 9.41 | (12.75)<br>| 19 | .66 | .66 | 3.84 |
| 12/31/2021 | 11.67 | .29 | (.40)<br>| (.11)<br>| (.21)<br>|  |  | (.21)<br>| 11.35 | (.96)<br>| 16 | .69 | .68 | 2.56 |
| 12/31/2020 | 10.27 | .16 | 1.70 | 1.86 | (.23)<br>| (.23)<br>|  | (.46)<br>| 11.67 | 18.07 | 7 | .79 | .77 | 1.40 |
| **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  | **Class R-5E:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.96 | .24 | .28 | .52 | (.18)<br>|  |  | (.18)<br>| 9.30 | 5.79 <br><sup>7</sup><br>| 4 | .47 <br><sup>8</sup><br>| .47 <br><sup>8</sup><br>| 5.34 <br><sup>8</sup><br>|
| 12/31/2024 | 9.30 | .49 | (.53)<br>| (.04)<br>| (.12)<br>|  | (.18)<br>| (.30)<br>| 8.96 | (.35)<br>| 6 | .46 | .46 | 5.31 |
| 12/31/2023 | 9.43 | .42 | (.26)<br>| .16 | (.18)<br>|  | (.11)<br>| (.29)<br>| 9.30 | 1.78 | 6 | .46 | .46 | 4.54 |
| 12/31/2022 | 11.37 | .41 | (1.82)<br>| (1.41)<br>| (.52)<br>|  | (.01)<br>| (.53)<br>| 9.43 | (12.58)<br>| 6 | .46 | .46 | 4.01 |
| 12/31/2021 | 11.69 | .31 | (.41)<br>| (.10)<br>| (.22)<br>|  |  | (.22)<br>| 11.37 | (.91)<br>| 2 | .52 | .51 | 2.73 |
| 12/31/2020 | 10.29 | .18 | 1.70 | 1.88 | (.25)<br>| (.23)<br>|  | (.48)<br>| 11.69 | 18.35 | 2 | .60 | .58 | 1.59 |
| **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  | **Class R-5:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.97 | .25 | .27 | .52 | (.18)<br>|  |  | (.18)<br>| 9.31 | 5.85 <br><sup>7</sup><br>| 16 | .37 <br><sup>8</sup><br>| .37 <br><sup>8</sup><br>| 5.46 <br><sup>8</sup><br>|
| 12/31/2024 | 9.30 | .50 | (.52)<br>| (.02)<br>| (.13)<br>|  | (.18)<br>| (.31)<br>| 8.97 | (.25)<br>| 12 | .37 | .37 | 5.42 |
| 12/31/2023 | 9.43 | .44 | (.27)<br>| .17 | (.19)<br>|  | (.11)<br>| (.30)<br>| 9.30 | 1.88 | 11 | .37 | .37 | 4.74 |
| 12/31/2022 | 11.37 | .42 | (1.82)<br>| (1.40)<br>| (.53)<br>|  | (.01)<br>| (.54)<br>| 9.43 | (12.48)<br>| 5 | .38 | .38 | 4.11 |
| 12/31/2021 | 11.69 | .32 | (.40)<br>| (.08)<br>| (.24)<br>|  |  | (.24)<br>| 11.37 | (.70)<br>| 3 | .40 | .40 | 2.79 |
| 12/31/2020 | 10.29 | .19 | 1.70 | 1.89 | (.26)<br>| (.23)<br>|  | (.49)<br>| 11.69 | 18.44 | 3 | .51 | .49 | 1.67 |
| **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  | **Class R-6:**  |
| 6/30/2025<sup>5,6</sup> <br>| 8.97 | .25 | .27 | .52 | (.18)<br>|  |  | (.18)<br>| 9.31 | 5.87 <br><sup>7</sup><br>| 7553 | .31 <br><sup>8</sup><br>| .31 <br><sup>8</sup><br>| 5.50 <br><sup>8</sup><br>|
| 12/31/2024 | 9.30 | .50 | (.52)<br>| (.02)<br>| (.13)<br>|  | (.18)<br>| (.31)<br>| 8.97 | (.20)<br>| 7133 | .32 | .32 | 5.47 |
| 12/31/2023 | 9.43 | .44 | (.26)<br>| .18 | (.19)<br>|  | (.12)<br>| (.31)<br>| 9.30 | 1.93 | 6411 | .32 | .32 | 4.70 |
| 12/31/2022 | 11.37 | .43 | (1.83)<br>| (1.40)<br>| (.53)<br>|  | (.01)<br>| (.54)<br>| 9.43 | (12.45)<br>| 5718 | .33 | .33 | 4.19 |
| 12/31/2021 | 11.69 | .34 | (.42)<br>| (.08)<br>| (.24)<br>|  |  | (.24)<br>| 11.37 | (.67)<br>| 3149 | .36 | .36 | 2.94 |
| 12/31/2020 | 10.29 | .20 | 1.69 | 1.89 | (.26)<br>| (.23)<br>|  | (.49)<br>| 11.69 | 18.49 | 1243 | .42 | .42 | 1.68 |

---

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

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **66** |

---

------

Financial highlights (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Portfolio turnover rate for all share classes**<sup>12,13</sup>  | **Six months** <br>**ended** <br>**June 30,** <br>**2025**<sup>5,6,7</sup>  | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** | **Year ended December 31,** |
| **Portfolio turnover rate for all share classes**<sup>12,13</sup>  | **Six months** <br>**ended** <br>**June 30,** <br>**2025**<sup>5,6,7</sup>  | **2024** | **2023** | **2022** | **2021** | **2020** |
| Excluding mortgage dollar roll transactions | &nbsp;&nbsp; 36<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 56<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 74<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 75<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 106<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 155<br> %<br>|
| Including mortgage dollar roll transactions | &nbsp;&nbsp; 122<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 313<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 542<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 228<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 164<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 367<br> %<br>|

---

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

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

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

<sup>4</sup> Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds.

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

<sup>6</sup> Unaudited.

<sup>7</sup> Not annualized.

<sup>8</sup> Annualized.

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

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

<sup>11</sup> Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

<sup>12</sup> Rates do not include the fund's portfolio activity with respect to any Central Funds.

<sup>13</sup> Refer to Note 5 for more information on mortgage dollar rolls.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **67** | American Funds Strategic Bond Fund |

---

------

Changes in and disagreements with accountants

------

None

Matters submitted for shareholder vote

------

None

Remuneration paid to directors, officers and others

------

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

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **68** |

---

------

Approval of Investment Advisory and Service Agreement

------

The fund's board has approved the continuation of the fund's Investment Advisory and Service Agreement (the "agreement") with Capital Research and Management Company ("CRMC") for an additional one-year term through April 30, 2026. The board approved the agreement following the recommendation of the fund's Contracts Committee (the "committee"), which is composed of all the fund's independent board members. The board and the committee determined in the exercise of their business judgment that the fund's advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of the fund and its shareholders.

In reaching this decision, the board and the committee took into account their interactions with CRMC and information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and they were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

**1. Nature, extent and quality of services**

The board and the committee considered the depth and quality of CRMC's investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which the fund's assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC's organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the fund under the agreement and other agreements, as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board and the committee considered the risks assumed by CRMC in providing services to the fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.

**2. Investment results**

The board and the committee considered the investment results of the fund in light of its objective. They compared the fund's investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which the fund is included) and data such as publicly disclosed benchmarks, including applicable market and fund indexes over various periods (including the fund's lifetime) through September 30, 2024. They generally placed greater emphasis on investment results over longer term periods and relative to benchmarks consistent with the fund's objective. On the basis of this evaluation and the board's and the committee's ongoing review of investment results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that the fund's investment results have been satisfactory for renewal of the agreement, and that CRMC's record in managing the fund indicated that its continued management should benefit the fund and its shareholders.

**3. Advisory fees and total expenses**

The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund's advisory fees and expenses generally compared favorably to those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in the fund's advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the fund and the other clients. The board and the committee concluded that the fund's cost structure was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing the fund, and that the fund's shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.

---

| | |
|:---|:---|
| **69** | American Funds Strategic Bond Fund |

---

------

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

**4. Ancillary benefits**

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC's relationship with the fund and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC's affiliated transfer agent; sales charges and distribution fees received and retained by the fund's principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC's portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of the fund to facilitate payments to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.

**5. Adviser financial information**

The board and the committee reviewed information regarding CRMC's costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC's costs and related cost allocation methodology, as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC's investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC's profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC's long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund's advisory fee structure and CRMC's sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that the fund's advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund's shareholders.

---

| | |
|:---|:---|
| American Funds Strategic Bond Fund | **70** |

---

------

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

------

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

------

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

------

#### ITEM 11 - Statement Regarding Basis for Approval of Investment Advisory Contract
The information is included as part of the material filed under Item 7 of this Form under Approval of Investment Advisory and Service Agreement.

------

#### ITEM 12 - Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

------

#### ITEM 13 - Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

------

#### ITEM 14 - Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

------

#### ITEM 15 - Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ''interested persons'' of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board's composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant's Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

------

#### ITEM 16 - Controls and Procedures
(a) The Registrant's Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant's disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940) as of a date within 90 days of the filing date of this report, that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

(b) There were no changes in the Registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

------

#### ITEM 17 - Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

------

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

------

#### ITEM 19 - Exhibits
(a)(1) Not applicable for filing of semi-annual reports to shareholders.

(a)(2) The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections [302](cert302.htm) and [906](cert906.htm) of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**American Funds Strategic Bond Fund**

By /s/ Kristine M. Nishiyama

Kristine M. Nishiyama,

Principal Executive Officer

Date: September 05, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By /s/ Kristine M. Nishiyama

Kristine M. Nishiyama,

Principal Executive Officer

Date: September 05, 2025

By /s/ Becky L. Park

Becky L. Park, Treasurer and

Principal Financial Officer

Date: September 05, 2025

------

## Ex-99.Cert

**CERTIFICATION**

**I, Kristine M. Nishiyama, certify that:**

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

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: September 05, 2025

<u>/s/ Kristine M. Nishiyama</u> Kristine M. Nishiyama, Principal Executive Officer American Funds Strategic Bond Fund

**CERTIFICATION**

I, **Becky L. Park**, certify that:

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

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: September 05, 2025

<u>/s/ Becky L. Park</u> Becky L. Park,

Treasurer and Principal Financial Officer

American Funds Strategic Bond Fund

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## Exhibit 99.906

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

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

KRISTINE M. NISHIYAMA, Principal Executive Officer, and BECKY L. PARK, Treasurer and Principal Financial Officer of American Funds Strategic Bond Fund (the "Registrant"), each certify to the best of her or his knowledge that:

1. The Registrant's periodic report on Form N-CSR for the period ended June 30, 2025 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Principal Executive Officer

**American Funds Strategic Bond Fund**

<u>/s/ Kristine M. Nishiyama</u>

Kristine M. Nishiyama, Principal Executive Officer

Date: September 05, 2025

Principal Financial Officer

**American Funds Strategic Bond Fund**

<u>/s/ Becky L. Park</u>

Becky L. Park, Treasurer and Principal Financial Officer

Date: September 05, 2025

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to **American Funds Strategic Bond Fund** and will be retained by **American Funds Strategic Bond Fund** and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSR filed with the Commission.

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